Fill and Sign the Athletic Progress Report Template Form

Morgan Stanley Financials Conference Francesco Vanni d’Archirafi CEO Global Transaction Services February 2, 2011 Agenda 1. Citi’s Global Transaction Services (GTS) 2. Treasury and Trade Solutions (TTS) 3. Securities and Fund Services (SFS) 4. Positioned for Growth 1 GTS by the Numbers 12,600,000,000,000 $ assets under custody (12/31/2010) 3,000,000,000,000 $ value of transactions processed daily 333,000,000,000 $ average deposits and other customer liabilities (FY2010) 1,000,000,000 $ invested in new technology annually 119,000,000 prepaid cards issued, representing over $16 billion in funds paid 345 connections to cash and securities clearing systems across the globe 135 currencies handled by GTS’ global platforms and gateways 98 % local employees, providing global experience and local insight 96 countries where we issue commercial cards, 59 with local currency programs 96 countries where we have a banking license; 77 in the EM 93 % of the Fortune 500 companies use GTS to run their daily operations 59 countries where we have a securities clearing branch; expanding in the EM 24 languages available on our online banking platform #1 cash management bank (Euromoney & Global Finance, 2010) #1 bank issuer for corporate cards in the U.S. (Nilson Report, 2010) #1 global trade finance bank (Euromoney, Trade Finance, 2011) #1 securities services bank of the year (Bank of the Year Awards 2010 – The Banker) 2 Global Provider of Transaction Services Treasury and Trade Solutions 2010 Revenues $7.3B Securities and Fund Services 2010 Revenues $2.8B Description of business Key product lines Cash Management • Working capital solutions • Receivables • Payments • Cards • Liquidity and investments • Information services Trade • Trade financing and trade services solutions • Trade services • Trade finance • Export agency finance • Middle/back office support for beneficial owners and global investment managers • Fund services • OTC/Middle office services • Global custody • Securities finance • Post-trade processing for broker dealers and global custodian • Clearing/Settlement • Custody/Asset servicing • Transaction support for global capital markets issuance • Agency and trust • Depository receipts Investor Services Intermediary Services Issuer Services 3 GTS Financials NIR Revenues ($B) Expenses ($B) 13% CAGR 6% CAGR Non NIR $9.8 $10.0 4.5 4.1 4.4 $9.9 $8.1 $6.1 $3.8 $4.6 $5.2 $4.5 $4.9 2009 2010 3.8 2.9 3.2 4.3 5.5 5.7 5.6 2006 2007 2008 2009 2010 2006 2007 2008 Net Income ($B) Average Deposits (1) ($B) 23% CAGR 15% CAGR $3.3 $3.7 $3.7 $247 $2.4 $281 $304 2008 2009 $333 $191 $1.6 2006 2007 2008 2009 2010 2006 2007 2010 (1) Includes other customer liability balances. 4 GTS Financials Citicorp 2010 Key Metrics ($B) GTS Revenues ($B) 2010 Revenue $10.0B GTS $66 $36 Other Citicorp $15 $760 By Product $1,284 SFS 28% 85% 62% Trade 10% 55% Cash Mgmt 75% 86% 93% By Region Asia 27% 45% 15% N.A. 25% 25% 14% Revenues Expenses Net Income 7% EOP Deposits EOP Assets EMEA LatAm 15% 33% 5 Intermediating Flows GDP(1) (PPP $T) Developed EM CAGR $88 6%  Drivers are growing, particularly in EM 9%  These flows translate into a ~$250B market space for GTS: $74 $49 48% 51% 39% 52% 61% 2003 2010E 49%  GTS is in the business of intermediating flows 4% • Treasury and Trade Solutions: $200B+ (GTS market share: ~4%; market rank: #1) • Securities and Fund Services: $40B+ (GTS market share: ~7%; market rank: #4) 2013E Foreign Direct Investment Inflow(2) ($T) Developed EM $1.1 $1.1 CAGR 10% Exports ($T) Developed EM CAGR $20 10% 36% 37% 15% 64% 63% 2010E 2011E $18 $0.6 49% 53% 17% $9 34% 66% 2003 51% 47% 2009 2010E 5% 26% 74% 2003 (1) Gross domestic product on purchasing-power-parity (PPP) basis (per IMF, WEO database, October 2010). (2) Per United Nations Conference on Trade and Development (UNCTAD) Report. (3) Estimates for Trade available until 2011 (per IMF, WEO database, October 2010). Sources: IMF, World Economic Outlook Database, UNCTAD. 