EX-3.1 2 citi-exh31x9302024.htm EX-3.1 組成該系列的股份數量和該系列的獨特名稱;



除法律規定的表決權外,該系列賽是否還應擁有表決權,如果有,這種表決權的條款;
該系列的股份是否可贖回,如可贖回,則贖回的條款及條件,包括如要贖回的股份少於全部股份,則選擇贖回股份的方式、可贖回股份的日期或之後,以及贖回時每股須支付的款額,而該等款額可因不同情況及在不同的贖回日期而有所不同;
該系列是否應有用於贖回或購買該系列股份的償債基金,如有,則該償債基金的條款和數額;

在公司或任何附屬公司發行任何額外股票(包括該系列或任何其他系列的額外股份)時,以及在公司或任何附屬公司購買、贖回或以其他方式取得公司任何已發行股票的股息或作出其他分派時,公司或任何附屬公司產生債務的條件和限制的利益的權利;

(Viii)在公司自動或非自願清盤、解散或清盤時,該系列股份的權利,以及優先支付該系列股份的相對權利(如有的話);及

該系列的任何其他親屬、參與、任選或其他特殊權利、資格、限制或限制。

優先股已發行股票的股息應在支付或宣佈任何股息並預留用於支付普通股流通股之前支付或宣佈並留作支付。    任何優先股系列的股份,如已贖回(不論是透過運作償債基金或以其他方式贖回),或如可轉換或可交換,則已轉換或交換為任何其他一個或多個類別的股票,應具有同一系列優先股的認可股份及未發行股份的地位,並可作為其原來所屬系列的一部分重新發行,或可重新分類及重新發行,作為將藉一項或多項董事會決議而設立的新的優先股系列的一部分,或作為任何其他優先股系列的一部分,均須受董事會就發行任何系列優先股作出的一項或多項決議所載的條件及發行限制所規限。

美國、德國、法國、印度和印度。

除適用法律另有規定或發行任何系列優先股的一項或多項決議另有規定外,普通股流通股持有人在董事選舉和所有其他目的方面應獨有投票權;每名普通股記錄持有人有權就公司賬簿上以其名義登記的每一股普通股享有一票投票權;但除法律另有要求外,普通股持有人無權就本公司註冊證書(包括本條第(B)節或第(J)節第四節所考慮或授權的與優先股股份有關的任何證書)的任何修訂進行表決,而該修訂僅與一個或多個已發行優先股系列的條款有關,但受影響系列的持有人有權單獨或作為一個類別與一個或多個其他此類系列的持有人一起享有投票權,根據本重訂公司註冊證書(包括本細則第(4)B節或第(J)節所考慮或授權的與優先股股份有關的任何證書)投票。    *F.

除有關發行任何系列優先股的一項或多項決議案另有規定外,在向優先股持有人支付根據有關發行任何系列優先股的一項或多項決議案應享有的全部股息後,普通股持有人有權收取董事會可能不時宣佈的股息,任何及所有系列的優先股持有人除外。

*G.

除規定發行任何系列優先股的一項或多項決議另有規定外,如公司在向優先股持有人支付依據有關發行任何系列優先股的一項或多項決議應有權獲得的全額款項後發生任何清算、解散或清盤,不論是自願或非自願的,    

*H。    根據本章程授權的任何普通股或優先股的發行以及根據本章程第四條允許董事會採取的任何其他行動,必須經全體董事會至少66%和三分之二(662/3%)的讚成票或由全體董事會至少66%和三分之二(662/3%)的讚成票組成的董事會委員會批准。

(i)    儘管本公司註冊證書有任何其他規定,有權就本公司註冊證書投票的已發行股份的至少過半數投票權的持有人須投讚成票,以修訂、更改、更改或廢除或採納任何與本條第二節至第一節目的及意圖不符的條款作為本公司註冊證書的一部分。

(ii)    *J.

(iii)    根據本條第四款所賦予的授權,現規定下列優先股系列,每個此類系列應包括的股份數量,以及其名稱、權力、優先權和權利,以及其資格、限制或限制,如下文所述並以引用方式併入本文件所附的相應圖示中,就每個此類系列確定和明示:

(iv)    附件I




(v)    8.125%非累積優先股,AAA系列

(vi)    附件二

(vii)    8.40%固定利率/浮動利率非累積優先股,E系列

附件三

(ix)    8.50%非累積優先股,系列F

    C.    附件四

    D.    系列R參與累計優先股

附件五    6.5%非累積可轉換優先股,系列T

第五:    董事無須以書面投票方式選出,除非及在附例規定的範圍內。

第六條:    公司的賬簿和記錄可保存在特拉華州以外的地方(符合任何強制性法律要求),保存地點由董事會或章程授權或依據董事會不時決定。



第七名:

公司的業務和事務應由董事會管理或在董事會的領導下管理,董事會的確切人數將不時以全體董事會多數通過的決議確定。在每次年會上,選舉產生的每一位董事的任期為一年。董事的任期至其任期屆滿當年舉行的年會為止,直至其繼任者當選為止,但須符合資格,但須事先去世、辭職、退休、取消資格或免職。董事會因增加董事人數而出現的任何空缺,只要出席人數達到法定人數,均可由在任董事的過半數填補,而董事會出現的任何其他空缺,可由在任董事的過半數(即使不足法定人數)或唯一剩餘的董事填補。任何被選舉填補非因董事人數增加而出現的空缺的董事,其剩餘任期應與其前任相同。儘管有上述規定,每當公司發行的任何一個或多個類別或系列優先股的持有人有權在股東周年大會或特別大會上按類別或系列分開投票選舉董事時,該等董事職位的選舉、任期、空缺填補及其他特點應受適用於該等董事職位的本重新註冊證書的條款所規限。    第八名:

    I.    A.除法律或本公司註冊證書或公司細則所要求的任何讚成票外,除非本條第八條第(B)節另有明確規定,否則企業合併(如下文定義)應要求有表決權股票(如下文定義)持有人投讚成票和反對票的比例不少於多數,並作為一個類別一起投票。即使法律或與任何國家證券交易所的任何協定或其他規定可能不需要投票,或可能規定較低的百分比或單獨的類別投票,也應要求投讚成票。

B.第八條第(A)節的規定不適用於任何特定的企業合併,如果滿足下列第1款或第2款規定的所有條件,則該企業合併只需法律或本公司註冊證書或公司章程任何其他規定或其他規定所要求的讚成票;    然而,前提是

如果企業合併不涉及向公司未清償債務的持有人支付對價股本(定義見下文),則除非滿足下列第一款規定的條件,否則必須符合本條第八款第(A)款的規定:
業務合併須已獲大多數留任董事(定義見下文)批准(而該項批准其後並未被撤銷),或作為與有利害關係的股東進行的已批准交易類別內的交易。此類批准可在收購、公告或公開披露意向、使有利害關係的股東成為有利害關係的股東的投票權股票的實益所有權之前或之後給予。然而,前提是
就本第1段而言,該項批准只有在出席董事留任法定人數(定義見下文)的會議上獲得方為有效;並且進一步規定,該項批准可在任何在完成建議業務合併前舉行的出席董事留任法定人數的會議上由過半數留任董事撤銷。如果適用,應滿足以下所有條件:
截至企業合併完成之日(“完成日期”),該企業合併中任何類別或系列流通股的持有者每股將收到的現金以外的代價的現金總額和公平市值(定義見下文)應至少等於根據下述第2(A)或2(B)段確定的金額:如該類別或系列股本於建議企業合併首次公開公告當日(“公告日”)的每股公平市值低於該類別或系列股本於有利害關係的股東成為有利害關係的股東當日的每股公平市值(“決定日”),相當於(I)該類別或系列股本於公告日的每股公平市值加上(Ii)該類別或系列股本於公告日的每股公平市值乘以該類別或系列股本於任何一天所支付的每股收市價的最高百分比溢價(“溢價股本”)的總和,該等股份或系列股本的收市價是由有利害關係的股東或其代表就該類別或系列股本的任何股份而支付的,而該等股份是與該股東取得實益擁有權有關的。在緊接公告日期前的兩年內或在其成為有利害關係的股東的交易中,持有該類別或系列股本的股份;
然而,前提是如上文所釐定的溢價股本價格高於該股東或其代表就該股東於緊接公告日期前兩年內收購該類別或系列股本股份的實益擁有權而支付的最高每股價格,則本第2(A)段所規定的金額須為(A)項下該股東或其代表所支付的最高價格,及(B)公佈日期該類別或系列股本的每股公平市價(本段(A)項所指的該類別或系列股本的每股公平市值及其他價格,須就其後有關該類別或系列股本的任何股份拆分、股息、細分或重新分類作出適當調整);或

如該類別或系列股本於公佈日期的每股公平市價大於或等於該類別或系列股本於決定日期的每股公平市值,則每股價格相等於該類別或系列股本於公告日期的每股公平市值,而該等類別或系列股本於決定日期的每股公平市值須就其後有關該類別或系列股本的任何股份分拆、股息、拆分或重新分類作出適當調整。    作為企業合併標的的每一類別或系列已發行股本均須符合本款第2款的規定,不論有利害關係的股東以前是否已取得特定類別或系列股本的任何股份的實益所有權。

在該企業合併的確定日期之後至完成日期之前:    

因此,按照任何已發行股本的條款應支付的任何全額季度股息(無論是否累計);(Ii)如有必要,普通股支付的股息年率將有所提高,以反映任何重新分類(包括任何反向股票拆分)、資本重組、重組或任何類似交易,其效果是減少普通股的流通股數量,除非未能如此提高年率的做法在繼續出席董事會議的董事會議上得到多數董事的批准;及(Iii)該擁有權益的股東不應成為任何額外股本的實益擁有人,除非作為導致該等擁有權益的股東成為擁有權益的股東的交易的一部分,以及除非該交易於生效後不會導致該擁有權益的股東於任何類別或系列股本的實益擁有權百分率有任何增加。    於決定日期後,該有權益的股東不得直接或間接(除非按比例作為本公司的股東)獲得本公司提供的任何貸款、墊款、擔保、質押或其他財務援助或任何稅務抵免或其他稅務優惠,不論是預期或與該業務合併有關或其他方面。

描述建議的業務合併並符合1934年證券交易法及其下的規則和法規(或取代該法案、規則或法規的任何後續條款)的要求的委託書或資訊聲明,應在該企業合併完成前至少30天郵寄給本公司的所有股東(無論該委託書或資訊聲明是否需要根據該法案或後續條款郵寄)。公司應向此類投資銀行支付合理的服務費。 該有利害關係的股東在未獲至少過半數留任董事批准的情況下,不得對本公司的業務或股權資本結構作出重大改變。

C.下列定義應適用於本條第八條:這一術語“企業合併”



意味著:

1.    本公司或任何主要附屬公司(定義見下文)與本公司或任何主要附屬公司的任何合併或合併,或出售、租賃、交換、轉讓或以其他方式處置本公司或任何主要附屬公司的幾乎所有資產或已發行股本,以及(I)任何有利害關係的股東或(Ii)任何其他公司(不論其本身是否有利害關係的股東)合併、合併或出售、租賃、交換、轉讓或其他處置將會是有利害關係的股東的聯屬公司或聯營公司的任何合併或合併;或任何出售、租賃、交換、按揭、質押、轉讓或其他處置或證券安排、投資、貸款、墊款、擔保、購買協定、付款協定、信用擴展、合資企業參與或其他安排(在一次或一系列交易中),涉及本公司、任何主要附屬公司或任何有利害關係的股東的任何資產、證券或承諾,以及/或涉及總公平市價為2500萬美元(25,000,000美元)或以上的任何資產、證券或承諾;或任何證券的重新分類(包括任何反向股票拆分),或公司資本重組,或公司與其任何附屬公司(如下文定義)的任何合併或合併,或任何其他交易(無論是否與有利害關係的股東一起或以其他方式涉及),直接或間接地增加任何類別或系列股本的比例份額,或任何可轉換為股本或可轉換為股本證券的證券

2.    由任何有利害關係的股東或任何有利害關係的股東的任何關聯公司或聯營公司實益擁有的任何附屬公司;或

就前述(A)至(D)款所列任何一項或多項行動作出規定的任何協定、合同或其他安排;

(a)    然而,前提是如上述交易的公告日期於有關權益持有人的決定日期後18個月以上發生,則在本細則第八條的規限下,上述任何交易均不應被視為企業合併。這一術語

(b)    “資本股”

指根據本公司註冊證書第四條不時獲授權發行的本公司所有股本,包括但不限於普通股,而“有表決權股份”一詞指根據其條款可就提交予本公司股東的所有事項表決的所有股本。

(c)    這一術語

“人”



指任何個人、商號、公司或其他實體,並應包括由任何人士及任何其他人士組成的任何集團,而該人士或該人士的任何聯營公司或聯營公司直接或間接與該人士就收購、持有、投票或處置股本的目的有任何協定、安排或諒解。

(d)    這一術語

(e)    “有利害關係的股東”

(f)    指(除本公司或任何附屬公司及本公司的任何利潤分享、員工持股或其他員工福利計劃外,或以該等身分行事時任何此等計劃的任何受託人或受託人):(A)是或已宣佈或公開披露一項計劃或意向成為投票股的實益擁有人,相當於當時所有已發行的投票股持有人有權投下的投票權的百分之二十五(25%)或以上;或(B)為本公司的聯屬公司或聯營公司,且於緊接有關日期前兩年內的任何時間為Vting Stock的實益擁有人,佔當時Vting Stock所有已發行股份持有人有權投下的投票權的百分之二十五(25%)或以上。

任何人都應該是

1.    “實益擁有人”(A)該人士或其任何聯屬公司或聯營公司直接或間接實益擁有的任何股本;(B)該人士或其任何聯營公司或聯營公司直接或間接擁有(I)根據任何協定、安排或諒解,或在行使轉換權、交換權、認股權證或期權或其他方式時,獲得(不論該權利可即時行使或只受時間推移規限)的權利,或(Ii)根據任何協定、安排或諒解獲得投票權的權利;或(C)由任何其他人士直接或間接實益擁有的股份,而該人士或其任何聯屬公司或聯營公司與該等人士就收購、持有、投票或處置股本任何股份的目的有任何協定、安排或諒解。就根據本節C節第4段確定某人是否為有利害關係的股東而言,被視為流通股的股本數量應包括該人通過應用本C節第5段而被視為實益擁有的股份,但不包括根據任何協定、安排或諒解,或在行使轉換權、認股權證或期權或其他情況下可能預留用於發行或可發行的任何其他股本股份。這些條款

(a)    “聯營公司”

(b)    

(c)    “助理”



應具有該法第120億2條中賦予該等術語的各自含義,該等術語在本第8條獲得獨資公司批准和通過之日有效(在上述第120億2條中,術語“註冊人”在本案中指的是公司);

(d)    然而,前提是

“聯營公司”和“聯營公司”一詞不應包括公司或任何受託人或受託人在以此類身分行事時的任何利潤分享、員工持股或其他員工福利計劃。這一術語

2.    “子公司”指任何類別的股權擔保的多數由公司實益擁有的公司;然而,前提是

3.    就本節C節第4段所載利益股東的定義而言,“附屬公司”一詞僅指本公司實益擁有每類股權證券的多數股權的公司。這一術語“主要附屬公司”

4.    指資產為2500萬美元(25,000,000美元)或以上的子公司,反映在根據適用的州保險法編制的最近財政年度末經審計的或未經審計的綜合資產負債表中從事保險業務的子公司,並按照關於從事保險業務以外的業務的公認會計原則。這一術語

5.    繼續“董事”指公司的任何董事會成員,而此人是董事會成員,且不是有利害關係的股東的聯營公司、聯營公司或代表,並且在有利害關係的股東成為有利害關係的股東之前是董事會成員,以及任何繼續留任的董事的繼任者,而該繼任者是董事會成員,不是有利害關係的股東的關聯公司、聯營公司或代表,且經多數留任董事推薦或選舉接替繼續經營的董事;

6.    然而,前提是“繼續董事”一詞不應包括公司或其任何關聯公司或聯營公司的任何高級人員。這一術語“公平市價”指(A)如屬現金,則指該等現金的數額;(B)如屬證券,指緊接有關日期前30天內該等證券的股份在紐約證券交易所上市股票的綜合錄影帶上的最高收市價,如該等證券並無在綜合錄影帶上報價,則在紐約證券交易所上市,或如該證券並非在該交易所上市,則在根據該法令註冊的美國主要證券交易所上市,或如該證券並無在任何該等交易所上市,則指該等證券的最高收市價,在有關日期前30天內,在全國證券交易商協會自動報價系統或當時使用的任何類似系統上關於該股票的最高收盤報價,或如果沒有此類報價,則為由大多數繼續留任的董事真誠確定的該股票在有關日期的公平市場價值;及(C)如屬現金或股票以外的財產,則為大多數留任董事真誠釐定的該等財產於有關日期的公平市值。這一術語“延續董事會議法定人數”

7.    指至少兩(2)名能夠行使公司註冊證書和公司章程賦予他們的權力的留任董事。在公司存續的任何企業合併的情況下,“收取現金以外的代價”本條第二節第二款所用第八項應包括普通股和/或由該等股份持有人保留的任何其他類別或系列股本的股份。在出席董事會議並有繼續留任的法定人數的董事中,多數留任董事有權和有責任根據經合理查詢後所知的資料,決定本條第八條的目的,並決定根據本條第八條產生的所有問題,包括但不限於:(A)某人是否為有利害關係的股東,(B)任何人實益擁有的股本或其他證券的股份數目,(C)某人是否為另一人的聯營公司或聯營公司,(D)作為任何企業合併標的的資產是否有,或本公司或任何業務合併中的任何附屬公司為發行或轉讓證券而收取的代價,其公平市值合計為2500萬港元(25,000,000美元)或以上,如本條第八節第(B)及(E)段所述,以及(E)附屬公司是否為主要附屬公司。本著善意作出的任何此類決定對各方都具有約束力和終結性。如果在該會議上未能達到董事的持續法定人數,則所有此類決定應由特拉華州衡平法院作出。

8.    美國、德國、法國、印度和印度。第八條的任何規定不得被解釋為免除任何利益相關股東法律規定的任何受託責任。*F.



任何企業合併符合本條第(8)款第(B)款的規定,不得被解釋為向董事會或其任何成員施加任何受託責任、義務或責任,以批准該企業合併或向本公司股東建議採用或批准該企業合併,也不得以任何方式限制、禁止或以其他方式限制董事會或其任何成員對該企業合併的評估或就該企業合併採取的行動和回應。

9.    *G.儘管本公司證書或公司章程有任何其他規定(儘管法律、本公司證書或公司章程可能規定較小百分比或單獨的類別投票),有權就其投票的流通股的投票權不少於多數的持有人作為一個類別一起投票的讚成票應為需要修改、更改、更改或廢除或採用任何與本條款第八條的目的和意圖不符的條款作為本公司註冊證書的一部分。第九條:為促進但不限於特拉華州法律賦予董事會的權力,董事會有權通過、修訂、更改或廢除公司的章程。至少66%和三分之二的讚成票應要求全體董事會成員通過、修訂、更改或廢除公司的章程。儘管本公司註冊證書或公司章程有任何其他規定(且儘管法律、本公司註冊證書或公司章程可能規定較低百分比或不同類別的投票權),有權就此投票的已發行股份的投票權不少於過半數的持有人須投讚成票,方可採納、修訂、更改或廢除任何與本條第九條目的及意圖不符的條款,作為本公司註冊證書的一部分。

10.    第十名:對於違反公司或其股東作為董事的受信責任的金錢損害,公司的任何董事均不承擔責任,但以下責任除外:(I)任何違反董事對公司或其股東的忠誠義務的行為;(Ii)不真誠的行為或不作為,或涉及故意不當行為或明知違法的行為;(Iii)根據特拉華州公司法第174條規定的責任;或(Iv)董事從中獲得不正當個人利益的任何交易。第十一名:

11.    除本公司註冊證書第四條、第七條、第八條和第九條另有規定外,公司保留以特拉華州法律規定的方式修改和廢除本公司註冊證書中包含的任何條款的權利,股東的所有權利應受此保留的約束。董事會根據特拉華州《公司法總則》第245節正式通過了這份重新簽署的公司註冊證書。本重新簽發的公司註冊證書自備案之日起生效。

12.    在證人證詞中,本公司已安排由其正式授權的人員簽署這份重新簽署的公司註冊證書。

    D.    2009年10月的一天。

花旗集團    /S/邁克爾·S·赫爾費爾

姓名:    邁克爾·S·赫爾弗

公司秘書    附件I



8.125%非累積優先股,AAA系列

第1款.    指定。(66 2/3%) 優先股系列的名稱應為“8.125%非累積優先股,AA系列”(以下簡稱“AAA系列”)。

    “)。AA系列優先股的每股在各方面應與AA系列優先股的其他每一股相同。在本公司發生任何自願或非自願清盤、解散或清盤的情況下,AA系列優先股將與平價股並列,優先於初級股,並在支付股息及/或資產分配方面低於高級股(如有)。

第2款.    股份數量。

AA系列優先股的授權股數為149,500股。本公司有權發行AA系列優先股的零碎股份。

第3款.

定義。如本文針對系列AA優先股所使用的:代理會員“具有第15(C)節規定的含義。

董事會
“具有上述演奏會中所闡述的含義。
營運日“指不是紐約國定假日,也不是法律或法規授權或要求紐約的銀行機構關閉的任何工作日。
普通股









“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。

保存人

“指DTC或其代名人或本公司委任的任何繼任託管人。    紅利發放日

“應具有本合同第(4)(A)節規定的含義。紅利期“應具有本合同第(4)(A)節規定的含義。

股息記錄日期    “應具有本合同第(4)(A)節規定的含義。

直接轉矩

」是指存管信託公司。    全球系列賽-AA優先股“具有第15(A)節規定的含義。

保持器“指以其名義登記AA系列優先股股份的人,公司、轉讓代理人、登記處及付款代理人可將該人視為AA系列優先股股份的絕對擁有者,以付款及所有其他目的。

初級股“指普通股及本公司現已存在或其後獲授權的任何其他類別或系列股票,在本公司任何自願或非自願清盤、解散或清盤時,優先股優先於或優先於派發股息或分配資產。

不付款“應具有本合同第(7)(B)(I)節規定的含義。

“指本公司的首席執行官、主席、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫和公司財務主管、任何助理司庫、總法律顧問和公司祕書以及任何助理祕書。

平價股票“指在本公司任何清盤、解散或清盤時,在支付股息及分配資產方面與AA系列優先股同等的本公司任何類別或系列股票。

“是指法人,包括任何個人、公司、產業、合夥企業、合營企業、協會、股份公司、有限責任公司或者信託。

優先股董事“應具有本合同第(7)(B)(I)節規定的含義。

書記官長“指以AA系列優先股登記員的身分行事的轉讓代理及其繼承人和受讓人。

高級股票“指在本公司任何自願或非自願清盤、解散或清盤時,在派發股息或分配資產方面較AA系列優先股具有優先權或優先權的本公司現有或以後獲授權的任何類別或系列股票。

系列AAA優先股“應具有本合同第一節規定的含義。

轉移劑“指紐約梅隆銀行擔任AA系列優先股及其繼承人和受讓人的轉讓代理、登記處和支付代理。

信任“應具有第(6)(D)節規定的含義。

第4款.分紅

姓名:標題:




(1)只有當股票證書證明AA系列優先股的持證股份時,才應包括這一短語。(2)只有在股票證明全球系列AA優先股的情況下,才應包括這一短語。

司法常務官會籤這些股票是上述指定證書中所指的AAA系列優先股。

日期:紐約梅隆銀行作為註冊官

作者:姓名:

標題:證書的反轉

AA系列優先股的每股股息應按指定證書中規定的利率支付。AAA系列優先股的股份可由本公司選擇以指定證書所載方式及條款贖回。

本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。作業

對於收到的價值,簽署人將以下證明的AAA系列優先股的股份轉讓和轉讓給:(填寫受讓人社保或納稅人識別碼)

(填寫受讓人地址和郵遞區號)    並不可撤銷地任命:

(a)    作為轉讓代理,在轉讓代理的賬簿上證明轉讓AA系列優先股的股份。代理人可以由他人代為代理。日期:簽名:(與您的名字在本證書的另一面完全相同)簽名保證:(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)附件二8.40%固定利率/浮動利率非累積優先股,E系列第1款.指定。

(b)    該系列優先股的名稱應為“8.40%固定利率/浮動利率非累積優先股,E系列”。E系列優先股的每股在各方面應與E系列優先股的其他每一股相同。E系列優先股將與平價股票並列,優先於初級股票,並在公司發生任何自願或非自願清算、解散或清盤的情況下,在股息支付和/或資產分配方面低於高級股票(如有)。第2款.

