8-K - C - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 14, 2025

Citigroup Inc.

(Exact name of registrant as specified in its charter)


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

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

( 212 ) 559-1000

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 formatted in Inline XBRL: See Exhibit 99.3

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

CITIGROUP INC.

Current Report on Form 8-K

Item 2.02 Results of Operations and Financial Condition.

On October 14, 2025, Citigroup Inc. announced its results for the quarter ended September 30, 2025. A copy of the related press release, filed as Exhibit 99.1 to this Form 8-K, is incorporated herein by reference. The quotation under the heading “CEO Commentary” on page 1 of Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities under that Section. The information included in Exhibit 99.1, other than in the quotation, shall be deemed “filed” for purposes of the Act.

In addition, a copy of the Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended September 30, 2025 is being furnished as Exhibit 99.2 to this Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Act or otherwise subject to the liabilities of that section.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	****

99.1		Citigroup Inc. press release dated October 14, 2025.

99.2		Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended September 30, 2025.

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.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		CITIGROUP INC.

Dated: October 14, 2025
	By:	/s/ Nicole Giles
		Nicole Giles
		Controller and Chief Accounting Officer
		(Principal Accounting Officer)

Exhibit 99.1

<br><br><br><br>
For Immediate Release<br><br>Citigroup Inc. (NYSE: C)<br><br>OCTOBER 14, 2025	****	<br><br>
<br><br>THIRD QUARTER 2025 RESULTS AND KEY METRICS<br><br>		CEO COMMENTARY
			Citi CEO Jane Fraser said, “The relentless execution of our strategy is delivering stronger business performance quarter after quarter and improving our returns. The cumulative effect of what we have done over the past years – our transformation, our refreshed strategy, our simplification – have put Citi in a materially different place in terms of our ability to compete. Investments in new products, digital assets and AI are driving innovation and improved capabilities across the franchise.<br><br>“Revenues were up 9% and every business had record third quarter revenue, improved returns and positive operating leverage. Services posted its best quarter ever with revenues up 7%. Despite low volatility, Markets delivered its best third quarter ever with revenues up 15%. Banking revenues were up 34%, and we continue to improve our Investment Banking market share across key sectors. Our Wealth strategy continues to play out positively with record Net New Investment Assets of $18.6 billion for the quarter, and USPB saw a record quarter with revenues up 7%.<br><br>“We returned over $6 billion to common shareholders in the form of share repurchases and dividends, bringing us to $12 billion year-to-date and announced a significant step toward the divestiture of Banamex with an agreement to sell a 25% equity stake in that business, which underscores our commitment to deliver value to our shareholders,” Ms. Fraser concluded.
RETURNED ~$6.1 BILLION IN THE FORM OF COMMON SHARE REPURCHASES AND COMMON DIVIDENDS<br><br>PAYOUT RATIO OF 176%^(5)^<br><br>BOOK VALUE PER SHARE OF $108.41<br><br>TANGIBLE BOOK VALUE PER SHARE OF $95.72^(6)^<br><br><br><br>New York, October 14, 2025 – Citigroup Inc. today reported net income for the third quarter 2025 of $3.8 billion, or $1.86 per diluted share, on revenues of $22.1 billion. This compares to net income of $3.2 billion, or $1.51 per diluted share, on revenues of $20.2 billion for the third quarter 2024.<br><br>As previously disclosed^(1)^, third quarter results included a notable item consisting of a goodwill impairment of $726 million ($714 million after-tax), recorded in Other expenses, related to Citi’s agreement to sell a 25% equity stake in Grupo Financiero Banamex, S.A. de C.V.^(7)^.<br><br>Revenues increased 9% from the prior-year period, on a reported basis, driven by growth in each of Citi’s five interconnected businesses and Legacy Franchises in All Other, partially offset by a decline in Corporate/Other, also in All Other. Excluding divestiture-related impacts in both periods^(8)^, revenues were also up 9%.<br><br>Net income was $3.8 billion, compared to $3.2 billion in the prior-year period, driven by the higher revenues and a lower cost of credit, largely offset by higher expenses. Excluding the notable item, net income was $4.5 billion^(1)^.<br><br>Earnings per share of $1.86 increased from $1.51 per diluted share in the prior-year period, reflecting the higher net income and lower shares outstanding. Excluding the notable item, earnings per share was $2.24^(1)^.

Percentage comparisons throughout this press release are calculated for the third quarter 2025 versus the third quarter 2024, unless otherwise specified.

Third Quarter Financial Results


Citigroup( in millions, except per share amounts and as otherwise noted)	3Q’25		****	2Q’25		****	3Q’24		QoQ%	YoY%
Total revenues, net of interest expense		22,090			21,668			20,209	2%	9%

Total operating expenses		14,290			13,577			13,144	5%	9%

Net credit losses		2,214			2,234			2,172	(1)%	2%
Net ACL build / (release)(a)		145			224			315	(35)%	(54)%
Other provisions(b)		91			414			188	(78)%	(52)%
Total cost of credit		2,450			2,872			2,675	(15)%	(8)%

Income (loss) from continuing operations before taxes		5,350			5,219			4,390	3%	22%
Provision for income taxes		1,559			1,186			1,116	31%	40%
Income (loss) from continuing operations		3,791			4,033			3,274	(6)%	16%
Income (loss) from discontinued operations, net of taxes		(1)			-			(1)	NM	-
Net income attributable to non-controlling interest		38			14			35	171%	9%
Citigroup’s net income (loss)	$	3,752		$	4,019		$	3,238	(7)%	16%


EOP loans (B)		734			725			689	1%	7%
EOP assets (B)		2,642			2,623			2,431	1%	9%
EOP deposits (B)		1,384			1,358			1,310	2%	6%


Book value per share	$	108.41		$	106.94		$	101.91	1%	6%
Tangible book value per share(6)	$	95.72		$	94.16		$	89.67	2%	7%
Common Equity Tier 1 (CET1) Capital ratio(4)		13.2%			13.5%			13.7%
Supplementary Leverage ratio (SLR)(4)		5.5%			5.5%			5.8%
Return on average common equity (ROE)(2)		7.1%			7.7%			6.2%
Return on average tangible common equity (RoTCE)(3)		8.0%			8.7%			7.0%	(70) bps	100 bps
Efficiency Ratio (total operating expenses/total revenues, net)		64.7%			62.7%			65.0%	200 bps	(30) bps

All values are in US Dollars.

(a) Includes credit reserve build / (release) for loans and provision / (release) 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 $22.1 billion in the third quarter 2025 increased 9%, on a reported basis, driven by growth in each of Citi’s five interconnected businesses and Legacy Franchises, partially offset by a decline in Corporate/Other. Excluding the divestiture-related impacts in both periods^(8)^, revenues were also up 9%. Net interest income increased 12%, driven by Markets, U.S. Personal Banking (USPB), Services, Wealth, Legacy Franchises and Banking, partially offset by a decline in Corporate/Other. Non-interest revenue increased 4%, driven by Banking, Wealth and Legacy Franchises, largely offset by decreases in Corporate/Other, Markets, Services and USPB.

Citigroup operating expenses of $14.3 billion were up 9%^(9)^ on a reported basis, driven by the notable item, as well as higher compensation and benefits expenses and the impact of foreign exchange translation. The higher compensation and benefits expenses were driven by higher performance-related compensation, higher severance and higher investments in Citi’s transformation and technology, with productivity savings and stranded cost reductions partially offsetting continued investments in the businesses. Excluding the notable item^(1)^, expenses were up 3%.

Citigroup cost of credit was $2.5 billion, reflecting $2.2 billion of net credit losses and a net allowance for credit losses (ACL) build of $236 million driven by higher volume, changes in portfolio composition and transfer risk associated with client activity in Russia, partially offset by changes in the macroeconomic outlook. Net credit losses were up 2% from the prior-year period, driven by increases in All Other and Markets, largely offset by a decrease in USPB. Cost of credit in the prior-year period was $2.7 billion, reflecting $2.2 billion of net credit losses and a net ACL build of $503 million driven by changes in portfolio composition, higher volume and transfer risk associated with client activity in Russia.

Citigroup net income was $3.8 billion in the third quarter 2025, compared to net income of $3.2 billion in the prior-year period, driven by the higher revenues and the lower cost of credit, largely offset by the higher expenses. Citigroup’s effective tax rate was approximately 29% in the current quarter, driven by the limited tax benefit of the notable item, compared to 25% in the third quarter 2024.

Citigroup’s total allowance for credit losses was approximately $23.8 billion at quarter end, compared to $22.1 billion at the end of the prior-year period. Total ACL on loans was approximately $19.2 billion at quarter end, compared to $18.4 billion at the end of the prior-year period, with a reserve-to-funded loans ratio of 2.65%, down from 2.70% in the prior-year period. Total non-accrual loans increased 70% from the prior-year period to $3.7 billion. Corporate non-accrual loans increased 119% from the prior-year period to $2.1 billion, driven by idiosyncratic downgrades in Markets and Banking. Consumer non-accrual loans increased 32% from the prior-year period to $1.6 billion, primarily driven by Wealth, largely due to residential mortgage loans impacted by the California wildfires.

Citigroup’s end-of-period loans were $734 billion at quarter end, up 7% versus the prior-year period, driven by higher loans in Markets, Services and in Branded Cards and Retail Banking in USPB, partially offset by lower loans in Banking.

Citigroup’s end-of-period deposits were approximately $1.4 trillion at quarter end, up 6% versus the prior-year period, driven by increases in Services, Markets and USPB, partially offset by lower deposits in All Other.

Citigroup’s book value per share of $108.41 at quarter end increased 6% versus the prior-year period, and tangible book value per share of $95.72 at quarter end increased 7% versus the prior-year period. The increases reflected net income, common share repurchases and beneficial net movements in accumulated other comprehensive income (AOCI), partially offset by the payment of common and preferred dividends. At quarter end, Citigroup’s preliminary CET1 Capital ratio was 13.2% versus 13.5% at the end of the prior quarter, driven by common share repurchases, higher risk-weighted assets and the payment of common and preferred dividends partially offset by net income, lower deferred tax assets, lower goodwill and beneficial net movements in AOCI. Citigroup’s Supplementary Leverage ratio for the third quarter 2025 was 5.5% versus 5.5% in the prior quarter. During the quarter, Citigroup returned approximately $6.1 billion to common shareholders in the form of share repurchases and dividends.


Services( in millions, except as otherwise noted)	3Q’25		****	2Q’25		****	3Q’24		QoQ%	YoY%
Net interest income		3,121			2,949			2,731	6%	14%
Non - interest revenue		761			725			896	5%	(15)%
Treasury and Trade Solutions		3,882			3,674			3,627	6%	7%
Net interest income		702			681			704	3%	-
Non - interest revenue		779			707			684	10%	14%
Securities Services		1,481			1,388			1,388	7%	7%
Total Services revenues(a)		5,363			5,062			5,015	6%	7%

Total operating expenses		2,707			2,679			2,575	1%	5%

Net credit losses		11			20			14	(45)%	(21)%
Net ACL build / (release)(b)		(12)			47			14	NM	NM
Other provisions(c)		62			286			99	(78)%	(37)%
Total cost of credit		61			353			127	(83)%	(52)%

Net income	$	1,802		$	1,432		$	1,651	26%	9%


Services Key Statistics and Metrics (B)
Allocated Average TCE(d)		25			25			25	-	(1)%
RoTCE(d)		28.9%			23.3%			26.4%	560 bps	250 bps
Average loans		94			94			87	-	8%
Average deposits		893			857			825	4%	8%
Cross border transaction value		105			101			95	3%	10%
US dollar clearing volume (#MM)(e)		45			44			43	1%	5%
Commercial card spend volume		18			18			18	3%	1%
Assets under custody and/or administration (AUC/AUA) (T)(f)		30			28			26	5%	13%

All values are in US Dollars.

(a) Services revenues reflect the impact of a revenue sharing agreement with Banking – Corporate Lending, for Services products sold to Corporate Lending clients. This generally results in a reduction in Services reported revenue.

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

(d) TCE and RoTCE are non-GAAP financial measures. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

(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) 3Q25 is preliminary.

Services

Services revenues of $5.4 billion were up 7%, driven by growth in Treasury and Trade Solutions (TTS) and Securities Services. Net interest income increased 11%, primarily driven by an increase in average deposit balances and deposit spreads. Non-interest revenue declined 3%, driven by higher lending revenue share with Banking, largely offset by the benefit of continued growth in underlying fee drivers across the businesses, particularly assets under custody and administration, cross-border transaction value and U.S. dollar clearing volume.

Treasury and Trade Solutions revenues of $3.9 billion were up 7%, driven by a 14% increase in net interest income, partially offset by a 15% decrease in non-interest revenue. The increase in net interest income was primarily driven by the higher deposit balances and deposit spreads. The decrease in non-interest revenue was driven by the impact of the higher lending revenue share, partially offset by growth in fees and underlying fee drivers, including an increase in cross-border transaction value of 10% and an increase in U.S. dollar clearing volume of 5%.

Securities Services revenues of $1.5 billion were up 7%, driven by a 14% increase in non-interest revenue. The increase in non-interest revenue was driven by a mark-to-market gain and higher custody fees due to a 13% increase in assets under custody and administration, partially offset by the higher lending revenue share. Net interest income was unchanged, as lower deposit spreads were primarily offset by the higher deposit balances.

Services operating expenses of $2.7 billion increased 5%, primarily driven by higher compensation and benefits expenses, including severance, as well as higher volume and other revenue-related expenses.

Services cost of credit was $61 million, reflecting a net ACL build of $50 million related to transfer risk associated with client activity in Russia, and $11 million of net credit losses. Cost of credit was $127 million in the prior-year period, reflecting a net ACL build of $113 million, largely related to transfer risk associated with client activity in Russia, and $14 million of net credit losses.

Services net income of $1.8 billion increased 9%, driven by the higher revenues and the lower cost of credit, partially offset by the higher expenses.


Markets( in millions, except as otherwise noted)	3Q’25		****	2Q’25		****	3Q’24		QoQ%	YoY%
Rates and currencies		2,823			3,134			2,465	(10)%	15%
Spread products / other fixed income		1,200			1,134			1,113	6%	8%
Fixed Income markets		4,023			4,268			3,578	(6)%	12%
Equity markets		1,540			1,611			1,239	(4)%	24%
Total Markets revenues(a)		5,563			5,879			4,817	(5)%	15%

Total operating expenses		3,491			3,509			3,339	(1)%	5%

Net credit losses		68			8			24	NM	183%
Net ACL build / (release)(b)		(31)			45			84	NM	NM
Other provisions(c)		(5)			55			33	NM	NM
Total cost of credit		32			108			141	(70)%	(77)%

Net income	$	1,562		$	1,728		$	1,072	(10)%	46%


Markets Key Statistics and Metrics (B)
Allocated Average TCE(d)		50			50			54	-	(7)%
RoTCE(d)		12.3%			13.8%			7.9%	(150) bps	440 bps
Average trading account assets		556			549			462	1%	20%
Average Loans		147			136			119	8%	24%
Average VaR ( in MM)(e)		117			117			107	-	9%

All values are in US Dollars.

(a) Markets revenues reflect the impact of a revenue sharing agreement with Banking – Corporate Lending, for Markets products sold to Corporate Lending clients. This generally results in a reduction in Markets reported revenue.

(b) Includes credit reserve build / (release) for loans and provision / (release) 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 $5.6 billion increased 15%, driven by growth in both Fixed Income markets and Equity markets revenues.

Fixed Income markets revenues of $4.0 billion increased 12%, driven by growth in both rates and currencies and spread products and other fixed income. Rates and currencies revenues increased 15%, largely driven by higher revenues in rates due to elevated client activity. Spread products and other fixed income revenues were up 8%, largely driven by higher mortgage trading, higher financing activity and lower commodities activity.

Equity markets revenues of $1.5 billion increased 24%, driven by higher client activity in derivatives and increased volumes in cash equities, along with continued momentum in prime services, with record prime balances^(10)^ (up approximately 44%).

Markets operating expenses of $3.5 billion increased 5%, primarily driven by higher compensation and benefits, along with the impact of FX translation, partially offset by lower transactional and product servicing expenses, as higher transaction volumes were more than offset by efficiency actions.

Markets cost of credit was $32 million, reflecting net credit losses of $68 million, driven by charge-offs in spread products, and a net ACL release of $36 million for the related reserves. Cost of credit was $141 million in the prior-year period, reflecting net credit losses of $24 million and a net ACL build of $117 million, primarily driven by changes in portfolio composition.

