citigroup January 17, 2002 - Fourth Quarter Financial Supplement

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Slide 1: CITIGROUP - QUARTERLY FINANCIAL DATA SUPPLEMENT Page Number Citigroup Consolidated Financial Summary Segment Net Revenues Segment Core Income 1 2 3 Segment Detail Global Consumer: Banking / Lending Citibanking North America Mortgage Banking North America Cards CitiFinancial Insurance Primerica Financial Services Personal Lines International Western Europe Japan Asia Mexico Latin America Central & Eastern Europe, Middle East & Africa 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Global Corporate: Corporate and Investment Bank Salomon Smith Barney Emerging Markets Corporate Banking and Global Transaction Services Commercial Lines Insurance Global Investment Management And Private Banking: Travelers Life and Annuity The Citigroup Private Bank Citigroup Asset Management Investment Activities Citigroup Supplemental Detail Consolidated Statement of Income Earnings Analysis - Managed Basis Consumer Loan Delinquency Amounts, Net Credit Losses and Ratios Details of Credit Loss Experience Cash Basis and Renegotiated Loans, Other Real Estate Owned and Other Repossessed Assets Insurance Investment Portfolio Global Cards Global Consumer Finance Global Corporate - Supplemental Product and Regional Results Citigroup Emerging Markets Global Wealth Management 24 25 26 27 28 29 30 31 32 33 34 35 Citicorp Supplemental Data Slide 2: CITIGROUP -- FINANCIAL SUMMARY (In millions of dollars, except per share amounts) Citigroup, the preeminent global financial services company with 192 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions a complete range of financial products and services. 1Q 2000 Core Income Restructuring and Merger-Related Items Cumulative Effect of Accounting Changes Net Income $ 3,939 (83) 3,856 $ 2Q 2000 3,341 (2) 3,339 $ 3Q 2000 3,529 (45) 3,484 $ 4Q 2000 3,331 (491) 2,840 $ 1Q 2001 3,660 (80) (42) 3,538 $ 2Q 2001 3,785 (133) (116) 3,536 $ 3Q 2001 3,262 (85) 3,177 $ 4Q 2001 3,862 13 3,875 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 16% $ YTD 4Q 2000 14,140 (621) 13,519 $ YTD 4Q 2001 14,569 (285) (158) 14,126 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 3% $ $ $ $ $ $ $ $ 36% $ $ 4% Basic Earnings Per Share: Core Income Net Income Weighted average common shares applicable to Basic EPS Preferred Dividends - Basic $ $ 0.79 0.77 $ $ 0.67 0.67 $ $ 0.70 0.69 $ $ 0.66 0.57 $ $ 0.73 0.70 $ $ 0.75 0.70 $ $ 0.64 0.62 $ $ 0.75 0.75 14% 32% $ $ 2.82 2.69 $ $ 2.87 2.79 2% 4% 4,975.5 $ 30 $ 4,977.1 29 $ 4,978.7 29 $ 4,976.5 28 $ 4,984.7 28 $ 4,979.6 28 $ 5,060.8 28 $ 5,101.8 26 $ 4,977.0 116 $ 5,031.7 110 Diluted Earnings Per Share: Core Income Net Income Core diluted earnings per share excluding goodwill amortization Adjusted weighted average common shares applicable to Diluted EPS Preferred Dividends - Diluted $ $ 0.76 0.75 $ $ 0.65 0.65 $ $ 0.68 0.67 $ $ 0.65 0.55 $ $ 0.71 0.69 $ $ 0.74 0.69 $ $ 0.63 0.61 $ $ 0.74 0.74 14% 35% $ $ 2.74 2.62 $ $ 2.81 2.72 3% 4% $ 0.78 $ 0.67 $ 0.70 $ 0.67 $ 0.73 $ 0.76 $ 0.65 $ 0.76 13% $ 2.82 $ 2.89 2% 5,115.4 $ 30 $ 5,121.6 29 $ 5,134.8 29 $ 5,116.8 28 $ 5,110.0 28 $ 5,100.0 28 $ 5,169.0 28 $ 5,209.1 26 $ 5,122.2 116 $ 5,147.0 110 Common Shares Outstanding, at period end 5,028.4 5,027.2 5,026.2 5,022.2 5,033.7 5,026.1 5,144.2 5,148.7 5,022.2 5,148.7 Tier 1 Capital Ratio Total Capital Ratio Leverage Ratio 9.00% 11.47% 6.60% 8.03% 10.34% 5.99% 7.76% 9.96% 5.91% 8.38% 11.23% 5.97% 8.56% 11.31% 6.10% 8.82% 11.49% 6.17% 8.20% 10.77% 5.65% 8.4% * 10.9% * 5.6% * 8.38% 11.23% 5.97% 8.4% 10.9% 5.6% * * * Total Assets, at period end (in billions) Stockholders' Equity, at period end (in billions) Stockholders' Equity and Trust Securities, at period end (in billions) $ $ $ 821.0 59.9 64.8 $ $ $ 877.2 61.4 66.3 $ $ $ 896.6 63.7 68.6 $ $ $ 902.2 66.2 71.1 $ $ $ 944.3 68.7 73.6 $ $ $ 953.4 70.5 75.1 $ $ $ 1,068.2 78.4 85.5 $ $ $ 1,050 * 81.2 * 88.4 * $ $ $ 902.2 66.2 71.1 $ $ $ 1,050 81.2 88.4 * * * Book Value Per Share, at period end $ 11.57 $ 11.86 $ 12.33 $ 12.84 $ 13.29 $ 13.68 $ 14.90 $ 15.47 * $ 12.84 $ 15.47 * Return on Common Equity (Net Income) Return on Common Equity (Core Income) * Preliminary 26.7% 27.3% 22.9% 22.9% 22.7% 22.9% 17.9% 21.0% 21.7% 22.5% 20.9% 22.4% 17.1% 17.5% 19.5% * 19.4% * 22.4% 23.5% 19.7% 20.4% * * Page 1 Slide 3: CITIGROUP -- SEGMENT NET REVENUES (In millions of dollars) 1Q 2000 Global Consumer: Banking / Lending Citibanking North America Mortgage Banking North America Cards CitiFinancial Total Banking / Lending Insurance Primerica Financial Services Personal Lines Total Insurance International Western Europe Japan $ 579 223 2,551 1,222 4,575 $ 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) YTD 4Q 2000 YTD 4Q 2001 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 566 226 2,557 1,269 4,618 $ 566 225 2,737 1,262 4,790 $ 562 238 2,911 1,318 5,029 $ 612 242 3,004 1,339 5,197 $ 663 268 3,099 1,390 5,420 $ 714 260 3,352 1,436 5,762 $ 725 267 3,573 1,469 6,034 29% 12% 23% 11% 20% $ 2,273 912 10,756 5,071 19,012 $ 2,714 1,037 13,028 5,634 22,413 19% 14% 21% 11% 18% 472 1,034 1,506 479 1,050 1,529 474 1,058 1,532 490 1,088 1,578 490 1,080 1,570 497 1,106 1,603 493 1,132 1,625 499 1,146 1,645 2% 5% 4% 1,915 4,230 6,145 1,979 4,464 6,443 3% 6% 5% 618 591 600 662 579 713 591 815 622 825 602 818 651 859 680 880 15% 8% 2,388 2,781 2,555 3,382 7% 22% Asia Mexico (1) Latin America Central & Eastern Europe, Middle East and Africa Total Emerging Markets Consumer Banking Total International e-Consumer Other 539 197 420 100 1,256 2,465 31 34 8,611 519 136 417 106 1,178 2,440 28 (18) 8,597 521 119 401 112 1,153 2,445 76 95 8,938 517 151 418 120 1,206 2,612 35 58 9,312 540 151 409 130 1,230 2,677 47 9 9,500 536 161 406 135 1,238 2,658 35 56 9,772 554 683 396 140 1,773 3,283 54 62 10,786 571 1,122 169 143 2,005 3,565 40 (77) 11,207 10% NM (60%) 19% 66% 36% 14% NM 20% 2,096 603 1,656 438 4,793 9,962 170 169 35,458 2,201 2,117 1,380 548 6,246 12,183 176 50 41,265 5% NM (17%) 25% 30% 22% 4% (70%) 16% Total Global Consumer Global Corporate: Corporate Finance Private Client Corporate and Investment Bank Emerging Markets Corporate Banking and Global Transaction Services Commercial Lines 3,381 1,917 5,298 1,462 1,719 8,479 3,123 1,690 4,813 1,546 1,788 8,147 3,249 1,681 4,930 1,578 1,928 8,436 3,077 1,628 4,705 1,650 2,062 8,417 4,130 1,553 5,683 1,801 1,970 9,454 3,180 1,512 4,692 1,773 2,018 8,483 2,887 1,451 4,338 1,699 1,977 8,014 3,255 1,438 4,693 1,655 1,998 8,346 6% (12%) (3%) (1%) 12,830 6,916 19,746 6,236 7,497 33,479 13,452 5,954 19,406 6,928 7,963 34,297 5% (14%) (2%) 11% 6% 2% Total Global Corporate Global Investment Management and Private Banking: Travelers Life and Annuity The Citigroup Private Bank Citigroup Asset Management 1,010 363 423 1,796 (89) 1,042 983 339 461 1,783 (159) 426 899 337 471 1,707 (169) 496 999 370 490 1,859 (280) 345 1,130 390 505 2,025 (165) 233 975 375 477 1,827 (127) 360 875 365 523 1,763 (105) (164) 1,108 406 424 1,938 478 11% 10% (13%) 4% 100% 39% 12% 3,891 1,409 1,845 7,145 (697) 2,309 4,088 1,536 1,929 7,553 (397) 907 5% 9% 5% 6% 43% (61%) 8% Total Global Investment Management & Private Banking Corporate / Other Investment Activities Total Adjusted Net Revenues SUPPLEMENTAL INFORMATION: Citigroup Emerging Markets - Excl. Investment Activities Global Wealth Management Global Cards Global Consumer Finance $ $ $ $ $ 19,839 $ 18,794 $ 19,408 $ 19,653 $ 21,047 $ 20,315 $ 20,294 $ 21,969 $ 77,694 $ 83,625 2,814 4,386 3,112 1,842 $ $ $ $ 2,776 4,124 3,156 1,936 $ $ $ $ 2,767 4,041 3,322 1,965 $ $ $ $ 2,898 4,126 3,515 2,136 $ $ $ $ 3,105 4,228 3,595 2,197 $ $ $ $ 3,071 3,981 3,690 2,251 $ $ $ $ 3,541 3,922 4,040 2,350 $ $ $ $ 3,747 4,194 4,306 2,433 29% 2% 23% 14% $ $ $ $ 11,255 16,677 13,105 7,879 $ $ $ $ 13,464 16,325 15,631 9,231 20% (2%) 19% 17% (1) Comprises both Consumer and Corporate operations in Mexico, including the results of Banamex (excluding Investment Activities) from August 2001 forward. NM Not meaningful Reclassified to conform to the current period's presentation. Page 2 Slide 4: CITIGROUP -- SEGMENT CORE INCOME (In millions of dollars) 1Q 2000 Global Consumer: Banking / Lending Citibanking North America Mortgage Banking North America Cards CitiFinancial Total Banking / Lending Insurance Primerica Financial Services Personal Lines Total Insurance International Western Europe Japan $ 122 66 380 179 747 $ 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) YTD 4Q 2000 YTD 4Q 2001 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 125 71 388 205 789 $ 121 77 492 213 903 $ 128 83 527 213 951 $ 145 77 467 212 901 $ 144 88 455 286 973 $ 151 92 573 308 1,124 $ 165 96 638 320 1,219 29% 16% 21% 50% 28% $ 496 297 1,787 810 3,390 $ 605 353 2,133 1,126 4,217 22% 19% 19% 39% 24% 119 74 193 125 82 207 124 68 192 124 83 207 125 87 212 128 39 167 125 29 154 134 53 187 8% (36%) (10%) 492 307 799 512 208 720 4% (32%) (10%) 96 150 91 173 94 204 103 202 110 198 106 229 124 244 143 257 39% 27% 384 729 483 928 26% 27% Asia Mexico (1) Latin America Central & Eastern Europe, Middle East and Africa Total Emerging Markets Consumer Banking Total International e-Consumer Other 141 43 56 15 255 501 (59) (39) 1,343 139 6 61 15 221 485 (37) (34) 1,410 139 (3) 57 12 205 503 (31) (7) 1,560 131 10 76 8 225 530 (33) 36 1,691 147 4 58 18 227 535 (24) 4 1,628 145 11 67 21 244 579 (22) (8) 1,689 160 124 63 24 371 739 (14) 15 2,018 159 207 (68) 26 324 724 (17) (82) 2,031 21% NM NM NM 44% 37% 48% NM 20% 550 56 250 50 906 2,019 (160) (44) 6,004 611 346 120 89 1,166 2,577 (77) (71) 7,366 11% NM (52%) 78% 29% 28% 52% (61%) 23% Total Global Consumer Global Corporate: Corporate Finance Private Client Corporate and Investment Bank Emerging Markets Corporate Banking and Global Transaction Services Commercial Lines 921 359 1,280 302 247 1,829 649 254 903 322 272 1,497 637 251 888 372 317 1,577 391 208 599 407 257 1,263 824 195 1,019 425 278 1,722 719 203 922 440 286 1,648 688 179 867 428 (136) 1,159 514 187 701 351 263 1,315 31% (10%) 17% (14%) 2% 4% 2,598 1,072 3,670 1,403 1,093 6,166 2,745 764 3,509 1,644 691 5,844 6% (29%) (4%) 17% (37%) (5%) Total Global Corporate Global Investment Management and Private Banking: Travelers Life and Annuity The Citigroup Private Bank Citigroup Asset Management 187 80 93 360 (243) 650 202 79 87 368 (189) 255 179 79 93 351 (243) 284 209 85 72 366 (183) 194 210 97 89 396 (217) 131 231 93 80 404 (196) 240 178 93 93 364 (159) (120) 202 95 74 371 (134) 279 (3%) 12% 3% 1% 27% 44% 777 323 345 1,445 (858) 1,383 821 378 336 1,535 (706) 530 6% 17% (3%) 6% 18% (62%) Total Global Investment Management & Private Banking Corporate / Other Investment Activities Total Core Income SUPPLEMENTAL INFORMATION: Citigroup Emerging Markets - Excl. Investment Activities Global Wealth Management Global Cards Global Consumer Finance $ $ $ $ $ 3,939 $ 3,341 $ 3,529 $ 3,331 $ 3,660 $ 3,785 $ 3,262 $ 3,862 16% $ 14,140 $ 14,569 3% 682 881 475 305 $ $ $ $ 600 772 512 356 $ $ $ $ 633 757 604 383 $ $ $ $ 707 715 645 392 $ $ $ $ 759 735 593 389 $ $ $ $ 770 748 570 493 $ $ $ $ 883 687 736 536 $ $ $ $ 769 730 835 574 9% 2% 29% 46% $ $ $ $ 2,622 3,125 2,236 1,436 $ $ $ $ 3,181 2,900 2,734 1,992 21% (7%) 22% 39% (1) Comprises both Consumer and Corporate operations in Mexico, including the results of Banamex (excluding Investment Activities) from August 2001 forward. NM Not meaningful Reclassified to conform to the current period's presentation. Page 3 Slide 5: GLOBAL CONSUMER - Banking/Lending CITIBANKING NORTH AMERICA (1) (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Loan Losses Core Income Before Taxes Income Taxes Core IncomeMortgage BankingMortgage Banking Average Assets (in billions of dollars) Return on Assets $ $ 9 5.45% $ 579 366 9 204 82 $ $ $ 2Q 2000 566 349 7 210 85 125 9 5.59% $ $ $ 3Q 2000 566 356 7 203 82 122 121 9 5.35% $ $ $ 4Q 2000 562 352 