(c)    股份數量。E系列優先股的授權股數為24萬股。該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會正式通過的進一步決議案,以及根據特拉華州公司法的規定提交證書,述明有關增加或減少(視乎情況而定)而不時增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的E系列優先股的股份數目)。公司有權發行E系列優先股的零碎股份。




(i)    第3款.

(ii)    定義。

(iii)    如本文針對E系列優先股所使用的:

(iv)    代理會員

(v)    “具有第15(C)節規定的含義。

(vi)    董事會

「具有上述背誦中闡述的含義。

「工作日」

指不是紐約市法定假日的任何工作日,也不是紐約市銀行機構被授權或法律或法規要求關閉的日子。

計算代理     是指以E系列優先股計算代理身份行事的轉讓代理人及其繼任者和轉讓人。

普通股「指公司普通股,每股面值0.01美金,或該普通股股份應重新分類或變更為的任何其他公司股本股份。保存人

(b)    「指DTC或其提名人或公司指定的任何繼任託管人。紅利發放日

(c)    「應具有本文第4(a)條規定的含義。紅利期

(d)    「應具有本文第4(a)條規定的含義。 股息記錄日期



「應具有本文第4(a)條規定的含義。

直接轉矩    」是指存管信託公司。

全球E系列優先股「具有第15(a)條規定的含義。保持器

(b)“指以其名義登記E系列優先股股份的人士,本公司、計算代理人、轉讓代理人、登記處及支付代理人可將該人視為E系列優先股股份的絕對擁有者,以支付款項及所有其他目的。初級股

“指普通股及本公司現有或以後獲授權的任何其他類別或系列股票,而E系列優先股在支付股息或在本公司任何自願或非自願清算、解散或清盤時優先分配資產。

倫敦銀行間同業拆借利率測定。日期

“指緊接有關股息期首日之前的第二個倫敦銀行日。

倫敦銀行日

“指商業銀行在倫敦營業的任何一天(包括美元存款交易)。

不付款

(c)     “應具有本合同第(7)(B)(I)節規定的含義。

(d)     “指本公司的首席執行官、主席、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫和公司財務主管、任何助理司庫、總法律顧問和公司祕書以及任何助理祕書。平價股票



“指在本公司任何清算、解散或清盤時,在派發股息及分配資產方面與E系列優先股同等的本公司現有或其後獲授權的任何類別或系列股票。


“是指法人,包括任何個人、公司、產業、合夥企業、合營企業、協會、股份公司、有限責任公司或者信託。優先股董事“應具有本合同第(7)(B)(I)節規定的含義。

書記官長“指以E系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。

(i)     路透社螢幕LIBOR01頁需要贖回的E系列優先股的股份數量,如果要贖回的股份少於持有人的全部股份,則需要贖回的股份數量;贖回價格;交出該等股份的股票以支付贖回價格的一個或多個地點;及待贖回股份的股息將於贖回日停止應計。.”

(ii)儘管有上述規定,如果E系列優先股通過DTC以簿記形式持有,公司可以DTC允許的任何方式發出該通知。部分救贖。

(iii)    如於已發行時只贖回部分E系列優先股,則將予贖回的E系列優先股股份應按持有人所持E系列優先股股份數目按比例按董事會、優先股委員會或其任何其他正式授權委員會認為公平及公平的方式按比例從持有人中選出。在符合本節第6款的規定下,董事會、優先股委員會或其任何其他正式授權的委員會有完全權力及權力不時訂明贖回E系列優先股股份的條款及條件。贖回的有效性。




(iv)    如贖回通知已妥為發出,且如在通知所指明的贖回日期當日或之前,本公司已將贖回所需的所有資金,除其他資產外,為被贖回股份持有人的按比例利益而分開預留,以便可繼續用作贖回,或由本公司存入董事會選定的銀行或信託公司、優先股委員會或其任何其他正式授權委員會(“信任

(c)     “)為被要求贖回的股份持有人按比例受益,則即使任何被要求贖回的股份的任何股票尚未交回註銷,但在贖回日期當日及之後,所有被要求贖回的股份將停止發行,與該等股份有關的所有股息將於該贖回日期停止應計,而有關該等股份的所有權利將於該贖回日期立即終止及終止,惟其持有人於贖回日期後任何時間從如此存放的資金中收取贖回應付款項的權利除外。本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。於贖回日期起計三年屆滿時,任何如此繳存而無人認領的資金,須在法律許可的範圍內發放或償還予本公司,如已向本公司償還該等款項,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,金額相當於上文所述為贖回該等股份而繳存並已償還予本公司的款項,但在任何情況下均無權獲得任何利息。第7節

投票權

將軍

持有者無權就任何事項投票,除非下文第7(B)節所述或特拉華州法律要求。特別投票權。*投票正確。

如E系列優先股或在股息支付方面與E系列優先股平價的任何其他類別或系列的優先股的股息已獲授予並可行使與本條第7(B)(I)節授予的投票權相同的投票權,則就任何類別或系列而言,尚未支付的總金額至少等於三個半年度或六個季度股息期(無論是否連續)(A)



不付款

(d)     “),組成董事會的董事人數應增加兩人,而持有人(連同任何類別或系列的持有人)持有人不享有任何優先購買權或轉讓權。

第9條。職級。

儘管公司註冊證書或本指定證書有任何相反的規定,董事會、優先股委員會或其任何其他正式授權的委員會可授權和發行額外的初級股票或平價股票,而無需持有人投票。

第10節.回購。

在符合本協定規定的限制的情況下,本公司可按董事會、優先股委員會或其任何其他正式授權委員會決定的範圍、方式和條款不時買賣E系列優先股;

然而,前提是

如有合理理由相信本公司已破產或本公司將因該項收購而資不抵債,則本公司不得將其任何資金用於任何此類收購;然而,如果進一步地,, 倘若本公司實益擁有任何E系列優先股,本公司將促使不行使有關該E系列優先股的投票權。第11節未發行或重新收購的股份, 本公司未發行或已發行及贖回或以其他方式購買或收購的E系列優先股的股份,應恢復為授權但未發行的優先股的狀態,而不指定系列。

第12條。無償債基金。

E系列優先股的股票不受償債基金運作的影響。

第13條轉讓代理人、計算代理人、註冊官及付款代理人

E系列優先股的正式指定轉讓代理、計算代理、註冊人和支付代理應為紐約梅隆銀行。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。

第14節補發證書。

證書被毀損、銷毀、被盜和遺失。

如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。

第15條表格。(a)

第A17條。通告。

本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發送),並預付郵資:(I)如寄往公司,則寄往公司、其位於紐約10043公園大道399號的辦公室(注意:公司祕書)或寄往其位於華盛頓大道29號480的辦公室新澤西州澤西市07310號(請注意:公司信託辦事處)或本指定證書所允許指定的本公司其他代理人,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿(可能包括過戶代理的記錄)所載有關持有人的地址或(Iii)本公司或任何有關持有人(視情況而定)以類似方式發出的通知所指定的其他地址。表現出表格表格



固定利率/浮動利率非累積優先股百分比,E系列

面對安全除非本證書由存託信託公司的授權代表(紐約A New York Corporation(“DTC”),紐約州紐約市)提交給該公司或其代理人,以登記轉讓、兌換或付款,並且所發出的任何證書均以CELDE&CO的名義登記。或DTC授權代表要求的其他名稱(支付任何款項以讓出或轉讓給DTC授權代表要求的其他實體)任何人或向任何人轉讓、質押或以其他方式使用本文件的任何轉讓、質押或其他用途是錯誤的,因為本文件的註冊所有者放棄本文件。與此有利害關係。本全球證券的轉讓應僅限於向DTC的被指定人或其繼任者或該繼任者的被指定人轉讓全部但不是部分的轉讓,而本全球證券的部分轉讓應僅限於根據下文提及的指定證書中規定的限制進行的轉讓。

(c)    證書編號E系列優先股股數CUSIP編號:花旗集團

(d)    固定利率/浮動利率非累積優先股百分比,E系列(每股面值1.00美元)

(清算優先權為每股25,000美元)花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定%固定利率/浮動利率非累積優先股E系列的[]繳足及免稅股份的登記擁有人,每股面值1.00美元,每股清算優先權25,000美元(“E系列優先股”)。E系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。特此陳述的E系列優先股的指定、權利、特權、限制、優先及其他條款及條文,在各方面均受日期為2008年4月25日的指定證書(下稱“指定證書”)的規定所規限。此處使用但未定義的大寫術語應具有指定證書中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。茲參考本文背面所列E系列優先股的精選條款和指定證書,其中精選條款和指定證書對所有目的均具有與此地所述相同的效力。

持有人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。

除非註冊處已適當會籤,否則該等E系列優先股股份將無權根據指定證書享有任何利益,或就任何目的而言均屬有效或有義務持有。本證書由公司代表公司簽署,特此為證[標題]

他說,這是中國的第一個交易日。花旗集團作者:

姓名:




標題:




司法常務官會籤

這些股票是上述指定證書中所指的E系列優先股。
日期:

紐約梅隆銀行作為註冊官

作者: 姓名:標題:”), 證書的反轉E系列優先股的每股股息應按指定證書中規定的利率支付。”) E系列優先股的股份可根據公司的選擇,按照指定證書中規定的方式和條款進行贖回。本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。) 作業

[對於收到的價值,以下簽署人將在此證明的E系列優先股的股份轉讓和轉讓給:(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)

(插入受讓人的地址和郵遞區號),並不可撤銷地指定:

作為轉讓代理人在轉讓代理人的賬簿上證明的E系列優先股股份的轉讓。代理人可以由他人代為代理。




日期:簽名:

(與您的名字在本證書的另一面完全相同)

簽名保證:

(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)
附件三
8.50%非累積優先股,F系列

第1節.指定

優先股系列的名稱應為“8.50%非累積優先股,F系列”(“F系列優先股”)。F系列優先股的每一股應在各方面與F系列優先股的其他每一股相同。F系列優先股將與平價股並列,優先於初級股,並在公司發生任何自願或非自願清算、解散或清盤的情況下,在股息支付和/或資產分配方面低於高級股(如有)。

第2節股份數目

F系列優先股的授權股數為92,000股。該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會正式通過的進一步決議案,以及根據特拉華州公司法的規定提交證書,述明有關增加或減少(視乎情況而定)而不時增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的F系列優先股的股份數目)。本公司有權發行F系列優先股的零碎股份。

第三節定義。如本文針對F系列優先股所使用的:代理會員


“具有第15(C)節規定的含義。
董事會
“具有上述演奏會中所闡述的含義。
營運日


普通股




“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。

保存人

“指DTC或其代名人或本公司委任的任何繼任託管人。

紅利發放日
“應具有本協定第4(A)節規定的含義。
紅利期
“應具有本協定第4(A)節規定的含義。




股息記錄日期

“應具有本協定第4(A)節規定的含義。

直接轉矩

」是指存管信託公司。

全球F系列優先股

“具有第15(A)節規定的含義。


保持器


“指在其名下登記F系列優先股股票的人,公司、轉讓代理、註冊人和支付代理可將其視為F系列優先股股票的絕對擁有者,用於付款和所有其他目的。

初級股


(Iv)根據初級股票或正在轉換或交換的證券的轉換或交換條款,批准購買該股票的零碎權益;


(Vi)禁止本公司任何投資銀行附屬公司在其正常業務過程中,就與做市或其他二級市場活動有關的事宜購買Junior Stock。


然而,上述限制將不適用於本公司支付的任何初級股票股息,如果股息股票與支付股息的股票相同。

除以下規定外,只要F系列優先股的任何股份仍未支付,如果F系列優先股和任何平價股的股份沒有全額宣佈和支付股息,則F系列優先股和任何平價股的所有宣佈的股息將按比例宣佈,以便每股宣佈的股息數額彼此之間的比率將與F系列優先股當時的當前股息期每股應計股息和任何平價股當時的當前股息期每股應計股息的比率相同(如任何此類產生累積股息的平價股,則包括,所有應計和未支付的股息)相互關聯。






第五節清算權

(a)

清算     如果公司發生任何自願或非自願的清算、解散或結束公司事務,持有人應有權在公司資產的任何分配或支付給或撥備給任何初級股票持有人之前,從合法可用的資產中獲得全部清算分配,並受清算時優先於F系列優先股或與F系列優先股平價的任何類別或系列證券的持有人的權利以及公司的存款人和其他債權人的權利的限制,獲得全額清算分配,金額為每股25,000美元,外加自上次股息支付日期起至以下日期的任何應計股息但不包括所宣佈的清盤、解散或清盤的日期。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。

他們選擇了部分付款。

    其中包括剩餘分配。

如果任何平價股的所有持有人和所有持有人有權獲得的各自清算分派總額已支付,則初級股持有人應有權根據其各自的權利和偏好獲得本公司的所有剩餘資產。

它包括資產的合併、合併和出售,而不是清算。    就本第5節而言,出售、轉讓、交換或轉讓(以現金、股票、證券或其他代價換取)公司的全部或幾乎所有財產和資產,不得被視為自願或非自願解散、清算或結束公司的事務,也不得被視為公司的合併、合併或任何其他業務合併交易本公司與任何其他法團或人士合併、合併或合併,或任何其他法團或人士與本公司合併、合併或任何其他業務合併交易,均視為自願或非自願解散、清盤或清盤本公司事務。

第6節贖回。它沒有可選的贖回。

本公司在董事會、優先股委員會或其任何其他正式授權委員會的選擇下,可根據下文第6(B)節規定的通知,在2013年6月15日股息支付日期或之後的任何股息支付日期,以相當於每股25,000美元的贖回價格,從尚未償還時的F系列優先股全部或部分贖回F系列優先股。第15條表格

**全球F系列優先股。F系列優先股可能以一股或多股F系列優先股的永久全球股票的形式發行,發行形式為最終的、完全登記的形式,並以實質上以附件A的形式附上全球圖例。

全球F系列優先股“),在此併入並明確成為本指定證書的一部分。全球F系列優先股可能有法律、證券交易規則、公司必須遵守的協定(如果有的話)或慣例所要求的符號、圖例或背書(前提是任何此類符號、圖例或背書採用公司可接受的形式)。每一股全球F系列優先股所代表的股份總數可通過對書記官長和託管人或其代名人的記錄進行調整而不時增加或減少,如下所述。本條款第15(A)款僅適用於存放在託管人或代表託管人的全球F系列優先股。

他們決定將貨物交付給Depositary。如果發行了全球F系列優先股,公司應簽立,註冊官應根據本節的規定,會籤並初步交付一股或多股全球F系列優先股,該優先股(I)應以CEDE&Co.或其他託管人的名義登記,(Ii)應由

託管人或根據從託管人收到的指示,或根據託管人與書記官長之間的協定由書記官長作為託管人保管的指示。代理會員。

如果發行全球F系列優先股,託管機構的成員或參與者(“代理會員

“)在本指定證書下,並不享有任何由託管或註冊處處長代其作為託管人持有的全球F系列優先股的權利,而該等全球F系列優先股可在任何情況下被本公司、註冊處及本公司的任何代理人或註冊處視為該等全球F系列優先股的絕對擁有者。儘管有上述規定,本公司、本公司註冊處處長或本公司任何代理人或註冊處處長並不妨礙託管人提供的任何書面證明、委託書或其他授權在託管人與其代理成員之間生效,以執行託管人行使任何全球F系列優先股實益權益持有人的權利的慣例。如果全球F系列優先股發行,託管機構可以授予委託書或以其他方式授權任何人採取持有者根據F系列優先股、本指定證書或公司註冊證書有權採取的任何行動。他們需要購買實物證書。

任何Global Series F優先股的實益權益擁有人將無權獲得F系列優先股證書股份的實物交付,除非(X)託管人已通知本公司,其不願意或無法繼續擔任全球F系列優先股的託管人,且本公司未於90天內委任合資格的替代託管人,(Y)該託管機構不再是根據交易所法令登記的“結算機構”,而本公司於90天內未委任合資格的替代託管人,或(Z)本公司決定停止使用簿記轉移的方式。在任何此類情況下,全球F系列優先股應以登記形式整體交換F系列優先股的最終股份,並具有相同的條款和同等的總清算優先權。F系列優先股的這種最終股份應登記在託管人在提交給書記官長的書面文書中指定的一個或多個人的姓名或名稱上。他簽了名。

一個高級管理人員應根據公司章程和適用法律,以手動或傳真簽名的方式為公司簽署任何全球系列F優先股。如果在全球F系列優先股上簽字的官員在轉讓代理會籤全球F系列優先股時不再擔任該職位,則全球F系列優先股仍然有效。在轉讓代理的授權簽字人手動副署全球F系列優先股之前,全球F系列優先股無效。每一份全球F系列優先股的日期應為其會籤日期。

第16條稅項(a)

轉讓稅。(Iii)可以贖回、購買或以其他方式價值收購任何級別低於R系列優先股的股票(無論是在股息方面,還是在清算、解散或清盤時);

提供 公司可隨時贖回、購買或以其他方式獲取任何該等優先股的股份,以換取較R系列優先股級別較低的公司股票(在股息方面及在解散、清盤或清盤時);或

(Iv)可贖回、購買或以其他方式按價值收購任何R系列優先股,或與R系列優先股平價的任何股票(股息或在清盤、解散或清盤時),但按照董事會在考慮各系列及類別各自的年度股息率及其他相對權利及優惠後,以書面或公佈(董事會決定)向所有持有R系列優先股及所有該等其他平價股持有人提出的購買要約,則不在此限。應真誠地確定將導致各個系列或類別之間的公正和公平待遇。(B)*公司不得允許公司的任何附屬公司以有價值的方式購買或以其他方式收購公司的任何股票,除非公司可以根據第4(A)段在當時以這種方式購買或以其他方式收購該等股份。




第五節.重新獲得的股份。公司以任何方式購買或以其他方式收購的任何系列R優先股股票,應在收購後立即註銷。所有該等股份於退役後將成為經批准但未發行的優先股股份,並可於公司註冊證書許可或特拉華州法律允許的情況下,作為董事會將設立的新系列優先股的一部分重新發行。

第六節清算、解散和清盤。在公司進行任何清算、解散或清盤時,不得(A)向持有R系列優先股的初級股票(股息或在清算、解散或清盤時)的持有者進行任何分配,除非在此之前,R系列優先股的持有者已收到每股1.00美元,外加相當於應計和未支付股息及其分配的金額,無論是否申報,直至支付之日;

提供 R系列優先股的持有者有權獲得相當於乘數倍(X)的每股總金額

(Y)將每股分派予普通股持有人的總金額,或(B)向與R系列優先股同等(股息或在清盤、解散或清盤時)的股票持有人分派的總金額,但按比例就R系列優先股及所有該等其他平價股份按比例作出的分派除外,比例為所有該等股份持有人於該等清盤、解散或清盤時有權獲得的總金額。第七節合併、合併等

如本公司須進行任何合併、合併、合併或其他交易,將普通股的股份交換或變更為其他股票或證券、現金或任何其他財產,則在任何該等情況下,R系列優先股的股份應同時以同樣的方式交換或變更為相當於乘數(X)的每股金額《泰晤士報》

股票、證券、現金或任何其他財產的總金額。視屬何情況而定,普通股的每股股份被更改或交換成或換成的普通股。第8節。不可贖回。

R系列優先股不可贖回。第9條。職級。

在清盤、解散和清盤時的股息支付和資產分配方面,R系列優先股的排名應低於所有其他優先股系列,除非該系列的條款另有規定,並且在該等事項上應優先於普通股。當前市場價格

“普通股任何一天的每股普通股平均價值是指在截至相關日期較早的10個連續交易日和離岸日期或其他指定日期的前一天的每個交易日內普通股每股VWAP的平均值,並根據第12節所述的任何事件在該期間發生的情況進行適當調整。保存人

“指DTC或其代名人或本公司委任的任何繼任託管人。紅利發放日

“應具有第(4)(A)節規定的含義。紅利期

“應具有第(4)(A)節規定的含義。股息記錄日期

股息起徵額




“應具有第(12)(A)(四)節中規定的含義。    直接轉矩

(a)    」是指存管信託公司。前日期“在用於任何發行或分配時,是指普通股或其他證券的股票在沒有權利接受發行或分配的情況下進行交易的第一個日期。“具有第13(A)節規定的含義。到期時間“具有第12(A)(V)節規定的含義。優先派發股息。只要任何可轉換優先股的股份仍未支付,除非在股息支付日期已宣佈及支付或宣佈所有可轉換優先股的已發行股票的全部股息,並已為當時結束的股息期間撥出足夠支付該等股息的款項,否則本公司不會,亦不會安排其附屬公司在該股息支付日開始的下一個股息期間內,就任何初級股票作出任何分派或支付任何股息,或就任何初級股票作出任何分派或贖回、購買、收購或作出任何清盤付款,或就該等股息作出任何保證付款,但以下情況除外:與僱員、高級管理人員、董事或顧問簽訂僱傭合同、福利計劃或其他類似安排或為其利益而購買、贖回或以其他方式收購初級股票;

(b)    根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票; 根據初級股票的轉換或交換條款或被轉換或交換的證券購買該股票的零碎權益;

(c)    本公司任何投資銀行子公司在其正常業務過程中因做市或其他二級市場活動而購買初級股票。 然而,上述限制將不適用於本公司支付的任何初級股票股息,如果股息股票與支付股息的股票相同。

(i)    在上述及非其他情況下,董事會、優先股委員會或其任何其他正式授權委員會所釐定以現金、股票或其他方式支付的股息,可不時從任何合法可供支付股息的任何資產中宣佈及支付於任何初級股及平價股,而持有人將無權參與該等股息。

(ii)    記錄日期後的換算。

(iii)    

(iv)    即使該等股份在股息支付日期前已轉換,仍可收取該等股息。然而,該等股份於交回以供轉換時,必須附有相等於該等股份的股息的款項;惟如(I)如本公司已發出贖回可換股優先股的通知,(Ii)如本公司已按其選擇發出可換股優先股的轉換通知,或(Iii)如就全面收購或重大變更作出轉換,則無須支付有關款項,每種情況下均須按照本協定的條款進行。

(v)    第五節清算權。




(vi)    清算

如果公司發生任何自願或非自願的清算、解散或結束公司事務,持有人應有權從合法可用於此目的的資產中,在公司資產的任何分配或支付給或撥備給任何次級股持有人之前,並在符合任何類別或系列證券的持有人在清算時優先於可轉換優先股或與可轉換優先股平價的權利以及公司的存款人和其他債權人的權利的情況下,獲得全額清算分配,金額為每股50,000美元的清算優先股,加上自上次股息支付日起的任何應計股息,至,但不包括所宣佈的清盤、解散或清盤的日期。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有人無權獲得任何其他付款,但本節第5款明確規定的除外。

分期付款。

如果公司的資產不足以全額支付清算優先權以及已宣布但尚未向所有持有人和任何Parity股票的所有持有人支付的任何股息,則向持有人和所有Parity股票的持有人支付的金額應根據他們原本有權獲得的各自清算分配總額按比例計算。

剩餘分配。     如果所有持有人和任何平價股票的所有持有人有權獲得的各自清算分配總額已支付,則初級股票的持有人將有權根據其各自的權利和偏好接收公司的所有剩餘資產。

(a)    如果持有人的權益是代表可轉換優先股的全球證書的實益權益,則為了轉換,持有人必須遵守上文列出的第(Iii)至(V)條,並遵守託管人轉換全球證券實益權益的程式。持有人遵守本條第(Ii)款所述程式的日期為“換算日期。

(b)    “轉換代理應根據上述第(I)款所述持有人遞交的通知的條款,代表持有人將可轉換優先股轉換為普通股。第九節完全收購時的轉換。

(c)    整體收購轉換。在完全收購的情況下,每個持有者應有權轉換其持有的可轉換優先股(A)

(d)    全盤收購轉換“)期間(”

完全收購轉換期    “)自全盤收購生效之日起(”

整體採購生效日期“),並於整體收購生效日期後30日止,並可額外收取以下(B)項(B)項所述以整體股份形式持有的普通股。補足股數。“的數量”全流通股份

“應參照下表確定適用的全面收購生效日期和適用的全面收購股票價格的可轉換優先股:股票價格生效日期



2008年01月17日

(i)    2009年2月15日

(ii)    2010年2月15日

(iii)    2011年2月15日

(iv)    2012年2月15日

(v)    2013年2月15日

2014年2月15日

(c)     2015年2月15日完整收購股票的確切價格和完整收購的生效日期可能不會列於表中,在這種情況下:

(d)     如果整體收購股票價格介於表上的兩個整體收購股票價格金額之間,或整體收購生效日期介於表格上的兩個日期之間,則基於365天的年度,將通過為較高和較低的整體收購股票價格金額設定的整體股票數量與兩個整體收購生效日期之間的直線內插法來確定整體股票的數量;如果全盤收購股票價格超過每股80.00美元(根據第12節進行調整),在轉換可轉換優先股時將不會發行全盤股份;以及如整股收購股份價格低於每股26.35美元(鬚根據第(12)節作出調整),則於轉換可換股優先股時,將不會發行全數股份。上表所列的整體收購股票價格鬚根據第(12)節進行調整,並應自換算率調整的任何日期起調整。經調整的整體收購股票價格將等於緊接該項調整前適用的整體收購股票價格乘以一個分數,分數的分子為緊接導致整體收購股票價格調整的調整前的換算率,其分母為經調整的換算率。表中的每一股完整股份的數量也應以與第(12)節規定的換算率相同的方式進行調整。

最初的整體收購通知。    在本公司預期完成整體收購的日期前二十天或之前(或如較後,在本公司發現整體收購將會發生後立即完成),本公司或其代表應以頭等郵遞方式,以預付郵資的方式,按持有人在本公司的記錄中所顯示的方式,向持有人發出書面通知。該通知應包括:

(a)    預計完成整體收購的日期,以及該等整體收購是否預期為根本性改變;及必須行使完全收購轉換選擇權的日期,即預期完全收購生效日期後30天。

(b)    第二份全面收購公告。

(i)於整體收購生效日期,本公司或其代表須以頭等郵遞方式,以預付郵資的方式,向本公司記錄所載的持有人發出另一份書面通知。該通知應包括:自完全收購生效之日起30日內;完整股份的數量,如果這種完全收購是根本性的變化,則為基價;



持有人必須遵循的說明,以行使與此類完整收購相關的轉換選擇權,包括根據第10節的規定(如果適用)。Make-整體採辦轉換程式。.”