Markets net income was $1.6 billion increased 46%, 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’25		****	2Q’25		****	3Q’24		QoQ%	YoY%
Investment Banking		1,146			981			934	17%	23%
Corporate Lending(a)		1,030			1,002			742	3%	39%
Total Banking revenues(a)(b)		2,176			1,983			1,676	10%	30%
Gain / (loss) on loan hedges(a)		(44)			(62)			(79)	29%	44%
Total Banking revenues including gain/(loss) on loan hedges(a)		2,132			1,921			1,597	11%	34%

Total operating expenses		1,139			1,137			1,116	-	2%
Net credit losses		9			16			36	(44)%	(75)%
Net ACL build / (release)(c)		136			139			121	(2)%	12%
Other provisions(d)		12			18			20	(33)%	(40)%
Total cost of credit		157			173			177	(9)%	(11)%

Net income	$	638		$	463		$	238	38%	168%


Banking Key Statistics and Metrics
Allocated Average TCE(e) (B)		21			21			22	-	(6)%
RoTCE(e)		12.3%			9.0%			4.3%	330 bps	800 bps
Average loans (B)		81			84			88	(4)%	(8)%

Advisory		427			408			394	5%	8%
Equity underwriting		174			218			129	(20)%	35%
Debt underwriting		568			432			476	31%	19%
Investment Banking fees		1,169			1,058			999	10%	17%

All values are in US Dollars.

(a) Excludes gain / (loss) on credit derivatives as well as the mark-to-market on loans at fair value. For additional information, see Footnote 11.

(b) Banking revenues reflect the impact of a revenue sharing agreement with Banking – Corporate Lending, for Investment Banking, Markets and Services products sold to Corporate Lending clients. This generally results in an increase in Banking reported revenue.

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

(e) TCE and RoTCE are non-GAAP financial measures. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

Banking

Banking revenues of $2.1 billion increased 34%, driven by growth in Corporate Lending, excluding mark-to-market gain/(loss) on loan hedges^(11)^, and Investment Banking and a lower mark-to-market loss on loan hedges.

Investment Banking revenues of $1.1 billion increased 23%, primarily driven by an increase in Investment Banking fees of 17%, reflecting growth in Debt Capital Markets (DCM), Equity Capital Markets (ECM) and Advisory. Advisory fees increased 8%, driven by momentum across several sectors, continued share gains with financial sponsors and more sell-side activity. ECM fees were up 35%, driven by growth across all products, notably in convertibles given the favorable environment. DCM fees were up 19%, driven by leveraged finance.

Corporate Lending revenues of $1.0 billion, excluding mark-to-market on loan hedges^(11)^, increased 39%, driven by the impact of higher lending revenue share.

Banking operating expenses of $1.1 billion increased 2%, driven by higher volume-related transactional and product servicing expenses, as well as higher compensation and benefits, including investments in the business.

Banking cost of credit was $157 million, reflecting a net ACL build of $148 million, driven by changes in portfolio composition, including exposure growth, and $9 million of net credit losses. Cost of credit in the prior-year period was $177 million, reflecting a net ACL build of $141 million, driven by changes in portfolio composition, and $36 million of net credit losses.

Banking net income of $638 million increased 168%, driven by the higher revenue and the lower cost of credit, partially offset by the higher expenses.


Wealth( in millions, except as otherwise noted)	3Q’25		****	2Q’25		****	3Q’24		QoQ%	YoY%
Private Bank		656			731			614	(10)%	7%
Wealth at Work		214			221			244	(3)%	(12)%
Citigold		1,294			1,214			1,137	7%	14%
Total revenues, net of interest expense		2,164			2,166			1,995	-	8%

Total operating expenses		1,654			1,558			1,594	6%	4%

Net credit losses		56			40			27	40%	107%
Net ACL build / (release)(a)		(26)			(66)			7	61%	NM
Other provisions(b)		-			-			(1)	-	100%
Total cost of credit		30			(26)			33	NM	(9)%

Net income	$	374		$	494		$	283	(24)%	32%


Wealth Key Statistics and Metrics (B)
Allocated Average TCE(c)		12			12			13	-	(7)%
RoTCE(c)		12.1%			16.1%			8.5%	(400) bps	360 bps
Loans		151			151			151	-	-
Deposits		318			310			316	3%	1%
Client investment assets(d)		660			635			580	4%	14%
EOP client balances		1,129			1,096			1,047	3%	8%
Net New Investment Assets (NNIA)(e)		18.6			2.0			13.8	NM	35%

All values are in US Dollars.

(a) Includes credit reserve build / (release) for loans and provision / (release) 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. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

(d) Includes assets under management, and trust and custody assets. 3Q25 Client investment assets are preliminary.

(e) 3Q25 Net new investment assets are preliminary. Represents investment asset inflows, including dividends, interest and distributions, less investment asset outflows.

Wealth

Wealth revenues of $2.2 billion increased 8%, driven by growth in Citigold and the Private Bank, partially offset by lower revenues in Wealth at Work. Net interest income of $1.3 billion increased 8%, driven by higher deposit spreads, partially offset by lower mortgage spreads. Non-interest revenue of $832 million increased 9%, driven by higher investment fee revenues, with client investment assets up 14%.

Private Bank revenues of $656 million increased 7%, driven by the higher deposit spreads and the higher investment fee revenues, partially offset by the lower mortgage spreads.

Wealth at Work revenues of $214 million decreased 12%, driven by the lower mortgage spreads, partially offset by the higher deposit spreads and the higher investment fee revenues.

Citigold revenues of $1.3 billion increased 14%, primarily driven by the higher deposit spreads and the higher investment fee revenues.

Wealth operating expenses of $1.7 billion increased 4% from the prior-year period, driven by higher investments in technology and higher volume-related transactional and product servicing expenses, partially offset by continued productivity savings.

Wealth cost of credit was $30 million, reflecting $56 million of net credit losses, including write-downs of mortgage loans impacted by the California wildfires to collateral value, and a net ACL release of $26 million driven by the related reserves. Cost of credit was $33 million in the prior-year period, reflecting $27 million of net credit losses and a net ACL build of $6 million.

Wealth net income was $374 million, compared to $283 million in the prior-year period, driven by the higher revenues, partially offset by the higher expenses. 7


USPB( in millions, except as otherwise noted)	3Q’25		****	2Q’25		****	3Q’24		QoQ%	YoY%
Branded Cards		2,970			2,822			2,741	5%	8%
Retail Services		1,686			1,649			1,704	2%	(1)%
Retail Banking		675			648			519	4%	30%
Total revenues, net of interest expense		5,331			5,119			4,964	4%	7%

Total operating expenses		2,365			2,381			2,376	(1)%	-

Net credit losses		1,776			1,889			1,864	(6)%	(5)%
Net ACL build / (release)(a)		64			(5)			41	NM	56%
Other provisions(b)		2			1			4	100%	(50)%
Total cost of credit		1,842			1,885			1,909	(2)%	(4)%

Net income	$	858		$	649		$	522	32%	64%


USPB Key Statistics and Metrics (B)
Allocated average TCE(c)		23			23			25	-	(7)%
RoTCE(c)		14.5%			11.1%			8.2%	340 bps	630 bps
Average loans		220			217			210	1%	5%
Average deposits		90			90			85	-	6%
US credit card average loans		167			165			162	1%	3%
US credit card spend volume		157			159			151	(1)%	4%
New credit cards account acquisitions (in thousands)		3,211			3,255			3,023	(1)%	6%

All values are in US Dollars.

(a) Includes credit reserve build / (release) for loans.

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

U.S. Personal Banking (USPB)

USPB revenues of $5.3 billion increased 7%, driven by growth in Branded Cards and Retail Banking, partially offset by a decline in Retail Services. Net interest income increased 8%, driven by higher loan spreads and higher interest-earning balances in Branded Cards, as well as higher deposit spreads and balances in Retail Banking. Non-interest revenue decreased 10%, driven by higher rewards costs, primarily offset by higher gross interchange and credit card fees in Branded Cards and higher deposit servicing fees in Retail Banking.

Branded Cards revenues of $3.0 billion increased 8%, driven by the higher loan spreads, the higher interest-earning balances, which were up 5%, and the higher gross interchange, partially offset by the higher rewards costs.

Retail Services revenues of $1.7 billion decreased 1%, largely driven by higher partner payment accruals.

Retail Banking revenues of $675 million increased 30%, largely driven by the impact of the higher deposit spreads and balances.

USPB operating expenses of $2.4 billion were unchanged from the prior-year period as lower advertising and marketing expenses and lower compensation and benefits expenses were offset by higher volume-related transactional and product servicing expenses.

USPB cost of credit was $1.8 billion, reflecting $1.8 billion of net credit losses and a net ACL build of $66 million, driven by changes in portfolio composition and higher volume, largely offset by changes in the macroeconomic outlook. Net credit losses were down 5% from the prior-year period, driven by improved credit performance in Retail Services. Cost of credit was $1.9 billion in the prior-year period, reflecting $1.9 billion of net credit losses and a net ACL build of $45 million.

USPB net income of $858 million increased 64%, driven by the higher revenues and the lower cost of credit.


All Other (Managed Basis)(a)(b)( in millions, except as otherwise noted)	3Q’25		****	2Q’25		****	3Q’24		QoQ%	YoY%
Legacy Franchises (managed basis)		1,871			1,691			1,734	11%	8%
Corporate / Other		(336)			7			86	NM	NM
Total revenues		1,535			1,698			1,820	(10)%	(16)%

Total operating expenses		2,168			2,276			2,077	(5)%	4%

Net credit losses		297			256			208	16%	43%
Net ACL build / (release)(c)		10			64			48	(84)%	(79)%
Other provisions(d)		24			54			33	(56)%	(27)%
Total cost of credit		331			374			289	(11)%	15%

Net (loss)	$	(705)		$	(567)		$	(483)	(24)%	(46)%


All Other Key Statistics and Metrics (B)
Allocated Average TCE(e)		41			41			29	-	40%

All values are in US Dollars.

(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/SBMM within Legacy Franchises. For additional information, please refer to Footnote 12.

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

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

(e) TCE is a non-GAAP financial measure. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

All Other (Managed Basis)^(12)^

All Other (managed basis) revenues of $1.5 billion decreased 16%, driven by lower revenue in Corporate/Other, partially offset by an increase in Legacy Franchises.

Legacy Franchises (managed basis)^(12)^ revenues of $1.9 billion increased 8%, driven by growth in Mexico, including the impact of Mexican peso appreciation, partially offset by lower revenues related to closed exits and wind-downs.

Corporate/Other revenues of $(336) million decreased from $86 million in the prior-year period, driven by lower net interest income due to a lower benefit from cash and securities reinvestment over the past few quarters to reduce Citi’s asset sensitivity in a declining rate environment and lower non-interest revenues.

All Other (managed basis) expenses of $2.2 billion increased 4%, driven by higher expenses in Corporate/Other, including higher severance, largely offset by a decline in Legacy Franchises driven by lower expenses related to closed exits and wind-downs and lower litigation expenses, partially offset by the impact of Mexican peso appreciation.

All Other (managed basis) cost of credit was $331 million, reflecting $297 million of net credit losses and a net ACL build of $34 million driven by higher consumer lending volume and changes in portfolio composition in Mexico, largely offset by changes in the macroeconomic outlook. Net credit losses were up 43% from the prior-year period, driven by higher consumer lending volume and portfolio seasoning in Mexico. Cost of credit in the prior-year period was $289 million, reflecting $208 million of net credit losses and a net ACL build of $81 million largely driven by changes in portfolio composition in Mexico.

All Other (managed basis) net loss was $(705) million, compared to $(483) million in the prior-year period, driven by the lower revenues, the higher expenses and the higher cost of credit.

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/CITI3Q25.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 2025 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: (i) macroeconomic, geopolitical and other challenges and uncertainties, including impacts related to trade and tariff policies; the U.S. government shutdown; slowing economic growth; elevated inflation and unemployment rates; changes in interest rates; and conflicts such as the Russia-Ukraine war and in the Middle East; (ii) the execution and efficacy of Citi’s priorities regarding its simplification, transformation and enhanced business performance, including those related to revenues, net interest income, expenses, capital-related expectations, as well as divestitures such as Grupo Financiero Banamex, S.A. de C.V.; (iii) deterioration in business and consumer confidence and spending; (iv) changes in regulatory capital requirements, interpretations or rules; and (v) 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 2024 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’25		2Q’25		3Q’24

Net Income	$	3,752	$	4,019	$	3,238
Less:
Preferred Dividends		274		287		277
Net Income (Loss) to Common Shareholders	$	3,478	$	3,732	$	2,961

Average Common Equity	$	195,471	$	195,622	$	191,444
Less:
Average Goodwill and Intangibles		23,169		23,482		23,155
Average Tangible Common Equity (TCE)	$	172,302	$	172,140	$	168,289

ROE		7.1%		7.7%		6.2%

RoTCE		8.0%		8.7%		7.0%

All values are in US Dollars.

Appendix B


Citigroup ( in millions)	3Q’25		****	3Q’24		% Δ YoY

Total Citigroup Revenues - As Reported	$	22,090		$	20,209	9%
Less:
Total Divestiture-related Impact on Revenues		2			1
Total Citigroup Revenues, Excluding Total Divestiture-related Impact	$	22,088		$	20,208	9%

Total Citigroup Operating Expenses - As Reported	$	14,290		$	13,144	9%
Less:
Goodwill Impairment Charge Impact on Operating Expenses		726			-
Total Citigroup Operating Expenses, Excluding Goodwill Impairment Charge	$	13,564		$	13,144	3%

All values are in US Dollars.

Appendix C ^(a)^


All Other( in millions)	3Q’25		****	2Q’25		****	3Q’24		% Δ QoQ	****	% Δ YoY

All Other Revenues, Managed Basis	$	1,535		$	1,698		$	1,820	(10)%		(16)%
Add:
All Other Divestiture-related Impact on Revenue(c)		2			(177)			1
All Other Revenues (U.S. GAAP)	$	1,537		$	1,521		$	1,821	1%		(16)%

All Other Operating Expenses, Managed Basis	$	2,168		$	2,276		$	2,077	(5)%		4%
Add:
All Other Divestiture-related Impact on Operating Expenses(b)(c)(d)		766			37			67
All Other Operating Expenses (U.S. GAAP)	$	2,934		$	2,313		$	2,144	27%		37%

All Other Cost of Credit, Managed Basis	$	331		$	374		$	289	(11)%		15%
Add:
All Other Divestiture-related Impact on Net credit losses		(3)			5			(1)
All Other Divestiture-related Impact on Net ACL build / (release)(e)		-			-			-
All Other Divestiture-related Impact on Other provisions(f)		-			-			-
All Other Citigroup Cost of Credit (U.S. GAAP)	$	328		$	379		$	288	(13)%		14%

All Other Net Income (Loss), Managed Basis	$	(705)		$	(567)		$	(483)	(24)%		(46)%
Add:
All Other Divestiture-related Impact on Revenue(c)		2			(177)			1
All Other Divestiture-related Impact on Operating Expenses(b)(c)(d)		(766)			(37)			(67)
All Other Divestiture-related Impact on Cost of Credit(e)(f)		3			(5)			1
All Other Divestiture-related Impact on Taxes(b)(c)(d)		(16)			39			20
All Other Net Income (Loss) (U.S. GAAP)	$	(1,482)		$	(747)		$	(528)	(98)%		(181)%

All values are in US Dollars.

(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) 3Q25 includes approximately $766 million in operating expenses (approximately $744 million after-tax), driven by a goodwill impairment charge in Mexico ($726 million ($714 million after-tax)) and separation costs in Mexico.

(c) 2Q25 includes (i) an approximately $186 million loss recorded in revenue (approximately $157 million after tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $37 million in operating expenses (approximately $26 million after tax) primarily related to separation costs in Mexico. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025.

(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. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024.

(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. 11

Appendix D


( in millions)	3Q’25^(a)^		****	2Q’25		****	3Q’24

Citigroup Common Stockholders’ Equity(b)	$	194,038		$	196,931		$	192,796
Add: Qualifying noncontrolling interests		200			200			168
Regulatory Capital Adjustments and Deductions:
Add: CECL transition provision(c)		-			-			757
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		(116)			(141)			(773)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		(1,443)			(408)			(906)
Intangible Assets:
Goodwill, net of related deferred tax liabilities (DTLs)(d)		17,876			18,524			18,397
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,169			3,236			3,061
Defined benefit pension plan net assets and other		1,725			1,610			1,447
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards(e)		10,807			11,163			11,318
Excess over 10% / 15% limitations for other DTAs, certain common stock investments, and MSRs(e)(f)		3,759			4,204			3,071

Common Equity Tier 1 Capital (CET1)	$	158,461		$	158,943		$	158,106

Risk-Weighted Assets (RWA)(c)	$	1,197,575		$	1,178,756		$	1,153,150

Common Equity Tier 1 Capital Ratio (CET1 / RWA)(c)		13.2%			13.5%			13.7%

All values are in US Dollars.

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.

(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 temporary 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’25^(a)^		****	2Q’25		****	3Q’24

Common Equity Tier 1 Capital (CET1)(b)	$	158,461		$	158,943		$	158,106

Additional Tier 1 Capital (AT1)(c)		20,311			17,676			17,682

Total Tier 1 Capital (T1C) (CET1 + AT1)	$	178,772		$	176,619		$	175,788

Total Leverage Exposure (TLE)(b)	$	3,238,996		$	3,195,323		$	3,005,709

Supplementary Leverage Ratio (T1C / TLE)(b)		5.5%			5.5%			5.8%

All values are in US Dollars.

(a) Preliminary.

