1、Earnings Results PresentationSecond Quarter 2024July 12,2024Be the preeminent banking partner for institutions with cross-border needs,a global leader in wealth management and a valued personal bank in our home marketOur VisionDelivering on our Investor Day prioritiesBuild winning cultureInvest in t

2、alentDeliver One Citi Focus on five core interconnected businessesExit 14 international consumer markets(1)Simplify the organization and management structure#1 priorityRelentless executionRegulatory remediationModernize infrastructure Data enhancementsTransformationSimplificationCulture and TalentMa

3、ximize unique global networkGrow Commercial Banking client sectorScale WealthTarget share gains in Banking,Markets and U.S.Personal BankingInvest for GrowthElements of our StrategyOur strategy and path forward remains unchanged2Note:All footnotes are presented starting on Slide 33.The Office of the

4、Comptroller of the Currency(OCC)has issued a civil money penalty to Citibank,N.A.(CBNA)in the amount of$75.0 million,as it has deemed that CBNA is behind on its data quality management on regulatory reporting specifically related to Consent Order,requiring:Citi to formalize a process to determine wh

5、ether sufficient resources are being appropriately allocated towards achieving timely and sustainable compliance with the 2020 Consent Order,including any requirements on which CBNA is not making sufficient and sustainable progress.This is While the Resource Review Plan is being finalized,CBNA will

6、need to ensure the OCC has no objection to payment of intercompany dividends from CBNA ultimately to Citigroup above amounts necessary for Citigroup debt service,preferred dividends,and other non-discretionary obligationsOCC oversees bankThe Fed and OCC announcement on Wednesday,July 10,2024 3Citigr

7、oup Inc.(Bank Holding Company)Citigroup Global Markets Holdings Inc.(CGMHI)Citigroup Global Markets Inc.(CGMI)Citigroup Global Markets Ltd.(CGML)Banco Nacional de Mexico,S.A.(Banamex)Citibank,N.A.(CBNA)(CBNA H.O.)(2)Citigroup Global Markets Japan Inc.(CGMJ)Citigroup(Parent)will have no restrictions

8、to pay common dividends to shareholders and have no restrictions to repurchase common stock from shareholders While the Resource Review Plan is being finalized,CBNA,which is an operating entity of Citigroup,will need to ensure OCC does not object to CBNA paying an intercompany dividend ultimately to

9、 Citigroup beyond a certain thresholdThere are no restrictions on intercompany dividends paid to Citigroup by other operating entitiesIHCBHCOperating MLE(3)Certain intermediate Holding Companies are not included in the chartCiticorp LLC(Intermediate Holding Company)ABCFRB oversees ParentABCCC(1)Note

10、:All footnotes are presented starting on Slide 33.The Federal Reserve Board(FRB)has issued a civil money penalty to Citigroup Inc.(Citigroup)in the amount of$60.6 million.It has deemed that Citi is delayed in completing milestones included in its approved plan related to its data quality management

11、program and has inadequate measures for managing and controlling its data quality risks.These milestones are related to the FRB 2020 Consent OrderTransformationStrategic ExecutionOrganization,Culture and TalentContinued to simplify our technology infrastructure,retiring almost 300 applications YTD a

12、nd over 1,000 since 2022Continued the rollout of our strategic loan servicing platformConsolidated our two forecasting platforms into a single system,allowing us to accelerate the cycle time for our quarterly forecasting processBuilt automated capabilities,systematic reporting,and enhanced controls

13、to increase the frequency of anomalous trade monitoring to dailyLaunched a Generative AI production pilot to simplify access to our policy landscape for our employeesSuccessfully implemented market mandatory transition to T+1 Settlement Cycle in select markets,reducing risk and improving liquidity u

14、sage for trades across Services,Markets and WealthUpgraded all 2,100 North America ATMs to next-gen software for better customer security and monitoring,enabling card-tap for easier transactionsStrategy:Continued Services momentum driven by client activity and new wins particularly in Payments and I

15、ssuer Services as well as CCB clients.Citi named the Best Trade Finance Bank by Global Trade Review(1)Strong Markets performance despite lower macro volatility,reflecting diverse business mix and outperformance in Equity Derivatives and Spread ProductsIn Banking,gained wallet share YTD(2)in almost e

16、very subproduct.Launched the CCB in JapanWealth saw an acceleration in investment revenue growth and positive operating leverage from sharpened focus and structural changesContinued revenue momentum and product innovation in USPB,including launch of new Citi Strata Premier Card targeting the mass af

17、fluent/affluent spaceProgress on divestitures:Sale and migration of all China portfolios completed in early ChinaWind-downs ahead of plan in Korea and RussiaVis Raghavan joined to lead our unified Banking organizationTim Ryan joined as the new Head of Technology and Business Enablementincreasing the

18、 length of paid leave available to all new parents.To be rolled out globally over timeAdditionally,introduced new Caregiver Leave which provides U.S.employees up to two-weeks paid leave to care for an immediate family member with a serious health conditionDrive Revenue GrowthDisciplined Expense Mana

19、gement Executing with Excellence Across All Priorities To Unlock the Value of CitiMaintain Robust Capital and LiquidityImprove Returns Over the Medium-Term4Progress against our priorities in second quarter 2024Note:All footnotes are presented starting on Slide 33.Positive operating leverageNIR up 13

20、%YoY on investment asset growth and market performance Client investment assets(9)up 15%YoY Client balances(10)up 9%YoYRevenues2Q24$20.1 billion 2Q234%Net Income2Q24$3.2 billion 2Q2310%EPS2Q24$1.52 2Q2314%RoTCE(1)2Q247.2%2Q236.4%CET1 Capital Ratio(2)2Q2413.6%2Q2313.4%Tangible Book Value Per Share(3)

21、2Q24$87.53 2Q233%Continued momentum TTS:Increased marketshare to 10.3%(4)Cross border transaction value up 6%YoY(5)Securities Services:Gained 130bps of market share in 1Q24 compared to FY2023(6)Positive operating leverageRevenue growth of 6%YoY with lower expense Interest-earning balances up 9%YoY i

22、n Branded Cards and up 8%YoY in Retail Services Branded Cards and Retail Services revenues up 8%YoY and 6%YoY,respectively5Positive operating leverageStrong performance in Spread Products Spread Products and Other Fixed Income up 20%YoYStrength in Equity Derivatives and continued growth in Prime Pri

23、me balances(7)up 18%YoYPositive operating leverageContinued share gains of a recovering IB wallet(8)DCM Fees up 90%YoY,led by gains in Investment Grade issuance Advisory Fees up 72%YoYServicesMarketsBankingUSPBWealthReturned$1.0 billion in capital to common shareholders through dividendsSecond Quart

24、er Key HighlightsNote:All footnotes are presented starting on Slide 33.Second quarter 2024 results snapshotRevenues Increased 4%YoY,driven by growth across all businesses,as well as an approximate$400 million gain related to the Visa B exchange completed in 2Q24.Excluding divestiture-related impacts

25、,revenues were up 3%(4)Expenses Down(2)organizational simplification,stranded cost reductions and lower repositioning costs,partially offset by continued investments in transformation and civil money penalties imposed by the FRB and the OCC(5).Excluding divestiture-related impacts,expenses were also

26、 down(2)%(6)Credit Costs$2.5 billion,driven by NCLs of$2.3 billion and an ACL build of$0.2 billion,primarily driven by card loan growth At the end of the quarter,Citi had nearly$22 billion in total reserves with a reserve-to-funded loans ratio of approximately 2.7%Net Income-$3.2 billion,as higher r

27、evenues and lower expenses more than offset higher cost of credit($in MM,except EPS)2Q24%QoQ%YoYYTD 24%YoYNet Interest Income13,493-(3)%27,000(1)%Non-Interest Revenue6,646(13)%20%14,2434%Total Revenues20,139(5)%4%41,2431%Expenses13,353(6)%(2)%27,5483%NCLs2,283(1)%52%4,58663%ACL Build and Other(1)193

28、NM(40)%255(74)%Credit Costs2,4765%36%4,84127%EBT 4,310(5)%7%8,854(13)%Income Taxes1,047(8)%(4)%2,183(17)%Net Income3,217(5)%10%6,588(12)%Net Income to Common(for diluted EPS purposes)2,962(3)%14%6,024(13)%Diluted EPS$1.52(4)%14%$3.10(12)%Efficiency Ratio(in bps)66%(100)(350)67%110 ROE6.3%6.5%RoTCE(2

29、)7.2%7.4%CET1 Capital Ratio(3)13.6%Financial Results2Q24 Financial Overview Highlights6Financial results overviewNote:Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.$13.5B$13.4B$14.2B$13.8B$13.2B2Q233Q234Q231Q242Q24Expenses ex-Divestitures&FDIC special assessment

30、(1,2)Reported Expenses$13.6B$14.2B$13.4B$13.5B$16.0BExpense TrendNote:Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.7Quarterly expense trend and 2024 outlookRestructuring-$0.8B$0.2B$0.0BRepositioning$0.2B$0.2B$0.1B$0.3B$0.0BCivil Money Penalties(3)-$0.1B($in B)R