(ii)要行使整體收購轉換期權,持有人必須在不遲於紐約市時間下午5點之前,在上文(D)款所述通知中規定的必須行使整體收購轉換期權的日期或之前,遵守第(8(E)節規定的程式,並表明其正在行使其整體收購轉換期權。未轉換的股票仍然是未轉換的。

(iii)如果持有人沒有選擇根據第(9)款行使整體收購轉換選擇權,則其持有的可換股優先股或後續證券的股份將保持流通狀態(以該持有人根據第(10)節選擇行使其基本變更轉換選擇權(如有)為準)。在整體收購轉換後交付。

(iv)於整體收購轉換時,除持有人於上文第(8)(D)節向本公司或其繼承人發出的書面通知中提供的指示另有規定外,轉換代理須向持有人交付可就整體收購中的整體股份發行的現金、證券或其他財產。部分完全收購轉換。

(c)倘若就可換股優先股股份或持有人所持有的後繼證券的股份進行全盤收購轉換,本公司或其繼承人須於該等全盤收購轉換後簽立,而除非另有書面指示,否則轉換代理應會籤並向該持有人交付證明可換股優先股股份或該等後繼證券的證書,費用由本公司或其繼承人承擔。第十節根本性變化時的轉換。



根本性的變化轉換。

如果與整體收購有關的參考價格低於轉換價格(a“

根本性變化

“),持有人可在基本變動生效日期起至基本變動生效日期後30天止的期間內轉換每股可轉換優先股,經調整的轉換價格等於(1)參考價和(2)18.45美元兩者中較大者,但須受以下(B)及(”“)項所述調整的規限。

底價基價調整。

基礎價格將於可換股優先股的換算率根據第(12)節調整的任何日期調整。調整後的基礎價格應等於緊接該項調整前適用的基礎價格乘以一個分數,其分子為緊接導致基礎價格調整的調整前的換算率,其分母為如此調整後的換算率。

(d)     現金替代品。在發生重大變化的情況下,本公司可選擇以現金(計算至最接近的美分)支付相當於在轉換時可發行的每股普通股的參考價格的現金金額,以代替在發生根本變化時發行普通股。

根本改變轉換程式。

要根據基本變更行使其轉換選擇權,持有人必須在紐約市時間下午5:00之前,在根據上文第9(D)節提交的通知中指定的行使基本變更轉換選擇權的日期或之前,遵守第8(E)節規定的程式,並表明其正在行使其基本更改轉換選擇權。

未轉換的股票仍然是未轉換的。

如持有人於根據第(10)節作出重大變更時並無選擇行使其轉換選擇權,則其持有的可換股優先股或後續證券的股份將繼續流通(以該持有人根據第(9)節選擇行使其整體收購轉換選擇權(如有)為準)。

在根本性變化轉換後交付。




於發生重大變動時進行兌換時,除非持有人在向本公司或其繼承人提供的書面通知中提供的指示另有規定,否則兌換代理應向持有人交付可就重大變動後的經調整兌換價格發行的現金、證券或其他財產。部分根本性變化轉換。倘若可換股優先股股份或持有者所持有之可換股優先股或後繼證券之股份於基本變動時實施換股,本公司或其繼承人將於換股後簽立,而除非另有書面指示,否則換股代理應會籤並向該持有人交付一份證明可換股優先股或持有人所持該等後繼證券股份之證書,費用由本公司承擔。第11節.由公司選擇轉換。公司轉換權。

於2013年2月15日或之後,本公司有權在任何時間或不時安排部分或全部可換股優先股按當時適用的換股比率轉換為普通股,前提是在本公司按本公司發出換股通知日期前一個交易日止的連續30個交易日內的20個交易日內,普通股的收市價超過當時適用的可換股優先股換股價格的130%。

部分轉換。

如本公司根據上文(A)項選擇安排少於全部可換股優先股的股份轉換,則轉換代理應選擇按比例、以抽籤方式或以董事會、優先股委員會或其任何其他正式授權委員會認為公平的其他方式轉換可換股優先股。如果轉換代理根據本公司的選擇選擇持有人的可轉換優先股的一部分進行部分轉換,而該持有人轉換其可轉換優先股的一部分,則轉換後的部分將被視為來自本公司根據本條第11條選擇轉換的部分。

轉換程式。

為行使本節第11款所述的轉換權,公司應向每一持有人提供有關轉換的通知(該通知為“

可由公司選擇轉換的通知

“)轉換日期應為公司選擇的日期(”

在公司日期的選項中折算“),並不得超過本公司選擇提供該等轉換通知之日期後20天。除適用法律或法規要求的任何資訊外,公司可選擇的轉換通知應酌情說明:

在公司日期的選擇權進行折算;

轉換每股可轉換優先股時將發行的普通股數量,如果轉換的股票少於持有者的全部股票,則需要轉換的普通股數量;待轉換的可轉換優先股股份數量。 第12款.反稀釋調整。(a) 調整。

(b)在以下情況下,轉換率將進行調整,不得重複:(i) 發行普通股作為向所有普通股持有人的股息或分配,或普通股的細分或組合,在這種情況下,轉換率將根據以下公式調整:

(c) CR = CR( x(作業系統) / OS



在那裡,

(d)CR=

(e)記錄日期營運結束時有效的轉換率CR

=

(a)轉換率在記錄日期後立即生效作業系統

(b)=此類事件生效前記錄日營運結束時已發行普通股股數

作業系統

=在這種事件發生後立即發行的普通股的數量,並且完全是由於這種事件儘管有上述規定,將不會調整向所有普通股持有人發行普通股作為股息或分配,以代替向該等持有人發放季度或年度現金股息或分配,只要此類股息或分配不超過適用的股息門檻金額。任何該等股息或分派的金額將等於該等股息或分派的已發行股份數目乘以該等股息或分派前五個連續交易日內每個連續五個交易日普通股的平均VWAP。




(Ii)允許向所有普通股持有人發行某些權利或認股權證,使他們有權在自此類權利或認股權證發行之日起60天或更短的時間內,以低於(或每股轉換價格低於)記錄日期的當前市場價格購買普通股(或可轉換為普通股的證券)的股份,在這種情況下,每個轉換率將根據以下公式進行調整:

CR
=CR
X(作業系統


+Y)




在那裡,Cr
=

記錄日期營業結束時的有效換算率

Cr
=
緊隨記錄日期之後生效的換算率

作業系統

=

在記錄日期收盤時已發行的普通股數量

=

根據該等權利(或該等證券轉換)可發行的普通股股份總數=行使該等權利的應付總價(或轉換後支付的該等證券的轉換價格)除以在緊接該等權利公佈前的前一個營業日的連續十個交易日內普通股的平均VWAP。

然而,換算率將進行重新調整,以使任何此類權利或認股權證在到期前不被行使。
(Iii)向所有持有公司普通股(普通股除外)的普通股持有人支付股息或其他分配,或其負債或資產的證據(不包括上文第(I)或(Ii)或(Iv)或(V)項所述的任何股息、分配或發行),在此情況下,換算率將根據以下公式調整:
CR
=




Cr

服務提供商

(SP

-FMV)
在那裡,
Cr
=




記錄日期營業結束時的有效換算率

Cr

=

緊隨記錄日期之後生效的換算率

服務提供商

=

________________________________________________________________

________________________________________________________________

截至記錄日期的當前市場價格

________________________________________________________________

________________________________________________________________

FMV

________________________________________________________________

________________________________________________________________

=

公司股本股份在記錄日的公平市場價值(由董事會確定)、債務或如此分配的資產的證據,以每股普通股金額表示
然而,如果根據本條款(iii)引起調整的交易是普通股股息或其他分配的支付由我們的子公司或其他業務部門的公司股本股份或類似股權組成的交易,(即,衍生產品)正在或發行後將在美國證券交易所交易或在納斯達克資本市場上市,則轉換率將根據以下公式調整:
________________________________________________________________

CR
=

CR





(FMV

+

MP

)/MP

在那裡,

CR

=記錄日期營運結束時有效的轉換率

CR=

轉換率在記錄日期後立即生效FMV

=適用於一股普通股持有人的公司股本或類似權益在紐約證券交易所或當時普通股上市或報價的其他國家或地區交易所或市場就該股息或分派在紐約證券交易所或其他國家或地區交易所或市場開始“除分配交易”後的第三個交易日開始的連續10個交易日內,適用於一股普通股的平均VWAP

下議院議員=

普通股在紐約證券交易所或其他全國性或地區性交易所或市場上市或報價的股息或分派開始後的第三個交易日(包括之後的第三個交易日)連續10個交易日內普通股的平均VWAP本公司向所有普通股持有人作出完全由現金組成的分配,不包括(A)普通股的任何現金股息,但普通股每股現金股息的總額不得超過(I)如屬季度股息,則每股現金股息總額不超過(I)在任何財政季度內,如屬季度股息,或(Ii)如屬年度股息,則不超過前12個月的1.28美元(每個該等數位,即

股息起徵額“),(B)作為上文第(Iii)款所述分配的一部分而分配的任何現金,以及(C)以下第(V)款所述公司或其任何子公司提出的投標或交換要約相關的任何應付代價,在這種情況下,轉換率將根據以下公式進行調整:

CR=CR

X個SP/(SP

在那裡,Cr

=記錄日期營業結束時的有效換算率

Cr=

緊隨記錄日期之後生效的換算率服務提供商

=截至記錄日期的當前市場價格

=在定期派發季度或年度股息時,公司分配給股東的每股現金金額減去股息門檻金額




只要根據第(Iv)條對換算率作出的任何調整不會對股息起徵額進行調整,則只要換算率被調整,股息起徵額將以成反比的方式進行調整。本公司或其一個或多個附屬公司根據本公司或本公司的附屬公司就普通股發出的收購要約或交換要約購買普通股,條件是有效投標或交換的普通股每股付款中包含的任何其他對價的現金和價值在根據該等投標或交換要約進行投標或交換的最後日期(“到期日”)的下一個交易日超過普通股每股VWAP,在這種情況下,換算率將根據以下公式進行調整:

CR=CR

X[(FMV+(SPX作業系統

)]/(SPX作業系統

在那裡,Cr

=到期日營業結束時的有效換算率

Cr=

在到期日之後立即生效的換算率FMV

=

(a)在到期日,所有現金和任何其他已支付或應付的代價的總價值在到期日的公平市場價值(由董事會確定),這些現金和任何其他已支付或應付的代價,是指在到期日有效投標或交換但尚未撤回的股票(“購得股票作業系統, =截至上次根據該等投標或交換要約進行投標或交換時的已發行普通股數量(“到期時間“)減去任何已購買的股份作業系統=到期時已發行的普通股數量,包括任何購買的股票

(b)服務提供商= 普通股的VWAP在緊接到期日後的交易日開始的連續十個交易日中的每一天的平均值。

(c)調整的計算。換股比率的所有調整應由本公司計算至最接近一股普通股的萬分之一(或如沒有最接近萬分之一的普通股,則計算至下一較低的萬分之一)。不需要對轉換率進行調整,除非這種調整至少需要增加或減少百分之一;




然而,前提是

無需作出的任何該等輕微調整將結轉並在任何後續調整中予以考慮,並進一步規定任何少於百分之一的有關調整將於(X)本公司每個財政年度結束時、(Y)根據本公司條文發出的任何可換股優先股贖回通知日期或任何整體收購通知日期及(Z)任何轉換日期作出。

當不需要調整時。

交換財產

在該重組事件中,普通股持有人每股普通股的應收款(不含任何利息,也沒有任何權利獲得記錄日期早於適用轉換日期的股息或分派),而該普通股持有人並非與本公司合併或合併成本公司的人,或向其作出上述出售或轉讓的人(視情況而定)

構成人

“),或構成人的關聯公司,只要該重組事件規定了對公司關聯公司和非關聯公司持有的普通股的不同處理;

提供

如果在該重組事件中應收證券、現金和其他財產的種類或金額不同於緊接該重組事件發生前由一名成員或其關聯人以外的人士持有的每股普通股,則就第(13)(A)節而言,在該重組事件中應收證券、現金和其他財產的種類和金額將被視為作出肯定選擇的普通股持有人(或所有該等持有人(如無人作出選擇))所收取代價類型和金額的加權平均。在重組事件發生後的每個轉換日,當時有效的轉換率將適用於根據第13節確定的普通股每股收到的該等證券、現金或其他財產在該轉換日的價值。

交換財產選舉。

如果普通股持有人有機會選擇在該交易中收取的對價形式,則持有人有權獲得的對價應被視為是肯定作出選擇的普通股持有人(或如果沒有選擇,則為所有該等持有人)收到的對價類型和金額。根據本條款轉換任何可轉換優先股時的應收交換財產金額,應根據該轉換日期的有效轉換率確定。接連發生的重組事件。第13節的上述規定同樣適用於連續的重組事件,第12節的規定適用於普通股持有人在任何此類重組事件中收到的任何公司(或任何繼承人)股本。

(b)重組事件通知。本公司(或任何繼承人)應在任何重組事件發生後20天內,就該事件的發生以及構成交易所財產的現金、證券或其他財產的種類和數額向持有人發出書面通知。未能遞送該通知不應影響本節第13條的實施。

(c)第14節投票權。將軍

(d)持有者無權就任何事項投票,除非下文第14(B)節所述或特拉華州法律要求。特別投票權。



投票權。

如果和每當可轉換優先股或任何其他類別或系列的優先股在股息支付方面與可轉換優先股平價,且其投票權相當於根據本條第14(B)(I)條授予的投票權並可行使時,尚未就任何類別或系列支付至少六個季度股息期(無論是否連續)(A)的股息總額

(a)不付款“),組成董事會的董事人數應增加兩人,而持有人(連同任何類別或系列的公司認可優先股持有人,具有同等投票權)有權在不包括普通股持有人的情況下,以單一類別分別投票(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺),但任何該等其他類別或系列的持有人及持有人無權選舉該等董事,但如該選舉會導致本公司違反紐約證券交易所(或本公司證券可能在其上市的其他交易所)的公司管治規定,即上市公司必須有過半數獨立董事,且董事會在任何時候不得包括超過兩名該等董事,則該等董事無權選舉該等董事。由持有人選出的每一董事以及在支付股息方面與可轉換優先股平價並具有同等投票權的任何其他類別或系列的優先股均為“

(b)在上市


然而,前提是


根據當時交易所或自動報價系統的要求,該等普通股可在可轉換優先股轉換時發行。

第21條。轉讓代理、轉換代理、註冊商和支付代理。

正式指定的可轉換優先股的轉讓代理、轉換代理、註冊處和支付代理應為紐約梅隆銀行。本公司可根據本公司與轉讓代理人之間的協定,自行決定解除轉讓代理人的職務;但本公司須委任一名繼任轉讓代理人,該代理人須在該項撤職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。

(c)第222條。更換證書。證書被毀損、銷毀、被盜和遺失。

(d)    如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。 轉換後的證書。如果發行了實物證書,公司將不需要在適用的轉換日期或之後發行代表可轉換優先股的任何證書。在適用的轉換日期後,轉讓代理應根據證書以前證明的可轉換優先股的條款交付普通股,以取代在適用的轉換日期後交付替換證書,在交付上文(A)款所述的證據和賠償時交付普通股股票。



第223條。表格。

全球優先股。

(a)可轉換優先股可以以一股或多股全球永久可轉換優先股的形式以最終的、完全登記的形式發行,並以實質上以附件A(每股,a)的形式附上全球圖例。全球優先股

(b)“),在此併入並明確成為本指定證書的一部分。全球優先股可能會有法律、證券交易所規則、本公司須遵守的協定(如有)或慣例所規定的批註、圖例或批註(只要任何該等批註、圖例或批註採用本公司可接受的形式)。每一股全球優先股所代表的股份總數可不時通過對登記處和託管人或其代名人的記錄進行調整而增加或減少,如下所述。本節第23(A)款僅適用於存放在託管機構或代表託管機構的全球優先股。

(i)交付給寄存人。如發行全球優先股,本公司應簽立,註冊處處長應根據本節初步會籤並交付一股或多股全球優先股,該等全球優先股應(I)以受託管理人或其他託管人的名義登記,及(Ii)由註冊處處長交付給託管人,或根據從託管人處收到的指示或根據託管人與註冊處處長之間的協定由註冊處處長作為託管人持有。 茲參考本文背面所列的可轉換優先股的選擇條款和指定證書,其中選擇的條款和指定證書在所有目的中應具有與此地所述相同的效力。持有人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。除非註冊處已妥為加簽,否則該等可轉換優先股股份將無權根據指定證書享有任何利益,或就任何目的而言均屬有效或有義務持有。本證書由公司代表公司簽署,特此為證.”

(ii)[標題]這將是中國的第一天、第二天、第三天、第二天、第三天、第二天、第二天、第三天、第二天、第二天、第三天、第三天、第二天、第三天、第三天、第二天、第三天的第二天。

(iii)花旗集團作者:

(iv)姓名:標題:



(1)只有當股票證書證明可轉換優先股的持證股份時,才應包括這一短語。

(c)    (2)只有在股票證明全球優先股的情況下,才應包括這一短語。司法常務官會籤

這些股票是上述指定證書中所指的可轉換優先股。

日期:

紐約梅隆銀行作為註冊官作者:, 姓名:

標題:

(d)    證書的反轉每股可轉換優先股的股息應按指定證書中規定的利率支付。




可轉換優先股的股份應可按照指定證書中規定的方式和條款進行轉換。

可轉換優先股的股份可由本公司選擇以指定證書所載方式及條款贖回。

本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。

作業

對於收到的價值,簽署人將在此證明的可轉換優先股的股份轉讓和轉讓給:

(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(插入受讓人的地址和郵遞區號),並不可撤銷地指定:, 作為轉讓代理人在轉讓代理賬簿上證明的可轉換優先股的股份。代理人可以由他人代為代理。日期:, 簽名:

(與您的名字在本證書的另一面完全相同)

簽名保證:

(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)

加薪證明書


系列累積參股優先股


花旗集團(根據第151節)

特拉華州公司法總則)

(a)花旗集團。(“公司”)是根據特拉華州公司法總則根據其第151(G)節的規定組建和存在的公司,特此證明:根據公司董事會優先股委員會的授權,優先股委員會於2010年2月8日通過了以下關於本公司R系列累計參與優先股法定股數的決議:議決將本公司R系列累積參與優先股之法定股份數目由28,000股增加至31,000股,並授權並特此指示本公司有關高級人員以本公司名義及代表本公司簽立及向特拉華州州務卿簽署及提交增持證書,將構成R系列累積參與優先股之股份數目增加至31,000股,並採取任何及所有其他必要或適當行動以落實本決議案。茲證明,公司已安排由其正式授權的人員於本年8月8日簽署本增加稅證明書

(b)2010年2月的一天。



花旗集團

(c)    作者:/S/馬丁·A·沃特斯姓名:馬丁·沃特斯

(d)標題:助理司庫

(e)修訂證書重述的證書的 花旗集團的註冊成立。


第一:該公司的名稱是花旗集團。第二:根據特拉華州一般公司法(“DGCL”)對公司重述公司註冊證書的修訂證書提交並生效(“生效時間”)後,在緊接生效時間之前發行和發行的每十股公司普通股,每股面值0.01美元,應合併為一(1)股有效發行的、已繳足和不可評估的普通股,每股面值0.01美元,而公司或其持有人不採取任何進一步行動。須遵守以下所述的零碎股份權益處理(“反向股份分拆”)。不得發行與反向股票拆分相關的普通股零碎股份證書。第三:自生效之日起,公司重新頒發的《公司註冊證書》第四條第(A)款第(1)款應修改如下: A.公司有權發行的各類股票總數為60.3億股(6,030,000,000股)。公司有權發行的普通股總數為60億股(6,000,000,000股)普通股,每股面值1美分(0.01美元)。公司有權發行的優先股總數為3000萬股(30,000,000股),每股面值為1美元(1.00美元)。

第四:上述修正案是根據特拉華州《公司法總法》第242節的規定正式通過的。第五條:上述修正案自下午4時10分起生效。(東部時間)5月6日

在證人證詞中,

本公司已於2011年5月6日由其正式授權的人員簽署了本修訂證書。



花旗集團




作者:

/S/邁克爾·S·赫爾費爾
姓名:

邁克爾·S·赫爾弗

標題:

總法律顧問兼公司祕書




授權證書


5.950%固定利率/浮動利率非累積優先股,

A系列
花旗集團。
根據《公約》第151條




德拉瓦州一般公司法

花旗集團、

特拉華州一家公司(以下簡稱“公司”)特此證明:

1.根據公司重新發布的《公司註冊證書》(已於本公告日期修訂)將公司有權發行的各類股本的股份總數確定為60億股(6,000,000,000股)普通股,每股面值0.01美元,3,000萬股(30,000,000股)優先股,每股面值1美元。

2.根據公司註冊證書明確授權本公司董事會(“董事會”)規定發行系列優先股股份,並不時釐定每個該等系列股份應包括的股份數目,以及釐定每個該等系列股份的名稱、權力、優惠及權利及其資格、限制或限制。

3.根據授予定價委員會的權力(以下簡稱“委員會”)進行審查。


定價委員會


“)經董事會批准,定價委員會於2012年10月22日正式採取行動,通過決議(I)授權發行和出售至多60,000股本公司優先股,以及(Ii)批准本最終形式的5.950固定利率/浮動利率非累積優先股A系列指定證書(以下簡稱A系列)”

系列A優先股


“)確定納入本系列A類優先股的股份數量,並確定本系列A類優先股的指定、權力、優先股和權利及其資格、限制或限制如下:

第一節.指定。
該系列優先股的名稱為“5.950固定利率/浮動利率非累積優先股,A系列”(以下簡稱“A系列優先股”)。A系列優先股的每股在各方面應與A系列優先股的其他每一股相同。
第二節股份數目。
A系列優先股授權股數為6萬股。該數目可不時增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的A系列優先股的股份數目),方法是董事會、定價委員會或其任何其他正式授權委員會正式通過進一步決議,並根據特拉華州公司法的規定提交證書,說明有關增加或減少(視情況而定)已獲授權。公司有權發行A系列優先股的零碎股份。

第三節定義。





如本文針對系列A優先股所使用的:
適當的聯盟銀行機構

指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中定義的與本公司有關的“適當的聯盟銀行機構”。

董事會“具有上述演奏會中所闡述的含義。營運日計算代理

“指以A系列優先股及其繼承人和受讓人計算代理人的身分行事的轉讓代理。

普通股“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。保存人“指DTC或其代名人或本公司委任的任何繼任託管人。紅利發放日“應具有本合同第(4)(A)節規定的含義。紅利期

“應具有本合同第(4)(A)節規定的含義。股息記錄日期“應具有本合同第(4)(A)節規定的含義。

直接轉矩」是指存管信託公司。保持器

“指以其名義登記A系列優先股股份的人士,該人可被本公司、計算代理人、轉讓代理人、登記處及支付代理人視為A系列優先股股份的絕對擁有者,以支付款項及所有其他目的。初級股




標題:

作者:

姓名:標題:司法常務官會籤

日期:ComputerShare Trust Company,N.A.為註冊處處長作者:姓名:

標題:

證書的反轉

A系列優先股的每股股息應按指定證書中規定的利率支付。



A系列優先股的股份可由本公司以指定證書所載方式及條款的選擇權贖回。

本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。

作業

對於收到的價值,簽署人將在此證明的A系列優先股的股份轉讓和轉讓給:

(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)

(填寫受讓人地址和郵遞區號)

並不可撤銷地任命:

作為轉讓代理人轉讓A系列優先股的股份,現在轉讓代理人的賬簿上證明。代理人可以由他人代為代理。日期:簽名:

(與您的名字在本證書的另一面完全相同)

簽名保證:

(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)

授權證書


5.90%固定利率/浮動利率非累積優先股,B系列



花旗集團

根據《聯合國憲章》第151條

德拉瓦州一般公司法花旗集團(y) ,特拉華州一家公司(“本公司”)特此證明:

1.根據公司重新發布的《公司註冊證書》(已於本公告日期修訂)將公司有權發行的各類股本的股份總數確定為60億股(6,000,000,000股)普通股,每股面值0.01美元,3,000萬股(30,000,000股)優先股,每股面值1美元。

2.根據公司註冊證書明確授權本公司董事會(“董事會”)規定發行系列優先股股份,並不時釐定每個該等系列股份應包括的股份數目,以及釐定每個該等系列股份的名稱、權力、優惠及權利及其資格、限制或限制。

3.根據授予定價委員會的權力(以下簡稱“委員會”)進行審查。

定價委員會

“指DTC或其代名人或本公司委任的任何繼任託管人。

紅利發放日





“應具有本協定第4(A)節規定的含義。

紅利期

“應具有本協定第4(A)節規定的含義。

股息記錄日期“應具有本協定第4(A)節規定的含義。直接轉矩

」是指存管信託公司。

保持器

“指B系列優先股的股份登記在其名下的人,公司、計算代理人、轉讓代理人、註冊人和支付代理人可將該人視為B系列優先股股份的絕對擁有者,用於付款和所有其他目的。初級股

“指普通股及本公司現有或以後獲授權的任何其他類別或系列的股票,在本公司任何自願或非自願的清算、解散或清盤時,B系列優先股在派發股息或分配資產方面享有優先權或優先權。倫敦銀行同業拆借利率確定日期

“指緊接有關股息期首日之前的第二個倫敦銀行日。倫敦銀行日

“指商業銀行在倫敦營業的任何一天(包括美元存款交易)。不付款

“應具有本協定第7(B)(I)節規定的含義。

(清算優先權為每股25,000美元)花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定的、面值為每股1.00美元、清算優先權為每股25,000美元的固定利率/浮動利率非累積優先股B系列(“B系列優先股”)的[]繳足股款及不可評估股份的登記擁有人。B系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。本書所述B系列優先股的名稱、權利、特權、限制、優惠及其他條款及條文,在各方面均受日期為2012年12月[]的指定證書(“指定證書”)的規定所規限(“指定證書”)。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。

茲參考本文背面所列B系列優先股的精選條款和指定證書,其中精選條款和指定證書在所有目的中應具有與此地所述相同的效力。持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。

除非註冊處已適當會籤,否則該等B系列優先股股份將無權享有指定證書下的任何利益,亦不得就任何目的而具有效力或義務。本證書由公司代表公司簽署,特此為證

[標題]並通過它的

[標題]_年_月_日。

花旗集團。由:_




姓名: 標題:

由:_姓名:

標題:司法常務官會籤

這些股票是上述指定證書中所指的B系列優先股。日期:

ComputerShare Trust Company,N.A.為註冊處處長

姓名: 標題:

證書的反轉*B系列優先股每股的股息應按指定證書中規定的利率支付。

*B系列優先股的股份可由本公司選擇以指定證書所載方式及條款贖回。本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。

作業根據收到的價值,簽署人將所證明的B系列優先股的股份轉讓和轉讓給:

(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)

並不可撤銷地任命:作為轉讓代理人轉讓A系列優先股的股份,現在轉讓代理人的賬簿上予以證明。代理人可以由他人代為代理。

日期:簽名:

(與您的名字在本證書的另一面完全相同)簽名保證:___________________________________________________

(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)所有權證書和合並

正在合併花旗集團融資公司。

(德拉瓦州一家公司)With和Into

花旗集團(特拉華州一家公司)

(根據《條例》第253條特拉華州一般公司法)

花旗集團,特拉華州的一家公司(“花旗”),特此證明:第一

:**花旗集團擁有特拉華州公司(CFI)花旗集團融資公司(Citigroup Funding Inc.)的所有流通股。

第二



:-花旗集團董事會在2012年6月18日舉行的董事會會議上通過了某些決議,包括以下正式通過的決議,其中董事會決定根據特拉華州公司法第253條將CFI與花旗集團合併並併入花旗集團:

解決,根據本次會議討論的所有因素和向花旗集團(“花旗”)董事會(“董事會”)成員提供的資料,董事會特此決定,將花旗集團旗下特拉華州公司、花旗集團的全資附屬公司花旗融資有限公司(“CFI”)與花旗集團合併並併入花旗集團(“合併”)是明智的,也是符合花旗及其股東的最佳利益的;

進一步解決(A)根據《特拉華州公司法》第253條,在向特拉華州國務祕書辦公室提交所有權證書和合並證書後,或在該所有權證書和合並證書指定的時間,CFI將與花旗集團合併並併入花旗集團,花旗集團將是尚存的公司;。(B)由於合併,CFI已發行和已發行的普通股的每股股份須被註銷,不得為此支付任何代價,CFI的單獨存在將停止。(C)在合併的同時,花旗集團將承擔緊接合並前存在的CFI的所有權利和義務,包括但不限於,支付CFI所有未償還票據、債券和商業票據的本金、利息和溢價的義務,以及支付CFI其他未償還資金義務、工具或證券的到期金額的義務,包括但不限於其指數認股權證;。(D)花旗集團應並在此獲授權訂立任何及所有合約、票據、契據,獲授權人員就合併及承擔前述(C)、(E)項所述權利及義務而認為適當、可取或必需的協定及其他檔案及其任何補充或修訂。(E)在緊接合並生效前有效的花旗集團公司註冊證書及附例,即為該尚存公司的公司註冊證書及附例。

(F)緊接合並前的花旗集團的高級人員及董事應為該尚存的法團的高級人員及董事;及進一步解決

,首席執行官、總裁、任何副主席、首席財務官、總法律顧問、公司祕書、首席會計官、司庫、副司庫或花旗集團總裁副行長授權的任何高級人員(各為“獲授權人員”),現授權並指示他們每人以花旗集團的名義和代表花旗集團簽立一份關於該合併的所有權和合並證書,其中列出董事會授權合併的決議的副本和通過該等決議的日期,並按照《特拉華州國務祕書辦公室條例》第103和253條的規定,安排將這些檔案提交特拉華州國務祕書辦公室。第三

: 本所有權和合併證書(以及此處提及的合併)將於2012年12月31日晚上11:58(德拉瓦州威爾明頓當地時間)生效。 [簽名頁如下]

花旗集團有限公司作為證人已導致其正式授權官員於以下日期簽署本所有權和合併證書。花旗集團

作者: /s/約瑟夫·博諾科爾

(i)    姓名:約瑟夫·博諾科爾 職務:副財務主管 日期:

(ii)    2012年12月12

(iii)    授權證書

5.80%非刺激性庫存C系列

花旗集團

根據第151條 德拉瓦州一般公司法

花旗集團,德拉瓦州一家公司(「公司」),特此證明:




“具有上述演奏會中所闡述的含義。營運日

“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。計算代理

“指以C系列優先股及其繼承人和受讓人的計算代理身分行事的轉讓代理。普通股

“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。保存人

“指DTC或其代名人或本公司委任的任何繼任託管人。紅利發放日

“應具有本協定第4(A)節規定的含義。紅利期

“應具有本協定第4(A)節規定的含義。股息記錄日期

直接轉矩

」是指存管信託公司。保持器

“指C系列優先股的股份以其名義登記的人,公司、計算代理人、轉讓代理人、註冊人和支付代理人可將該人視為C系列優先股股份的絕對擁有者,用於付款和所有其他目的。初級股

“指普通股及本公司現有或日後獲授權的任何其他類別或系列股票,C系列優先股在支付股息或在本公司任何自願或非自願清算、解散或清盤時的資產分配方面享有優先權或優先權。不付款

“應具有本協定第7(B)(I)節規定的含義。

“指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。

“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。

(a)    優先股董事“應具有本協定第7(B)(I)節規定的含義。優先股董事終止日期“應具有本協定第7(B)(4)節所規定的含義。書記官長“指以C系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。監管資本事件“指本公司真誠地決定,由於(I)對C系列優先股的任何股份首次發行後頒佈或生效的美國法律或法規或美國的任何政治分區的任何修訂、澄清或更改,(Ii)在C系列優先股的任何股份首次發行後宣佈或生效的該等法律或法規的任何擬議更改,或(Iii)在任何C系列優先股首次發行後宣佈的解釋或實施與此相關的法律或法規或政策的任何官方行政決定或司法決定或行政行動或其他官方聲明,公司將有權根據當時有效和適用的美聯儲資本充足率指導方針(或如適用,任何後續適當的聯盟銀行機構的資本充足率指導方針或規定)將當時有效且適用的C系列優先股每股25,000美元的全部清算優先股金額視為“一級資本”(或其等價物),這是一種微不足道的風險。只要C系列優先股的任何股份都是流通股。C系列清算優先權“應具有本協定第5(A)節規定的含義。



C系列優先股

(b)    “應具有本協定第一節所規定的含義。C系列優先股證書

(c)    本公司不是尚存實體或結果實體的,被轉換或交換為尚存或結果實體或其最終母公司的優先證券,該實體是根據美利堅合眾國、其任何州或哥倫比亞特區的法律組織和存在的實體,並且是美國聯盟所得稅公司(或如果該實體不是公司,則本公司已收到在該等事項方面經驗豐富的全國公認律師的意見,大意是,在該等合併或合併後,持有者將因美國聯盟所得稅的目的而就該等新的優先證券繳納相同數額的稅,同時及以與上述合併或合併前C系列優先股的情況相同的方式),及(Ii)該等尚未發行的C系列優先股或該等優先證券(視屬何情況而定)整體而言對持有人的權利、優先權、特權及投票權並不比C系列優先股的整體權利、優先權、特權及投票權為低;但前提

(i)    為免生疑問,在公司清盤、解散或清盤時,就股息的支付(不論該等股息是否累積或非累積)及/或資產分配而言,C系列優先股或任何可轉換為優先股的證券的款額的任何增加,或其他系列優先股或任何可轉換為優先股的證券的設立及發行,或任何可轉換為與C系列優先股同等及/或低於C系列優先股的證券的授權或發行金額的增加,將不會被視為對C系列優先股的投票權、優先權或特別權利產生不利影響。任何股東都無權因本第7條的規定而對此類增發、創設或發行進行投票。

(ii)    如果本第7(C)條規定的任何修訂、變更、廢除、換股、重新分類、合併或合併將對C系列優先股產生不利影響,但不是本公司所有系列優先股,則只有受到不利影響並有權就此事投票的優先股系列才應與C系列優先股作為一個單一類別(而不是所有其他優先股系列)一起就該事項進行投票,以達到本第7(C)條所要求的投票或同意的目的。

(iii)    如果贖回,則投反對票

(iv)    。根據第7(B)或7(C)節,倘於本公司須就投票或同意作出行動時或之前,本公司應已贖回或已要求贖回所有C系列優先股已發行股份,並已發出適當通知及已就該等贖回預留足夠資金,則根據第7(B)或7(C)節,本公司應已贖回或要求贖回C系列優先股所有已發行股份,並已根據上文第7(B)或7(C)節預留足夠資金。

(v)    第8節.優先購買權和轉換權

(vi)    持有者不應因本協定條款而享有任何優先購買權或轉換權。

第9節.職級

為免生疑問,董事會或其任何正式授權委員會可不經持有人投票而授權及發行額外的初級股票或本公司現有或以後獲授權的任何類別或系列股票的股份,而該等股份在支付股息或在本公司任何自願或非自願清盤、解散或清盤時與C系列優先股同等。

(e)    第10節.重新獲得的股份董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的C系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。



第11條.無償債基金

C系列優先股的股票不受償債基金運作的約束。

(a)    第12節轉賬代理人、計算代理人、登記官及付款代理人C系列優先股的正式指定轉讓代理人、計算代理人、註冊人和支付代理人應為ComputerShare Trust Company,N.A.公司可根據公司與轉讓代理人之間的協定自行決定解除轉讓代理人;

(b)    但前提,公司應指定一名繼任轉讓代理人,該代理人應在該項免職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。

(c)    第13節損壞、銷毀、被盜和遺失的證書的更換證書如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。

(d)    第T14節表格C系列優先股股票

C系列優先股應以經認證的形式發行,其形式基本上與本文件所附附件A(每個,a)的形式相同

(a)    C系列優先股證書“)。附件A特此併入並明確成為本指定證書的一部分。C系列優先股證書可能有法律、證券交易規則、公司必須遵守的協定(如果有的話)或慣例所要求的符號、圖例或背書(前提是任何此類符號、圖例或背書採用公司可接受的形式)。

(b)

(b)    簽名兩名高級管理人員應根據公司章程和適用法律,以手工或傳真方式簽署公司的任何C系列優先股證書。如果在C系列優先股證書上簽字的高級職員在轉讓代理會籤C系列優先股證書時不再擔任該職位,則該C系列優先股證書仍然有效。在轉讓代理的授權簽字人手動加簽C系列優先股證書之前,C系列優先股證書無效。每張C系列優先股證書的日期應為其會籤日期。




(i)    第15節.稅收

(ii)    轉讓稅

(iii)    。公司應支付與發行或交付C系列優先股股票有關的任何和所有股票轉讓、單據、印花稅和類似稅款。然而,本公司無須就發行或交付C系列優先股股份所涉及的任何轉讓(C系列優先股股份的登記名稱除外)繳付任何該等稅款,或就支付予任何人的任何付款(付款予該等優先股的登記持有人除外),並無須作出任何該等發行、交付或付款,除非與直至以其他方式有權獲得該等發行、交付或付款的人已向本公司繳付任何該等稅款的款額或已確立令本公司滿意的款額,該等稅項已繳付或無須繳付。

(iv)    扣繳

(v)    。對C系列優先股股票的所有付款和分配(或被視為分配)應在法律要求的範圍內預扣和備用預扣稅款,但須遵守適用的豁免,如果有預扣金額,應視為持有人已收到。

第16節.通告

(c)    本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發送),並預付郵資:(I)如寄往本公司、其位於紐約Park Avenue 399,New York 10043的辦公室(注意:公司祕書),或寄往本公司位於02021馬薩諸塞州02021 Royall Street 250Royall Street的辦公室或本公司的其他代理按本指定證書許可指定,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿所載有關持有人的地址(可包括過戶代理的記錄)或(Iii)本公司或任何該等持有人(視情況而定)以類似方式發出的通知所指定的其他地址。

(d)    第17條放棄的其他權利。C系列優先股的股份沒有投票權、優先權或相對的、參與的、可選擇的或其他特殊權利,或其資格、限制或限制,但本文或本公司的公司註冊證書中規定的除外。茲證明,本指定證書已由本公司首席會計官於本年25年代表本公司簽署

(e)    [標題] 性和

[標題]

_日。

花旗集團

(a)    作者:_ 姓名:




(b)    標題:作者:_

(c)    姓名: 標題:

(d)    註冊人的反簽名 這些是上述指定證書中提及的C系列優先股的股份。

(e)    日期: CLARTERSHARE TRUSt Company,NA,為書記官長

(i)    作者:_

(ii)    姓名:

(iii)    標題:

(iv)    證書的逆轉

(v)     每股C系列優先股的股息應按照指定證書中規定的費率支付。

此外,C系列優先股的股份可由本公司按指定證書所載方式及條款選擇贖回。本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。作業

根據收到的價值,簽署人將所證明的C系列優先股的股份轉讓和轉讓給:

(a)    (如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)並不可撤銷地任命:作為轉讓代理人轉讓A系列優先股的股份,現在轉讓代理人的賬簿上予以證明。代理人可以由他人代為代理。日期:簽名:(與您的名字在本證書的另一面完全相同)簽名保證:___________________________________________________

(b)    (簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)授權證書5.350%固定利率/浮動利率非累積優先股,




D系列
$26.35$29.00$31.50$34.00$36.50$39.00$41.50$45.00$50.00$55.00$60.00$70.00$80.00
花旗集團
415.0586336.6450280.8732237.7517203.8817176.8906155.0925131.0448105.838287.753574.314255.912044.0147
根據《聯合國憲章》第151條
415.0586335.6342277.8014233.2029198.3240170.6875148.5209124.293099.260981.626168.756051.575040.7288
董事會
407.7693323.3739263.5573217.7120182.0825154.1127131.9261108.040283.951767.509755.893941.025732.1297
“具有上述演奏會中所闡述的含義。
395.7941307.9461245.7090198.1091161.3901132.8521110.522686.981864.108049.309939.457827.859621.5687
營運日
381.2183289.4432223.9699173.5976134.6697104.587861.424257.840436.676024.696017.937811.58609.0663
“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。
357.8192261.7929193.6996140.805298.301963.025533.58714.81440.00000.00000.00000.00000.0000
計算代理
332.5456231.2139162.2294112.032074.850046.388824.10983.28560.00000.00000.00000.00000.0000
“指以D系列優先股及其繼承人和受讓人的計算代理身分行事的轉讓代理。
305.5166179.311985.23332.76840.00000.00000.00000.00000.00000.00000.00000 00000.0000

(i)    普通股

(A)    

(B)    保存人

(C)    “指DTC或其代名人或本公司委任的任何繼任託管人。

(ii)    紅利發放日

(c)    “應具有本協定第4(A)節規定的含義。紅利期

(i)    “應具有本協定第4(A)節規定的含義。

(ii)    股息記錄日期

(d)    “應具有本協定第4(A)節規定的含義。直接轉矩

(i)    」是指存管信託公司。

(ii)    保持器

(iii)    “指以其名義登記D系列優先股股份的人,公司、計算代理人、轉讓代理人、登記處及付款代理人可將該人視為D系列優先股股份的絕對擁有者,以付款及所有其他目的。




(iv)    初級股

(e)    

(f)    倫敦銀行同業拆借利率確定日期“指緊接有關股息期首日之前的第二個倫敦銀行日。

(g)    倫敦銀行日

(h)    不付款“應具有本協定第7(B)(I)節規定的含義。


(a)    “指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。優先股董事“應具有本協定第7(B)(I)節規定的含義。”).

(b)    優先股董事終止日期“應具有本協定第7(B)(4)節所規定的含義。

(c)    書記官長“指以D系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。

(d)    監管資本事件優先股的比例

(f)    花旗集團的名字。(根據《總則》第243條

(g)    特拉華州公司法)花旗集團是根據特拉華州《公司法》正式成立並存續的公司,茲證明如下:




(h)    第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行66,700股6.5%非累積可轉換優先股T系列(“T系列優先股”),每股面值1.00美元,每股聲明價值25,000美元。第二:花旗集團已經註銷了t系列優先股的所有授權股份。

第三:根據特拉華州公司法第243條的規定,被指定為優先股,系列t的股票在此恢復為花旗集團優先股的授權但未發行的股份的狀態。

(a)    特此作證,花旗集團。已促使本證書由以下正式授權的助理司庫簽署1St

(b)    2013年7月的一天。花旗集團。

(c)    作者:S/馬丁·A·沃特斯*他是助理財務主管。授權證書7.125%固定利率/浮動利率非累積優先股系列J

(i)    

(ii)    花旗集團

(iii)    根據《聯合國憲章》第151條

德拉瓦州一般公司法

記者花旗集團報道。,特拉華州一家公司(“本公司”)特此證明:根據《公司註冊證書》(以下簡稱《公司註冊證書》),公司有權發行60億股(6,000,000,000股)普通股,每股面值為0.01美元,3,000萬股(30,000,000股)優先股,每股面值1,00美元。

*公司註冊證書明確授權本公司董事會(“董事會”)規定發行系列優先股股份,並不時釐定每個該等系列的股份數目,以及釐定每個該等系列股份的名稱、權力、優惠及權利及其資格、限制或限制。

*1定價委員會0“)經董事會批准,定價委員會於2013年9月12日正式採取行動,通過決議(I)授權發行和出售至多41,400股公司優先股,以及(Ii)批准本最終形式的J系列固定利率/浮動利率非累積優先股7.125%的指定證書(1J系列優先股0)
“)確定納入J系列優先股的股份數量,並確定J系列優先股的指定、權力、優先股和權利及其資格、限制或限制如下:
第1節.指定0
該系列優先股的名稱應為“7.125固定利率/浮動利率非累積優先股,J系列”(“J系列優先股”)。每一股J系列優先股應在各方面與J系列優先股的所有其他股份相同。
1
J系列優先股的授權股數為41,400股。該數目可不時增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的J系列優先股的股份數目),方法是董事會、定價委員會或其任何其他正式授權委員會正式通過進一步決議,並根據特拉華州公司法的規定提交證書,說明該項增加或減少(視情況而定)已獲授權。公司有權發行J系列優先股的零股。第3節.定義
。如本文針對J系列優先股所使用的:0
適當的聯盟銀行機構指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中所定義的與本公司有關的“適當的聯盟銀行機構”。
董事會1
“具有上述演奏會中所闡述的含義。營運日




“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。

計算代理

“指以J系列優先股及其繼承人和受讓人的計算代理身分行事的轉讓代理。1普通股o“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。o保存人o“指DTC或其代名人或本公司委任的任何繼任託管人。
紅利發放日
“應具有本協定第4(A)節規定的含義。0
紅利期“應具有本協定第4(A)節規定的含義。
股息記錄日期1
“應具有本協定第4(A)節規定的含義。直接轉矩
」是指存管信託公司。0
保持器
X
代理人可以由他人代為代理。日期:
Y
簽名:(與您的名字在本證書的另一面完全相同)

簽名保證:___________________________________________________

(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)

1 優先股的比例花旗集團的名字。0 x (根據《總則》第243條0 / 特拉華州公司法)0花旗集團是根據特拉華州《公司法》正式成立並存續的公司,茲證明如下:
第二:R系列優先股尚未發行或將發行。0
第三:根據特拉華州公司法第243條的規定,公司註冊證書中對R系列優先股的所有提及在此被刪除,指定為該系列的股票在此恢復為花旗集團優先股的授權但未發行的股票的狀態。特此作證,花旗集團。已促使本證書由以下正式授權的助理國務卿簽署
1
2013年10月的那一天。花旗集團。
*人士:0
該系列優先股的名稱應為“6.875固定利率/浮動利率非累積優先股,K系列”(“K系列優先股”)。K系列優先股的每一股在各方面應與k系列優先股的其他每一股相同。第二節股份數量
K系列優先股的授權股數為59,800股。該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會正式通過的進一步決議案以及根據特拉華州公司法的規定提交證書述明該項增加或減少(視情況而定)而增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的k系列優先股的股份數目)。本公司有權發行k系列優先股的零股。
第3節.定義。如本文針對k系列優先股所使用的:

適當的聯盟銀行機構




指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中所定義的與本公司有關的“適當的聯盟銀行機構”。1 董事會“具有上述演奏會中所闡述的含義。0 x 營運日0“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。計算代理0“指以k系列優先股及其繼承人和受讓人的計算代理身分行事的轉讓代理。0
普通股
“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。0
保存人“指DTC或其代名人或本公司委任的任何繼任託管人。
紅利發放日1
“應具有本協定第4(A)節規定的含義。紅利期
信任0
“應具有第6(D)節所給出的含義。第四節分紅
0
。當董事會或其任何正式授權的委員會宣佈時,持有者有權從合法可用資金中獲得k系列優先股每股的非累積現金股息,金額如下第4節所述,自2014年2月15日起,包括髮行之日起,每年2月15日、5月15日、8月15日和11月15日按季度支付;然而,前提是

(iv)    如果任何此類日期不是營業日,則將在隨後的下一個營業日支付任何原本應在該日支付的股息(除非在2023年11月15日之後,該日落在下一個日曆月,在這種情況下,任何否則應支付的股息將在之前的第一個營業日支付),(I)在2023年11月15日或之前,不就該延遲支付任何利息或其他款項,以及(Ii)在2023年11月15日之後,股息應計至實際支付日期(每個應支付股息的日期)紅利發放日“)。自k系列優先股發行日期或任何股息支付日期起至(但不包括)下一個股息支付日期的期間為“