6 204 76 128 9 5.66% $ $ $ 1Q 2001 612 365 7 240 95 145 9 6.53% $ $ $ 2Q 2001 663 415 13 235 91 144 9 6.42% $ $ $ 3Q 2001 714 439 28 247 96 151 17 3.52% $ $ $ 4Q 2001 725 432 22 271 106 165 16 4.09% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 29% 23% NM 33% 39% 29% 78% $ $ $ YTD 4Q 2000 2,273 1,423 29 821 325 496 9 5.51% $ $ $ YTD 4Q 2001 2,714 1,651 70 993 388 605 13 4.65% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 19% 16% NM 21% 19% 22% 44% Average Loans (in billions of dollars) Average Customer Deposits (in billions of dollars) EOP Accounts (in millions) Non-Interest Revenue as % of Total Revenues Net Credit Loss Ratio (1) Loans 90+Days Past Due: In millions of dollars % Proprietary Mutual Funds / UIT Proprietary Money Market Funds Total Proprietary Funds Third Party Funds Mutual Fund / UIT Sales at NAV (in millions of dollars) Variable Annuity Premiums & Deposits (in millions of dollars) Branches ATM-only locations Proprietary ATMs $ $ 7.0 43.7 6.3 27.4% 1.00% $ $ 7.0 44.5 6.4 26.9% 0.88% $ $ 6.9 45.0 6.5 26.9% 0.86% $ $ 7.0 46.1 6.7 25.2% 0.90% $ $ 7.0 47.9 6.7 22.7% 0.85% $ $ 7.0 48.1 6.8 29.9% 1.03% $ $ 11.6 56.0 7.8 21.4% 1.12% $ $ 11.7 57.5 7.7 27.0% 1.00% 67% 25% 15% $ $ 7.0 44.8 $ $ 9.3 52.4 33% 17% 26.4% 25.3% $ 47 0.67% 373 1,015 1,388 947 2,335 270 371 153 2,092 $ 33 0.47% 124 679 803 599 1,402 330 367 149 2,081 $ 33 0.46% 280 748 1,028 426 1,454 385 367 155 2,079 $ 35 0.48% 280 690 970 346 1,316 381 367 139 2,063 $ 41 0.59% 331 958 1,289 420 1,709 304 368 153 2,048 $ 41 0.58% 255 722 977 294 1,271 302 368 156 2,043 $ 85 0.68% 251 339 590 392 982 316 446 162 2,174 $ 96 0.82% 229 278 507 460 967 372 445 165 2,175 NM $ $ $ $ $ $ $ $ (18%) (60%) (48%) 33% (27%) (2%) 21% 19% 5% $ 1,057 3,132 4,189 2,318 6,507 1,366 $ 1,066 2,297 3,363 1,566 4,929 1,294 1% (27%) (20%) (32%) (24%) (5%) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ (1) Includes the results of The European American Bank from July 2001 forward. (2) The 4Q00 net credit loss ratio includes a 10 basis point increase related to the adoption of revised FFIEC write-off policies. NM Not meaningful Reclassified to conform to the current period's presentation. Page 4 Slide 6: GLOBAL CONSUMER - Banking/Lending MORTGAGE BANKING (1) (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Loan Losses Core Income Before Taxes and Minority Interest Income Taxes Minority Interest, Net of Tax Core Income Average Assets (in billions of dollars) Return on Assets $ $ $ 223 99 9 115 44 5 66 34 0.78% $ $ $ 2Q 2000 226 102 (1) 125 48 6 71 37 0.77% $ $ $ 3Q 2000 225 92 1 132 49 6 77 42 0.73% $ $ $ 4Q 2000 238 102 (7) 143 55 5 83 45 0.73% $ $ $ 1Q 2001 242 109 133 51 5 77 47 0.66% $ $ $ 2Q 2001 268 116 (3) 155 60 7 88 48 0.74% $ $ $ 3Q 2001 260 104 (4) 160 62 6 92 47 0.78% $ $ $ 4Q 2001 267 102 (5) 170 65 9 96 48 0.79% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 12% 29% 19% 18% 80% 16% 7% $ $ $ YTD 4Q 2000 912 395 2 515 196 22 297 40 0.74% $ $ $ YTD 4Q 2001 1,037 431 (12) 618 238 27 353 48 0.74% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 14% 9% NM 20% 21% 23% 19% 20% EOP Accounts Owned and Serviced (in millions): Student Loans Mortgages Consumer Finance Total Owned and Serviced Average Loans (in billion of dollars): Mortgages (2) Student Loans Consumer Finance Average Loans - On Balance Sheet Other Serviced Loans Total Mortgage Originations (in billions of dollars) Student Loan Originations Consumer Finance Originations $ $ $ $ 2.8 0.7 0.1 3.6 3.0 0.9 0.1 4.0 3.3 0.9 0.1 4.3 3.5 0.9 0.1 4.5 3.5 0.9 0.1 4.5 3.5 0.9 0.1 4.5 3.7 0.9 0.1 4.7 3.8 0.9 0.1 4.8 9% 7% $ 20.1 11.6 0.4 32.1 54.1 86.2 3.7 1.0 0.2 $ 21.6 12.3 0.5 34.4 59.9 $ 23.8 14.2 0.7 38.7 61.8 $ 25.9 15.3 0.9 42.1 62.6 $ 26.8 16.8 1.0 44.6 64.2 $ 27.3 17.2 1.2 45.7 66.0 $ 25.8 17.6 1.4 44.8 69.6 $ 25.3 18.3 1.6 45.2 70.1 (2%) 20% 78% 7% 12% 10% 73% 100% $ 22.9 13.4 0.5 36.8 59.6 $ 26.3 17.5 1.3 45.1 67.5 15% 31% NM 23% 13% 17% 62% 64% $ $ $ $ 94.3 5.1 0.7 0.3 $ $ $ $ 100.5 5.7 1.5 0.3 $ $ $ $ 104.7 5.5 1.2 0.3 $ $ $ $ 108.8 5.9 1.5 0.3 $ $ $ $ 111.7 8.8 0.5 0.4 $ $ $ $ 114.4 8.1 1.2 0.5 $ $ $ $ 115.3 9.5 1.2 0.6 $ $ $ $ 96.4 20.0 4.4 1.1 $ $ $ $ 112.6 32.3 4.4 1.8 Net Credit Loss Ratio (3) Loans 90+ Days Past Due: In millions of dollars % 0.19% 0.08% 0.09% 0.27% 0.06% 0.08% 0.10% 0.12% $ 733 2.28% $ 722 2.10% $ 723 1.88% $ 846 2.01% $ 957 2.14% $ 1,191 2.61% $ 1,204 2.74% $ 1,157 2.53% 37% (1) Includes Student Loans. (2) Includes loans held for sale. (3) The 4Q00 net credit loss ratio includes a 16 basis point increase related to the adoption of revised FFIEC write-off policies. NM Not meaningful Reclassified to conform to the current period's presentation. Page 5 Slide 7: GLOBAL CONSUMER - Banking/Lending NORTH AMERICA CARDS (1) (In millions of dollars) 1Q 2000 Adjusted Revenues, Net of Interest Expense Adjusted Operating Expenses Adjusted Provision for Loan Losses Core Income Before Taxes Income Taxes Core Income Managed Average Assets (in billions of dollars) Return on Managed Assets CITI CARDS DATA (2): (in billions of dollars) Net Interest Revenue (in millions of dollars) (3) % of Average Managed Loans Risk Adjusted Revenue (in millions of dollars) (4) % of Average Managed Loans Adjusted Operating Expenses as % of Average Managed Loans End of Period Managed Receivables Total EOP Open Accounts (in millions) Total Sales End of Period Loans: On Balance Sheet Securitized Held for Sale Total Average Loans: On Balance Sheet Securitized Held for Sale Total Net Credit Losses (in millions of dollars): On Balance Sheet Securitized Held for Sale Total Coincident Net Credit Loss Ratio 12 Month Lagged Net Credit Loss Ratio Loans 90+ Days Past Due: In millions of dollars % (1) Includes Citi Cards (bankcards and private-label cards) and Diners Club. (2) Excludes Diners Club (3) Includes delinquency and other risk-based charges. Reclassified to conform to the current period's presentation. $ $ $ $ $ $ 2,551 957 990 604 224 380 90 1.70% $ $ $ 2Q 2000 2,557 975 961 621 233 388 94 1.66% $ $ $ 3Q 2000 2,737 1,005 957 775 283 492 101 1.94% $ $ $ 4Q 2000 2,911 1,017 1,065 829 302 527 106 1.98% $ $ $ 1Q 2001 3,004 1,041 1,221 742 275 467 106 1.79% $ $ $ 2Q 2001 3,099 1,003 1,371 725 270 455 106 1.72% $ $ $ 3Q 2001 3,352 1,004 1,434 914 341 573 109 2.09% $ $ $ 4Q 2001 3,573 1,021 1,567 985 347 638 110 2.30% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 23% 47% 19% 15% 21% 4% $ $ $ YTD 4Q 2000 10,756 3,954 3,973 2,829 1,042 1,787 98 1.82% $ $ $ YTD 4Q 2001 13,028 4,069 5,593 3,366 1,233 2,133 108 1.98% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 21% 3% 41% 19% 18% 19% 10% 1,956 9.29% 1,471 6.99% 4.19% 86.1 78.5 48.4 $ 1,899 8.66% 1,516 6.91% 4.14% $ 2,055 8.62% 1,701 7.14% 3.93% $ 2,198 8.83% 1,768 7.10% 3.79% $ 2,374 9.61% 1,709 6.92% 3.93% $ 2,411 9.61% 1,627 6.49% 3.73% $ 2,685 10.34% 1,850 7.13% 3.61% $ 2,906 11.04% 1,934 7.35% 3.50% 32% $ 8,108 8.84% 6,456 7.04% $ 10,376 10.17% 7,120 6.98% 28% $ $ $ $ $ $ $ $ 9% $ $ 10% $ $ 92.3 83.9 55.3 $ $ 97.7 89.4 55.2 $ $ 103.2 90.8 56.8 $ $ 100.5 93.2 51.2 $ $ 103.9 94.1 55.6 $ $ 105.6 93.4 55.0 $ $ 108.9 92.9 56.7 6% 2% - $ 215.7 $ 218.5 1% $ 27.9 54.5 3.4 85.8 $ 33.5 51.6 6.5 91.6 $ 37.9 53.3 5.8 97.0 $ 37.0 57.2 8.1 102.3 $ 32.6 60.1 7.0 99.7 $ 32.6 61.4 9.0 103.0 $ 33.0 65.2 6.5 104.7 $ 34.2 67.0 6.5 107.7 (8%) 17% (20%) 5% $ $ $ $ $ $ $ $ $ 26.9 54.7 3.1 84.7 $ 32.1 51.7 4.4 88.2 $ 36.9 51.1 6.8 94.8 $ 36.9 55.4 6.7 99.0 $ 34.7 58.5 7.0 100.2 $ 33.5 59.7 7.4 100.6 $ 33.5 61.3 8.2 103.0 $ 33.0 64.9 6.5 104.4 (11%) 17% (3%) 5% $ 33.2 53.2 5.3 91.7 $ 33.7 61.1 7.3 102.1 2% 15% 38% 11% $ $ $ $ $ $ $ $ $ $ $ 340 619 21 980 4.65% 5.11% $ 374 534 40 948 4.32% 4.81% $ 377 509 56 942 3.95% 4.67% $ 420 570 61 1,051 4.22% 5.16% $ 465 668 63 1,196 4.84% 5.72% $ 481 812 90 1,383 5.51% 6.29% $ 541 790 92 1,423 5.48% 5.96% $ 615 870 69 1,554 5.91% 6.23% 46% 53% 13% 48% $ 1,511 2,232 178 3,921 $ 2,102 3,140 314 5,556 39% 41% 76% 42% $ $ $ $ $ $ $ $ $ $ $ 1,281 1.49% $ 1,156 1.26% $ 1,295 1.34% $ 1,497 1.46% $ 1,836 1.84% $ 1,775 1.72% $ 1,908 1.82% $ 2,135 1.98% 43% (4) Risk Adjusted Revenue is adjusted revenues less net credit losses. NM Not meaningful Page 6 Slide 8: GLOBAL CONSUMER - Banking/Lending CITIFINANCIAL (In millions of dollars) 1Q 2000 Adjusted Revenues, Net of Interest Expense* Adjusted Operating Expenses Adjusted Provision for Benefits, Claims, and Credit Losses Core Income Before Taxes Income Taxes Core Income Managed Average Assets (in billions of dollars) Return on Managed Assets $ $ $ 1,222 536 404 282 103 179 51 1.41% $ $ $ 2Q 2000 1,269 571 373 325 120 205 55 1.50% $ $ $ 3Q 2000 1,262 568 362 332 119 213 58 1.46% $ $ $ 4Q 2000 1,318 581 407 330 117 213 61 1.39% $ $ $ 1Q 2001 1,339 569 428 342 130 212 63 1.36% $ $ $ 2Q 2001 1,390 502 434 454 168 286 65 1.76% $ $ $ 3Q 2001 1,436 492 451 493 185 308 66 1.85% $ $ $ 4Q 2001 1,469 443 517 509 189 320 67 1.89% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 11% (24%) 27% 54% 62% 50% 10% $ $ $ YTD 4Q 2000 5,071 2,256 1,546 1,269 459 810 56 1.45% $ $ $ YTD 4Q 2001 5,634 2,006 1,830 1,798 672 1,126 65 1.73% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 11% (11%) 18% 42% 46% 39% 16% Net receivables (in billions of dollars): Real estate secured loans - Other Real estate secured loans - PFS Sourced Personal loans Auto Sales finance and other Total Number of offices Average yield Average net interest margin Net credit loss ratio Loans 90+ Days Past Due: In millions of dollars % $ 29.6 4.1 9.8 3.0 2.8 $ 31.1 4.4 9.7 3.8 2.6 $ 32.0 4.7 9.7 4.2 2.6 $ 32.9 5.2 9.9 4.6 2.7 $ 34.7 5.6 9.8 5.2 2.4 $ 34.2 6.4 9.8 5.8 2.3 $ 34.3 7.1 9.6 6.3 2.4 $ 33.5 7.8 9.7 6.5 2.7 2% 50% (2%) 41% 9% (18%) 14.14% 7.79% 13.50% 7.99% $ 49.3 2,767 14.26% 8.21% 2.92% $ 51.6 2,738 14.16% 7.84% 2.49% $ 53.2 2,699 14.11% 7.61% 2.33% $ 55.3 2,720 14.03% 7.55% 2.57% $ 57.7 2,430 13.93% 7.70% 2.57% $ 58.5 2,336 13.69% 7.85% 2.55% $ 59.7 2,320 13.38% 7.95% 2.53% $ 60.2 2,221 13.02% 8.45% 3.14% $ 1,044 2.11% $ 1,033 1.98% $ 1,084 2.00% $ 1,272 2.23% $ 1,599 2.77% $ 1,757 3.00% $ 1,909 3.20% $ 2,002 3.32% 57% * Excludes realized gains / (losses) on investments. Reclassified to conform to the current period's presentation. Page 7 Slide 9: GLOBAL CONSUMER - Insurance PRIMERICA FINANCIAL SERVICES (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense* Adjusted Operating Expenses Provision for Benefits and Claims Core Income Before Taxes Income Taxes Core Income $ 472 162 125 185 66 119 $ 2Q 2000 479 159 126 194 69 125 $ 3Q 2000 474 177 106 191 67 124 $ 4Q 2000 490 161 139 190 66 124 $ 1Q 2001 490 169 128 193 68 125 $ 2Q 2001 497 172 127 198 70 128 $ 3Q 2001 493 171 129 193 68 125 $ 4Q 2001 499 171 122 206 72 134 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 2% 6% (12%) 8% 9% 8% $ YTD 4Q 2000 1,915 659 496 760 268 492 $ YTD 4Q 2001 1,979 683 506 790 278 512 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 3% 4% 2% 4% 4% 4% $ $ $ $ $ $ $ $ $ $ Life Insurance Face value (in billions) of: Life insurance issued Life insurance in force Annualized issued premiums Direct premiums Earned premiums Other Products Mutual fund sales at NAV: Proprietary Other funds Total U.S. mutual fund sales Mutual fund sales - Canada Total mutual fund sales Cash advanced on $.M.A.R.T. and $.A.F.E. loans (1) Variable annuity net written premiums and deposits Agents licensed for: Life insurance Mutual funds $.M.A.R.T. / $.A.F.E. loans Variable annuities Long term care Home & auto insurance Financial Needs Analyses submitted $ $ $ $ $ 15.0 397.8 44.1 324.5 270.6 $ $ $ $ $ 18.5 403.6 54.1 330.9 277.4 $ $ $ $ $ 16.8 408.4 49.5 333.3 275.0 $ $ $ $ $ 17.1 412.7 50.0 337.6 282.6 $ $ $ $ $ 16.3 415.4 47.4 340.4 284.0 $ $ $ $ $ 18.6 422.9 53.7 346.9 285.2 $ $ $ $ $ 17.6 427.7 50.9 348.1 287.1 $ $ $ $ $ 19.0 434.8 53.8 352.2 288.9 11% 5% 8% 4% 2% $ 67.4 $ 71.5 6% $ $ $ 197.7 1,326.3 1,105.6 $ $ $ 205.8 1,387.6 1,145.2 4% 5% 4% $ 465.0 497.1 962.1 228.8 1,190.9 492.0 