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Exhibit 99.1


For Immediate Release Citigroup Inc. (NYSE: C) October 15, 2024
THIRD QUARTER 2024 RESULTS AND KEY METRICS	CEO COMMENTARY
THIRD QUARTER 2024 RESULTS AND KEY METRICS		Citi CEO Jane Fraser said, “In a pivotal year, this quarter contains multiple proof points that we are moving in the right direction and that our strategy is gaining traction, including positive operating leverage for each of our businesses, share gains and fee growth. While we continue making substantial investments in our number one priority—our Transformation—the efficiencies gained from our simplification and other efforts drove a 2% reduction in expenses. We built on our long history of innovation by launching a new cross-border payments capability with Mastercard and a $25 billion private credit partnership with Apollo, while we continued to attract top talent to our firm. “Services delivered a record quarter driven by loan, deposit and asset growth, as well as new mandates. In Markets, revenues were up with a 32% increase in Equities. Investment Banking revenue was up 31% driven largely by investment grade debt issuance. We are also starting to see the positive impact of the changes we’ve implemented in our Wealth business, with revenues up 9%, including strong growth in client investment assets and investment fee revenue. U.S. Personal Banking revenues were up 3% with Branded Cards growing by 8% with account acquisitions, spend and payment rates driving higher interest-earning balances. “Our incredible people continue to serve clients through our diversified business model and strong balance sheet. We are on track to meet our expense and revenue targets for the year and look to close out 2024 with momentum as we prepare for 2025,” Ms. Fraser concluded.
RETURNED ~$2.1 BILLION IN THE FORM OF COMMON DIVIDENDS AND SHARE REPURCHASES PAYOUT RATIO OF 71%⁽³⁾ BOOK VALUE PER SHARE OF $101.91 TANGIBLE BOOK VALUE PER SHARE OF $89.67⁽⁴⁾ New York, October 15, 2024 – Citigroup Inc. today reported net income for the third quarter 2024 of $3.2 billion, or $1.51 per diluted share, on revenues of $20.3 billion. This compares to net income of $3.5 billion, or $1.63 per diluted share, on revenues of $20.1 billion for the third quarter 2023. Revenues increased 1% from the prior-year period, on a reported basis. Excluding divestiture-related impacts⁽⁵⁾, primarily consisting of an approximately $400 million gain from the sale of the Taiwan consumer banking business in the prior-year period, revenues were up 3%. This increase in revenues was driven by growth across all businesses, partially offset by a decline in All Other. Net income of $3.2 billion decreased from $3.5 billion in the prior-year period, primarily driven by higher cost of credit, partially offset by the higher revenues and lower expenses. Earnings per share of $1.51 decreased from $1.63 per diluted share in the prior-year period, reflecting the lower net income. Percentage comparisons throughout this press release are calculated for the third quarter 2024 versus the third quarter 2023, unless otherwise specified.

Third Quarter Financial Results


Citigroup ($ in millions, except per share amounts and as otherwise noted)	3Q’24		2Q’24		3Q’23		QoQ%	YoY%
Total revenues, net of interest expense		20,315		20,139		20,139	1%	1%

Total operating expenses		13,250		13,353		13,511	(1)%	(2)%

Net credit losses		2,172		2,283		1,637	(5)%	33%
Net ACL build / (release)^(a)		315		68		125	NM	NM
Other provisions^(b)		188		125		78	50%	NM
Total cost of credit		2,675		2,476		1,840	8%	45%

Income (loss) from continuing operations before taxes		4,390		4,310		4,788	2%	(8)%
Provision for income taxes		1,116		1,047		1,203	7%	(7)%
Income (loss) from continuing operations		3,274		3,263		3,585	-	(9)%
Income (loss) from discontinued operations, net of taxes		(1)		-		2	(100%)	NM
Net income attributable to non-controlling interest		35		46		41	(24)%	(15)%
Citigroup’s net income	$	3,238	$	3,217	$	3,546	1%	(9)%


EOP loans ($B)		689		688		666	-	3%
EOP assets ($B)		2,431		2,406		2,368	1%	3%
EOP deposits ($B)		1,310		1,278		1,274	2%	3%

Book value per share	$	101.91	$	99.70	$	99.28	2%	3%
Tangible book value per share⁽⁴⁾	$	89.67	$	87.53	$	86.90	2%	3%
Common Equity Tier 1 (CET1) Capital ratio⁽²⁾		13.7%		13.6%		13.6%
Supplementary Leverage ratio (SLR)⁽²⁾		5.8%		5.9%		6.0%
Return on average common equity (ROE)		6.2%		6.3%		6.7%
Return on average tangible common equity (RoTCE)⁽¹⁾		7.0%		7.2%		7.7%	(20) bps	(70) bps

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(b) Includes provisions on Other Assets, policyholder benefits and claims and HTM debt securities.

Citigroup

Citigroup revenues of $20.3 billion in the third quarter 2024 increased 1%, on a reported basis. Excluding divestiture-related impacts⁽⁵⁾, primarily consisting of the approximately $400 million gain from the sale of the Taiwan consumer banking business in the prior-year period, revenues were up 3%. This increase in revenues was driven by growth across all businesses, partially offset by a decline in All Other.

Citigroup operating expenses of $13.3 billion decreased 2%, both on a reported basis and excluding divestiture-related impacts⁽⁶⁾. This decrease in expenses was primarily driven by savings associated with Citi’s organizational simplification and stranded cost reductions, partially offset by volume-related expenses and continued investments in transformation and other risk and control initiatives.

Citigroup cost of credit was approximately $2.7 billion in the third quarter 2024, compared to $1.8 billion in the prior-year period, largely driven by higher cards net credit losses and a higher allowance for credit losses (ACL) build for portfolio growth and mix.

Citigroup net income was $3.2 billion in the third quarter 2024, compared to net income of $3.5 billion in the prior-year period, driven by the higher cost of credit, partially offset by the higher revenues and the lower expenses. The decrease in net income primarily reflected a decrease in net income in U.S. Personal Banking (USPB) and All Other, partially offset by an increase in Services, Markets, Banking and Wealth. Citigroup’s effective tax rate was approximately 25% in the current quarter, unchanged from the prior-year period.

Citigroup’s total allowance for credit losses was approximately $22.1 billion at quarter end, compared to $20.2 billion at the end of the prior-year period. Total ACL on loans was approximately $18.4 billion at quarter end, compared to $17.6 billion at the end of the prior-year period, with a reserve-to-funded loans ratio of 2.70%, compared to 2.68% at the end of the prior-year period. Total non-accrual loans decreased 34% from the prior-year period to $2.2 billion. Corporate non-accrual loans decreased 52% from the prior-year period to $944 million. Consumer non-accrual loans decreased 6% from the prior-year period to $1.2 billion.

Citigroup’s end-of-period loans were $689 billion at quarter end, up 3% versus the prior-year period, largely reflecting growth in cards in USPB and higher loans in Markets and Services.

Citigroup’s end-of-period deposits were approximately $1.3 trillion at quarter end, up 3% versus the prior-year period, largely due to an increase in Services, driven by the continued deepening of client relationships and operating deposit growth in both Treasury and Trade Solutions and Securities Services.

Citigroup’s book value per share of $101.91 at quarter end increased 3% versus the prior-year period, and tangible book value per share of $89.67 at quarter end increased 3% versus the prior-year period. The increases were largely driven by net income, common share repurchases and beneficial movements in the accumulated other comprehensive income (AOCI) component of equity, partially offset by the payment of common and preferred dividends. At quarter end, Citigroup’s preliminary CET1 Capital ratio was 13.7% versus 13.6% at the end of the prior quarter, driven by net income and unrealized gains on available for sale securities recognized in AOCI, partially offset by the payment of common and preferred dividends and common share repurchases, as well as higher risk-weighted assets. Citigroup’s Supplementary Leverage ratio for the third quarter 2024 was 5.8% versus 5.9% in the prior quarter. During the quarter, Citigroup returned a total of $2.1 billion to common shareholders in the form of dividends and share repurchases.


Services ($ in millions, except as otherwise noted)	3Q’24		2Q’24		3Q’23		QoQ%	YoY%
Net interest income		2,731		2,629		2,868	4%	(5)%
Non - interest revenue		909		802		645	13%	41%
Treasury and Trade Solutions		3,640		3,431		3,513	6%	4%
Net interest income		704		596		572	18%	23%
Non - interest revenue		684		653		551	5%	24%
Securities Services		1,388		1,249		1,123	11%	24%
Total Services revenues^(a)		5,028		4,680		4,636	7%	8%

Total operating expenses		2,588		2,734		2,520	(5)%	3%
Net credit losses		14		-		27	NM	(48)%
Net ACL build / (release)^(b)		14		(98)		29	NM	(52)%
Other provisions^(c)		99		71		39	39%	NM
Total cost of credit		127		(27)		95	NM	34%

Net income	$	1,651	$	1,471	$	1,339	12%	23%


Services Key Statistics and Metrics ($B)
Allocated Average TCE ^(d)		25		25		23	-	8%
RoTCE^(d)		26.4%		23.8%		23.1%	260 bps	330 bps
Average loans		87		82		83	6%	5%
Average deposits		825		804		797	3%	4%
Cross border transaction value		95		93		88	2%	8%
US dollar clearing volume (#MM)^(e)		43		42		40	3%	7%
Commercial card spend volume		18		18		17	2%	8%
Assets under custody and/or administration (AUC/AUA) ($T)^(f)		26		24		22	9%	22%

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Services includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to Corporate Lending clients.

(b) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(d) TCE and RoTCE are non-GAAP financial measures. See Appendix H for a reconciliation of the summation of the segments' and component's average allocated TCE to Citi's total average TCE and Citi's total average stockholders' equity.

(e) U.S. Dollar Clearing Volume is defined as the number of USD Clearing Payment instructions processed by Citi on behalf of U.S. and foreign-domiciled entities (primarily Financial Institutions). Amounts in the table are stated in millions of payment instructions processed.

(f) 3Q24 is preliminary.

Services

Services revenues of $5.0 billion were up 8%, primarily reflecting continued momentum across Securities Services and Treasury and Trade Solutions. Net interest income was largely unchanged, as the benefit of higher deposit volumes was offset by a decline in interest rates in Argentina. Non-interest revenue increased 33%, driven by a smaller impact from currency devaluation in Argentina, as well as continued strength in underlying fee drivers in Treasury and Trade Solutions and Securities Services.

Treasury and Trade Solutions revenues of $3.6 billion were up 4%, as a 41% increase in non-interest revenues was partially offset by a 5% decrease in net interest income. The increase in non-interest revenue was driven by the smaller impact from currency devaluation in Argentina as well as an increase in cross-border transaction value of 8%, an increase in U.S. dollar clearing volumes of 7% and an increase in commercial card spend volume of 8%. The decrease in net interest income was driven by the decline in interest rates in Argentina, partially offset by higher deposit volumes.

Securities Services revenues of $1.4 billion increased 24%, largely driven by a 23% increase in net interest income, primarily driven by higher deposit spreads and volumes, and a 24% increase in non-interest revenue. The increase in non-interest revenue was primarily due to a preliminary 22% increase in assets under custody and administration, benefiting from new client onboardings, deepening with existing clients and market valuations.

Services operating expenses of $2.6 billion increased 3%, primarily driven by investments in technology, other risk and controls, and product innovation.

Services cost of credit was $127 million, compared to $95 million in the prior-year period, driven by a reserve build related to unremittable corporate dividends.

Services net income of $1.7 billion increased 23%, driven by the higher revenues, partially offset by the higher expenses and the higher cost of credit.


Markets ($ in millions, except as otherwise noted)	3Q’24		2Q’24		3Q’23		QoQ%	YoY%
Rates and currencies		2,465		2,466		2,747	-	(10)%
Spread products / other fixed income		1,113		1,098		1,059	1%	5%
Fixed Income markets		3,578		3,564		3,806	-	(6)%
Equity markets		1,239		1,522		942	(19)%	32%
Total Markets revenues^(a)		4,817		5,086		4,748	(5)%	1%

Total operating expenses		3,339		3,305		3,310	1%	1%

Net credit losses		24		66		(4)	(64)%	NM
Net ACL build / (release)^(b)		84		(109)		124	NM	(32)%
Other provisions^(c)		33		32		42	3%	(21)%
Total cost of credit		141		(11)		162	NM	(13)%

Net income	$	1,072	$	1,443	$	1,050	(26)%	2%


Markets Key Statistics and Metrics ($B)
Allocated Average TCE^(d)		54		54		53	-	2%
RoTCE^(d)		7.9%		10.7%		7.8%	(280) bps	10 bps
Average trading account assets		462		426		393	8%	18%
Average VaR ($ in MM) (99% confidence level)^(e)		107		113		117	(5)%	(9)%

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Markets includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to Corporate Lending clients.

(b) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(e) VaR estimates, at a 99% confidence level, the potential decline in the value of a position or a portfolio under normal market conditions assuming a one-day holding period. VaR statistics, which are based on historical data, can be materially different across firms due to differences in portfolio composition, VaR methodologies and model parameters.

Markets

Markets revenues of $4.8 billion increased 1%, driven by growth in Equity markets revenues, partially offset by lower Fixed Income markets revenues.

Fixed Income markets revenues of $3.6 billion decreased 6%, driven by rates and currencies, largely reflecting a strong prior-year comparison. This decrease was partially offset by strength in spread products and other fixed income, which increased 5%, primarily driven by higher financing and securitization volumes and underwriting fees, partially offset by lower commodities revenue on lower gas volatility.

Equity markets revenues of $1.2 billion increased 32%, driven by momentum in prime, growth in equity derivatives and higher cash equity volumes. Equity markets had growth in prime balances⁽⁷⁾, up approximately 22%.

Markets operating expenses of $3.3 billion increased 1%, primarily due to higher volume-related expenses.

Markets cost of credit was $141 million, compared to $162 million in the prior-year period, driven by a lower ACL build, partially offset by higher net credit losses.

Markets net income of $1.1 billion increased 2%, driven by the higher revenues and the lower cost of credit, partially offset by the higher expenses.


Banking ($ in millions, except as otherwise noted)	3Q’24		2Q’24		3Q’23		QoQ%	YoY%
Investment Banking		934		853		711	9%	31%
Corporate Lending^(a)		742		765		709	(3)%	5%
Total Banking revenues^(a)(b)		1,676		1,618		1,420	4%	18%
Gain / (loss) on loan hedges^(a)		(79)		9		(47)	NM	(68)%
Total Banking revenues including gain/(loss) on loan hedges^(a)		1,597		1,627		1,373	(2)%	16%

Total operating expenses		1,116		1,131		1,225	(1)%	(9)%
Net credit losses		36		40		29	(10)%	24%
Net ACL build / (release)^(c)		121		(60)		(86)	NM	NM
Other provisions^(d)		20		(12)		1	NM	NM
Total cost of credit		177		(32)		(56)	NM	NM

Net income	$	238	$	406	$	156	(41)%	53%


Banking Key Statistics and Metrics
Allocated Average TCE^(e) ($B)		22		22		21	-	2%
RoTCE^(e)		4.3%		7.5%		2.9%	(320) bps	140 bps
Average loans ($B)		88		89		89	(1)%	(1)%

Advisory		394		268		299	47%	32%
Equity underwriting		129		174		123	(26)%	5%
Debt underwriting		476		493		272	(3)%	75%
Investment Banking fees		999		935		694	7%	44%

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Excludes gain / (loss) on credit derivatives as well as the mark-to-market on loans at fair value. For additional information, please refer to Footnote 8.

(b) Banking includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to Corporate Lending clients.

(d) Includes provisions on Other Assets and HTM debt securities.

(e) TCE and RoTCE are non-GAAP financial measures. See Appendix H for a reconciliation of the summation of the segments' and component's average allocated TCE to Citi's total average TCE and Citi's total average stockholders' equity.

Banking

Banking revenues of $1.6 billion increased 16%, primarily driven by growth in Investment Banking.

Investment Banking revenues of $934 million increased 31%, driven by a 44% increase in fees. The Investment Banking fee increase was driven by strength in Debt Capital Markets, which benefited from continued strong investment grade issuance, and an increase in Advisory due to strong announced deal volume from earlier this year coming to fruition. The increase in fees was also driven by Equity Capital Markets, due to stronger follow-on activity, partially offset by less IPO activity amid market volatility mid-quarter.