31、ecent Expense Driversinfrastructure,automate manual processes and enhance data and analytics TransformationInvestmentsGrowth driven by marketing,transaction-related expenses and incentive compensation tied to revenue growth across certain businesses Volume-relatedInvestments in product innovation,fr

32、ont office talent,technology and platforms to drive revenue growth Business-led InvestmentsGrowth driven by risk and control enhancements,investments in technology,including cyber and cloud,and macro factors such as inflation Structural/OtherCiti expects FY24 expenses to be in line with$53.5B-53.8B

33、ex-FDIC special assessment and Civil Money Penalties(4)albeit likely at the higher end Includes:Transformation of this magnitude is always a multi-year journey and never linear.We are actively addressing areas of focus Examples of progress to dateTransformation will unlock value as we continue to el

34、iminate manual processes and modernize our platformsNear-term areas of focus Built greater efficiency and scale in the risk management of our Global Spread Products business with 99%of risk computations now on cloud-based infrastructure Implemented automated controls representing 80%+of transaction

35、volumes across Markets to reduce manual trade entry errors Improved Risk Management Improved resiliency and reduced downtime by simplifying system restoration to a single click for 30%of our critical applications,as of 2Q24(1)Optimizing virtual workloads to reduce data center footprint and lower ope

36、rational costsResiliency Retired 4%of our applications in 1H24 Consolidating 20 cash equities platforms to one single modern platform As of 2Q24,reduced the time to book new or amended loans in North America by over 50%Simplification Intensifying efforts to automate certain regulatory processes and

37、address data quality management related to regulatory reporting and data governance Further strengthening our CCAR and DFAST and Resolution and Recovery capabilities and processes Committed to making the necessary investments in our risk and control environmentOur Transformation is setting the stage

38、 for future successNote:All footnotes are presented starting on Slide 33.876 79 81 77 71 838 821 827 833 830 424 415 412 416 409$1,338$1,315$1,320$1,326$1,3102Q233Q234Q231Q242Q24286 287 294 297 296 368 376 380 382 383$654$662$675$679$680 2Q233Q234Q231Q242Q2411.9012.1311.8311.8011.462.001.701.991.712

39、.04$13.90$13.83$13.82$13.51$13.492.48%2.49%2.46%2.42%2.41%2Q233Q234Q231Q242Q24NII ex-Markets(1)Net Interest IncomeCitigroup NIMMarkets NII9Average LoansAverage DepositsCorporateConsumerCorporateConsumerAll OtherGross Loan Yield(2)Cost of Interest-Bearing Deposits(3)8.63%9.02%9.12%9.22%9.17%3.09%3.41

40、%3.61%3.70%3.71%YoYQoQNote:Totals may not sum due to rounding.Excludes discontinued operations.NIM(Net Interest Margin)(%)includes the taxable equivalent adjustment(based on the U.S.federal statutory tax rate of 21%in all periods).Consumer loans includes USPB,Wealth and Legacy excluding Mexico SBMM.

41、Consumer deposits includes USPB and Wealth.Corporate loans includes Services,Markets,Banking and Mexico SBMM.All footnotes are presented starting on Slide 33.($in B)4%0%3%0%4%0%YoYQoQ(4)%(2)%(1)%0%(2)%(1)%(7)%(8)%Net interest income,average loans and depositsQoQYoY$(0.01)$(0.41)$0.33$0.04$(0.34)$(0.

42、44)17%17%18%83%83%82%2Q231Q242Q2413%15%14%87%85%86%2Q231Q242Q2433%32%32%67%68%68%2Q231Q242Q242Q231Q242Q24EOP Corporate Loans$286$293$302NCLs$0.1$0.2$0.1%of Avg Loans0.1%0.2%0.1%NALs$1.3$1.5$1.0%of Loans0.4%0.5%0.3%ACLL/EOP Loans(2)0.9%1.0%0.8%U.S.Cards LoansCorporate Lending Exposure($in B)By Region

43、By Grade RatingEOP Loans by SegmentEOP Loans by FICO Score(1)10International ExposureKey Corporate Lending Exposure MetricsKey U.S.Cards Loan MetricsTotal EOP Consumer Loans:$386Total Exposure:$719 IGNon-IGBranded CardsRetail Services 660660Note:Totals may not sum due to rounding.All information for

44、 2Q24 is preliminary.All footnotes are presented starting on Slide 33.U.S.cards and corporate credit overview2Q231Q242Q24EOP Card Loans$153$159$164NCLs$1.2$1.8$1.9%of Avg Loans3.1%4.5%4.7%90+Days Past Due(DPD)1.1%1.6%1.5%ACLL/EOP Loans7.9%8.2%8.1%IG/MNCs or subsidiaries,90%Other,10%International43%U

45、.S.57%2092072092752852801201031081,3201,3071,278500529530$2,424$2,433$2,406 2Q231Q242Q24155 151 153 643 656 670 821 837 829 507 515 508 297 273 246$2,424$2,433$2,406 2Q231Q242Q242Q231Q242Q24AFS Securities(Duration:2 Years)$237$255$249 HTM Securities(Duration:3 Years)262 252 251 Tangible Book Value P

46、er Share(4)85.34 86.67 87.53 Corporate Deposits(EOP)820 812 807 Consumer Deposits(EOP)421 420 404 All Other Deposits(EOP)80 76 67 2Q231Q242Q24Liquidity Coverage Ratio119%117%117%Average HQLA584552542Total Available Liquidity Resources(3)9939658992Q231Q242Q24Supplementary Leverage Ratio(2)6.0%5.8%5.9

47、%2Q231Q242Q24CET1 Capital154 153 154 Standardized RWA1,1531,1391,136CET1 Capital Ratio-Standardized13.4%13.5%13.6%Advanced RWA1,2511,2811,269CET1 Capital Ratio-Advanced12.3%12.0%12.2%Balance SheetLiquidity MetricsLeverage-based Capital MetricsNote:Totals may not sum due to rounding.All information f

48、or 2Q24 is preliminary.Consumer deposits includes USPB and Wealth.Corporate deposits includes Services,Markets are included in All Other Deposits which comprises of Corporate/Other and Legacy Franchises.All footnotes are presented starting on Slide 33.End of Period AssetsEnd of Period Liabilities an

49、d EquityCashInvestments,net(5)Trading-Related Assets(6)Loans,net(7)Other Assets(8)Trading-Related Liabilities(9)Other Liabilities(10)Long Term DebtEquityRisk-based Capital Metrics(1)($in B,except per share data)YoYYoYDepositsCapital and balance sheet overview11QoQ(1)%(1)%(17)%(10)%0%(1)%1%(1)%4%2%(1

50、)%1%(1)%(1)%6%0%(10)%5%2%(2)%(0)%1%QoQ(3)%(2)%13.5%26 bps(9)bps(3)bps13.6%1Q24Net Incometo CommonCapitalDistributionDTA,RWA&Other2Q244.5%4.5%4.5%4.5%3.5%3.5%3.5%3.5%4.0%4.3%4.3%4.1%1.4%1.3%13.4%13.6%12.3%12.1%2Q232Q24CurrentRequirementAs of October 1(preliminary)Note:Totals may not sum due to roundi

51、ng.All information for 2Q24 is preliminary.All footnotes are presented starting on Slide 33.Key drivers resulting in CET1 Capital ratio of 13.6%(1)Strength in earnings Reduction in RWA Partially offset by:Capital distribution in the form of common dividendsFX impact from USD appreciationWell capital

52、ized today with a CET1 Capital ratio of 13.6%,which is includes a 100bps management bufferDecreased regulatory requirement:In October 2024,regulatory capital requirement is expected to decrease to 12.1%,driven by the indicative Stress Capital Buffer decrease from 4.3%to 4.1%Effective Regulatory Requ

53、irement12Standardized CET1 Capital ratio overview(1)(2)Regulatory MinimumStress Capital BufferGSIB SurchargeManagement Buffer and ExcessActual2Q24 QoQ Standardized CET1 Capital Ratio WalkCET1 Standardized Regulatory Requirement(1)($in B,unless otherwise noted)2Q24%QoQ%YoYTreasury and Trade Solutions

54、Average Loans810%3%Average Deposits677(1)%(2)%Cross Border Transaction Value(4)932%6%US Dollar Clearing Volume(#MM)(5)425%7%Commercial Card Spend Volume(6)187%4%Securities ServicesAverage Deposits1272%2%Preliminary AUC/AUA($T)(7)241%9%($in B,unless otherwise noted)2Q24%QoQ%YoYAllocated Average TCE(2

55、)25-8%RoTCE(3)23.8%Efficiency Ratio(in bps)58%200 300 Average Loans82-3%EOP Loans8910%6%Average Deposits804-(1)%EOP Deposits783(1)%(2)%Memo:($in MM)Net Interest Income3,225(3)%(1)%Non-Interest Revenue1,455-11%($in MM)2Q24%QoQ%YoYNet Interest Income2,629(3)%(3)%Non-Interest Revenue8021%14%Treasury an

56、d Trade Solutions3,431(2)%-Net Interest Income596-14%Non-Interest Revenue653-7%Securities Services1,249-10%Total Revenues4,680(2)%3%Expenses2,7343%9%NCLs0(100)%(100)%ACL Build(Release)and Other(1)(27)NMNMCredit Costs(27)NMNMEBT 1,973(3)%8%Net Income1,471(1)%21%HighlightsServices results,key metrics

