Citigroup, Inc. · NYSE:C

Citigroup — Citigroup Financial Services Conference 2010

44 slides from Citigroup's conference presentation, Mar 11, 2010

  1. Slide 1: Citigroup Financial Services Conference

    Citigroup Financial Services Conference Vikram Pandit Chief Executive Officer March 11, 2010 7 os CIT

  2. Slide 2: Where We Were

    Where We Were

  3. Slide 3: Citigroup — Progress Over The Last 2 Years

    Citigroup — Progress Over The Last 2 Years » Raised significant new capital » Reduced amount and riskiness of assets » Cut expenses > Improved risk management » Added strong leadership » Repaid TARP and exited loss-sharing agreement

  4. Slide 4: Citigroup — Progress Over The Last 2 Years

    Citigroup — Progress Over The Last 2 Years TH Capital Ratios —*Tier1 Capital -#-Tier1 Common’ % 12.7% 12.8% %o 7.7% 42% 2.2% 10°08 20°08 3Q'08 4Q'08 1Q'09 20°09 3Q'09 4Q'09 Allowance for Loan Losses ($B) EFAS 166/167 Impact H=aAllowance —&-LLR% 5.60% 5.85% 6.64%" | 4.82% 4.27% 23th 9 $36.4 =“ $29.6

  5. Slide 5: Citigroup — Progress Over The Last 2 Years

    Citigroup — Progress Over The Last 2 Years ‘Heo o en, 20°08 30°08 4Q'08 20°09 30°09 4Q'09 eee 10°08 2Q'08 30°08 4Q'08 1Q'09 2Q°09 3°09 4Q'09 (1) Gooswiimpsiement charge. act

  6. Slide 6: Long-Term Trends And Strategic Implications

    Long-Term Trends And Strategic Implications ig-Term Trends Strategic Implications Emerging markets growth Capitalize and expand established EM footprint Capture increasing cross-border trade and payment flows (globally and intra-regionally) EM economic decoupling Reduced access to non- Lower relianc

  7. Slide 7: Citigroup Reorganization

    Citigroup Reorganization 2009 ($B) citi Revenues” $66.9 Expenses 31.7 Provisions 8.8 Transaction Net Income $14.7 Services Assets®) $1,079 Deposits $731 Sanirasa Banking Revenues''2) $34.8 Regional Consumer Expenses 14.7 Banking Provisions 31.4 Net Income) $(8.3) + MSSBJV Retail Partners Assets $547

  8. Slide 8: Citi Holdings — Assets

    Citi Holdings — Assets EOP $B OBAM GLCL oSAP| 398 1@'08 20°08 3c'08 40'08 10°09 20709 3ar09 4cre9 re Local Consumer Lending: $3583 Primerica 3% International Student Loan Corp CitiMortgage Auto Brokerage & Asset Management: $35B Retail Alternative Latin America Investments Asset Management Ms smith

  9. Slide 9: Citi Holdings — Special Asset Pool

    Citi Holdings — Special Asset Pool ag 09 a4 (0.2) 1@07 2007 %YO7 4007 10°08 z0'e 30s 4q’0a 10°09 2Q’08 3o'08 4Qq’o9 Citi Holdings Net Revenue Marks) ($B) 0.0 ro oi L H (12.1) (13.7) (17.2) 1007 «20°07 «3707 «40107 10°08 20°08 30°08 4aqte 1079 2079 30°09 4c'09 (1) Git Holeings net revenue marks incud

  10. Slide 10: Citi Holdings — Local Consumer Lending

    Citi Holdings — Local Consumer Lending Managed Revenues Expenses PB&C PPNR Managed NCLs® Loan Loss Reserves") 107 20°07 3C‘07 40°07 10°08 20°08 3cv08 Acros 1c709 2009 20'09 40°09 (1) Bectudes $(2.6)8 atersax goodwill mpsirmert charge. (2) Managed metrics are nor-GAAP financial measures. For adéition