Corporate Lending revenues of $742 million, excluding mark-to-market on loan hedges,⁽⁸⁾ increased 5%, primarily driven by a smaller impact from currency devaluation in Argentina.

Banking operating expenses of $1.1 billion decreased 9%, primarily driven by benefits of prior repositioning actions.

Banking cost of credit was $177 million, compared to a benefit of $56 million in the prior-year period, driven by an ACL build due to a change in portfolio mix, versus a release in the prior-year period, as well as higher net credit losses.

Banking net income of $238 million increased 53%, reflecting the higher revenues and the lower expenses, partially offset by the higher cost of credit.


Wealth ($ in millions, except as otherwise noted)	3Q’24		2Q’24		3Q’23		QoQ%	YoY%
Private Bank		614		611		617	-	-
Wealth at Work		244		195		234	25%	4%
Citigold		1,144		1,008		980	13%	17%
Total revenues, net of interest expense		2,002		1,814		1,831	10%	9%

Total operating expenses		1,601		1,542		1,669	4%	(4)%

Net credit losses		27		35		24	(23)%	13%
Net ACL build / (release)^(a)		7		(43)		(27)	NM	NM
Other provisions^(b)		(1)		(1)		1	-	NM
Total cost of credit		33		(9)		(2)	NM	NM

Net income	$	283	$	210	$	132	35%	NM


Wealth Key Statistics and Metrics ($B)
Allocated Average TCE^(c)		13		13		13	-	(1)%
RoTCE^(c)		8.5%		6.4%		3.9%	210 bps	460 bps
Loans		151		150		151	1%	-
Deposits		316		318		302	(1)%	5%
Client investment assets^(d)		580		541		469	7%	24%
EoP client balances		1,047		1,009		922	4%	14%

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(b) Includes provisions on Other Assets and policyholder benefits and claims.

(c) TCE and RoTCE are non-GAAP financial measures. See Appendix H for a reconciliation of the summation of the segments’ and component’s average allocated TCE to Citi’s total average TCE and Citi’s total average stockholders’ equity.

(d) Includes assets under management, and trust and custody assets. 3Q24 Client investment assets is preliminary.

Wealth

Wealth revenues of $2.0 billion increased 9%, driven by a 15% increase in non-interest revenue, reflecting higher investment fee revenues on momentum in client investment assets, as well as a 6% increase in net interest income due to higher deposit volumes and spreads.

Private Bank revenues of $614 million were largely unchanged from the prior-year period, as higher investment fee revenues and improved deposit spreads were offset by higher mortgage funding costs.

Wealth at Work revenues of $244 million increased 4%, driven by improved deposit spreads and higher investment fee revenues, partially offset by higher mortgage funding costs.

Citigold revenues of $1.1 billion increased 17%, driven by higher investment fee revenues and higher deposit volumes.

Wealth operating expenses of $1.6 billion decreased 4%, primarily driven by the benefits of prior repositioning and restructuring actions.

Wealth cost of credit was $33 million, compared to a benefit of $2 million in the prior-year period, largely due to an ACL build for loans, compared to a release in the prior-year period.

Wealth net income was $283 million, compared to $132 million in the prior-year period, driven by the higher revenues and the lower expenses, partially offset by the higher cost of credit.


USPB ($ in millions, except as otherwise noted)	3Q’24		2Q’24		3Q’23		QoQ%	YoY%
Branded Cards	$	2,731	$	2,537	$	2,539	8%	8%
Retail Services		1,715		1,746		1,728	(2)%	(1)%
Retail Banking		599		636		650	(6)%	(8)%
Total revenues, net of interest expense		5,045		4,919		4,917	3%	3%

Total operating expenses		2,457		2,442		2,481	1%	(1)%

Net credit losses		1,864		1,931		1,343	(3)%	39%
Net ACL build / (release)^(a)		41		382		113	(89)%	(64)%
Other provisions^(b)		4		2		3	100%	33%
Total cost of credit		1,909		2,315		1,459	(18)%	31%

Net income	$	522	$	121	$	756	NM	(31)%


USPB Key Statistics and Metrics ($B)
Allocated average TCE^(c)		25		25		22	-	15%
RoTCE^(c)		8.2%		1.9%		13.7%	630 bps	(550) bps
Average loans		210		206		196	2%	7%
Average deposits		85		93		110	(9)%	(23)%
US cards average loans		162		160		153	1%	6%
US credit card spend volume		151		155		149	(3)%	1%
New account acquisitions (in thousands)		3,023		3,178		3,298	(5)%	(8)%

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(b) Includes provisions on policyholder benefits and claims and Other Assets.

U.S. Personal Banking (USPB)

USPB revenues of $5.0 billion increased 3%, driven by higher net interest income due to loan growth in cards and higher non-interest revenue due to lower partner payments.

Branded Cards revenues of $2.7 billion increased 8%, driven by interest-earning balance growth of 8%, as payment rates continue to normalize, and spend volume growth of 3%.

Retail Services revenues of $1.7 billion decreased 1%, due to a slowing growth rate in interest earning balances.

Retail Banking revenues of $599 million decreased 8%, primarily driven by the transfer of relationships and the associated deposits to Wealth.

USPB operating expenses of $2.5 billion decreased 1%, driven by continued productivity savings, partially offset by higher volume-related expenses.

USPB cost of credit was $1.9 billion, compared to $1.5 billion in the prior-year period. The increase was driven by higher net credit losses, reflecting that multiple card loan vintages originated over the last few years are now maturing, partially offset by a lower ACL build in the current quarter.

USPB net income of $522 million decreased 31%, driven by the higher cost of credit, partially offset by the higher revenues and the lower expenses.


All Other (Managed Basis)^(a)(b) ($ in millions, except as otherwise noted)	3Q’24		2Q’24		3Q’23		QoQ%	YoY%
Legacy Franchises (managed basis)		1,739		1,727		1,841	1%	(6)%
Corporate / Other		86		253		397	(66)%	(78)%
Total revenues		1,825		1,980		2,238	(8)%	(18)%

Total operating expenses		2,082		2,114		2,192	(2)%	(5)%

Net credit losses		208		214		237	(3)%	(12)%
Net ACL build / (release)^(c)		48		(4)		(30)	NM	NM
Other provisions^(d)		33		33		(8)	-	NM
Total cost of credit		289		243		199	19%	45%

Net (loss)	$	(483)	$	(402)	$	(101)	(20)%	NM


All Other Key Statistics and Metrics ($B)
Allocated Average TCE^(e)		29		27		33	8%	(10)%

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

(b) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi’s divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico consumer banking, small business and middle-market banking within Legacy Franchises. For additional information, please refer to Footnote 9.

(d) Includes provisions on Other Assets and policyholder benefits and claims.

(e) TCE is a non-GAAP financial measure. See Appendix H for a reconciliation of the summation of the segments’ and component’s average allocated TCE.

All Other (Managed Basis)⁽⁹⁾

All Other (managed basis) revenues of $1.8 billion decreased 18%, primarily driven by closed exits and wind-downs as well as margin compression on mortgage securities in the investment portfolio that have extended.

Legacy Franchises (managed basis)⁽⁹⁾ revenues of $1.7 billion decreased 6%, largely driven by the closed exits and wind-downs.

Corporate / Other revenues decreased to $86 million from $397 million in the prior-year period, largely driven by the margin compression on mortgage securities in the investment portfolio that have extended.

All Other (managed basis) expenses of $2.1 billion decreased 5%, as a reduction from the closed exits and wind-downs was partially offset by a legal reserve.

All Other (managed basis) cost of credit was $289 million, compared to $199 million in the prior-year period, driven by an ACL build in Mexico, partially offset by lower net credit losses.

All Other (managed basis) net loss of $483 million was driven by the lower revenues and the higher cost of credit, partially offset by the lower expenses.

Citigroup will host a conference call today at 11:00 AM (ET). A live webcast of the presentation, as well as financial results and presentation materials, will be available at https://www.citigroup.com/global/investors. The live webcast of the presentation can also be accessed at https://www.veracast.com/webcasts/citigroup/webinars/CITI3Q24.cfm

Additional financial, statistical and business-related information, as well as business and segment trends, is included in a Quarterly Financial Data Supplement. Both this earnings release and Citigroup’s Third Quarter 2024 Quarterly Financial Data Supplement are available on Citigroup’s website at www.citigroup.com.

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Certain statements in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences. Actual results and capital and other financial condition may differ materially from those included in these statements due to a variety of factors. These factors include, among others: geopolitical, macroeconomic and other challenges and uncertainties, including those related to election outcomes, conflicts in the Middle East, economic growth, inflation and interest rates; the execution and efficacy of Citi’s transformation, simplification and other strategic and other initiatives, including those related to its investment, expense and capital-related actions; the potential outcomes of the extensive legal and regulatory proceedings, examinations, investigations, consent orders and related compliance efforts and other inquiries to which Citi is or may be subject; ongoing regulatory and legislative uncertainties and changes, including changes in regulatory capital rules, requirements or interpretations; and the precautionary statements included in this release. These factors also consist of those contained in Citigroup’s filings with the U.S. Securities and Exchange Commission, including without limitation the “Risk Factors” section of Citigroup's 2023 Form 10-K. Any forward-looking statements made by or on behalf of Citigroup speak only as to the date they are made, and Citi does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

Contacts:

Investors: Jennifer Landis (212) 559-2718

Press: Danielle Romero-Apsilos (212) 816-2264

Appendix A


Citigroup ($ in millions)	3Q’24		2Q’24		3Q’23
Net Income	$	3,238	$	3,217	$	3,546
Less: Preferred Dividends		277		242		333
Net Income (Loss) to Common Shareholders	$	2,961	$	2,975	$	3,213

Average Common Equity	$	191,444	$	189,211	$	189,158
Less:
Average Goodwill and Intangibles		23,155		23,063		23,831
Average Tangible Common Equity (TCE)	$	168,289	$	166,148	$	165,327

ROE		6.2%		6.3%		6.7%

RoTCE		7.0%		7.2%		7.7%

Appendix B


Citigroup ($ in millions)	3Q’24		3Q’23		% Δ YoY
Total Citigroup Revenue - As Reported	$	20,315	$	20,139	1%
Less:
Total Divestiture-related Impact on Revenue		1		396
Total Citigroup Revenue, Excluding Total Divestiture-related Impact	$	20,314	$	19,743	3%

Total Citigroup Operating Expenses - As Reported	$	13,250	$	13,511	(2)%
Less:
Total Divestiture-related Impact on Operating Expenses		67		114
Total Citigroup Operating Expenses, Excluding Total Divestiture-related Impact	$	13,183	$	13,397	(2)%

Appendix C ^(a)


All Other ($ in millions)	3Q’24		2Q’24		3Q’23		% Δ QoQ	% Δ YoY

All Other Revenues, Managed Basis	$	1,825	$	1,980	$	2,238	(8)%	(18)%
Add:
All Other Divestiture-related Impact on Revenue^(b)	$	1	$	33	$	396
All Other Revenues (U.S. GAAP)	$	1,826	$	2,013	$	2,634	(9)%	(31)%

All Other Operating Expenses, Managed Basis	$	2,082	$	2,114	$	2,192	(2)%	(5)%
Add:
All Other Divestiture-related Impact on Operating Expenses^(c)(d)	$	67	$	85	$	114
All Other Operating Expenses (U.S. GAAP)	$	2,149	$	2,199	$	2,306	(2)%	(7)%

All Other Cost of Credit, Managed Basis	$	289	$	243	$	199	19%	45%
Add:
All Other Divestiture-related Impact on Net credit losses		(1)		(3)		(19)
All Other Divestiture-related Impact on Net ACL build / (release)^(e)		-		-		2
All Other Divestiture-related Impact on Other provisions^(f)		-		-		-
All Other Citigroup Cost of Credit (U.S. GAAP)	$	288	$	240	$	182	20%	58%

All Other Net Income (Loss), Managed Basis	$	(483)	$	(402)	$	(101)	(20)%	NM
Add:
All Other Divestiture-related Impact on Revenue^(b)		1		33		396
All Other Divestiture-related Impact on Operating Expenses^(c)(d)		(67)		(85)		(114)
All Other Divestiture-related Impact on Cost of Credit^(e)(f)		1		3		17
All Other Divestiture-related Impact on Taxes^(b)(c)(d)		20		17		(85)
All Other Net Income (Loss) (U.S. GAAP)	$	(528)	$	(434)	$	113	(22)%	NM

(a) Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other—Legacy Franchises on a managed basis.

(b) 3Q23 includes an approximate $403 million gain on sale recorded in revenue (approximately $284 million after various taxes) related to Citi's sale of the Taiwan consumer banking business. In addition, 3Q23 includes approximately $114 million in operating expenses (approximately $78 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023.

(c) 2Q24 includes approximately $85 million in operating expenses (approximately $58 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024.

(d) 3Q24 includes approximately $67 million in operating expenses (approximately $46 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets.

(e) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(f) Includes provisions for policyholder benefits and claims and other assets.

Appendix D


($ in millions)	3Q’24^(a)		2Q’24		3Q’23


Citigroup Common Stockholders’ Equity^(b)	$	192,796	$	190,283	$	190,134
Add: Qualifying noncontrolling interests		168		153		193
Regulatory Capital Adjustments and Deductions:
Add: CECL transition provision^(c)		757		757		1,514
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		(773)		(629)		(1,259)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		(906)		(760)		625
Intangible Assets:
Goodwill, net of related deferred tax liabilities (DTLs)^(d)		18,397		18,315		18,552
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,061		3,138		3,444
Defined benefit pension plan net assets and other		1,447		1,425		1,340
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards^(e)		11,318		11,695		11,219
Excess over 10% / 15% limitations for other DTAs, certain common stock investments, and MSRs^(e)(f)		3,071		3,652		1,786

Common Equity Tier 1 Capital (CET1)	$	158,106	$	154,357	$	156,134

Risk-Weighted Assets (RWA)^(c)	$	1,153,100	$	1,135,750	$	1,148,550

Common Equity Tier 1 Capital Ratio (CET1 / RWA)^(c)		13.7%		13.6%		13.6%

Note:

Citi’s binding CET1 Capital ratios were derived under the Basel III Standardized Approach for all periods reflected.

(a)Preliminary.

(b)Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.

(c)Please refer to Footnote 2 at the end of this press release for additional information.

(d)Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.

(e)Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit and general business credit tax carry-forwards and DTAs arising from timing differences (future deductions) that are deducted from CET1 Capital exceeding the 10% limitation.

(f)Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. For all periods presented, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.

Appendix E


($ in millions)	3Q’24^(a)		2Q’24		3Q’23

Common Equity Tier 1 Capital (CET1)^(b)	$	158,106	$	154,357	$	156,134

Additional Tier 1 Capital (AT1)^(c)		17,682		19,426		20,744

Total Tier 1 Capital (T1C) (CET1 + AT1)	$	175,788	$	173,783	$	176,878

Total Leverage Exposure (TLE)^(b)	$	3,005,668	$	2,949,534	$	2,927,392

Supplementary Leverage Ratio (T1C / TLE)^(b)		5.8%		5.9%		6.0%

(a)	Preliminary.

(b)	Please refer to Footnote 2 at the end of this press release for additional information.

(c)	Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

Appendix F


($ and shares in millions)	3Q’24^(a)		2Q’24		3Q’23

Common Stockholders’ Equity	$	192,733	$	190,210	$	190,008
Less:
Goodwill		19,691		19,704		19,829
Intangible Assets (other than MSRs)		3,438		3,517		3,811
Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Businesses Held-for-Sale		16		-		49
Tangible Common Equity (TCE)	$	169,588	$	166,989	$	166,319

Common Shares Outstanding (CSO)		1,891.3		1,907.8		1,913.9

Tangible Book Value Per Share	$	89.67	$	87.53	$	86.90

(a) Preliminary.