57、and statisticsRevenues Up 3%YoY,primarily reflecting strength in Securities Services,as well as the impact of continued underlying momentum in TTS NII decreased(1)%,largely driven by lower revenue from the net investment in Argentina,partially offset by the benefit of higher interest rates NIR incre

58、ased 11%on continued strength across underlying fee drivers,as well as a smaller impact from currency devaluation in Argentina Expenses Up 9%YoY,largely driven by an Argentina-related transaction tax expense,a legal settlement expense and continued investments in product innovation and technology Cr

59、edit Costs Benefit of$(27)million,largely driven by an ACL release in the quarter,primarily due to an improved macroeconomic outlook Net Income$1.5 billion,up 21%YoYRoTCE(3)of 23.8%;Year-to-date RoTCE(3)of 23.9%Financial ResultsKey Metrics and StatisticsKey Metrics and Statistics Detail by BusinessN

60、ote:Services includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with BankingCorporate Lending for Investment Banking,Markets and Services products sold to Corporate Lending clients.Totals may not sum due to rounding.Preliminary AUC/AUA reflects prior-period revis

61、ions for certain AUC North America accounts.All footnotes are presented starting on Slide 33.13($in MM)2Q222Q23 3Q23 4Q231Q242Q24%QoQ%YoYMarkets RevenuesFixed Income markets4,2713,670 3,806 2,5474,1303,564(14)%(3)%Equity markets1,2201,1099428191,2271,52224%37%Total Markets Revenues5,4914,779 4,748 3

62、,366 5,357 5,086(5)%6%($in B,unless otherwise noted)2Q24%QoQ%YoYAllocated Average TCE(2)54-2%RoTCE(3)10.7%Efficiency Ratio(in bps)65%200 (500)Average Trading Account Assets4264%12%Average Total Assets1,0642%2%Average Loans119(1)%11%Average VaR(4)($in MM)(99%confidence level)113(27)%(16)%($in MM)2Q24

63、%QoQ%YoYRates and currencies2,466(12)%(11)%Spread products/other fixed income1,098(17)%20%Fixed Income markets3,564(14)%(3)%Equity markets1,52224%37%Total Revenues5,086(5)%6%Expenses3,305(2)%(1)%NCLs66(15)%NMACL Build(Release)and Other(1)(77)NMNMCredit Costs(11)NM35%EBT 1,7921%24%Net Income1,4433%29

64、%14Markets results,key metrics and statisticsRevenues Up 6%YoY,driven by Equity markets(up 37%),partially offset by a(3)%decline in Fixed Income markets The decline in Fixed Income markets was driven by rates and currencies,down(11)%on lower volatility and tighter spreads,partially offset by strengt

65、h in spread products and other fixed income Equity markets benefited from growth across equity derivatives,which included a gain related to the Visa B exchange completed in 2Q24.Equities also benefitted from strong growth in prime balances,up approximately 18%YoYExpenses Down(1)%YoY,driven by produc

66、tivity savings,partially offset by higher volume-related expensesCredit Costs Benefit of$(11)million,as an ACL release,primarily driven by changes in portfolio composition combined with an improved macroeconomic outlook,was partially offset by net credit lossesNet Income$1.4 billion,up 29%YoYRoTCE(3

67、)of 10.7%;Year-to-date RoTCE(3)of 10.6%HighlightsFinancial ResultsKey Metrics and StatisticsNote:Markets includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with BankingCorporate Lending for Investment Banking,Markets and Services products sold to Corporate Lendin

68、g clients.Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.Revenue Detail by Business($in MM)2Q22 2Q23 3Q23 4Q23 1Q242Q24%QoQ%YoYInvestment BankingAdvisory34515629928623026817%72%Equity Underwriting1811581231101711742%10%Debt Underwriting318259272310571493(14)%90%I

69、nvestment Banking fees844573694706972935(4)%63%($in B,unless otherwise noted)2Q24%QoQ%YoYAllocated Average TCE(3)22-2%RoTCE(4)7.5%Efficiency Ratio(in bps)70%200 NMAverage Loans89-(4)%EOP Loans87(1)%(3)%NCL Rate(in bps)0.18%(12)(7)Memo:($in MM)Net Interest Income527(9)%(3)%Non-Interest Revenue1,100(5

70、)%73%($in MM)2Q24%QoQ%YoYInvestment Banking853(8)%60%Corporate Lending(ex-gain/(loss)(1)765(16)%7%Gain/(loss)on loan hedges9NMNMCorporate Lending(incl.gain/(loss)774(5)%20%Total Revenues1,627(6)%38%Expenses1,131(4)%(10)%NCLs40(39)%(30)%ACL Build(Release)and Other(2)(72)63%65%Credit Costs(32)75%78%EB

71、T 528(23)%NMNet Income406(23)%NMHighlights15Banking results,key metrics and statisticsFinancial ResultsRevenues Up 38%YoY,driven by growth in Investment Banking and Corporate Lending Investment Banking revenues increased 60%,driven by strength across DCM,ECM and Advisory Corporate Lending(ex-gain/lo

72、ss on loan hedges(1)up 7%,largely driven by higher revenue shareExpenses Down(10)%YoY,primarily driven by benefits from prior repositioning and other actions taken to right-size the expense baseCredit Costs Benefit of$(32)million,as the ACL release,primarily driven by an improved macroeconomic outlo

73、ok,was partially offset by net credit lossesNet Income$406 million RoTCE(4)of 7.5%;Year-to-date RoTCE(4)of 8.6%Key Metrics and StatisticsInvestment Banking Fees Detail by BusinessNote:Banking includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with BankingCorporat

74、e Lending for Investment Banking,Markets and Services products sold to Corporate Lending clients.Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.($in MM)2Q22 2Q23 3Q23 4Q231Q242Q24%QoQ%YoYWealthPrivate Bank7586056175425716117%1%Wealth at Work1702242342111811958%(1

75、3)%Citigold9689479809119411,0087%6%Total Wealth Revenues1,896 1,7761,831 1,664 1,6931,8147%2%($in B,unless otherwise noted)2Q24%QoQ%YoYAllocated Average TCE(2)13-(1)%RoTCE(3)6.4%Efficiency Ratio(in bps)85%(1,200)(600)Average Loans1500%0%EOP Loans1501%(1)%Average Deposits(4)3160%2%EOP Deposits(4)318(

76、1)%3%Client Investment Assets(5)5405%15%Client Balances(6)1,0083%9%Estimated NNA(excludes USPB transfers)(7)(4)NMNMMemo:($in MM)Net Interest Income1,0477%(4)%Non-Interest Revenue7678%13%($in MM)2Q24%QoQ%YoYPrivate Bank6117%1%Wealth at Work1958%(13)%Citigold1,0087%6%Total Revenues1,8147%2%Expenses1,5

77、42(6)%(4)%NCLs3521%52%ACL Build(Release)and Other(1)(44)78%NMCredit Costs(9)95%NMEBT 28127%NMNet Income21020%NMHighlights16Wealth results,key metrics and statisticsRevenues Up 2%YoY,driven by an 13%increase in NIR from higher investment fee revenues,partially offset by a 4%decrease in NII from highe

78、r mortgage funding costsExpenses Down(4)%YoY,driven by benefits from prior repositioning and restructuring actions as Wealth continued to right-size its expense base,resulting in positive operating leverageCredit Costs Benefit of$(9)million,as net credit losses were more than offset by an ACL releas

79、e reflecting an improved macroeconomic outlook Net Income$210 millionRoTCE(3)of 6.4%;Year-to-date RoTCE(3)of 5.9%Financial ResultsKey Metrics and StatisticsNote:Totals may not sum due to rounding.Net new assets are estimated as of 2Q24.All footnotes are presented starting on Slide 33.Revenue Detail

80、by Business($in B,unless otherwise noted)2Q24%QoQ%YoYBranded CardsCredit Card Spend Volume1318%3%Average Loans1092%10%NCL Rate (in bps)3.82%17 135 90+day Delinquency Rate (in bps)1.09%(10)28 Retail ServicesCredit Card Spend Volume2419%(4)%Average Loans51(1)%4%NCL Rate (in bps)6.45%13 199 90+day Deli

81、nquency Rate (in bps)2.36%(17)59 Retail BankingEOP Digital Deposits(8)28(1)%(2)%USPB Branches641(1)%(2)%Mortgage Originations439%(4)%Average Mortgage Loans412%14%($in B,unless otherwise noted)2Q24%QoQ%YoYAllocated Average TCE(2)25-15%RoTCE(3)1.9%Efficiency Ratio(in bps)50%100 (400)Average Loans2061%

82、9%EOP Loans2103%8%Average Deposits(4)93(7)%(18)%EOP Deposits(4)86(14)%(23)%Active Mobile Users(MM)(5)192%10%Active Digital Users(MM)(6)261%6%NCL Rate (in bps)3.77%10 118 Average Installment Loans(7)62%14%Memo:($in MM)Net Interest Income5,103(2)%5%Non-Interest Revenue(184)NM30%($in MM)2Q24%QoQ%YoYBra