(b) Please refer to Footnote 4 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’25^(a)^		****	2Q’25		****	3Q’24

Common Stockholders’ Equity	$	193,973		$	196,872		$	192,733
Less:
Goodwill		19,126			19,878			19,691
Intangible Assets (other than MSRs)		3,582			3,639			3,438
Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Businesses Held-for-Sale		-			16			16
Tangible Common Equity (TCE)	$	171,265		$	173,339		$	169,588

Common Shares Outstanding (CSO)		1,789.3			1,840.9			1,891.3

Tangible Book Value Per Share	$	95.72		$	94.16		$	89.67

All values are in US Dollars.

(a) Preliminary.

Appendix G


Banking ( in millions)	3Q’25		****	2Q’25		****	3Q’24		****	% Δ QoQ	% Δ YoY

Corporate Lending Revenues - As Reported	$	986		$	940		$	663		5%	49%
Less:
Gain/(loss) on loan hedges(a)		(44)			(62)			(79)		29%	44%
Corporate Lending Revenues - Excluding Gain/(loss) on loan hedges	$	1,030		$	1,002		$	742		3%	39%

All values are in US Dollars.

(a) See Footnote 11 at the end of this press release for additional information. 12

Appendix H


( in billions)	3Q’25		****	2Q’25		****	3Q’24

Average Tangible Common Equity (TCE)
Services		24.7			24.7			24.9
Markets		50.4			50.4			54.0
Banking		20.6			20.6			21.8
Wealth		12.3			12.3			13.2
USPB		23.4			23.4			25.2
All Other		40.9			40.7			29.2
Total Citigroup Average TCE	$	172.3		$	172.1		$	168.3
Plus:
Average Goodwill		19.6			19.8			19.6
Average Intangible Assets (other than MSRs)		3.6			3.7			3.5
Average Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Businesses Held-for-Sale		-			-			-
Total Citigroup Average Common Stockholders’ Equity	$	195.5		$	195.6		$	191.4

All values are in US Dollars.

Appendix I


( in billions)	Net Income Applicable to Common Shareholders^(a)^		****	Average Allocated Tangible Common Equity^(b)^		****	Return on Tangible Common Equity^(c)^

3Q'25
Services		1.8			24.7			28.9%
Markets		1.6			50.4			12.3%
Banking		0.6			20.6			12.3%
Wealth		0.4			12.3			12.1%
USPB		0.9			23.4			14.5%
All Other (managed basis)(a)		(1.0)			40.9			NM
Reconciling Items(d)		(0.8)			-			NM
Total Citigroup(a)	$	3.5		$	172.3			8.0%

2Q'25
Services		1.4			24.7			23.3%
Markets		1.7			50.4			13.8%
Banking		0.5			20.6			9.0%
Wealth		0.5			12.3			16.1%
USPB		0.6			23.4			11.1%
All Other (managed basis)(a)		(0.9)			40.7			NM
Reconciling Items(d)		(0.2)			-			NM
Total Citigroup(a)	$	3.7		$	172.1			8.7%

3Q'24
Services		1.7			24.9			26.4%
Markets		1.1			54.0			7.9%
Banking		0.2			21.8			4.3%
Wealth		0.3			13.2			8.5%
USPB		0.5			25.2			8.2%
All Other (managed basis)(a)		(0.8)			29.2			NM
Reconciling Items(d)		(0.0)			-			NM
Total Citigroup(a)	$	3.0		$	168.3			7.0%

All values are in US Dollars.

a) Net income to common for All Other (Managed Basis) is reduced by preferred dividends of $274 million in 3Q'25, $287 million in 2Q'25, and $277 million in 3Q'24.

b) Tangible Common Equity is allocated to each segment based on Citi’s allocation methodology which incorporates Basel III standardized risk-weighted assets, the global systemically important banks (GSIB) surcharge, a simulation of TCE in severe stress environments, as well as a leverage component. The allocation methodology, including underlying assumptions and judgments used to allocate TCE, are periodically reassessed and as a result the TCE allocated to the segments may change. TCE is a non-GAAP financial measure.

c) Return on Tangible Common Equity (RoTCE) is a non-GAAP financial measure. RoTCE represents annualized net income available to common shareholders as a percentage of average TCE.

d) 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. For a reconciliation of these results, see Appendix C.

Appendix J


Citigroup
( in millions)	3Q’25		****	3Q’24		****	% Δ YoY

Citigroup Net Income - As Reported	$	3,752		$	3,238			16%
Less:
Goodwill Impairment Charge Impact on Citigroup Net Income		(714)			-
Citigroup Net Income - Excluding Goodwill Impairment Charge	$	4,466		$	3,238			38%

Citigroup Diluted EPS - As Reported	$	1.86		$	1.51			23%
Less:
Goodwill Impairment Charge Impact on Citigroup Diluted EPS		(0.38)			-
Citigroup Diluted EPS - Excluding Goodwill Impairment Charge	$	2.24		$	1.51			48%

Citigroup ROE - As Reported		7.1%			6.2%			90 bps
Less:
Goodwill Impairment Charge Impact on Citigroup ROE		(140) bps			-
Citigroup ROE - Excluding Goodwill Impairment Charge		8.5%			6.2%			230 bps

Citigroup RoTCE - As Reported		8.0%			7.0%			100 bps
Less:
Goodwill Impairment Charge Impact on Citigroup RoTCE		(170) bps			-
Citigroup RoTCE - Excluding Goodwill Impairment Charge		9.7%			7.0%			270 bps

All values are in US Dollars.

^(1)^ For additional information on the notable item, see Citi’s Current Report on Form 8-K filed on September 24, 2025 with the U.S. Securities and Exchange Commission. Results of operations excluding the impact of the notable item is a non-GAAP financial measure. Citi believes the presentation of its results of operations and financial condition excluding the notable item provides a meaningful depiction of the underlying fundamentals of its broader results for investors, industry analysts and others. For a reconciliation to reported results, please refer to Appendix B and C. For a reconciliation to reported net income, EPS, ROE and RoTCE, refer to appendix J.

^(2)^ Ratios as of September 30, 2025 are preliminary. Citigroup’s return on average common stockholders’ equity (ROE) is calculated using net income less preferred stock dividends divided by average common stockholders’ equity.

^(3)^ Ratios as of September 30, 2025 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. For a reconciliation of common equity to TCE, see Appendix F. 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.

^(4)^ Ratios as of September 30, 2025 are preliminary. Commencing January 1, 2025, the capital effects resulting from adoption of the Current Expected Credit Losses (CECL) methodology have been fully reflected in Citi's regulatory capital. For additional information, see “Capital Resources—Regulatory Capital Treatment—Modified Transition of the Current Expected Credit Losses Methodology” in Citigroup’s 2024 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 Supplementary Leverage Ratio, see Appendix E.

^(5)^ Citigroup’s payout ratio is the sum of common dividends and common share repurchases divided by net income available to common shareholders.

^(6)^ Citigroup’s tangible book value per share is a non-GAAP financial measure. For a reconciliation of common equity to tangible common equity and resulting calculation of tangible book value per share, see Appendix F.

^(7)^ For information on Citi’s Cumulative Translation Adjustment as of June 30, 2025 attributable to Grupo Financiero Banamex, S.A. de C.V. and currently reported in AOCI, see the Citigroup Consolidated Balance Sheet in Citigroup’s Third Quarter 2025 Financial Data Supplement available on Citigroup’s website at www.citigroup.com.

^(8)^ Citigroup’s revenues excluding divestiture-related impacts are non-GAAP financial measures. For a reconciliation to reported results, see Appendices B and C. The reconciling items’ impact on revenue is reflected in non-interest revenue.

^(9)^ Included in Citi's reported expenses was an immaterial increase in divestiture-related expenses, in addition to the notable item, of $40 million in the third quarter 2025 primarily related to separation costs in Mexico, compared to aggregate divestiture-related expenses of $67 million in the third quarter 2024. Accordingly, Citi is not adjusting for these additional immaterial amounts.

^(10)^ Prime balances are defined as clients’ billable balances where Citigroup provides cash or synthetic prime brokerage services.

^(11)^ 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. 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, see Appendix G.

^(12)^ All Other (managed basis) reflects results on a managed basis, which excludes divestiture-related impacts, for all periods, related to Citigroup’s divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM businesses 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, see Appendix C. 15

Exhibit 99.2


CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT	3Q25


		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
	Wealth	8
	U.S. Personal Banking (USPB)	9
	Metrics	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)

****		****			****			****			****			****			3Q25 Increase/			Nine			Nine			YTD 2025 vs.
****		3Q			4Q			1Q			2Q			3Q			(Decrease) from			Months			Months			YTD 2024 Increase/
****	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24	2024		****	2025		****	(Decrease)

Total revenues, net of interest expense^(1)^		$	20,209		$	19,465		$	21,596		$	21,668		$	22,090		2%		9%	$	61,257		$	65,354		7%
Total operating expenses			13,144			13,070			13,425			13,577			14,290		5%		9%		40,497			41,292		2%
Net credit losses (NCLs)			2,172			2,242			2,459			2,234			2,214		(1%)		2%		6,758			6,907		2%
Credit reserve build (release) for loans			210			321			102			243			45		(81%)		(79%)		405			390		(4%)
Provision / (release) for unfunded lending commitments			105			(118)			108			(19)			100		NM		(5%)		(1)			189		NM
Provisions for benefits and claims, other assets and HTM debt securities			188			148			54			414			91		(78%)		(52%)		354			559		58%
Provisions for credit losses and for benefits and claims			2,675			2,593			2,723			2,872			2,450		(15%)		(8%)		7,516			8,045		7%
Income (loss) from continuing operations before income taxes			4,390			3,802			5,448			5,219			5,350		3%		22%		13,244			16,017		21%
Income taxes (benefits)			1,116			912			1,340			1,186			1,559		31%		40%		3,299			4,085		24%
Income (loss) from continuing operations		****	3,274		****	2,890		****	4,108		****	4,033		****	3,791		(6%)		16%		9,945		****	11,932		20%
Income (loss) from discontinued operations, net of taxes			(1)			-			(1)			-			(1)		NM		-		(2)			(2)		-
Net income (loss) before noncontrolling interests			3,273			2,890			4,107			4,033			3,790		(6%)		16%		9,943			11,930		20%
Net income (loss) attributable to noncontrolling interests			35			34			43			14			38		171%		9 %		117			95		(19%)
Citigroup's net income (loss)		$	3,238		$	2,856		$	4,064		$	4,019		$	3,752		(7%)		16%	$	9,826		$	11,835		20%

Diluted earnings per share:
Income (loss) from continuing operations		$	1.51		$	1.34		$	1.96		$	1.96		$	1.86		(5%)		23%	$	4.61		$	5.78		25%
Citigroup's net income (loss)		$	1.51		$	1.34		$	1.96		$	1.96		$	1.86		(5%)		23%	$	4.61		$	5.78		25%

Preferred dividends		$	277		$	256		$	269		$	287		$	274		(5%)		(1%)	$	798		$	830		4%

Income allocated to unrestricted common shareholders—basic
Income (loss) from continuing operations (for EPS purposes)		$	2,906		$	2,563		$	3,752		$	3,683		$	3,439		(7%)		18%	$	8,897		$	10,874		22%
Citigroup's net income (loss) (for EPS purposes)			2,905			2,563			3,751			3,683			3,438		(7%)		18%		8,895			10,872		22%

Income allocated to unrestricted common shareholders—diluted
Income (loss) from continuing operations (for EPS purposes)		$	2,926		$	2,583		$	3,769		$	3,702		$	3,459		(7%)		18%	$	8,951		$	10,930		22%
Citigroup's net income (loss) (for EPS purposes)			2,925			2,583			3,768			3,702			3,458		(7%)		18%		8,949			10,928		22%

Shares (in millions):
Average basic			1,899.9			1,887.6			1,879.0			1,855.9			1,820.3		(2%)		(4%)		1,906.0			1,851.7		(3%)
Average diluted			1,940.3			1,931.0			1,919.6			1,893.1			1,862.6		(2%)		(4%)		1,943.0			1,891.8		(3%)
Common shares outstanding, at period end			1,891.3			1,877.1			1,867.7			1,840.9			1,789.3		(3%)		(5%)

Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio^(2)(3)(4)^			13.71%			13.63%			13.41%			13.48%			13.2%
Tier 1 Capital ratio^(2)(3)(4)^			15.24%			15.31%			15.10%			14.98%			14.9%
Total Capital ratio^(2)(3)(4)^			15.21%			15.42%			15.41%			15.28%			15.3%
Supplementary Leverage ratio (SLR)^(2)(4)(5)^			5.85%			5.85%			5.79%			5.53%			5.5%
Return on average assets			0.52%			0.46%			0.65%			0.61%			0.55%		(6) bps		3 bps		0.53%			0.60%		7 bps
Return on average common equity (RoCE)			6.2%			5.4%			8.0%			7.7%			7.1%		(60) bps		90 bps		6.4%			7.6%		120 bps
Average tangible common equity (TCE) (in billions of dollars)^(6)^		$	168.3		$	168.6		$	169.3		$	172.1		$	172.3		-		2%	$	166.5		$	170.8		3%
Return on average tangible common equity (RoTCE)^(6)^			7.0%			6.1%			9.1%			8.7%			8.0%		(70) bps		100 bps		7.2%			8.6%		140 bps
Operating leverage^(7)^			281 bps			3,002 bps			759 bps			567 bps			59 bps		(508) bps		(222) bps		(133) bps			473 bps		606 bps
Efficiency ratio (total operating expenses/total revenues, net)			65.0%			67.1%			62.2%			62.7%			64.7%		200 bps		(30) bps		66.1%			63.2%		(290) bps

Balance sheet data (in billions of dollars, except per share amounts)^(2)^:
Total assets		$	2,430.7		$	2,352.9		$	2,571.5		$	2,622.8		$	2,642.5		1%		9%
Total average assets			2,492.1			2,474.8			2,517.1			2,647.8			2,688.8		2%		8%		2,466.3			2,617.9		6%
Total loans			688.9			694.5			702.1			725.3			733.9		1%		7%
Total deposits			1,310.0			1,284.5			1,316.4			1,357.7			1,383.9		2%		6%
Citigroup's stockholders' equity			209.1			208.6			212.4			213.2			213.0		-		2%
Book value per share			101.91			101.62			103.90			106.94			108.41		1%		6%
Tangible book value per share^(6)^			89.67			89.34			91.52			94.16			95.72		2%		7%

Direct staff (in thousands)			229			229			229			230			227		(1%)		(1%)

(1)	Effective January 1, 2025, certain transaction processing fees paid by Citi, primarily to credit card networks, reported within USPB, Services, Wealth, and All Other—Legacy Franchises (Mexico Consumer/SBMM and Asia Consumer), which were previously presented within Other operating expenses, are presented as contra-revenue within Commissions and fees reported in Non-interest revenue. Prior periods were conformed to reflect this change in presentation.
(2)	3Q25 is preliminary.
---	---
(3)	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.
---	---
(4)	Commencing January 1, 2025, the capital effects resulting from adoption of the Current Expected Credit Losses (CECL) methodology have been fully reflected in Citi's regulatory capital. For additional information, see "Capital Resources—Regulatory Capital Treatment—Modified Transition of the Current Expected Credit Losses Methodology" in Citigroup's 2024 Annual Report on Form 10-K.
---	---
(5)	For the composition of Citi's SLR, see page 22.
---	---
(6)	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.
---	---
(7)	Represents the year-over-year growth rate in basis points (bps) of Total revenues, net of interest expense less the year-over-year growth rate of Total operating expenses. Positive operating leverage indicates that the revenue growth rate was greater than the expense growth rate.
---	---

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page1

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

	****	****		****	****		****	****		****	****		****	****		****	3Q25 Increase/			Nine		****	Nine		****	YTD 2025 vs.
	****	3Q		****	4Q		****	1Q		****	2Q		****	3Q		****	(Decrease) from			Months		****	Months		****	YTD 2024 Increase/
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24	2024		****	2025		****	(Decrease)
Revenues
Interest income (including dividends)		$	36,456		$	35,047		$	33,666		$	35,859		$	36,690		2%		1%	$	108,666		$	106,215		(2%)
Interest expense			23,094			21,314			19,654			20,684			21,750		5%		(6%)		68,304			62,088		(9%)
Net interest income (NII)			13,362			13,733			14,012			15,175			14,940		(2%)		12%		40,362			44,127		9%

Commissions and fees^(1)^			2,589			2,456			2,707			2,745			2,888		5%		12%		7,780			8,340		7%
Principal transactions^(2)^			2,835			2,453			3,510			2,503			2,772		11%		(2%)		8,656			8,785		1%
Administration and other fiduciary fees			1,059			992			1,045			1,123			1,117		(1%)		5%		3,142			3,285		5%
Realized gains (losses) on sales of investments, net			72			118			121			138			105		(24%)		46%		210			364		73%
Net impairment losses on investments recognized in earnings			(41)			(338)			(58)			(35)			(25)		29%		39%		(92)			(118)		(28%)
Other revenue (loss)^(2)^			333			51			259			19			293		NM		(12%)		1,199			571		(52%)
Total non-interest revenues (NIR)	****	****	6,847	****	****	5,732	****	****	7,584	****	****	6,493	****	****	7,150	****	10%	****	4%		20,895	****	****	21,227	****	2%
Total revenues, net of interest expense^(1)^	****	****	20,209	****	****	19,465	****	****	21,596	****	****	21,668	****	****	22,090	****	2%	****	9%		61,257			65,354	****	7%