8% (3) 6 Competitive Advantages Largest Global Proprietary Network Local Market Knowledge Superior Product and Service Delivery Globally-Integrated Technology Platform and Infrastructure Deep and Embedded Client Relationships 7 Global Network GTS Operates in 96 Countries* and Serves Clients in 140 Countries Americas Argentina Bahamas Bermuda Brazil Canada Cayman Islands Chile Colombia Costa Rica Dominican Rep. Ecuador El Salvador Guatemala Haiti Honduras Jamaica Mexico Panama Paraguay Peru Puerto Rico Trinidad & Tobago Uruguay US Venezuela * and jurisdictions Europe ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; Austria Belgium Bulgaria Czech Republic Denmark Finland France Germany Greece Hungary Ireland Italy Jersey Kazakhstan Luxembourg Netherlands Norway Poland Portugal Romania Russia Serbia Slovakia Spain Sweden Asia-Pacific ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; Switzerland Turkey Ukraine UK ; ; ; ; Middle East / Africa Algeria Bahrain Cameroon Congo, D.R. Egypt Gabon Ghana Israel Ivory Coast Jordan Kenya Kuwait ; ; ; ; ; ; ; ; ; ; ; ; ; Lebanon Morocco Nigeria Pakistan Qatar Senegal South Africa Tanzania Tunisia Uganda U.A.E. Zambia TTS Network ; ; ; ; ; ; ; ; ; ; ; ; ; Australia Bangladesh Brunei China Hong Kong India Indonesia Japan Macau Malaysia New Zealand Philippines Singapore South Korea Sri Lanka Taiwan Thailand Vietnam ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; TTS and SFS Networks 8 Global Transaction Services Serving clients/ no physical infrastructure Physical infrastructure Proprietary Country Presence 2010 Average Liabilities ($B) 96 333 66 39 C Peer 1 291 248 62 Peer 2 Peer 3 34 Peer 4 148 25 Peer 5 C Peer 1 Peer 2 Peer 3 126 110 Peer 4 Peer 5 9 Did you know… We are the cash management bank in 16 We are the world’s largest user countries and direct clearing and custody of SWIFT, representing 7% of provider in 25 markets for a global their volumes investment bank We pay over 1 million UK pensioners living abroad in > 50 countries We process 13 million passport applications p.a. for the US Dept of State 1.4 million US Dept of Defense personnel across 45 countries and 25 agencies use a Citi commercial card We handle approximately 90% of the US Federal Government’s cross-border payments in 180 countries and 90 currencies We manage industry’s largest rebate program for a major telecom, issuing over 1 million prepaid cards per month We enable 4 million customers to make international mobile top-ups of prepaid airtime minutes from overseas We bank over 600 shared service centers globally, representing >40% of the shared services industry We help connect a major energy company’s supply chain ecosystem in 63 countries Citi provides custody services to GIC across Asia and in Latin America We distribute payroll and provide critical services to UN peacekeeping missions in Sudan, Congo, Lebanon, Ivory Coast, Haiti & Morocco Nearly 1 in 3 cross-border securities transactions are backed by GTS’ global infrastructure We are 1 of 2 banks managing the HK Government’s procurement program through our purchasing cards We facilitate >60,000 benefit payments a month in local currency to Australians living abroad in over 100 countries We process >2.5 million transactions a month – in-store and online – for a global technology provider in Australia 10 Agenda 1. Citi’s Global Transaction Services (GTS) 2. Treasury and Trade Solutions (TTS) 3. Securities and Fund Services (SFS) 4. Positioned for Growth 11 Treasury and Trade Solutions $7.3B(1) ‘Operating System’ for Corporate clients • Service 99% of Fortune 100, 93% of the Fortune Global 500 • Deliver processing and working capital efficiency via automation, centralization • 1,000+ leading local / regional corporate clients based in the emerging markets • Balance-sheet solutions leveraging cash & trade capabilities ‘Citi Inside’ for Financial Institutions • Clients include: ƒ 400+ of top 500 banks ƒ 200 of top 300 asset managers ƒ 50% of top hedge funds ƒ Top 10 insurance companies • Embedded banking infrastructure or platform provider • Trusted advisor for market access, regulatory knowledge and technical skill ‘Digital Infrastructure’ for Public Sector • Service the governments of ~120 countries • Over 700 public sector clients globally: ƒ 400 Central Government entities ƒ 200 Local and Regional Governments ƒ 130 Central Banks, SWF’s • Enable operating efficiencies and improved service • Provide greater visibility and control over financial flows (1) 2010 TTS Revenues. 12 TTS – Strategy Continuing to invest in our global network  Most comprehensive and global liquidity management network in the industry  For example, in 2010: – Expanded local currency commercial cards to 59 countries $7.3B(1) Helping clients manage accelerating complexity  Globalization  Digitalization – Mobile money – Digital identity and security – Information delivery – Expanded cash management cross-border sweep to 50 countries (1) 2010 TTS Revenues. 13 Agenda 1. Citi’s Global Transaction Services (GTS) 2. Treasury and Trade Solutions (TTS) 3. Securities and Fund Services (SFS) 4. Positioned for Growth 14 Securities and Fund Services $2.8B(1) Investor Services • Provides Global Custody, Securities Finance, Fund Administration, Advice and Distribution Support, and Middle Office solutions • Caters primarily to mutual funds, pension funds, banks, hedge funds, and insurers • Covers 94 markets worldwide Intermediary Services • Provides asset servicing and transaction functions through Direct Custody and Clearing • Primarily serves broker-dealers, banks and infrastructures, but also increasingly insurers, fund managers and other global investors • Covers 59 markets worldwide through industry-leading proprietary network Issuer Services • Provides Agency & Trust and Depository Receipt services • Clients include financial institutions, corporates and public entities • Covers 70+ countries worldwide (1) 2010 SFS Revenues. 15 SFS – Key Differentiators $2.8B(1) Unparalleled local market presence  Proprietary network in 59 countries  Able to serve clients in 94 markets worldwide Execution to Custody • End-to-end solution that integrates electronic execution and order routing with clearing and settlement, and custody and asset-servicing Advanced Pooling • Present clients with an aggregated view across jurisdictions, asset classes and investment styles PRISM • A reporting application for CIOs, Portfolio Managers and Risk Managers to monitor asset flows, performance and key risk characteristics of their portfolios Market Guide • Deliver timely and proactive local market intelligence through on the ground staff across the broadest proprietary network in the industry (1) 2010 SFS Revenues. 16 Agenda 1. Citi’s Global Transaction Services (GTS) 2. Treasury and Trade Solutions (TTS) 3. Securities and Fund Services (SFS) 4. Positioned for Growth 17 GTS is Well Positioned for Growth  Fundamental drivers are growing, particularly in EM • GTS has unique competitive advantages • Highly fragmented market  Opportunity to grow wallet share with existing clients  Targeting new client segments (e.g. public sector)  Continuing to build and invest in network and platform 18 Fundamental Drivers Are Growing Rapidly growing number of multinational corporations particularly in EM Developed Mkts. Emerging Mkts. 65,000 78,000 ~96,000 21% 24% 29% 79% 76% 435 clients use Citi’s global network in 21+ countries # Clients Revenues Non US Domiciled 2007 45% 435 $4.4B 54% 992 $6.0B 61% 71% US Domiciled 2002 66 $1.7B 2012E 55% 51+ Countries 46% 21+ Countries 39% 11+ Countries Source: UNCTAD World Investment Report, Citi estimates. Note: Multinational is defined as an enterprise that controls assets in a foreign entity. 