249.9 $ 468.7 552.5 1,021.2 128.1 1,149.3 475.6 248.0 $ 448.5 397.8 846.3 117.4 963.7 457.2 270.6 $ 428.9 368.5 797.4 119.0 916.4 667.5 288.2 $ 479.9 330.1 810.0 183.8 993.8 694.5 247.6 $ 509.1 259.1 768.2 100.1 868.3 1,091.9 237.1 $ 496.7 195.4 692.1 84.4 776.5 1,006.1 222.1 $ 491.0 197.6 688.6 81.6 770.2 1,077.3 217.2 14% (46%) (14%) (31%) (16%) 61% (25%) $ 1,811.1 1,815.9 3,627.0 593.3 4,220.3 2,092.3 1,056.7 $ 1,976.7 982.2 2,958.9 449.9 3,408.8 3,869.8 924.0 9% (46%) (18%) (24%) (19%) 85% (13%) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 79,818 25,570 93,055 16,453 8,010 13,238 110,900 82,288 25,968 99,481 16,692 7,785 13,038 109,451 85,183 27,300 105,640 17,281 9,612 12,194 108,838 86,900 27,961 116,491 17,777 10,134 11,647 108,705 88,907 27,671 125,450 18,665 10,869 11,275 114,991 93,998 28,766 133,200 19,642 11,319 12,834 122,009 93,156 29,653 143,738 20,179 12,010 12,473 119,093 95,679 30,305 149,127 20,613 12,724 11,738 114,287 10% 8% 28% 16% 26% 1% 5% 437,894 470,380 7% (1) The $.M.A.R.T. and $.A.F.E. loan products are marketed by PFS; the receivables are reflected in the assets of CitiFinancial. * Excludes realized gains / (losses) on investments. Page 8 Slide 10: GLOBAL CONSUMER - Insurance PERSONAL LINES (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense* Adjusted Operating Expenses Claims and Claim Adjustment Expenses Core Income Before Taxes and Minority Interest Income Taxes Minority Interest, Net of Tax Core Income (1) Net written premiums by product line (2): Auto Homeowners and other Total net written premiums (a) Net written premiums by distribution channel: Independent agents Additional distribution Other Total net written premiums (a) Statutory ratio development (2): Earned premiums (b) Losses and loss adjustment expenses (c) Other underwriting expenses (d) Total deductions Statutory underwriting gain/(loss) Statutory combined ratio (2): Loss and loss adjustment expense ratio (c / b) Other underwriting expense ratio (d / a) Combined ratio Net investment income (pre-tax) Effective tax rate on net investment income Catastrophe losses, net of reinsurance (after-tax) (1) $ $ $ $ $ 1,034 250 659 125 38 13 74 $ $ 2Q 2000 1,050 256 673 121 36 3 82 $ $ 3Q 2000 1,058 246 717 95 27 68 $ $ 4Q 2000 1,088 250 718 120 37 83 $ $ 1Q 2001 1,080 267 688 125 38 87 $ $ 2Q 2001 1,106 261 793 52 13 39 $ $ 3Q 2001 1,132 276 820 36 7 29 $ $ 4Q 2001 1,146 275 798 73 20 53 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 5% 10% 11% (39%) (46%) (36%) $ $ YTD 4Q 2000 4,230 1,002 2,767 461 138 16 307 $ $ YTD 4Q 2001 4,464 1,079 3,099 286 78 208 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 6% 8% 12% (38%) (43%) (100%) (32%) $ $ 588.7 307.9 896.6 $ $ 614.7 378.6 993.3 $ $ 608.7 397.1 1,005.8 $ $ 596.1 372.5 968.6 $ $ 639.1 322.7 961.8 $ $ 669.0 404.5 1,073.5 $ $ 682.2 414.6 1,096.8 $ $ 652.3 381.9 1,034.2 9% 3% 7% $ $ 2,408.2 1,456.1 3,864.3 $ $ 2,642.6 1,523.7 4,166.3 10% 5% 8% $ 710.4 139.4 46.8 896.6 $ 791.9 158.9 42.5 993.3 $ 801.0 169.9 34.9 1,005.8 $ 776.1 165.5 27.0 968.6 $ 775.2 159.1 27.5 961.8 $ 865.0 174.5 34.0 1,073.5 $ 889.5 179.7 27.6 1,096.8 $ 836.6 173.8 23.8 1,034.2 8% 5% (12%) 7% $ 3,079.4 633.7 151.2 3,864.3 $ 3,366.3 687.1 112.9 4,166.3 9% 8% (25%) 8% $ $ $ $ $ $ $ $ $ $ $ 917.2 661.5 242.1 903.6 13.6 $ 927.7 674.0 254.3 928.3 $ 937.8 719.3 260.3 979.6 $ 972.5 721.0 245.3 966.3 $ 957.9 688.5 254.6 943.1 $ 994.9 793.1 264.9 1,058.0 $ 1,021.5 819.7 280.8 1,100.5 $ 1,038.8 798.4 261.4 1,059.8 7% 11% 7% 10% NM $ 3,755.2 2,775.8 1,002.0 3,777.8 $ 4,013.1 3,099.7 1,061.7 4,161.4 7% 12% 6% 10% NM $ (0.6) $ (41.8) $ 6.2 $ 14.8 $ (63.1) $ (79.0) $ (21.0) $ (22.6) $ (148.3) 72.1% 27.0% 99.1% 113.1 29.3% 30.4 $ $ 72.7% 25.6% 98.3% 115.2 29.5% 17.2 $ $ 76.7% 25.9% 102.6% 113.0 29.4% 1.9 $ $ 74.1% 25.3% 99.4% 107.7 29.2% 4.1 $ $ 71.9% 26.5% 98.4% 114.1 29.2% $ $ 79.7% 24.7% 104.4% 102.7 28.1% 42.3 $ $ 80.2% 25.6% 105.8% 101.4 28.8% 41.6 $ $ 76.9% 25.3% 102.2% 97.4 27.9% 2.3 (10%) (44%) $ $ 73.9% 25.9% 99.8% 449.0 29.4% 53.6 $ $ 77.2% 25.5% 102.7% 415.6 28.4% 86.2 (7%) 61% During April 2000, Travelers Insurance Group Inc. completed a cash tender offer to purchase all the outstanding shares of Class A Common Stock of Travelers Property Casualty Corp. at a price of $41.95 per share. Results for the periods prior to April 20, 2000 are net of minority interest. The 2001 third quarter and 2001 full year results include the effects of the events of September 11, 2001, which resulted in a decrease of $4.0 million to premiums, an increase of $60.0 million to losses and loss adjustment expenses and a decrease of $64.0 million to statutory underwriting loss. Excluding the effects of these events, the loss and loss adjustment expense ratio, other underwriting expense ratio, and combined ratio for the 2001 third quarter were 74.1%, 25.5%, and 99.6%, respectively, and for the 2001 full year were 75.7%, 25.5% and 101.2%, respectively. * Excludes realized gains / (losses) on investments. NM - Not meaningful Reclassified to conform to the current period's presentation. (2) Page 9 Slide 11: GLOBAL CONSUMER - International WESTERN EUROPE (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Benefits, Claims, and Credit Losses Core Income Before Taxes Income Taxes Core Income Average Assets (in billions of dollars) Return on Assets Average Loans (in billions of dollars) Cards Mortgages Auto Personal Other Total Average Customer Deposits (in billions of dollars) EOP Accounts (in millions) EOP Card Accounts (in millions) Non-Interest Revenue as % of Total Revenues Net Credit Loss Ratio (1) Loan 90+ Days Past Due: In millions of dollars % Proprietary Mutual Funds / UIT Proprietary Money Market Funds Total Proprietary Funds Third Party Funds Mutual Fund / UIT Sales at NAV (in millions of dollars) Branches Consumer Finance Offices ATM-only locations Proprietary ATMs $ $ 899 5.31% 353 195 548 469 1,017 434 128 33 839 $ $ $ $ $ 618 363 104 151 55 96 22 1.76% $ $ $ 2Q 2000 600 365 92 143 52 91 21 1.74% $ $ $ 3Q 2000 579 333 97 149 55 94 21 1.78% $ $ $ 4Q 2000 591 335 97 159 56 103 21 1.95% $ $ $ 1Q 2001 622 350 99 173 63 110 21 2.12% $ $ $ 2Q 2001 602 332 101 169 63 106 22 1.93% $ $ $ 3Q 2001 651 353 106 192 68 124 23 2.14% $ $ $ 4Q 2001 680 357 108 215 72 143 23 2.47% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 15% 7% 11% 35% 29% 39% 10% $ $ $ YTD 4Q 2000 2,388 1,396 390 602 218 384 21 1.83% $ $ $ YTD 4Q 2001 2,555 1,392 414 749 266 483 22 2.20% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 7% 6% 24% 22% 26% 5% $ 2.3 2.1 1.3 10.1 1.1 16.9 13.0 9.8 2.4 33.0% 1.88% $ 2.2 2.1 1.4 10.0 1.1 16.8 12.5 9.9 2.5 31.6% 1.84% $ 2.2 2.1 1.4 9.9 1.1 16.7 12.1 10.0 2.5 33.4% 2.01% $ 2.2 2.1 1.5 9.9 1.0 16.7 12.0 10.1 2.6 33.0% 2.40% $ 2.0 2.2 1.6 10.4 1.1 17.3 12.9 9.9 2.1 30.6% 1.92% $ 2.1 2.2 1.6 10.1 1.1 17.1 13.0 10.0 2.2 28.1% 1.98% $ 2.3 2.6 1.8 10.8 1.1 18.6 13.6 10.1 2.3 30.6% 1.82% $ 2.4 2.7 1.7 11.0 1.0 18.8 13.7 10.1 2.5 28.4% 1.83% 9% 29% 13% 11% 13% 14% (4%) $ 2.2 2.1 1.4 10.0 1.1 16.8 12.4 $ 2.2 2.4 1.7 10.6 1.1 18.0 13.3 14% 21% 6% 7% 7% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 32.7% 29.4% 892 5.18% 361 116 477 326 803 434 131 34 859 $ 829 5.09% $ 835 4.78% $ 785 4.68% $ 740 4.34% $ 817 4.29% $ 800 4.21% (4%) $ 222 101 323 436 759 437 132 36 875 $ 225 108 333 337 670 436 130 33 883 $ 189 162 351 322 673 432 131 45 888 $ 212 152 364 258 622 434 128 50 909 $ 174 152 326 224 550 436 130 98 946 $ 182 232 414 280 694 436 130 97 939 (19%) NM 24% (17%) 4% NM 6% $ 1,161 520 1,681 1,568 3,249 $ 757 698 1,455 1,084 2,539 (35%) 34% (13%) (31%) (22%) $ $ $ $ $ $ $ $ $ $ (1) The 4Q00 net credit loss ratio includes a 24 basis point increase related to the adoption of revised FFIEC write-off policies. NM Not meaningful Reclassified to conform to the current period's presentation. Page 10 Slide 12: GLOBAL CONSUMER - International JAPAN (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Benefits, Claims, and Credit Losses Core Income Before Taxes Income Taxes Core Income Average Assets (in billions of dollars) Return on Assets $ $ $ 591 249 105 237 87 150 15 4.02% $ $ $ 2Q 2000 662 267 121 274 101 173 16 4.35% $ $ $ 3Q 2000 713 274 127 312 108 204 18 4.51% $ $ $ 4Q 2000 815 361 147 307 105 202 20 4.02% $ $ $ 1Q 2001 825 353 162 310 112 198 19 4.23% $ $ $ 2Q 2001 818 313 147 358 129 229 20 4.59% $ $ $ 3Q 2001 859 316 163 380 136 244 21 4.61% $ $ $ 4Q 2001 880 300 177 403 146 257 20 5.10% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 8% (17%) 20% 31% 39% 27% $ $ $ YTD 4Q 2000 2,781 1,151 500 1,130 401 729 17 4.29% $ $ $ YTD 4Q 2001 3,382 1,282 649 1,451 523 928 20 4.64% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 22% 11% 30% 28% 30% 27% 18% Average Loans (in billions of dollars) Mortgages Cards Personal Other Total Average Customer Deposits (in billions of dollars) EOP Accounts (in millions) EOP Card Accounts (in millions) Non-Interest Revenue as % of Total Revenues Net Credit Loss Ratio Loan 90+ Days Past Due: In millions of dollars % Proprietary Mutual Funds / UIT Proprietary Money Market Funds Total Proprietary Funds Third Party Funds Mutual Fund / UIT Sales at NAV (in millions of dollars) Branches Consumer Finance Offices ATM-only locations/Unmanned Kiosks Proprietary ATMs NM Not meaningful Reclassified to conform to the current period's presentation. $ 3.4 0.8 5.2 0.2 9.6 13.1 4.0 0.9 11.2% 3.68% $ 3.8 1.1 5.8 0.2 10.9 13.5 4.1 0.9 13.0% 3.19% $ 4.0 1.1 6.8 0.3 12.2 13.9 4.6 1.0 11.5% 3.15% $ 4.2 1.1 8.0 0.3 13.6 13.9 4.8 1.0 10.3% 3.81% $ 4.2 1.0 7.9 0.4 13.5 14.3 4.9 1.0 9.6% 4.06% $ 4.3 1.0 8.3 0.4 14.0 14.7 5.0 1.0 10.5% 3.74% $ 4.7 1.1 8.6 0.3 14.7 15.4 5.2 1.0 14.7% 4.04% $ 4.5 1.0 8.7 1.0 15.2 15.3 5.2 1.0 15.7% 4.53% 7% (9%) 9% NM 12% 10% 8% - $ 3.9 1.0 6.5 0.2 11.6 13.6 $ 4.4 1.0 8.4 0.6 14.4 14.9 13% 0% 29% NM 24% 10% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 10.3% 12.7% $ 103 0.99% 67 273 340 113 $ 100 0.83% 78 246 324 104 $ 105 0.76% 178 207 385 36 $ 101 0.73% 75 71 146 110 $ 107 0.81% 99 91 190 92 $ 129 0.91% 130 116 246 84 $ 174 1.12% 162 100 262 126 $ 178 1.24% 92 65 157 166 76% $ $ $ $ $ $ $ $ 23% (8%) 8% 51% 26% (3%) NM 7% $ 398 797 1,195 363 $ 483 372 855 468 21% (53%) (28%) 29% (15%) $ 453 22 685 78 61 $ 428 22 742 110 61 $ 421 22 878 140 61 $ 256 22 902 161 61 $ 282 22 902 205 61 $ 330 22 907 269 62 $ 388 22 906 335 65 $ 323 22 877 381 65 $ 1,558 $ 1,323 Page 11 Slide 13: GLOBAL CONSUMER - International ASIA (Excluding Japan) (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Benefits, Claims, and Credit Losses Core Income Before Taxes Income Taxes Core Income Average Assets (in billions of dollars) Return on Assets Average Loans (in billions of dollars) Mortgages Cards Auto Personal Other Total Average Customer Deposits (in billions of dollars) EOP Accounts (in millions) EOP Card Accounts (in millions) Non-Interest Revenue as % of Total Revenues Net Credit Loss Ratio Loans 90+ Days Past Due: In millions of dollars % Proprietary Mutual Funds / UIT Proprietary Money Market Funds Total Proprietary Funds Third Party Funds Mutual Fund / UIT Sales at NAV (in millions of dollars) Branches ATM-only locations Proprietary ATMs $ $ $ 539 246 74 219 78 141 27 2.10% $ $ $ 2Q 2000 519 242 62 215 76 139 26 2.15% $ $ $ 3Q 2000 521 235 71 215 76 139 27 2.05% $ $ $ 4Q 2000 517 248 66 203 72 131 26 2.00% $ $ $ 1Q 2001 540 244 62 234 87 147 25 2.38% $ $ $ 2Q 2001 536 241 67 228 83 145 25 2.33% $ $ $ 3Q 2001 554 235 67 252 92 160 25 2.54% $ $ $ 4Q 2001 571 249 72 250 91 159 25 2.52% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 10% 9% 23% 26% 21% (4%) $ $ $ YTD 4Q 2000 2,096 971 273 852 302 550 27 2.04% $ $ $ YTD 4Q 2001 2,201 969 268 964 353 611 25 2.44% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 5% (2%) 13% 17% 11% (7%) $ 12.5 4.7 2.3 1.2 1.9 22.6 34.2 7.5 4.5 34.5% 1.24% $ 12.2 4.7 2.3 1.2 1.8 22.2 34.4 7.7 4.6 31.2% 1.07% $ 12.0 4.8 2.4 1.3 1.8 22.3 35.1 8.0 4.7 32.4% 1.14% $ 11.6 