Citigroup Announces Full Redemption of Series Y Preferred Stock

NEW York – Citigroup Inc. is redeeming, in whole, all $1.0 billion aggregate liquidation preference of 1,000,000 Depositary Shares each representing a 1/25^th interest in its 4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y (the “Preferred Stock”).

The redemption date is November 15, 2026, for the Preferred Stock and related Depositary Shares (the “Redemption Date”). The cash redemption price for each Depositary Share will equal $1,000 and will be paid on November 16, 2026 (the “Redemption Payment Date”), the business day immediately following the Redemption Date. Holders of record on November 6, 2026, will receive the previously declared regular quarterly dividend of $10.375 per Depositary Share payable on the Redemption Payment Date.

The redemption announced today reflects Citigroup’s ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup’s redemptions are 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.

Beginning on the Redemption Date, dividends will no longer accrue on the Preferred Stock, and as of the Redemption Payment Date, the Depositary Shares representing the redeemed Preferred Stock will no longer be outstanding.

Computershare Trust Company, N.A. (“Computershare”) is the paying agent for the Depositary Shares. The paying agent’s address is Computershare Trust Company, Attn: Corporate Actions, 150 Royall Street, Suite 101, Canton, MA 02021. Questions relating to the notice of redemption and related materials should be directed to Computershare via telephone at 1-888-250-3985.

For further information on the Preferred Stock and the related Depositary Shares, please see the prospectus at the following web address: https://www.citigroup.com/rcs/citigpa/storage/public/CitiOct102821PreferredStockSeriesY.pdf