Provisions for credit losses and for benefits and claims
Net credit losses on loans			2,172			2,242			2,459			2,234			2,214		(1%)		2%		6,758			6,907		2%
Credit reserve build / (release) for loans			210			321			102			243			45		(81%)		(79%)		405			390		(4%)
Provision for credit losses on loans			2,382			2,563			2,561			2,477			2,259		(9%)		(5%)		7,163			7,297		2%
Provision for credit losses on held-to-maturity (HTM) debt securities			50			(5)			(5)			7			(5)		NM		NM		55			(3)		NM
Provision for credit losses on other assets			110			136			39			381			79		(79%)		(28%)		226			499		121%
Policyholder benefits and claims			28			17			20			26			17		(35%)		(39%)		73			63		(14%)
Provision for credit losses on unfunded lending commitments			105			(118)			108			(19)			100		NM		(5%)		(1)			189		NM
Total provisions for credit losses and for benefits and claims	****	****	2,675	****	****	2,593	****	****	2,723	****	****	2,872	****	****	2,450	****	(15%)	****	(8%)		7,516	****	****	8,045	****	7%

Operating expenses
Compensation and benefits			7,058			6,923			7,464			7,633			7,474		(2%)		6%		21,619			22,571		4%
Technology / communication			2,273			2,278			2,379			2,290			2,325		2%		2%		6,757			6,994		4%
Transactional and product servicing			1,103			1,102			1,102			1,184			1,110		(6%)		1%		3,336			3,396		2%
Premises and equipment			606			650			574			615			607		(1%)		-		1,788			1,796		-
Professional services			491			650			476			510			514		1%		5%		1,366			1,500		10%
Advertising and marketing			282			323			250			269			260		(3%)		(8%)		790			779		(1%)
Restructuring	****	****	9	****	****	(11)	****	****	(3)	****	****	(2)	****	****	(5)	****	(150%)	****	NM		270	****	****	(10)	****	NM
Other operating^(1)^			1,322			1,155			1,183			1,078			2,005		86%		52%		4,571			4,266		(7%)
Total operating expenses^(1)^			13,144			13,070			13,425			13,577			14,290		5%		9%		40,497			41,292		2%

Income (loss) from continuing operations before income taxes			4,390			3,802			5,448			5,219			5,350		3%		22%		13,244			16,017		21%
Provision (benefit) for income taxes			1,116			912			1,340			1,186			1,559		31%		40%		3,299			4,085		24%

Income (loss) from continuing operations	****	****	3,274	****	****	2,890		****	4,108	****	****	4,033	****	****	3,791	****	(6%)	****	16%		9,945	****	****	11,932	****	20%
Discontinued operations
Income (loss) from discontinued operations			(1)			-			(1)			-			(1)		NM		-		(2)			(2)		-
Provision (benefit) for income taxes			-			-			-			-			-		-		-		-			-		-
Income (loss) from discontinued operations, net of taxes			(1)			-			(1)			-			(1)		NM		-		(2)			(2)		-

Net income (loss) before attribution to noncontrolling interests			3,273			2,890			4,107			4,033			3,790		(6%)		16%		9,943			11,930		20%
Noncontrolling interests			35			34			43			14			38		171%		9%		117			95		(19%)
Citigroup’s net income (loss)	****	$	3,238	****	$	2,856		$	4,064	****	$	4,019	****	$	3,752	****	(7%)	****	16%	$	9,826	****	$	11,835	****	20%

(1)	See footnote 1 on page 1.
(2)	Effective July 1, 2025, gains and losses on certain economic and qualifying hedging derivatives and foreign currency transaction gains and losses related to non-U.S. dollar debt and certain foreign operations in countries with highly inflationary economies with the U.S. dollar as their functional currency, which were previously presented within Other revenue, are presented within Principal transactions. Prior periods were conformed to reflect this change in presentation.
---	---

(1)

See footnote 1 on page 1.

(2)

Effective July 1, 2025, gains and losses on certain economic and qualifying hedging derivatives and foreign currency transaction gains and losses related to non-U.S. dollar debt and certain foreign operations in countries with highly inflationary economies with the U.S. dollar as their functional currency, which were previously presented within Other revenue, are presented within Principal transactions. Prior periods were conformed to reflect this change in presentation.

---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page2

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)

											3Q25 Increase/
	September 30,		December 31,		March 31,		June 30,		September 30,		(Decrease) from
	2024		2024		2025		2025		2025^(1)^		2Q25	****	3Q24
Assets
Cash and due from banks (including segregated cash and other deposits)	$	25,266	$	22,782	$	24,463	$	24,991	$	23,545	(6%)		(7%)
Deposits with banks, net of allowance		277,828		253,750		283,868		312,482		324,515	4%		17%
Securities borrowed and purchased under resale agreements, net of allowance		285,928		274,062		390,215		323,892		321,347	(1%)		12%
Brokerage receivables, net of allowance		63,653		50,841		57,440		64,029		75,992	19%		19%
Trading account assets		458,072		442,747		518,577		568,558		562,254	(1%)		23%
Investments
Available-for-sale debt securities		234,444		226,876		225,180		235,802		246,227	4%		5%
Held-to-maturity debt securities, net of allowance		248,274		242,382		220,385		206,094		197,092	(4%)		(21%)
Equity securities		7,953		7,399		7,323		7,504		7,413	(1%)		(7%)
Total investments		490,671		476,657		452,888		449,400		450,732	-		(8%)
Loans
Consumer^(2)^		389,151		393,102		386,312		395,759		398,628	1%		2%
Corporate^(3)^		299,771		301,386		315,744		329,586		335,277	2%		12%
Loans, net of unearned income		688,922		694,488		702,056		725,345		733,905	1%		7%
Allowance for credit losses on loans (ACLL)		(18,356)		(18,574)		(18,726)		(19,123)		(19,206)	-		(5%)
Total loans, net		670,566		675,914		683,330		706,222		714,699	1%		7%
Goodwill		19,691		19,300		19,422		19,878		19,126	(4%)		(3%)
Intangible assets (including MSRs)		4,121		4,494		4,430		4,409		4,330	(2%)		5%
Premises and equipment, net of depreciation and amortization		30,096		30,192		30,814		32,312		32,819	2%		9%
Other assets, net of allowance		104,771		102,206		106,067		116,599		113,116	(3%)		8%
Total assets	$	2,430,663	$	2,352,945	$	2,571,514	$	2,622,772	$	2,642,475	1%		9%
Liabilities
Non-interest-bearing deposits in U.S. offices	$	118,034	$	123,338	$	122,472	$	119,898	$	116,921	(2%)		(1%)
Interest-bearing deposits in U.S. offices		558,461		551,547		562,628		575,709		592,728	3%		6%
Total U.S. deposits		676,495		674,885		685,100		695,607		709,649	2%		5%
Non-interest-bearing deposits in offices outside the U.S.		84,913		84,349		82,215		86,458		83,920	(3%)		(1%)
Interest-bearing deposits in offices outside the U.S.		548,591		525,224		549,095		575,668		590,360	3%		8%
Total international deposits		633,504		609,573		631,310		662,126		674,280	2%		6%
Total deposits		1,309,999		1,284,458		1,316,410		1,357,733		1,383,929	2%		6%
Securities loaned and sold under repurchase agreements		278,377		254,755		403,959		347,913		349,726	1%		26%
Brokerage payables		81,186		66,601		78,302		90,949		89,596	(1%)		10%
Trading account liabilities		142,534		133,846		148,688		163,952		160,243	(2%)		12%
Short-term borrowings		41,340		48,505		49,139		55,560		54,760	(1%)		32%
Long-term debt		299,081		287,300		295,684		317,761		315,846	(1%)		6%
Other liabilities, plus allowances^(4)^		68,244		68,114		66,074		74,774		74,498	-		9%
Total liabilities	$	2,220,761	$	2,143,579	$	2,358,256	$	2,408,642	$	2,428,598	1%		9%
Stockholders' equity
Preferred stock	$	16,350	$	17,850	$	18,350	$	16,350	$	19,050	17%		17%
Common stock		31		31		31		31		31	-		-
Additional paid-in capital		108,969		109,117		108,616		108,839		109,010	-		-
Retained earnings		204,770		206,294		209,013		211,674		214,034	1%		5%
Treasury stock, at cost		(75,840)		(76,842)		(77,880)		(79,886)		(84,932)	(6%)		(12%)
Accumulated other comprehensive income (loss) (AOCI)^(5)^		(45,197)		(47,852)		(45,722)		(43,786)		(44,170)	(1%)		2%
Total common equity	$	192,733	$	190,748	$	194,058	$	196,872	$	193,973	(1%)		1%
Total Citigroup stockholders' equity	$	209,083	$	208,598	$	212,408	$	213,222	$	213,023	-		2%
Noncontrolling interests		819		768		850		908		854	(6%)		4%
Total equity	****	209,902	****	209,366	****	213,258	****	214,130	****	213,877	-		2%
Total liabilities and equity	$	2,430,663	$	2,352,945	$	2,571,514	$	2,622,772	$	2,642,475	1%		9%

(1)	September 30, 2025 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.
---	---
(5)	Included within AOCI is the Cumulative Translation Adjustment (CTA), net of hedges and taxes, amounting to approximately ($9) billion in losses, attributable to Grupo Financiero Banamex, S.A. de C.V. and its consolidated subsidiaries as of June 30, 2025. During the quarter of deconsolidation, the CTA loss will be recognized through earnings, impacting EPS and RoTCE, and reversing the temporary capital benefit from prior sales; the cumulative impact of CTA will ultimately be regulatory capital neutral. The CTA amount of ($9) billion losses is subject to change, including FX movements.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page3

OPERATING SEGMENT, REPORTING UNIT, AND COMPONENT DETAILS

(In millions of dollars)

																	3Q25 Increase/			Nine			Nine			YTD 2025 vs.
	****	3Q		****	4Q		****	1Q		****	2Q		****	3Q		****	(Decrease) from			Months		****	Months		****	YTD 2024 Increase/
		2024			2024			2025			2025			2025			2Q25	****	3Q24	2024			2025			(Decrease)
Revenues, net of interest expense^(1)^
Services		$	5,015		$	5,165		$	4,889		$	5,062		$	5,363		6%		7%	$	14,453		$	15,314		6%
Markets			4,817			4,576			5,986			5,879			5,563		(5%)		15%		15,260			17,428		14%
Banking			1,597			1,241			1,952			1,921			2,132		11%		34%		4,960			6,005		21%
Wealth			1,995			1,994			2,096			2,166			2,164		-		8%		5,489			6,426		17%
U.S. Personal Banking (USPB)			4,964			5,150			5,228			5,119			5,331		4%		7%		14,905			15,678		5%
All Other—managed basis^(2)(3)^			1,820			1,335			1,445			1,698			1,535		(10%)		(16%)		6,168			4,678		(24%)
Reconciling Items—divestiture-related impacts^(4)^			1			4			-			(177)			2		NM		100%		22			(175)		NM
Total net revenues—reported		$	20,209		$	19,465		$	21,596		$	21,668		$	22,090		2%		9%	$	61,257		$	65,354		7%

Income (loss) from continuing operations
Services		$	1,683		$	1,888		$	1,610		$	1,448		$	1,819		26%		8%	$	4,696		$	4,877		4%
Markets			1,089			1,026			1,795			1,749			1,583		(9%)		45%		3,979			5,127		29%
Banking			236			357			542			461			635		38%		169%		1,172			1,638		40%
Wealth			283			334			284			494			374		(24%)		32%		668			1,152		72%
USPB			522			392			745			649			858		32%		64%		990			2,252		127%
All Other—managed basis^(2)(3)^			(494)			(1,071)			(853)			(588)			(701)		(19%)		(42%)		(1,389)			(2,142)		(54%)
Reconciling Items—divestiture-related impacts^(4)^			(45)			(36)			(15)			(180)			(777)		(332%)		NM		(171)			(972)		(468%)

Income (loss) from continuing operations—reported		****	3,274		****	2,890		****	4,108		****	4,033		****	3,791		(6%)		16%		9,945		****	11,932		20%

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

Net income (loss) attributable to noncontrolling interests			35			34			43			14			38		171%		9%		117			95		(19%)

Net income (loss)		$	3,238		$	2,856		$	4,064		$	4,019		$	3,752		(7%)		16%	$	9,826		$	11,835		20%

(1)	See footnote 1 on page 1.
(2)	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.
---	---
(3)	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 (consists of Mexico consumer banking (Mexico Consumer) and Small Business and Middle-Market Banking (SBMM), collectively (Mexico Consumer/SBMM)) within Legacy Franchises. See pages 12 and 14 for additional information.
---	---
(4)	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). See page 14 for additional information.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page4

SERVICES

(In millions of dollars, except as otherwise noted)

											3Q25 Increase/		Nine		Nine		YTD 2025 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2024 Increase/
	2024		2024		2025		2025		2025		2Q25	3Q24	2024		2025		(Decrease)


Net interest income (including dividends)	$	3,435	$	3,446	$	3,498	$	3,630	$	3,823	5%	11%	$	9,977	$	10,951	10%
Fee revenue
Commissions and fees^(1)^		834		806		815		904		880	(3%)	6%		2,490		2,599	4%
Administration and other fiduciary fees		701		635		658		752		746	(1%)	6%		2,081		2,156	4%
Total fee revenue		1,535		1,441		1,473		1,656		1,626	(2%)	6%		4,571		4,755	4%
Principal transactions^(2)^		214		212		233		124		190	53%	(11%)		541		547	1%
All other^(2)(3)^		(169)		66		(315)		(348)		(276)	21%	(63%)		(636)		(939)	(48%)
Total non-interest revenue		1,580		1,719		1,391		1,432		1,540	8%	(3%)		4,476		4,363	(3%)
Total revenues, net of interest expense^(1)^		5,015		5,165		4,889		5,062		5,363	6%	7%		14,453		15,314	6%
Total operating expenses^(1)^		2,575		2,601		2,584		2,679		2,707	1%	5%		7,967		7,970	-
Net credit losses (recoveries) on loans		14		28		6		20		11	(45%)	(21%)		20		37	85%
Credit reserve build (release) for loans		7		(71)		24		53		(4)	NM	NM		(59)		73	NM
Provision (release) for credit losses on unfunded lending commitments		7		(4)		(6)		(6)		(8)	(33%)	NM		21		(20)	NM
Provisions for credit losses for other assets and HTM debt securities		99		159		27		286		62	(78%)	(37%)		182		375	106%
Provision for credit losses		127		112		51		353		61	(83%)	(52%)		164		465	184%
Income from continuing operations before taxes		2,313		2,452		2,254		2,030		2,595	28%	12%		6,322		6,879	9%
Income taxes		630		564		644		582		776	33%	23%		1,626		2,002	23%
Income from continuing operations		1,683		1,888		1,610		1,448		1,819	26%	8%		4,696		4,877	4%
Noncontrolling interests		32		17		15		16		17	6%	(47%)		84		48	(43%)
Net income	$	1,651	$	1,871	$	1,595	$	1,432	$	1,802	26%	9%	$	4,612	$	4,829	5%
EOP assets (in billions)	$	608	$	584	$	589	$	618	$	627	1%	3%
Average assets (in billions)		591		596		578		593		616	4%	4%	$	582	$	596	2%
Efficiency ratio		51%		50%		53%		53%		50%	(300) bps	(100) bps		55%		52%	(300) bps
Average allocated TCE (in billions)^(4)^	$	24.9	$	24.9	$	24.7	$	24.7	$	24.7	-	(1%)	$	24.9	$	24.7	(1%)
RoTCE^(4)^		26.4%		29.9%		26.2%		23.3%		28.9%	560 bps	250 bps		24.7%		26.1%	140 bps

Revenue by component
Net interest income	$	2,731	$	2,840	$	2,865	$	2,949	$	3,121	6%	14%	$	8,083	$	8,935	11%
Non-interest revenue		896		1,095		775		725		761	5%	(15%)		2,483		2,261	(9%)
Treasury and Trade Solutions (TTS)		3,627		3,935		3,640		3,674		3,882	6%	7%		10,566		11,196	6%
Net interest income		704		606		633		681		702	3%	-		1,894		2,016	6%
Non-interest revenue		684		624		616		707		779	10%	14%		1,993		2,102	5%
Securities Services		1,388		1,230		1,249		1,388		1,481	7%	7%		3,887		4,118	6%
Total Services	$	5,015	$	5,165	$	4,889	$	5,062	$	5,363	6%	7%	$	14,453	$	15,314	6%

Revenue by geography
North America	$	1,360	$	1,504	$	1,445	$	1,539	$	1,637	6%	20%	$	3,898	$	4,621	19%
International		3,655		3,661		3,444		3,523		3,726	6%	2%		10,555		10,693	1%
Total	$	5,015	$	5,165	$	4,889	$	5,062	$	5,363	6%	7%	$	14,453	$	15,314	6%

Key drivers^(5)^ **** (in billions of dollars, except as otherwise noted)
Average loans by component
TTS	$	86	$	85	$	86	$	93	$	93	-	8%	$	83	$	91	10%
Securities Services		1		2		1		1		1	-	-		1		1	-
Total	$	87	$	87	$	87	$	94	$	94	-	8%	$	84	$	92	10%

ACLL as a % of EOP loans^(6)^		0.38%		0.30%		0.30%		0.36%		0.35%	(1) bps	(3) bps

Average deposits by component
TTS	$	690	$	704	$	690	$	713	$	744	4%	8%	$	683	$	716	5%
Securities Services		135		135		136		144		149	3%	10%		129		143	11%
Total	$	825	$	839	$	826	$	857	$	893	4%	8%	$	812	$	859	6%

AUC/AUA (in trillions of dollars)^(7)^	$	26.3	$	25.4	$	26.1	$	28.2	$	29.7	5%	13%
Cross-border transaction value^(8)^	$	95.0	$	101.3	$	95.1	$	101.3	$	104.8	3%	10%	$	278.4	$	301.2	8%
U.S. dollar clearing volume (in millions)^(9)^		42.7		44.1		42.7		44.3		44.8	1%	5%		123.9		131.8	6%
Commercial card spend volume	$	18.3	$	17.3	$	17.2	$	17.9	$	18.4	3%	1%	$	53.1	$	53.5	1%

(1)	See footnote 1 on page 1.
(2)	See footnote 2 on page 2.
---	---
(3)	Services revenues reflect the impact of a revenue sharing agreement with Banking – Corporate Lending, for Services products sold to Corporate Lending clients. This generally results in a reduction in Services reported revenue.
---	---
(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)	3Q25 is preliminary.
---	---
(8)	Represents the total value of cross-border foreign exchange payments processed through Citi platforms.
---	---
(9)	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.