Appendix G


Banking ($ in millions)	3Q’24		2Q’24		3Q’23		% Δ QoQ	% Δ YoY

Corporate Lending Revenues - As Reported	$	663	$	774	$	662	(14)%	0%
Less:
Gain/(loss) on loan hedges^(a)	$	(79)	$	9	$	(47)	NM	(68)%
Corporate Lending Revenues - Excluding Gain/(loss) on loan hedges	$	742	$	765	$	709	(3)%	5%

(a) Please refer to Footnote 8 at the end of this press release for additional information.

Appendix H


($ in billions)	3Q’24		2Q’24		3Q’23

Average Tangible Common Equity (TCE)
Services	$	24.9	$	24.9	$	23.0
Markets		54.0		54.0		53.1
Banking		21.8		21.8		21.4
USPB		25 .2		25.2		21.9
Wealth		13.2		13.2		13.4
All Other		29.2		27.0		32.5
Total Citigroup Average TCE	$	168.3	$	166.1	$	165.3
Plus:
Average Goodwill		19.6		19.5		19.9
Average Intangible Assets (other than MSRs)		3.5		3.6		3.9
Average Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Businesses Held-for-Sale		-		-		0.1
Total Citigroup Average Common Stockholders’ Equity	$	191.4	$	189.2	$	189.2

⁽¹⁾ Ratios as of September 30, 2024 are preliminary. Citigroup’s allocated average tangible common equity (TCE) and return on average tangible common equity (RoTCE) are non-GAAP financial measures. RoTCE represents annualized net income available to common shareholders as a percentage of average TCE. For the components of these calculations, see Appendix A. See Appendix F for a reconciliation of common equity to TCE. For a reconciliation of the summation of the segments’ and components’ average allocated TCE to Citigroup’s total average stockholder’s equity, see Appendix H.

⁽²⁾ Ratios as of September 30, 2024 are preliminary. Citigroup’s Common Equity Tier 1 (CET1) Capital ratio and Supplementary Leverage ratio (SLR) reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses (CECL) standard. Excluding these deferrals, Citigroup’s CET1 Capital ratio and SLR as of September 30, 2024 would be 13.6% and 5.8%, respectively, on a fully reflected basis. For additional information, see “Capital Resources—Regulatory Capital Treatment—Modified Transition of the Current Expected Credit Losses Methodology” in Citigroup’s 2023 Annual Report on Form 10-K.

For the composition of Citigroup’s CET1 Capital and ratio, see Appendix D. For the composition of Citigroup’s SLR, see Appendix E.

⁽³⁾ Citigroup’s payout ratio is the sum of common dividends and common share repurchases divided by net income available to common shareholders.

⁽⁴⁾ Citigroup’s tangible book value per share is a non-GAAP financial measure. See Appendix F for a reconciliation of common equity to tangible common equity and resulting calculation of tangible book value per share.

⁽⁵⁾ Revenues excluding divestiture-related impacts are non-GAAP financial measures. For additional information and a reconciliation to reported results, please refer to Appendices B and C.

⁽⁶⁾ Expenses excluding divestiture-related impacts are non-GAAP financial measures. For additional information and a reconciliation to reported results, please refer to Appendices B and C. Included in Citigroup’s reported expenses was a reduction in operating expenses related to the FDIC special assessment in the third quarter 2024 of approximately $56 million.

⁽⁷⁾ Prime balances are defined as client’s billable balances where Citi provides cash or synthetic prime brokerage services.

⁽⁸⁾ Credit derivatives are used to economically hedge a portion of the Corporate Lending portfolio that includes both accrual loans and loans at fair value. Gain / (loss) on loan hedges includes the mark-to-market on the credit derivatives and the mark-to-market on the loans in the portfolio that are at fair value. In the third quarter 2024, gain / (loss) on loan hedges included $(79) million related to Corporate Lending, compared to $(47) million in the prior-year period. The fixed premium costs of these hedges are netted against the Corporate Lending revenues to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain / (loss) on loan hedges are non-GAAP financial measures. For a reconciliation to reported results, please refer to Appendix G.

⁽⁹⁾ All Other (managed basis) reflects results on a managed basis, which excludes divestiture-related impacts, for all periods, related to Citi’s divestitures of its Asia consumer banking businesses and the planned divestiture of its Mexico consumer banking and small business and middle market banking within Legacy Franchises. Certain of the results of operations of All Other (managed basis) and Legacy Franchises (managed basis) that exclude divestiture-related impacts are non-GAAP financial measures. For additional information and a reconciliation of these results, please refer to Appendix C.

Exhibit 99.2


CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT	3Q24


		Page
	Citigroup
	Financial Summary	1
	Consolidated Statement of Income	2
	Consolidated Balance Sheet	3
	Operating Segments, Reporting Units, and Components—Net Revenues and Income	4

	Services	5
	Markets	6
	Banking	7
	U.S. Personal Banking (USPB)	8
	Metrics	9
	Wealth	10
	All Other	11
	Legacy Franchises	12
	Corporate/Other	13
	Reconciling Items—Divestiture-Related Impacts	14

	Citigroup Supplemental Detail
	Average Balances and Interest Rates	15
	EOP (End of period) Loans	16
	EOP Deposits	17
	Allowance for Credit Losses (ACL) Rollforward	18
	Allowance for Credit Losses on Loans (ACLL) and Unfunded Lending Commitments (ACLUC)	19 - 20
	Non-Accrual Assets	21
	CET1 Capital and Supplementary Leverage Ratios, Tangible Common Equity,	22
	Book Value Per Share and Tangible Book Value Per Share

CITIGROUP FINANCIAL SUMMARY

(In millions of dollars, except per share amounts and as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)

Total revenues, net of interest expense⁽¹⁾⁽⁶⁾	$	20,139	$	17,440	$	21,104	$	20,139	$	20,315	1%	1%	$	61,022	$	61,558	1%
Total operating expenses^{(1)(2)(3)(4)(5)(6)}		13,511		15,996		14,195		13,353		13,250	(1%)	(2%)		40,370		40,798	1%
Net credit losses (NCLs)		1,637		1,994		2,303		2,283		2,172	(5%)	33%		4,443		6,758	52%
Credit reserve build (release) for loans		179		478		119		76		210	NM	17%		871		405	(54%)
Provision / (release) for unfunded lending commitments		(54)		(81)		(98)		(8)		105	NM	NM		(344)		(1)	100%
Provisions for benefits and claims, other assets and HTM debt securities		78		1,156		41		125		188	50%	NM		669		354	(47%)
Provisions for credit losses and for benefits and claims		1,840		3,547		2,365		2,476		2,675	8%	45%		5,639		7,516	33%
Income (loss) from continuing operations before income taxes		4,788		(2,103)		4,544		4,310		4,390	2%	(8%)		15,013		13,244	(12%)
Income taxes (benefits)		1,203		(296)		1,136		1,047		1,116	7%	(7%)		3,824		3,299	(14%)
Income (loss) from continuing operations		3,585		(1,807)		3,408		3,263		3,274	-	(9%)		11,189		9,945	(11%)
Income (loss) from discontinued operations, net of taxes		2		(1)		(1)		-		(1)	(100%)	NM		-		(2)	NM
Net income (loss) before noncontrolling interests		3,587		(1,808)		3,407		3,263		3,273	-	(9%)		11,189		9,943	(11%)
Net income (loss) attributable to noncontrolling interests		41		31		36		46		35	(24%)	(15%)		122		117	(4%)
Citigroup's net income (loss)	$	3,546	$	(1,839)	$	3,371	$	3,217	$	3,238	1%	(9%)	$	11,067	$	9,826	(11%)

Diluted earnings per share:
Income (loss) from continuing operations	$	1.63	$	(1.16)	$	1.58	$	1.52	$	1.51	(1%)	(7%)	$	5.14	$	4.61	(10%)
Citigroup's net income (loss)	$	1.63	$	(1.16)	$	1.58	$	1.52	$	1.51	(1%)	(7%)	$	5.14	$	4.61	(10%)

Preferred dividends	$	333	$	300	$	279	$	242	$	277	14%	(17%)	$	898	$	798	(11%)

Income allocated to unrestricted common shareholders—basic
Income (loss) from continuing operations (for EPS purposes)	$	3,158	$	(2,217)	$	3,048	$	2,943	$	2,906	(1%)	(8%)	$	10,048	$	8,897	(11%)
Citigroup's net income (loss) (for EPS purposes)		3,160		(2,218)		3,047		2,943		2,905	(1%)	(8%)		10,048		8,895	(11%)

Income allocated to unrestricted common shareholders—diluted
Income (loss) from continuing operations (for EPS purposes)	$	3,174	$	(2,217)	$	3,063	$	2,962	$	2,926	(1%)	(8%)	$	10,090	$	8,951	(11%)
Citigroup's net income (loss) (for EPS purposes)		3,176		(2,218)		3,062		2,962		2,925	(1%)	(8%)		10,090		8,949	(11%)

Shares (in millions):
Average basic		1,924.4		1,909.7		1,910.4		1,907.7		1,899.9	-	(1%)		1,936.9		1,906.0	(2%)
Average diluted		1,951.7		1,909.7		1,943.2		1,945.7		1,940.3	-	(1%)		1,961.5		1,943.1	(1%)
Common shares outstanding, at period end		1,913.9		1,903.1		1,907.4		1,907.8		1,891.3	(1%)	(1%)

Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio^(7)(8)(9)		13.59%		13.37%		13.45%		13.59%		13.7%
Tier 1 Capital ratio^(7)(8)(9)		15.40%		15.02%		15.11%		15.30%		15.2%
Total Capital ratio^(7)(8)(9)		15.78%		15.13%		15.17%		15.41%		15.3%
Supplementary Leverage ratio (SLR)^(7)(9)(10)		6.04%		5.82%		5.84%		5.89%		5.8%
Return on average assets		0.58%		(0.30%)		0.55%		0.53%		0.52%				0.60%		0.53%
Return on average common equity		6.7%		(4.5%)		6.6%		6.3%		6.2%				7.3%		6.4%
Average tangible common equity (TCE) (in billions of dollars)⁽¹¹⁾	$	165.3	$	165.2	$	164.7	$	166.1	$	168.3	1%	2%	$	163.2	$	166.5	2%
Return on average tangible common equity (RoTCE)⁽¹¹⁾		7.7%		(5.1%)		7.6%		7.2%		7.0%	(20) bps	(70) bps		8.3%		7.2%	(110) bps
Efficiency ratio (total operating expenses/total revenues, net)		67.1%		91.7%		67.3%		66.3%		65.2%	(110) bps	(190) bps		66.2%		66.3%	10 bps

Balance sheet data (in billions of dollars, except per share amounts):⁽⁷⁾
Total assets	$	2,368.5	$	2,411.8	$	2,432.5	$	2,405.7	$	2,430.7	1%	3%
Total average assets		2,413.8		2,427.3		2,450.3		2,456.5		2,492.1	1%	3%		2,447.2		2,466.3	1%
Total loans		666.3		689.4		674.6		687.7		688.9	-	3%
Total deposits		1,273.5		1,308.7		1,307.2		1,278.1		1,310.0	2%	3%
Citigroup's stockholders' equity		209.5		205.5		206.6		208.3		209.1	-	-
Book value per share		99.28		98.71		99.08		99.70		101.91	2%	3%
Tangible book value per share⁽¹¹⁾		86.90		86.19		86.67		87.53		89.67	2%	3%

Direct staff (in thousands)		240		239		237		229		229	-	(5%)

(1)	See footnote 2 on page 14.

(2)	See footnote 3 on page 14.

(3)	See footnote 4 on page 14.

(4)	See footnote 5 on page 14.

(5)	See footnote 6 on page 14.

(6)	See footnote 7 on page 14.

(7)	3Q24 is preliminary.

(8)

Citi's binding CET1 Capital and Tier 1 Capital ratios were derived under the Basel III Standardized Approach, whereas Citi's binding Total Capital ratios were derived under the Basel III Advanced Approaches framework for all periods presented. For the composition of Citi's CET1 Capital and ratio, see page 22.

(9)

Citi's regulatory capital ratios and components reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses (CECL) standard. For additional information, see "Capital Resources—Regulatory Capital Treatment—Modified Transition of the Current Expected Credit Losses Methodology" in Citigroup's 2023 Annual Report on Form 10-K.

(10)	For the composition of Citi's SLR, see page 22.

(11)	TCE, RoTCE and Tangible book value per share are non-GAAP financial measures. See page 22 for a reconciliation of Tangible book value per share and Citi's average TCE to Citi's total average stockholders' equity.

Note: Ratios and variance percentages are calculated based on the displayed amounts.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 1

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)
Revenues
Interest income (including dividends)	$	34,837	$	36,379	$	36,223	$	35,987	$	36,456	1%	5%	$	96,879	$	108,666	12%
Interest expense		21,009		22,555		22,716		22,494		23,094	3%	10%		55,803		68,304	22%
Net interest income (NII)		13,828		13,824		13,507		13,493		13,362	(1%)	(3%)		41,076		40,362	(2%)

Commissions and fees		2,195		2,212		2,724		2,662		2,695	1%	23%		6,693		8,081	21%
Principal transactions		3,008		1,473		3,274		2,874		3,219	12%	7%		9,475		9,367	(1%)
Administrative and other fiduciary fees		971		925		1,037		1,046		1,059	1%	9%		2,856		3,142	10%
Realized gains (losses) on sales of investments, net		30		37		115		23		72	NM	NM		151		210	39%
Impairment losses on investments		(70)		(96)		(30)		(17)		(45)	NM	36%		(227)		(92)	59%
Provision for credit losses on available-for-sale (AFS) debt securities⁽¹⁾		(1)		(3)		-		(4)		4	NM	NM		(1)		-	100%
Other revenue (loss)		178		(932)		477		62		(51)	NM	NM		999		488	(51%)
Total non-interest revenues (NIR)		6,311		3,616		7,597		6,646		6,953	5%	10%		19,946		21,196	6%
Total revenues, net of interest expense		20,139		17,440		21,104		20,139		20,315	1%	1%		61,022		61,558	1%


Provisions for credit losses and for benefits and claims
Net credit losses on loans		1,637		1,994		2,303		2,283		2,172	(5%)	33%		4,443		6,758	52%
Credit reserve build / (release) for loans		179		478		119		76		210	NM	17%		871		405	(54%)
Provision for credit losses on loans		1,816		2,472		2,422		2,359		2,382	1%	31%		5,314		7,163	35%
Provision for credit losses on held-to-maturity (HTM) debt securities		(3)		-		10		(5)		50	NM	NM		(24)		55	NM
Provision for credit losses on other assets		56		1,132		4		112		110	(2%)	96%		630		226	(64%)
Policyholder benefits and claims		25		24		27		18		28	56%	12%		63		73	16%
Provision for credit losses on unfunded lending commitments		(54)		(81)		(98)		(8)		105	NM	NM		(344)		(1)	100%
Total provisions for credit losses and for benefits and claims⁽²⁾		1,840		3,547		2,365		2,476		2,675	8%	45%		5,639		7,516	33%

Operating expenses
Compensation and benefits		7,424		6,882		7,673		6,888		7,058	2%	(5%)		22,350		21,619	(3%)
Premises and equipment		620		695		585		597		606	2%	(2%)		1,813		1,788	(1%)
Technology / communication		2,256		2,414		2,246		2,238		2,273	2%	1%		6,692		6,757	1%
Advertising and marketing		324		377		228		280		282	1%	(13%)		1,016		790	(22%)
Restructuring		-		781		225		36		9	(75%)	NM		N/A		270	NM
Other operating		2,887		4,847		3,238		3,314		3,022	(9%)	5%		8,499		9,574	13%
Total operating expenses		13,511		15,996		14,195		13,353		13,250	(1%)	(2%)		40,370		40,798	1%


Income (loss) from continuing operations before income taxes		4,788		(2,103)		4,544		4,310		4,390	2%	(8%)		15,013		13,244	(12%)
Provision (benefit) for income taxes		1,203		(296)		1,136		1,047		1,116	7%	(7%)		3,824		3,299	(14%)

Income (loss) from continuing operations		3,585		(1,807)		3,408		3,263		3,274	-	(9%)		11,189		9,945	(11%)

Discontinued operations
Income (loss) from discontinued operations		2		(1)		(1)		-		(1)	(100%)	NM		-		(2)	NM
Provision (benefit) for income taxes		-		-		-		-		-	-	-		-		-	-
Income (loss) from discontinued operations, net of taxes		2		(1)		(1)		-		(1)	(100%)	NM		-		(2)	NM

Net income (loss) before attribution to noncontrolling interests		3,587		(1,808)		3,407		3,263		3,273	-	(9%)		11,189		9,943	(11%)
Noncontrolling interests		41		31		36		46		35	(24%)	(15%)		122		117	(4%)
Citigroup's net income (loss)	$	3,546	$	(1,839)	$	3,371	$	3,217	$	3,238	1%	(9%)	$	11,067	$	9,826	(11%)

(1)	This presentation is in accordance with ASC 326, which requires the provision for credit losses on AFS debt securities to be included in revenue.