4.8 2.4 1.3 1.7 21.8 35.1 8.2 4.9 30.7% 1.18% $ 11.5 4.8 2.4 1.3 1.6 21.6 36.1 8.5 5.1 31.5% 1.14% $ 11.2 4.8 2.3 1.3 1.6 21.2 35.5 9.0 5.6 30.6% 1.23% $ 11.1 5.1 2.2 1.4 1.5 21.3 35.3 9.3 5.8 29.4% 1.21% $ 11.0 5.2 2.1 1.4 1.5 21.2 34.9 9.8 6.2 28.0% 1.28% (5%) 8% (13%) 8% (12%) (3%) (1%) 20% 27% $ 12.1 4.8 2.4 1.3 1.6 22.2 34.7 $ 11.2 5.0 2.3 1.4 1.4 21.3 35.5 (7%) 4% (4%) 8% (13%) (4%) 2% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 32.9% 31.0% $ 433 1.92% 85 78 163 1,834 1,997 71 79 300 $ 396 1.75% 103 61 164 840 1,004 73 75 300 $ 350 1.57% 133 49 182 985 1,167 76 74 301 $ 335 1.51% 205 97 302 961 1,263 77 73 303 $ 334 1.58% 107 91 198 828 1,026 77 77 303 $ 338 1.59% 306 73 379 834 1,213 77 75 302 $ 348 1.65% 180 73 253 1,170 1,423 77 75 304 $ 367 1.73% 90 65 155 1,331 1,486 79 75 309 10% $ $ $ $ $ $ $ $ (56%) (33%) (49%) 39% 18% 3% 3% 2% $ 526 285 811 4,620 5,431 $ 683 302 985 4,163 5,148 30% 6% 21% (10%) (5%) $ $ $ $ $ $ $ $ $ $ Reclassified to conform to the current period's presentation. Page 12 Slide 14: GLOBAL CONSUMER - International Mexico (1) (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Benefits, Claims, and Credit Losses Core Income Before Taxes Income Taxes Minority Interest, Net of Tax Core Income Average Assets (in billions of dollars) Return on Assets Average Loans (in billions of dollars) Consumer Corporate Government / Government Agencies Total Average Customer Deposits (in billions of dollars) EOP Accounts (in millions) EOP Card Accounts (in millions) Consumer Non-Interest Revenue as % of Total Consumer Revenues Consumer Net Credit Loss Ratio Consumer Loans 90+ Days Past Due: In millions of dollars % Branches Commercial Cash Basis Loans: In millions of dollars % Assets Under Management - Retirement Services (in millions of dollars) $ $ $ 197 114 15 68 25 43 10 1.73% $ $ $ 2Q 2000 136 114 10 12 6 6 9 0.27% $ $ $ 3Q 2000 119 113 7 (1) 2 (3) 8 -0.15% $ $ $ 4Q 2000 151 120 8 23 13 10 9 0.44% $ $ $ 1Q 2001 151 128 11 12 8 4 11 0.15% $ $ $ 2Q 2001 161 133 7 21 10 11 11 0.40% $ $ $ 3Q 2001 683 460 57 166 33 9 124 49 1.00% $ $ $ 4Q 2001 1,122 678 179 265 40 18 207 70 1.17% $ $ $ YTD 4Q 2000 603 461 40 102 46 56 9 0.62% $ $ $ YTD 4Q 2001 2,117 1,399 254 464 91 27 346 35 0.99% $ 0.3 3.4 0.2 3.9 3.6 1.1 0.4 26.7% 5.48% $ 0.2 3.2 0.2 3.6 3.1 1.1 0.4 24.1% 4.66% $ 0.3 3.0 0.2 3.5 3.2 1.7 0.4 82.3% 3.54% $ 0.3 3.1 0.2 3.6 2.9 1.7 0.5 65.4% 3.38% $ 0.3 3.2 0.2 3.7 3.0 1.7 0.5 38.1% 4.13% $ 0.4 3.4 0.2 4.0 2.6 1.7 0.5 33.8% 3.20% $ 3.8 9.6 2.9 16.3 23.7 16.5 9.0 34.4% 3.43% $ 5.8 12.4 3.1 21.3 28.0 16.1 8.9 48.0% 3.88% $ 0.3 3.2 0.2 3.7 3.2 $ 2.6 7.2 1.5 11.3 14.3 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 28 10.94% 227 $ 18 7.32% 222 $ 15 5.75% 196 $ 15 5.17% 196 $ 16 5.19% 196 $ 25 6.33% 196 $ 507 9.06% 1,560 $ 523 8.75% 1,483 $ 66 1.95% 1,257 $ 71 2.22% 1,064 $ 80 2.52% 1,257 $ 79 2.33% 1,370 $ 68 2.01% 1,703 $ 164 4.52% 1,988 $ 600 3.72% 5,541 $ 1,030 7.28% 6,321 $ $ $ $ $ $ $ $ (1) Comprises both Consumer and Corporate operations in Mexico, including the results of Banamex (excluding Investment Activities) from August 2001 forward. Reclassified to conform to the current period's presentation. Page 13 Slide 15: GLOBAL CONSUMER - International LATIN AMERICA (Excluding Mexico) (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Benefits, Claims, and Credit Losses Core Income (Loss) Before Taxes Income Taxes (Benefit) Core Income (Loss) Average Assets (in billions of dollars) Return on Assets $ $ $ 420 249 87 84 28 56 10 2.25% $ $ $ 2Q 2000 417 252 73 92 31 61 9 2.73% $ $ $ 3Q 2000 401 247 66 88 31 57 9 2.52% $ $ $ 4Q 2000 418 259 72 87 11 76 9 3.36% $ $ $ 1Q 2001 409 254 72 83 25 58 9 2.61% $ $ $ 2Q 2001 406 239 71 96 29 67 8 3.36% $ $ $ 3Q 2001 396 225 82 89 26 63 8 3.12% $ $ $ 4Q 2001 169 220 74 (125) (57) (68) 8 NM 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) (60%) (15%) 3% NM NM NM (11%) $ $ $ YTD 4Q 2000 1,656 1,007 298 351 101 250 9 2.78% $ $ $ YTD 4Q 2001 1,380 938 299 143 23 120 8 1.50% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) (17%) (7%) (59%) (77%) (52%) (11%) Average Loans (in billions of dollars) Mortgages Cards Auto Personal Other Total Average Customer Deposits (in billions of dollars) EOP Accounts (in millions) EOP Card Accounts (in millions) Non-Interest Revenue as % of Total Revenues Net Credit Loss Ratio (1) Loans 90+ Days Past Due: In millions of dollars % Proprietary Mutual Funds/UIT Funds Proprietary Money Market Funds Total Proprietary Funds Third Party Funds Mutual Fund / UIT Sales at NAV (in millions of dollars) Branches Consumer Finance Offices ATM-only locations Proprietary ATMs $ 2.0 1.6 1.4 1.9 0.5 7.4 10.6 7.2 1.6 38.8% 4.74% $ 2.0 1.5 1.0 1.9 0.5 6.9 10.5 7.3 1.6 38.3% 4.24% $ 2.1 1.5 0.9 1.8 0.5 6.8 10.6 7.3 1.6 35.9% 3.90% $ 2.0 1.5 0.9 1.8 0.4 6.6 10.6 7.2 1.6 38.7% 5.69% $ 2.1 1.5 0.8 1.8 0.3 6.5 11.0 7.2 1.6 37.5% 4.24% $ 2.0 1.5 0.7 1.7 0.3 6.2 10.6 7.2 1.5 35.9% 4.28% $ 1.9 1.4 0.6 1.6 0.3 5.8 10.2 7.1 1.5 38.0% 5.20% $ 1.9 1.4 0.5 1.6 0.2 5.6 9.9 7.1 1.5 NM 4.93% (5%) (7%) (44%) (11%) (50%) (15%) (7%) (1%) (6%) $ 2.0 1.5 1.1 1.9 0.4 6.9 10.6 $ 2.0 1.5 0.7 1.7 0.1 6.0 10.4 (36%) (11%) (75%) (13%) (2%) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 37.9% 27.0% $ 303 4.32% 375 1,052 1,427 215 1,642 212 101 83 477 $ 303 4.39% 244 1,053 1,297 145 1,442 208 101 84 483 $ 303 4.49% 366 819 1,185 122 1,307 208 101 88 482 $ 235 3.59% 273 872 1,145 127 1,272 210 110 84 465 $ 302 4.74% 398 830 1,228 143 1,371 208 120 85 476 $ 285 4.69% 211 848 1,059 161 1,220 209 119 86 448 $ 255 4.51% 203 823 1,026 217 1,243 207 110 85 456 $ 248 4.71% 182 1,042 1,224 160 1,384 211 110 84 460 6% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ (33%) 19% 7% 26% 9% (1%) $ 1,258 3,796 5,054 609 5,663 $ 994 3,543 4,537 681 5,218 (21%) (7%) (10%) 12% (8%) $ $ (1) The 4Q00 net credit loss ratio includes a 243 basis point increase related to the adoption of revised FFIEC write-off policies. NM Not meaningful Reclassified to conform to the current period's presentation. Page 14 Slide 16: GLOBAL CONSUMER - International CENTRAL & EASTERN EUROPE, MIDDLE EAST & AFRICA (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Benefits, Claims, and Credit Losses Core Income Before Taxes Income Taxes Core Income Average Assets (in billions of dollars) Return on Assets Average Loans (in billions of dollars) Cards Mortgages Auto Personal Other Total Average Customer Deposits (in billions of dollars) EOP Accounts (in millions) EOP Card Accounts (in millions) Non-Interest Revenue as % of Total Revenues Net Credit Loss Ratio (1) Loans 90+ Days Past Due: In millions of dollars % Proprietary Mutual Funds / UIT Proprietary Money Market Funds Total Proprietary Funds Third Party Funds Mutual Fund / UIT Sales at NAV (in millions of dollars) Branches ATM-only locations Proprietary ATMs $ $ $ 100 67 10 23 8 15 3 2.01% $ $ $ 2Q 2000 106 76 8 22 7 15 3 2.01% $ $ $ 3Q 2000 112 88 7 17 5 12 3 1.59% $ $ $ 4Q 2000 120 101 8 11 3 8 4 0.80% $ $ $ 1Q 2001 130 93 9 28 10 18 4 1.83% $ $ $ 2Q 2001 135 94 10 31 10 21 4 2.11% $ $ $ 3Q 2001 140 91 10 39 15 24 4 2.38% $ $ $ 4Q 2001 143 91 10 42 16 26 4 2.58% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 19% (10%) 25% NM NM NM $ $ $ YTD 4Q 2000 438 332 33 73 23 50 3 1.67% $ $ $ YTD 4Q 2001 548 369 39 140 51 89 4 2.23% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 25% 11% 18% 92% NM 78% 33% $ 0.5 0.2 0.3 0.4 0.5 1.9 3.6 2.2 1.5 42.4% 2.60% $ 0.5 0.2 0.3 0.4 0.5 1.9 3.7 2.4 1.6 42.6% 1.66% $ 0.6 0.2 0.3 0.4 0.4 1.9 3.9 2.7 1.7 40.1% 1.45% $ 0.6 0.2 0.3 0.5 0.4 2.0 4.2 2.8 1.8 40.9% 2.10% $ 0.6 0.2 0.4 0.5 0.5 2.2 5.6 3.3 1.9 39.2% 1.66% $ 0.6 0.2 0.4 0.6 0.5 2.3 5.8 3.5 1.9 41.7% 1.70% $ 0.6 0.2 0.4 0.6 0.5 2.3 6.0 3.7 2.0 42.4% 1.62% $ 0.7 0.2 0.4 0.6 0.5 2.4 6.1 3.9 2.1 42.2% 1.60% 17% 33% 20% 25% 20% 45% 39% 17% 3% $ 0.6 0.2 0.3 0.4 0.4 1.9 3.9 $ 0.6 0.2 0.4 0.6 0.5 2.3 5.9 33% 50% 25% 21% 51% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 42.5% 40.5% $ 40 2.16% 7 1 8 154 162 36 50 112 $ 38 1.95% 21 1 22 116 138 145 53 113 $ 34 1.73% 11 1 12 72 84 159 57 119 $ 32 1.37% 9 1 10 36 46 162 65 129 $ 33 1.40% 4 4 90 94 169 76 144 $ 32 1.31% 3 1 4 138 142 178 93 185 $ 32 1.30% 1 6 7 173 180 178 105 197 $ 36 1.41% 1 12 13 280 293 182 107 205 13% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ (89%) NM 30% NM NM 12% 65% 59% $ $ 48 4 52 378 430 $ $ 9 19 28 681 709 (81%) NM (46%) 80% 65% (1) The 4Q00 net credit loss ratio includes a 59 basis point increase related to the adoption of revised FFIEC write-off policies. NM Not meaningful Reclassified to conform to the current period's presentation. Page 15 Slide 17: GLOBAL CORPORATE CORPORATE AND INVESTMENT BANK (In millions of dollars) 1Q 2000 Revenues: Commissions and Fees Asset Management and Administration Fees Investment Banking Principal Transactions Other Income Total Non-Interest Revenues Net Interest and Dividends Total Revenues, Net of Interest Expense Non-Interest Expenses: Compensation and Benefits Communications Occupancy and Equipment Floor Brokerage and Other Production Other Operating and Administrative Expenses Total Non-Interest Expenses Provision for Credit Losses Core Income Before Taxes and Minority Interest Income Taxes and Minority Interest, Net of Tax Core Income $ $ 1,337 500 1,001 1,289 282 4,409 889 5,298 2,340 194 150 155 337 3,176 90 2,032 752 1,280 $ $ 2Q 2000 1,046 546 967 993 300 3,852 961 4,813 2,345 214 161 156 418 3,294 160 1,359 456 903 $ $ 3Q 2000 1,019 551 1,125 1,114 180 3,989 941 4,930 2,471 225 167 174 383 3,420 113 1,397 509 888 $ $ 4Q 2000 1,069 572 1,005 842 207 3,695 1,010 4,705 2,388 239 176 176 399 3,378 392 935 336 599 $ $ 1Q 2001 1,040 536 1,239 1,561 296 4,672 1,011 5,683 2,829 223 179 204 435 3,870 230 1,583 564 1,019 $ $ 2Q 2001 941 503 1,138 835 138 3,555 1,137 4,692 2,249 221 169 164 246 3,049 230 1,413 491 922 $ $ 3Q 2001 844 526 930 451 384 3,135 1,203 4,338 2,032 215 164 163 226 2,800 181 1,357 490 867 $ $ 4Q 2001 877 470 1,212 401 75 3,035 1,658 4,693 2,314 225 157 175 256 3,127 476 1,090 389 701 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) (18%) (18%) 21% (52%) (64%) (18%) 64% (3%) (6%) (11%) (1%) (36%) (7%) 21% 17% 16% 17% $ $ YTD 4Q 2000 4,471 2,169 4,098 4,238 969 15,945 3,801 19,746 9,544 872 654 661 1,537 13,268 755 5,723 2,053 3,670 $ $ YTD 4Q 2001 3,702 2,035 4,519 3,248 893 14,397 5,009 19,406 9,424 884 669 706 1,163 12,846 1,117 5,443 1,934 3,509 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) (17%) (6%) 10% (23%) (8%) (10%) 32% (2%) (1%) 1% 2% 7% (24%) (3%) 48% (5%) (6%) (4%) Pre-tax profit Margin Non-Compensation Expenses as a Percent of Net Revenues Compensation and Benefits Expenses as a Percent of Net Revenues 38.4% 15.8% 44.2% 28.2% 19.7% 48.7% 28.3% 19.2% 50.1% 19.9% 21.0% 50.8% 27.9% 18.3% 49.8% 30.1% 17.1% 47.9% 31.3% 17.7% 46.8% 23.2% 17.3% 49.3% 29.0% 18.9% 48.3% 28.0% 17.6% 48.6% Page 16 Slide 18: GLOBAL CORPORATE SALOMON SMITH BARNEY (In millions of dollars) 1Q 2000 Client Assets (in billions of dollars) Assets under fee-based management: Consulting Group and Internally Managed Financial Consultant (FC) Managed Total assets under fee-based management (1) Total client assets Private Client Financial Consultants Annualized revenue per FC (000) Branch offices Investment Banking and Public Finance Underwriting (full credit to book manager): Debt and equity Global volume (2) Global market share Rank U.S. volume (3) U.S. market share Rank Municipals Volume (4) Market share Rank Capital Markets/Research Number of stocks in which markets are made % of S&P Groups covered by research Total equity (in billions of dollars) (5) Return on equity (5) $ 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) YTD 4Q 2000 YTD 4Q 2001 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) $ $ $ 133.1 55.4 188.5 1,032.2 $ $ $ 135.8 58.2 194.0 1,031.5 $ $ $ 140.2 62.2 202.4 1,047.3 $ $ $ 145.6 56.2 201.8 977.2 $ $ $ 134.4 51.9 186.3 