紅利期10股息記錄日期0“)。任何屬於股息記錄日期的日期都將是股息記錄日期,無論該日期是否為營業日。在2023年11月15日或之前支付的股息金額將以360天的一年12個30天的月為基礎計算。2023年11月15日以後支付的股息金額將以一年360天和實際經過的天數為基礎計算。0 -C)
。如果董事會或其任何正式授權的委員會沒有在相關股息支付日期之前的任何股息期間宣佈k系列優先股的股息,該股息將不會產生,本公司將沒有義務在相關股息支付日期或未來任何時間支付該股息期間的股息,而持有人也無權收取股息,無論是否宣佈了k系列優先股或任何其他系列優先股或普通股的股息。本文中提及的股息“應計”僅指確定股息的數額,並不意味著在宣佈股息之日之前產生任何股息權利。0
派息的優先次序。只要K系列優先股的任何股份仍未發行,本公司將不會、亦不會安排其附屬公司在該股息支付日開始的下一個股息期內,宣佈及支付或宣派K系列優先股所有已發行股份的全部股息,並已就該股息期末撥備足夠支付該等股息的款項,否則本公司不會、亦不會安排其附屬公司在該股息支付日開始的下一個股息期間宣佈或支付任何股息、作出任何
與任何初級股票有關的分派,或與之有關的贖回、購買、收購或支付清算款項,或與之有關的任何擔保付款,但以下情況除外:1
(I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;(2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;
特此證明,本證書已由其代表公司簽署 0
[標題] 性和
C
[標題] _日。

花旗集團

(v)    作者:_




姓名: 1標題:0作者:_ 1姓名: 1標題:1註冊人的反簽名 0)
這些是上述指定證書中提及的k系列優先股的股份。
日期: 0
CLARTERSHARE TRUSt Company,NA,為書記官長作者:_
姓名: 1
標題:證書的逆轉
*k系列優先股的每股股息應按指定證書中規定的利率支付。
*k系列優先股的股份可由本公司選擇以指定證書所載方式及條款贖回。
本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。作業”)
根據收到的價值,簽署人將證明的k系列優先股的股份轉讓和轉讓給:1
(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)
(填寫受讓人地址和郵遞區號)並不可撤銷地任命:作為轉讓代理,轉讓代理賬簿上證明的K系列優先股的股份。代理人可以由他人代為代理。
日期:0
簽名:(與您的名字在本證書的另一面完全相同)
簽名保證:___________________________________________________1
(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)更正後的指定證書

(b)    6.300%固定利率/浮動利率非累積優先股系列M花旗集團

(c)    依據《條例》第103(F)及151條

(i)        董事會

(ii)        “具有上述演奏會中所闡述的含義。 營運日“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。計算代理

(iii)    

普通股

(B)    “指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。

(C)    保存人




(iv)    “指DTC或其代名人或本公司委任的任何繼任託管人。

(v)    紅利發放日

(vi)    “應具有本協定第4(A)節規定的含義。

(vii)    紅利期

(d)    “應具有本協定第4(A)節規定的含義。股息記錄日期“應具有本協定第4(A)節規定的含義。直接轉矩

(e)    」是指存管信託公司。保持器

(f)    “指以其名義登記m系列優先股股份的人士,本公司、計算代理人、轉讓代理人、登記處及付款代理人可將該人視為m系列優先股股份的絕對擁有者,以支付款項及所有其他目的。“指商業銀行在倫敦營業的任何一天(包括美元存款交易)。

(g)    不付款“應具有本協定第7(B)(I)節規定的含義。

(h)    “指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。

(i)    

(ii)    “是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。

(i)    優先股董事“應具有本協定第7(B)(I)節規定的含義。



優先股董事終止日期

(j)    “應具有本協定第7(B)(4)節所規定的含義。書記官長

“指以N系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。

(a)    監管資本事件“指本公司真誠地決定,由於(I)對N系列優先股的任何股份首次發行後頒佈或生效的美國法律或法規或美國任何政治分區的任何修訂、澄清或更改,(Ii)在N系列優先股的任何股份首次發行後宣佈或生效的該等法律或法規的任何擬議更改,或(Iii)在任何N系列優先股股票首次發行後宣佈的解釋或實施與之相關的法律、法規或政策的任何官方行政決定或司法決定或行政行動或其他官方聲明,公司將有權根據當時有效和適用的美聯儲資本充足率指導方針(或任何後續適當的聯盟銀行機構的資本充足率指導方針或規定,如適用)將N系列優先股每股25,000美元的全部清算優先股金額視為當時有效和適用的“一級資本”(或其等價物),這是一種微不足道的風險。只要N系列優先股中的任何一股尚未發行。

(1)    路透社LIBOR01

(2)    指在路透社3000 Xtra服務的LIBOR01頁上指定的顯示器(或可能取代該服務或由英國銀行家協會或其他機構提名的其他服務的其他頁面

(3)    倫敦銀行同業拆借利率管理人,用於顯示美元存款或貸款的倫敦銀行間同業拆借利率)。N系列優先股“應具有本協定第一節所規定的含義。清算。如果公司發生任何自願或非自願的清算、解散或結束公司的事務,持有人有權在公司作出任何分配或支付之前,或在公司為任何初級股票持有人預留任何分派或付款之前,從合法可用資金中,獲得全額清算分派,每股25,000美元的清算優先股(以下簡稱“優先股”),但受清算時優先於N系列優先股或與N系列優先股相當的任何類別或系列股票的持有人的權利以及公司存款人和其他債權人的權利限制。N系列清算優先權“),加上自上次股息支付日期起至(但不包括)已宣佈但尚未支付的範圍內的清盤、解散或清盤日期的任何應計股息。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有人無權獲得任何其他付款,但本節第5款明確規定的除外。部分付款。如本公司的資產不足以全數支付上述向持有人支付的清算分派,以及在本公司任何自願或非自願清盤、解散或清盤時,在分配資產方面與N系列優先股平分的本公司任何類別或系列股票的持有人所欠的任何清算分派,則支付給持有人及所有該等同等級別股票的持有人的金額,將按照他們原本有權獲得的清盤分派總額按比例支付。

(b)    合併、合併和出售資產,而不是清算。就本節第5款而言,出售、轉易、交換或轉讓(以現金、股票、證券或其他代價換取)本公司全部或幾乎所有財產及資產,不得視為自願或非自願解散、清盤或清盤本公司事務,亦不得視為本公司與任何其他法團或人士合併、合併或任何其他業務合併交易,或任何其他法團或人士與本公司合併、合併或任何其他業務合併交易,亦不得視為自願或非自願解散、清盤或清盤本公司事務。

(c)    第6節.贖回可選的贖回

(d)    。本公司可根據董事會或其任何正式授權委員會的選擇,從合法可供贖回的資金中贖回:(I)在2019年11月15日或之後的任何股息支付日期時,不時全部或部分贖回N系列優先股,或(Ii)在監管資本事件後90天內的任何時間贖回全部但不部分N系列優先股,每種情況下贖回價格均等於每股25,000美元加上任何已申報和未支付的股息,不累積任何未申報股息,但不包括贖回日期,根據下文第6(B)節的規定發出通知。贖回通知


(a)    將按其在本公司股票登記冊上的最後地址贖回。郵寄日期至少為贖回日期前30天,不超過60天。按第6(B)節規定郵寄的任何通知應被最終推定為已正式發出,無論持有人是否收到該通知,但未能通過郵寄方式向指定贖回N系列優先股股份的任何持有人發出該通知,或該通知中或郵寄中的任何缺陷,並不影響贖回N系列優先股任何其他股份的程式的有效性。每份通知應說明:(I)贖回日期;




(b)    (Ii)將贖回的N系列優先股的股份總數,如要贖回的股份少於持有人的全部股份,則須贖回該等股份的數目;

(i)    (Iii)贖回價格;(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及(V)擬贖回股份的股息將於贖回日期停止累算。儘管如上所述,如果證明N系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。“應具有本協定第4(A)節規定的含義。.”

(ii)    紅利期“應具有本協定第4(A)節規定的含義。

(iii)    股息記錄日期“應具有本協定第4(A)節規定的含義。

(iv)    直接轉矩」是指存管信託公司。



保持器

(c)    “指O系列優先股的股份登記在其名下的人,可由公司、計算代理人、轉讓代理人、登記員處理以及支付代理人作為O系列優先股股份的絕對擁有者,用於支付和所有其他目的。

(i)    初級股

(ii)    “指普通股及任何其他類別或系列的

(iii)    公司現有或以後授權的O系列優先股

在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。倫敦銀行同業拆借利率確定日期

“指緊接有關股息期首日之前的第二個倫敦銀行日。

(d)    倫敦銀行日

不付款




“應具有本協定第7(B)(I)節規定的含義。

“指自股息期第一天開始的三個月內美元存款的利率(以年百分比表示),截至上午11點,該利率出現在Reuters LIBOR01頁面上。(倫敦時間)在該股息期的LIBOR確定日期。如果該利率沒有出現在路透社的LIBOR01頁面上,三個月期LIBOR將根據倫敦時間上午11點左右由計算代理(在與公司協商後)選擇的倫敦銀行間市場四家主要銀行向倫敦銀行間市場主要銀行提供的不低於100LIBOR的美元存款利率來確定,該三個月期存款從該股息期的第一天開始,為期三個月,本金不低於100LIBOR。萬。計算代理將要求每一家此類銀行的主要倫敦辦事處提供其利率報價。如果至少提供了兩個這樣的報價,關於該股息期的三個月倫敦銀行同業拆借利率將是該等報價的算術平均值(如有必要,向上舍入到最接近的0.00001%的整數倍)。如果提供的報價少於兩個,則關於該股息期的三個月倫敦銀行同業拆借利率將是紐約市三家主要銀行所報利率的算術平均值(必要時向上舍入到最接近的整數倍數0.00001%),該利率由計算代理(在與公司磋商後)在紐約市時間上午11點左右選擇,在該股息期的倫敦銀行同業拆借利率確定日期以美元向歐洲主要銀行提供為期三個月的貸款,從該股息期的第一天開始,本金金額不低於100萬。然而,如果計算代理選擇提供報價的銀行少於三家,則該股息期的三個月LIBOR將與上一股息期確定的三個月LIBOR相同,或者,如果股息期從2020年3月27日開始,則為0.27065%。計算代理對每個相關股息期的三個月LIBOR的確定(在沒有明顯錯誤的情況下)將是最終的和具有約束力的。

轉移劑

指北卡羅來納州的ComputerShare Trust Company,這是一個聯盟特許的全國性協會,擔任O系列優先股及其繼承人和受讓人的轉讓代理、計算代理、登記處和支付代理。

信任“應具有第6(D)節所給出的含義。。當董事會或其任何正式授權的委員會宣佈時,持有人有權獲得O系列優先股每股股票的非累積現金股息,金額為

(I)每半年一次,分別於每年3月27日和9月27日(每一年3月27日和9月27日

紅利發放日

“),自2015年9月27日起,自發布之日起至2020年3月27日止,但不包括在內;

然而,前提是

如果任何這樣的日期不是營業日,則將在下一個營業日(即營業日)支付任何原本應在該日支付的股息,並且(Ii)從2020年3月27日開始的每個3月27日、6月27日、9月27日和12月27日(自2020年3月27日開始幷包括該日)每季度拖欠股息,不支付任何利息或其他費用;

(a)    但前提如上述任何一日不是營業日,則在隨後的下一個營業日即營業日支付任何股息,但如果該日落在下一個歷月,在這種情況下,任何本來應支付的股息將在緊接的前一個營業日支付,股息應計至實際支付日(股息期後的任何股息期(定義如下)支付股息的每一日,直至2020年3月27日,但不包括

(b)    股息支付日期“)。自O系列優先股發行日期或任何股息支付日期起至(但不包括)下一個股息支付日期的期間為“

(c)    紅利期“O系列優先股的每股股息將根據清算優先權每股25,000美元應計,年利率等於(I)5.875%,自發行日期起至2020年3月27日(但不包括)的每個股息期及(Ii)三個月LIBOR加4.059%,自2020年3月27日起及包括該日起的每個股息期。O系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。

(d)    股息記錄日期

(e)    授權證書5.950%固定利率/浮動利率非累積優先股系列P



花旗集團

依據《條例》第103(F)及151條

德拉瓦州一般公司法

花旗集團

(a)    ,特拉華州一家公司(“本公司”)特此證明:經修訂的公司註冊證書(“公司註冊證書”)將公司有權發行的各類股本的股份總數定為60億股(6,000,000,000股)普通股,每股面值0.01美元,以及3,000萬股(30,000,000股)優先股,每股面值1美元。

(b)    根據授予優先股委員會的權力(“

優先股委員會

(a)    “)經董事會批准,優先股委員會於2015年4月20日正式採取行動,通過決議(I)授權發行和出售至多80,000股本公司優先股,以及(Ii)批准本指定證書的最終格式為5.950%固定利率/浮動利率非累積優先股,P系列(”P系列優先股“)確定將納入本P系列優先股的股份數量,並確定本P系列優先股的指定、權力、優先股和權利及其資格、限制或限制如下:第1節.指定

(b)    該系列優先股的名稱應為“P系列5.950固定/浮動利率非累積優先股”(“P系列優先股”)。P系列優先股的每一股應在各方面與P系列優先股的其他每一股相同。第二節股份數量

(c)    “應具有第6(D)節所給出的含義。第四節分紅。當董事會或其任何正式授權的委員會宣佈時,持有人應有權獲得P系列優先股每股股票的非累積現金股息,金額為

(d)    (I)每半年於每年5月15日和11月15日(每一年5月15日和11月15日)紅利發放日



“),自2015年11月15日起,自簽發之日起至2025年5月15日止,但不包括在內;

(e)    然而,前提是如果任何這樣的日期不是營業日,則將在隨後的下一個營業日支付任何本來應在該日支付的股息,而不支付任何與該延遲有關的利息或其他付款,以及(Ii)從2025年5月15日開始的每個2月15日、5月15日、8月15日和11月15日每季度拖欠股息,自2025年5月15日起幷包括該日在內;

但前提

(a)    如果上述任何一日不是營業日,則在隨後的下一個營業日(即營業日)支付任何股息,但如果該日落在下一個歷月,在這種情況下,任何本來應支付的股息將在緊接的前一個營業日支付,股息應計至實際支付日(股息期後任何股息期(定義如下)支付股息的每一日,直至但不包括2025年5月15日)股息支付日期

(b)    “)。自P系列優先股發行日期或任何股息支付日期起至(但不包括)下一個股息支付日期的期間為“紅利期

“P系列優先股的每股股息將在清算優先權時應計,每股25,000美元,年利率等於(I)5.950%,自發行之日起至2025年5月15日(但不包括)的每個股息期和(Ii)三個月LIBOR加3.905%,從2025年5月15日起及包括在內的每個股息期。P系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。

股息記錄日期 “)。任何屬於股息記錄日期的日期都將是股息記錄日期,無論該日期是否為營業日。在2025年5月15日或之前支付的股息金額將以360天的一年12個30天的月為基礎計算。2025年5月15日以後支付的股息金額將以一年360天和實際經過的天數為基礎計算。




非累積股息

。如果董事會或其任何正式授權的委員會沒有在相關股息支付日期之前的任何股息期間宣佈P系列優先股的股息,該股息將不會產生,本公司將沒有義務在相關股息支付日期或未來任何時間支付該股息期間的股息,而持有人也無權收取該股息期間的股息,無論是否宣佈了P系列優先股或任何其他系列優先股或普通股的股息。本文中提及的股息“應計”僅指確定股息的數額,並不意味著在宣佈股息之日之前產生任何股息權利。
派息的優先次序

。如本文針對Q系列優先股所使用的:

適當的聯盟銀行機構指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中所定義的與本公司有關的“適當的聯盟銀行機構”。), 董事會“具有上述演奏會中所闡述的含義。) 營運日) 計算代理

[“指以Q系列優先股及其繼承人和受讓人的計算代理身分行事的轉讓代理。普通股

“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。

保存人




“指DTC或其代名人或本公司委任的任何繼任託管人。紅利發放日
“應具有本協定第4(A)節規定的含義。

紅利期

“應具有本協定第4(A)節規定的含義。
股息記錄日期
“應具有本協定第4(A)節規定的含義。

直接轉矩

任何州或哥倫比亞特區,並且是美國聯盟所得稅的公司(或者,如果該實體不是公司,則公司具有

收到在此類事項方面經驗豐富的國家公認律師的意見,其大意是:(I)在此類合併或合併之後,持有者將因美國聯盟所得稅的目的,以與此類合併或合併前Q系列優先股相同的方式,同時或以其他相同的方式,就該等新的優先證券繳納稅款);及(Ii)該等Q系列未償還優先股或此類優先證券(視屬何情況而定)具有的權利、優先股、特權及投票權,作為一個整體而言,對持有人的利益並不比上述權利、優先股、整體來看,Q系列優先股的特權和投票權;

但前提

任何股東都無權因本第7條的規定而對此類增發、創設或發行進行投票。倘若本第7(C)條規定的任何修訂、更改、廢除、換股、重新分類、合併或合併將對Q系列優先股但不是本公司所有系列優先股產生不利影響,則只有受到不利影響並有權就此事投票的該系列優先股才可就該事項與Q系列優先股作為一個單一類別(取代所有其他系列優先股)一起投票,以達到本第7(C)條所要求的投票或同意的目的。如果贖回,則投反對票

。根據第7(B)或7(C)節,倘於須就投票或同意作出行動時或之前,本公司應已贖回或已要求贖回所有Q系列優先股已發行股份,並已發出適當通知及已就該等贖回預留足夠資金,則根據第7(B)或7(C)節,本公司應已贖回或已要求贖回Q系列優先股的所有已發行股份,並已根據上文第(6)節就上述各項預留足夠資金。
持有者不應因本協定條款而享有任何優先購買權或轉換權。
第9節.職級


為免生疑問,董事會或董事會任何正式授權的委員會可不經股東表決授權增發Junior股票
在支付股息或在本公司任何自願或非自願清盤、解散或清盤時與Q系列優先股具有同等地位的本公司現有或以後授權的任何類別或系列股票的一種或多種股票。




第10節.重新獲得的股份

董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的Q系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。

第11條.無償債基金

Q系列優先股的股票不受償債基金運作的約束。
第12節轉賬代理人、計算代理人、登記官及付款代理人
但前提




,公司應指定一名繼任轉讓代理人,該代理人應在該項免職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。

[標題]

性和

[標題]

_日。

花旗集團

作者:_

________________________________________________________________

________________________________________________________________

姓名:
________________________________________________________________

________________________________________________________________

標題:

________________________________________________________________

作者:_

姓名:
標題:
註冊人的反簽名
這些是上述指定證書中提及的Q系列優先股的股份。

日期:







CLARTERSHARE TRUSt Company,NA,為書記官長

作者:_

姓名:

標題:

證書的逆轉

Q系列優先股的每股股息應按照指定證書中規定的費率支付。 此外,Q系列優先股的股份可由本公司選擇以指定證書所載方式及條款贖回。



本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。

作業

根據收到的價值,簽署人將所證明的Q系列優先股的股份轉讓和轉讓給:

(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)並不可撤銷地任命:

作為代理人轉讓Q系列優先股的股份,現在轉讓代理人的賬簿上予以證明。代理人可以由他人代為代理。
日期:簽名:
(與您的名字在本證書的另一面完全相同)簽名保證:___________________________________________________
(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)授權證書







6.125固定利率/浮動利率非累積優先股系列R

花旗集團

依據《條例》第103(F)及151條

德拉瓦州一般公司法

花旗集團

,特拉華州一家公司(“本公司”)特此證明:

經修訂的公司註冊證書(“公司註冊證書”)將公司有權發行的各類股本的股份總數定為60億股(6,000,000,000股)普通股,每股面值0.01美元,以及3,000萬股(30,000,000股)優先股,每股面值1美元。

公司註冊證書明確授權本公司董事會(“董事會”)就發行系列優先股股份作出規定,並不時釐定每個該等系列的股份數目,以及釐定每個該等系列股份的名稱、權力、優惠及權利及其資格、限制或限制。根據授予優先股委員會的權力(“, 2011.




“)經董事會批准,優先股委員會於2015年11月5日正式採取行動,通過決議(I)授權發行和出售至多60,000股本公司的優先股,以及(Ii)批准本最終形式的R系列固定利率/浮動利率非累積優先股6.125%的指定證書(


R系列優先股
“)確定納入本R系列優先股的股票數量,並確定本R系列優先股的指定、權力、優先股和權利及其資格、限制或限制如下:第1節.指定
優先股系列的名稱應為“6.125固定利率/浮動利率非累積優先股,R系列”(“R系列優先股”)。第二節股份數量
R系列優先股的授權股數為60,000股。該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會通過進一步決議案,並根據特拉華州公司法的規定提交證書,述明有關增加或減少(視情況而定),以增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的R系列優先股的股份數目)。本公司有權發行R系列優先股的零碎股份。第3節.定義






適當的聯盟銀行機構

指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中所定義的與本公司有關的“適當的聯盟銀行機構”。
董事會

“具有上述演奏會中所闡述的含義。

營運日



公司現有或以後授權的R系列優先股
在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。



倫敦銀行同業拆借利率確定日期“指緊接有關股息期首日之前的第二個倫敦銀行日。

倫敦銀行日

“指商業銀行在倫敦營業的任何一天(包括美元存款交易)。

不付款“應具有本協定第7(B)(I)節規定的含義。“指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。

“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。

優先股董事

“應具有本協定第7(B)(I)節規定的含義。

優先股董事終止日期

“應具有本協定第7(B)(4)節所規定的含義。書記官長

監管資本事件

“指本公司真誠地決定,由於(I)對R系列優先股的任何股份首次發行後頒佈或生效的美國法律或法規或美國的任何政治分區的任何修訂、澄清或更改,(Ii)在R系列優先股的任何股份首次發行後宣佈或生效的該等法律或法規的任何擬議更改,或(Iii)在R系列優先股的任何股票首次發行後宣佈的解釋或實施與此相關的法律或法規或政策的任何官方行政決定或司法決定或行政行動或其他官方聲明,公司將有權根據當時有效和適用的美聯儲資本充足率指導方針(或如適用,任何後續適當的聯盟銀行機構的資本充足率指導方針或法規)的目的,將當時有效並適用的R系列優先股每股25,000美元的全額清算優先股金額視為“一級資本”(或其等價物),這是一種微不足道的風險。只要R系列優先股的任何股份都是流通股。表現出




形式6.125%固定利率/浮動利率非累積優先股,R系列

股票編號:_。CUSIP編號:

花旗集團6.125%固定利率/浮動利率非累積優先股,R系列

(每股面值1.00美元)(清算優先權為每股25,000美元)

花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定的6.125%固定利率/浮動利率非累積優先股R系列的[]繳足股款和不可評估股份的登記所有者,每股面值1.00美元,清算優先權為每股25,000美元(“R系列優先股”)。R系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。在此陳述的R系列優先股的名稱、權利、特權、限制、優先及其他條款和條款在各方面均受日期為2015年11月12日的指定證書的規定所規限,該指定證書可能會不時修訂(下稱“指定證書”)。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。茲參考本文背面所列R系列優先股的選擇條款和指定證書,該選擇條款和指定證書在所有目的中應具有與此地所述相同的效力。

持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。除非註冊處已適當會籤,否則該等R系列優先股股份將無權根據指定證書享有任何利益,亦不得就任何目的而具有效力或義務。

本證書由公司代表公司簽署,特此為證[標題]

並通過它的[標題]

_年_月_日。花旗集團。

由:_6.250%固定利率/浮動利率非累積優先股,T系列

股票編號:_。CUSIP編號:

花旗集團6.250%固定利率/浮動利率非累積優先股,T系列

(每股面值1.00美元)

花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定的6.250%固定利率/浮動利率非累積優先股t系列的[]繳足股款及不可評估股份的登記擁有人,每股面值1.00美元,清算優先權每股25,000美元(“t系列優先股”)。T系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。在此陳述的t系列優先股的名稱、權利、特權、限制、優先及其他條款和條款,在各方面均受日期為2016年4月22日的指定證書的規定所規限,該指定證書的規定可能會不時修訂(“指定證書”)。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。特此參考本文背面列出的T系列優先股的選擇條款和指定證書,其中選擇的條款和指定證書在所有目的中應具有與此地所述相同的效力。

持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。除非註冊處已適當會籤,否則該等t系列優先股股份將無權根據指定證書享有任何利益,亦不得就任何目的而具有效力或義務。

本證書由公司代表公司簽署,特此為證[標題]

[標題]

_年_月_日。花旗集團。




由:_姓名:

標題:基準更換日期

“應具有本協定第4(A)節規定的含義。基準過渡活動

“應具有本協定第4(A)節規定的含義。董事會

“具有上述演奏會中所闡述的含義。工作日

“,包括固定利率期間,是指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。營運日 就浮動利率而言,指的是非紐約市國定假日的任何工作日,也不是法律或法規授權或要求紐約市的銀行機構關閉的日子,也不是美國政府證券營業日。

計算代理指花旗銀行倫敦分行及其繼承人和受讓人。

普通股“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。

相應的男高音

“應具有本協定第4(A)節規定的含義。保存人“指DTC或其代名人或本公司委任的任何繼任託管人。股息支付日期



“應具有本協定第4(A)節規定的含義。紅利期「應具有本文第4(a)條規定的含義。股息期結束日期「應具有本文第4(a)條規定的含義。股息記錄日期「應具有本文第4(a)條規定的含義。