83、nded Cards2,537(4)%8%Retail Services1,746(8)%6%Retail Banking636-3%Total Revenues4,919(5)%6%Expenses2,442(3)%(2)%NCLs1,9314%59%ACL Build(Release)and Other(1)38413%25%Credit Costs2,3155%52%EBT 162(64)%(73)%Net Income121(65)%(74)%U.S.Personal Banking results,key metrics and statisticsRevenues Up 6%YoY

84、,driven by NII growth of 5%due to loan growth in cards,and higher non-interest revenue due to lower partner paymentsExpenses Down(2)%YoY,reflecting lower technology and compensation costs,partially offset by higher volume-related expensesCredit Costs Cost of$2.3 billion,largely driven by NCLs of$1.9

85、 billion as multiple cards loan vintages that were originated over the last few years are now maturing,as well as persistent inflation and higher interest rates impacting a subset of consumers.There was also an ACL build of approximately$400 million reflecting volume growth in the quarterNet Income$

86、121 millionRoTCE(3)of 1.9%;Year-to-date RoTCE(3)of 3.7%Financial ResultsKey Metrics and Statistics Detail by BusinessKey Metrics and StatisticsHighlightsNote:Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.172022(5)2023(5)2Q24(5)StatusRevenue ExpensesRevenue Expen

87、sesRevenue ExpensesClosed Exit Markets$2.9$2.1$2.3$1.5$0.1$0.2Mexico Consumer/SBMM4.73.45.74.21.61.1Wind-Downs/Sale/Other0.92.30.71.40.00.4Legacy Franchises8.57.88.77.11.81.6Divestiture-related Impacts0.90.71.30.40.00.1Legacy Franchises ex-divestitures(5)7.67.17.36.81.71.6($in B,unless otherwise not

88、ed)2Q24%QoQ%YoYLegacy Franchises Average Allocated TCE(3)6-(38)%Corporate/Other Average Allocated TCE(3)217%(2)%Allocated Average TCE(3)275%(14)%Efficiency Ratio(in bps)107%(600)1,700 Legacy Franchises Revenues(in$MM)1,727(6)%(10)%Legacy Franchises Expenses(in$MM)1,558(4)%(10)%Corporate/Other Revenu

89、es(in$MM)253(55)%(58)%Corporate/Other Expenses(in$MM)556(49)%2%Memo:($in MM)Net Interest Income1,553(8)%(27)%Non-Interest Revenue427(38)%8%($in MM)2Q24%QoQ%YoYLegacy Franchises(managed basis)1,727(6)%(10)%Corporate/Other253(55)%(58)%Total Revenues1,980(17)%(22)%Expenses2,114(22)%(7)%NCLs214(14)%8%AC

90、L Build(Release)and Other(2)29NMNMCredit Costs24331%22%EBT(377)24%NMNet Income(402)16%NMAll Other(Managed Basis(1)results,key metrics and statistics Revenues Down(22)%YoY,primarily driven by the closed exits and wind-downs and higher funding costs,partially offset by growth in Mexico as well as the

91、impact from the Visa B exchange Expenses Down(7)%YoY,primarily driven by lower expenses from the closed exits and wind-downs,partially offset by the civil money penalties imposed by the FRB and the OCC(4)Credit Costs Cost of$243 million,primarily comprised of net credit losses18Financial ResultsKey

92、Metrics and StatisticsHighlightsNote:Wind-down /Sale/Other includes consumer businesses in Poland,China and Korea,as well as Russia,UK and Legacy Assets.Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.Legacy Franchise Exits Contribution($in B)19Full year revenues:

93、$80-81 billionNIR driven by Fee growth in Services,driven by client wins and deepening of existing relationships Rebound in Investment Banking and improvement in Wealth Lower partner payments in Retail ServicesNII ex-Markets down modestly YoY(2)Full year expenses:Expect to be in line with full year

94、guidance,$53.5-53.8 billion ex.FDIC special assessment and Civil Money Penalties(3)(4),albeit likely at the higher end Cost of CreditFull year Branded Cards average NCL rate:3.50-4.00%Full year Retail Services average NCL rate:5.75-6.25%(likely at the higher-end)Expect seasonality to create some var

95、iability in the quarterly NCL rateCapitalExpensesRevenueFull Year 2024 Guidance 4-5%revenue CAGR as we continue to execute in Services,Markets and USPB Capitalize on expected rebound in Banking wallet Refocus our strategy in Wealth to drive growth in investment revenueUnderlying Drivers of Medium-Te

96、rm(1)Targets 60%efficiency ratio;$51-53 billion,revenue dependent Reduce expenses through benefits from organizational simplification,market exits and stranded cost Efficiencies and benefits from investments in transformation and technology CoC driven by growth and mix,as well as macro environment E

97、xpect continued capital benefit from exits and simplification as well as the execution of our strategy over time Committed to 11-12%RoTCE Medium-term Target(6)Continue to evaluate share buybacks on a quarterly basis(5)Plan to repurchase$1B of common stock this quarter Full year 2024 guidance and med

98、ium-term(1)targetsNote:All footnotes are presented starting on Slide 33.-Securities Litigation Reform Act of 1995.These statements are based on managements current expectations and are subject to uncertainty and changes in circumstances.These statements are not guarantees of future results or occurr

99、ences.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:macroeconomic,geopolitical and other challenges and uncertainties,including those related simplification and oth

100、er strategic and other initiatives,including those related to its investment,expense and capital-related actions;the potential outcomes of the extensive legal and regulatory proceedings,examinations,investigations,consent orders and related compliance efforts and other inquiries to which Citi is or

101、may be subject;ongoing regulatory and legislative uncertainties and changes,including changes in regulatory capital rules,requirements or interpretations;and the precautionary statements included in this presentation.These factors also consist of those contained in Citigroups filings with the U.S.Se

102、curities and-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

103、.20$4.5$4.7$5.2$5.4$5.6$5.6$6.0$6.1$6.29.8%10.1%10.3%11.1%11.2%11.0%11.1%11.9%11.9%2Q223Q224Q221Q232Q233Q234Q231Q242Q24ACLL BalanceACLL/EOP Loans$5.8$5.9$6.2$6.4$6.4$6.6$6.7$6.9$7.16.3%6.2%6.2%6.6%6.3%6.3%6.0%6.4%6.4%2Q223Q224Q221Q232Q233Q234Q231Q242Q24ACLL BalanceACLL/EOP Loans1.16%1.35%1.56%1.76%1

104、.77%2.12%2.36%2.53%2.36%2.60%2.71%3.30%4.08%4.46%4.53%5.44%6.32%6.45%2Q223Q224Q221Q232Q233Q234Q231Q242Q2490+DPDNCL0.46%0.51%0.63%0.78%0.81%0.92%1.07%1.19%1.09%1.50%1.50%1.68%2.18%2.47%2.72%3.06%3.65%3.82%2Q223Q224Q221Q232Q233Q234Q231Q242Q2490+DPDNCLRetail ServicesBranded CardsEOP Loans2Q231Q242Q24$1

105、03.0$108.0$111.8EOP Loans2Q231Q242Q24$50.0$50.8$51.7ACLL Balance and ACLL/EOP LoansACLL Balance and ACLL/EOP Loans22Credit Trends for Branded Cards and Retail Services($in B)$1.9$1.0$1.6$1.4$0.5$0.1($0.2)2Q23 NetInvestment4Q23 NetInvestmentNet Income1Q24 NetInvestmentNet IncomeCapitalrepatriation2Q2

106、4 NetInvestmentCiti has operated in Argentina for over 100 years and currently serves approximately 1,300 clients,including 700 multinational clientsThe primary activities we engage in with clients in Argentina are liquidity management,payments and custody within ServicesOn April 30,2024,the Central

107、 Bank of Argentina(BCRA)issued regulations that allow local entities,including banks,to subscribe to BCRA USD-denominated bonds,called Bonds for the Reconstruction for a Free Argentina(BOPREAL)The bonds,which trade at a discount and come with an upfront transaction tax at the time of the auction,can

108、 then be sold in the secondary market,with the discounted proceeds being used to pay dividends in USD to a parent entity outside of ArgentinaDuring 2Q24,Citibank Argentina returned approximately$0.2 billion of excess capital through dividends to its parent entity,thereby reducing future FX devaluati

109、on risknet investment decreased to$1.4 billion,primarily driven by capital repatriation exceeding income from operations,including NII earned on net investments at a lower current policy rate than in the prior quarter,as the BCRA has continued to cut local benchmark interest rates during 2024(from 1

110、00%as of December 2023 to 40%as of June 2024)As of June 30,2024,$0.8 billion of Citis net investment is denominated in local currency(down from$0.9 billion in 1Q24),which as of the end of the quarter was substantially unhedged and is subject to further peso devaluation,with the remainder denominated

111、 in USD In 2024,while less significant than in 2023,we expect further peso devaluation impacting non-interest revenue with offsets from Other Net Income 2Q24 Argentina Financial Impacts(1)23($in B)Net Investment Change in Argentina Since 2Q23Note:Totals may not sum due to rounding.All footnotes are

