Citigroup Announces $1.5 Billion Redemption of Floating Rate Notes due 2024

NEW YORK – Citigroup Inc. is announcing the redemption, in whole, constituting $1,500,000,000 of its Floating Rate Notes due 2024 (the “notes”) (ISIN: US172967LL34).

The redemption date for the notes is May 17, 2023 (the “redemption date”). The cash redemption price for the notes payable on the redemption date will equal par plus accrued and unpaid interest, to but excluding, 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.

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

Citibank, N.A. is the paying agent for the notes. For further information on the notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/384367ACL.PDF

Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

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Danielle Romero Apsilos: (212) 816-2264, danielle.romeroapsilos@citi.com

Fixed Income Investor Contact

Peter Demoise: (212) 559-2718, peter.demoise@citi.com