(2)	This total excludes the provision for credit losses on AFS debt securities, which is disclosed separately above.

N/A Not applicable.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 2

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)

											3Q24 Increase/
	September 30,		December 31,		March 31,		June 30,		September 30,		(Decrease) from
	2023		2023		2024		2024		2024⁽¹⁾		2Q24	3Q23
Assets
Cash and due from banks (including segregated cash and other deposits)	$	26,548	$	27,342	$	25,174	$	26,917	$	25,266	(6%)	(5%)
Deposits with banks, net of allowance		227,439		233,590		247,556		219,217		277,828	27%	22%
Securities borrowed and purchased under resale agreements, net of allowance		335,059		345,700		344,264		317,970		285,928	(10%)	(15%)
Brokerage receivables, net of allowance		66,194		53,915		61,314		64,563		63,653	(1%)	(4%)
Trading account assets		406,368		411,756		431,468		446,339		458,072	3%	13%
Investments
Available-for-sale debt securities		241,783		256,936		254,898		249,362		234,444	(6%)	(3%)
Held-to-maturity debt securities, net of allowance		259,456		254,247		252,459		251,125		248,274	(1%)	(4%)
Equity securities		7,759		7,902		7,826		7,789		7,953	2%	3%
Total investments		508,998		519,085		515,183		508,276		490,671	(3%)	(4%)
Loans
Consumer⁽²⁾		377,714		389,197		381,759		386,117		389,151	1%	3%
Corporate⁽³⁾		288,634		300,165		292,819		301,605		299,771	(1%)	4%
Loans, net of unearned income		666,348		689,362		674,578		687,722		688,922	-	3%
Allowance for credit losses on loans (ACLL)		(17,629)		(18,145)		(18,296)		(18,216)		(18,356)	(1%)	(4%)
Total loans, net		648,719		671,217		656,282		669,506		670,566	-	3%
Goodwill		19,829		20,098		20,042		19,704		19,691	-	(1%)
Intangible assets (including MSRs)		4,540		4,421		4,338		4,226		4,121	(2%)	(9%)
Premises and equipment, net of depreciation and amortization		27,959		28,747		29,188		29,399		30,096	2%	8%
Other assets, net of allowance		96,824		95,963		97,701		99,569		104,771	5%	8%
Total assets	$	2,368,477	$	2,411,834	$	2,432,510	$	2,405,686	$	2,430,663	1%	3%

Liabilities
Non-interest-bearing deposits in U.S. offices	$	104,061	$	112,089	$	112,535	$	117,607	$	118,034	-	13%
Interest-bearing deposits in U.S. offices		569,428		576,784		570,259		546,772		558,461	2%	(2%)
Total U.S. deposits		673,489		688,873		682,794		664,379		676,495	2%	-
Non-interest-bearing deposits in offices outside the U.S.		84,663		88,988		87,936		83,150		84,913	2%	-
Interest-bearing deposits in offices outside the U.S.		515,354		530,820		536,433		530,608		548,591	3%	6%
Total international deposits		600,017		619,808		624,369		613,758		633,504	3%	6%

Total deposits		1,273,506		1,308,681		1,307,163		1,278,137		1,309,999	2%	3%
Securities loaned and sold under repurchase agreements		256,770		278,107		299,387		305,206		278,377	(9%)	8%
Brokerage payables		75,076		63,539		73,013		73,621		81,186	10%	8%
Trading account liabilities		164,624		155,345		156,652		151,259		142,534	(6%)	(13%)
Short-term borrowings		43,166		37,457		31,910		38,694		41,340	7%	(4%)
Long-term debt		275,760		286,619		285,495		280,321		299,081	7%	8%
Other liabilities, plus allowances⁽⁴⁾		69,380		75,835		71,492		69,304		68,244	(2%)	(2%)
Total liabilities	$	2,158,282	$	2,205,583	$	2,225,112	$	2,196,542	$	2,220,761	1%	3%

Stockholders' equity
Preferred stock	$	19,495	$	17,600	$	17,600	$	18,100	$	16,350	(10%)	(16%)
Common stock		31		31		31		31		31	-	-
Additional paid-in capital		108,757		108,955		108,592		108,785		108,969	-	-
Retained earnings		202,135		198,905		200,956		202,913		204,770	1%	1%
Treasury stock, at cost		(74,738)		(75,238)		(74,865)		(74,842)		(75,840)	(1%)	(1%)
Accumulated other comprehensive income (loss) (AOCI)		(46,177)		(44,800)		(45,729)		(46,677)		(45,197)	3%	2%
Total common equity	$	190,008	$	187,853	$	188,985	$	190,210	$	192,733	1%	1%

Total Citigroup stockholders' equity	$	209,503	$	205,453	$	206,585	$	208,310	$	209,083	-	-
Noncontrolling interests		692		798		813		834		819	(2%)	18%
Total equity		210,195		206,251		207,398		209,144		209,902	-	-
Total liabilities and equity	$	2,368,477	$	2,411,834	$	2,432,510	$	2,405,686	$	2,430,663	1%	3%

(1)	September 30, 2024 is preliminary.

(2)	Consumer loans include loans managed by USPB, Wealth, and All Other—Legacy Franchises (other than Mexico small business and middle-market banking (Mexico SBMM), and the Assets Finance Group (AFG)).

(3)	Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Mexico SBMM, and the AFG.

(4)	Includes allowance for credit losses for unfunded lending commitments. See page 19.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 3

OPERATING SEGMENT, REPORTING UNIT, AND COMPONENT DETAILS

(In millions of dollars)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)
Revenues, net of interest expense
Services	$	4,636	$	4,517	$	4,766	$	4,680	$	5,028	7%	8%	$	13,585	$	14,474	7%
Markets		4,748		3,366		5,357		5,086		4,817	(5%)	1%		15,283		15,260	-
Banking		1,373		978		1,736		1,627		1,597	(2%)	16%		3,737		4,960	33%
U.S. Personal Banking (USPB)		4,917		4,940		5,178		4,919		5,045	3%	3%		14,247		15,142	6%
Wealth		1,831		1,664		1,693		1,814		2,002	10%	9%		5,357		5,509	3%
All Other—managed basis⁽¹⁾⁽²⁾		2,238		2,037		2,386		1,980		1,825	(8%)	(18%)		7,405		6,191	(16%)
Reconciling Items—divestiture-related impacts⁽³⁾		396		(62)		(12)		33		1	(97%)	(100%)		1,408		22	(98%)
Total net revenues—reported	$	20,139	$	17,440	$	21,104	$	20,139	$	20,315	1%	1%	$	61,022	$	61,558	1%

Income (loss) from continuing operations
Services	$	1,355	$	807	$	1,515	$	1,498	$	1,683	12%	24%	$	3,894	$	4,696	21%
Markets		1,065		(128)		1,421		1,469		1,089	(26%)	2%		4,066		3,979	(2%)
Banking		157		(296)		527		409		236	(42%)	50%		265		1,172	NM
USPB		756		201		347		121		522	NM	(31%)		1,619		990	(39%)
Wealth		132		21		175		210		283	35%	NM		398		668	68%
All Other—managed basis⁽¹⁾⁽²⁾		(94)		(2,301)		(483)		(412)		(494)	(20%)	NM		177		(1,389)	NM
Reconciling Items—divestiture-related impacts⁽³⁾		214		(111)		(94)		(32)		(45)	(41%)	NM		770		(171)	NM
Income (loss) from continuing operations—reported		3,585		(1,807)		3,408		3,263		3,274	-	(9%)		11,189		9,945	(11%)

Discontinued operations		2		(1)		(1)		-		(1)	(100%)	NM		-		(2)	NM

Net income (loss) attributable to noncontrolling interests		41		31		36		46		35	(24%)	(15%)		122		117	(4%)

Net income (loss)	$	3,546	$	(1,839)	$	3,371	$	3,217	$	3,238	1%	(9%)	$	11,067	$	9,826	(11%)

(1)

Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal, and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses, and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

(2)

Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico consumer banking, small business and middle-market banking (Mexico Consumer/SBMM) within Legacy Franchises. See page 14 for additional information.

(3)	Reconciling Items consist of the divestiture-related impacts excluded from All Other on a managed basis. See page 14 for additional information. The Reconciling Items are fully reflected in the various line items in Citi's Consolidated Statement of Income (page 2).

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 4

SERVICES

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)


Net interest income (including dividends)	$	3,440	$	3,442	$	3,317	$	3,225	$	3,435	7%	-	$	9,809	$	9,977	2%
Fee revenue
Commissions and fees		782		815		797		867		847	(2%)	8%		2,310		2,511	9%
Fiduciary and administrative, and other		630		606		685		695		701	1%	11%		1,895		2,081	10%
Total fee revenue		1,412		1,421		1,482		1,562		1,548	(1%)	10%		4,205		4,592	9%
Principal transactions		267		271		248		182		266	46%	-		735		696	(5%)
All other⁽¹⁾		(483)		(617)		(281)		(289)		(221)	24%	54%		(1,164)		(791)	32%
Total non-interest revenue		1,196		1,075		1,449		1,455		1,593	9%	33%		3,776		4,497	19%
Total revenues, net of interest expense		4,636		4,517		4,766		4,680		5,028	7%	8%		13,585		14,474	7%
Total operating expenses		2,520		2,596		2,666		2,734		2,588	(5%)	3%		7,435		7,988	7%
Net credit losses (recoveries) on loans		27		(6)		6		-		14	NM	(48%)		46		20	(57%)
Credit reserve build (release) for loans		6		127		34		(100)		7	NM	17%		(80)		(59)	26%
Provision (release) for credit losses on unfunded lending commitments		23		(22)		12		2		7	NM	(70%)		4		21	NM
Provisions for credit losses for other assets and HTM debt securities		39		547		12		71		99	39%	NM		334		182	(46%)
Provision for credit losses		95		646		64		(27)		127	NM	34%		304		164	(46%)
Income from continuing operations before taxes		2,021		1,275		2,036		1,973		2,313	17%	14%		5,846		6,322	8%
Income taxes		666		468		521		475		630	33%	(5%)		1,952		1,626	(17%)
Income from continuing operations		1,355		807		1,515		1,498		1,683	12%	24%		3,894		4,696	21%
Noncontrolling interests		16		21		25		27		32	19%	100%		45		84	87%
Net income	$	1,339	$	786	$	1,490	$	1,471	$	1,651	12%	23%	$	3,849	$	4,612	20%
EOP assets (in billions)	$	552	$	586	$	577	$	569	$	608	7%	10%
Average assets (in billions)		566		582		580		575		591	3%	4%	$	583	$	582	-
Efficiency ratio		54%		57%		56%		58%		51%	(700) bps	(300) bps		55%		55%	0 bps
Average allocated TCE (in billions)⁽²⁾	$	23.0	$	23.0	$	24.9	$	24.9	$	24.9	-	8%	$	23.0	$	24.9	8%
RoTCE⁽²⁾		23.1%		13.6%		24.1%		23.8%		26.4%	260 bps	330 bps		22.4%		24.7%	230 bps

Revenue by component
Net interest income	$	2,868	$	2,887	$	2,723	$	2,629	$	2,731	4%	(5%)	$	8,198	$	8,083	(1%)
Non-interest revenue		645		557		793		802		909	13%	41%		2,074		2,504	21%
Treasury and Trade Solutions (TTS)		3,513		3,444		3,516		3,431		3,640	6%	4%		10,272		10,587	3%
Net interest income		572		555		594		596		704	18%	23%		1,611		1,894	18%
Non-interest revenue		551		518		656		653		684	5%	24%		1,702		1,993	17%
Securities Services		1,123		1,073		1,250		1,249		1,388	11%	24%		3,313		3,887	17%
Total Services	$	4,636	$	4,517	$	4,766	$	4,680	$	5,028	7%	8%	$	13,585	$	14,474	7%

Revenue by geography
North America	$	1,333	$	1,299	$	1,243	$	1,298	$	1,367	5%	3%	$	3,832	$	3,908	2%
International		3,303		3,218		3,523		3,382		3,661	8%	11%		9,753		10,566	8%
Total	$	4,636	$	4,517	$	4,766	$	4,680	$	5,028	7%	8%	$	13,585	$	14,474	7%

Key drivers⁽³⁾ (in billions of dollars, except as otherwise noted)
Average loans by reporting unit
TTS	$	82	$	82	$	81	$	81	$	86	6%	5%	$	80	$	83	4%
Securities Services		1		1		1		1		1	-	-		1		1	-
Total	$	83	$	83	$	82	$	82	$	87	6%	5%	$	81	$	84	4%

ACLL as a % of EOP loans⁽⁴⁾		0.33%		0.47%		0.54%		0.37%		0.38%	1 bps	5 bps

Average deposits by reporting unit and selected component
TTS	$	677	$	681	$	684	$	677	$	690	2%	2%	$	691	$	683	(1%)
Securities Services		120		122		124		127		135	6%	13%		123		129	5%
Total	$	797	$	803	$	808	$	804	$	825	3%	4%	$	814	$	812	-

AUC/AUA (in trillions of dollars)⁽⁵⁾	$	21.5	$	23.5	$	24.0	$	24.2	$	26.3	9%	22%
Cross-border transaction value⁽⁶⁾	$	87.8	$	99.4	$	90.7	$	92.7	$	95.0	2%	8%	$	258.6	$	278.4	8%
U.S. dollar clearing volume (in millions)⁽⁷⁾		40.0		40.2		39.6		41.6		42.7	3%	7%		117.1		123.9	6%
Commercial card spend volumes	$	16.9	$	16.6	$	16.8	$	18.0	$	18.3	2%	8%	$	50.2	$	53.1	6%

(1)	Services includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to Corporate Lending clients.

(2)	TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

(3)	Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.

(4)	Excludes loans that are carried at fair value for all periods.

(5)	3Q24 is preliminary.

(6)	Represents the total value of cross-border foreign exchange payments processed through Citi platforms.

(7)	Represents the number of U.S. dollar Clearing Payment instructions processed on behalf of U.S. and foreign-domiciled entities (primarily financial institutions).