112、presented starting on Slide 33.$1.0$1.2$0.2$0.1$0.2($0.1)4Q214Q224Q231Q24Transfer RiskReserve2Q24$9.8$7.5$6.6$7.0$0.4$0.9$0.5($0.2)$8.24Q214Q224Q23UnremittableCorporateDividends1Q24UnremittableCorporateDividendsRubleAppreciationOther2Q24OverviewEnded nearly all of the institutional banking services

113、offered in Russia as of March 31,2023Remaining services are only those necessary to fulfill our remaining legal and regulatory obligations Continue to wind down the consumer and local commercial banking businesses Russia exposure increased by approximately$1.2 billion from the previous quarter due t

114、o net increases in Russia unremittable corporate dividends and ruble appreciation Of the$8.2 billion exposure as of June 30,2024,$6.3 billion or 77%was unremittable corporate dividends Net investment in the Russian entity declined by$0.1 billion during 2Q24 to$0.1 billion,largely driven by additiona

115、l transfer risk reserve in the quarter Citi has a cumulative translation adjustment(CTA)loss balance of approximately$1.6 billion(1)earnings upon either the substantial liquidation or a loss of control of the entity(capital neutral)Additionally,if a loss of control of the entity were to occur,then C

116、iti would also recognize a loss of$0.7 billion on intercompany liabilities currently owed by its Russian entityUpdate on Russia exposure and net investment 24Trend in Russia net investment Since 4Q21Note:Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.($in B)($in

117、B)Includes impact of ($1.2B)transfer risk reserve and($0.2B)in FX devaluation during 2023Trend in Russia Exposure Since 4Q2177%of remaining exposure is a result of unremittable corporate dividends(16%)$176$352$239$132Available LiquidityResources2Q24 Liquidity and investment portfolio metricsAverage

118、LCR and Historical Trajectory(30-Day Stress)EOP Available Liquidity Resources(1)Other Liquidity Resources=$371$899($in B)HQLA=$528 Comprised of unencumbered securities and unused borrowing capacity Available liquidity resources of about$899 billion are comprised of HQLA and other unencumbered securi

119、ties and unused borrowing capacity The average HQLA of$542 billion that we hold exceeds Net Cash Outflow of$464 billion by 17%or about$78 billionThe level of available liquidity resources means Citi has approximately$435 billion(2)of liquidity above and beyond the stressed outflow assumptions under

120、the LCR requirementCommentaryComprised of cash,U.S.Treasuries and foreign sovereign securities2Q24 LCR117%+$78 cushionLCR Ratio2Q232Q24119%117%EOP HQLAAvailable Cash$176US Sovereign$257US Agency/Agency MBS$30Foreign Government Debt$65Total HQLA$528(1)25Select Investment Portfolio Metrics$542$464HQLA

121、Net Cash OutflowNote:All footnotes are presented starting on Slide 33.2Q231Q242Q24AFS Securities(Duration:2 Years)$237$255$249 HTM Securities(Duration:3 Years)262 252 251 578585598598614636652666770783797786795810831806809796826830814797803808804209208214220221226235237247260275282290303315320310304

122、31231631130530731631679 78 78 80 81 82 83 88 95 100 104 108 113 114 114 118 116 115 111 111 113 110 105 100 93 121115117121124123120124122125129128123116110908810111210610010310510297986 986 1,006 1,017 1,040 1,066 1,090 1,115 1,234 1,268 1,305 1,304 1,321 1,343 1,370 1,334 1,323 1,316 1,361 1,363 1

123、,338 1,315 1,320 1,326 1,310 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24Note:Totals may not sum due to rounding.All other includes Banking,Markets,Legacy Franchises and Corp/Other.Total CAGR:4.8%Services CAGR:5.7%26($in

124、 B)Historical average deposit growthServicesUSPBWealthAll otherAverage Tangible Common Equity(TCE)2Q241Q242Q23Services$24.9$24.9$23.0Markets54.054.053.1Banking 21.821.821.4Wealth13.213.213.4USPB25.225.221.9All Other 27.025.631.3Total Citigroup Average TCE$166.1$164.7$164.1Plus:Average Goodwill19.519

125、.620.0Average Intangible Assets(other than MSRs)3.63.73.9Average Goodwill and Identifiable Intangible Assets(other than MSRs)Related to Assets Held-for-Sale-0.2Total Citigroup Average Common Stockholders Equity$189.2$188.0$188.22Q242Q23YTD24Citigroup Net Income$3,217$2,915$6,588Less:Preferred Stock

126、Dividends242288521Net Income Available to Common Shareholders2,9752,6276,067Average Common Equity$189,211$188,214$188,606Less:Average Goodwill and Intangibles(23,063)(24,072)(23,166)Average TCE166,148164,142165,440RoTCE7.2%6.4%7.4%RoTCE by Segment2Q24Net Income to Common(1)Average Allocated TCE(2)Ro

127、TCE(3)Services$1.5$2523.8%Markets1.45410.7%Banking0.4227.5%Wealth0.2136.4%USPB0.1251.9%All Other(Managed Basis)(1)(0.6)27NMReconciling Items(4)(0.0)-NMCitigroup(1)3.01667.2%YTD 24Net Income to Common(1)Average Allocated TCE(2)RoTCE(3)Services$3.0$2523.9%Markets2.85410.6%Banking0.9228.6%Wealth0.4135.

128、9%USPB0.5253.7%All Other(Managed Basis)(1)(1.4)26NMReconciling Items(4)(0.1)-NMCitigroup(1)6.11657.4%2Q241Q242Q23Common Stockholders Equity$190,210$188,985$188,474Less:Goodwill19,70420,04219,998Intangible Assets(other than Mortgage Servicing Rights)3,5173,6363,895Goodwill and Identifiable Intangible

129、 Assets(other than MSRs)Related to Assets Held-for-Sale-246Tangible Common Equity(TCE)$166,989$165,307$164,335Common Shares Outstanding(CSO)1,907.81,907.41,925.7Tangible Book Value Per Share(TCE/CSO)$87.53$86.67$85.34Tangible common equity reconciliation and Citigroup returnsTangible Common Equity a

130、nd Tangible Book Value Per ShareNote:Totals may not sum due to rounding.T than mortgage servicing rights(MSRs).Tangible book value per share is defined as TCE divided by common shares outstanding.All footnotes are presented starting on Slide 33.($in MM,except per share amounts)Return on Tangible Com

131、mon Equity(RoTCE)($in B)27Tangible Common Equity by Segment($in B)Foreign currency(FX)translation impact(1)2Q241Q242Q23QoQYoYMexico Revenues-as reported1,6401,5711,4124%16%Impact of FX translation-(38)11Mexico Revenues-Ex-FX1,6401,5331,4237%15%Mexico Expenses-as reported1,1241,1931,035(6)%9%Impact o

132、f FX translation-(32)7Mexico Expenses-Ex-FX1,1241,1611,042(3)%8%Foreign currency(FX)translation impact(1)2Q241Q242Q23QoQYoYTotal Revenues-as Reported20,13921,10419,436(5)%4%Impact of FX translation-(178)(572)Total revenues-Ex-FX20,13920,92618,864(4)%7%Total operating expenses-as reported13,35314,195

133、13,570(6)%(2)%Impact of FX translation-(89)(116)Total operating expenses-Ex-FX13,35314,10613,454(5)%(1)%Total provisions for credit losses&PBC-as reported2,4762,3651,8245%36%Impact of FX translation-0(7)Total provisions for credit losses&PBC-Ex-FX2,4762,3651,8175%36%Total EBT-as reported4,3104,5444,

134、042(5)%7%Impact of FX translation-(89)(449)Total EBT-Ex-FX4,3104,4553,593(3)%20%Total EOP Loans-as reported($in B)6886756612%4%Impact of FX translation-(4)(5)Total EOP Loans-Ex-FX($in B)6886716563%5%Total EOP Deposits-as reported($in B)1,2781,3071,320(2)%(3)%Impact of FX translation-(9)(13)Total EOP

135、 Deposits-Ex-FX($in B)1,2781,2981,307(2)%(2)%Total Average Loans-as reported($in B)6806796540%4%Impact of FX translation-(2)(2)Total Average Loans-Ex-FX($in B)6806776520%4%Total Average Deposits-as reported($in B)1,3101,3261,338(1)%(2)%Impact of FX translation-(5)(9)Total Average Deposits-Ex-FX($in

136、B)1,3101,3211,329(1)%(1)%Total CitigroupLegacy Franchises($in MM)Note:Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.28FX impactReconciliation of adjusted resultsNote:Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.29Total Citi

137、group Revenues,Net Interest Income and Expenses($in MM)Corporate Lending Revenues2Q242Q241Q244Q233Q232Q23%QoQ%YoYTotal Citigroup Revenues-As Reported$20,139$21,104$17,440$20,139$19,436(5)%4%Less:Total Divestiture-Related Impacts on Revenues(1)33(12)(62)396(6)Total Citigroup Revenues-Excluding Divest

138、iture-Related Impacts$20,106$21,116$17,502$19,743$19,442(5)%3%Total Citigroup Net Interest Income(NII)-As Reported$13,493$13,507$13,824$13,828$13,900-(3)%Less:Markets NII2,0381,7061,9871,6951,99919%2%Total Citigroup NII Ex-Markets(2)$11,455$11,801$11,837$12,133$11,901(3)%(4)%Total Citigroup Operatin