Page5

MARKETS

(In millions of dollars, except as otherwise noted)

																	3Q25 Increase/				Nine			Nine			YTD 2025 vs.
		3Q			4Q			1Q			2Q			3Q			(Decrease) from				Months			Months			YTD 2024 Increase/
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24	****	2024		****	2025		****	(Decrease)

Net interest income (including dividends)		$	1,405		$	1,856		$	2,013		$	2,902		$	2,251		(22%)		60%		$	5,149		$	7,166		39%
Fee revenue
Brokerage and fees			391			329			400			399			400		-		2%			1,073			1,199		12%
Investment banking fees^(1)^			118			104			135			106			163		54%		38%			322			404		25%
Other^(2)^			64			50			52			51			63		24%		(2%)			188			166		(12%)
Total fee revenue			573			483			587			556			626		13%		9%			1,583			1,769		12%

Principal transactions^(3)^			2,807			2,341			3,270			2,335			2,746		18%		(2%)			8,481			8,351		(2%)
All other^(3)(4)^			32			(104)			116			86			(60)		NM		NM			47			142		202%
Total non-interest revenue			3,412			2,720			3,973			2,977			3,312		11%		(3%)			10,111			10,262		1%
Total revenues, net of interest expense		****	4,817		****	4,576		****	5,986		****	5,879		****	5,563		(5%)	****	15%			15,260		****	17,428		14%
Total operating expenses			3,339			3,174			3,468			3,509			3,491		(1%)		5%			10,028			10,468		4%
Net credit losses (recoveries) on loans			24			-			142			8			68		NM		183%			168			218		30%
Credit reserve build (release) for loans			37			167			48			53			(44)		NM		NM			46			57		24%
Provision (release) for credit losses on unfunded lending commitments			47			(31)			9			(8)			13		NM		(72%)			48			14		(71%)
Provisions for credit losses for other assets and HTM debt securities			33			(2)			2			55			(5)		NM		NM			67			52		(22%)
Provision for credit losses			141			134			201			108			32		(70%)		(77%)			329			341		4%
Income (loss) from continuing operations before taxes			1,337			1,268			2,317			2,262			2,040		(10%)		53%			4,903			6,619		35%
Income taxes (benefits)			248			242			522			513			457		(11%)		84%			924			1,492		61%
Income (loss) from continuing operations		****	1,089		****	1,026		****	1,795		****	1,749		****	1,583		(9%)		45%			3,979		****	5,127		29%
Noncontrolling interests			17			17			13			21			21		-		24%			58			55		(5%)
Net income (loss)		$	1,072		$	1,009		$	1,782		$	1,728		$	1,562		(10%)	****	46%		$	3,921		$	5,072		29%
EOP assets (in billions)		$	1,002		$	949		$	1,165		$	1,166		$	1,182		1%		18%
Average assets (in billions)			1,082			1,058			1,121			1,222			1,231		1%		14%		$	1,065		$	1,191		12%
Efficiency ratio			69%			69%			58%			60%			63%		300 bps		(600) bps			66%			60%		(600) bps
Average allocated TCE (in billions)^(5)^		$	54.0		$	54.0		$	50.4		$	50.4		$	50.4		-		(7%)		$	54.0		$	50.4		(7%)
RoTCE^(5)^			7.9%			7.4%			14.3%			13.8%			12.3%		(150) bps		440 bps			9.7%			13.5%		380 bps

Revenue by component
Fixed Income markets		$	3,578		$	3,478		$	4,477		$	4,268		$	4,023		(6%)		12%		$	11,272		$	12,768		13%
Equity markets			1,239			1,098			1,509			1,611			1,540		(4%)		24%			3,988			4,660		17%
Total		$	4,817		$	4,576		$	5,986		$	5,879		$	5,563		(5%)	****	15%		$	15,260		$	17,428		14%

Rates and currencies		$	2,465		$	2,421		$	3,048		$	3,134		$	2,823		(10%)		15%		$	7,731		$	9,005		16%
Spread products / other fixed income			1,113			1,057			1,429			1,134			1,200		6%		8%			3,541			3,763		6%
Total Fixed Income markets revenues		$	3,578		$	3,478		$	4,477		$	4,268		$	4,023		(6%)	****	12%		$	11,272		$	12,768		13%

Revenue by geography
North America		$	1,773		$	1,691		$	2,176		$	2,130		$	2,195		3%		24%		$	5,871		$	6,501		11%
International			3,044			2,885			3,810			3,749			3,368		(10%)		11%			9,389			10,927		16%
Total		$	4,817		$	4,576		$	5,986		$	5,879		$	5,563		(5%)		15%		$	15,260		$	17,428		14%

Key drivers^(6)^ **** (in billions of dollars)
Average loans		$	119		$	122		$	128		$	136		$	147		8%		24%		$	119		$	137		15%
NCLs as a % of average loans			0.08%			0.00%			0.45%			0.02%			0.18%		16 bps		10 bps			0.19%			0.21%		2 bps
ACLL as a % of EOP loans^(7)^			0.77%			0.88%			0.89%			0.85%			0.78%		(7) bps		1 bps
Average trading account assets		$	462		$	449		$	476		$	549		$	556		1%		20%		$	432		$	527		22%

(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)	See footnote 2 on page 2.
---	---
(4)	Markets revenues reflect the impact of a revenue sharing agreement with Banking – Corporate Lending, for Markets products sold to Corporate Lending clients. This generally results in a reduction in Markets reported revenue.
---	---
(5)	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.
---	---
(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.

Page6

BANKING

(In millions of dollars, except as otherwise noted)

																	3Q25 Increase/			Nine		****	Nine		****	YTD 2025 vs.
		3Q		****	4Q		****	1Q		****	2Q		****	3Q		****	(Decrease) from			Months		****	Months		****	YTD 2024 Increase/
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24	2024		****	2025		****	(Decrease)

Net interest income (including dividends)		$	527		$	521		$	491		$	530		$	562		6%		7%	$	1,636		$	1,583		(3%)
Fee revenue
Investment banking fees^(1)^			999			951			1,104			1,058			1,169		10%		17%		2,906			3,331		15%
Other^(2)^			31			51			49			59			65		10%		110%		123			173		41%
Total fee revenue			1,030			1,002			1,153			1,117			1,234		10%		20%		3,029			3,504		16%
Principal transactions^(3)^			(204)			(212)			(90)			(179)			(164)		8%		20%		(575)			(433)		25%
All other^(3)(4)^			244			(70)			398			453			500		10%		105%		870			1,351		55%
Total non-interest revenue			1,070			720			1,461			1,391			1,570		13%		47%		3,324			4,422		33%

Total revenues, net of interest expense	****	****	1,597	****	****	1,241	****	****	1,952	****	****	1,921	****	****	2,132	****	11%	****	34%		4,960	****	****	6,005	****	21%
Total operating expenses			1,116			1,051			1,034			1,137			1,139		-		2%		3,426			3,310		(3%)

Net credit losses on loans			36			7			34			16			9		(44%)		(75%)		142			59		(58%)
Credit reserve build (release) for loans			62			(122)			78			137			38		(72%)		(39%)		(78)			253		NM
Provision (release) for credit losses on unfunded lending commitments			59			(82)			107			2			98		NM		66%		(46)			207		NM
Provisions for credit losses for other assets and HTM debt securities			20			(43)			(5)			18			12		(33%)		(40%)		(2)			25		NM
Provision for credit losses			177			(240)			214			173			157		(9%)		(11%)		16			544		NM
Income (loss) from continuing operations before taxes			304			430			704			611			836		37%		175%		1,518			2,151		42%
Income taxes (benefits)			68			73			162			150			201		34%		196%		346			513		48%
Income (loss) from continuing operations	****	****	236	****	****	357		****	542	****	****	461	****	****	635	****	38%	****	169%		1,172	****	****	1,638	****	40%
Noncontrolling interests			(2)			1			(1)			(2)			(3)		(50%)		(50%)		4			(6)		NM
Net income (loss)	****	$	238	****	$	356		$	543	****	$	463	****	$	638	****	38%	****	168%	$	1,168	****	$	1,644	****	41%
EOP assets (in billions)		$	151		$	143		$	147		$	148		$	141		(5%)		(7%)
Average assets (in billions)			152			149			144			150			149		(1%)		(2%)	$	153		$	148		(3%)
Efficiency ratio			70%			85%			53%			59%			53%		(600) bps		(1,700) bps		69%			55%		(1,400) bps
Average allocated TCE (in billions)^(5)^		$	21.8		$	21.8		$	20.6		$	20.6		$	20.6		-		(6%)	$	21.8		$	20.6		(6%)
RoTCE^(5)^			4.3%			6.5%			10.7%			9.0%			12.3%		330 bps		800 bps		7.2%			10.7%		350 bps

Revenue by component
Total Investment Banking		$	934		$	925		$	1,035		$	981		$	1,146		17%		23%	$	2,712		$	3,162		17%
Corporate Lending—excluding gain/(loss) on loan hedges^(4)(6)^			742			322			903			1,002			1,030		3%		39%		2,422			2,935		21%
Total Banking revenues (ex-gain/(loss) on loan hedges)^(4)(6)^			1,676			1,247			1,938			1,983			2,176		10%		30%		5,134			6,097		19%
Gain/(loss) on loan hedges^(4)(6)^			(79)			(6)			14			(62)			(44)		29%		44%		(174)			(92)		47%
Total Banking revenues including gain/(loss) on loan hedges^(4)(6)^	****	$	1,597	****	$	1,241	****	$	1,952	****	$	1,921	****	$	2,132	****	11%		34%	$	4,960	****	$	6,005	****	21%

Business metrics—investment banking fees
Advisory		$	394		$	353		$	424		$	408		$	427		5%		8%	$	892		$	1,259		41%
Equity underwriting (Equity Capital Markets (ECM))			129			214			127			218			174		(20%)		35%		474			519		9%
Debt underwriting (Debt Capital Markets (DCM))			476			384			553			432			568		31%		19%		1,540			1,553		1%
Total		$	999		$	951		$	1,104		$	1,058		$	1,169		10%		17%	$	2,906		$	3,331		15%

Revenue by geography
North America		$	837		$	738		$	989		$	781		$	995		27%		19%	$	2,359		$	2,765		17%
International			760			503			963			1,140			1,137		-		50%		2,601			3,240		25%
Total		$	1,597		$	1,241		$	1,952		$	1,921		$	2,132		11%		34%	$	4,960		$	6,005		21%

Key drivers^(7)^ **** (in billions of dollars)
Average loans		$	88		$	84		$	82		$	84		$	81		(4%)		(8%)	$	89		$	82		(8%)
NCLs as a % of average loans			0.16%			0.03%			0.17%			0.08%			0.04%		(4) bps		(12) bps		0.21%			0.10%		(11) bps
ACLL as a % of EOP loans^(8)^			1.54%			1.42%			1.54%			1.72%			1.83%		11 bps		29 bps

(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)	See footnote 2 on page 2.
---	---
(4)	Banking revenues reflect the impact of a revenue sharing agreement with Banking – Corporate Lending, for Investment Banking, Markets and Services products sold to Corporate Lending clients. This generally results in an increase in Banking reported revenue.
---	---
(5)	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.
---	---
(6)	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.
---	---
(7)	Management uses this information in reviewing the segment's results and believes it is useful to investors concerning underlying segment performance and trends.
---	---
(8)	Excludes loans that are carried at fair value for all periods.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page7

WEALTH

(In millions of dollars, except as otherwise noted)

																	3Q25 Increase/			Nine			Nine			YTD 2025 vs.
		3Q			4Q			1Q			2Q			3Q			(Decrease) from			Months			Months			YTD 2024 Increase/
		2024			2024			2025			2025			2025			2Q25		3Q24	2024			2025			(Decrease)

Net interest income		$	1,233		$	1,247		$	1,274		$	1,278		$	1,332		4%		8%	$	3,261		$	3,884		19%
Fee revenue
Commissions and fees^(1)^			342			358			399			370			406		10%		19%		1,022			1,175		15%
Other^(2)^			241			245			247			245			232		(5%)		(4%)		704			724		3%
Total fee revenue			583			603			646			615			638		4%		9%		1,726			1,899		10%
All other^(3)^			179			144			176			273			194		(29%)		8%		502			643		28%
Total non-interest revenue			762			747			822			888			832		(6%)		9%		2,228			2,542		14%

Total revenues, net of interest expense^(1)^		****	1,995		****	1,994		****	2,096		****	2,166		****	2,164		-		8%		5,489		****	6,426		17%

Total operating expenses^(1)^			1,594			1,561			1,639			1,558			1,654		6%		4%		4,765			4,851		2%
Net credit losses on loans			27			30			38			40			56		40%		107%		91			134		47%
Credit reserve build (release) for loans			8			(11)			61			(64)			(25)		61%		NM		(225)			(28)		88%
Provision (release) for credit losses on unfunded lending commitments			(1)			-			(1)			(2)			(1)		50%		-		(9)			(4)		56%
Provisions for benefits and claims (PBC), and other assets			(1)			1			-			-			-		-		100%		(3)			-		100%
Provisions for credit losses and for PBC			33			20			98			(26)			30		NM		(9%)		(146)			102		NM
Income from continuing operations before taxes			368			413			359			634			480		(24%)		30%		870			1,473		69%
Income taxes			85			79			75			140			106		(24%)		25%		202			321		59%
Income from continuing operations		****	283		****	334		****	284		****	494		****	374		(24%)		32%		668		****	1,152		72%
Noncontrolling interests			-			-			-			-			-		-		-		-			-		-
Net income		$	283		$	334		$	284		$	494		$	374		(24%)		32%	$	668		$	1,152		72%
EOP assets (in billions)		$	230		$	224		$	224		$	228		$	232		2%		1%
Average assets (in billions)			229			227			223			226			233		3%		2%	$	232		$	227		(2%)
Efficiency ratio			80%			78%			78%			72%			76%		400 bps		(400) bps		87%			75%		(1,200) bps
Average allocated TCE (in billions)^(4)^		$	13.2		$	13.2		$	12.3		$	12.3		$	12.3		-		(7%)	$	13.2		$	12.3		(7%)
RoTCE^(4)^			8.5%			10.1%			9.4%			16.1%			12.1%		(400) bps		360 bps		6.8%			12.5%		570 bps

Revenue by component		****			****			****			****			****									****
Private Bank		$	614		$	590		$	664		$	731		$	656		(10%)		7%	$	1,796		$	2,051		14%
Citigold			1,137			1,148			1,164			1,214			1,294		7%		14%		3,073			3,672		19%
Wealth at Work			244			256			268			221			214		(3%)		(12%)		620			703		13%
Total		$	1,995		$	1,994		$	2,096		$	2,166		$	2,164		-		8%	$	5,489		$	6,426		17%

Revenue by geography		****			****			****			****			****									****
North America		$	1,000		$	1,008		$	1,073		$	1,081		$	1,066		(1%)		7%	$	2,620		$	3,220		23%
International			995			986			1,023			1,085			1,098		1%		10%		2,869			3,206		12%
Total		$	1,995		$	1,994		$	2,096		$	2,166		$	2,164		-		8%	$	5,489		$	6,426		17%

Key drivers^(5)^ (in billions of dollars)

EOP client balances	****	****		****	****		****	****		****	****		****	****		****		****				****	****		****
Client investment assets^(6)(7)^		$	580		$	587		$	595		$	635		$	660		4%		14%
Deposits			316			313			309			310			318		3%		1%
Loans			151			148			147			151			151		-		-
Total		$	1,047		$	1,048		$	1,051		$	1,096		$	1,129		3%		8%