910.5 $ $ $ 149.3 57.0 206.3 981.0 $ $ $ 134.9 49.4 184.3 905.4 $ $ $ 150.2 54.9 205.1 976.7 3% (2%) 2% - $ $ $ 145.6 56.2 201.8 977.2 $ $ $ 150.2 54.9 205.1 976.7 3% (2%) 2% - $ 11,552 667 491 $ 11,838 577 501 $ 12,122 562 512 $ 12,353 533 522 $ 12,675 501 530 $ 12,802 473 530 $ 12,963 450 538 $ 12,927 440 536 5% (17%) 3% $ 12,353 584 522 $ 12,927 466 536 5% (20%) 3% $ 96,610.9 10.2% 2 74,051.3 13.0% 2 $ 95,769.7 11.8% 1 61,522.9 13.2% 2 $ 85,071.4 10.3% 2 64,095.7 12.7% 2 $ 78,264.1 11.4% 2 58,587.8 13.9% 1 $ 130,245.9 12.1% 2 99,224.8 14.1% 2 $ 117,423.1 10.9% 2 93,777.4 12.5% 2 $ 94,163.1 10.6% 2 79,203.6 11.7% 1 $ 145,733.1 14.0% 1 122,452.2 16.4% 1 86% $ 355,716.1 10.9% 2 258,257.7 13.2% 2 $ 487,565.2 12.0% 1 394,658.0 13.7% 1 37% $ $ $ $ $ $ $ $ 109% $ $ 53% $ 4,875.2 12.0% 1 $ 7,689.0 13.9% 1 $ 6,120.1 12.6% 1 $ 6,520.3 11.7% 2 $ 8,688.3 14.8% 1 $ 10,261.7 13.2% 1 $ 8,941.5 15.1% 1 $ 11,849.9 13.0% 1 82% $ 25,204.6 12.6% 1 $ 39,741.4 13.8% 1 58% 1,416 98% 9.9 41.1% $ 1,442 100% 10.3 26.2% $ 1,612 97% 10.7 26.7% $ 1,873 100% 11.1 25.7% $ 1,834 99% 11.8 28.4% $ 1,521 99% 12.2 25.5% $ 1,213 99% 11.5 20.6% $ 1,202 96% 11.7 18.2% (36%) 1,873 98% $ 11.1 29.7% $ 1,202 96% 11.7 23.2% (36%) 5% 5% (1) Includes some assets jointly managed with Citigroup Asset Management. (2) Includes non-convertible debt, Rule 144A non-convertible debt, Rule 144A non-convertible preferred, non-convertible preferred, preferred, taxable municipal debt, mortgage and asset backed debt, all common stock, convertible debt and convertible preferred. Excludes all closed end funds. (3) Includes all U.S. mortgage and asset backed debt, U.S. non-convertible debt, U.S. Rule 144A non-convertible and U.S. taxable municipal debt, all U.S. common stock, U.S. convertible debt and U.S. convertible preferred. Excludes all closed end funds, 144A common stock, 144A convertible stock, and 144A convertible preferred. (4) Total long term excluding private placement. (5) Total equity and return on equity (core income) for Salomon Smith Barney are calculated on a legal entity basis. Reclassified to conform to the current period's presentation. Page 17 Slide 19: GLOBAL CORPORATE EMERGING MARKETS CORPORATE BANKING AND GLOBAL TRANSACTION SERVICES (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Loan Losses Core Income Before Taxes and Minority Interest Income Taxes Minority Interest, Net of Tax Core Income $ $ 1,462 913 75 474 172 302 $ $ 2Q 2000 1,546 961 74 511 186 3 322 $ $ 3Q 2000 1,578 961 19 598 218 8 372 $ $ 4Q 2000 1,650 1,010 (4) 644 232 5 407 $ $ 1Q 2001 1,801 1,089 39 673 244 4 425 $ $ 2Q 2001 1,773 1,022 54 697 249 8 440 $ $ 3Q 2001 1,699 995 32 672 238 6 428 $ $ 4Q 2001 1,655 931 175 549 192 6 351 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) (8%) NM (15%) (17%) 20% (14%) $ $ YTD 4Q 2000 6,236 3,845 164 2,227 808 16 1,403 $ $ YTD 4Q 2001 6,928 4,037 300 2,591 923 24 1,644 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 11% 5% 83% 16% 14% 50% 17% Average Assets (in billions of dollars) Return on Assets $ 92 1.32% $ 96 1.35% $ 100 1.48% $ 105 1.54% $ 109 1.58% $ 112 1.58% $ 114 1.49% $ 115 1.21% 10% $ 98 1.43% $ 113 1.45% 15% NM Not meaningful Reclassified to conform to the current period's presentation. Page 18 Slide 20: GLOBAL CORPORATE - Insurance COMMERCIAL LINES (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense* Adjusted Operating Expenses Claims and Claim Adjustment Expenses Core Income (Loss) Before Taxes and Minority Interest Income Taxes (Benefits) Minority Interest, Net of Tax Core Income (Loss) (1) Net written premiums by market: (2, 3) Commercial accounts Select accounts Specialty accounts National accounts Total net written premiums Statutory ratio development (3): Earned premiums (b) Losses and loss adjustment expenses (c) Other underwriting expenses (d) Total deductions Statutory underwriting loss Statutory combined ratio: (2, 3, 4) Loss and loss adjustment expense ratio (c / b) Other underwriting expense ratio (d / a) Combined ratio Net investment income (pre-tax) Effective tax rate on net investment income Catastrophe losses, net of reinsurance (after-tax) $ $ $ (a) $ 1,719 397 931 391 102 42 247 $ 2Q 2000 1,788 403 1,009 376 96 8 272 $ 3Q 2000 1,928 380 1,114 434 117 317 $ 4Q 2000 2,062 519 1,200 343 86 257 $ 1Q 2001 1,970 499 1,095 376 98 278 $ 2Q 2001 2,018 506 1,124 388 102 286 $ 3Q 2001 1,977 479 1,762 (264) (128) (136) $ 4Q 2001 1,998 502 1,146 350 87 263 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) (3%) (3%) (5%) 2% 1% 2% $ YTD 4Q 2000 7,497 1,699 4,254 1,544 401 50 1,093 $ YTD 4Q 2001 7,963 1,986 5,127 850 159 691 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 6% 17% 21% (45%) (60%) (100%) (37%) $ $ $ $ $ $ $ $ $ $ $ 487.4 387.3 332.5 92.0 1,299.2 $ 457.4 406.8 481.0 58.5 1,403.7 $ 563.1 382.4 463.6 131.4 1,540.5 $ 591.0 398.9 478.3 70.4 1,538.6 $ 546.9 429.4 556.8 126.2 1,659.3 $ 527.1 439.6 512.5 77.0 1,556.2 $ 528.8 411.7 457.7 115.8 1,514.0 $ 636.9 432.5 378.4 99.9 1,547.7 8% 8% (21%) 42% 1% $ 2,098.9 1,575.4 1,755.4 352.3 5,782.0 $ 2,239.7 1,713.2 1,905.4 418.9 6,277.2 7% 9% 9% 19% 9% $ $ $ $ $ $ $ $ $ $ $ 1,220.2 880.0 367.1 1,247.1 (26.9) $ 1,275.0 959.9 424.8 1,384.7 $ 1,402.8 1,079.7 409.4 1,489.1 $ 1,471.4 1,152.5 432.3 1,584.8 $ 1,481.6 1,049.7 493.0 1,542.7 $ 1,504.6 1,089.8 449.1 1,538.9 $ 1,498.6 1,714.4 450.2 2,164.6 $ 1,518.3 1,102.5 434.4 1,536.9 3% (4%) (3%) 84% $ 5,369.4 4,072.1 1,633.6 5,705.7 $ 6,003.1 4,956.4 1,826.7 6,783.1 12% 22% 12% 19% NM $ (109.7) $ (86.3) $ (113.4) $ (61.1) $ (34.3) $ (666.0) $ (18.6) $ (336.3) $ (780.0) 72.1% 28.3% 100.4% 451.3 26.8% $ $ 75.3% 30.3% 105.6% 454.6 26.8% $ $ 77.0% 26.6% 103.6% 435.6 26.5% $ $ 78.3% 28.1% 106.4% 440.7 26.5% $ $ 70.8% 29.7% 100.5% 435.0 26.6% 8.2 $ $ 72.4% 28.9% 101.3% 435.7 26.8% 12.3 $ $ 114.4% 29.7% 144.1% 407.6 26.4% 447.9 $ $ 72.6% 28.1% 100.7% 399.2 25.8% 2.1 (9%) NM $ $ 75.8% 28.3% 104.1% 1,782.2 26.7% $ $ 82.6% 29.1% 111.7% 1,677.5 25.8% 470.5 (6%) NM (1) (2) During April 2000, Travelers Insurance Group Inc. completed a cash tender offer to purchase all the outstanding shares of Class A Common Stock of Travelers Property Casualty Corp. at a price of $41.95 per share. Results for the periods prior to April 20, 2000 are net of minority interest. The 2000 second quarter and 2000 full year net written premiums include a $130.7 million adjustment associated with the acquisition of the Reliance Surety business. Excluding this transaction, the loss and loss adjustment expense ratio, other underwriting expense ratio, and combined ratio for the 2000 second quarter were 75.3%, 29.2% and 104.5%, respectively, and for the 2000 full year were 75.8%, 28.0% and 103.8%, respectively. The 2001 third quarter and 2001 full year include the effects of the events of September 11, 2001, which resulted in a decrease of $45.0 million and $689.0 million to premiums and statutory underwriting loss, respectively, and an increase of $644.0 million to losses and loss adjustment expenses. Excluding the effects of these events, the loss and loss adjustment expense ratio, other underwriting expense ratio, and combined ratio for the 2001 third quarter were 69.3%, 28.9% and 98.2%, respectively, and for the 2001 full year were 71.3%, 28.9% and 100.2%, respectively. Before policyholder dividends. (3) (4) * Excludes realized gains / (losses) on investments. NM - Not meaningful Page 19 Slide 21: GLOBAL INVESTMENT MANAGEMENT AND PRIVATE BANKING TRAVELERS LIFE AND ANNUITY (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense* Total Operating Expenses Provision for Benefits and Claims Core Income Before Taxes Income Taxes Core Income Pre-tax contribution by source: Individual annuities Group annuities Life and long-term care insurance Other (includes run-off and return on excess capital) Total Individual annuities: Net written premiums & deposits: Fixed Variable Individual Payout Total Policyholder account balances & benefit reserves: (1) Fixed Variable Individual Payout Total Group annuities: Net written premiums & deposits (2) Policyholder account balances & benefit reserves: (1) GIC's and other investment contracts Payout Group annuities Total Individual life insurance: Net written premiums and deposits: Direct periodic premiums and deposits Single premium deposits Reinsurance Total Policyholder account balances & benefit reserves Life insurance in force (in billions, face amt.) Life insurance issued (in billions, face amt.) All businesses: Net investment income (pretax) Interest credited to contractholders Statutory data: Travelers Insurance Company Statutory capital and surplus Surplus to liabilities ratio $ $ 1,010 126 603 281 94 187 $ $ 2Q 2000 983 97 586 300 98 202 $ $ 3Q 2000 899 103 531 265 86 179 $ $ 4Q 2000 999 83 605 311 102 209 $ $ 1Q 2001 1,130 88 729 313 103 210 $ $ 2Q 2001 975 87 546 342 111 231 $ $ 3Q 2001 875 69 549 257 79 178 $ $ 4Q 2001 1,108 85 728 295 93 202 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 11% 2% 20% (5%) (9%) (3%) $ $ YTD 4Q 2000 3,891 409 2,325 1,157 380 777 $ $ YTD 4Q 2001 4,088 329 2,552 1,207 386 821 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 5% (20%) 10% 4% 2% 6% $ 108 92 60 21 281 $ 118 114 55 13 300 $ 117 91 40 17 265 $ 122 123 46 20 311 $ 122 117 63 11 313 $ 125 134 74 9 342 $ 100 98 50 9 257 $ 105 107 75 8 295 (14%) (13%) 63% (60%) (5%) $ 465 420 201 71 1,157 $ 452 456 262 37 1,207 (3%) 9% 30% (48%) 4% $ $ $ $ $ $ $ $ $ $ $ 294 1,245 20 1,559 $ 303 1,258 22 1,583 $ 320 1,274 21 1,615 $ 350 1,248 17 1,615 $ 427 1,099 19 1,545 $ 572 1,068 15 1,655 $ 464 952 14 1,430 $ 657 881 11 1,549 88% (29%) (35%) (4%) $ 1,267 5,025 80 6,372 $ 2,120 4,000 59 6,179 67% (20%) (26%) (3%) $ $ $ $ $ $ $ $ $ $ $ 7,911 21,073 620 29,604 $ 7,904 21,013 626 29,543 $ 7,940 21,678 630 30,248 $ 8,050 20,704 630 29,384 $ 8,272 18,948 632 27,852 $ 8,609 20,438 632 29,679 $ 8,908 17,952 630 27,490 $ 9,289 20,117 626 30,032 15% (3%) (1%) 2% $ $ $ $ $ $ $ $ $ 1,457 $ 1,439 $ 1,482 $ 1,150 $ 2,502 $ 1,397 $ 1,717 $ 1,452 26% $ 5,528 $ 7,068 28% $ $ 11,087 4,515 15,602 $ $ 11,204 4,624 15,828 $ $ 11,967 4,714 16,681 $ $ 12,599 4,861 17,460 $ $ 13,732 5,141 18,873 $ $ 14,091 5,259 19,350 $ $ 14,795 5,360 20,155 $ $ 15,345 5,647 20,992 22% 16% 20% $ 117 18 (19) 116 2,755 61.7 2.7 $ 113 21 (20) 114 2,802 63.2 3.0 $ 136 22 (21) 137 2,911 65.2 3.1 $ 145 37 (23) 159 2,983 66.9 2.9 $ 187 47 (22) 212 3,085 69.4 3.8 $ 142 48 (24) 166 3,193 71.0 2.9 $ 126 36 (25) 137 3,175 72.5 2.9 $ 197 77 (25) 249 3,401 75.0 4.2 36% NM (9%) 57% 14% 12% 45% $ 511 98 (83) 526 $ 652 208 (96) 764 28% NM (16%) 45% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 11.7 $ 13.8 18% $ $ 595 245 $ $ 639 249 $ $ 609 267 $ $ 656 290 $ $ 655 291 $ $ 674 306 $ $ 608 303 $ $ 635 300 (3%) 3% $ $ 2,499 1,051 $ $ 2,572 1,200 3% 14% $ 5,011 20.5% $ 4,977 20.3% $ 5,355 21.3% $ 5,160 20.2% $ 5,025 18.8% $ 5,048 18.9% $ 4,973 17.5% $ 5,098 17.4% (1%) (1) Includes general account, separate accounts and managed funds. (2) Excludes deposits of $28.0, $12.0, $594.0 and $275.0 for the first, second, third and fourth quarters of 2001 and $24.0, $45.0 and $241.0 in the first, second, and fourth quarters of 2000, related to Travelers plans previously managed externally. * Excludes realized gains / (losses) on investments. NM Not meaningful Reclassified to conform to the current period's presentation. Page 20 Slide 22: GLOBAL INVESTMENT MANAGEMENT AND PRIVATE BANKING THE CITIGROUP PRIVATE BANK (In millions of dollars) 1Q 2000 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) YTD 4Q 2000 YTD 4Q 2001 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) Total Revenues, Net of Interest Expense Adjusted Operating Expenses Provision for Loan Losses Core Income Before Taxes Income Taxes Core Income Average Assets (in billions of dollars) Return on Assets Client Business Volumes (in billions of dollars) $ 363 214 22 127 47 $ 339 211 3 125 46 $ 337 215 (3) 125 46 $ 370 234 2 134 49 $ 390 235 2 153 