139、g Expenses-As Reported$13,353$14,195$15,996$13,511$13,570(6)%(2)%Less:FDIC Special Assessment Impact on Operating Expenses(3)342511,706-Total Citigroup Operating Expenses,Excluding FDIC Special Assessment$13,319$13,944$14,290$13,511$13,570(4)%(2)%Total Divestiture-Related Impacts on Operating Expens

140、es(1)8511010611479Total Citigroup Operating Expenses,Excluding Divestiture Impacts&FDIC Special Assessment$13,234$13,834$14,184$13,397$13,491(4)%(2)%2Q242Q241Q242Q23%QoQ%YoYBanking Corporate Lending Revenues-As Reported$774$811$646(5)%20%Less:Gain/(loss)on loan hedges(4)9(104)(66)Banking Corporate L

141、ending Revenues-Excluding Gain/(loss)on loan hedges$765$915$712(16)%7%30All Other(Managed Basis(1)TrendNote:Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.2Q241Q242Q23QoQ%YoY%Legacy Franchises(Managed Basis)1,7271,8291,925(6)%(10)%Corporate/Other253557609(55)%(58

142、)%1,9802,3862,534(17)%(22)%2,1142,6952,269(22)%(7)%Net credit losses214249199(14)%8%Net ACL build/(release)(4)(98)6796%NMOther provisions3335(66)(6)%NM24318620031%22%EBT(377)(495)6524%NM$(402)$(477)$7816%NMAll Other(Managed Basis)($in millions,except as otherwise noted)Total revenuesTotal operating

143、expensesTotal cost of creditNet income(loss)Reconciliation of adjusted results(cont.)Note:Totals may not sum due to rounding.All footnotes are presented starting on Slide 33.31All Other(1)($in MM)2Q241Q242Q23%QoQ%YoYAll Other Revenues,Managed Basis$1,980$2,386$2,534(17)%(22)%Add:All Other Divestitur

144、e-related Impact on Revenue(2)$33$(12)$(6)NMNMAll Other Revenues,(U.S.GAAP)$2,013$2,374$2,528(15)%(20)%All Other Operating Expenses,Managed Basis$2,114$2,695$2,269(22)%(7)%Add:All Other Divestiture-related Impact on Operating Expenses(3)$85$110$79(23)%8%All Other Operating Expenses,(U.S.GAAP)$2,199$

145、2,805$2,348(22)%(6)%All Other Cost of Credit,Managed Basis$243$186$20031%22%Add:All Other Divestiture-related Net credit losses(3)11 (8)All Other Divestiture-related Net ACL build/(release)(4)-(4)All Other Divestiture-related Other provisions(5)-All Other Cost of Credit,(U.S.GAAP)$240$197$18822%28%A

146、ll Other EBT,Managed Basis$(377)$(495)$6524%NMAdd:All Other Divestiture-related Impact on Revenue(2)33 (12)(6)All Other Divestiture-related Impact on Operating Expenses(3)(85)(110)(79)All Other Impact on Cost of Credit3 (11)12 All Other EBT,(U.S.GAAP)$(426)$(628)$(8)32%NMAll Other Net Income(Loss),M

147、anaged Basis$(402)$(477)$7816%NMAdd:All Other Divestiture-related Impact on Revenue(2)33 (12)(6)All Other Divestiture-related Impact on Operating Expenses(3)(85)(110)(79)All Other Divestiture-related Impact on Cost of Credit3 (11)12 All Other Divestiture-related Impact on Taxes(3)17 39 (19)All Other

148、 Net Income(Loss),(U.S.GAAP)$(434)$(571)$(14)24%NMGlossary32ACL:Allowance for Credit LossesACLL:Allowance for Credit Losses on LoansAFS:Available for SaleAI:Artificial Intelligence AOCI:Accumulated Other Comprehensive IncomeATM:Automated Teller MachineAUA:Assets Under AdministrationAUC:Assets Under

149、CustodyB:BillionsBCRA:Central Bank of ArgentinaBHC:Bank Holding CompanyBOPREAL:Bonds for the Reconstruction for a Free Argentina bps:Basis PointsCAGR:Compound Annual Growth RateCBNA:Citibank N.A.CCAR:Comprehensive Capital Analysis and ReviewCCB:Citi Commercial BankCECL:Current Expected Credit Losses

150、CET1:Common Equity Tier 1CoC:Cost of CreditCSO:Common Shares OutstandingCTA:Cumulative Translation AdjustmentDCM:Debt Capital MarketsDFAST:Dodd-Frank Act Stress TestDIA:Deposit Insurance AgencyDPD:Days Past DueDTA:Deferred Tax AssetsEBT:Earnings before TaxECM:Equity Capital MarketsEOP:End of PeriodE

151、PS:Earnings per ShareFDIC:Federal Deposit Insurance CorporationFI:Fixed IncomeFICO:Fair Isaacson CompanyFRB:Federal Reserve BoardFX:Foreign ExchangeGAAP:Generally Accepted Accounting PrinciplesGSIB:Global Systemically Important BanksHQLA:High Quality Liquid AssetsHTM:Held to MaturityIB:Investment Ba

152、nkingIG:Investment GradeIHC:Intermediate Holding Company LCR:Liquidity Coverage RatioLTD:Long-term DebtM&A:Mergers&AcquisitionsMBS:Mortgage-Backed SecurityMLE:Material Legal EntityMM:MillionsMNC:Multi-National CorporationMSR:Mortgage Servicing RightMTM:Mark-to-MarketNAL:Non-Accrual LoansNCC:National

153、 Clearing CounterpartyNCL:Net Credit LossesNII:Net Interest IncomeNIM:Net Interest MarginNIR:Non-Interest RevenueNM:Not MeaningfulNNA:Net New AssetsOCC:Office of the Comptroller of the CurrencyPBC:Provision for Benefits and ClaimsQoQ:Quarter-Over-QuarterRWA:Risk-Weighted AssetsSBMM:Small Business an

154、d Middle MarketRoE:Return on Average Common EquityRoTCE:Return on Average Tangible Common EquitySEC:U.S.Securities&Exchange CommissionT:TrillionsTCE:Tangible Common EquityTTS:Treasury and Trade SolutionsUSD:U.S.DollarUSPB:U.S.Personal BankingVaR:Value at RiskYoY:Year-Over-YearYTD:Year-to-dateFootnot

155、esSlide 51)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.For a reconciliation to reported results,please refer to Slide 27.2)r t-K filed with the SEC on July 12,2024.3)Tang

156、ible Book Value per Share is a non-GAAP financial measure.For a reconciliation of this measure to reported results,please refer to Slide 27.4)itiMarket share is calculated using Citi-I Client Segment.5)Cross Border Transaction Value is defined as the total value of cross-rldlink and Cross Border Fun

157、ds Transfer platforms,including payments from Consumer,Corporate,Financial Institution and Public Sector clients.6)my and internal revenues.Market share is calculated using Citi-7)8)Wallet share based on Dealogic data as of June 28,2024;wallet share for Debt Capital Markets includes Leveraged Financ

158、e and Securitization.9)Client Investment Assets includes Assets Under Management,trust and custody assets.2Q24 is preliminary.10)Client Balances includes EOP Deposits,Loans,and Client Investment Assets.33Slide 21)Represents consumer banking businesses across 14 markets in Asia,Europe,the Middle East

159、 and Mexico as part of its strategic refresh.Slide 41)Global Trade Review as of May 1,2024.2)Wallet share based on Dealogic data as of June 28,2024;wallet share for Debt Capital Markets includes Leveraged Finance and Securitization.Slide 31)Service material legal entities(MLEs)are excluded from this

160、 illustration.2)The U.S.-3)Represents MLEs as defined by the 165(d)Rule under the Dodd-Frank Act,which specifies that an MLE is an entity,including a subsidiary or foreign office,that is significant to the activities of a core business line or critical operation.MLEs reported under the Dodd-Frank Ac

161、t may differ from the significant legal entity subsidiFootnotes(cont.)34Slide 7 1)Results of expenses excluding divestiture-related impacts are non-GAAP financial measures.For a reconciliation of these results,please refer to Slide 29.2)2Q24 includes an incremental$34 million pre-tax charge to opera

162、ting expenses related to the FDIC special assessment.This is in addition to the$1,706 million pre-tax charge to operating expenses for the FDIC special assessment in the fourth quarter of 2023 and$251 million pre-tax charge to operating expenses for the FDIC special assessment in the first quarter o

163、f 2024.Results excluding FDIC special assessment-related items are non-GAAP financial measures.For reconciliation of these results,please refer Slide 29.3)On July 10,2024,the FRB entered into a Civil Money Penalty Consent Order with Citigroup in the amount of approximately$60.6 million,and the OCC e

164、ntered into a Civil Money Penalty Consent on Form 8-K filed with the U.S.Securities and Exchange Commission on July 10,2024.4)Full year 2024 expense estimates excludes the incremental FDIC special assessment and Civil Money Penalties related impacts are forward-looking non-GAAP financial measures.1H

165、24 expenses of$27.5 billion included an incremental$285 million pre-tax charge related to the FDIC special assessment and$136 million civil money penalties imposed by the FRB and OCC.From time to time,management may discuss forward-looking non-GAAP financial measures,such as forward-looking estimate