Net new investment assets (NNIA)^(7)(8)^		$	13.8		$	15.6		$	16.5		$	2.0		$	18.6		NM		35%	$	26.9		$	37.1		38%
Average deposits			316			315			310			308			315		2%		-		316			311		(2%)
Average loans			150			148			147			149			151		1%		1%		150			149		(1%)
ACLL as a % of EOP loans			0.36%			0.36%			0.40%			0.36%			0.34%		(2) bps		(2) bps

(1)	See footnote 1 on page 1.
(2)	Primarily related to fiduciary and administrative fees.
---	---
(3)	Primarily related to principal transactions revenue including FX translation.
---	---
(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)	Includes assets under management, and trust and custody assets.
---	---
(7)	3Q25 is preliminary.
---	---
(8)	Represents investment asset inflows, including dividends, interest and distributions, less investment asset outflows.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page8

U.S. PERSONAL BANKING

(In millions of dollars, except as otherwise noted)

																	3Q25 Increase/				Nine			Nine			YTD 2025 vs.
		3Q			4Q			1Q			2Q			3Q			(Decrease) from				Months			Months			YTD 2024 Increase/
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24	****	2024		****	2025		****	(Decrease)

Net interest income		$	5,293		$	5,481		$	5,541		$	5,471		$	5,694		4%		8%		$	15,622		$	16,706		7%
Fee revenue
Interchange fees^(1)(2)^			2,388			2,483			2,324			2,499			2,488		-		4%			7,108			7,311		3%
Card rewards and partner payments			(2,839)			(2,960)			(2,821)			(3,008)			(3,031)		(1%)		(7%)			(8,266)			(8,860)		(7%)
Other^(2)^			110			139			143			147			162		10%		47%			329			452		37%
Total fee revenue			(341)			(338)			(354)			(362)			(381)		(5%)		(12%)			(829)			(1,097)		(32%)
All other^(3)^			12			7			41			10			18		80%		50%			112			69		(38%)
Total non-interest revenue			(329)			(331)			(313)			(352)			(363)		(3%)		(10%)			(717)			(1,028)		(43%)

Total revenues, net of interest expense			4,964			5,150			5,228			5,119			5,331		4%		7%			14,905			15,678		5%

Total operating expenses^(1)^			2,376			2,465			2,442			2,381			2,365		(1%)		-			7,181			7,188		-

Net credit losses on loans			1,864			1,920			1,983			1,889			1,776		(6%)		(5%)			5,659			5,648		-
Credit reserve build (release) for loans			41			246			(171)			(6)			64		NM		56%			760			(113)		NM
Provision (release) for credit losses on unfunded lending commit.			-			-			-			1			-		(100%)		-			-			1		NM
Provisions for benefits and claims (PBC), and other assets			4			4			(1)			1			2		100%		(50%)			9			2		(78%)
Provisions for credit losses and for PBC			1,909			2,170			1,811			1,885			1,842		(2%)		(4%)			6,428			5,538		(14%)
Income from continuing operations before taxes			679			515			975			853			1,124		32%		66%			1,296			2,952		128%
Income taxes			157			123			230			204			266		30%		69%			306			700		129%
Income from continuing operations			522			392			745			649			858		32%		64%			990			2,252		127%
Noncontrolling interests			-			-			-			-			-		-		-			-			-		-
Net income		$	522		$	392		$	745		$	649		$	858		32%		64%		$	990		$	2,252		127%
EOP assets (in billions)		$	245		$	252		$	244		$	251		$	252		-		3%
Average assets (in billions)			244			249			247			247			253		2%		4%		$	239		$	249		4%
Efficiency ratio			48%			48%			47%			47%			44%		(300) bps		(400) bps			48%			46%		(200) bps
Average allocated TCE (in billions)^(4)^		$	25.2		$	25.2		$	23.4		$	23.4		$	23.4		-		(7%)		$	25.2		$	23.4		(7%)
RoTCE^(4)^			8.2%			6.2%			12.9%			11.1%			14.5%		340 bps		630 bps			5.2%			12.9%		770 bps

Revenue by component
Branded Cards^(1)(5)^		$	2,741		$	2,806		$	2,892		$	2,822		$	2,970		5%		8%		$	7,929		$	8,684		10%
Retail Services^(1)(5)^			1,704			1,741			1,675			1,649			1,686		2%		(1%)			5,329			5,010		(6%)
Retail Banking^(1)(5)^			519			603			661			648			675		4%		30%			1,647			1,984		20%
Total		$	4,964		$	5,150		$	5,228		$	5,119		$	5,331		4%		7%		$	14,905		$	15,678		5%

Average loans and deposits^(6)^(in billions)
Average loans		$	210		$	216		$	216		$	217		$	220		1%		5%		$	207		$	218		5%
ACLL as a % of EOP loans^(7)^			6.52%			6.38%			6.51%			6.34%			6.33%		(1) bps		(19) bps
Average deposits			85			86			89			90			90		-		6%			93			90		(3%)

(1)	See footnote 1 on page 1.
(2)	Primarily related to retail banking and credit card-related fees.
---	---
(3)	Primarily related to revenue incentives from card networks and partners.
---	---
(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)	Effective January 1, 2025, USPB changed its reporting for certain installment lending products that were transferred from Retail Banking to Branded Cards and Retail Services to reflect where these products are managed. Prior periods were conformed to reflect this change.
---	---
(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.

Page9

U.S. PERSONAL BANKING

Metrics

												3Q25 Increase/
	3Q		4Q		1Q		2Q			3Q		(Decrease) from
	2024		2024		2025		2025		****	2025		2Q25	3Q24

U.S. Personal Banking Key Drivers)^(1)(2)^ **** (in billions of dollars, except as otherwise noted)

New credit cards account acquisitions (in thousands)
Branded Cards		1,224		1,129		1,300		1,194			1,343	12%	10%
Retail Services		1,799		2,391		1,540		2,061			1,868	(9%)	4%
Credit card spend volume
Branded Cards	$	128.9	$	135.4	$	125.1	$	135.8		$	135.6	-	5%
Retail Services		21.7		25.2		19.0		22.9			21.5	(6%)	(1%)
Average loans^(3)^
Branded Cards	$	114.8	$	116.9	$	116.7	$	118.0		$	120.2	2%	5%
Credit cards		111.1		113.1		112.9		114.3			116.5	2%	5%
Personal installment loans (PIL)		3.7		3.8		3.8		3.7			3.7	-	-
Retail Services		51.2		51.9		51.3		50.2			50.3	-	(2%)
Retail Banking		44.3		46.8		47.9		48.7			49.8	2%	12%
EOP loans^(3)^
Branded Cards	$	115.9	$	121.1	$	116.3	$	120.2		$	121.2	1%	5%
Credit cards		112.1		117.3		112.6		116.6			117.4	1%	5%
PIL		3.8		3.8		3.7		3.6			3.8	6%	-
Retail Services		51.6		53.8		50.2		50.7			50.1	(1%)	(3%)
Retail Banking		45.6		46.8		48.2		49.3			50.3	2%	10%
Total revenues, net of interest expenses as a % of average loans
Branded Cards		9.50%		9.55%		10.05%		9.59%			9.80%	21 bps	30 bps
Retail Services		13.24%		13.35%		13.24%		13.18%			13.30%	12 bps	6 bps
NII as a % of average loans^(4)^
Branded Cards		9.18%		9.36%		9.79%		9.53%			9.67%	14 bps	49 bps
Retail Services		17.12%		17.06%		17.13%		16.89%			17.31%	42 bps	19 bps
NCLs as a % of average loans
Branded Cards		3.63%		3.63%		3.97%		3.80%			3.54%	(26) bps	(9) bps
Credit cards		3.56%		3.55%		3.89%		3.73%			3.45%	(28) bps	(11) bps
PIL		5.70%		6.18%		6.19%		6.18%			6.43%	25 bps	73 bps
Retail Services		6.14%		6.21%		6.43%		5.89%			5.28%	(61) bps	(86) bps
Retail Banking		0.24%		0.36%		0.25%		0.27%			0.28%	1 bps	4 bps
Loans 90+ days past due as a % of EOP loans
Branded Cards		1.09%		1.16%		1.18%		1.09%			1.07%	(2) bps	(2) bps
Credit cards		1.11%		1.18%		1.20%		1.11%			1.08%	(3) bps	(3) bps
PIL		0.50%		0.55%		0.49%		0.58%			0.55%	(3) bps	5 bps
Retail Services		2.45%		2.46%		2.38%		2.15%			2.21%	6 bps	(24) bps
Retail Banking^(5)^		0.33%		0.31%		0.33%		0.40%			0.40%	0 bps	7 bps
Loans 30-89 days past due as a % of EOP loans
Branded Cards		1.06%		1.04%		1.03%		0.97%			1.05%	8 bps	(1) bps
Credit cards		1.05%		1.03%		1.02%		0.96%			1.04%	8 bps	(1) bps
PIL		1.32%		1.34%		1.38%		1.39%			1.24%	(15) bps	(8) bps
Retail Services		2.29%		2.09%		2.12%		1.96%			2.11%	15 bps	(18) bps
Retail Banking^(5)^		0.42%		0.48%		0.56%		0.45%			0.39%	(6) bps	(3) bps
Branches (actual)		641		642		644		650			653	-	2%
Mortgage originations	$	4.6	$	4.2	$	2.8	$	4.7		$	4.6	(2%)	-

(1)	Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(2)	See footnote 5 on page 9.
---	---
(3)	Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.
---	---
(4)	Net interest income includes certain fees that are recorded as interest revenue.
---	---
(5)	Excludes U.S. government-sponsored agency guaranteed loans.
---	---

Reclassified to conform to the current period's presentation.

Page10

ALL OTHER—MANAGED BASIS^(1)(2)(3)^

(In millions of dollars, except as otherwise noted)

																	3Q25 Increase/				Nine			Nine			YTD 2025 vs.
	****	3Q		****	4Q		****	1Q		****	2Q		****	3Q		****	(Decrease) from				Months			Months			YTD 2024 Increase/
		2024			2024			2025			2025			2025			2Q25	****	3Q24	****	2024		****	2025		****	(Decrease)

Net interest income		$	1,469		$	1,182		$	1,195		$	1,364		$	1,278		(6%)		(13%)		$	4,717		$	3,837		(19%)
Non-interest revenue^(4)(5)^			351			153			250			334			257		(23%)		(27%)			1,451			841		(42%)
Total revenues, net of interest expense			1,820			1,335			1,445			1,698			1,535		(10%)		(16%)			6,168			4,678		(24%)
Total operating expenses^(4)(5)(6)(7)(8)(9)^			2,077			2,162			2,224			2,276			2,168		(5%)		4%			6,868			6,668		(3%)
Net credit losses on loans			208			257			256			256			297		16%		43%			671			809		21%
Credit reserve build (release) for loans			55			112			73			70			16		(77%)		(71%)			(39)			159		NM
Provision (release) for credit losses on unfunded lending commitments			(7)			(1)			(1)			(6)			(6)		-		14%			(15)			(13)		13%
Provisions for benefits and claims, other assets and HTM debt securities			33			29			31			54			24		(56%)		(27%)			101			109		8%
Provisions for credit losses and for benefits and claims (PBC)			289			397			359			374			331		(11%)		15%			718			1,064		48%
Income (loss) from continuing operations before taxes			(546)			(1,224)			(1,138)			(952)			(964)		(1%)		(77%)			(1,418)			(3,054)		(115%)
Income taxes (benefits)			(52)			(153)			(285)			(364)			(263)		28%		(406%)			(29)			(912)		NM
Income (loss) from continuing operations			(494)			(1,071)			(853)			(588)			(701)		(19%)		(42%)			(1,389)			(2,142)		(54%)
Income (loss) from discontinued operations, net of taxes			(1)			-			(1)			-			(1)		NM		-			(2)			(2)		-
Noncontrolling interests			(12)			(1)			16			(21)			3		NM		NM			(29)			(2)		93%
Net income (loss)		$	(483)		$	(1,070)		$	(870)		$	(567)		$	(705)		(24%)		(46%)		$	(1,362)		$	(2,142)		(57%)
EOP assets (in billions)		$	195		$	201		$	203		$	212		$	208		(2%)		7%
Average assets (in billions)			194			196			204			210			207		(1%)		7%		$	195		$	207		6%
Efficiency ratio			114%			162%			154%			134%			141%		700 bps		2,700 bps			111%			143%		3,200 bps
Average allocated TCE (in billions)^(10)^		$	29.2		$	29.5		$	37.9		$	40.7		$	40.9		-		40%		$	27.4		$	39.4		44%

Revenue by reporting unit and component
Mexico Consumer/SBMM		$	1,523		$	1,422		$	1,467		$	1,536		$	1,722		12%		13%		$	4,719		$	4,725		-
Asia Consumer^(11)^			191			150			135			155			149		(4%)		(22%)			662			439		(34%)
Legacy Holdings Assets (LHA)			20			(9)			19			-			-		-		(100%)			(109)			19		NM
Corporate/Other			86			(228)			(176)			7			(336)		NM		NM			896			(505)		NM
Total		$	1,820		$	1,335		$	1,445		$	1,698		$	1,535		(10%)		(16%)		$	6,168		$	4,678		(24%)

Mexico Consumer/SBMM—key indicators (in billions of dollars)
EOP loans		$	23.5		$	23.1		$	24.1		$	26.8		$	28.5		6%		21%
EOP deposits			34.6			34.1			35.3			38.4			40.6		6%		17%
Average loans			23.9			23.4			23.7			25.5			27.2		7%		14%
NCLs as a % of average loans (Mexico Consumer only)			4.36%			4.81%			5.51%			5.28%			5.46%		18 bps		110 bps
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)			1.37%			1.43%			1.41%			1.58%			1.60%		2 bps		23 bps
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)			1.47%			1.41%			1.46%			1.52%			1.58%		6 bps		11 bps

Asia Consumer—key indicators (in billions of dollars)^(12)(13)^
EOP loans		$	5.5		$	4.7		$	4.5		$	3.0		$	2.7		(10%)		(51%)
EOP deposits			8.4			7.5			7.4			1.5			1.3		(13%)		(85%)
Average loans			5.6			5.1			4.7			4.0			2.8		(30%)		(50%)

Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans		$	2.5		$	2.2		$	2.2		$	2.1		$	1.8		(14%)		(28%)

(1)	Includes Legacy Franchises (see page 12 for details) 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. The results of operations, as well as certain disclosed balance sheet information, for Mexico Consumer/SBMM are presented on a managerial view and include certain intercompany allocations, managerial charges and offshore expenses that reflect the Mexico Consumer/SBMM operations as a component of Citi’s consolidated operations. The Mexico Consumer/SBMM results are therefore not intended to reflect, and may differ (significantly) from, Banamex’s results and operations as a standalone legal entity.
(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 1 on page 1.
---	---
(5)	See footnote 2 on page 14.
---	---
(6)	See footnote 3 on page 14.
---	---
(7)	See footnote 4 on page 14.
---	---
(8)	See footnote 5 on page 14.
---	---
(9)	See footnote 6 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.
---	---
(11)	Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.
---	---
(12)	Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.
---	---
(13)	The key indicators for Asia Consumer also reflect the reclassification of loans and deposits to Other assets and Other liabilities under HFS accounting on Citi’s Consolidated Balance Sheet beginning in 2Q25.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page11

ALL OTHER—MANAGED BASIS^(1)(2)^

Legacy Franchises^(3)^

(In millions of dollars, except as otherwise noted)

																	3Q25 Increase/				Nine		****	Nine				YTD 2025 vs.
	****	3Q		****	4Q		****	1Q		****	2Q		****	3Q		****	(Decrease) from				Months		****	Months				YTD 2024 Increase/
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24	****	2024		****	2025				(Decrease)

Net interest income		$	1,253		$	1,160		$	1,167		$	1,271		$	1,338		5%		7%		$	3,727		$	3,776		1%
Non-interest revenue^(4)(5)^			481			403			454			420			533		27%		11%			1,545			1,407		(9%)
Total revenues, net of interest expense	****	****	1,734	****	****	1,563	****	****	1,621	****	****	1,691	****		1,871	****	11%	****	8%			5,272	****	****	5,183	****	(2%)
Total operating expenses^(4)(5)(6)(7)(8)(9)^			1,475			1,381			1,334			1,287			1,320		3%		(11%)			4,630			3,941		(15%)
Net credit losses on loans			208			257			256			256			297		16%		43%			671			809		21%
Credit reserve build (release) for loans			55			112			73			70			16		(77%)		(71%)			(39)			159		NM
Provision (release) for credit losses on unfunded lending commitments			(7)			(1)			(1)			(6)			(6)		-		14%			(15)			(13)		13%
Provisions for benefits and claims (PBC), other assets and HTM debt securities			35			25			30			51			20		(61%)		(43%)			100			101		1%
Provisions for credit losses and for PBC			291			393			358			371			327		(12%)		12%			717			1,056		47%
Income (loss) from continuing operations before taxes			(32)			(211)			(71)			33			224		NM		NM			(75)			186		NM
Income taxes (benefits)			(1)			(53)			(25)			(5)			66		NM		NM			11			36		227%
Income (loss) from continuing operations	****	****	(31)		****	(158)		****	(46)	****	****	38			158		316%	****	NM			(86)		****	150		NM
Noncontrolling interests			-			3			14			(22)			3		NM		NM			2			(5)		NM
Net income (loss)	****	$	(31)		$	(161)		$	(60)	****	$	60		$	155		158%	****	NM		$	(88)		$	155		NM
EOP assets (in billions)		$	69		$	74		$	77		$	83		$	86		4%		25%
Average assets (in billions)			70			72			77			81			85		5%		21%		$	75		$	81		8%
Efficiency ratio			85%			88%			82%			76%			71%		(500) bps		(1,400) bps			88%			76%		(1,200) bps
Allocated TCE (in billions)^(10)^		$	6.2		$	6.2		$	5.1		$	5.1		$	5.1		-		(18%)		$	6.2		$	5.1		(18%)

