For Immediate Release Citigroup Inc. (NYSE: C)

Citigroup Announces £99.9 Million Redemption of Citigroup Capital XVIII Enhanced Trust Preferred Securities

February 24, 2022

New York – Citigroup Inc. is announcing the redemption, in whole, constituting £99.9 million of the 6.829% Fixed Rate / Floating Rate Enhanced TRUPS® issued by Citigroup Capital XVIII (CUSIP: 172988AB3, ticker C/67BP) (the "Redeemed ETRUPS®").

The redemption date for the Redeemed ETRUPS® is March 28, 2022. The cash redemption price payable for each Redeemed ETRUPS® on the redemption date will equal 100% of the liquidation amount or £1,000, plus approximately £2.77058219 accumulated and unpaid distributions to the redemption date.

The redemption announced today is consistent with Citigroup's liability management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup will continue to consider opportunities to redeem or repurchase securities, based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citigroup's net interest margin and borrowing costs, the overall remaining tenor of Citigroup's debt portfolio, capital impact, as well as overall market conditions.

The Redeemed ETRUPS® are being redeemed, along with the common securities issued by Citigroup Capital XVIII (the "Capital Trust") and held by Citigroup, as a result of the concurrent redemption in whole by Citigroup of the junior subordinated debt securities held by the Capital Trust which underlie the Redeemed ETRUPS®.

Beginning on the redemption date, the Redeemed ETRUPS® will no longer be considered outstanding and distributions will no longer accrue on such securities.

The Bank of New York Mellon is the paying agent for the Redeemed ETRUPS®. The paying agent's address is The Bank of New York Mellon, 240 Greenwich Street, 7th Floor – East, New York, NY 10013. For further information on the Redeemed ETRUPS®, please see the related prospectus at the following web address:

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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Contacts Media: Danielle Romero-Apsilos (212) 816-2264 Investors: Jennifer Landis (212) 559-2718 Fixed Income Investors: Thomas Rogers (212) 559-5091

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