Citigroup Announces $2.5 Billion Redemption of 2.876% Fixed Rate / Floating Rate Notes Due 2023 and $750 Million Redemption of Floating Rate Notes Due 2023

Citigroup Inc. is announcing the redemption, in whole, constituting $2,500,000,000 of its 2.876% Fixed Rate / Floating Rate Notes due 2023 (the “FXD/FRN notes”) (ISIN: US172967LM17), and the redemption, in whole, constituting $750,000,000 of its Floating Rate Notes due 2023 (the “FRN notes” and together with the FXD/FRN notes, the “notes”) (ISIN: US172967LN99).

The redemption date for the notes is July 24, 2022 (the “redemption date”). The cash redemption price for the notes will equal par plus accrued and unpaid interest, to but excluding, the redemption date and will be payable on July 25, 2022, the next succeeding business day after the redemption date.

The redemptions announced today are consistent with Citigroup's liability management strategy and reflect 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.

Beginning on the redemption date, interest will no longer accrue on the notes.

Citibank, N.A. is the paying agent for the FXD/FRN notes. For further information on the FXD/FRN notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/citi/fixedincome/data/414274ACL.PDF

Citibank, N.A. is the paying agent for the FRN notes. For further information on the FRN notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/citi/fixedincome/data/422462ACL.PDF

Citi

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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