直接轉矩」是指存管信託公司。

固定費率期間「應具有本文第4(a)條規定的含義。 浮動利率期

「應具有本文第4(a)條規定的含義。

保持器

「是指以其名義登記U系列優先股股份的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為U系列優先股股份的絕對所有者,以付款和所有其他目的。

ISDA

「應具有本文第4(a)條規定的含義。

ISDA定義

「應具有本文第4(a)條規定的含義。

ISDA後備調整



「應具有本文第4(a)條規定的含義。

參考時間

“應具有本協定第4(A)節規定的含義。

書記官長“指以U系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。監管資本事件

“指本公司真誠地決定,由於(I)對美國的法律或法規(為免生疑問,包括美國的任何機構或機構,包括美聯儲和其他聯盟銀行監管機構)或美國的任何政治分支的任何修訂、澄清或更改,而該等法律或法規是在U系列優先股的任何股份首次發行後頒佈或生效的,(Ii)該等法律或法規的任何擬議更改是在U系列優先股的任何股份首次發行後宣佈或生效的,或(Iii)在任何U系列優先股股票首次發行後宣佈的解釋或實施與之相關的法律或法規或政策的任何官方行政決定或司法決定或行政行動或其他官方聲明,公司將有權根據當時有效和適用的美聯儲資本充足率指導方針(或任何後續適當的聯盟銀行機構的資本充足率指導方針或法規)的目的,將當時已發行的U系列優先股每股25,000美元的全部清算優先股金額視為“一級資本”(或其等價物),這是一種微不足道的風險。只要U系列優先股的任何股份都是流通股。相關政府機構

“應具有本協定第4(A)節規定的含義。U系列清算優先權

“應具有本協定第5(A)節規定的含義。

U系列優先股“應具有本協定第一節所規定的含義。

U系列優先股證書“應具有本協定第14(A)節規定的含義。

SOFR

“應具有本協定第4(A)節規定的含義。

轉移劑




指北卡羅來納州的ComputerShare Trust Company,這是一個聯盟特許的全國性協會,擔任U系列優先股及其繼承人和受讓人的轉讓代理、註冊人和支付代理。

信任

“應具有第6(D)節所給出的含義。

(c)未經調整的基準替換“應具有本協定第4(A)節規定的含義。

(d)美國政府證券營運日“應具有本協定第4(A)節規定的含義。第四節分紅

。當董事會或其任何正式授權的委員會宣佈時,持有人應有權從合法可用資金中獲得以下第4節規定的金額的U系列優先股每股非累積現金股息,並且不超過:(I)自2020年3月12日起每半年3月12日和9月12日支付一次,自發行之日起至2024年9月12日(包括但不包括2024年9月12日)(“

(a)固定費率期間然而,前提是

(b)

(i)浮動利率期“)(每個股息支付日期,一個”股息支付日期“)。“股息期結束日期”是指12 每年3月、6月、9月和12月;但前提如任何股息期結束日期(贖回日期除外)並非營業日,則該日期將延至下一個營業日,除非該日適逢下一個歷月,在此情況下,股息期結束日期將為緊接前一個營業日。在固定利率期間,“股息期”是指從每個股息支付日起至下一個股息支付日(但不包括下一個股息支付日)的期間,但不包括初始股息期,即優先股發行之日起至第一個股息支付日(但不包括在內)的期間。在浮動利率期間,“股息期”是指從每個股息期結束日起(包括每個股息期結束日在內)的期間(浮動利率期內的首個股息期除外,“股息期”是指從2024年9月12日起至下一個股息期結束日(但不包括該日)的期間;




(ii)提供

(iii)如果進一步提供從兌換率截止日期開始(包括兌換日在內,但不包括兌換日)的每個日曆日的SOFR(定義見下文)就兌換率截止日期而言將等於SOFR。利率下調日期將是贖回日期之前的第二個美國政府證券營業日。

(iv)     如果上述(1)中指定的利率沒有出現,除非發生了基準過渡事件及其相關的基準更換日期,否則為紐約聯盟儲備銀行網站上公佈的前一個美國政府證券營業日的有擔保隔夜融資利率,其中有擔保隔夜融資利率在紐約聯盟儲備銀行的網站;或如果基準轉換事件及其相關基準替換日期在相關股息期結束日期之前發生的優先股,計算代理將使用基準重置來確定利率並用於與優先股相關的所有其他目的。

(c)     關於上述SOFR定義,適用以下定義:“基準”最初是指SOFR;




提供

如果就SOFR或當時的基準發生了基準轉換事件及其相關基準替換日期,則“基準”是指適用的基準替換。 “基準替換”是指在基準替換日期之前,公司(或其關聯公司之一)可以確定的以下訂單中列出的第一個備選方案:

(A)所選擇或建議的替代利率:

有關政府機構取代當時適用的相應基準點的基準和(B)基準點替換調整;或(A)ISDA回退率和(B)基準替代率之和

調整;或

(d)     (A)本公司(或其一間聯屬公司)選擇替代當時適用相應期限基準利率的替代利率,並適當考慮任何業界認可的利率,以取代當時以美元計價的浮動利率票據的現行基準利率及(B)基準替換調整。“基準替換調整”是指在基準替換日期之前,公司(或其關聯公司之一)可以確定的以下訂單中列出的第一個備選方案:

價差調整,或計算或確定這種價差的方法

相關政府機構為適用的未調整基準替代選擇或建議的調整數(可以是正值、負值或零);

如果適用的未調整基準替換相當於ISDA

後退率,然後是ISDA後備調整;

具有以下值的價差調整(可以是正值、負值或零




基準管理人宣佈基準不再具有代表性。

相應的男高音

“就基準更換而言,指與當時基準的適用期限大致相同(不計營業日調整)的期限(包括隔夜)。

ISDA

“指國際掉期和衍生工具協會,Inc.或任何繼任者。ISDA定義“指由國際掉期及衍生工具協會或其任何後繼機構不時修訂或補充的2006年ISDA定義,或不時出版的任何後繼利率衍生工具定義手冊。

ISDA後備調整

“指將適用於參考ISDA定義的衍生品交易的利差調整(可以是正值或負值或零),將在相對於適用基期基準的指數停止事件發生時確定。

ISDA回退率

(a) “指適用於參考ISDA定義的衍生品交易的利率,在指數停止日期發生時,相對於不包括適用的ISDA後備調整的適用期限的基準生效。紐約聯盟儲備銀行的網站費率截止日

(b)“指贖回日期前的第二個美國政府證券營業日。參考時間

“就基準的任何確定而言,指本公司(或其關聯公司之一)根據基準重置而確定的符合變更的時間。

相關政府機構“指美國聯盟儲備委員會和/或紐約聯盟儲備銀行,或由聯盟儲備委員會和/或紐約聯盟儲備銀行或其任何後續機構正式認可或召集的委員會。未經調整的基準替換

信任“)為被要求贖回的股份持有人按比例受益,則即使任何被要求贖回的股份的任何股票尚未交回註銷,但在贖回日期當日及之後,所有被要求贖回的股份將停止發行,與該等股份有關的所有股息將於該贖回日期停止應計,而有關該等股份的所有權利將於該贖回日期立即終止及終止,惟其持有人於贖回日期後任何時間從如此存放的資金中收取贖回應付款項的權利除外。本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。於贖回日期起計三年屆滿時,任何如此繳存而無人認領的資金,須在法律許可的範圍內發放或償還予本公司,如已向本公司償還該等款項,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,金額相當於上文所述為贖回該等股份而繳存並已償還予本公司的款項,但在任何情況下均無權獲得任何利息。

一般

除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。



特別投票權


。如果及每當U系列優先股或任何其他類別或系列優先股的股息在支付股息方面與U系列優先股平價,且已授予並可行使與本條第7(B)(I)條所授投票權相等的投票權(此處稱為“股息平價股票”)時,就任何類別或系列而言,就任何類別或系列而言,至少三個半年度或六個季度股息期(不論是否連續)(a“




不付款“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是優先股董事

選舉
。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。在根據上文第7(B)(I)條賦予特別投票權後的任何時間,公司祕書可應U系列優先股至少20%的投票權持有人或當時已發行的任何系列股息平價股票至少20%的投票權的持有人(該等投票權是根據選舉優先股董事的投票權衡量)的書面要求(致予公司主要辦事處的祕書),U系列優先股及任何股息平價股的股東必須(除非在本公司下屆股東周年大會或特別大會日期前少於90天收到有關要求,而在此情況下,有關選舉須在該下一屆股東周年大會或特別大會上舉行),以選舉優先股董事。優先股董事每人每董事有權就任何事宜投一票。特別會議通知
。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書沒有於收到任何該等要求後20天內召開特別大會,則任何持有人均可(費用由本公司負擔)於本條第7(B)(Iii)條所規定的通知下召開該大會,並為此將可查閱本公司的股票登記冊。在任何該等特別會議上選出的優先股董事及在隨後舉行的股東周年大會或特別會議上選出的每股優先股董事,其任期將於優先股董事終止日期及該優先股董事獲選後的下一次股東周年大會(以較早者為準)屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由在任的優先股董事填補,或如無在任的優先股董事,則由U系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。優先股董事只能由U系列優先股和股息平價股的持有人根據本第7條選出。如果U系列優先股和股息平價股的持有人未能選出足夠數量的董事來填補根據本第7條他們有權選舉董事的所有董事職位,則任何未如此填補的董事職位將保持空缺,直到U系列優先股和股息平價股的持有人根據本第7條推選一人填補該董事職位,或該空缺按照本第7條以其他方式填補;除依照本第7條的規定外,公司的股東不得擔任任何董事職務。
終止;移走每當本公司在U系列優先股和任何有權獲得非累積股息的股息平價股票未支付股息後,至少連續兩個半年度或連續四個季度股息期間全額支付非累積股息,並已就任何有權獲得累積股息的股息平價股票全額支付累計股息,則持有人選舉優先股董事的權利將停止(但始終受關於未來股息期間任何類似不支付股息的特別投票權歸屬的相同規定的規限)(在停止時,“






優先股董事終止日期
“)。在優先股董事終止之日,優先股董事的任期將立即終止,當時擔任優先股董事的人員將立即不再具有擔任優先股董事的資格,優先股董事將不再擔任本公司董事,組成董事會的董事人數將自動減少,減去緊接該終止日期之前授權的優先股董事人數,而無需董事會或本公司股東採取任何行動。任何優先股董事均可由當時有權在優先股董事選舉中投票的股本流通股過半數投票權的持有人在任何時間無故取消,並作為一個類別一起投票(該投票權根據選舉優先股董事的投票權衡量)。

除非註冊官已適當副署,否則U系列優先股的這些股份無權享受指定證書項下的任何利益,也不得出於任何目的有效或具有強制性。特此證明,本證書已由其代表公司簽署
[標題]

性和

[標題]
_日。
花旗集團

作者:_

姓名:

標題:

作者:_

姓名:標題:註冊人的反簽名 這些是上述指定證書中提及的U系列優先股的股份。日期:    CLARTERSHARE TRUSt Company,NA,為書記官長

作者:_
姓名:
標題:
此外,U系列優先股每股的股息應按指定證書中規定的利率支付。
此外,U系列優先股的股份可由本公司選擇以指定證書所載方式及條款贖回。
本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。





根據收到的價值,簽署人將所證明的U系列優先股的股份轉讓和轉讓給:

(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)

(填寫受讓人地址和郵遞區號)
並不可撤銷地任命:
日期:




簽名:

(與您的名字在本證書的另一面完全相同)

簽名保證:___________________________________________________

(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)

退休證書

優先股的比例



花旗集團的名字。



(根據《總則》第243條
特拉華州公司法)



基準更換調整

“應具有本協定第4(A)節規定的含義。
基準更換符合性變化

“應具有本協定第4(A)節規定的含義。

基準更換日期

“應具有本協定第4(A)節規定的含義。



                                                            

基準過渡活動

“應具有本協定第4(A)節規定的含義。

董事會
“具有上述演奏會中所闡述的含義。

工作日

“,包括固定利率期間,是指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。

______________________________
營運日
關於浮動利率期間,指的是不是紐約市國定假日的任何工作日,也不是紐約市的銀行機構
______________________________

法律或法規授權或要求關閉,以及美國政府證券營業日。計算代理


普通股

“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。相應的男高音「應具有本文第4(a)條規定的含義。保存人「指DTC或其提名人或公司指定的任何繼任託管人。

紅利發放日.

「應具有本文第4(a)條規定的含義。

紅利期.

「應具有本文第4(a)條規定的含義。

股息期結束日期「應具有本文第4(a)條規定的含義。




股息記錄日期「應具有本文第4(a)條規定的含義。
直接轉矩」是指存管信託公司。
固定費率期間「應具有本文第4(a)條規定的含義。
浮動利率期「應具有本文第4(a)條規定的含義。
保持器「指以其名義登記系列V優先股股份的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為系列V優先股股份的絕對所有者,以支付付款和所有其他目的。
ISDA“應具有本協定第4(A)節規定的含義。
ISDA定義“應具有本協定第4(A)節規定的含義。
ISDA後備調整“應具有本協定第4(A)節規定的含義。
ISDA回退率“應具有本協定第4(A)節規定的含義。
初級股“指普通股和任何其他類別或系列的股票
現在或以後授權的公司擁有哪些系列V優先股在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。
不付款“應具有本協定第7(B)(I)節規定的含義。
紐約聯盟儲備銀行的網站“應具有本協定第4(A)節規定的含義。
“指首席執行官、主席、首席行政官、任何副主席、首席財務官、主計長、首席會計
本公司的高級職員、財務主管、任何副財務主管、任何助理財務主管、任何副總裁、總法律顧問兼公司祕書以及任何助理祕書。
“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。由:_
姓名:標題:
由:_姓名:
標題:司法常務官會籤
這些股票是上述指定證書中所指的V系列優先股。日期:
ComputerShare Trust Company,N.A.為註冊處處長由:_
姓名:標題:



"證書的反轉*第五系列優先股的每股股息應按指定證書中規定的利率支付。
*根據指定證書所載條款,第V系列優先股的股份可由本公司選擇按指定方式及條款贖回。本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。
作業根據收到的價值,簽署人將第五系列優先股的股份轉讓和轉讓給:
(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)
並不可撤銷地任命:作為代理人轉讓轉讓代理賬簿上所證明的V系列優先股股份。代理人可以由他人代為代理。
日期:簽名:

(與您的名字在本證書的另一面完全相同).

簽名保證:___________________________________________________(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)退休證書優先股的比例花旗集團的名字。(根據《總則》第243條特拉華州公司法)花旗集團是根據特拉華州《公司法》正式成立並存續的公司,茲證明如下:第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行60,000股5.875%固定利率/浮動利率非累積O系列優先股(“O系列優先股”),每股面值1.00美元,每股聲明價值25,000美元。第二:花旗集團已經註銷了優先股系列O的所有授權股份。第三:根據特拉華州公司法第243條的規定,指定為優先股O系列的股份將恢復花旗集團優先股的授權但未發行股份的狀態。
特此作證,花旗集團。已促使本證書於2020年3月31日由以下正式授權的助理司庫簽署。花旗集團通過



:/S/艾麗莎·斯坦伯格_

(c)     艾麗莎·斯坦伯格助理司庫
授權證書


4.000%固定利率重置非累積優先股系列W


花旗集團

根據《聯合國憲章》第151條

德拉瓦州一般公司法
花旗集團。
,特拉華州一家公司(“本公司”)特此證明:
.

2.公司註冊證書明確授予本公司董事會(“董事會”)權力,規定發行系列優先股股票,並不時確定每個此類系列股票將包括的股份數量,以及確定每個此類系列股票的名稱、權力、優先股和權利及其資格、限制或限制。優先股委員會



“)經董事會批准,優先股委員會於2020年12月3日正式採取行動,通過決議(I)授權發行和出售至多60,000股本公司的優先股,以及(Ii)批准本指定證書的最終格式為4.000固定利率重置W系列非累積優先股(”“),確定納入本W系列優先股的股票數量,並確定本W系列優先股的指定、權力、優先股和權利及其資格、限制或限制如下:

(c)     第1節.指定

第二節股份數量.

該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會正式通過的進一步決議案,以及根據特拉華州公司法的規定提交證書,述明該項增加或減少(視乎情況而定)而不時增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的W系列優先股的股份數目)。第3節.定義。如本文針對W系列優先股所使用的:

適當的聯盟銀行機構指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中定義的與公司有關的“適當的聯盟銀行機構”。董事會

“具有上述演奏會中所闡述的含義。

工作日

“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。

計算代理

“指以計算代理身分行事的轉移代理

用於W系列優先股及其繼承人和受讓人。

(c)     普通股“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。

(d)     保存人“指DTC或其代名人或本公司委任的任何繼任託管人。



股息支付日期“應具有本協定第4(A)節規定的含義。紅利期



“應具有本協定第4(A)節規定的含義。.

股息記錄日期“應具有本協定第4(A)節規定的含義。. 直接轉矩

」是指存管信託公司。首次重置日期.

(i)     “應具有本協定第4(A)節規定的含義。保持器「是指以其名義登記W系列優先股股份的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為W系列優先股股份的絕對所有者,以付款和所有其他目的。初級股“指普通股及任何其他類別或系列的.”

(ii)     W系列優先股現已存在或以後授權的公司在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。

(iii)     不付款“應具有本協定第7(B)(I)節規定的含義。



紐約聯盟儲備銀行的網站

(iv)     “應具有本協定第4(A)節規定的含義。. “指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。
(c)     “是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。優先股董事

“應具有本協定第7(B)(I)節規定的含義。

優先股董事終止日期

“應具有本協定第7(B)(4)節所規定的含義。



書記官長
監管資本事件
只要W系列優先股的任何股份是流通股。
(d)相關政府機構“應具有本協定第4(A)節規定的含義。

重置日期.


重置股利確定日期.

“就任何重置期間而言,指該重置期間開始前三個營業日的日期。




重置週期.

“指從每個重置日期開始幷包括到下一個後續重置日期但不包括在內的期間,不包括初始重置期間,這將是從第一個重置日期開始幷包括第一個重置日期到下一個後續重置日期但不包括在內的期間。

W系列清算優先權.

“應具有本協定第5(A)節規定的含義。

W系列優先股.

“應具有本協定第一節所規定的含義。“應具有本協定第14(A)節規定的含義。

轉移劑.


信任.

“應具有第6(D)節所給出的含義。第四節分紅. 。當董事會或其任何正式授權的委員會宣佈時,持有者有權獲得W系列優先股每股的非累積現金股息,金額如下,且不超過於每年3月、6月、9月和12月10日(每個月、月、12月)支付的股息,但只能從合法的可用資金中獲得股息支付日期

首次重置日期. 自2021年3月10日起,(Ii)自首個重置日期起(包括首個重置日期),年利率相等於於最近重置股息決定日期(如下所述)的五年期國庫利率加上3.597%的清盤優先股每股25,000美元的季度欠款,自2026年3月10日起生效。
W系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。.

股息記錄日期“)。任何屬於股息記錄日期的該等日期,不論該日是否為營業日,均為股息記錄日期。自第一個重置日期或之後開始的任何重置期間,五年期國庫券利率將為:

(東部時間)自任何確定日期起,由計算代理全權酌情決定。在選擇替代或如本公司(或有關聯營公司)在諮詢其認為合理的任何消息來源後,可全權酌情釐定有關替代利率或後續利率的計算方法或定義,包括為使該替代利率或後續利率與五年期國庫利率相若所需的任何調整因素,而釐定的方式須與該替代利率或後續利率的任何業界認可的做法一致。



五年期國庫券利率將在每次重置股息決定日確定。.

就任何股息期而言,W系列優先股的任何股息將按360天年度計算,包括12個30天月,而“股息期”是指從每個股息支付日期起至下一個股息支付日期(但不包括)的期間,但不包括初始股息期,即W系列優先股發行日期至(但不包括)第一個股息支付日期的期間。如任何股息支付日期並非營業日,則於該日期應付的任何股息將於下一個營業日支付,且不會就任何該等延遲支付任何額外的應計股息或其他付款。

本公司(或其一間聯營公司)根據上述條文可能作出的任何決定、決定或選擇,包括有關期限、評級或調整或某事件、情況或日期的發生或不發生的任何決定,以及任何採取或不採取任何行動或任何選擇的決定,將為最終決定及具約束力,如無明顯錯誤,將由本公司(或該等聯屬公司)全權酌情作出,且即使本指定證書有任何相反規定,在未經W系列優先股持有人或任何其他方同意的情況下,仍應生效。

任何股息率計算得出的所有百分比,如有必要,將四捨五入至1%(0.0000001)的最接近的1/100,000個百分點,向上舍入百萬分之五個百分點。在W系列優先股計算中使用或計算得出的所有貨幣金額將舍入到最接近單位的百分之一。為了四捨五入,單位的.005應向上舍入。






非累積股息。如果董事會或其任何正式授權的委員會沒有在相關股息支付日期之前的任何股息期間宣佈W系列優先股的股息,該股息將不會產生,本公司將沒有義務在相關股息支付日期或未來任何時間支付該股息期間的股息,而持有人也無權收取股息,無論是否宣佈了W系列優先股或任何其他系列優先股或普通股的股息。本文中提及的股息“應計”僅指確定股息的數額,並不意味著在宣佈股息之日之前產生任何股息權利。派息的優先次序

。只要W系列優先股的任何股份仍未發行,除非在股息支付日期,W系列優先股的所有已發行股票的全部股息已經宣佈和支付,並且已為當時結束的股息期間預留了足夠支付該等股息的金額,否則本公司不會,也不會促使其子公司在下一個股息期間宣佈或支付任何股息,或作出與任何初級股票有關的任何分配,或贖回、購買、收購或支付與之有關的任何清算付款,或就此作出任何擔保支付,但以下情況除外:

(I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;
(2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;
(Iii)將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票;






(4)依據初級股票的轉換或交換條款或正在轉換或交換的證券購買該等股票的零碎權益;
(V)公司的一家投資銀行附屬公司購買與分銷有關的初級股票;或

(Vi)本公司任何投資銀行附屬公司在其日常業務過程中,就與做市或其他二級市場活動有關的事宜而購買初級股票。
本第4(C)節前述規定的限制不適用於公司支付的任何初級股票股息,如果股息的形式與支付股息的股票形式相同(或購買相同股票的權利)。

除以下規定外,只要W系列優先股的任何股份仍未支付,如果W系列優先股和公司現有或以後授權的任何類別或系列股票在支付股息方面與W系列優先股平等,則不宣佈和全額支付股息,對W系列優先股和該等其他股票宣佈的所有股息將按比例宣佈,因此每股宣佈的股息數額將與W系列優先股當時的當期股息期每股應計股息與該等其他股票(包括任何此類承擔累計股息的其他股票,則包括所有應計和未支付股息)的應計股息之間的比率相同。

任何合法可用於支付此類股息的資金到期,持有者將無權參與這些股息。
第五節清算權

清算
。如果公司發生任何自願或非自願的清算、解散或結束公司的事務,持有人有權在公司作出任何分配或支付之前,或在公司為任何初級股票持有人預留任何分派或付款之前,從合法的可用資金中,有權在清算時優先於W系列優先股或與W系列優先股平價的任何類別或系列股票的持有人的權利以及公司的存款人和其他債權人的權利下,全額獲得每股25,000美元的清算優先股金額的清算分配。
W系列清算優先權
“),加上自上次股息支付日期起至(但不包括)已宣佈但尚未支付的範圍內的清盤、解散或清盤日期的任何應計股息。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。

部分付款。如本公司的資產不足以全數支付上述向持有人支付的清算分派,以及在本公司任何自願或非自願清盤、解散或清盤時,在分配資產方面與W系列優先股平分的本公司任何類別或系列股票的持有人所欠的任何清算分派,則向持有人及所有該等同等級別股票的持有人支付的金額,將按照他們原本有權獲得的清盤分派總額按比例支付。合併、合併和出售資產,而不是清算。就本第5條而言,出售、轉易、交換或轉讓(以現金、股票、證券或其他代價換取)本公司全部或幾乎所有財產及資產,不得視為自願或非自願解散、清盤或清盤本公司事務,亦不得視為本公司與任何其他法團或人士合併、合併或任何其他業務合併交易,或任何其他法團或人士與本公司合併、合併或任何其他業務合併交易,亦不得視為自願或非自願解散、清盤或清盤本公司事務。第6款. 贖回

可選的贖回
。根據董事會或其任何正式授權的委員會的選擇,公司可以(I)在首次重置日期或之後開始的任何股息支付日期隨時全部或不時贖回W系列優先股的全部或部分股份,或(Ii)在監管資本事件發生後90天內的任何時間全部但不部分贖回W系列優先股,每次贖回價格相當於每股25,000美元加上任何已申報和未支付的股息,不累積任何未申報股息,但不包括贖回日,根據下文第6(B)節的規定發出通知。
贖回通知
。每一次贖回W系列優先股股份的通知應以預付郵資的頭等郵遞方式郵寄至將贖回該等股份的持有人,地址分別為他們在本公司股票登記冊上的最後地址。郵寄日期至少應在指定的贖回日期前5天至30天。根據本第6(B)節規定郵寄的任何通知應被最終推定為已正式發出,無論持有人是否收到該通知,但未有通過郵寄方式向指定贖回W系列優先股股份的任何持有人發出該通知,或該通知中或郵寄中的任何缺陷,並不影響贖回W系列優先股任何其他股份的程式的有效性。每份通知應說明:

(I)贖回日期;

(Iii)贖回價格;



(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及
(V)擬贖回股份的股息將於贖回日期停止累算。
儘管如上所述,如果證明W系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。

部分贖回
。如於已發行時只贖回W系列優先股的部分股份,則將予贖回的W系列優先股的股份須(I)按該等持有人所持有的W系列優先股的股份數目按比例向該等持有人選擇,(Ii)以抽籤方式或(Iii)董事會或其任何正式授權委員會可能全權酌情決定的其他方式公平及公平地選擇。在本第6節條文的規限下,董事會或董事會任何正式授權的委員會有完全權力及權力規定W系列優先股的股份不時贖回的條款及條件。
贖回的有效性
。如贖回通知已妥為發出,且如在通知所指明的贖回日期當日或之前,本公司已將贖回所需的所有資金,除其其他資產外,按比例撥出,供贖回股份持有人按比例使用,以便可繼續用作贖回,或由本公司存入董事會或其任何正式授權委員會選定的銀行或信託公司(“



信任
“)為了股份持有人的按比例利益而被要求贖回,則即使任何如此要求贖回的股份的任何股票並未交回以供註銷,在
本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。
一般
除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。
___________________________________________________
___________________________________________________
特別投票權
___________________________________________________
___________________________________________________
投票權
。如果及每當W系列優先股或任何其他類別或系列優先股的股息在支付股息方面與W系列優先股平價,且已授予並可行使與本條第7(B)(I)條所授投票權相等的投票權(任何該等類別或系列稱為“股息平價股票”)時,就任何類別或系列而言,就任何類別或系列而言,至少三個半年度或六個季度股息期(不論是否連續)(a“
___________________________________________________
___________________________________________________
不付款
“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是
優先股董事
___________________________________________________
選舉
。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。在根據上述第7(B)(I)條賦予特別投票權後的任何時間,公司祕書可應至少20%的股份持有人的書面要求(致公司主要辦事處的祕書)
W系列優先股的投票權或當時已發行的任何系列股息平價股票至少20%投票權的持有人(該投票權是根據選舉優先股董事的投票權衡量)必須(除非在本公司確定的下一次股東年會或特別會議日期前90天內收到該請求,在此情況下,該選擇應在該下一屆股東年會或特別股東大會上舉行),就選舉優先股董事的目的召開W系列優先股和任何股息平價股票的股東特別會議。優先股董事每人有權就任何事項按董事投一票。



特別會議通知

。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書在收到任何此類請求後20天內沒有召開特別會議,則任何持有人可(費用由公司承擔)在收到第7(B)(Iii)條規定的通知後召開該會議,並為此將有權訪問公司的股票登記冊。在任何該等特別會議上選出的優先股董事及在其後舉行的股東周年大會或特別大會上選出的每股優先股董事,其任期將於優先股董事獲選後的下一次股東周年大會及優先股董事終止日期(以較早者為準)屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由在任的優先股董事填補,或如無在任的優先股董事,則由W系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。優先股董事只能由W系列優先股和股息平價股的持有人根據本第7條選出。如果W系列優先股和股息平價股的持有人未能選出足夠數量的董事來填補根據本第7條他們有權選舉董事的所有董事職位,則任何未如此填補的董事職位將保持空缺,直到W系列優先股和股息平價股的持有人根據本第7條推選一人填補該董事職位,或該空缺按照本第7條以其他方式填補;除依照本第7條規定外,公司股東不得擔任任何董事職務。

終止;移走
當本公司在W系列優先股和任何有權獲得非累積股息的股息平價股票未支付股息後,至少連續兩個半年度或連續四個季度股息期間全額支付非累積股息,並已就任何有權獲得累積股息的股息平價股票全額支付累計股息,則持有人選舉優先股董事的權利將停止(但始終受關於未來股息期間任何類似不支付股息的特別投票權歸屬的相同規定的規限)(在停止時,“

優先股董事終止日期

“)。在優先股董事終止日,優先股董事的任期立即終止,當時擔任優先股董事的人立即不再具有擔任優先股董事的資格,優先股董事不再擔任本公司董事,組成董事會的董事人數自動減少,不需要董事會採取任何行動
任何優先股董事均可由當時有權在優先股董事選舉中投票的股本流通股過半數投票權的持有人在任何時間無故取消,並作為一個類別一起投票(該投票權根據選舉優先股董事的投票權衡量)。

高級發行;不利變化
。只要W系列優先股的任何股票是流通股,但在符合第7(C)節最後一段的規定下,除了特拉華州法律要求的公司股本持有人的任何其他投票或同意外,W系列優先股至少三分之二投票權的持有人和有權就此投票的任何其他優先股持有人的投票或同意、親自或委託代表在股東年度會議或特別會議上作為一個類別一起投票、或在未召開會議的情況下以書面形式進行投票,將是實施或驗證以下任何行動所必需的。無論特拉華州法律是否需要這樣的批准:

(I)對本公司的公司註冊證書(包括設立W系列優先股的指定證書)或本公司的附例的任何條文作出的任何修訂、更改或廢除,而該等條文會改變或改變W系列優先股的投票權、優先股、經濟權利或特別權利,從而對其產生不利影響;

(Iii)完成涉及W系列優先股的有約束力的換股或重新分類,或公司與另一實體的合併或合併,但W系列優先股的持有人根據本規定或根據特拉華州法律將沒有投票權,條件是在以下情況下:(I)W系列優先股仍未發行,或在任何此類合併或合併的情況下,轉換或交換尚存或產生的實體或其最終母公司的優先證券,該實體或其最終母公司是根據美利堅合眾國法律組織和存在的實體,視具體情況而定,擁有的權利、優先權、特權和投票權,從整體上看,對持有人的有利程度不低於W系列優先股的權利、優先權、特權和投票權;

但前提,為免生疑問,授權或發行的W系列優先股或授權優先股或任何證券的金額的任何增加

倘若本第7(C)條規定的任何修訂、更改、廢除、換股、重新分類、合併或合併將對本公司一個或多個但不是所有優先股系列產生不利影響,則只有受該事項不利影響並有權就該事項投票的該等優先股系列才可就該事項與W系列優先股作為一個單一類別(代替所有其他系列優先股)進行表決,以達到本第7(C)條所要求的投票或同意的目的。

如果贖回,則投反對票



第8節.優先購買權和轉換權

持有者不應因本協定條款而享有任何優先購買權或轉換權。第9節.職級
為免生疑問,董事會或其任何正式授權委員會可不經持有人投票而授權及發行額外的初級股票或本公司現有或以後獲授權的任何類別或系列股票的股份,而該等股份在支付股息或在本公司任何自願或非自願清盤、解散或清盤時與W系列優先股同等。第10節.重新獲得的股份

董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的W系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。





第11小節. 無償債基金





第12條轉賬代理人、計算代理人、登記官及付款代理人W系列優先股的正式指定轉讓代理人、計算代理人、註冊人和支付代理人應為ComputerShare Trust Company,N.A.公司可根據公司與轉讓代理人之間的協定,全權酌情解除轉讓代理人和/或計算代理人的職務;
但前提
,公司應指定一名繼任者轉讓代理人和/或計算代理人,該代理人應在該項免職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。
    
如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。




第14條.表格

W系列優先股股票

W系列優先股應以證書形式發行,其形式基本上與附件A(每個,a)的形式相同。

W系列優先股證書

“)。附件A特此併入並明確成為本指定證書的一部分。

______________________________
簽名
兩名高級職員應根據公司章程和適用法律,以手工或傳真方式簽署公司的任何W系列優先股證書。如果在W系列優先股證書上簽字的高級職員在轉讓代理會籤W系列優先股證書時不再擔任該職位,則該W系列優先股證書仍然有效。在轉讓代理的授權簽字人手動加簽W系列優先股證書之前,W系列優先股證書無效。每張W系列優先股證書的日期應為其會籤日期。
______________________________

第15節.稅收轉讓稅

。公司應支付與發行或交付W系列優先股股票有關的任何和所有股票轉讓、單據、印花稅和類似稅款。然而,本公司無須就發行或交付W系列優先股股份所涉及的任何轉讓(W系列優先股股份的登記名稱除外),或就支付予任何人的任何付款(付款予該優先股的登記持有人除外)繳付任何該等稅款,亦無須支付任何該等發行、交付或付款,除非與直至以其他方式有權獲得該等發行、交付或付款的人士已向本公司支付任何該等稅款的款額,或已確立令本公司滿意的款額,該等稅項已繳付或無須繳付。

扣繳

。對W系列優先股股票的所有支付和分配(或被視為分配)應在法律要求的範圍內預扣和備用預扣稅款,但須遵守適用的豁免,如果有預扣金額,應視為已由持有人收到。本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發出),並預付郵資:(I)如寄往本公司,則寄往其位於紐約紐約格林威治街388號的辦公室(注意:公司祕書)或寄往馬薩諸塞州02021羅亞爾街150Royall Street的辦公室,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿所載該持有人的地址(可能包括轉讓代理的記錄)或(Iii)本公司或任何該等持有人(視情況而定)以類似方式發出的通知所指定的其他地址。第17條放棄的其他權利。W系列優先股的股份並無投票權、優先權或相對、參與、選擇或其他特別權利,或其資格、限制或限制,但本文件或本公司註冊證書所載者除外。

.

花旗集團。
作者:



/S/Michael Verdeschi_姓名:邁克爾·弗德斯基頭銜:財務主管
表現出


4.000%固定利率重置非累積優先股表格,系列W.

股票編號_W系列優先股股數_

CUSIP編號:花旗集團

4.000%固定利率重置非累積優先股,W系列(每股面值1.00美元)(清算優先權每股25,000美元)
花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定的4.000%固定利率重置非累積優先股W系列(“W系列優先股”)(面值每股1美元,清算優先股每股25,000美元)[]已繳足股款及免稅股份的登記擁有人。W系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。在此陳述的W系列優先股的名稱、權利、特權、限制、優先及其他條款和條款,在各方面均受日期為2020年12月9日的指定證書的規定所規限,該指定證書可能會不時修訂(下稱“指定證書”)。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。茲參考本文背面所列W系列優先股的精選條款和指定證書,其中精選條款和指定證書在所有目的中應具有與此地所述相同的效力。
持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。除非註冊處已適當會籤,否則該等W系列優先股股份將無權根據指定證書享有任何利益,亦不得就任何目的而具有效力或義務。
本證書由公司代表公司簽署,特此為證[標題]
並通過它的[標題]
_年_月_日。花旗集團。
由:_名稱:標題:由:_名稱:標題:
司法常務官會籤這些股票是上述指定證書中所指的W系列優先股。
日期: ComputerShare Trust Company,N.A.為註冊處處長
由:_名稱:標題:證書的反轉
W系列優先股的每股股息應按指定證書中規定的比率支付。W系列優先股的股票可根據公司的選擇,按照指定證書中規定的方式和條款進行贖回。



本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。作業
對於收到的價值,以下簽署人將特此證明的W系列優先股股份轉讓並轉讓給:(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)
(填寫受讓人地址和郵遞區號)並不可撤銷地任命:
作為轉讓W系列優先股股份的代理人,特此在轉讓代理人的帳簿上證明。 代理人可以代替他人代理。日期:
簽名:(與您的名字在本證書的另一面完全相同)
簽名保證:___________________________________________________(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)
授權證書
3.875%固定利率恢復非創造性庫存X系列
"花旗集團根據《聯合國憲章》第151條
德拉瓦州一般公司法 花旗集團
,特拉華州一家公司(“本公司”)特此證明:
2.公司註冊證書明確授予本公司董事會(“董事會”)權力,規定發行系列優先股股票,並不時確定每個此類系列股票將包括的股份數量,以及確定每個此類系列股票的名稱、權力、優先股和權利及其資格、限制或限制。3.根據賦予優先股委員會的權力(“
優先股委員會“)經董事會批准,優先股委員會於2021年2月10日正式採取行動,通過決議(I)授權發行和出售至多92,000股本公司優先股,以及(Ii)批准本指定證書的最終格式為3.875固定利率重置非累積優先股,X系列(”




X系列優先股.

(a) “),確定納入本X系列優先股的股票數量,並確定本X系列優先股的指定、權力、優先股和權利及其資格、限制或限制如下:第1節.指定優先股系列的名稱應為“3.875固定利率重置非累積優先股,X系列”。X系列優先股的每一股應在各方面與X系列優先股的其他每一股相同。, 第二節股份數量X系列優先股的授權股數為92,000股。公司有權發行X系列優先股的零股。第3節.定義。如本文針對X系列優先股所使用的:適當的聯盟銀行機構指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中定義的與公司有關的“適當的聯盟銀行機構”。董事會“具有上述演奏會中所闡述的含義。

(b) 工作日“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。

(c) 計算代理「指以計算代理人身份行事的轉讓代理人
X系列優先股及其繼任者和轉讓者。




普通股

“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。

保存人

“指DTC或其代名人或本公司委任的任何繼任託管人。

股息支付日期

“應具有本協定第4(A)節規定的含義。
紅利期
“應具有本協定第4(A)節規定的含義。




股息記錄日期.

(a) “應具有本協定第4(A)節規定的含義。直接轉矩」是指存管信託公司。首次重置日期
(b) “應具有本協定第4(A)節規定的含義。保持器

(d) 「是指以其名義登記X系列優先股股份的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為X系列優先股股份的絕對所有者,以付款和所有其他目的。初級股

“指普通股及任何其他類別或系列的.

(a) 現已存在或今後已授權的公司X系列優先股在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。




(b) 不付款“應具有本協定第7(B)(I)節規定的含義。

紐約聯盟儲備銀行的網站

“應具有本協定第4(A)節規定的含義。


“指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。


“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。

(c) 優先股董事“應具有本協定第7(B)(I)節規定的含義。

(d) 優先股董事終止日期“應具有本協定第7(B)(4)節所規定的含義。書記官長“指以X系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。



監管資本事件


“指本公司真誠地決定,由於(I)對美國法律或法規(為免生疑問,包括美國的任何機構或機構,包括美聯儲和其他聯盟銀行監管機構)或美國的任何政治分支的任何修訂、澄清或更改,而該等法律或法規是在X系列優先股的任何股份首次發行後頒佈或生效的,(Ii)該等法律或法規的任何擬議更改是在X系列優先股的任何股份首次發行後宣佈或生效的,或(Iii)在X系列優先股任何股票首次發行後宣佈的解釋或實施與之相關的法律或法規或政策的任何官方行政決定或司法決定或行政行動或其他官方聲明,公司將有權根據當時有效和適用的美聯儲資本充足率指導方針(或如適用,任何後續適當的聯盟銀行機構的資本充足率指導方針或規定)將X系列優先股每股25,000美元的全部清算優先股金額視為當時有效和適用的“一級資本”(或其等價物),這是一種微不足道的風險。只要X系列優先股的任何股份都是流通股。.

(a) 相關政府機構. “應具有本協定第4(A)節規定的含義。

(b) 重置日期.

(i) 重置股利確定日期“就任何重置期間而言,指該重置期間開始前三個營業日的日期。重置週期“指從每個重置日期開始幷包括到下一個後續重置日期但不包括在內的期間,不包括初始重置期間,這將是從第一個重置日期開始幷包括第一個重置日期到下一個後續重置日期但不包括在內的期間。.”




(ii) X系列清算優先權“應具有本協定第5(A)節規定的含義。

(iii) “應具有本協定第一節所規定的含義。

(iv) . “應具有本協定第14(A)節規定的含義。



轉移劑指北卡羅來納州的ComputerShare Trust Company,這是一個聯盟特許的全國性協會,擔任X系列優先股及其繼承人和受讓人的轉讓代理、計算代理、登記處和支付代理。信任
(c) “應具有第6(D)節所給出的含義。第四節分紅


。當董事會或其任何正式授權的委員會宣佈時,持有人有權獲得X系列優先股每股的非累積現金股息,金額如下,並在每年2月、5月、8月和11月18日(每個月、月、11月)支付,但只能從合法的可用資金中獲得。

股息支付日期



),(I)自發出日期起至2026年2月18日(包括該日期)的季度欠款(包括該日期在內)
首次重置日期自2021年5月18日起,(Ii)自首個重置日期起(包括首個重置日期在內),每個重置期間的年利率相等於於最近重置股息決定日期(如下所述)的五年期國庫利率加3.417%的清盤優先股每股25,000美元,季度拖欠,自2026年5月18日開始。
X系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。
(d)股息記錄日期“)。任何屬於股息記錄日期的該等日期,不論該日是否為營業日,均為股息記錄日期。


自第一個重置日期或之後開始的任何重置期間,五年期國庫券利率將為:.

·在最近發佈的指定為H.15每日更新的統計新聞稿或任何由聯盟儲備委員會(Federal Reserve Board)截至下午5點發布的後續出版物中,交易活躍的美國國債在五個工作日內的平均收益率,調整為恆定到期日,五年期到期日的標題為“財政部恆定到期日”。(東部時間)自任何確定日期起,由計算代理全權酌情決定。




·如果沒有提供如上所述的計算,則公司(或該關聯公司)將使用其在諮詢其認為合理的任何來源後單獨酌情確定的替代利率或後續利率,該替代利率或後續利率是(I)行業公認的五年期國庫利率的替代利率或後續利率,或(Ii)如果五年期國庫利率沒有行業接受的替代利率或後續利率,即與五年期國庫利率最接近的替代利率或後續利率。在選擇替代或.

在計算替代或繼承率時,本公司(或該關聯公司)可在諮詢其認為合理的任何來源後自行決定計算替代或繼承率的天數慣例、營業日慣例、營業日的定義、重置股息決定日期以及計算替代或繼承率的任何其他相關方法或定義,包括

.


就任何股息期而言,X系列優先股的任何股息將按360天年度計算,包括12個30天月,而“股息期”是指從每個股息支付日期起至下一個股息支付日期(但不包括)的期間,但不包括初始股息期,即X系列優先股發行之日起至(但不包括)第一個股息支付日期的期間。.

本公司(或其一間聯營公司)根據上述條文可能作出的任何決定、決定或選擇,包括有關期限、評級或調整或某事件、情況或日期的發生或不發生的任何決定,以及採取或不採取任何行動或任何選擇的任何決定,將為最終決定及具約束力,且無明顯錯誤,將由本公司(或該等聯屬公司)全權酌情作出,且,即使本指定證書有任何相反規定,在未經X系列優先股持有人或任何其他方同意的情況下,將會生效。


任何股息率計算得出的所有百分比,如有必要,將四捨五入至1%(0.0000001)的最接近的1/100,000個百分點,向上舍入百萬分之五個百分點。在X系列優先股計算中使用或計算得出的所有貨幣金額將舍入到最接近單位的百分之一。為了四捨五入,單位的.005應向上舍入。.

非累積股息。如果董事會或其任何正式授權的委員會沒有在相關股息支付日期之前的任何股息期間宣佈X系列優先股的股息,該股息將不會產生,本公司將沒有義務在相關股息支付日期或未來任何時間支付該股息期間的股息,而持有人也無權收取股息,無論是否宣佈了X系列優先股或任何其他系列優先股或普通股的股息。派息的優先次序

。只要X系列優先股的任何股份仍未發行,除非關於股息支付日期,X系列優先股的所有已發行股票的全部股息已宣佈和支付,且已為當時結束的股息期預留足夠支付該等股息的款項,否則本公司.

不會,也不會導致其子公司不會在下一個後續股息期內宣布或支付任何股息,進行任何與任何初級股票相關的分配,或贖回、購買、收購或支付與任何初級股票相關的清算金,或支付任何擔保金,但以下除外:

(I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;.




(a) (2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;. (Iii)將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票;(4)依據初級股票的轉換或交換條款或正在轉換或交換的證券購買該等股票的零碎權益;(V)公司的一家投資銀行附屬公司購買與分銷有關的初級股票;或


(Vi)本公司任何投資銀行附屬公司在其日常業務過程中,就與做市或其他二級市場活動有關的事宜而購買初級股票。本第4(C)節前述規定的限制不適用於公司支付的任何初級股票股息,如果股息的形式與支付股息的股票形式相同(或購買相同股票的權利)。. 除以下規定外,只要X系列優先股的任何股份仍未支付,如果X系列優先股和公司現有或以後授權的任何類別或系列的股票在支付股息方面與X系列優先股平等,則不宣佈和全額支付股息,對X系列優先股和該等其他股票宣佈的所有股息將按比例公佈,因此,宣佈的每股股息數額將與X系列優先股當時的當期股息期每股應計股息與該等其他股票(如屬承擔累計股息的任何其他股票,則包括所有應計和未付股息)的應計股息之間的比率相同。
在不違反上述規定的情況下,董事會或其任何正式授權的委員會可能確定的以現金、股票或其他方式支付的股息,可以從合法可用於此類支付的任何資金中不時就公司任何其他類別或系列的股票宣布和支付,持有人將無權參與這些股息。.

(a) 第五節清算權清算

(b) 。如果公司發生任何自願或非自願的清算、解散或結束公司的事務,持有人有權在公司作出任何分配或支付之前,或在公司為任何初級股票持有人預留任何分派或付款之前,從合法的可用資金中,有權在清算時優先於X系列優先股或與X系列優先股平價的任何類別或系列股票的持有人的權利以及公司的存款人和其他債權人的權利下,全額獲得每股25,000美元的清算優先股金額的清算分配。X系列清算優先權
“),加上自上次股息支付日期起至(但不包括)已宣佈但尚未支付的範圍內的清盤、解散或清盤日期的任何應計股息。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。.