  11. Slide 11: Citicorp — America's Global Bank

    Citicorp — America’s Global Bank » Unique global bank for corporations/institutions and consumers - Serving them in over 140 countries > Unmatched global network and emerging markets footprint - Well positioned to benefit from faster growing products and geographies > Leveraging core historical stre

  12. Slide 12: Citicorp — Unparalleled Global Network

    Citicorp — Unparalleled Global Network Global footprint, but not all businesses in all geographies ‘+ Consumer footprint focused on key US and EM cities + Trading desks in 75 countries ‘+ GTS and Corporate Bank most global footprint * Securities and Banking presence in 89 countries i Physical infras

  13. Slide 13: Emerging Markets: A Growing Opportunity

    Emerging Markets: A Growing Opportunity Global Revenue Pool() CAGR $3.9Tr T% $3.2Tr 5% 12% 2003 2012E Citicorp: 2009 Financials $60B $15B Developed Markets @ Emerging Markets Revenue $1.15Tr Emerging markets likely to represent over 55% of potential revenue growth Mgd. Assets” Deposits” (Q) Financia

  14. Slide 14: Citicorp — Institutional Clients Group

    Citicorp — Institutional Clients Group » Global network — presence in nearly 100 countries Revenues (SB) a — Market leader in Emerging Markets = 37% of revenues and 45% of net income in 2009 — Securities and Banking presence in 89 countries — Trading floors in 75 countries. Bi Physical infrastructur

  15. Slide 15: Citicorp — Transaction Services

    Citicorp — Transaction Services Key to overall strategy: establishes deep client ties with attractive returns, provides platform for follow-on business Strong Financial Performance > Unmatched global network 7004-2009 CAGR — Proprietary network in ~100 countries — Serves clients in >140 countries 29

  16. Slide 16: Citicorp — Transaction Services

    Citicorp — Transaction Services » Cash management and custody capabilities are core to the institutional client relationship: — World’s largest user of SWIFT by volume (7.7% market share in 2009) — WorldLink: processes cross-border payments to ~190 countries and over 130 currencies — Citi Direct: of

  17. Slide 17: Citicorp — Securities and Banking

    Citicorp — Securities and Banking > Strong client franchise with unique exposure to emerging markets — 92 banking clients transact with us in more than 50 countries — Trading floors in 75 countries — Established presence in Asia, Latin America and CEEMEA — Leading local markets FX business > Maintai

  18. Slide 18: Corporate Clients Coverage

    Corporate Clients Coverage Rev/ Clients Revenue Profile by International Presence Ginvestment Banking Markets GTS * ~1,000 clients active in more than 10 countries and average $10mm in annual revenue 110 21-30 51-60 61-70 71-80 # of Countries in Which Citi Generates Revenue with Client Rev/ Clients

  19. Slide 19: Citicorp — Regional Consumer Banking

    Citicorp — Regional Consumer Banking Presence in 39 Countries Emerging Markets Represent Half of Managed Revenues E | North oe America Latin America 2009: $29.4B “ “ Managed Revenues: Netincome EOP Managed Loans EOP Deposits =~ (9) Managed mets are non GAAP financial measures, Please seepage 2 fo ad

  20. Slide 20: A Concentrated Opportunity

    A Concentrated Opportunity 150 metro areas equal 30 of world’s GDP() Metro GDP: Top 10 largest cout S ($Tr) I Developed iad B Emerging Rest of ~ 20 ~e= % total GDP developed: 42 cities 31% Emerging Markets: 85 cities & 4, Gq %, a *% *, *, “ey (1) Caleulated using purchase power parity exchange rates

  21. Slide 21: Citicorp — North America Consumer Banking

    Citicorp — North America Consumer Banking > Key part of Citi’s global consumer network Important source of deposit funding A segment-led strategy: — Target mass affluent, urban, globally- minded customers — Customer mix skewed towards savers and investors Target retail segment already represents ~50

