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Update Regarding Citi's Operations in Russia

March 14, 2022

We are moving with urgency to complete our assessment of our operations in Russia. In April 2021, we announced our intent to exit our consumer business in the country. We have now decided to expand the scope of that exit process to include other lines of business and continue to reduce our remaining operations and exposure. Due to the nature of banking and financial services operations, this decision will take time to execute.

We have also decided to stop soliciting any new business or clients. We are providing assistance to multi-national corporations, many of whom are undergoing the complex task of unwinding their operations. We will continue to manage our existing regulatory commitments and our obligations to depositors, as well as support all of our employees during this very difficult time.

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