56 $ 375 226 1 148 55 $ 365 221 4 140 47 $ 406 242 16 148 53 10% 3% NM 10% 8% 12% (4%) $ 1,409 874 24 511 188 $ 1,536 924 23 589 211 9% 6% (4%) 15% 12% 17% 4% $ $ 80 23 1.40% $ $ 79 25 1.27% $ $ 79 26 1.21% $ $ 85 27 1.25% $ $ 97 25 1.57% $ $ 93 26 1.43% $ $ 93 26 1.42% $ $ 95 26 1.45% $ $ 323 25 1.29% $ $ 378 26 1.45% $ 144 $ 149 $ 154 $ 153 $ 146 $ 150 $ 149 $ 158 3% $ 153 $ 158 3% Client Business Volumes (in billions of dollars): Proprietary Managed Assets Other Assets under Fee based Management Banking and Fiduciary Deposits Loans Other, Principally Custody Accounts Total Client Business Volumes $ 29 4 28 25 58 144 $ 30 5 28 27 59 149 $ 31 5 28 27 63 154 $ 31 5 31 28 58 153 $ 29 5 31 26 55 146 $ 28 7 31 26 58 150 $ 28 6 33 27 55 149 $ 31 7 34 27 59 158 40% 10% (4%) 2% 3% $ $ $ $ $ $ $ $ Revenues: Customer Revenues Net Interest Spread and Recurring Fee Based Revenues Transaction Revenues Total Customer Revenues Other Revenues (Principally Allocated Equity and Treasury Revenues) Total Revenues United States International $ 234 84 318 45 $ 242 65 307 32 $ 242 64 306 31 $ 253 78 331 39 $ 249 97 346 44 $ 247 79 326 49 $ 254 60 314 51 $ 256 92 348 58 1% 18% 5% 49% 10% 16% 6% 10% $ 971 291 1,262 147 $ 1,006 328 1,334 202 4% 13% 6% 37% 9% 12% 7% 9% $ $ $ 363 122 241 363 0.18% $ $ $ 339 121 218 339 0.05% $ $ $ 337 125 212 337 0.03% $ $ $ 370 129 241 370 0.13% $ $ $ 390 131 259 390 (0.01%) $ $ $ 375 138 237 375 0.04% $ $ $ 365 140 225 365 0.03% $ $ $ 406 150 256 406 0.15% $ $ $ 1,409 497 912 1,409 $ $ $ 1,536 559 977 1,536 Net Credit Loss Ratio (1) NM Not meaningful (1) The net credit loss ratio in the 2000 fourth quarter includes an 8 basis point increase related to ICERC mandated write-offs. Page 21 Slide 23: GLOBAL INVESTMENT MANAGEMENT AND PRIVATE BANKING CITIGROUP ASSET MANAGEMENT (In millions of dollars) 1Q 2000 Revenues: Investment advisory, admin. & distribution fees Unit Investment Trust revenues - net Other revenues, net of interest expense Total revenues, net of interest expense Expenses: Employee compensation and benefits Mutual fund commission expense Other expenses Total expenses Provision for Benefits and Claims (1) Core income before taxes and minority interest Income taxes and minority interest, net of tax Core income Pre-tax profit margin Assets Under Management by Product Type (in billions of dollars): Money market and institutional liquidity funds: Retail Institutional Total money market and institutional liquidity funds Long-term mutual funds: Equity / Balanced Taxable Fixed Income Tax Exempt Fixed Income Annuities Total long-term mutual funds Managed accounts: Private client Institutional Emerging Markets Pension Administration Total managed accounts Unit Investment Trusts held in client accounts Alternative Investment Strategies Total assets under management (2) Assets Under Management by Client Type (in billions of dollars): Retail Emerging Markets Pension Administration Institutional (including Alternative Investment Strategies) Total assets under management Number of Morningstar 4- and 5-star funds Equity Fixed Income Global Retirement Services (in billions of dollars): Emerging Markets Pension Administration Assets Under Management (3) Number of Participants / Affiliates (in millions) CitiStreet Joint Venture - Assets Under Administration 7 13 $ $ $ 399 12 12 423 130 29 109 268 155 62 93 36.6% $ $ 2Q 2000 451 7 3 461 143 34 141 318 143 56 87 31.0% $ $ 3Q 2000 453 16 2 471 145 26 146 317 154 61 93 32.7% $ $ 4Q 2000 488 4 (2) 490 161 29 153 343 26 121 49 72 24.7% $ $ 1Q 2001 479 7 19 505 160 35 148 343 13 149 60 89 29.5% $ $ 2Q 2001 464 5 8 477 161 35 132 328 14 135 55 80 28.3% $ $ 3Q 2001 511 8 4 523 167 33 141 341 28 154 61 93 29.4% $ $ 4Q 2001 457 3 (36) 424 143 31 123 297 2 125 51 74 29.5% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) (6%) (25%) NM (13%) (11%) 7% (20%) (13%) (92%) 3% 4% 3% $ $ YTD 4Q 2000 1,791 39 15 1,845 579 118 549 1,246 26 573 228 345 $ $ YTD 4Q 2001 1,911 23 (5) 1,929 631 134 544 1,309 57 563 227 336 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 7% (41%) NM 5% 9% 14% (1%) 5% NM (2%) (3%) $ 86.5 17.4 103.9 $ 82.6 18.6 101.2 $ 86.8 20.4 107.2 $ 90.6 23.9 114.5 $ 84.7 31.1 115.8 $ 72.2 38.2 110.4 $ 69.8 48.0 117.8 $ 66.7 53.3 120.0 (26%) NM 5% 54.7 16.4 8.5 5.8 85.4 54.4 97.8 152.2 12.3 33.0 386.8 $ 54.5 16.5 8.3 5.8 85.1 55.5 96.7 3.4 155.6 11.2 34.3 387.4 $ 55.9 15.1 8.5 6.1 85.6 59.5 94.0 3.6 157.1 10.9 34.4 395.2 $ 53.8 14.4 8.9 6.0 83.1 61.2 91.7 4.0 156.9 9.4 35.8 399.7 $ 49.8 16.6 9.3 5.9 81.6 59.4 86.1 4.4 149.9 7.8 36.5 391.6 $ 54.6 16.4 10.3 6.4 87.7 63.1 94.0 4.6 161.7 8.1 39.1 407.0 $ 45.6 17.9 11.2 5.8 80.5 59.0 90.7 5.8 155.5 7.4 39.4 400.6 $ 52.3 18.9 11.2 6.7 89.1 66.7 89.8 5.0 161.5 6.9 39.4 416.9 (3%) 31% 26% 12% 7% 9% (2%) 25% 3% (27%) 10% 4% $ 236.2 150.6 386.8 $ 231.1 3.4 152.9 387.4 $ 240.6 3.6 151.0 395.2 $ 242.2 4.0 153.5 399.7 $ 231.2 4.4 156.0 391.6 $ 229.3 4.6 173.1 407.0 $ 214.9 5.8 179.9 400.6 $ 227.3 5.0 184.6 416.9 (6%) 25% 20% 4% $ $ $ $ $ $ $ $ 7 12 10 12 11 11 12 11 11 5 11 8 10 7 $ $ 13.0 4.4 - $ $ 12.6 4.4 189.2 $ $ 12.8 4.5 196.4 $ $ 13.1 4.6 180.7 $ $ 13.7 4.7 183.5 $ $ 14.0 4.8 181.6 $ $ 14.2 5.1 178.8 $ $ 14.3 5.2 179.3 9% 13% (1%) (1) Includes a fourth quarter 2000 year-to-date reclassification which increased both Revenues and Provision for Benefits and Claims by $26 million. (2) Includes $31 billion for the 2000 first, second and third quarters, $30 billion for the fourth quarter of 2000 , $29 billion for the first, second and third quarters of 2001 and $31 billion for the fourth quarter of 2001 for Citigroup Private Bank clients. (3) Includes assets under management for both majority- and minority-owned pension fund administration businesses in Latin America (excluding Mexico). NM Not meaningful Page 22 Slide 24: INVESTMENT ACTIVITIES (1) (In millions of dollars) 1Q 2000 Revenues: Proprietary Investments (2) LDC Debt Sales/Refinancing Insurance Portfolio Realized Gains (Losses) (3) Total Revenues $ 1,389 (112) (235) 1,042 $ 2Q 2000 333 69 24 426 $ 3Q 2000 94 354 48 496 $ 4Q 2000 226 20 99 345 $ 1Q 2001 (99) 20 312 233 $ 2Q 2001 294 16 50 360 $ 3Q 2001 (369) 10 195 (164) $ 4Q 2001 554 13 (89) 478 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) NM (35%) NM 39% $ YTD 4Q 2000 2,042 331 (64) 2,309 $ YTD 4Q 2001 380 59 468 907 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) (81%) (82%) NM (61%) $ $ $ $ $ $ $ $ $ $ Core Income: Proprietary Investments (2) LDC Debt Sales/Refinancing Insurance Portfolio Realized Gains (Losses) (3) Total Core Income $ 867 (70) (147) 650 $ 196 42 17 255 $ 32 222 30 284 $ 118 12 64 194 $ (83) 12 202 131 $ 197 10 33 240 $ (253) 6 127 (120) $ 330 7 (58) 279 NM (42%) NM 44% $ 1,213 206 (36) 1,383 $ 191 35 304 530 (84%) (83%) NM (62%) $ $ $ $ $ $ $ $ $ $ Period End Assets: Proprietary Investments LDC Debt Sales/Refinancing Total Period End Assets $ $ 8,342 3,285 11,627 $ $ 8,676 3,002 11,678 $ $ 8,477 2,651 11,128 $ $ 8,644 2,118 10,762 $ $ 8,261 2,069 10,330 $ $ 7,974 1,980 9,954 $ $ 8,607 1,393 10,000 $ $ 8,471 798 9,269 (2%) (62%) (14%) (1) Includes the investment portfolio relating to Banamex beginning in the third quarter 2001. (2) Includes Venture Capital Activities and certain other corporate investments. (3) Represents realized gains (losses) on investments held by insurance companies. NM Not meaningful Page 23 Slide 25: CITIGROUP CONSOLIDATED STATEMENT OF INCOME (In millions of dollars) 1Q 2000 Revenues Loan interest, including fees Other interest and dividends Insurance premiums Commissions and fees Principal transactions Asset management and administration fees Realized gains (losses) from sales of investments Other income Total revenues Interest expense Total revenues, net of interest expense Benefits, Claims, and Credit Losses Policyholder benefits and claims Provision for credit losses Total benefits, claims, and credit losses Operating Expenses Non-insurance compensation and benefits Insurance underwriting, acquisition and operating Restructuring and merger-related items (1) Other operating Total operating expenses Income before Income Taxes, Minority Interest and Cumulative Effect of Accounting Changes Provision for income taxes Minority interest, net of income taxes Income before Cumulative Effect of Accounting Changes Cumulative effect of accounting changes (2) Net Income $ $ 8,449 5,994 2,994 4,124 1,723 1,284 (173) 2,420 26,815 7,685 19,130 $ 2Q 2000 9,127 6,666 3,015 4,035 1,435 1,332 280 1,169 27,059 8,839 18,220 $ 3Q 2000 9,717 7,172 3,107 4,077 1,547 1,331 508 1,165 28,624 9,789 18,835 $ 4Q 2000 10,084 7,730 3,313 4,127 1,276 1,391 191 1,216 29,328 10,325 19,003 $ 1Q 2001 10,004 7,169 3,361 4,132 2,325 1,389 451 973 29,804 9,523 20,281 $ 2Q 2001 9,753 7,013 3,217 3,752 1,417 1,331 60 1,311 27,854 8,469 19,385 $ 3Q 2001 10,289 6,827 3,310 3,840 1,019 1,371 213 845 27,714 8,327 19,387 $ 4Q 2001 9,570 5,940 3,572 4,220 783 1,298 (146) 1,413 26,650 5,646 21,004 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) (5%) (23%) 8% 2% (39%) (7%) NM 16% (9%) (45%) 11% $ YTD 4Q 2000 37,377 27,562 12,429 16,363 5,981 5,338 806 5,970 111,826 36,638 75,188 $ YTD 4Q 2001 39,616 26,949 13,460 15,944 5,544 5,389 578 4,542 112,022 31,965 80,057 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 6% (2%) 8% (3%) (7%) 1% (28%) (24%) (13%) 6% 2,376 1,309 3,685 2,451 1,302 3,753 2,539 1,221 3,760 2,781 1,507 4,288 2,727 1,474 4,201 2,681 1,485 4,166 3,403 1,580 4,983 2,948 2,261 5,209 6% 50% 21% 10,147 5,339 15,486 11,759 6,800 18,559 16% 27% 20% 4,587 918 20 3,842 9,367 6,078 2,167 55 3,856 3,856 $ 4,630 883 3 3,774 9,290 5,177 1,818 20 3,339 3,339 $ 4,838 876 70 3,836 9,620 5,455 1,958 13 3,484 3,484 $ 4,578 966 666 4,072 10,282 4,433 1,582 11 2,840 2,840 $ 5,329 999 132 4,041 10,501 5,579 1,990 9 3,580 (42) 3,538 $ 4,762 990 213 3,627 9,592 5,627 1,960 15 3,652 (116) 3,536 $ 4,525 956 134 3,908 9,523 4,881 1,678 26 3,177 3,177 $ 4,833 976 (21) 4,197 9,985 5,810 1,898 37 3,875 3,875 6% 1% NM 3% (3%) 31% 20% NM 36% 36% $ 18,633 3,643 759 15,524 38,559 21,143 7,525 99 13,519 13,519 $ 19,449 3,921 458 15,773 39,601 21,897 7,526 87 14,284 (158) 14,126 4% 8% (40%) 2% 3% 4% (12%) 6% NM 4% (1) Restructuring and merger-related items in the 2000 fourth quarter primarily related to the acquisition of Associates First Capital Corporation, in the 2001 first quarter related principally to severance and costs associated with the reduction of staff in the Global Corporate businesses, in the 2001 second quarter related principally to severance and costs associated with the reduction of staff primarily in the Global Corporate and Global Consumer businesses, in the 2001 third quarter primarily related to the acquisition of Banamex and the integration of its operations within the Global Consumer business, and in the 2001 fourth quarter primarily related to reductions in the reserve due to changes in estimates. Accounting Changes refer to the first quarter 2001 adoption of Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities", as amended (SFAS 133) and the second quarter 2001 adoption of EITF issue 99-20, "Recognition of Interest Income and Impairment on Purchased and Retained Beneficial Interests in Securitized Financial Assets" (EITF 99-20). (2) NM - Not meaningful Page 24 Slide 26: CITIGROUP EARNINGS ANALYSIS - MANAGED BASIS (In millions of dollars) 1Q 2000 Total Revenues, Net of Interest Expense Effect of Securitization Activities Housing Finance Unit Charge Adjusted Revenues, Net of Interest Expense Total Operating Expenses Restructuring and Merger-Related Items (1) Housing Finance Unit Charge Adjusted Operating Expenses Benefits, Claims and Credit Losses Effect of Securitization Activities Housing Finance Unit Charge Adjusted Benefits, Claims and Credit Losses Core Income Before Income Taxes and Minority Interest Taxes on Core Income Minority Interest, Net of Income Taxes Core Income Restructuring and Merger-Related