  22. Slide 22: Citicorp — North America Consumer Banking

    Citicorp — North America Consumer Banking Americandirines > 3rd largest issuer of cards Se Dexweddacom » Lend-centric model under pressure: re — Legislative and regulatory limits on a risk-based pricing Catt ce N23 Chthank Youn) gaia — Consumer deleveraging, spending ” less — Smaller but more profit

  23. Slide 23: Citicorp — International Consumer Banking

    Citicorp — International Consumer Banking » Focus on Emerging Markets — EM countries represented ~90% of 2009 International RCB revenues Targeting the mass affluent — Critical mass in key cities through branches, enhanced using alternative channels and perceptual scale Leader in cards — Top 3 in 20

  24. Slide 24: RCB + GTS: Citi At Work

    RCB + GTS: Citi At Work > Joint Consumer-ICG coverage of corporate clients ~ Leverage GTS into Consumer Banking through integrated payroll solutions > Strong base of ~4,000 ICG clients() > 5.7 mil in total customers in 35 countries > Growing source of new customers: 29% of new-to-bank retail custome

  25. Slide 25: Adjusted Return On Assets

    Adjusted Return On Assets Net Income‘) ex-Net Revenue Marks & LLR Builds as a % of Avg. Managed’) Assets By Segment GHoldings sCiticorp 1.56% 1.57% (0.11)% {0.47)% 2006 2007 2008 2005 (21) Net income from continuing operations (@) Managed metres are non-GAAP financial measures. Please see pages 25 a

  26. Slide 26: Adjusted Return On Assets

    Adjusted Return On Assets Net Income‘) ex-Net Revenue Marks & LLR Builds as a % of Avg. Managed’) Assets ci orp By Business Av 2009 6.23% 3.02% 2.56% 214% 145% 0.63% Int RCB N.A.RCB GTS (1) Net income from continuing operations (@) Managed metres are non-GAAP financial measures. Please s2e pages 27-

  27. Slide 27: Adjusted Return On Assets

    Adjusted Return On Assets Net Income‘) ex-Net Revenue Marks & LLR Builds as a % of Avg. Managed’) Assets (21) Net income from continuing operations (@) Managed metres are non-GAAP financial measures. Please sze page 41 for adéltional information on these metrics, Note: Adjusted ROA is a non-GAAP fin

  28. Slide 28: Adjusted Return On Assets

    Adjusted Return On Assets Net Income‘) ex-Net Revenue Marks & LLR Builds as a % of Avg. Managed’) Assets Citicorp + Corp/Other ma EOP Mgd. Assets ($T1)” -e ROA | 1.15% 1.00% oes sn : : : [| 2006 2007 2008 2008 (@) Net income from continuing operations (@) Managed metros are non-GAAP financial measur

  29. Slide 29: Citigroup — Managed Assets

    Citigroup — Managed” Assets (EOP $Tr) [ -©-Citicorp ~= Holdings —-Corp/Other 447 (1.50 0.02 0.03 0.04 0.04 @, Citicorp + Corp/Other: $1.38 1Q'07 20°07 30°07 4Q'07 10°08 20°08 30°08 40°08 10°09 20'03 30°08 4009 (2) Managed m Note: Corp/other "non-GAAP financial measures. Please see page 24 for aclton

  30. Slide 30: Citicorp + Corporate/Other

    Citicorp + Corporate/Other Managed Assets: Return on Assets: 2009 $1.38Tr 1.15%" Goals ~5% CAGR 1.25%-1.50%

  31. Slide 31: Fundamentally Different Company

    Fundamentally Different Company v Grow Citicorp’s core businesses: GTS, S&B, RCB v Client-focused strategy v Leverage unique global footprint with unmatched presence in emerging markets v Strong capital base v Well positioned to return to sustained profitability 30

  32. Slide 32: Forward-looking statements

    Certain statements in this document are “forward-looking statements’ within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially f

  33. Slide 33: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Managed-basis (Managed) presentations detail certain non-GAAP financial measures. Managed presentations (applicable only to North American credit card operations, as seouritizations are not dane in any other regions) include r