166、s or targets for revenue,expenses and RoTCE.We are unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide,without unreasonable effort,a meaningful or accurate calculation or estimati

167、on of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur.Such unavailable information could be significant to future results.Slide 61)Allowance for Credit Losses(ACL)Build/(Release)

168、and Other provisions includes a net ACL build of approximately$68 million related to loans and unfunded lending commitments as well as other provisions of approximately$125 million relating to held-to-maturity(HTM)debt securities and other assets and policyholder benefits and claims.2)Return on Tang

169、ible Common Equity(RoTCE)is a non-GAAP financial measure.RoTCE represents annualized net income available to common shareholders as a percentage of average TCE.For a reconciliation to reported results,please refer to Slide 27.3)th-K filed with the SEC on July 12,2024.4)Results of revenue excluding d

170、ivestiture-related impacts are non-GAAP financial measures.For a reconciliation of these results,please refer to Slide 29.5)On July 10,2024,the FRB entered into a Civil Money Penalty Consent Order with Citigroup in the amount of approximately$60.6 million,and the OCC entered into a Civil Money Penal

171、ty Consent on Form 8-K filed with the U.S.Securities and Exchange Commission on July 10,2024.6)Results of expenses excluding divestiture-related impacts are non-GAAP financial measures.For a reconciliation of these results,please refer to Slide 29.immaterial incremental FDIC special assessment of ap

172、proximately$34 million.Slide 8 1)t intolerable harm to clients,financial markets or Citi.35Slide 121)com-K filed with the SEC on July 12,2024.2)DTA represents deferred tax excludable from Basel III CET1 Capital,which includes net DTAs arising from net operating loss,foreign tax credit and general bu

173、siness credit tax carry-forwards and DTA arising from timing difference(future deductions)that are deducted from CET1 capital exceeding the 10%limitation.RWA and Other include changes in goodwill and intangible assets and changes in Other Comprehensive Income.Citis regulatory capital ratios and comp

174、onents reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses(CECL)standard.For additional information,see Capital Resources-Regulatory Capital Treatment-Modified Transition of the Current Expected Credit Losses Methodolo

175、gy in Citigroups 2023 Annual Report on Form 10-K.Slide 111)th-K filed with the SEC on July 12,2024.Certain prior period amounts and ratios have been revised to conform with enhancements made in the current period.2)2Q24 is preliminary.For the composition of Citigroups Supplementary Leverage ratio,pl

176、ease see Appendix E of the 2Q24 earnings press release included as Exhibit 99.1 to Citigroups Current Report on Form 8-K filed with the SEC on July 12 2024.3)Available Liquidity Resources is defined as end-of-period HQLA;additional unencumbered securities,including excess liquidity held at bank enti

177、ties that is non-transferable to other entities within serve Bank discount window.4)Tangible Book Value per Share is a non-GAAP financial measure.For a reconciliation of this measure to reported results,please refer to Slide 27.5)Investments,net,include available-for-sale debt securities,held-to-mat

178、urity debt securities,net of allowance,and equity securities.6)Trading-related assets include securities borrowed or purchased under agreements to resell net of allowance and trading account assets and brokerage receivables net of allowance.7)Loans,net,include ACLL.EOP gross loans,which does not inc

179、lude ACLL,for 2Q24,1Q24,and 2Q23 are$688 billion,$675 billion,and$661 billion,respectively.8)Other Assets include goodwill,intangible assets,deferred tax assets,allowance for credit losses on loans and all other assets net of allowance.9)Trading-related liabilities include securities loaned or sold

180、under agreements to repurchase and trading account liabilities and brokerage payables.10)Other Liabilities include short-term borrowings and other liabilities.Slide 101)FICO scores are updated as they become available.Citi adjusted its disclosures for U.S.credit card FICO score distribution in 1Q24

181、to align with industry reporting practices using a threshold of 660 versus the 680 threshold used previously.2)Excludes loans that are carried at fair value of$5.8 billion,$8.9 billion and$8.5 billion at June 30,2023,March 31,2024,and June 30,2024,respectively.Slide 9 1)NII excluding Markets is a no

182、n-GAAP financial measure.2)Gross Loan Yield is defined as gross interest revenue earned on loans divided by average loans.3)Cost of Interest-bearing deposits.Footnotes(cont.)Footnotes(cont.)36Slide 14 1)Allowance for Credit Losses(ACL)Build/(Release)and Other provisions includes a net ACL release of

183、 approximately$(109)million related to loans and unfunded lending commitments as well as other provisions of approximately$32 million relating to held-to-maturity(HTM)debt securities and other assets.2)ardized risk-weighted assets,the global systemically important banks(GSIB)surcharge,a simulation o

184、f 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.For addition

185、al information on this measure and a reconciliation stockholders equity,please refer to Slide 27.3)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.For the components of the c

186、alculation,please refer to Slide 27.4)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

187、 to differences in portfolio composition,VaR methodologies and model parameters.Slide 13 1)Allowance for Credit Losses(ACL)Build/(Release)and Other provisions includes a net ACL release of approximately$(98)million related to loans and unfunded lending commitments as well as other provisions of appr

188、oximately$71 million relating to held-to-maturity(HTM)debt securities and other assets.2)ardized 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 underlyi

189、ng 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.For additional information on this measure and a reconciliation stockholders equity,please refer to Slide 27.3)Return on Tang

190、ible Common Equity(RoTCE)is a non-GAAP financial measure.RoTCE represents annualized net income available to common shareholders as a percentage of average TCE.For the components of the calculation,please refer to Slide 27.4)Cross Border Transaction Value is defined as the total value of cross-rldli

191、nk and Cross Border Funds Transfer platforms,including payments from Consumer,Corporate,Financial Institution and Public Sector clients.5)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(primari

192、ly Financial Institutions).Amounts in the table are stated in millions of payment instructions processed.6)Commercial Card Spend Volume is defined as total global spend volumes using Citi issued commercial cards net of refunds and returns.7)Reflects prior-period revisions for certain AUC North Ameri

193、ca accounts.Footnotes(cont.)37Slide 16 1)Allowance for Credit Losses(ACL)Build/(Release)and Other provisions includes a net ACL release of approximately$(43)million related to loans and unfunded lending commitments as well as other provisions of approximately$(1)million relating to benefits and clai

194、ms,and other assets.2)ardized 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

195、reassessed and as a result the TCE allocated to the segments may change.TCE is a non-GAAP financial measure.For additional information on this measure and a reconciliation stockholders equity,please refer to Slide 27.3)Return on Tangible Common Equity(RoTCE)is a non-GAAP financial measure.RoTCE repr

196、esents annualized net income available to common shareholders as a percentage of average TCE.For the components of the calculation,please refer to Slide 27.4)The period-over-period variances reflect the impact of the net deposit balance transfers from USPB to Wealth of approximately$13 billion over

197、the quarter,and approximately$27 billion over the last 12 months.These amounts represent the balances at the time relationships are transferred and include estimated amounts for the net transfers in June 2024.5)Client Investment Assets includes Assets Under Management,trust and custody assets.2Q24 i

198、s preliminary.6)Client Balances includes EOP Deposits,Loans,and Client Investment Assets.7)Estimated Net New Assets represent estimated asset inflows,including dividends,interest and distributions,less asset outflows.Excluded from the calculation are the impact of fees and commissions,market movemen

199、t,internal transfers within Citi specific to systematic upgrades/downgrades with USPB,and any impact from strategic decisions by Citi to exit certain markets or services.Also excluded from the calculation are potential Net New Asset amounts,expected to be immaterial,associated with markets in which

200、the data was not available for current period reporting.Slide 15 1)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 a

201、nd the mark-to-market on the loans in the portfolio that are at fair value.In the second quarter 2024,gain/(loss)on loan hedges included$9 million related to Corporate Lending,compared to$(66)million in the prior-year period.The fixed premium costs of these hedges are netted against the Corporate Le

202、nding revenues to reflect the cost of credit-GAAP financial measures.For additional information on this measure,please refer to Slide 29.2)Allowance for Credit Losses(ACL)Build/(Release)and Other provisions includes a net ACL release of approximately$(60)million related to loans and unfunded lending

203、 commitments as well as other provisions of approximately$(12)million relating to other assets.3)ardized 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

204、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.For additional information on this measure and a reconciliation stockholders equity,please refer to Slide 27.4)Return

205、 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.For the components of the calculation,please refer to Slide 27.Footnotes(cont.)38Slide 17 1)Allowance for Credit Losses(ACL)Build/(R

206、elease)and Other provisions includes a net ACL build of approximately$382 million related to loans and unfunded lending commitments as well as other provisions of approximately$2 million relating to benefits and claims,and other assets.2)ardized risk-weighted assets,the global systemically important

207、 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

208、-GAAP financial measure.For additional information on this measure and a reconciliation stockholders equity,please refer to Slide 27.3)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 ave

209、rage TCE.For the components of the calculation,please refer to Slide 27.4)The period-over-period variances reflect the impact of the net deposit balance transfers from USPB to Wealth of approximately$13 billion over the quarter,and approximately$27 billion over the last 12 months.These amounts repre

210、sent the balances at the time relationships are transferred and include estimated amounts for the net transfers in June 2024.5)Active Mobile Users represents customers of all mobile services(mobile apps or via mobile browser)within the last 90 days through May 2024.Excludes Citi mortgage and Retail

211、Services reported in U.S.Personal Banking and includes U.S.Citigold reported in Wealth.6)Active Digital Users represents customers of all online and/or mobile services within the last 90 days through May 2024.Excludes Citi mortgage and Retail Services reported in U.S.Personal Banking and includes U.