Revenue by reporting unit and component
Mexico Consumer/SBMM^(3)^		$	1,523		$	1,422		$	1,467		$	1,536		$	1,722		12%		13%		$	4,719		$	4,725		-
Asia Consumer^(11)^			191			150			135			155			149		(4%)		(22)%			662			439		(34%)
Legacy Holdings Assets (LHA)			20			(9)			19			-			-		-		(100)%			(109)			19		NM
Total		$	1,734		$	1,563		$	1,621		$	1,691		$	1,871		11%		8%		$	5,272		$	5,183		(2%)

Mexico Consumer/SBMM^(3)^—key indicators (in billions of dollars)
EOP loans		$	23.5		$	23.1		$	24.1		$	26.8		$	28.5		6%		21%
EOP deposits			34.6			34.1			35.3			38.4			40.6		6%		17%
Average loans			23.9			23.4			23.7			25.5			27.2		7%		14%
NCLs as a % of average loans (Mexico Consumer only)			4.36%			4.81%			5.51%			5.28%			5.46%		18 bps		110 bps
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)			1.37%			1.43%			1.41%			1.58%			1.60%		2 bps		23 bps
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)			1.47%			1.41%			1.46%			1.52%			1.58%		6 bps		11 bps

Asia Consumer—key indicators (in billions of dollars)^(12)(13)^
EOP loans		$	5.5		$	4.7		$	4.5		$	3.0		$	2.7		(10%)		(51%)
EOP deposits			8.4			7.5			7.4			1.5			1.3		(13%)		(85%)
Average loans			5.6			5.1			4.7			4.0			2.8		(30%)		(50%)

Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans		$	2.5		$	2.2		$	2.2		$	2.1		$	1.8		(14%)		(28%)

(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.

The results of operations, as well as certain disclosed balance sheet information, for Mexico Consumer/SBMM are presented on a managerial view and include certain intercompany allocations, managerial charges and offshore expenses that reflect the Mexico Consumer/SBMM operations as a component of Citi’s consolidated operations. The Mexico Consumer/SBMM results are therefore not intended to reflect, and may differ (significantly) from, Banamex’s results and operations as a standalone legal entity.

(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 has exited or intends to exit (collectively Asia Consumer); Mexico Consumer/SBMM (consists of Mexico consumer banking (Mexico Consumer) and Small Business and Middle-Market Banking (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 1 on page 1.
---	---
(5)	See footnote 2 on page 14.
---	---
(6)	See footnote 3 on page 14.
---	---
(7)	See footnote 4 on page 14.
---	---
(8)	See footnote 5 on page 14.
---	---
(9)	See footnote 6 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.
---	---
(11)	Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.
---	---
(12)	Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.
---	---
(13)	The key indicators for Asia Consumer also reflect the reclassification of loans and deposits to Other assets and Other liabilities under HFS accounting on Citi’s Consolidated Balance Sheet beginning in 2Q25.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page12

ALL OTHER

Corporate/Other^(1)^

(In millions of dollars, except as otherwise noted)

	****			****			****			****			****			****	3Q25 Increase/			Nine		****	Nine		****	YTD 2025 vs.
	****	3Q		****	4Q		****	1Q		****	2Q		****	3Q		****	(Decrease) from			Months		****	Months		****	YTD 2024 Increase/
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24	2024		****	2025		****	(Decrease)

Net interest income		$	216		$	22		$	28		$	93		$	(60)		NM		NM	$	990		$	61		(94%)
Non-interest revenue			(130)			(250)			(204)			(86)			(276)		(221%)		(112%)		(94)			(566)		NM
Total revenues, net of interest expense	****	****	86	****	****	(228)	****	****	(176)	****	****	7	****	****	(336)	****	NM	****	NM		896	****	****	(505)	****	NM

Total operating expenses			602			781			890			989			848		(14%)		41%		2,238			2,727		22%
Provisions for other assets, HTM debt securities and other			(2)			4			1			3			4		33%		NM		1			8		NM
Income (loss) from continuing operations before taxes			(514)			(1,013)			(1,067)			(985)			(1,188)		(21%)		(131%)		(1,343)			(3,240)		(141%)
Income taxes (benefits)			(51)			(100)			(260)			(359)			(329)		8%		NM		(40)			(948)		NM
Income (loss) from continuing operations	****	****	(463)		****	(913)		****	(807)		****	(626)		****	(859)		(37%)	****	(86%)		(1,303)	****	****	(2,292)		(76%)
Income (loss) from discontinued operations, net of taxes			(1)			-			(1)			-			(1)		NM		-		(2)			(2)		-
Noncontrolling interests			(12)			(4)			2			1			-		(100%)		100%		(31)			3		NM
Net income (loss)	****	$	(452)		$	(909)		$	(810)		$	(627)		$	(860)		(37%)	****	(90%)	$	(1,274)	****	$	(2,297)		(80%)
EOP assets (in billions)		$	126		$	127		$	126		$	129		$	122		(5%)		(3%)
Average allocated TCE (in billions)^(2)^			23.0			23.3			32.8			35.6			35.8		1%		56%	$	21.2		$	34.3		62%

(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.

Page13

ALL OTHER

RECONCILING ITEMS^(1)^

Divestiture-Related Impacts

(In millions of dollars, except as otherwise noted)

																	3Q25 Increase/				Nine			Nine			YTD 2025 vs.
		3Q			4Q			1Q			2Q			3Q			(Decrease) from				Months			Months			YTD 2024 Increase/
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24	****	2024		****	2025		****	(Decrease)

Net interest income		$	-		$	-		$	-		$	-		$	-		-		-		$	-		$	-		-
Non-interest revenue^(2)^			1			4			-			(177)			2		NM		100%			22			(175)		NM
Total revenues, net of interest expense		****	1		****	4		****	-		****	(177)		****	2	****	NM	****	100%			22			(175)		NM
Total operating expenses^(2)(3)(4)(5)(6)^			67			56			34			37			766		NM		NM			262			837		219%
Net credit losses on loans			(1)			-			-			5			(3)		NM		(200%)			7			2		(71%)
Credit reserve build (release) for loans			-			-			(11)			-			-		-		-			-			(11)		NM
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)			(1)			-			(11)			5			(3)		NM		(200%)			7			(9)		NM
Income (loss) from continuing operations before taxes			(65)			(52)			(23)			(219)			(761)		(247%)		NM			(247)			(1,003)		(306%)
Income taxes (benefits)			(20)			(16)			(8)			(39)			16		NM		NM			(76)			(31)		59%
Income (loss) from continuing operations			(45)			(36)			(15)			(180)			(777)		(332%)		NM			(171)			(972)		(468%)
Income (loss) from discontinued operations, net of taxes		****	-		****	-		****	-		****	-		****	-	****	-		-			-			-		-
Noncontrolling interests			-			-			-			-			-		-		-			-			-		-
Net income (loss)		$	(45)		$	(36)		$	(15)		$	(180)		$	(777)	****	(332%)		NM		$	(171)		$	(972)		(468%)

(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)	2Q25 includes (i) an approximately $186 million loss recorded in revenue (approximately $157 million after tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $37 million in operating expenses (approximately $26 million after tax) primarily related to separation costs in Mexico. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025.
---	---
(3)	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. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024.
---	---
(4)	4Q24 includes approximately $56 million in operating expenses (approximately $39 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, 2024.
---	---
(5)	1Q25 includes approximately $34 million in operating expenses (approximately $23 million after-tax), largely 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, 2025.
---	---
(6)	3Q25 includes approximately $766 million in operating expenses (approximately $744 million after-tax), driven by a goodwill impairment charge in Mexico ($726 million ($714 million after-tax)) and separation costs in Mexico.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page14

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	****	3Q24		****	2Q25		****	3Q25^(5)^		****	3Q24		****	2Q25		****	3Q25^(5)^		****	3Q24	****	2Q25	****	3Q25^(5)^
Assets
Deposits with banks		$	266,300		$	298,158		$	332,245		$	3,050		$	3,043		$	3,435		4.56%		4.09%		4.10%
Securities borrowed and purchased under resale agreements^(6)^			335,601			375,205			357,804			7,293			6,621			7,003		8.65%		7.08%		7.77%
Trading account assets^(7)^			416,636			506,877			523,334			4,451			5,821			5,289		4.25%		4.61%		4.01%
Investments			500,007			449,852			449,689			4,690			4,215			4,177		3.73%		3.76%		3.69%
Consumer loans			386,155			390,349			396,333			10,051			9,771			10,150		10.35%		10.04%		10.16%
Corporate loans			300,357			321,827			328,686			5,771			5,212			5,263		7.64%		6.50%		6.35%
Total loans (net of unearned income)^(8)^			686,512			712,176			725,019			15,822			14,983			15,413		9.17%		8.44%		8.43%
Other interest-earning assets			77,060			83,064			83,974			1,174			1,204			1,400		6.06%		5.81%		6.61%
Total average interest-earning assets		$	2,282,116		$	2,425,332		$	2,472,065		$	36,480		$	35,887		$	36,717		6.36%		5.93%		5.89%
Liabilities
Deposits		$	1,109,067		$	1,138,996		$	1,180,367		$	10,319		$	8,685		$	9,163		3.70%		3.06%		3.08%
Securities loaned and sold under repurchase agreements^(6)^			338,459			421,198			401,821			7,328			6,938			7,356		8.61%		6.61%		7.26%
Trading account liabilities^(7)^			96,448			104,148			107,815			792			748			755		3.27%		2.88%		2.78%
Short-term borrowings and other interest-bearing liabilities			122,255			140,571			147,175			2,009			1,800			1,933		6.54%		5.14%		5.21%
Long-term debt^(9)^			175,690			182,803			187,340			2,646			2,513			2,543		5.99%		5.51%		5.39%
Total average interest-bearing liabilities		$	1,841,919		$	1,987,716		$	2,024,518		$	23,094		$	20,684		$	21,750		4.99%		4.17%		4.26%


Net interest income as a % of average interest-earning assets (NIM)^(9)^											$	13,386		$	15,203		$	14,967		2.33%		2.51%		2.40%
3Q25 increase (decrease) from:																				7 bps		(11) 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 $24 million for 3Q24, $28 million for 2Q25 and $27 million for 3Q25.
(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)	3Q25 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.

Page15

EOP LOANS^(1)(2)^

(In billions of dollars)

											3Q25 Increase/
	3Q		4Q		1Q		2Q		3Q		(Decrease) from
	2024		2024		2025		2025		2025		2Q25	****	3Q24

Corporate loans by region
North America	$	127.5	$	130.8	$	138.7	$	146.5	$	150.1	2%		18%
International		172.3		170.6		177.0		183.1		185.2	1%		7%
Total corporate loans	$	299.8	$	301.4	$	315.7	$	329.6	$	335.3	2%		12%

Corporate loans by segment and reporting unit
Services	$	88.7	$	87.9	$	98.0	$	96.4	$	99.4	3%		12%
Markets		120.0		125.3		129.8		144.3		149.7	4%		25%
Banking		84.7		82.1		81.4		81.9		78.8	(4%)		(7%)
All Other - Legacy Franchises - Mexico SBMM & AFG^(3)^		6.4		6.1		6.5		7.0		7.4	6%		16%
Total corporate loans	$	299.8	$	301.4	$	315.7	$	329.6	$	335.3	2%		12%

Wealth by region
North America	$	99.8	$	98.0	$	96.7	$	98.0	$	97.9	-		(2%)
International		51.2		49.5		50.6		52.7		53.5	2%		4%
Total	$	151.0	$	147.5	$	147.3	$	150.7	$	151.4	-		-

USPB^(4)^
Branded Cards	$	115.9	$	121.1	$	116.3	$	120.2	$	121.2	1%		5%
Credit cards		112.1		117.3		112.6		116.6		117.4	1%		5%
Personal installment loans (PIL)		3.8		3.8		3.7		3.6		3.8	6%		-
Retail Services		51.6		53.8		50.2		50.7		50.1	(1%)		(3%)
Retail Banking		45.6		46.8		48.2		49.3		50.3	2%		10%
Total	$	213.1	$	221.7	$	214.7	$	220.2	$	221.6	1%		4%

All Other—Consumer
Mexico Consumer	$	17.4	$	17.2	$	17.9	$	20.0	$	21.2	6%		22%
Asia Consumer^(5)^		5.5		4.7		4.5		3.0		2.7	(10%)		(51%)
Legacy Holdings Assets (LHA)		2.2		2.0		1.9		1.9		1.7	(11%)		(23%)
Total	$	25.1	$	23.9	$	24.3	$	24.9	$	25.6	3%		2%

Total consumer loans	$	389.2	$	393.1	$	386.3	$	395.8	$	398.6	1%		2%

Total loans—EOP	$	688.9	$	694.5	$	702.1	$	725.3	$	733.9	1%		7%

Total loans—average	$	686.5	$	688.0	$	690.7	$	712.2	$	725.0	2%		6%

NCLs as a % of total average loans		1.26%		1.30%		1.44%		1.26%		1.21%	(5) bps		(5) 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 SBMM, and the 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)	See footnote 5 on page 9.
---	---
(5)	Asia Consumer also includes loans in Poland (through 1Q25) and Russia.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation. Page16

EOP DEPOSITS

(In billions of dollars)

																	3Q25 Increase/
		3Q			4Q			1Q			2Q			3Q			(Decrease) from
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24

Services, Markets, and Banking by region
North America		$	394.7		$	397.8		$	406.2		$	414.4		$	428.4		3%		9%
International			444.9			422.5			444.4			477.2			483.1		1%		9%
Total		$	839.6		$	820.3		$	850.6		$	891.6		$	911.5		2%		9%
Treasury and Trade Solutions		$	683.7		$	680.7		$	692.1		$	726.4		$	740.0		2%		8%
Securities Services			142.0			126.3			140.9			148.1			151.3		2%		7%
Services		$	825.7		$	807.0		$	833.0		$	874.5		$	891.3		2%		8%
Markets^(1)^			13.4			12.7			17.1			16.7			19.4		16%		45%
Banking			0.5			0.6			0.5			0.4			0.8		100%		60%
Total		$	839.6		$	820.3		$	850.6		$	891.6		$	911.5		2%		9%

Wealth
North America		$	191.7		$	189.5		$	186.3		$	186.8		$	188.9		1%		(1%)
International			124.6			123.3			122.4			123.1			129.2		5%		4%
Total		$	316.3		$	312.8		$	308.7		$	309.9		$	318.1		3%		1%
USPB		$	85.1		$	89.4		$	92.4		$	90.5		$	89.6		(1%)		5%
All Other
Legacy Franchises
Mexico Consumer		$	26.1		$	26.0		$	25.6		$	28.5		$	29.7		4%		14%
Mexico SBMM—corporate			8.5			8.1			9.7			9.9			10.9		10%		28%
Asia Consumer^(2)^			8.4			7.5			7.4			1.5			1.3		(13%)		(85%)
Legacy Holdings Assets (LHA)^(3)^			0.4			0.2			0.1			0.1			0.1		-		(75%)
Corporate/Other^(1)^			25.6			20.2			21.9			25.7			22.7		(12%)		(11%)
Total		$	69.0		$	62.0		$	64.7		$	65.7		$	64.7		(2%)		(6%)
Total deposits—EOP		$	1,310.0		$	1,284.5		$	1,316.4		$	1,357.7		$	1,383.9		2%		6%
Total deposits—average		$	1,311.1		$	1,320.4		$	1,305.0		$	1,342.8		$	1,382.2		3%		5%

(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 (through 1Q25) 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.

