Citigroup Announces $1.75 Billion Redemption of 3.290% Fixed Rate/Floating Rate Notes Due 2026 and $500 Million Redemption of Floating Rate Notes Due 2026

NEW YORK – Citigroup Inc. is announcing the redemption, in whole, constituting $1,750,000,000 of its 3.290% Fixed Rate/Floating Rate Notes due 2026 (the “fixed rate/floating rate notes”) (ISIN: US172967NL16), and the redemption, in whole, constituting $500,000,000 of its Floating Rate Notes due 2026 (the “floating rate notes” and, together with the fixed rate/floating rate notes, the “notes”) (ISIN: US172967NM98).

The redemption date for the notes is March 17, 2025 (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 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 notes. For further information on the fixed rate/floating rate notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/CitiMarch2022-4NC3-FXD-FRN-Final-Pro-Supp.pdf

For further information on the floating rate notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/CitiMarch2022-4NC3-FRN-Final-Pro-Supp.pdf