212、S.Citigold reported in Wealth.7)Average Installment Loans is the total of U.S.Personal Loans,Merchant Installment Lending,and Flex(Loan/Pay/Point-of-Sale)products.8)Digital Deposits includes U.S.Citigold deposits reported under Wealth.Footnotes(cont.)39Slide 18 1)All Other(managed basis)reflects res

213、ults on a managed basis,which excludes divestiture-related impacts,for all periods,related to Citis divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico consumer banking and small business and middle market banking within Legacy Franchises.For additional informa

214、tion and a reconciliation of All Other-Legacy Franchises on a managed basis,please refer to Slides 30 and 31.2)Allowance for Credit Losses(ACL)Build/(Release)and Other provisions includes a net ACL release of approximately$(4)million related to loans and unfunded lending commitments as well as other

215、 provisions of approximately$33 million relating to held-to-maturity(HTM)debt securities and other assets.3)ardized 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

216、,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.For additional information on this measure and a reconciliation of the summation of the segment s and comp

217、onents average allocated TCE to Citis total average TCE and Citis total average stockholders equity,please refer to Slide 27.4)On July 10,2024,the FRB entered into a Civil Money Penalty Consent Order with Citigroup in the amount of approximately$60.6 million,and the OCC entered into a Civil Money Pe

218、nalty Consent on Form 8-K filed with the U.S.Securities and Exchange Commission on July 10,2024.5)Legacy Franchises revenues and expenses ex-divestitures are non-GAAP measures.2Q24 includes approximately$85 million in operating expenses(approximately$58 million after-tax),primarily related to separa

219、tion costs in Mexico and severance costs in the Asia exit markets.Divestiture-related impacts in 2023 includes:(i)an approximate$1.059 billion gain on sale recorded in revenue(approximately$727 million after-tax)related to the India consumer banking business sale;(ii)an approximate$403 million gain

220、on sale recorded in revenue(approximately$284 million after-tax)related to the Taiwan consumer banking business sale;and(iii)approximately$372 million(approximately$263 million after-tax)in operating expenses primarily related to separation costs in Mexico and severance costs in the Asia exit market

221、s.Divestiture-related impacts in 2022 includes:(i)an approximate$535 million(approximately$489 million after-tax)goodwill write-down due to resegmentation and the timing of Asia consumer banking business divestitures;(ii)an approximate$616 million gain on sale recorded in revenue(approximately$290 m

222、illion after-tax)related to the Philippines consumer banking business sale;and(iii)an approximate$209 million gain on sale recorded in revenue(approximately$115 million after-tax)related to the Thailand consumer banking business sale.Footnotes(cont.)40Slide 191)Defined as 2026.2)Full year 2024 NII e

223、x-Markets is a forward-looking non-GAAP financial measure.From time to time,management may discuss forward-looking non-GAAP financial measures,such as forward-looking estimates or targets for revenue,expenses and RoTCE.We are unable to provide a reconciliation of forward-looking non-GAAP financial m

224、easures to their most directly comparable GAAP financial measures because we are unable to provide,without unreasonable effort,a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and

225、 quantifying future amounts or when they may occur.Such unavailable information could be significant to future results.3)Full year 2024 expense estimates excludes the incremental FDIC special assessment and Civil Money Penalties related impacts are forward-looking non-GAAP financial measures.1H24 ex

226、penses of$27.5 billion included an incremental$285 million pre-tax charge related to the FDIC special assessment and$136 million civil money penalties imposed by the FRB and OCC.From time to time,management may discuss forward-looking non-GAAP financial measures,such as forward-looking estimates or

227、targets for revenue,expenses,and RoTCE.We are unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide,without unreasonable effort,a meaningful or accurate calculation or estimation of

228、 amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur.Such unavailable information could be significant to future results.4)On July 10,2024,the FRB entered into a Civil Money Penalty

229、Consent Order with Citigroup in the amount of approximately$60.6 million,and the OCC entered into a Civil Money Penalty Consent on Form 8-K filed with the U.S.Securities and Exchange Commission on July 10,2024.5)Subject to Citigroup Board of Directors approval.6)RoTCE over the medium-term is a forwa

230、rd-looking non-GAAP financial measure.From time to time,management may discuss forward-looking non-GAAP financial measures,such as forward-looking estimates or targets for revenue,expenses and RoTCE.We are unable to provide a reconciliation of forward-looking non-GAAP financial measures to their mos

231、t directly comparable GAAP financial measures because we are unable to provide,without unreasonable effort,a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future

232、amounts or when they may occur.Such unavailable information could be significant for future results.Slide 241)The loss is already reflected in AOCI in Equity and therefore will not have an impact on capital.Slide 25 1)Available Liquidity Resources is defined as end-of-period HQLA;additional unencumb

233、ered securities,including excess liquidity held at bank entities that is non-transferable to other entities within serve Bank discount window.2)Calculated as Total Available Liquidity Resources of$899 billion minus$464 billion of Net Cash Outflow as June 30,2024.Slide 231)Financial impacts from Arge

234、ntina are included in results for Services,Markets and Banking.Footnotes(cont.)41Slide 281)Reflects the impact of foreign currency(FX)translation into U.S.dollars applying the second quarter 2024 average exchange rates for all periods presented,with the exception of EOP loans and ion are non-GAAP fi

235、nancial measures.Slide 27 1)Net income to common for All Other(Managed Basis)is reduced by preferred dividends of$242 million in 2Q24.2)ardized risk-weighted assets,the global systemically important banks(GSIB)surcharge,a simulation of TCE in severe stress environments,as well as a leverage componen

236、t.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.3)Return on Tangible Common Equity(RoTCE)is a non-GAAP financial measure.RoTCE

237、 represents annualized net income available to common shareholders as a percentage of average TCE.4)Results of Net Income excluding divestiture-related impacts are non-GAAP financial measures.For a reconciliation of these results,please refer to Slide 31.Slide 29 1)Divestiture-related impacts in 202

238、4:1Q24 includes approximately$110 million in operating expenses(approximately$77 million after-tax),primarily related to separation costs in Mexico and severance costs in the Asia exit markets.2Q24 includes approximately$85 million in operating expenses(approximately$58 million after-tax),primarily

239、related to separation costs in Mexico and severance costs in the Asia exit markets.Divestiture-related impacts during the last three quarters of 2023:2Q23 includes approximately$79 million in expenses(approximately$57 million after-tax),primarily related to separation costs in Mexico and severance c

240、osts in Asia exit markets.For additional information,see Citis Quarterly Report on Form 10-Q for the quarterly period ended June 30,2023.3Q23 includes an approximate$403 million gain on sale recorded in revenue(approximately$284 million after various taxes)related to Citis sale of the Taiwan consume

241、r banking business.For additional information,see Citis Quarterly Report on Form 10-Q for the quarterly period ended September 30,2023.4Q23 includes approximately$106 million in expenses(approximately$75 million after-tax),primarily related to separation costs in Mexico and severance costs in Asia e

242、xit markets.For additional information,see Citis Annual Report on Form 10-K for the year ended December 31,2023.2)NII excluding Markets is a non-GAAP financial measure.3)Fourth quarter 2023 expenses include an FDIC special assessment of approximately$1,706 million.First quarter 2024 expenses include

243、 an incremental FDIC special assessment of approximately$251 million.Second quarter 2024 expenses include an incremental FDIC special assessment of approximately$34 million.4)Credit derivatives are used to economically hedge a portion of the Corporate Lending portfolio that includes both accrual loa

244、ns and loans at fair value.Gain/(loss)on loan hedges includes the mark-to-market on the credit derivatives and the mark-to-market on the loans in the portfolio that are at fair value.In the second quarter 2024,gain/(loss)on loan hedges included$9 million related to Corporate Lending,compared to$(66)

245、million in the prior-year period.The fixed premium costs of these hedges are netted against the Corporate Lending revenues to reflect the cost of credit-GAAP financial measures.Footnotes(cont.)42Slide 311)Reconciling Items consist of the divestiture-related impacts excluded from the results of All O

246、ther,as well as All OtherLegacy Franchises on a managed basis.2)Results of revenues excluding divestiture-related impacts are non-GAAP financial measures.For a reconciliation of these results,please refer to Slide 29.3)Results of expenses excluding divestiture-related impacts are non-GAAP financial

247、measures.For a reconciliation of these results,please refer to Slide 29.4)Includes credit reserve build/(release)for loans and provision for credit losses on unfunded lending commitments.5)Includes provisions for policyholder benefits and claims and other assets.Slide 301)All Other(managed basis)ref

248、lects results on a managed basis,which excludes divestiture-related impacts,for all periods,related to Citis divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico consumer banking and small business and middle market banking within Legacy Franchises.For additional information and a reconciliation of All Other Legacy Franchises on a managed basis,please refer to Slide 31.