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 5

MARKETS

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)

Net interest income (including dividends)	$	1,695	$	1,987	$	1,706	$	2,038	$	1,405	(31%)	(17%)	$	5,246	$	5,149	(2%)
Fee revenue
Brokerage and fees		337		328		336		346		391	13%	16%		1,053		1,073	2%
Investment banking fees⁽¹⁾		103		103		100		104		118	13%	15%		289		322	11%
Other⁽²⁾		31		46		62		62		64	3%	NM		101		188	86%
Total fee revenue		471		477		498		512		573	12%	22%		1,443		1,583	10%

Principal transactions		2,853		1,212		3,178		2,696		2,847	6%	-		9,260		8,721	(6%)
All other⁽³⁾		(271)		(310)		(25)		(160)		(8)	95%	97%		(666)		(193)	71%
Total non-interest revenue		3,053		1,379		3,651		3,048		3,412	12%	12%		10,037		10,111	1%
Total revenues, net of interest expense		4,748		3,366		5,357		5,086		4,817	(5%)	1%		15,283		15,260	-
Total operating expenses		3,310		3,436		3,384		3,305		3,339	1%	1%		9,822		10,028	2%
Net credit losses (recoveries) on loans		(4)		30		78		66		24	(64%)	NM		2		168	NM
Credit reserve build (release) for loans		119		40		120		(111)		37	NM	(69%)		162		46	(72%)
Provision (release) for credit losses on unfunded lending commitments		5		12		(1)		2		47	NM	NM		(7)		48	NM
Provisions for credit losses for other assets and HTM debt securities		42		127		2		32		33	3%	(21%)		72		67	(7%)
Provision for credit losses		162		209		199		(11)		141	NM	(13%)		229		329	44%
Income (loss) from continuing operations before taxes		1,276		(279)		1,774		1,792		1,337	(25%)	5%		5,232		4,903	(6%)
Income taxes (benefits)		211		(151)		353		323		248	(23%)	18%		1,166		924	(21%)
Income (loss) from continuing operations		1,065		(128)		1,421		1,469		1,089	(26%)	2%		4,066		3,979	(2%)
Noncontrolling interests		15		12		15		26		17	(35%)	13%		55		58	5%
Net income (loss)	$	1,050	$	(140)	$	1,406	$	1,443	$	1,072	(26%)	2%	$	4,011	$	3,921	(2%)
EOP assets (in billions)	$	1,009	$	1,008	$	1,038	$	1,023	$	1,002	(2%)	(1%)
Average assets (in billions)		1,026		1,033		1,048		1,064		1,082	2%	5%	$	1,024	$	1,065	4%
Efficiency ratio		70%		102%		63%		65%		69%	400 bps	(100) bps		64%		66%	200 bps
Average allocated TCE (in billions)⁽⁴⁾	$	53.1	$	53.1	$	54.0	$	54.0	$	54.0	-	2%	$	53.1	$	54.0	2%
RoTCE⁽⁴⁾		7.8%		(1.0%)		10.5%		10.7%		7.9%	(280) bps	10 bps		10.1%		9.7%	(40) bps

Revenue by component
Fixed Income markets	$	3,806	$	2,547	$	4,130	$	3,564	$	3,578	-	(6%)	$	12,065	$	11,272	(7%)
Equity markets		942		819		1,227		1,522		1,239	(19%)	32%		3,218		3,988	24%
Total	$	4,748	$	3,366	$	5,357	$	5,086	$	4,817	(5%)	1%	$	15,283	$	15,260	-

Rates and currencies	$	2,747	$	1,737	$	2,800	$	2,466	$	2,465	-	(10%)	$	9,057	$	7,731	(15%)
Spread products / other fixed income		1,059		810		1,330		1,098		1,113	1%	5%		3,008		3,541	18%
Total Fixed Income markets revenues	$	3,806	$	2,547	$	4,130	$	3,564	$	3,578	-	(6%)	$	12,065	$	11,272	(7%)

Revenue by geography
North America	$	1,901	$	1,227	$	2,067	$	2,031	$	1,773	(13%)	(7%)	$	5,612	$	5,871	5%
International		2,847		2,139		3,290		3,055		3,044	-	7%		9,671		9,389	(3%)
Total	$	4,748	$	3,366	$	5,357	$	5,086	$	4,817	(5%)	1%	$	15,283	$	15,260	-

Key drivers⁽⁵⁾ (in billions of dollars)
Average loans	$	108	$	115	$	120	$	119	$	119	-	10%	$	109	$	119	9%
NCLs as a % of average loans		(0.01%)		0.10%		0.26%		0.22%		0.08%	(14) bps	9 bps		0.00%		0.19%	19 bps
ACLL as a % of EOP loans⁽⁶⁾		0.77%		0.71%		0.86%		0.74%		0.77%	3 bps	0 bps
Average trading account assets	$	393	$	392	$	408	$	426	$	462	8%	18%	$	375	$	432	15%
Average deposits⁽⁷⁾		23		23		24		25		19	(24%)	(17%)		23		23	-

(1)	Investment banking fees are primarily composed of underwriting, advisory, loan syndication structuring, and other related financing activity.

(2)	Primarily includes other non-brokerage and investment banking fees from customer-driven activities.

(3)	Markets includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to Corporate Lending clients.

(4)	TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

(5)	Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.

(6)	Excludes loans that are carried at fair value for all periods.

(7)	During the third quarter of 2024, approximately $9 billion of Institutional deposits were moved from Markets to Corporate/Other, as they are managed by Citi Treasury. Prior periods were not impacted.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 6

BANKING

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)
Net interest income (including dividends)	$	555	$	551	$	582	$	527	$	527	-	(5%)	$	1,610	$	1,636	2%
Fee revenue
Investment banking fees⁽¹⁾		694		706		972		935		999	7%	44%		2,007		2,906	45%
Other⁽²⁾		40		38		42		50		31	(38%)	(23%)		122		123	1%
Total fee revenue		734		744		1,014		985		1,030	5%	40%		2,129		3,029	42%
Principal transactions		(164)		(223)		(227)		(126)		(197)	(56%)	(20%)		(715)		(550)	23%
All other⁽³⁾		248		(94)		367		241		237	(2%)	(4%)		713		845	19%
Total non-interest revenue		818		427		1,154		1,100		1,070	(3%)	31%		2,127		3,324	56%

Total revenues, net of interest expense		1,373		978		1,736		1,627		1,597	(2%)	16%		3,737		4,960	33%
Total operating expenses		1,225		1,161		1,179		1,131		1,116	(1%)	(9%)		3,716		3,426	(8%)

Net credit losses on loans		29		71		66		40		36	(10%)	24%		98		142	45%
Credit reserve build (release) for loans		(22)		(163)		(89)		(51)		62	NM	NM		(182)		(78)	57%
Provision (release) for credit losses on unfunded lending commitments		(64)		(63)		(96)		(9)		59	NM	NM		(291)		(46)	84%
Provisions for credit losses for other assets and HTM debt securities		1		339		(10)		(12)		20	NM	NM		48		(2)	NM
Provision for credit losses		(56)		184		(129)		(32)		177	NM	NM		(327)		16	NM
Income (loss) from continuing operations before taxes		204		(367)		686		528		304	(42%)	49%		348		1,518	NM
Income taxes (benefits)		47		(71)		159		119		68	(43%)	45%		83		346	NM
Income (loss) from continuing operations		157		(296)		527		409		236	(42%)	50%		265		1,172	NM
Noncontrolling interests		1		-		3		3		(2)	NM	NM		4		4	-
Net income (loss)	$	156	$	(296)	$	524	$	406	$	238	(41%)	53%	$	261	$	1,168	NM
EOP assets (in billions)	$	146	$	148	$	151	$	147	$	151	3%	3%
Average assets (in billions)		151		150		154		152		152	-	1%	$	154	$	153	(1%)
Efficiency ratio		89%		119%		68%		70%		70%	0 bps	(1,900) bps		99%		69%	(3,000) bps
Average allocated TCE (in billions)⁽⁴⁾	$	21.4	$	21.4	$	21.8	$	21.8	$	21.8	-	2%	$	21.4	$	21.8	2%
RoTCE⁽⁴⁾		2.9%		(5.5%)		9.7%		7.5%		4.3%	(320) bps	140 bps		1.6%		7.2%	560 bps

Revenue by component
Total Investment Banking	$	711	$	687	$	925	$	853	$	934	9%	31%	$	1,945	$	2,712	39%
Corporate Lending—excluding gain/(loss) on loan hedges⁽³⁾⁽⁵⁾		709		422		915		765		742	(3%)	5%		2,104		2,422	15%
Total Banking revenues (ex-gain/(loss) on loan hedges)⁽³⁾⁽⁵⁾		1,420		1,109		1,840		1,618		1,676	4%	18%		4,049		5,134	27%
Gain/(loss) on loan hedges⁽³⁾⁽⁵⁾		(47)		(131)		(104)		9		(79)	NM	(68%)		(312)		(174)	44%
Total Banking revenues including gain/(loss) on loan hedges⁽³⁾⁽⁵⁾	$	1,373	$	978	$	1,736	$	1,627	$	1,597	(2%)	16%	$	3,737	$	4,960	33%

Business metrics—investment banking fees
Advisory	$	299	$	286	$	230	$	268	$	394	47%	32%	$	731	$	892	22%
Equity underwriting (Equity Capital Markets (ECM))		123		110		171		174		129	(26%)	5%		390		474	22%
Debt underwriting (Debt Capital Markets (DCM))		272		310		571		493		476	(3%)	75%		886		1,540	74%
Total	$	694	$	706	$	972	$	935	$	999	7%	44%	$	2,007	$	2,906	45%

Revenue by geography
North America	$	623	$	402	$	773	$	749	$	837	12%	34%	$	1,496	$	2,359	58%
International		750		576		963		878		760	(13%)	1%		2,241		2,601	16%
Total	$	1,373	$	978	$	1,736	$	1,627	$	1,597	(2%)	16%	$	3,737	$	4,960	33%

Key drivers⁽⁶⁾ (in billions of dollars)
Average loans	$	89	$	89	$	89	$	89	$	88	(1%)	(1%)	$	92	$	89	(3%)
NCLs as a % of average loans		0.13%		0.32%		0.30%		0.18%		0.16%	(2) bps	3 bps		0.14%		0.21%	7 bps
ACLL as a % of EOP loans⁽⁷⁾		1.75%		1.59%		1.47%		1.42%		1.54%	12 bps	(21) bps
Average deposits		1		1		1		1		1	-	-		1		1	-

(1)	Investment banking fees are primarily composed of underwriting, advisory, loan syndication structuring, and other related financing activity.

(2)	Primarily includes other non-investment banking fees from customer-driven activities.

(3)	Banking includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to Corporate Lending clients.

(4)	TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

(5)

Credit derivatives are used to economically hedge a portion of the corporate loan portfolio that includes both accrual loans and loans at fair value. Gain (loss) on loan hedges includes the mark-to-market on the credit derivatives, partially offset by the mark-to-market on the loans in the portfolio that are at fair value. Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio. The fixed premium costs of these hedges are netted against the corporate lending revenues to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain (loss) on loan hedges are non-GAAP financial measures.

(6)	Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.

(7)	Excludes loans that are carried at fair value for all periods.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 7

U.S. PERSONAL BANKING

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)

Net interest income	$	5,175	$	5,238	$	5,226	$	5,103	$	5,293	4%	2%	$	14,912	$	15,622	5%
Fee revenue
Interchange fees		2,434		2,481		2,352		2,524		2,469	(2%)	1%		7,193		7,345	2%
Card rewards and partner payments		(2,777)		(2,889)		(2,580)		(2,847)		(2,839)	-	(2%)		(8,194)		(8,266)	(1%)
Other⁽¹⁾		75		98		105		114		110	(4%)	47%		251		329	31%
Total fee revenue		(268)		(310)		(123)		(209)		(260)	(24%)	3%		(750)		(592)	21%
All other⁽²⁾		10		12		75		25		12	(52%)	20%		85		112	32%
Total non-interest revenue		(258)		(298)		(48)		(184)		(248)	(35%)	4%		(665)		(480)	28%

Total revenues, net of interest expense		4,917		4,940		5,178		4,919		5,045	3%	3%		14,247		15,142	6%

Total operating expenses		2,481		2,594		2,519		2,442		2,457	1%	(1%)		7,508		7,418	(1%)

Net credit losses on loans		1,343		1,599		1,864		1,931		1,864	(3%)	39%		3,635		5,659	56%
Credit reserve build (release) for loans		114		471		337		382		41	(89%)	(64%)		993		760	(23%)
Provision (release) for credit losses on unfunded lending commit.		(1)		1		-		-		-	-	100%		-		-	-
Provisions for benefits and claims (PBC), and other assets		3		3		3		2		4	100%	33%		5		9	80%
Provisions for credit losses and for PBC		1,459		2,074		2,204		2,315		1,909	(18%)	31%		4,633		6,428	39%
Income from continuing operations before taxes		977		272		455		162		679	NM	(31%)		2,106		1,296	(38%)
Income taxes		221		71		108		41		157	NM	(29%)		487		306	(37%)
Income from continuing operations		756		201		347		121		522	NM	(31%)		1,619		990	(39%)
Noncontrolling interests		-		-		-		-		-	-	-		-		-	-
Net income	$	756	$	201	$	347	$	121	$	522	NM	(31%)	$	1,619	$	990	(39%)
EOP assets (in billions)	$	231	$	242	$	237	$	242	$	245	1%	6%
Average assets (in billions)		230		232		233		239		244	2%	6%	$	230	$	239	4%
Efficiency ratio		50%		53%		49%		50%		49%	(100) bps	(100) bps		53%		49%	(400) bps
Average allocated TCE (in billions)⁽³⁾	$	21.9	$	21.9	$	25.2	$	25.2	$	25.2	-	15%	$	21.9	$	25.2	15%
RoTCE⁽³⁾		13.7%		3.6%		5.5%		1.9%		8.2%	630 bps	(550) bps		9.9%		5.2%	(470) bps

Revenue by component
Branded Cards	$	2,539	$	2,620	$	2,640	$	2,537	$	2,731	8%	8%	$	7,368	$	7,908	7%
Retail Services		1,728		1,636		1,900		1,746		1,715	(2%)	(1%)		4,981		5,361	8%
Retail Banking		650		684		638		636		599	(6%)	(8%)		1,898		1,873	(1%)
Total	$	4,917	$	4,940	$	5,178	$	4,919	$	5,045	3%	3%	$	14,247	$	15,142	6%

Average loans and deposits⁽⁴⁾(in billions)
Average loans	$	196	$	202	$	204	$	206	$	210	2%	7%	$	189	$	207	10%
ACLL as a % of EOP loans⁽⁵⁾		6.36%		6.28%		6.58%		6.60%		6.52%	(8)bps	16 bps
Average deposits		110		105		100		93		85	(9%)	(23%)		111		93	(16%)

(1)	Primarily related to retail banking and credit card-related fees.

(2)	Primarily related to revenue incentives from card networks and partners.

(3)	TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

(4)	Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.

(5)	Excludes loans that are carried at fair value for all periods.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 8

U.S. PERSONAL BANKING

Metrics

											3Q24 Increase/
	3Q		4Q		1Q		2Q		3Q		(Decrease) from
	2023		2023		2024		2024		2024		2Q24	3Q23

U.S. Personal Banking Key Indicators (in billions of dollars, except as otherwise noted)

New account acquisitions (in thousands)
Branded Cards		1,146		1,105		1,170		1,144		1,224	7%	7%
Retail Services		2,152		2,617		1,658		2,034		1,799	(12%)	(16%)
Credit card spend volumes
Branded Cards	$	125.2	$	129.5	$	120.9	$	130.9	$	128.9	(2%)	3%
Retail Services		23.3		26.0		20.0		23.7		21.7	(8%)	(7%)
Average loans⁽¹⁾
Branded Cards	$	103.2	$	106.6	$	107.5	$	109.3	$	111.1	2%	8%
Retail Services		50.2		51.6		51.7		51.0		51.2	-	2%
Retail Banking		42.2		43.9		45.0		46.0		48.0	4%	14%
EOP loans⁽¹⁾
Branded Cards	$	105.2	$	111.1	$	108.0	$	111.8	$	112.1	-	7%
Retail Services		50.5		53.6		50.8		51.7		51.6	-	2%
Retail Banking		43.1		44.4		45.6		46.2		49.4	7%	15%
Total revenues, net of interest expenses as a % of average loans
Branded Cards		9.76%		9.75%		9.88%		9.34%		9.78%
Retail Services		13.66%		12.58%		14.78%		13.77%		13.33%
NII as a % of average loans⁽²⁾
Branded Cards		9.12%		9.17%		9.30%		8.93%		9.20%
Retail Services		17.77%		16.99%		17.20%		16.92%		17.12%
NCLs as a % of average loans
Branded Cards		2.72%		3.06%		3.65%		3.82%		3.56%
Retail Services		4.53%		5.44%		6.32%		6.45%		6.14%
Retail Banking		0.59%		0.62%		0.69%		0.66%		0.66%
Loans 90+ days past due as a % of EOP loans
Branded Cards		0.92%		1.07%		1.19%		1.09%		1.11%
Retail Services		2.12%		2.36%		2.53%		2.36%		2.45%
Retail Banking⁽³⁾		0.38%		0.40%		0.35%		0.36%		0.35%
Loans 30-89 days past due as a % of EOP loans
Branded Cards		0.97%		1.03%		1.01%		0.94%		1.05%
Retail Services		2.13%		2.15%		2.18%		2.06%		2.29%
Retail Banking⁽³⁾		0.55%		0.62%		0.53%		0.55%		0.49%
Branches (actual)		652		647		645		641		641	-	(2%)
Mortgage originations	$	3.9	$	2.8	$	3.1	$	4.3	$	4.6	7%	18%

(1)	Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(2)	Net interest income includes certain fees that are recorded as interest revenue.