Page17

ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD

(In millions of dollars, except ratios)

																		Builds															ACLL/EOP
	Balance		Builds (Releases)										FY 2024		Balance			(Releases)											YTD 2025		Balance		Loans
	12/31/23		1Q24		2Q24		3Q24		4Q24		FY 2024		FX/Other		12/31/24		1Q25		****	2Q25		****	3Q25		****	****	YTD 2025		FX/Other^(1)^		9/30/25		9/30/25

Allowance for credit losses on loans (ACLL)
Services	$	397	$	34	$	(100)	$	7	$	(71)	$	(130)	$	(3)	$	264	$	24		$	53		$	(4)			$	73	$	7	$	344
Markets		820		120		(111)		37		167		213		(3)		1,030		48			53			(44)				57		12		1,099
Banking		1,376		(89)		(51)		62		(122)		(200)		(9)		1,167		78			137			38				253		25		1,445
Legacy Franchises corporate (Mexico SBMM & AFG^(2)^)		121		(8)		(12)		(3)		10		(13)		(13)		95		4			16			(12)				8		10		113
Total corporate ACLL	$	2,714	$	57	$	(274)	$	103	$	(16)	$	(130)	$	(28)	$	2,556	$	154		$	259		$	(22)			$	391	$	54	$	3,001	0.92%
U.S. Cards^(3)^	$	12,626	$	326	$	357	$	10	$	221	$	914	$	20	$	13,560	$	(169)		$	(12)		$	44			$	(137)	$	2	$	13,425	8.01%
Installment loans^(4)^		319		13		30		30		32		105		1		425		(5)			7			11				13		(1)		437
Retail Banking^(4)^		157		(2)		(5)		1		(7)		(13)		-		144		3			(1)			9				11		-		155	****
Total USPB	$	13,102	$	337	$	382	$	41	$	246	$	1,006	$	21	$	14,129	$	(171)		$	(6)		$	64			$	(113)	$	1	$	14,017	****
Wealth		767		(190)		(43)		8		(11)		(236)		(2)		529		61			(64)			(25)				(28)		7		508	****
All Other—consumer		1,562		(85)		11		58		102		86		(288)		1,360		58			54			28				140		180		1,680
Total consumer ACLL	$	15,431	$	62	$	350	$	107	$	337	$	856	$	(269)	$	16,018	$	(52)		$	(16)		$	67			$	(1)	$	188	$	16,205	4.07%
Total ACLL	$	18,145	$	119	$	76	$	210	$	321	$	726	$	(297)	$	18,574	$	102		$	243		$	45			$	390	$	242	$	19,206	2.65%
Allowance for credit losses on unfunded lending commitments (ACLUC)	$	1,728	$	(98)	$	(8)	$	105	$	(118)	$	(119)	$	(8)	$	1,601	$	108		$	(19)		$	100			$	189	$	30	$	1,820	****
Total ACLL and ACLUC (EOP)		19,873		21		68		315		203		607		(305)		20,175		210			224			145				579		272		21,026	****
Other^(5)^		1,883		14		107		160		131		412		(293)		2,002		34			388			74				496		254		2,752	****
Total allowance for credit losses (ACL)	$	21,756	$	35	$	175	$	475	$	334	$	1,019	$	(598)	$	22,177	$	244		$	612		$	219			$	1,075	$	526	$	23,778	****

(1)	Primarily includes FX translation on the EOP ACL balances.
(2)	See footnote 3 on page 16.
---	---
(3)	The December 31, 2024 ACLL balance includes approximately $20 million related to an acquired portfolio, which is also reflected in the FX/Other column in this table.
---	---
(4)	See footnote 5 on page 9.
---	---
(5)	Includes ACL activity on HTM securities and Other assets.
---	---

Reclassified to conform to the current period's presentation.

Page18

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

Page 1

(In millions of dollars)

																	3Q25 Increase/			****	Nine		****	Nine		****	YTD 2025 vs.
	****	3Q		****	4Q		****	1Q		****	2Q			3Q		****	(Decrease) from			****	Months		****	Months			YTD 2024 Increase/
	****	2024		****	2024		****	2025		****	2025			2025		****	2Q25	****	3Q24	****	2024		****	2025			(Decrease)

Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	****	$	18,216	****	$	18,356	****	$	18,574	****	$	18,726	****	$	19,123	****	2%		5%	****	$	18,145	****	$	18,574	****	2%
Gross credit (losses) on loans			(2,609)			(2,680)			(2,926)			(2,723)			(2,726)		-		(4%)			(8,014)			(8,375)		(5%)
Gross recoveries on loans			437			438			467			489			512		5%		17%			1,256			1,468		17%
Net credit (losses) / recoveries on loans (NCLs)			(2,172)			(2,242)			(2,459)			(2,234)			(2,214)		(1%)		2%			(6,758)			(6,907)		2%
Replenishment of NCLs			2,172			2,242			2,459			2,234			2,214		(1%)		2%			6,758			6,907		2%
Net reserve builds / (releases) for loans			210			321			102			243			45		(81%)		(79%)			405			390		(4%)
Provision for credit losses on loans (PCLL)	****		2,382	****	****	2,563	****	****	2,561	****	****	2,477	****	****	2,259	****	(9%)		(5%)	****		7,163	****	****	7,297	****	2%
Other, net^(1)(2)(3)(4)(5)(6)^	****		(70)	****	****	(103)	****	****	50	****	****	154	****	****	38	****	(75%)		NM	****		(194)	****	****	242	****	NM
ACLL at end of period (a)	****	$	18,356		$	18,574	****	$	18,726	****	$	19,123		$	19,206		-		5%	****	$	18,356	****	$	19,206		5%
	****			****	****		****	****		****	****		****	****		****				****			****	****		****
Allowance for credit losses on unfunded lending commitments (ACLUC)^(7)^ (a)	****	$	1,725	****	$	1,601	****	$	1,720	****	$	1,721	****	$	1,820	****	6%		6%	****	$	1,725	****	$	1,820	****	6%
	****			****	****		****	****		****	****		****	****		****				****			****	****		****
Provision (release) for credit losses on unfunded lending commitments	****	$	105		$	(118)		$	108		$	(19)		$	100	****	NM	****	(5%)	****	$	(1)		$	189		NM
	****			****	****		****	****		****	****		****	****		****		****		****			****	****		****
Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	****	$	20,081	****	$	20,175	****	$	20,446	****	$	20,844	****	$	21,026	****	1%	****	5%	****	$	20,081	****	$	21,026	****	5%

Total ACLL as a percentage of total loans^(8)^			2.70%			2.71%			2.70%			2.67%			2.65%		(2) bps		(5) bps
	****			****	****		****	****		****	****		****	****		****		****		****			****	****		****
Consumer
ACLL at beginning of period	****	$	15,732	****	$	15,765	****	$	16,018	****	$	16,001	****	$	16,100	****	1%	****	2%	****	$	15,431	****	$	16,018	****	4%

NCLs			(2,098)			(2,191)			(2,277)			(2,185)			(2,122)		(3%)		1%			(6,412)			(6,584)		3%
Replenishment of NCLs			2,098			2,191			2,277			2,185			2,122		(3%)		1%			6,412			6,584		3%
Net reserve builds / (releases) for loans			107			337			(52)			(16)			67		NM		(37%)			519			(1)		NM
Provision for credit losses on loans (PCLL)	****		2,205	****	****	2,528	****	****	2,225	****	****	2,169	****	****	2,189	****	1%	****	(1%)	****		6,931	****	****	6,583	****	(5%)
Other, net^(1)(2)(3)(4)(5)(6)^			(74)			(84)			35			115			38		(67%)		NM			(185)			188		NM
ACLL at end of period (b)	****	$	15,765	****	$	16,018	****	$	16,001	****	$	16,100	****	$	16,205	****	1%	****	3%	****	$	15,765	****	$	16,205	****	3%

Consumer ACLUC^(7)^ (b)	****	$	39	****	$	34	****	$	31	****	$	24	****	$	20	****	(17%)		(49%)	****	$	39	****	$	20	****	(49%)

Provision (release) for credit losses on unfunded lending commitments	****	$	(4)		$	(2)		$	(3)		$	(1)		$	(4)		(300%)	****	-	****	$	(23)		$	(8)		65%

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	****	$	15,804	****	$	16,052	****	$	16,032	****	$	16,124	****	$	16,225	****	1%	****	3%	****	$	15,804	****	$	16,225	****	3%

Consumer ACLL as a percentage of total consumer loans			4.05%			4.08%			4.14%			4.07%			4.07%		0 bps		2 bps

Corporate
ACLL at beginning of period	****	$	2,484	****	$	2,591	****	$	2,556	****	$	2,725	****	$	3,023	****	11%	****	22%	****	$	2,714	****	$	2,556	****	(6%)

NCLs			(74)			(51)			(182)			(49)			(92)		88%		24%			(346)			(323)		(7%)
Replenishment of NCLs			74			51			182			49			92		88%		24%			346			323		(7%)
Net reserve builds / (releases) for loans			103			(16)			154			259			(22)		NM		NM			(114)			391		NM
Provision for credit losses on loans (PCLL)	****		177	****	****	35	****	****	336	****	****	308		****	70	****	(77%)	****	(60%)	****		232	****	****	714	****	208%
Other, net^(1)^			4			(19)			15			39			-		(100%)		(100%)			(9)			54		NM

ACLL at end of period (c)	****	$	2,591	****	$	2,556	****	$	2,725	****	$	3,023	****	$	3,001	****	(1%)	****	16%	****	$	2,591	****	$	3,001	****	16%

Corporate ACLUC^(7)^ (c)	****	$	1,686	****	$	1,567	****	$	1,689	****	$	1,697	****	$	1,800	****	6%	****	7%	****	$	1,686	****	$	1,800	****	7%

Provision (release) for credit losses on unfunded lending commitments	****	$	109		$	(116)		$	111		$	(18)		$	104	****	NM	****	(5%)	****	$	22		$	197	****	NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	****	$	4,277	****	$	4,123	****	$	4,414	****	$	4,720	****	$	4,801	****	2%	****	12%	****	$	4,277	****	$	4,801	****	12%

Corporate ACLL as a percentage of total corporate loans^(9)^			0.89%			0.87%			0.89%			0.94%			0.92%		(2) bps		3 bps

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

Page19

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 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.
(2)	3Q24 primarily relates to FX translation.
---	---
(3)	4Q24 primarily relates to FX translation.
---	---
(4)	1Q25 primarily relates to FX translation.
---	---
(5)	2Q25 includes an approximate $25 million reclass related to Citi's agreement to sell its Poland consumer banking business. That ACLL was transferred to Other assets beginning June 30, 2025. 2Q25 also includes FX translation.
---	---
(6)	3Q25 primarily relates to FX translation.
---	---
(7)	Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.
---	---
(8)	Excludes loans that are carried at fair value of $8.1 billion, $8.0 billion, $8.2 billion, $9.3 billion, and $7.9 billion at September 30, 2024, December 31, 2024, March 31, 2025, June 30, 2025, and September 30, 2025, respectively.
---	---
(9)	Excludes loans that are carried at fair value of $7.8 billion, $7.8 billion, $7.9 billion, $9.2 billion, and $7.9 billion at September 30, 2024, December 31, 2024, March 31, 2025, June 30, 2025, and September 30, 2025, respectively.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page20

NON-ACCRUAL ASSETS

(In millions of dollars)

																	3Q25 Increase/
		3Q			4Q			1Q			2Q			3Q			(Decrease) from
	****	2024		****	2024		****	2025		****	2025		****	2025		****	2Q25	****	3Q24

Corporate non-accrual loans by region^(1)^
North America		$	459		$	757		$	822		$	953		$	1,280		34%		179%
International			485			620			554			769			791		3%		63%
Total	****	$	944	****	$	1,377	****	$	1,376	****	$	1,722	****	$	2,071	****	20%	****	119%
Corporate non-accrual loans by segment and component^(1)^
Banking		$	348		$	498		$	510		$	502		$	820		63%		136%
Services			96			65			110			134			187		40%		95%
Markets			390			715			631			932			926		(1%)		137%
Mexico SBMM & AFG			110			99			125			154			138		(10%)		25%
Total	****	$	944	****	$	1,377	****	$	1,376	****	$	1,722	****	$	2,071	****	20%	****	119%
Consumer non-accrual loans^(1)^
Wealth		$	284		$	404		$	415		$	637		$	583		(8%)		105%
USPB			292			290			305			329			325		(1%)		11%
Mexico Consumer			415			411			416			485			526		8%		27%
Asia Consumer^(2)^			21			19			20			16			16		-		(24%)
Legacy Holdings Assets—Consumer			210			186			172			165			157		(5%)		(25%)
Total	****	$	1,222	****	$	1,310	****	$	1,328	****	$	1,632	****	$	1,607	****	(2%)	****	32%
Total non-accrual loans (NAL)	****	$	2,166	****	$	2,687	****	$	2,704	****	$	3,354	****	$	3,678	****	10%	****	70%
Other real estate owned (OREO)^(3)^	****	$	25	****	$	18	****	$	21	****	$	26	****	$	29	****	12%	****	16%
NAL as a percentage of total loans			0.31%			0.39%			0.39%			0.46%			0.50%		4 bps		19 bps
ACLL as a percentage of NAL			847%			691%			693%			570%			522%

(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 (through 1Q25) 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.

Page21

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)

																	Nine			Nine
		September 30,			December 31,			March 31,			June 30,			September 30,			Months			Months
CET1 Capital and Ratio and Components^(1)^	****	2024		****	2024		****	2025		****	2025		****	2025^(2)^		****	2024		****	2025

Citigroup common stockholders’ equity^(3)^		$	192,796		$	190,815		$	194,125		$	196,931		$	194,038
Add: qualifying noncontrolling interests			168			186			192			200			200
Regulatory capital adjustments and deductions:
Add:
CECL transition provision^(4)^			757			757			-			-			-
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax			(773)			(220)			(213)			(141)			(116)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax			(906)			(910)			(32)			(408)			(1,443)
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)^(5)^			18,397			17,994			18,122			18,524			17,876
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs			3,061			3,357			3,291			3,236			3,169
Defined benefit pension plan net assets and other			1,447			1,504			1,532			1,610			1,725
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards^(6)^			11,318			11,628			11,517			11,163			10,807
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs^(6)(8)^			3,071			3,042			4,261			4,204			3,759
CET1 Capital		$	158,106		$	155,363		$	155,839		$	158,943		$	158,461
Risk-Weighted Assets (RWA)^(4)^		$	1,153,150		$	1,139,988		$	1,162,306		$	1,178,756		$	1,197,575
CET1 Capital ratio (CET1/RWA)			13.71%			13.63%			13.41%			13.48%			13.2%

Supplementary Leverage Ratio and Components
CET1^(4)^		$	158,106		$	155,363		$	155,839		$	158,943		$	158,461
Additional Tier 1 Capital (AT1)^(7)^			17,682			19,164			19,675			17,676			20,311
Total Tier 1 Capital (T1C) (CET1 + AT1)		$	175,788		$	174,527		$	175,514		$	176,619		$	178,772
Total Leverage Exposure (TLE)^(4)^		$	3,005,709		$	2,985,418		$	3,033,450		$	3,195,323		$	3,238,996
Supplementary Leverage ratio (T1C/TLE)^(4)^			5.85%			5.85%			5.79%			5.53%			5.5%

Tangible Common Equity, Book Value and Tangible Book Value Per Share
Common stockholders’ equity		$	192,733		$	190,748		$	194,058		$	196,872		$	193,973
Less:
Goodwill			19,691			19,300			19,422			19,878			19,126
Intangible assets (other than MSRs)			3,438			3,734			3,679			3,639			3,582
Goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS			16			16			16			16			-
Tangible common equity (TCE)^(9)^		$	169,588		$	167,698		$	170,941		$	173,339		$	171,265
Common shares outstanding (CSO)			1,891.3			1,877.1			1,867.7			1,840.9			1,789.3
Book value per share (common equity/CSO)		$	101.91		$	101.62		$	103.90		$	106.94		$	108.41
Tangible book value per share (TCE/CSO)^(9)^		$	89.67		$	89.34		$	91.52		$	94.16		$	95.72

Average TCE (in billions of dollars)^(9)^
Services		$	24.9		$	24.9		$	24.7		$	24.7		$	24.7		$	24.9		$	24.7
Markets			54.0			54.0			50.4			50.4			50.4			54.0			50.4
Banking			21.8			21.8			20.6			20.6			20.6			21.8			20.6
Wealth			13.2			13.2			12.3			12.3			12.3			13.2			12.3
USPB			25.2			25.2			23.4			23.4			23.4			25.2			23.4
All Other			29.2			29.5			37.9			40.7			40.9			27.4			39.4
Total Citi average TCE		$	168.3		$	168.6		$	169.3		$	172.1		$	172.3		$	166.5		$	170.8
Plus:
Average goodwill		$	19.6		$	19.4		$	18.8		$	19.8		$	19.6		$	19.4		$	19.4
Average intangible assets (other than MSRs)			3.5			3.6			3.7			3.7			3.6			3.7			4.1
Average goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS			-			-			-			-			-			-			-
Total Citi average common stockholders’ equity (in billions of dollars)		$	191.4		$	191.6		$	191.8		$	195.6		$	195.5		$	189.6		$	194.3

(1)	See footnote 3 on page 1.
(2)	September 30, 2025 is preliminary.
---	---
(3)	Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.
---	---
(4)	See footnote 4 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 temporary 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. Page22

Citigroup Inc._October 14, 2025


			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 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
Medium-Term Senior Notes, Series N, Floating Rate Notes Due March 21, 2029 of CGMHI (and registrant’s guaranty with respect thereto)	C/29A	MTN, Series N, Floating Rate Notes Due Mar 2029 of CGMHI (and registrant’s guaranty)	New York Stock Exchange