  34. Slide 34: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES stam “Managed Chicorp Revenues Les: Net impact from Card Securtizatons- Citicorp (GAAP Citicorp Revenues stant Managed Cit Holdings Revenues Less: Net impact from Card Securtiations- iti Holdings GAAP CitiHolaings Revenues sum

  35. Slide 35: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES 3 3 so 3 sam wm 2007 2a 3007 2007 108 2008 sa08 aos 3am uae Sa Sa Sa 1 7S 7a Sims § ume § ime Sua Sas 7360 78 eo2 2007 2a 3007 2007 008 2008 3008 <a08 > mS mS Om SO Ste ay ey ery EE Te ST a 7 7s 20.00 2q00 30.09 sa.0 3 me $Me

  36. Slide 36: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ci Avg. NAA. Cards. Assets Sec. Impact 2006 = $1,047 $68 2007 1,353 67 2008 1,256 70 2009 1,035 69 Adjusted ROA 2006 1.13% 2007 1.03% 2008 1.07% 2009 1.57% (1) rclues provision or unfunded ening comments Mgd. Avg. Assets S115

  37. Slide 37: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES 1s Adjusted ROA Reconciliation (SB) Adjustments Net Income from Cont. Ops. Toan Loss Revenue Goodwil Adjusted Holdings Reserves” Marks imp. Net Income 2006 94 $0.3 92 2007 (7) G8) (13.1) 82 2008 (36.0) (73) (25.2) (26) (0.9) 2

  38. Slide 38: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Citicorp RCB Adjusted ROA Reconcil ion Adjustments Net Income from Cont. Ops. Total ‘Adjusted Net Income NA Intl Total RCB NA Intl LLR NA Int} Total 2008 26 034 $60 oo 00 so. 26 34 $59 2007 «19237 S56 (0.1) 5) (06) 19 42 62 20

  39. Slide 39: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Citicorp RCB Retail Bank Adjusted ROA Reconciliation ($B) ‘Adjustments Net Income from Cont. Op: Total Adjusted Net Income NA Intl Total NA Intl LLR NA Intl Total 2006 «06 23 $3.0 00 02 $02 06 21 $28 2007 0.4 23 $24 (0.0) (02)

  40. Slide 40: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Citicorp RCB Cards Adjusted ROA Reconciliation ($B) Adjustments Net income from Cont. Ops. Total NA Intl Total NA Intl LR 2006 «20001 $3.0 00 (0.2) (80.2) 2007 «18 14 32 (0.0) (04) (0.4) 2003 (0.1) (0.0) (0.1) (0.2) (06) (08)

  41. Slide 41: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Citicorp $&B Adjusted ROA Reconciliation ($B) Citicorp GTS Adjusted ROA Reconciliation ($B) Adjustments Adi Adjustments Net Income Total Total Net Net Income Total Adjusted fromCont.Ops. LR © Marks —_Income from Cont. Ops. LR”

  42. Slide 42: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES iticorp Regional Adjusted ROA Reconciliation ($B) Net income from Cont. Ops. ‘Average GAAP Assets WA EMEA Latam Asia Total WA EMEA Latam Asia Total 2006 40 «420 32 «34 $125 2006 «© 486«« 250» 108-203 $1,047 2007 «38 «253548 S1

  43. Slide 43: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Citicorp + Corp Other Adjusted ROA Reconciliation ($B) Net Income from Cont. Ops. Citicorp Corp/Other 2006 $125 (81.2) 2007 146 (27) 2008 62 (22) 2009 148 76) Avg. NA. Cards —Assets, Sec. Impact 2006 $1,069 $68 2007 1,382 87 2

  44. Slide 44: Non-GAAP Financial Measures

    Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP FINANCIAL MEASURES sta 2007 2007 sar soo 2008 2008 2008 008 Managed Ch oldngs UCL Nets Suse Suse San ae Saas ST Sa aT se cs Holdgs Uc Nts Sas Saas Sas ase Sa SOD SAR SS sta 2000 2000 sao qos _ Fv 2000 Managed Ch ollings LCL Nets a TT se cs Holdi

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