(3)	Excludes U.S. government-sponsored agency guaranteed loans.

Reclassified to conform to the current period's presentation.

Page 9

WEALTH

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)

Net interest income	$	1,164	$	1,042	$	981	$	1,047	$	1,233	18%	6%	$	3,371	$	3,261	(3%)
Fee revenue
Commissions and fees		300		296		344		349		349	-	16%		908		1,042	15%
Other⁽¹⁾		215		209		231		232		241	4%	12%		593		704	19%
Total fee revenue		515		505		575		581		590	2%	15%		1,501		1,746	16%
All other⁽²⁾		152		117		137		186		179	(4%)	18%		485		502	4%
Total non-interest revenue		667		622		712		767		769	-	15%		1,986		2,248	13%
Total revenues, net of interest expense		1,831		1,664		1,693		1,814		2,002	10%	9%		5,357		5,509	3%

Total operating expenses		1,669		1,623		1,642		1,542		1,601	4%	(4%)		4,862		4,785	(2%)
Net credit losses on loans		24		31		29		35		27	(23%)	13%		67		91	36%
Credit reserve build (release) for loans		(19)		(27)		(190)		(43)		8	NM	NM		(58)		(225)	NM
Provision (release) for credit losses on unfunded lending commitments		(8)		1		(8)		-		(1)	(100%)	88%		(13)		(9)	31%
Provisions for benefits and claims (PBC), and other assets		1		(1)		(1)		(1)		(1)	-	NM		(3)		(3)	-
Provisions for credit losses and for PBC		(2)		4		(170)		(9)		33	NM	NM		(7)		(146)	NM
Income from continuing operations before taxes		164		37		221		281		368	31%	NM		502		870	73%
Income taxes		32		16		46		71		85	20%	NM		104		202	94%
Income from continuing operations		132		21		175		210		283	35%	NM		398		668	68%
Noncontrolling interests		-		-		-		-		-	-	-		-		-	-
Net income	$	132	$	21	$	175	$	210	$	283	35%	NM	$	398	$	668	68%
EOP assets (in billions)	$	233	$	229	$	229	$	228	$	230	1%	(1%)
Average assets (in billions)		238		232		236		230		229	-	(4%)	$	248	$	232	(6%)
Efficiency ratio		91%		98%		97%		85%		80%	(500) bps	(1,100) bps		91%		87%	(400) bps
Average allocated TCE (in billions)⁽³⁾	$	13.4	$	13.4	$	13.2	$	13.2	$	13.2	-	(1%)	$	13.4	$	13.2	(1%)
RoTCE⁽³⁾		3.9%		0.6%		5.3%		6.4%		8.5%	210 bps	460 bps		4.0%		6.8%	280 bps

Revenue by component
Private Bank	$	617	$	542	$	571	$	611	$	614	-	-	$	1,790	$	1,796	-
Wealth at Work		234		211		181		195		244	25%	4%		651		620	(5%)
Citigold		980		911		941		1,008		1,144	13%	17%		2,916		3,093	6%
Total	$	1,831	$	1,664	$	1,693	$	1,814	$	2,002	10%	9%	$	5,357	$	5,509	3%

Revenue by geography
North America	$	953	$	858	$	773	$	847	$	1,000	18%	5%	$	2,757	$	2,620	(5%)
International		878		806		920		967		1,002	4%	14%		2,600		2,889	11%
Total	$	1,831	$	1,664	$	1,693	$	1,814	$	2,002	10%	9%	$	5,357	$	5,509	3%

Key drivers⁽⁴⁾ (in billions of dollars)

EOP client balances
Client investment assets⁽⁵⁾⁽⁶⁾	$	469	$	496	$	514	$	541	$	580	7%	24%
Deposits		302		319		320		318		316	(1%)	5%
Loans		151		151		149		150		151	1%	-
Total	$	922	$	966	$	983	$	1,009	$	1,047	4%	14%

Average loans	$	151	$	150	$	150	$	150	$	150	-	(1%)	$	150	$	150	-
ACLL as a % of EOP loans		0.53%		0.51%		0.39%		0.35%		0.36%	1 bps	(17) bps

(1)	Primarily related to fiduciary and administrative fees.

(2)	Primarily related to principal transactions revenue including FX translation.

(3)	TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

(4)	Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.

(5)	Includes assets under management, and trust and custody assets.

(6)	3Q24 is preliminary.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 10

ALL OTHER—MANAGED BASIS^(1)(2)(3)

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)

Net interest income	$	1,799	$	1,564	$	1,695	$	1,553	$	1,469	(5%)	(18%)	$	6,128	$	4,717	(23%)
Non-interest revenue⁽⁴⁾⁽⁹⁾		439		473		691		427		356	(17%)	(19%)		1,277		1,474	15%
Total revenues, net of interest expense		2,238		2,037		2,386		1,980		1,825	(8%)	(18%)		7,405		6,191	(16%)
Total operating expenses^{(4)(5)(6)(7)(8)(9)}		2,192		4,480		2,695		2,114		2,082	(2%)	(5%)		6,761		6,891	2%
Net credit losses on loans		237		236		249		214		208	(3%)	(12%)		634		671	6%
Credit reserve build (release) for loans		(21)		93		(93)		(1)		55	NM	NM		34		(39)	NM
Provision (release) for credit losses on unfunded lending commitments		(9)		(10)		(5)		(3)		(7)	NM	22%		(37)		(15)	59%
Provisions for benefits and claims, other assets and HTM debt securities		(8)		141		35		33		33	-	NM		213		101	(53%)
Provisions for credit losses and for benefits and claims (PBC)		199		460		186		243		289	19%	45%		844		718	(15%)
Income (loss) from continuing operations before taxes		(153)		(2,903)		(495)		(377)		(546)	(45%)	NM		(200)		(1,418)	NM
Income taxes (benefits)		(59)		(602)		(12)		35		(52)	NM	12%		(377)		(29)	92%
Income (loss) from continuing operations		(94)		(2,301)		(483)		(412)		(494)	(20%)	NM		177		(1,389)	NM
Income (loss) from discontinued operations, net of taxes		2		(1)		(1)		-		(1)	(100%)	NM		-		(2)	NM
Noncontrolling interests		9		(2)		(7)		(10)		(12)	(20%)	NM		18		(29)	NM
Net income (loss)	$	(101)	$	(2,300)	$	(477)	$	(402)	$	(483)	(20%)	NM	$	159	$	(1,362)	NM
EOP assets (in billions)	$	197	$	199	$	201	$	197	$	195	(1%)	(1%)
Average assets (in billions)		203		198		199		197		194	(2%)	(4%)	$	208	$	195	(6%)
Efficiency ratio		98%		220%		113%		107%		114%	700 bps	1,600 bps		91%		111%	2,000 bps
Average allocated TCE (in billions)⁽¹⁰⁾	$	32.5	$	32.4	$	25.6	$	27.0	$	29.2	8%	(10%)	$	30.4	$	27.4	(10%)

Revenue by reporting unit and component
Mexico Consumer/SBMM	$	1,527	$	1,460	$	1,571	$	1,640	$	1,526	(7%)	-	$	4,233	$	4,737	12%
Asia Consumer		289		257		254		220		193	(12%)	(33%)		1,267		667	(47%)
Legacy Holdings Assets (LHA)		25		11		4		(133)		20	NM	(20%)		99		(109)	NM
Corporate/Other		397		309		557		253		86	(66%)	(78%)		1,806		896	(50%)
Total	$	2,238	$	2,037	$	2,386	$	1,980	$	1,825	(8%)	(18%)	$	7,405	$	6,191	(16%)

Mexico Consumer/SBMM—key indicators (in billions of dollars)
EOP loans	$	24.0	$	25.2	$	26.0	$	24.5	$	23.5	(4%)	(2%)
EOP deposits		38.3		40.2		41.0		37.6		34.6	(8%)	(10%)
Average loans		24.0		23.9		25.0		25.3		23.9	(6%)	-
NCLs as a % of average loans (Mexico Consumer only)		4.12%		4.35%		4.67%		4.30%		4.36%	1%	6%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		1.32%		1.35%		1.32%		1.32%		1.37%	4%	4%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		1.33%		1.35%		1.33%		1.33%		1.47%	11%	11%

Asia Consumer—key indicators (in billions of dollars)
EOP loans	$	8.0	$	7.4	$	6.5	$	5.6	$	5.5	(2%)	(31%)
EOP deposits		10.8		9.5		9.0		8.3		8.4	1%	(22%)
Average loans		8.6		7.8		6.9		6.1		5.6	(8%)	(35%)

Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans	$	2.8	$	2.8	$	2.7	$	2.4	$	2.5	4%	(11%)

(1)

Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

(2)	Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information.

(3)	Certain of the results of operations of All Other—managed basis are non-GAAP financial measures. See page 14 for additional information.

(4)	See footnote 2 on page 14.

(5)	See footnote 3 on page 14.

(6)	See footnote 4 on page 14.

(7)	See footnote 5 on page 14.

(8)	See footnote 6 on page 14.

(9)	See footnote 7 on page 14.

(10)	TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 11

ALL OTHER—MANAGED BASIS⁽¹⁾⁽²⁾

Legacy Franchises⁽³⁾

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q			3Q	(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024			2024	2Q24	3Q23	2023		2024		(Decrease)

Net interest income	$	1,273	$	1,179	$	1,278	$	1,196	$	1,253	5%	(2%)	$	3,842	$	3,727	(3%)
Non-interest revenue⁽⁴⁾⁽⁹⁾		568		549		551		531		486	(8%)	(14%)		1,757		1,568	(11%)
Total revenues, net of interest expense		1,841		1,728		1,829		1,727		1,739	1%	(6%)		5,599		5,295	(5%)
Total operating expenses^{(4)(5)(6)(7)(8)(9)}		1,692		1,639		1,615		1,558		1,480	(5%)	(13%)		5,124		4,653	(9%)
Net credit losses on loans		237		236		249		214		208	(3%)	(12%)		634		671	6%
Credit reserve build (release) for loans		(21)		93		(93)		(1)		55	NM	NM		34		(39)	NM
Provision (release) for credit losses on unfunded lending commitments		(9)		(10)		(5)		(3)		(7)	NM	22%		(37)		(15)	59%
Provisions for benefits and claims (PBC), other assets and HTM debt securities		(7)		152		37		28		35	25%	NM		213		100	(53%)
Provisions for credit losses and for PBC		200		471		188		238		291	22%	46%		844		717	(15%)
Income (loss) from continuing operations before taxes		(51)		(382)		26		(69)		(32)	54%	37%		(369)		(75)	80%
Income taxes (benefits)		22		(114)		23		(11)		(1)	91%	NM		(205)		11	NM
Income (loss) from continuing operations		(73)		(268)		3		(58)		(31)	47%	58%		(164)		(86)	48%
Noncontrolling interests		2		1		2		-		-	-	(100%)		7		2	(71%)
Net income (loss)	$	(75)	$	(269)	$	1	$	(58)	$	(31)	47%	59%	$	(171)	$	(88)	49%
EOP assets (in billions)	$	78	$	78	$	80	$	72	$	69	(4%)	(12%)
Average assets (in billions)		84		78		78		77		70	(9%)	(17%)	$	91	$	75	(18%)
Efficiency ratio		92%		95%		88%		90%		85%	(500) bps	(700) bps		92%		88%	(400) bps
Allocated TCE (in billions)⁽¹⁰⁾	$	10.0	$	10.0	$	6.2	$	6.2	$	6.2	-	(38%)	$	10.0	$	6.2	(38%)

Revenue by reporting unit and component
Mexico Consumer/SBMM	$	1,527	$	1,460	$	1,571	$	1,640	$	1,526	(7%)	-	$	4,233	$	4,737	12%
Asia Consumer		289		257		254		220		193	(12%)	(33%)		1,267		667	(47%)
Legacy Holdings Assets (LHA)		25		11		4		(133)		20	NM	(20%)		99		(109)	NM
Total	$	1,841	$	1,728	$	1,829	$	1,727	$	1,739	1%	(6%)	$	5,599	$	5,295	(5%)

Mexico Consumer/SBMM—key indicators (in billions of dollars)
EOP loans	$	24.0	$	25.2	$	26.0	$	24.5	$	23.5	(4%)	(2%)
EOP deposits		38.3		40.2		41.0		37.6		34.6	(8%)	(10%)
Average loans		24.0		23.9		25.0		25.3		23.9	(6%)	-
NCLs as a % of average loans (Mexico Consumer only)		4.12%		4.35%		4.67%		4.30%		4.36%	1%	6%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		1.32%		1.35%		1.32%		1.32%		1.37%	4%	4%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		1.33%		1.35%		1.33%		1.33%		1.47%	11%	11%

Asia Consumer—key indicators (in billions of dollars)
EOP loans	$	8.0	$	7.4	$	6.5	$	5.6	$	5.5	(2%)	(31%)
EOP deposits		10.8		9.5		9.0		8.3		8.4	1%	(22%)
Average loans		8.6		7.8		6.9		6.1		5.6	(8%)	(35%)

Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans	$	2.8	$	2.8	$	2.7	$	2.4	$	2.5	4%	(11%)

(1)	Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information.

(2)	Certain of the results of operations of All Other—managed basis are non-GAAP financial measures. See page 14 for additional information.

(3)

Legacy Franchises consists of the consumer franchises in 13 markets across Asia, Poland and Russia that Citi intends to exit or has exited (collectively Asia Consumer); Mexico consumer banking (Mexico Consumer) and Small Business and Middle-Market Banking (Mexico SBMM), collectively Mexico Consumer/SBMM; and Legacy Holdings Assets (primarily North America consumer mortgage loans, Citigroup's U.K. consumer banking business and other legacy assets).

(4)	See footnote 2 on page 14.

(5)	See footnote 3 on page 14.

(6)	See footnote 4 on page 14.

(7)	See footnote 5 on page 14.

(8)	See footnote 6 on page 14.

(9)	See footnote 7 on page 14.

(10)	TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 12

ALL OTHER

Corporate/Other⁽¹⁾

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)

Net interest income	$	526	$	385	$	417	$	357	$	216	(39%)	(59%)	$	2,286	$	990	(57%)
Non-interest revenue		(129)		(76)		140		(104)		(130)	(25%)	(1%)		(480)		(94)	80%
Total revenues, net of interest expense		397		309		557		253		86	(66%)	(78%)		1,806		896	(50%)
Total operating expenses		500		2,841		1,080		556		602	8%	20%		1,637		2,238	37%
Provisions for other assets and HTM debt securities		(1)		(11)		(2)		5		(2)	NM	(100%)		-		1	100%
Income (loss) from continuing operations before taxes		(102)		(2,521)		(521)		(308)		(514)	(67%)	NM		169		(1,343)	NM
Income taxes (benefits)		(81)		(488)		(35)		46		(51)	NM	37%		(172)		(40)	77%
Income (loss) from continuing operations		(21)		(2,033)		(486)		(354)		(463)	(31%)	NM		341		(1,303)	NM
Income (loss) from discontinued operations, net of taxes		2		(1)		(1)		-		(1)	(100%)	NM		-		(2)	NM
Noncontrolling interests		7		(3)		(9)		(10)		(12)	(20%)	NM		11		(31)	NM
Net income (loss)	$	(26)	$	(2,031)	$	(478)	$	(344)	$	(452)	(31%)	NM	$	330	$	(1,274)	NM
EOP assets (in billions)	$	119	$	121	$	121	$	125	$	126	1%	6%
Average allocated TCE (in billions)⁽²⁾		22.5		22.4		19.4		20.8		23.0	11%	2%	$	20.4	$	21.1	3%

(1)

Includes certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

(2)	TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 13

ALL OTHER

RECONCILING ITEMS⁽¹⁾

Divestiture-Related Impacts

(In millions of dollars, except as otherwise noted)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)

Net interest income	$	-	$	-	$	-	$	-	$	-	-	-	$	-	$	-	-
Non-interest revenue⁽²⁾⁽⁷⁾		396		(62)		(12)		33		1	(97%)	(100%)		1,408		22	(98%)
Total revenues, net of interest expense		396		(62)		(12)		33		1	(97%)	(100%)		1,408		22	(98%)
Total operating expenses^{(2)(3)(4)(5)(6)(7)}		114		106		110		85		67	(21%)	(41%)		266		262	(2%)
Net credit losses on loans		(19)		33		11		(3)		(1)	67%	95%		(39)		7	NM
Credit reserve build (release) for loans		2		(63)		-		-		-	-	(100%)		2		-	(100%)
Provision (release) for credit losses on unfunded lending commitments		-		-		-		-		-	-	-		-		-	-
Provisions for benefits and claims, other assets and HTM debt securities		-		-		-		-		-	-	-		-		-	-
Provisions for credit losses and for benefits and claims (PBC)		(17)		(30)		11		(3)		(1)	67%	94%		(37)		7	NM
Income (loss) from continuing operations before taxes		299		(138)		(133)		(49)		(65)	(33%)	NM		1,179		(247)	NM
Income taxes (benefits)		85		(27)		(39)		(17)		(20)	(18%)	NM		409		(76)	NM
Income (loss) from continuing operations		214		(111)		(94)		(32)		(45)	(41%)	NM		770		(171)	NM
Income (loss) from discontinued operations, net of taxes		-		-		-		-		-	-	-		-		-	-
Noncontrolling interests		-		-		-		-		-	-	-		-		-	-
Net income (loss)	$	214	$	(111)	$	(94)	$	(32)	$	(45)	(41%)	NM	$	770	$	(171)	NM

(1)	Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other—Legacy Franchises on a managed basis. The Reconciling Items are fully reflected in Citi's Consolidated Statement of Income on page 2 for each respective line item.