Items, after-tax (1) Housing Finance Unit Charge, after-tax Cumulative Effect of Accounting Changes (2) Net Income $ $ 19,130 662 47 19,839 9,367 (20) (25) 9,322 3,685 662 (40) 4,307 6,210 2,216 55 3,939 (12) (71) 3,856 $ $ 2Q 2000 18,220 574 18,794 9,290 (3) 9,287 3,753 574 4,327 5,180 1,819 20 3,341 (2) 3,339 $ $ 3Q 2000 18,835 573 19,408 9,620 (70) 9,550 3,760 573 4,333 5,525 1,983 13 3,529 (45) 3,484 $ $ 4Q 2000 19,003 650 19,653 10,282 (666) 9,616 4,288 650 4,938 5,099 1,757 11 3,331 (491) 2,840 $ $ 1Q 2001 20,281 766 21,047 10,501 (132) 10,369 4,201 766 4,967 5,711 2,042 9 3,660 (80) (42) 3,538 $ $ 2Q 2001 19,385 930 20,315 9,592 (213) 9,379 4,166 930 5,096 5,840 2,040 15 3,785 (133) (116) 3,536 $ $ 3Q 2001 19,387 907 20,294 9,523 (134) 9,389 4,983 907 5,890 5,015 1,727 26 3,262 (85) 3,177 $ $ 4Q 2001 21,004 965 21,969 9,985 21 10,006 5,209 965 6,174 5,789 1,890 37 3,862 13 3,875 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 11% 48% 12% (3%) NM 4% 21% 48% 25% 14% 8% NM 16% NM 36% $ $ YTD 4Q 2000 75,188 2,459 47 77,694 38,559 (759) (25) 37,775 15,486 2,459 (40) 17,905 22,014 7,775 99 14,140 (550) (71) 13,519 $ $ YTD 4Q 2001 80,057 3,568 83,625 39,601 (458) 39,143 18,559 3,568 22,127 22,355 7,699 87 14,569 (285) (158) 14,126 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 6% 45% 8% 3% 40% 4% 20% 45% 24% 2% (1%) (12%) 3% 48% NM 4% (1) Restructuring and merger-related items in the 2000 fourth quarter primarily related to the acquisition of Associates First Capital Corporation, in the 2001 first quarter related principally to severance and costs associated with the reduction of staff in the Global Corporate businesses, in the 2001 second quarter related principally to severance and costs associated with the reduction of staff primarily in the Global Corporate and Global Consumer businesses, in the 2001 third quarter primarily related to the acquisition of Banamex and the integration of its operations within the Global Consumer business, and in the 2001 fourth quarter primarily related to reductions in the reserve due to changes in estimates. Accounting Changes refer to the first quarter 2001 adoption of Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities", as amended (SFAS 133) and the second quarter 2001 adoption of EITF issue 99-20, "Recognition of Interest Income and Impairment on Purchased and Retained Beneficial Interests in Securitized Financial Assets" (EITF 99-20). (2) NM - Not meaningful Page 25 Slide 27: CONSUMER LOAN DELINQUENCY AMOUNTS, NET CREDIT LOSSES AND RATIOS (In millions of dollars, except loan amounts in billions) EOP Loans Average Loans 90 Days Or More Past Due (1) Net Credit Losses (1) 4Q00 Citibanking North America Ratio Mortgage Banking Ratio Citi Cards Ratio Other Cards Ratio CitiFinancial Ratio Western Europe Ratio CEEMEA Ratio Asia (excluding Japan) Ratio Japan Ratio Mexico Ratio Latin America Ratio The Citigroup Private Bank Ratio $ 35 0.48% 846 2.01% 1,497 1.46% 6 0.35% 1,272 2.23% 835 4.78% 32 1.37% 335 1.51% 101 0.73% 15 5.17% 235 3.59% 61 0.23% $ 3Q01 85 0.68% 1,204 2.74% 1,908 1.82% 5 0.36% 1,909 3.20% 817 4.29% 32 1.30% 348 1.65% 174 1.12% 507 9.06% 255 4.51% 78 0.31% 4Q01 $ 96 0.82% 1,157 2.53% 2,135 1.98% 6 0.61% 2,002 3.32% 800 4.21% 36 1.41% 367 1.73% 178 1.24% 523 8.75% 248 4.71% 135 0.53% $ 4Q01 11.7 4Q00 $ 16 0.90% 28 0.27% 1,051 4.22% 29 6.44% 360 2.57% 101 2.40% 11 2.10% 65 1.18% 131 3.81% 3 3.38% 95 5.69% 8 0.13% 3Q01 $ 33 1.12% 12 0.10% 1,423 5.48% 10 2.80% 376 2.53% 85 1.82% 10 1.62% 65 1.21% 149 4.04% 33 3.43% 76 5.20% 2 0.03% 4Q01 $ 30 1.00% 13 0.12% 1,554 5.91% 13 4.39% 474 3.14% 87 1.83% 10 1.60% 68 1.28% 174 4.53% 57 3.88% 69 4.93% 10 0.15% 4Q01 $ 11.7 45.7 45.2 107.7 104.4 1.0 1.2 60.2 59.9 19.0 18.8 2.5 2.4 21.2 21.2 14.4 15.2 6.0 5.8 5.3 5.6 25.7 25.1 Other 30 20 18 4.0 4 10 21 3.6 Total Managed Ratio $ 5,300 1.75% $ 7,342 2.29% $ 7,701 2.37% $ 324.4 $ 1,902 2.56% $ 2,284 2.88% $ 2,580 3.20% $ 320.1 Page 26 Slide 28: DETAILS OF CREDIT LOSS EXPERIENCE (In millions of dollars) 1Q 2000 Allowance for credit losses at beginning of period Provision for credit losses Consumer Commercial $ 8,853 1,092 217 1,309 $ 2Q 2000 8,713 1,062 240 1,302 $ 3Q 2000 8,852 1,078 143 1,221 $ 4Q 2000 8,900 1,113 394 1,507 $ 1Q 2001 8,961 1,197 277 1,474 $ 2Q 2001 8,957 1,196 289 1,485 $ 3Q 2001 8,917 1,360 220 1,580 $ 4Q 2001 9,918 1,563 698 2,261 Gross credit losses Consumer Commercial 1,284 198 1,482 209 24 233 1,290 252 1,542 246 27 273 1,269 106 $ 8,852 $1,044 2.07% $225 0.72% $ 1,266 169 1,435 229 35 264 1,171 (2) 8,900 $1,037 1.89% $134 0.40% $ 1,512 287 1,799 245 49 294 1,505 59 8,961 $1,267 2.25% $238 0.69% $ 1,364 331 1,695 199 54 253 1,442 (36) 8,957 $1,165 2.10% $277 0.81% $ 1,407 369 1,776 183 82 265 1,511 (14) 8,917 $1,224 2.19% $287 0.82% $ 1,588 402 1,990 211 119 330 1,660 1,081 9,918 $1,377 2.31% $283 0.73% $ 1,874 953 2,827 260 152 412 2,415 324 10,088 $1,614 2.66% $801 2.08% Credit recoveries Consumer Commercial Net credit losses Other -- net (1) 1,249 (200) $ 8,713 $1,075 2.23% $174 0.59% Allowance for credit losses at end of period Net consumer credit losses As a percentage of Average consumer loans Net commercial credit losses As a percentage of Average commercial loans ALLOWANCE FOR CREDIT LOSSES Consumer Commercial Total Allowance for Credit Losses Allowance As a Percent of Total Loans Consumer Commercial Total (1) $ $ 5,040 3,673 8,713 $ $ 5,062 3,790 8,852 $ $ 5,105 3,795 8,900 $ $ 4,946 4,015 8,961 $ $ 4,956 4,001 8,957 $ $ 4,914 4,003 8,917 $ $ 5,239 4,679 9,918 $ $ 5,169 4,919 10,088 2.56% 2.95% 2.71% 2.39% 2.83% 2.56% 2.30% 2.72% 2.46% 2.16% 2.90% 2.44% 2.24% 2.75% 2.44% 2.20% 2.79% 2.43% 2.17% 2.97% 2.48% 2.13% 3.31% 2.57% The third quarter 2001 includes the addition of $1 Billion of credit loss reserves related to the acquisition of Banamex. A review of the Banamex credit portfolio was completed in the fourth quarter resulting in an increase to the allowance for credit losses. This increase does not relate to credit deterioration in the 2001 fourth quarter. Page 27 Slide 29: CITIGROUP SUPPLEMENTAL DATA (In millions of dollars) 1Q 2000 CASH-BASIS AND RENEGOTIATED LOANS Commercial Cash-Basis Loans Collateral Dependent (at lower of cost or collateral value) (2) Other Total Commercial Cash-Basis Loans Commercial Cash-Basis Loans Emerging Markets Corporate Banking and Global Transaction Services Mexico Corporate and Investment Bank Insurance Subsidiaries Investment Activities Total Commercial Cash-Basis Loans Commercial Renegotiated Loans Consumer Loans on which Accrual of Interest has been Suspended 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 (1) 4Q 2001 (1) $ $ 412 1,218 1,630 $ $ 356 1,428 1,784 $ $ 348 1,515 1,863 $ $ 390 1,580 1,970 $ $ 528 1,889 2,417 $ $ 527 2,102 2,629 $ $ 699 2,721 3,420 $ $ 699 3,342 4,041 $ 1,000 66 494 59 11 1,630 677 $ 1,061 71 611 38 3 1,784 720 $ 1,091 80 648 40 4 1,863 731 $ 1,069 79 776 44 2 1,970 785 $ 1,137 68 1,149 55 8 2,417 909 $ 1,279 164 1,149 24 13 2,629 864 $ 1,563 600 1,225 26 6 3,420 748 $ 1,465 1,030 1,525 19 2 4,041 681 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 3,736 $ 3,678 $ 3,567 $ 3,808 $ 3,804 $ 4,111 $ 4,431 $ 4,234 OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS Consumer (3) Emerging Markets Corporate Banking and Global Transaction Services Mexico Corporate and Investment Bank Insurance Subsidiaries Total Commercial (3) Corporate/Other TOTAL OTHER REAL ESTATE OWNED OTHER REPOSSESSED ASSETS (4) $ 370 41 2 141 310 494 9 $ 380 42 1 135 114 292 8 $ 423 41 1 122 113 277 8 $ 366 72 2 115 102 291 8 $ 268 63 2 108 123 296 8 $ 289 61 1 107 111 280 8 $ 407 38 1 110 112 261 9 $ 393 38 64 118 220 8 $ $ 873 270 $ $ 680 263 $ $ 708 247 $ $ 665 292 $ $ 572 419 $ $ 577 409 $ $ 677 479 $ $ 621 439 (1) The third and fourth quarters of 2001 include Banamex loan data. A review of the Banamex credit portfolio was completed in the fourth quarter which caused commercial cash-basis loans to increase. This increase does not relate to credit deterioration in the 2001 fourth quarter. (2) A cash-basis loan is defined as collateral dependent when repayment is expected to be provided solely by the underlying collateral and there are no other available and reliable sources of repayment, in which case the loans are written down to the lower of cost or collateral value. (3) Represents repossessed real estate, carried at lower of cost or fair value, less costs to sell. (4) Primarily commercial transportation equipment, carried at lower of cost or fair value, less costs to sell. Page 28 Slide 30: INSURANCE INVESTMENT PORTFOLIO (1) (In millions of dollars) 1Q 2000 Fixed-income investments: Available for sale, at market: Mortgage-backed securities - principally obligations of U.S. Government agencies U.S. Treasury securities and Obligations of U.S. Government corporations and agencies Corporates (including redeemable preferreds) Obligations of states and political subdivisions Debt securities issued by foreign governments Held to maturity, at amortized cost Total fixed income Equity securities, at market Short-term and other Total investments held by Insurance companies $ 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) $ 10,422 3,439 28,499 10,412 1,623 32 54,427 2,301 6,943 63,671 $ 10,430 3,063 29,124 10,311 1,700 31 54,659 2,209 6,848 $ 10,760 3,176 28,810 10,435 1,966 30 55,177 2,075 8,215 $ 11,619 3,247 28,894 10,784 1,607 29 56,180 2,326 8,477 $ 13,032 3,099 30,872 11,349 1,368 29 59,749 2,443 8,029 $ 13,541 2,248 31,321 11,330 1,566 28 60,034 2,321 6,947 $ 14,137 2,472 31,510 11,475 1,330 27 60,951 2,112 9,616 $ 13,723 3,284 31,091 11,170 1,474 15 60,757 1,633 9,863 18% 1% 8% 4% (8%) (48%) 8% (30%) 16% 8% $ 63,716 $ 65,467 $ 66,983 $ 70,221 $ 69,302 $ 72,679 $ 72,253 After tax unrealized gains / (losses) on invested assets $ (290) $ (461) $ (56) $ 531 $ 793 $ 458 $ 904 $ 470 (11%) (1) Includes investments held by insurance companies. Page 29 Slide 31: GLOBAL CONSUMER GLOBAL CARDS SUPPLEMENTAL DATA (In millions of dollars) 1Q 2000 Adjusted Revenues, Net of Interest Expense Adjusted Operating Expenses Adjusted Provision for Loan Losses (1) Core Income Before Taxes Income Taxes Core Income Managed Average Assets (in billions of dollars) Return on Managed Assets $ $ $ 3,112 1,263 1,098 751 276 475 100 1.91% $ $ $ 2Q 2000 3,156 1,288 1,058 810 298 512 104 1.98% $ $ $ 3Q 2000 3,322 1,319 1,055 948 344 604 111 2.16% $ $ $ 4Q 2000 3,515 1,347 1,162 1,006 361 645 115 2.23% $ $ $ 1Q 2001 3,595 1,337 1,322 936 343 593 117 2.06% $ $ $ 2Q 2001 3,690 1,302 1,488 900 330 570 117 1.95% $ $ $ 3Q 2001 4,040 1,346 1,541 1,153 417 736 122 2.39% $ $ $ 4Q 2001 4,306 1,351 1,693 1,262 427 835 122 2.72% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 23% 46% 25% 18% 29% 6% $ $ $ YTD 4Q 2000 13,105 5,217 4,373 3,515 1,279 2,236 108 2.07% $ $ $ YTD 4Q 2001 15,631 5,336 6,044 4,251 1,517 2,734 120 2.28% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 19% 2% 38% 21% 19% 22% 11% KEY INDICATORS (in billions of dollars) End of Period Managed Receivables Total EOP Open Accounts (in millions) Total Sales Coincident Net Credit Loss Ratio % Loans 90+ Days Past Due % $ $ 98.4 91.0 60.0 4.57% 1.55% $ $ 104.9 96.7 67.8 4.22% 1.33% $ $ 110.2 102.7 67.8 3.90% 1.35% $ $ 115.8 104.4 69.4 4.19% 1.47% $ $ 112.1 106.7 62.6 4.73% 1.82% $ $ 116.2 107.8 67.2 5.37% 1.73% $ $ 119.2 109.8 66.7 5.23% 1.80% $ $ 122.5 109.1 69.2 5.70% 1.96% 6% 5% - GEOGRAPHIC DISTRIBUTION Core Income North America International Total Average Loans North America International Total Total EOP Open Accounts (in millions) North America International Total Total Sales North America International Total Net Credit Losses (in millions of dollars): North America International Total $ $ 380 95 475 $ $ 388 124 512 $ $ 492 112 604 $ $ 527 118 645 $ $ 467 126 593 $ $ 455 115 570 $ $ 573 163 736 $ $ 638 197 835 21% 67% 29% $ $ 1,787 449 2,236 $ $ 2,133 601 2,734 19% 34% 22% $ $ 86.3 10.1 96.4 $ $ 90.1 10.3 100.4 $ $ 96.5 10.6 107.1 $ $ 100.8 10.5 111.3 $ $ 101.8 10.1 111.9 $ $ 102.3 10.2 112.5 $ $ 104.5 12.2 116.7 $ $ 105.5 12.2 117.7 5% 16% 6% $ $ 93.4 10.4 103.8 $ $ 103.5 11.2 114.7 11% 8% 11% 79.5 11.5 91.0 84.9 11.8 96.7 90.5 12.2 102.7 91.8 12.6 104.4 94.3 12.4 106.7 95.1 12.7 107.8 94.5 15.3 109.8 93.9 15.2 109.1 2% 21% 5% $ $ 51.6 8.4 60.0 $ $ 58.7 9.1 67.8 $ $ 58.5 9.3 67.8 $ $ 60.0 9.4 69.4 $ $ 54.4 8.2 62.6 $ $ 58.7 8.5 67.2 $ $ 57.5 9.2 66.7 $ $ 58.9 10.3 69.2 (2%) 10% - $ $ 228.8 36.2 265.0 $ $ 229.5 36.2 265.7 - $ $ 990 105 1,095 $ $ 961 93 1,054 $ $ 956 94 1,050 $ $ 1,080 93 1,173 $ $ 1,207 99 1,306 $ $ 1,395 113 1,508 $ $ 1,433 104 1,537 $ $ 1,567 124 1,691 45% 33% 44% $ $ 3,987 385 4,372 $ $ 5,602 440 6,042 41% 14% 38% (1) On a managed basis. Reclassified to conform to the current period's presentation. Page 30 Slide 32: GLOBAL CONSUMER GLOBAL CONSUMER FINANCE SUPPLEMENTAL DATA (In millions of dollars) 1Q 2000 Adjusted Revenues, Net of Interest Expense Adjusted Operating Expenses Adjusted Provision for Loan Losses (1) Core Income Before Taxes Income Taxes Core Income Managed Average Assets (in billions of dollars) Return on Managed Assets $ $ $ 1,842 798 559 485 180 305 66 1.86% $ $ $ 2Q 2000 1,936 834 536 566 210 356 71 2.02% $ $ $ 3Q 2000 1,965 830 539 596 213 383 75 2.03% $ $ $ 4Q 2000 2,136 930 607 599 207 392 80 1.95% $ $ $ 1Q 2001 2,197 936 642 619 230 389 81 1.95% $ $ $ 2Q 2001 2,251 837 634 780 287 493 84 2.35% $ $ $ 3Q 2001 2,350 840 664 846 310 536 86 2.47% $ $ $ 4Q 2001 2,433 786 748 899 325 574 88 2.59% 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) 14% (15%) 23% 50% 57% 46% 10% $ $ $ YTD 4Q 2000 7,879 3,392 2,241 2,246 810 1,436 73 1.97% $ $ $ YTD 4Q 2001 9,231 3,399 2,688 3,144 1,152 1,992 85 2.34% YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 17% 20% 40% 42% 39% 16% Consumer Finance Receivables (in billions of dollars) Number of Offices Net Credit Loss Ratio (1) Loans 90+Days Past Due: In millions of dollars % $ 61.3 3,830 3.21% $ 64.9 3,860 2.83% $ 68.0 3,971 2.73% $ 70.4 4,034 3.14% $ 72.7 3,760 3.07% $ 73.5 3,670 3.02% $ 76.5 3,644 3.08% $ $ 76.4 3,567 3.63% 9% (12%) $ 1,252 2.04% $ 1,229 1.89% $ 1,292 1.90% $ 1,465 2.08% $ 1,808 2.49% $ 1,966 2.67% $ 2,183 2.85% $ 2,295 3.00% 57% GEOGRAPHIC DISTRIBUTION Core Income North America International Total Consumer Finance Receivables North America International Total Number of Offices North America International Total $ $ 179 126 305 $ $ 205 151 356 $ $ 213 170 383 $ $ 213 179 392 $ $ 212 177 389 $ $ 286 207 493 $ $ 308 228 536 $ $ 320 254 574 50% 42% 46% $ $ 810 626 1,436 $ $ 1,126 866 1,992 39% 38% 39% $ $ 49.3 12.0 61.3 $ $ 51.6 13.3 64.9 $ $ 53.2 14.8 68.0 $ $ 55.3 15.1 70.4 $ $ 57.7 15.0 72.7 $ $ 58.5 15.0 73.5 $ $ 59.7 16.8 76.5 $ $ 60.2 16.2 76.4 9% 7% 9% 2,767 1,063 3,830 2,738 1,122 3,860 2,699 1,272 3,971 2,720 1,314 4,034 2,430 1,330 3,760 2,336 1,334 3,670 2,320 1,324 3,644 2,221 1,346 3,567 (18%) 2% (12%) (1) On a managed basis. Page 31 Slide 33: GLOBAL CORPORATE SUPPLEMENTAL PRODUCT AND REGIONAL RESULTS (In millions of dollars) 1Q 2000 Total Revenue Global Corporate Finance (1) Global Transaction Services (2) Private Client Commercial Lines Total Global Corporate Core Income Global Corporate Finance (1) Global Transaction Services (2) Private Client Commercial Lines Total Global Corporate $ 4,061 782 1,917 1,719 8,479 $ 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) YTD 4Q 2000 YTD 4Q 2001 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 3,830 839 1,690 1,788 8,147 $ 3,957 870 1,681 1,928 8,436 $ 3,846 881 1,628 2,062 8,417 $ 5,050 881 1,553 1,970 9,454 $ 4,084 869 1,512 2,018 8,483 $ 3,756 830 1,451 1,977 8,014 $ 4,078 832 1,438 1,998 8,346 6% (6%) (12%) (3%) (1%) $ 15,694 3,372 6,916 7,497 33,479 $ 16,968 3,412 5,954 7,963 34,297 8% 1% (14%) 6% 2% $ $ $ $ $ $ $ $ $ $ $ 1,128 95 359 247 1,829 $ 833 138 254 272 1,497 $ 865 144 251 317 1,577 $ 682 116 208 257 1,263 $ 1,135 114 195 278 1,722 $ 1,026 133 203 286 1,648 $ 1,004 112 179 (136) 1,159 $ 746 119 187 263 1,315 9% 3% (10%) 2% 4% $ 3,508 493 1,072 1,093 6,166 $ 3,911 478 764 691 5,844 11% (3%) (29%) (37%) (5%) $ $ $ $ $ $ $ $ $ $ Regional View Total Revenue JENA (3) Emerging Markets Total Global Corporate Core Income JENA (3) Emerging Markets Total Global Corporate Trading Related Revenue by Product Fixed Income Equities Foreign Exchange All Other Total Trading Related Revenue Trading Related Revenue by Income Statement Line Principal Transactions Net Interest Revenue Total Trading Related Revenue $ $ 7,172 1,307 8,479 $ $ 6,827 1,320 8,147 $ $ 7,089 1,347 8,436 $ $ 7,044 1,373 8,417 $ $ 7,916 1,538 9,454 $ $ 6,952 1,531 8,483 $ $ 6,591 1,423 8,014 $ $ 6,890 1,456 8,346 (2%) 6% (1%) $ $ 28,132 5,347 33,479 $ $ 28,349 5,948 34,297 1% 11% 2% $ $ 1,459 370 1,829 $ $ 1,167 330 1,497 $ $ 1,195 382 1,577 $ $ 855 408 1,263 $ $ 1,273 449 1,722 $ $ 1,187 461 1,648 $ $ 719 440 1,159 $ $ 925 390 1,315 8% (4%) 4% $ $ 4,676 1,490 6,166 $ $ 4,104 1,740 5,844 (12%) 17% (5%) $ 734 505 289 104 1,632 $ 601 430 290 61 1,382 $ 732 391 202 86 1,411 $ 464 394 322 57 1,237 $ 1,289 472 360 64 2,185 $ 959 214 394 47 1,614 $ 824 101 288 38 1,251 $ 935 95 422 48 1,500 NM (76%) 31% (16%) 21% $ 2,531 1,720 1,103 308 5,662 $ 4,007 882 1,464 197 6,550 58% (49%) 33% (36%) 16% $ $ $ $ $ $ $ $ $ $ $ $ 1,489 143 1,632 $ $ 1,240 142 1,382 $ $ 1,369 42 1,411 $ $ 1,099 138 1,237 $ $ 2,063 122 2,185 $ $ 1,255 359 1,614 $ $ 834 417 1,251 $ $ 575 925 1,500 (48%) NM 21% $ $ 5,197 465 5,662 $ $ 4,727 1,823 6,550 (9%) NM 16% (1) Global Corporate Finance includes Global Fixed Income, Global Equities, Global Investment Banking, Emerging Markets (EM) Sales & Trading, EM Local Finance, Loan Portfolio, Robinson Humphrey, Municipals & Stock Loans. (2) Global Transaction Services includes e-Business, Cash Management, Trade Finance and Worldwide Securities Services. (3) JENA includes Japan, Western Europe and North America. NM Not meaningful Reclassified to conform to the current period's presentation. Page 32 Slide 34: CITIGROUP EMERGING MARKETS - EXCLUDING INVESTMENT ACTIVITIES (In millions of dollars) 1Q 2000 REVENUE Asia Mexico Latin America CEEMEA Other Total $ 1,171 197 967 450 29 $ 2,814 $ $ 1,113 136 1,013 482 32 2,776 $ $ 1,111 119 967 536 34 2,767 $ $ 1,118 151 1,019 576 34 2,898 $ $ 1,202 151 1,063 665 24 3,105 $ $ 1,266 161 1,032 587 25 3,071 $ $ 1,146 683 1,105 596 11 3,541 $ $ 1,234 1,122 767 619 5 3,747 10% NM (25%) 7% (85%) 29% $ $ 4,513 603 3,966 2,044 129 11,255 $ $ 4,848 2,117 3,967 2,467 65 13,464 7% NM 0% 21% (50%) 20% 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) YTD 4Q 2000 YTD 4Q 2001 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) CORE INCOME Asia Mexico Latin America CEEMEA Other Total $ 298 43 226 114 1 682 $ 276 6 222 108 (12) 600 $ 286 (3) 214 124 12 633 $ 271 10 259 135 32 707 $ 332 4 266 183 (26) 759 $ 366 11 262 132 (1) 770 $ 325 124 286 152 (4) 883 $ 353 207 22 166 21 769 30% NM (92%) 23% (34%) 9% $ 1,131 56 921 481 33 2,622 $ 1,376 346 836 633 (10) 3,181 22% NM (9%) 32% NM 21% $ $ $ $ $ $ $ $ $ $ CORE INCOME Asia: Consumer (1) Corporate Asset Management & Private Banking Total Asia $ 139 137 22 298 $ 137 123 16 276 $ 137 138 11 286 $ 131 131 9 271 $ 148 156 28 332 $ 147 206 13 366 $ 158 150 17 325 $ 162 172 19 353 24% 31% NM 30% $ 544 529 58 1,131 $ 615 684 77 1,376 13% 29% 33% 22% $ $ $ $ $ $ $ $ $ $ Mexico Latin America: Consumer (1) Corporate Asset Management & Private Banking Total Latin America CEEMEA: Consumer (1) Corporate Asset Management & Private Banking Total CEEMEA Other Emerging Markets: Consumer (1) Corporate Asset Management & Private Banking Total Emerging Markets $ 43 $ 6 $ (3) $ 10 $ 4 $ 11 $ 124 $ 207 NM $ 56 $ 346 NM $ 57 140 29 226 $ 63 125 34 222 $ 60 123 31 214 $ 80 127 52 259 $ 61 159 46 266 $ 72 150 40 262 $ 67 171 48 286 $ (46) 60 8 22 NM (53%) (85%) (92%) $ 260 515 146 921 $ 154 540 142 836 (41%) 5% (3%) (9%) $ $ $ $ $ $ $ $ $ $ $ 15 92 7 114 1 $ 14 94 108 (12) $ 11 109 4 124 12 $ 8 118 9 135 32 $ 18 160 5 183 (26) $ 21 106 5 132 (1) $ 24 123 5 152 (4) $ 24 137 5 166 21 NM 16% (44%) 23% (34%) $ 48 413 20 481 33 $ 87 526 20 633 (10) 81% 27% 0% 32% NM $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 254 370 58 682 $ 220 330 50 600 $ 205 382 46 633 $ 229 408 70 707 $ 231 449 79 759 $ 251 461 58 770 $ 373 440 70 883 $ 347 390 32 769 52% (4%) (54%) 9% $ 908 1,490 224 2,622 $ 1,202 1,740 239 3,181 32% 17% 7% 21% $ $ $ $ $ $ $ $ $ $ (1) Includes Associates. NM - Not meaningful Reclassified to conform to the current period's presentation. Page 33 Slide 35: GLOBAL WEALTH MANAGEMENT Supplemental Data (In millions of dollars) 1Q 2000 REVENUES Private Client Citigroup Asset Management The Citigroup Private Bank Travelers Life & Annuity Global Consumer Investment Products $ 1,917 423 363 1,010 673 $ 4,386 $ $ 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 4Q 2001 vs. 4Q 2000 Increase/ (Decrease) YTD 4Q 2000 YTD 4Q 2001 YTD 4Q 2001 vs. YTD 4Q 2000 Increase/ (Decrease) 1,690 461 339 983 651 4,124 $ 1,681 471 337 899 653 $ 1,628 490 370 999 639 $ 1,553 505 390 1,130 650 $ 1,512 477 375 975 642 $ 1,451 523 365 875 708 $ 1,438 424 406 1,108 818 (12%) (13%) 10% 11% 28% 2% $ 6,916 1,845 1,409 3,891 2,616 $ 5,954 1,929 1,536 4,088 2,818 (14%) 5% 9% 5% 8% (2%) Total Global Wealth Management CORE INCOME Private Client Citigroup Asset Management The Citigroup Private Bank Travelers Life & Annuity Global Consumer Investment Products $ 4,041 $ 4,126 $ 4,228 $ 3,981 $ 3,922 $ 4,194 $ 16,677 $ 16,325 $ 359 93 80 187 162 $ 254 87 79 202 150 $ 251 93 79 179 155 $ 208 72 85 209 141 $ 195 89 97 210 144 $ 203 80 93 231 141 $ 179 93 93 178 144 $ 187 74 95 202 172 (10%) 3% 12% (3%) 22% 2% $ 1,072 345 323 777 608 $ 764 336 378 821 601 (29%) (3%) 17% 6% (1%) (7%) Total Global Wealth Management $ 881 $ 772 $ 757 $ 715 $ 735 $ 748 $ 687 $ 730 $ 3,125 $ 2,900 CLIENT BUSINESS VOLUMES (in billions of dollars) Private Client - Client Assets Citigroup Asset Management -Assets Under Management The Citigroup Private Bank - Client Business Volumes Travelers Life & Annuity Investment Products Global Consumer Investment Products Less Cross-Sell Volumes Included Above Total Client Business Volumes $ 1,032 387 144 107 487 (294) 1,863 $ 1,032 387 149 109 491 (300) 1,868 $ 1,047 395 154 112 497 (309) 1,896 $ 977 400 153 114 495 (308) 1,831 $ 911 392 146 116 495 (296) 1,764 $ 981 407 150 120 508 (319) 1,847 $ 905 401 149 120 509 (305) 1,779 $ 977 417 158 126 522 (323) 1,877 4% 3% 11% 5% (5%) 3% $ $ $ $ $ $ $ $ Note: Global Wealth Management includes businesses that provide services related to the accumulation and management of wealth. Reclassified to conform to the current period's presentation. Page 34 Slide 36: CITICORP SUPPLEMENTAL DATA (1) (In millions of dollars) 1Q 2000 NET INTEREST REVENUE STATISTICS (taxable equivalent basis) Net Interest Revenue Effect of Securitization Activities Total Adjusted Average Interest Earning Assets (in billions of dollars) Effect of Securitization Activities Total Adjusted Net Interest Margin (%) Effect of Securitization Activities Total Adjusted 2Q 2000 3Q 2000 4Q 2000 1Q 2001 2Q 2001 3Q 2001 4Q 2001 YTD 4Q 2000 YTD 4Q 2001 $ $ $ $ 5,295 1,442 6,737 399.5 58.0 457.5 5.33% 0.59% 5.92% $ $ $ $ 5,414 1,304 6,718 425.5 55.8 481.3 5.12% 0.49% 5.61% $ $ $ $ 5,577 1,299 6,876 449.7 55.4 505.1 4.93% 0.49% 5.42% $ $ $ $ 5,941 1,329 7,270 462.3 61.0 523.3 5.11% 0.42% 5.53% $ $ $ $ 6,240 1,524 7,764 478.7 62.2 540.9 5.29% 0.53% 5.82% $ $ $ $ 6,545 1,509 8,054 477.6 62.3 539.9 5.50% 0.48% 5.98% $ $ $ $ 7,111 1,464 8,575 531.0 63.1 594.1 5.31% 0.42% 5.73% $ $ $ $ 7,990 1,604 9,594 535.7 67.6 603.3 * 5.92% 0.39% 6.31% $ $ $ $ 22,227 5,374 27,601 434.2 57.6 491.8 5.12% 0.49% 5.61% $ $ $ $ 27,886 6,101 33,987 505.8 63.8 569.6 * 5.51% 0.46% 5.97% (1) Excludes manufactured housing and Arcadia's previously securitized receivables. * Preliminary END OF FILE Page 35