19 Leveraging 5,000 Firm Relationships GTS Client and Revenue Mix (FY 2010) 100%=~23,000 100%=~$9.7B(1) 5% 3% All Other GTS Clients(2) y Up-tier wallet penetration of the next 2,000 clients 78% 92% Next 2,000 GTS Clients 9% Top 3,000 GTS Clients 13% # Clients y Deepen relationships with GTS’ top 3,000 clients y Capture rapidly growing EM-OECD and EM-EM flows by servicing needs of emerging markets champions y Focus on Top 30+ priority countries GTS Client Revenue (1) Does not equal overall 2010 GTS revenues as non-client attributable revenues are excluded. (2) Includes revenue from ~39,000 clients transferred to Regional Consumer Banking’s Local Commercial Bank (LCB). 20 Deepening Relationships with Core Clients ~80% of core clients are long-standing, multi-year relationships and contribute significantly to overall growth Energy Client Illustrative Example Year 2 Depth of GTS Relationship Year 1 Year 3 T&E Cards Malaysia T&E Cards Russia CEE Cash Management Africa Cash Management USA Central America A&T UK & Nigeria SBLCs Dom Republic SBLCs Kenya T&E Cards Canada Regional Collections, Pmts, Liquidity Mgmt Deal Africa Digital Identity Mgmt (Pilot) Export LC’s Ghana Trade Services Africa Central America ARG, BRA, Receivables CHL Collections, UK Pmts, A&T Liquidity SBLCs Africa & LATAM Coll/Pmts Liquidity Mgmt Singapore Year 4 T&E Cards Singapore Payroll Canada Receivables Russia Receivables Poland Canada Collections, Pmts, Liquidity Turkey Trade Finance Receivables Canada Dealer Finance CEE Year 5 Year 6 Russia Supplier Finance Western Europe Cards Renewal North America Cards T&E Cards UK Turkey Cash Business Kazakhstan Cash Business II Turkey Check collection Kenya LC Discounting Poland Cash RFP Kazakhstan Cash Management SPEX Deposits Nigeria WorldLink Card Acquiring North America LCs Mexico Cash Management USA Rebid Intl USD Global Overlay XML Dialog Thailand Commercial Cards Indonesia One Card Algeria Paylink Dialog Digital Identity eBAM Dialog Americas Europe Africa Asia Time 21 Targeting New Segments – Citi for Cities 17 of the world’s 20 largest cities are in the emerging markets y Urbanization: The number of megacities will double in the next 2 decades y Population Growth: EM represent 87% of the world’s population y Urban migration: >100 million people move to urban cities each year = >10 NYCs ICG GTS y y y y y y y Cash management Procurement management Payroll management Collection consolidation Subsidy distribution Supply chain optimization Pension administration POLICY & ADVISORY y Capital raising / debt structuring y Asset securitization y Risk management CITY ADMINISTRATION Mayor’s Office • City Treasurer • Dept of Operations • Dept of Finance • Pension Administrations GTS / Consumer URBAN ECOSYSTEMS Public Services • Roads & Transportation • Municipal Tax & Utilities • Education • Hospitals & Healthcare • Ports of Entry • Workplace y y y y Banking Payments Rewards Security 22 Conclusions GTS is a large scale global provider of transaction services GTS has unique competitive advantages and is well positioned to capture growth in global flows GTS is investing to remain at the forefront of product capabilities and service 23 Certain statements in this document are “forward-looking statements” within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, including the precautionary statements included in this document and those contained in Citigroup’s filings with the U.S. Securities and Exchange Commission, including without limitation the “Risk Factors” section of Citigroup’s 2009 Form 10-K. 24 Morgan Stanley Financials Conference Francesco Vanni d’Archirafi CEO Global Transaction Services February 2, 2011