(2)

3Q23 includes an approximate $403 million gain on sale recorded in revenue (approximately $284 million after various taxes) related to Citi's sale of the Taiwan consumer banking business. In addition, 3Q23 includes approximately $114 million in operating expenses (approximately $78 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023.

(3)	4Q23 includes approximately $106 million in operating expenses (approximately $75 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Annual Report on Form 10-K for the year ended December 31, 2023.

(4)

1Q24 includes approximately $110 million in operating expenses (approximately $77 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024.

(5)

2Q24 includes approximately $85 million in operating expenses (approximately $58 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024.

(6)	3Q24 includes approximately $67 million in operating expenses (approximately $46 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets.

(7)

For the nine months of 2023, revenues included an approximate $1.059 billion gain on sale (approximately $727 million after taxes) related to Citi’s sale of the India consumer banking business, as well as the approximate $403 million gain on sale (approximately $284 million after-tax) related to Citi’s sale of the Taiwan consumer banking business noted above in footnote (2). In addition, for the nine months of 2023, expenses included approximately $266 million (approximately $188 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 14

AVERAGE BALANCES AND INTEREST RATES^{(1)(2)(3)(4)(5)}

Taxable Equivalent Basis

	Average Volumes						Interest						% Average Rate⁽⁴⁾


(In millions of dollars), except as otherwise noted	3Q23		2Q24		3Q24⁽⁵⁾		3Q23		2Q24		3Q24⁽⁵⁾		3Q23	2Q24	3Q24⁽⁵⁾
Assets
Deposits with banks	$	260,159	$	250,665	$	266,300	$	2,645	$	2,710	$	3,050	4.03%	4.35%	4.56%
Securities borrowed and purchased under resale agreements⁽⁶⁾		352,608		356,969		335,601		7,363		7,211		7,293	8.28%	8.12%	8.65%
Trading account assets⁽⁷⁾		345,864		388,641		416,636		3,893		4,503		4,451	4.47%	4.66%	4.25%
Investments		508,854		510,542		500,007		4,727		4,827		4,690	3.69%	3.80%	3.73%
Consumer loans		375,632		383,211		386,155		9,609		9,780		10,051	10.15%	10.26%	10.35%
Corporate loans		286,654		296,410		300,357		5,447		5,718		5,771	7.54%	7.76%	7.64%
Total loans (net of unearned income)⁽⁸⁾		662,286		679,621		686,512		15,056		15,498		15,822	9.02%	9.17%	9.17%
Other interest-earning assets		76,400		70,486		77,060		1,176		1,260		1,174	6.11%	7.19%	6.06%
Total average interest-earning assets	$	2,206,171	$	2,256,924	$	2,282,116	$	34,860	$	36,009	$	36,480	6.27%	6.42%	6.36%

Liabilities
Deposits	$	1,121,163	$	1,108,733	$	1,109,067	$	9,630	$	10,235	$	10,319	3.41%	3.71%	3.70%
Securities loaned and sold under repurchase agreements⁽⁶⁾		275,123		336,367		338,459		6,090		6,962		7,328	8.78%	8.32%	8.61%
Trading account liabilities⁽⁷⁾		111,367		103,548		96,448		892		794		792	3.18%	3.08%	3.27%
Short-term borrowings and other interest-bearing liabilities		117,435		107,277		122,255		1,956		1,908		2,009	6.61%	7.15%	6.54%
Long-term debt⁽⁹⁾		158,485		169,529		175,690		2,441		2,595		2,646	6.11%	6.16%	5.99%
Total average interest-bearing liabilities	$	1,783,573	$	1,825,454	$	1,841,919	$	21,009	$	22,494	$	23,094	4.67%	4.96%	4.99%


Net interest income as a % of average interest-earning assets (NIM)⁽⁹⁾							$	13,851	$	13,515	$	13,386	2.49%	2.41%	2.33%

3Q24 increase (decrease) from:													(16) bps	(8) bps

(1)	Interest income and Net interest income include the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $23 million for 3Q23, $22 million for 2Q24 and $24 million for 3Q24.

(2)	Citigroup average balances and interest rates include both domestic and international operations.

(3)	Monthly averages have been used by certain subsidiaries where daily averages are unavailable.

(4)	Average rate percentage is calculated as annualized interest over average volumes.

(5)	3Q24 is preliminary.

(6)	Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of ASU 2013-01 (Topic 210).

(7)	Interest expense on Trading account liabilities of Services, Markets, and Banking is reported as a reduction of Interest income. Interest income and Interest expense on cash collateral positions are reported in Trading account assets and Trading account liabilities, respectively.

(8)	Nonperforming loans are included in the average loan balances.

(9)	Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions revenue.

Reclassified to conform to the current period's presentation.

Page 15

EOP LOANS⁽¹⁾⁽²⁾

(In billions of dollars)

											3Q24 Increase/
	3Q		4Q		1Q		2Q		3Q		(Decrease) from
	2023		2023		2024		2024		2024		2Q24	3Q23


Corporate loans by region
North America	$	123.0	$	128.9	$	122.9	$	129.6	$	127.5	(2%)	4%
International		165.6		171.3		169.9		172.0		172.3	-	4%
Total corporate loans	$	288.6	$	300.2	$	292.8	$	301.6	$	299.8	(1%)	4%

Corporate loans by segment and reporting unit
Services	$	83.5	$	84.7	$	80.5	$	88.9	$	88.7	-	6%
Markets		111.9		122.0		118.3		119.5		120.0	-	7%
Banking		86.8		86.8		87.3		86.7		84.7	(2%)	(2%)
All Other - Legacy Franchises - Mexico SBMM & AFG⁽³⁾		6.4		6.7		6.7		6.5		6.4	(2%)	-
Total corporate loans	$	288.6	$	300.2	$	292.8	$	301.6	$	299.8	(1%)	4%

USPB
Branded Cards	$	105.2	$	111.1	$	108.0	$	111.8	$	112.1	-	7%
Retail Services		50.5		53.6		50.8		51.7		51.6	-	2%
Retail Banking		43.1		44.4		45.6		46.2		49.4	7%	15%
Total	$	198.8	$	209.1	$	204.4	$	209.7	$	213.1	2%	7%

Wealth by region
North America	$	101.1	$	101.6	$	100.0	$	100.9	$	99.8	(1%)	(1%)
International		49.4		49.8		48.9		49.5		51.2	3%	4%
Total	$	150.5	$	151.4	$	148.9	$	150.4	$	151.0	-	-

All Other—Consumer
Mexico Consumer	$	17.8	$	18.7	$	19.6	$	18.2	$	17.4	(4%)	(2%)
Asia Consumer⁽⁴⁾		8.0		7.4		6.5		5.6		5.5	(2%)	(31%)
Legacy Holdings Assets (LHA)		2.6		2.6		2.4		2.2		2.2	-	(15%)
Total	$	28.4	$	28.7	$	28.5	$	26.0	$	25.1	(3%)	(12%)

Total consumer loans	$	377.7	$	389.2	$	381.8	$	386.1	$	389.2	1%	3%

Total loans—EOP	$	666.3	$	689.4	$	674.6	$	687.7	$	688.9	-	3%

Total loans—average	$	662.3	$	674.7	$	678.8	$	679.6	$	686.5	1%	4%

NCLs as a % of total average loans		0.98%		1.17%		1.36%		1.35%		1.26%	(9) bps	28 bps

(1)	Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Mexico SBMM, and the AFG.

(2)	Consumer loans include loans managed by USPB, Wealth, and All Other—Legacy Franchises (other than Mexico small business and middle-market banking (Mexico SBMM), and the Assets Finance Group (AFG)).

(3)	Includes Legacy Franchises corporate loans activity related to Mexico SBMM and AFG (AFG was previously reported in Markets; all periods have been reclassified to reflect this move into Legacy Franchises), as well as other LHA corporate loans.

(4)	Asia Consumer also includes loans in Poland and Russia.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 16

EOP DEPOSITS

(In billions of dollars)

											3Q24 Increase/
	3Q		4Q		1Q		2Q		3Q		(Decrease) from
	2023		2023		2024		2024		2024		2Q24	3Q23

Services, Markets, and Banking by region
North America	$	371.6	$	371.1	$	375.7	$	376.1	$	394.7	5%	6%
International		412.3		431.8		436.0		431.0		444.9	3%	8%
Total	$	783.9	$	802.9	$	811.7	$	807.1	$	839.6	4%	7%

Treasury and Trade Solutions	$	644.8	$	661.5	$	662.1	$	655.1	$	683.7	4%	6%
Securities Services		113.7		119.9		125.3		127.8		142.0	11%	25%
Services	$	758.5	$	781.4	$	787.4	$	782.9	$	825.7	5%	9%
Markets⁽¹⁾		24.5		20.8		23.6		23.7		13.4	(43%)	(45%)
Banking		0.9		0.7		0.7		0.5		0.5	-	(44%)
Total	$	783.9	$	802.9	$	811.7	$	807.1	$	839.6	4%	7%

USPB	$	108.9	$	103.2	$	99.6	$	86.1	$	85.1	(1%)	(22%)

Wealth
North America	$	183.7	$	196.2	$	196.0	$	194.2	$	191.7	(1%)	4%
International		118.6		122.4		124.3		123.8		124.6	1%	5%
Total	$	302.3	$	318.6	$	320.3	$	318.0	$	316.3	(1%)	5%

All Other
Legacy Franchises
Mexico Consumer	$	29.6	$	31.9	$	31.8	$	28.6	$	26.1	(9%)	(12%)
Mexico SBMM—corporate		8.7		8.3		9.2		9.0		8.5	(6%)	(2%)
Asia Consumer⁽²⁾		10.8		9.5		9.0		8.3		8.4	1%	(22%)
Legacy Holdings Assets (LHA)⁽³⁾		5.1		4.1		2.9		1.9		0.4	(79%)	(92%)
Corporate/Other⁽¹⁾		24.2		30.2		22.7		19.1		25.6	34%	6%
Total	$	78.4	$	84.0	$	75.6	$	66.9	$	69.0	3%	(12%)

Total deposits—EOP	$	1,273.5	$	1,308.7	$	1,307.2	$	1,278.1	$	1,310.0	2%	3%

Total deposits—average	$	1,315.1	$	1,319.7	$	1,326.4	$	1,309.9	$	1,311.1	-	-

(1)	During the third quarter of 2024, approximately $9 billion of institutional deposits were moved from Markets to Corporate/Other, as they are managed by Citi Treasury. Prior periods were not impacted.

(2)	Asia Consumer also includes deposits in Poland and Russia.

(3)	LHA includes deposits from the U.K. consumer banking business.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 17

ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD

(In millions of dollars, except ratios)

																		Builds											ACLL/EOP
	Balance		Builds (Releases)										FY 2023		Balance			(Releases)							YTD 2024		Balance		Loans
	12/31/22		1Q23		2Q23		3Q23		4Q23		FY 2023		FX/Other⁽¹⁾		12/31/23		1Q24		2Q24		3Q24		YTD 2024		FX/Other		9/30/24		9/30/24

Allowance for credit losses on loans (ACLL)
Services	$	356	$	(72)	$	(14)	$	6	$	127	$	47	$	(6)	$	397	$	34	$	(100)	$	7	$	(59)	$	-	$	338
Markets		630		64		(21)		119		40		202		(12)		820		120		(111)		37		46		(6)		860
Banking		1,746		(50)		(110)		(22)		(163)		(345)		(25)		1,376		(89)		(51)		62		(78)		4		1,302
Legacy Franchises corporate (Mexico SBMM & AFG⁽²⁾)		123		(27)		(7)		(1)		2		(33)		31		121		(8)		(12)		(3)		(23)		(7)		91

Total corporate ACLL	$	2,855	$	(85)	$	(152)	$	102	$	6	$	(129)	$	(12)	$	2,714	$	57	$	(274)	$	103	$	(114)	$	(9)	$	2,591	0.89%
U.S. Cards⁽³⁾	$	11,393	$	536	$	276	$	128	$	466	$	1,406	$	(173)	$	12,626	$	326	$	357	$	10	$	693	$	23	$	13,342	8.15%
Retail Banking		447		40		27		(14)		5		58		(29)		476		11		25		31		67		(1)		542
Total USPB	$	11,840	$	576	$	303	$	114	$	471	$	1,464	$	(202)	$	13,102	$	337	$	382	$	41	$	760	$	22	$	13,884
Wealth		883		(69)		30		(19)		(27)		(85)		(31)		767		(190)		(43)		8		(225)		(1)		541
All Other—consumer		1,396		13		76		(18)		28		99		67		1,562		(85)		11		58		(16)		(206)		1,340
Total consumer ACLL	$	14,119	$	520	$	409	$	77	$	472	$	1,478	$	(166)	$	15,431	$	62	$	350	$	107	$	519	$	(185)	$	15,765	4.05%

Total ACLL	$	16,974	$	435	$	257	$	179	$	478	$	1,349	$	(178)	$	18,145	$	119	$	76	$	210	$	405	$	(194)	$	18,356	2.70%
Allowance for credit losses on unfunded lending commitments (ACLUC)	$	2,151	$	(194)	$	(96)	$	(54)	$	(81)	$	(425)	$	2	$	1,728	$	(98)	$	(8)	$	105	$	(1)	$	(2)	$	1,725
Total ACLL and ACLUC (EOP)		19,125														19,873												20,081
Other⁽⁴⁾		243		408		145		53		1,132		1,738		(98)		1,883		14		107		160		281		(154)		2,010
Total allowance for credit losses (ACL)	$	19,368	$	649	$	306	$	178	$	1,529	$	2,662	$	(274)	$	21,756	$	35	$	175	$	475	$	685	$	(350)	$	22,091

(1)	Includes the January 1, 2023 opening adjustment related to the adoption of ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): TDRs and Vintage Disclosures. See page 19.

(2)	See footnote 3 on page 16.

(3)	The September 30, 2024 ACLL balance includes approximately $23 million related to an acquired portfolio, which is also reflected in the FX/Other column in this table.

(4)	Includes ACL activity on HTM securities and Other assets.

Reclassified to conform to the current period's presentation.

Page 18

ALLOWANCE FOR CREDIT LOSSES ON LOANS (ACLL) AND UNFUNDED LENDING COMMITMENTS (ACLUC)

Page 1

(In millions of dollars)

											3Q24 Increase/		Nine		Nine		YTD 2024 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2023 Increase/
	2023		2023		2024		2024		2024		2Q24	3Q23	2023		2024		(Decrease)

Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	$	17,496	$	17,629	$	18,145	$	18,296	$	18,216	-	4%	$	16,974	$	18,145
Adjustment to opening balance
Financial instruments—TDRs and Vintage Disclosures⁽¹⁾		-		-		-		-		-	-	-		(352)		-
Adjusted ACLL at beginning of period		17,496		17,629		18,145		18,296		18,216	-	4%		16,622		18,145	9%
Gross credit (losses) on loans		(2,000)		(2,368)		(2,690)		(2,715)		(2,609)	4%	(30%)		(5,513)		(8,014)	(45%)
Gross recoveries on loans		363		374		387		432		437	1%	20%		1,070		1,256	17%
Net credit (losses) / recoveries on loans (NCLs)		(1,637)		(1,994)		(2,303)		(2,283)		(2,172)	(5%)	33%		(4,443)		(6,758)	(52%)
Replenishment of NCLs		1,637		1,994		2,303		2,283		2,172	(5%)	33%		4,443		6,758	52%
Net reserve builds / (releases) for loans		179		478		119		76		210	NM	17%		871		405	(54%)
Provision for credit losses on loans (PCLL)		1,816		2,472		2,422		2,359		2,382	1%	31%		5,314		7,163	35%
Other, net^{(2)(3)(4)(5)(6)(7)}		(46)		38		32		(156)		(70)	55%	(52%)		136		(194)
ACLL at end of period (a)	$	17,629	$	18,145	$	18,296	$	18,216	$	18,356	1%	4%	$	17,629	$	18,356
Allowance for credit losses on unfunded lending
commitments (ACLUC)⁽⁸⁾ (a)	$	1,806	$	1,728	$	1,629	$	1,619	$	1,725	7%	(4%)	$	1,806	$	1,725

Provision (release) for credit losses on unfunded lending commitments	$	(54)	$	(81)	$	(98)	$	(8)	$	105	NM	NM	$	(344)	$	(1)

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	$	19,435	$	19,873	$	19,925	$	19,835	$	20,081	1%	3%	$	19,435	$	20,081

Total ACLL as a percentage of total loans⁽⁹⁾		2.68%		2.66%		2.75%		2.68%		2.70%	2 bps	2 bps

Consumer
ACLL at beginning of period	$	14,866	$	14,912	$	15,431	$	15,524	$	15,732	1%	6%	$	14,119	$	15,431
Adjustments to opening balance
Financial instruments—TDRs and Vintage Disclosures⁽¹⁾		-		-		-		-		-				(352)		-
Adjusted ACLL at beginning of period		14,866		14,912		15,431		15,524		15,732	1%	6%		13,767		15,431	12%

NCLs		(1,579)		(1,899)		(2,139)		(2,175)		(2,098)	(4%)	33%		(4,288)		(6,412)	50%
Replenishment of NCLs		1,579		1,899		2,139		2,175		2,098	(4%)	33%		4,288		6,412	50%
Net reserve builds / (releases) for loans		77		472		62		350		107	(69%)	39%		1,006		519	(48%)
Provision for credit losses on loans (PCLL)		1,656		2,371		2,201		2,525		2,205	(13%)	33%		5,294		6,931	31%
Other, net^{(2)(3)(4)(5)(6)(7)}		(31)		47		31		(142)		(74)	48%	NM		139		(185)	NM
ACLL at end of period (b)	$	14,912	$	15,431	$	15,524	$	15,732	$	15,765	-	6%	$	14,912	$	15,765

Consumer ACLUC⁽⁸⁾ (b)	$	65	$	62	$	46	$	42	$	39	(7%)	(40%)	$	65	$	39

Provision (release) for credit losses on unfunded lending commitments	$	(20)	$	(5)	$	(15)	$	(4)	$	(4)	-	80%	$	(41)	$	(23)

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	$	14,977	$	15,493	$	15,570	$	15,774	$	15,804	-	6%	$	14,977	$	15,804

Consumer ACLL as a percentage of total consumer loans		3.95%		3.97%		4.07%		4.08%		4.05%	(3) bps	10 bps

Corporate
ACLL at beginning of period	$	2,630	$	2,717	$	2,714	$	2,772	$	2,484	(10%)	(6%)	$	2,855	$	2,714

NCLs		(58)		(95)		(164)		(108)		(74)	(31%)	28%		(155)		(346)	NM
Replenishment of NCLs		58		95		164		108		74	(31%)	28%		155		346	NM
Net reserve builds / (releases) for loans		102		6		57		(274)		103	NM	1%		(135)		(114)	16%
Provision for credit losses on loans (PCLL)		160		101		221		(166)		177	NM	11%		20		232	NM
Other, net⁽²⁾		(15)		(9)		1		(14)		4	NM	NM		(3)		(9)
ACLL at end of period (c)	$	2,717	$	2,714	$	2,772	$	2,484	$	2,591	4%	(5%)	$	2,717	$	2,591

Corporate ACLUC⁽⁸⁾ (c)	$	1,741	$	1,666	$	1,583	$	1,577	$	1,686	7%	(3%)	$	1,741	$	1,686

Provision (release) for credit losses on unfunded lending commitments	$	(34)	$	(76)	$	(83)	$	(4)	$	109	NM	NM	$	(303)	$	22

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	$	4,458	$	4,380	$	4,355	$	4,061	$	4,277	5%	(4%)	$	4,458	$	4,277

Corporate ACLL as a percentage of total corporate loans⁽⁹⁾		0.97%		0.93%		0.98%		0.85%		0.89%	4 bps	(8) bps

Footnotes to this table are on the following page (page 20).

Page 19

ALLOWANCE FOR CREDIT LOSSES ON LOANS (ACLL) AND UNFUNDED LENDING COMMITMENTS (ACLUC)

Page 2

The following footnotes relate to the table on the preceding page (page 19):

(1)	Includes the January 1, 2023 opening adjustment related to the adoption of ASU No. 2022-02,Financial Instruments—Credit Losses (Topic 326): TDRs and Vintage Disclosures. See page 19.

(2)	Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency translation (FX translation), purchase accounting adjustments, etc.

(3)	3Q23 primarily relates to FX translation.

(4)	4Q23 primarily relates to FX translation.

(5)	1Q24 primarily relates to FX translation.

(6)	2Q24 primarily relates to FX translation.

(7)	3Q24 primarily relates to FX translation.

(8)	Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

(9)	Excludes loans that are carried at fair value of $7.4 billion $7.6 billion, $8.9 billion, $8.5 billion, and $8.1 billion at September 30, 2023, December 31, 2023, March 31, 2024, June 30, 2024, and September 30, 2024, respectively.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 20

NON-ACCRUAL ASSETS

(In millions of dollars)

											3Q24 Increase/
	3Q		4Q		1Q		2Q		3Q		(Decrease) from
	2023		2023		2024		2024		2024		2Q24	3Q23

Corporate non-accrual loans by region⁽¹⁾
North America	$	934	$	978	$	874	$	456	$	459	1%	(51%)
International		1,041		904		615		542		485	(11%)	(53%)
Total	$	1,975	$	1,882	$	1,489	$	998	$	944	(5%)	(52%)

Corporate non-accrual loans by segment and component⁽¹⁾
Banking	$	953	$	799	$	606	$	462	$	348	(25%)	(63%)
Services		94		103		27		30		96	NM	2%
Markets		735		791		686		362		390	8%	(47%)
Mexico SBMM & AFG		193		189		170		144		110	(24%)	(43%)
Total	$	1,975	$	1,882	$	1,489	$	998	$	944	(5%)	(52%)

Consumer non-accrual loans⁽¹⁾
USPB	$	280	$	291	$	290	$	285	$	292	2%	4%
Wealth		287		288		276		303		284	(6%)	(1%)
Mexico Consumer		463		479		465		425		415	(2%)	(10%)
Asia Consumer⁽²⁾		25		22		23		22		21	(5%)	(16%)
Legacy Holdings Assets—Consumer		247		235		227		217		210	(3%)	(15%)
Total	$	1,302	$	1,315	$	1,281	$	1,252	$	1,222	(2%)	(6%)

Total non-accrual loans (NAL)	$	3,277	$	3,197	$	2,770	$	2,250	$	2,166	(4%)	(34%)

Other real estate owned (OREO)⁽³⁾	$	37	$	36	$	26	$	27	$	25	(7%)	(32%)


NAL as a percentage of total loans		0.49%		0.46%		0.41%		0.33%		0.31%	(2) bps	(18) bps

ACLL as a percentage of NAL		538%		568%		661%		810%		847%

(1)

Corporate loans are placed on non-accrual status based on a review by Citigroup's risk officers. Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for consumer loans: consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at 90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at 180 days contractual delinquency. As such, the non-accrual loan disclosures do not include credit card loans. The balances above represent non-accrual loans within Consumer loans and Corporate loans on the Consolidated Balance Sheet.

(2)	Asia Consumer also includes Non-accrual assets in Poland and Russia.

(3)	Represents the carrying value of all property acquired by foreclosure or other legal proceedings when Citigroup has taken possession of the collateral. Also includes former premises and property for use that is no longer contemplated.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 21

COMMON EQUITY TIER 1 (CET1) CAPITAL AND SUPPLEMENTARY LEVERAGE RATIOS,

TANGIBLE COMMON EQUITY, COMMON EQUITY, BOOK VALUE

PER SHARE AND TANGIBLE BOOK VALUE PER SHARE (TBVPS)

(In millions of dollars or shares, except per share amounts and ratios)

	September 30,		December 31,		March 31,		June 30,		September 30,
CET1 Capital and Ratio and Components⁽¹⁾	2023		2023		2024		2024		2024⁽²⁾

Citigroup common stockholders’ equity⁽³⁾	$	190,134	$	187,937	$	189,059	$	190,283	$	192,796
Add: qualifying noncontrolling interests		193		153		159		153		168
Regulatory capital adjustments and deductions:
Add:
CECL transition provision⁽⁴⁾		1,514		1,514		757		757		757
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		(1,259)		(1,406)		(914)		(629)		(773)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		625		(410)		(1,031)		(760)		(906)
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)⁽⁵⁾		18,552		18,778		18,647		18,315		18,397
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,444		3,349		3,258		3,138		3,061
Defined benefit pension plan net assets and other		1,340		1,317		1,386		1,425		1,447
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards⁽⁶⁾		11,219		12,075		11,936		11,695		11,318
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs⁽⁶⁾⁽⁸⁾		1,786		2,306		3,551		3,652		3,071
CET1 Capital	$	156,134	$	153,595	$	153,142	$	154,357	$	158,106
Risk-Weighted Assets (RWA)⁽⁴⁾	$	1,148,550	$	1,148,608	$	1,138,546	$	1,135,750	$	1,153,100
CET1 Capital ratio (CET1/RWA)		13.59%		13.37%		13.45%		13.59%		13.7%

Supplementary Leverage Ratio and Components
CET1⁽⁴⁾	$	156,134	$	153,595	$	153,142	$	154,357	$	158,106
Additional Tier 1 Capital (AT1)⁽⁷⁾		20,744		18,909		18,923		19,426		17,682
Total Tier 1 Capital (T1C) (CET1 + AT1)	$	176,878	$	172,504	$	172,065	$	173,783	$	175,788
Total Leverage Exposure (TLE)⁽⁴⁾	$	2,927,392	$	2,964,954	$	2,948,323	$	2,949,534	$	3,005,668
Supplementary Leverage ratio (T1C/TLE)⁽⁴⁾		6.04%		5.82%		5.84%		5.89%		5.8%

Tangible Common Equity, Book Value and Tangible Book Value Per Share
Common stockholders’ equity	$	190,008	$	187,853	$	188,985	$	190,210	$	192,733
Less:
Goodwill		19,829		20,098		20,042		19,704		19,691
Intangible assets (other than MSRs)		3,811		3,730		3,636		3,517		3,438
Goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS		49		-		-		-		16
Tangible common equity (TCE)⁽⁹⁾	$	166,319	$	164,025	$	165,307	$	166,989	$	169,588
Common shares outstanding (CSO)		1,913.9		1,903.1		1,907.4		1,907.8		1,891.3
Book value per share (common equity/CSO)	$	99.28	$	98.71	$	99.08	$	99.70	$	101.91
Tangible book value per share (TCE/CSO)⁽⁹⁾	$	86.90	$	86.19	$	86.67	$	87.53	$	89.67

Average TCE (in billions of dollars)⁽⁹⁾
Services	$	23.0	$	23.0	$	24.9	$	24.9	$	24.9
Markets		53.1		53.1		54.0		54.0		54.0
Banking		21.4		21.4		21.8		21.8		21.8
USPB		21.9		21.9		25.2		25.2		25.2
Wealth		13.4		13.4		13.2		13.2		13.2
All Other		32.5		32.4		25.6		27.0		29.2
Total Citi average TCE	$	165.3	$	165.2	$	164.7	$	166.1	$	168.3
Plus:
Average goodwill	$	19.9	$	20.4	$	19.6	$	19.5	$	19.6
Average intangible assets (other than MSRs)		3.9		3.8		3.7		3.6		3.5
Average goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS		0.1		-		-		-		-
Total Citi average common stockholders’ equity (in billions of dollars)	$	189.2	$	189.4	$	188.0	$	189.2	$	191.4

(1)	See footnote 8 on page 1.

(2)	September 30, 2024 is preliminary.

(3)	Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.

(4)	See footnote 9 on page 1.

(5)	Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.

(6)

Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit, and general business credit tax carry-forwards and DTAs arising from timing differences (future deductions) that are deducted from CET1 Capital exceeding the 10% limitation.

(7)	Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

(8)

Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences, and significant common stock investments in unconsolidated financial institutions. For all periods presented, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.

(9)	TCE and TBVPS are non-GAAP financial measures.

Reclassified to conform to the current period's presentation.

Page 22


Delaware	1-9924	52-1568099
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

388 Greenwich Street, New York, NY (Address of principal executive offices)		10013 (Zip Code)

Exhibit Number

99.1		Citigroup Inc. press release dated October 15, 2024.

99.2		Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended September 30, 2024.

99.3		Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date.

104.1		See the cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

		CITIGROUP INC.

Dated: October 15, 2024
	By:	/s/ Robert Walsh
		Robert Walsh
		Interim Chief Accounting Officer
		(Principal Accounting Officer)


			Exhibit 99.3

Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class	Ticker Symbol(s)	Title for iXBRL	Name of each exchange on which registered

Common Stock, par value $.01 per share	C	Common Stock, par value $.01 per share	New York Stock Exchange

7.625% Trust Preferred Securities of Citigroup Capital III (and registrant’s guaranty with respect thereto)	C/36Y	7.625% TRUPs of Cap III (and registrant’s guaranty)	New York Stock Exchange
7.875% Fixed Rate / Floating Rate Trust Preferred Securities (TruPS^®) of Citigroup Capital XIII (and registrant’s guaranty with respect thereto)	C N	7.875% FXD / FRN TruPS of Cap XIII (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Step-Up Coupon Notes Due March 31, 2036 of CGMHI (and registrant’s guaranty with respect thereto)	C/36A	MTN, Series N, Callable Step-Up Coupon Notes Due Mar 2036 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Step-Up Coupon Notes Due February 26, 2036 of CGMHI (and registrant's guaranty with respect thereto)	C/36	MTN, Series N, Callable Step-Up Coupon Notes Due Feb 2036 of CGMHI (and registrant's guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes Due December 18, 2035 of CGMHI (and registrant's guaranty with respect thereto)	C/35	MTN, Series N, Callable Fixed Rate Notes Due Dec 2035 of CGMHI (and registrant's guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes Due April 26, 2028 of CGMHI (and registrant’s guaranty with respect thereto)	C/28	MTN, Series N, Callable Fixed Rate Notes Due Apr 2028 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 17, 2026 of CGMHI (and registrant’s guaranty with respect thereto)	C/26	MTN, Series N, Floating Rate Notes Due Sept 2026 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 15, 2028 of CGMHI (and registrant’s guaranty with respect thereto)	C/28A	MTN, Series N, Floating Rate Notes Due Sept 2028 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due October 6, 2028 of CGMHI (and registrant’s guaranty with respect thereto)	C/28B	MTN, Series N, Floating Rate Notes Due Oct 2028 of CGMHI (and registrant’s guaranty)	New York Stock Exchange