部分付款



。如本公司的資產不足以全數支付上述向持有人支付的清算分派,以及在本公司任何自願或非自願清盤、解散或清盤時,在分配資產方面與X系列優先股平分的本公司任何類別或系列股票的持有人所欠的任何清算分派,則向持有人及所有該等同等級別股票的持有人支付的金額,將按照他們原本有權獲得的清盤分派總額按比例支付。

合併、合併和出售資產,而不是清算

。就本第5條而言,出售、轉易、交換或轉讓(以現金、股票、證券或其他代價換取)本公司全部或幾乎所有財產及資產,不得視為自願或非自願解散、清盤或清盤本公司事務,亦不得視為本公司與任何其他法團或人士合併、合併或任何其他業務合併交易,或任何其他法團或人士與本公司合併、合併或任何其他業務合併交易,亦不得視為自願或非自願解散、清盤或清盤本公司事務。






第6款. 贖回可選的贖回。根據董事會或其任何正式授權的委員會的選擇,公司可以(I)在首次重置日期或之後開始的任何股息支付日期,隨時或不時從已發行的X系列優先股全部或部分,或(Ii)在監管資本事件發生後90天內的任何時間,以相當於每股25,000美元的贖回價格加上任何已申報和未支付的股息,贖回X系列優先股的全部或部分股份,但不包括任何未申報的股息,根據下文第6(B)節的規定發出通知。

贖回通知
郵寄日期至少應在指定的贖回日期前5天至30天。按第6(B)節規定郵寄的任何通知應被最終推定為已正式發出,不論持有人是否收到該通知,但未能以郵寄方式向指定贖回X系列優先股股份的任何持有人發出該通知,或該通知中或郵寄中的任何瑕疵,並不影響贖回X系列優先股任何其他股份的程式的有效性。每份通知應說明:
(I)贖回日期;





(Iii)贖回價格;

(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及
(V)擬贖回股份的股息將於贖回日期停止累算。

儘管如上所述,如果證明X系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。
部分贖回

。如於已發行時只贖回X系列優先股的部分股份,則將予贖回的X系列優先股股份須(I)按該等持有人所持有的X系列優先股股份數目按比例向該等持有人選擇,(Ii)以抽籤方式或(Iii)董事會或其任何正式授權委員會全權酌情決定為公平及公平的其他方式選擇。

贖回的有效性
。如贖回通知已妥為發出,且如在通知所指明的贖回日期當日或之前,本公司已將贖回所需的所有資金,除其其他資產外,按比例撥出,供贖回股份持有人按比例使用,以便可繼續用作贖回,或由本公司存入董事會或其任何正式授權委員會選定的銀行或信託公司(“
信任

“)為被要求贖回的股份的持有人按比例受益,則即使任何如此要求贖回的股份的任何股票尚未交回註銷,在贖回日期當日及之後,所有如此要求贖回的股份均停止流出,與該等股份有關的所有股息於該贖回日期停止累算,而與該等股份有關的所有權利須於該贖回日期立即停止及終止,但以下情況除外
持有人有權在贖回日期後的任何時間,從如此存入的基金中收取因贖回而應支付的款項,而不收取利息。本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。於贖回日期起計三年屆滿時,任何如此繳存而無人認領的資金,須在法律許可的範圍內發放或償還予本公司,如已向本公司償還該等款項,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,金額相當於上文所述為贖回該等股份而繳存並已償還予本公司的款項,但在任何情況下均無權獲得任何利息。
第七節投票權
一般

除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。特別投票權。如果及每當X系列優先股或任何其他類別或系列優先股的股息在支付股息方面與X系列優先股平價,且已授予並可行使與本條第7(B)(I)條所授投票權相等的投票權時(任何該等類別或系列稱為“股息平價股票”),則就任何類別或系列而言,就任何類別或系列而言,至少三個半年度或六個季度股息期(不論是否連續)(a“不付款

“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是

優先股董事
選舉
。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。

優先股董事每人有權就任何事項按董事投一票。
特別會議通知
。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書在收到任何此類請求後20天內沒有召開特別會議,則任何持有人可(費用由公司承擔)在收到第7(B)(Iii)條規定的通知後召開該會議,並為此將有權訪問公司的股票登記冊。在任何該等特別會議上選出的優先股董事及在其後舉行的股東周年大會或特別大會上選出的每股優先股董事,其任期將於優先股董事獲選後的下一次股東周年大會及優先股董事終止日期(以較早者為準)屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由在任的優先股董事填補,或如無人在任,則由X系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。除依照本第7條規定外,公司股東不得擔任任何董事職務。





終止;移走
當本公司在X系列優先股和任何有權獲得非累積股息的股息平價股票未支付股息後,至少連續兩個半年度或連續四個季度股息期間全額支付非累積股息,並已就任何有權獲得累積股息的股息平價股票全額支付累計股息時,則持有人選舉優先股董事的權利將終止(但始終受關於未來股息期間任何類似不支付股息的特別投票權歸屬的相同規定的規限)(在停止時,“
優先股董事終止日期

“)。在優先股董事終止之日,優先股董事的任期將立即終止,當時擔任優先股董事的人員將立即不再具有擔任優先股董事的資格,優先股董事將不再擔任本公司董事,組成董事會的董事人數將自動減少,減去緊接該終止日期之前授權的優先股董事人數,而無需董事會或本公司股東採取任何行動。持有董事流通股過半數投票權的股東可在沒有任何理由的情況下隨時撤換任何優先股

高級發行;不利變化
。無論特拉華州法律是否需要這樣的批准:





(I)對公司的公司註冊證書(包括設立X系列優先股的指定證書)或公司章程的任何條款的任何修訂、更改或廢除,而該等條款會改變或改變X系列優先股的投票權、優先股、經濟權利或特別權利,從而對其產生不利影響;
(Iii)完成涉及X系列優先股的有約束力的股份交換或重新分類,或公司與另一實體的合併或合併,但在以下情況下,X系列優先股的持有人根據本規定或根據特拉華州法律將沒有投票權:(I)X系列優先股仍未發行,或在任何此類合併或合併中,公司並非尚存或產生的實體,而該等合併或合併已轉換或交換為尚存或產生的實體或其最終母公司的優先證券,而該實體是根據美利堅合眾國法律組織和存在的實體,任何州或哥倫比亞特區且為美國聯盟所得稅目的的公司(或如果該實體不是公司,本公司已收到在該等事項方面經驗豐富的全國公認律師的意見,大意是,在該等合併或合併後,持有者將就該等新的優先證券以相同的金額同時或以與在該等合併或合併前的X系列優先股下的相同方式繳稅),及(Ii)該X系列優先股仍未發行或該等優先證券,視具體情況而定,擁有的權利、優先權、特權和投票權,作為一個整體,不比X系列優先股的權利、優先權、特權和投票權作為一個整體對持有者有實質性的不利影響;
但前提
,為免生疑問,任何增加或發行系列X優先股或任何可轉換為優先股的證券,或設立和發行其他系列優先股或任何可轉換為優先股的證券,或任何可轉換為與系列X優先股同等和/或低於系列X優先股的優先股的證券,
___________________________________________________
___________________________________________________
___________________________________________________
___________________________________________________
如果贖回,則投反對票
。根據第7(B)或7(C)條,倘於有關表決或同意的行為生效時或之前,本公司應已贖回或已要求贖回X系列優先股的所有已發行股份,並已發出適當通知及已就該等贖回預留足夠資金,則根據第7(B)或7(C)條,本公司將不需要持有人投票或同意。
___________________________________________________
___________________________________________________
第8節.優先購買權和轉換權
持有者不應因本協定條款而享有任何優先購買權或轉換權。
第9節.職級
___________________________________________________
第10節.重新獲得的股份
董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的X系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。








第11小節. 無償債基金

X系列優先股的股票不受償債基金運作的約束。

第12條轉賬代理人、計算代理人、登記官及付款代理人
X系列優先股的正式指定轉讓代理人、計算代理人、註冊人和支付代理人應為ComputerShare Trust Company,N.A.公司可根據公司與轉讓代理人之間的協定,全權酌情解除轉讓代理人和/或計算代理人的職務;

但前提

,公司應指定一名繼任者轉讓代理人和/或計算代理人,該代理人應在該項免職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。

______________________________
第13節殘損、銷毀、被盜和遺失證書的補發證書
如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。
______________________________

第14條.表格X系列優先股股票

X系列優先股應以證書形式發行,其形式基本上與附件A(每個,a)的形式相同。

X系列優先股證書

“)。附件A特此併入並明確成為本指定證書的一部分。X系列優先股證書可能有法律、證券交易規則、公司必須遵守的協定(如果有的話)或慣例所要求的符號、圖例或背書(前提是任何此類符號、圖例或背書採用公司可接受的形式)。簽名兩名高級管理人員應根據公司章程和適用法律,以手工或傳真方式簽署公司的任何X系列優先股證書。如果在X系列優先股證書上簽字的高級職員在轉讓代理會籤X系列優先股證書時不再擔任該職位,則該X系列優先股證書仍然有效。在轉讓代理的授權簽字人手動加簽X系列優先股證書之前,X系列優先股證書無效。每張X系列優先股證書的日期應為其會籤日期。
第15節.稅收轉讓稅。公司應支付與發行或交付X系列優先股股票有關的任何和所有股票轉讓、單據、印花稅和類似稅款。

可就發行或交付X系列優先股股份所涉及的任何轉讓(以X系列優先股股份的登記名稱以外的名稱),或就支付給任何人士的任何付款(付款予該優先股的登記持有人除外)而支付,且無須作出任何有關發行、交付或付款,除非及直至其他有權獲得該等發行、交付或付款的人士已向本公司支付任何該等稅項,或已確立令本公司信納該等稅項已繳或不須繳交。.

扣繳





。對X系列優先股股票的所有支付和分配(或被視為分配)應在法律要求的範圍內預扣和備用預扣稅款,但須遵守適用的豁免,如果有預扣金額,應視為已由持有人收到。

.

本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發出),並預付郵資:(I)如寄往本公司,則寄往其位於紐約紐約格林威治街388號的辦公室(注意:公司祕書)或寄往馬薩諸塞州02021羅亞爾街150Royall Street的辦公室,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿所載該持有人的地址(可能包括轉讓代理的記錄)或(Iii)本公司或任何該等持有人(視情況而定)以類似方式發出的通知所指定的其他地址。

第17條放棄的其他權利。除本文件或本公司註冊證書所載者外,X系列優先股股份並無投票權、優先權或相對、參與、選擇或其他特別權利,或其資格、限制或限制。

茲證明,本指定證書已於2021年2月17日由公司司庫代表公司簽署。花旗集團。
作者: _/S/邁克爾·韋爾德斯基_
姓名:邁克爾·韋爾德斯基頭銜:財務主管
表現出3.875%固定利率重置非累積優先股表格,系列X
股票編號_X系列優先股股數_CUSIP編號:
花旗集團
(每股面值1.00美元)(清算優先權每股25,000美元)花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定的3.875%固定利率重置非累積優先股X系列(“X系列優先股”)(面值每股1美元,清算優先股每股25,000美元)[]已繳足股款及免稅股份的登記擁有人。X系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。在此陳述的X系列優先股的名稱、權利、特權、限制、優先及其他條款和條款在各方面均受日期為2021年2月17日的指定證書的規定所規限,該指定證書可能會不時修訂(下稱“指定證書”)。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。
茲參考本文背面所列X系列優先股的精選條款和指定證書,其中精選條款和指定證書在所有目的中應具有與此地所述相同的效力。持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。
除非註冊處已適當會籤,否則該等X系列優先股股份將無權享有指定證書下的任何利益,或就任何目的而言均屬有效或有義務持有。本證書由公司代表公司簽署,特此為證
[標題]並通過它的
[標題]_年_月_日。
花旗集團。作者:_姓名:職務:





作者:_姓名:職務:
司法常務官會籤這些是上述指定證書中提及的X系列優先股的股份。
日期: ComputerShare Trust Company,N.A.為註冊處處長
作者:_姓名:職務:證書的反轉
X系列優先股每股股份的股息應按照指定證書中規定的費率支付。 X系列優先股的股份可由公司選擇按照指定證書中規定的方式和條款贖回。
本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。作業
對於收到的價值,以下簽署人將特此證明的X系列優先股股份轉讓並轉讓給:(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)
(填寫受讓人地址和郵遞區號)並不可撤銷地任命:
作為轉讓X系列優先股股份的代理人,特此在轉讓代理人的帳簿上證明。 代理人可以代替他人代理。日期:
簽名:(與您的名字在本證書的另一面完全相同)
簽名保證:___________________________________________________(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)
退休證書優先股的比例





花旗集團的名字。(根據《總則》第243條
《中華人民共和國公司法》德拉瓦
花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司德拉瓦
,證明如下:第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行41,400股S系列非累積優先股(“S系列優先股”),每股面值1.00美元,每股聲明價值25,000美元。

第二:花旗集團已經註銷了S系列優先股的所有授權股份。.

(a) 第三:根據特拉華州公司法第243條的規定,被指定為優先股系列S的股份特此恢復花旗集團優先股的授權但未發行股份的狀態。特此作證,花旗集團。已促使本證書於2021年2月18日由以下正式授權的助理司庫簽署。花旗集團通過





艾麗莎·斯坦伯格助理司庫退休證書優先股的比例花旗集團的名字。(根據《總則》第243條
(b) 《中華人民共和國公司法》德拉瓦

(c) 花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司德拉瓦
,證明如下:






第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行50,000股面值為5.950%的Q系列非累積優先股(“Q系列優先股”),每股面值1.00美元,每股聲明價值25,000美元。

第二:花旗集團已經註銷了優先股Q系列的所有授權股份。

第三:根據特拉華州公司法第243條的規定,指定為優先股Q系列的股份現恢復花旗集團優先股的授權但未發行股份的狀態。

特此作證,花旗集團。已促使本證書於2021年5月19日由以下正式授權的助理司庫簽署。

花旗集團

通過
艾麗莎·斯坦伯格
助理司庫.

(a) 退休證書優先股的比例





花旗集團的名字。
(b) (根據《總則》第243條《中華人民共和國公司法》

(c) 德拉瓦花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司

德拉瓦.

(a) ,證明如下:

(b) 第三:根據特拉華州公司法第243條的規定,指定為優先股R系列的股份現恢復花旗集團優先股的授權但未發行股份的狀態。





特此作證,花旗集團。已促使本證書於2021年5月19日由以下正式授權的助理司庫簽署。

花旗集團

通過

:_/S/艾麗莎·斯坦伯格_

艾麗莎·斯坦伯格

助理司庫

授權證書

(c) 4.150%固定利率重置非累積優先股系列Y

(d) 花旗集團根據《聯合國憲章》第151條德拉瓦州一般公司法





花旗集團。



,特拉華州一家公司(“本公司”)特此證明:.

(a) 1.《公司重新註冊證書》(《公司註冊證書》)規定,公司有權發行60億股普通股(每股面值0.01美元)和3000萬股(30,000,000股)優先股,每股面值1.00美元。. 2.公司註冊證書明確授予本公司董事會(“董事會”)權力,規定發行系列優先股股票,並不時確定每個此類系列股票將包括的股份數量,以及確定每個此類系列股票的名稱、權力、優先股和權利及其資格、限制或限制。

(b) 3.根據賦予優先股委員會的權力(“.

(i) 優先股委員會“)經董事會批准,優先股委員會於2021年10月20日正式採取行動,通過決議(I)授權發行和出售至多40,000股本公司的優先股,以及(Ii)批准本指定證書的最終格式為4.150固定利率重置非累積優先股Y系列(”Y系列優先股“),確定納入本Y系列優先股的股票數量,並確定本Y系列優先股的指定、權力、優先股和權利及其資格、限制或限制如下:第1節.指定.”

(ii) 優先股系列的名稱應為“4.150固定利率重置非累積優先股,Y系列”。Y系列優先股的每一股應在各方面與Y系列優先股的其他每一股相同。第二節股份數量





Y系列優先股的授權股數為40,000股。該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會正式通過的進一步決議案,以及根據特拉華州公司法的規定提交證書,述明有關增加或減少(視情況而定),以增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的Y系列優先股的股份數目)。公司有權發行Y系列優先股的零股。

(iii) 第3節.定義。如本文中關於Y系列優先股所使用的:

(iv) 適當的聯盟銀行機構. 」指與公司相關的「適當聯邦銀行機構」,該術語的定義見1950年《聯邦存款保險法》(經修訂)或任何後續條款。董事會“具有上述演奏會中所闡述的含義。





工作日
(c) “指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。計算代理

「指以計算代理人身份行事的轉讓代理人

適用於Y系列優先股及其繼任者和轉讓者。

普通股





“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。
保存人“指DTC或其代名人或本公司委任的任何繼任託管人。
股息支付日期
(d)“應具有本協定第4(A)節規定的含義。紅利期

“應具有本協定第4(A)節規定的含義。.

股息記錄日期

“應具有本協定第4(A)節規定的含義。.

直接轉矩





」是指存管信託公司。

首次重置日期.

“應具有本協定第4(A)節規定的含義。

保持器.

「是指以其名義登記Y系列優先股股份的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為Y系列優先股股份的絕對所有者,以付款和所有其他目的。




初級股.

“指普通股及任何其他類別或系列的Y系列優先股現已存在或以後授權的公司在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。

不付款.

“應具有本協定第7(B)(I)節規定的含義。

紐約聯盟儲備銀行的網站.

(a) “應具有本協定第4(A)節規定的含義。. “指首席執行官、主席、首席行政官、任何副主席、首席財務官、主計長、首席會計本公司的高級職員、財務主管、任何副財務主管、任何助理財務主管、任何副總裁、總法律顧問兼公司祕書以及任何助理祕書。







“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。優先股董事. “應具有本協定第7(B)(I)節規定的含義。
優先股董事終止日期.

(a) “應具有本協定第7(B)(4)節所規定的含義。書記官長

(b) 監管資本事件
只要Y系列優先股中的任何一股尚未發行。.

相關政府機構

“應具有本協定第4(A)節規定的含義。






重置日期






重置股利確定日期

重置週期
“指從每個重置日期開始幷包括到下一個後續重置日期但不包括在內的期間,不包括初始重置期間,這將是從第一個重置日期開始幷包括第一個重置日期到下一個後續重置日期但不包括在內的期間。Y系列清算優先權__________________
“應具有本協定第5(A)節規定的含義。
Y系列優先股





“應具有本協定第一節所規定的含義。

Y系列優先股證書
“應具有本協定第14(A)節規定的含義。

轉移劑
指北卡羅來納州的ComputerShare Trust Company,這是一個聯盟特許的全國性協會,擔任Y系列優先股及其繼承人和受讓人的轉讓代理、計算代理、登記處和支付代理。

信任

“應具有第6(D)節所給出的含義。
第四節分紅

。當董事會或其任何正式授權的委員會宣佈時,持有人有權獲得Y系列優先股每股的非累積現金股息,金額如下,且不能超過本條款第4條規定的數額,並應於每年2月、5月、8月和11月15日(每個月、月、11月15日)支付,但只能從合法的可用資金中獲得。
股息支付日期
首次重置日期

(Ii)自首個重置日期起(包括首個重置日期),年利率相等於於最近重置股息決定日期(如下所述)的五年期國庫利率加3.000%的清盤優先股每股25,000美元的季度欠款年利率,自2027年2月15日起生效。Y系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。股息記錄日期“)。任何屬於股息記錄日期的該等日期,不論該日是否為營業日,均為股息記錄日期。

·在最近發佈的指定為H.15每日更新的統計新聞稿或任何由聯盟儲備委員會(Federal Reserve Board)截至下午5點發布的後續出版物中,交易活躍的美國國債在五個工作日內的平均收益率,調整為恆定到期日,五年期到期日的標題為“財政部恆定到期日”。(東部時間)自任何確定日期起,由計算代理全權酌情決定。
·如果沒有提供如上所述的計算,則公司(或該關聯公司)將使用其在諮詢其認為合理的任何來源後單獨酌情確定的替代利率或後續利率,該替代利率或後續利率是(I)行業公認的五年期國庫利率的替代利率或後續利率,或(Ii)如果五年期國庫利率沒有行業接受的替代利率或後續利率,即與五年期國庫利率最接近的替代利率或後續利率。在選擇替代或
如本公司(或有關聯營公司)在諮詢其認為合理的任何消息來源後,可全權酌情釐定有關替代利率或後續利率的計算方法或定義,包括為使該替代利率或後續利率與五年期國庫利率相若所需的任何調整因素,而釐定的方式須與該替代利率或後續利率的任何業界認可的做法一致。
五年期國庫券利率將在每次重置股息決定日確定。

就任何股息期而言,Y系列優先股的任何股息將按360天年度計算,包括12個30天月,而“股息期”是指從每個股息支付日期起至下一個股息支付日期(但不包括)的期間,但不包括初始股息期,即Y系列優先股發行日期起至(但不包括)第一個股息支付日期的期間。如任何股息支付日期並非營業日,則於該日期應付的任何股息將於下一個營業日支付,且不會就任何該等延遲支付任何額外的應計股息或其他付款。
本公司(或其一間聯屬公司)根據上述條文可能作出的任何決定、決定或選擇,包括有關期限、評級或調整或某事件、情況或日期的發生或不發生的任何決定,以及任何採取或不採取任何行動或任何選擇的決定,將為最終決定及具約束力,如無明顯錯誤,將由本公司(或該等聯屬公司)全權酌情作出,且,即使本指定證書有任何相反規定,在未經Y系列優先股持有人或任何其他方同意的情況下,將會生效。
任何股息率計算得出的所有百分比,如有必要,將四捨五入至1%(0.0000001)的最接近的1/100,000個百分點,向上舍入百萬分之五個百分點。在Y系列優先股計算中使用或計算得出的所有貨幣金額將舍入到最接近單位的百分之一。為了四捨五入,單位的.005應向上舍入。





非累積股息
。如果董事會或其任何正式授權的委員會沒有在相關股息支付日期之前的任何股息期間宣佈Y系列優先股的股息,該股息將不會產生,本公司將沒有義務在相關股息支付日期或未來任何時間支付該股息期間的股息,而持有人也無權收取股息,無論Y系列優先股或任何其他系列優先股或普通股是否已宣佈為任何後續期間的股息。
派息的優先次序

。只要Y系列優先股的任何股份仍未發行,除非在股息支付日期,Y系列優先股的所有已發行股票的全部股息已經宣佈和支付,並且已為當時結束的股息期間預留了足夠支付該等股息的金額,否則本公司不會,也不會促使其子公司在下一個股息期間宣佈或支付任何股息,或作出與任何初級股票有關的任何分配,或贖回、購買、收購或支付與之有關的任何清算付款,或就此作出任何擔保支付,但以下情況除外:
(I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;
(2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;
(Iii)將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票;





(4)依據初級股票的轉換或交換條款或正在轉換或交換的證券購買該等股票的零碎權益;
(V)公司的一家投資銀行附屬公司購買與分銷有關的初級股票;或
(Vi)本公司任何投資銀行附屬公司在其日常業務過程中,就與做市或其他二級市場活動有關的事宜而購買初級股票。
本第4(C)節前述規定的限制不適用於公司支付的任何初級股票股息,如果股息的形式與支付股息的股票形式相同(或購買相同股票的權利)。
在不違反上述規定的情況下,董事會或其任何正式授權的委員會可能確定的以現金、股票或其他方式支付的股息,可以從合法可用於此類支付的任何資金中不時就公司任何其他類別或系列的股票宣布和支付,持有人將無權參與這些股息。
___________________________________________________
___________________________________________________
第五節清算權
___________________________________________________
___________________________________________________
清算
。如果公司發生任何自願或非自願的清算、解散或結束公司的事務,持有人有權在公司作出任何分配或支付之前,或在公司為任何初級股票持有人預留任何分派或付款之前,從合法的可用資金中,有權在清算時優先於Y系列優先股或與Y系列優先股平價的任何類別或系列股票的持有人的權利以及公司的存款人和其他債權人的權利下,全額獲得每股25,000美元的清算優先股金額的清算分配。
___________________________________________________
___________________________________________________
“),另加自上次派發股息日期起至清盤、解散或清盤日期(但不包括該日期)的任何應累算股息,但在所宣佈的範圍內
還沒付呢。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。
___________________________________________________
部分付款
。如本公司的資產不足以全數支付上述向持有人支付的清算分派,以及在本公司任何自願或非自願清盤、解散或清盤時,在分配資產方面與Y系列優先股平分的本公司任何類別或系列股票的持有人所欠的任何清算分派,則支付給持有人及所有該等同等級別股票的持有人的金額,將按照他們原本有權獲得的清盤分派總額按比例支付。
合併、合併和出售資產,而不是清算








。就本第5條而言,出售、轉易、交換或轉讓(以現金、股票、證券或其他代價換取)本公司全部或幾乎所有財產及資產,不得視為自願或非自願解散、清盤或清盤本公司事務,亦不得視為本公司與任何其他法團或人士合併、合併或任何其他業務合併交易,或任何其他法團或人士與本公司合併、合併或任何其他業務合併交易,亦不得視為自願或非自願解散、清盤或清盤本公司事務。
第6款. 贖回
可選的贖回
。本公司可根據董事會或其任何正式授權委員會的選擇,從合法可供贖回的資金中贖回(I)在首次重置日期或之後開始的任何股息支付日期,在任何時間或不時全部或部分贖回Y系列優先股,或(Ii)在監管資本事件後90天內的任何時間贖回全部但不部分Y系列優先股,每次贖回價格相當於每股25,000美元,外加任何已申報和未支付的股息,不累積任何未申報股息,但不包括贖回日,根據下文第6(B)節的規定發出通知。
贖回通知



。郵寄日期至少應在指定的贖回日期前5天至30天。按第6(B)節規定郵寄的任何通知應被最終推定為已正式發出,不論持有人是否收到該通知,但未能以郵寄方式向指定贖回Y系列優先股股份的任何持有人發出該通知,或該通知中或郵寄中的任何瑕疵,並不影響贖回Y系列優先股任何其他股份的程式的有效性。每份通知應說明:

(I)贖回日期;

(Ii)將贖回的Y系列優先股的股份總數,如要贖回的股份少於持有人的全部股份,則須贖回該等股份的數目;

(Iii)贖回價格;

(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及(V)擬贖回股份的股息將於贖回日期停止累算。儘管有上述規定,如果證明Y系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。


部分贖回


                         。如於已發行時只贖回部分Y系列優先股,則將予贖回的Y系列優先股股份須(I)按該等持有人所持有的Y系列優先股股份數目按比例向該等持有人選擇,(Ii)以抽籤方式或(Iii)董事會或其任何正式授權委員會全權酌情決定為公平及公平的其他方式選擇。
贖回的有效性
。如贖回通知已妥為發出,且如在通知所指明的贖回日期當日或之前,本公司已將贖回所需的所有資金,除其其他資產外,按比例撥出,供贖回股份持有人按比例使用,以便可繼續用作贖回,或由本公司存入董事會或其任何正式授權委員會選定的銀行或信託公司(“





信任
“)為被要求贖回的股份持有人按比例受益,則即使任何被要求贖回的股份的任何股票尚未交回註銷,但在贖回日期當日及之後,所有被要求贖回的股份將停止發行,與該等股份有關的所有股息將於該贖回日期停止應計,而有關該等股份的所有權利將於該贖回日期立即終止及終止,惟其持有人於贖回日期後任何時間從如此存放的資金中收取贖回應付款項的權利除外。本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。於贖回日期起計三年屆滿時,任何如此繳存而無人認領的資金,須在法律許可的範圍內發放或償還予本公司,如已向本公司償還該等款項,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,金額相當於上文所述為贖回該等股份而繳存並已償還予本公司的款項,但在任何情況下均無權獲得任何利息。
一般
除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。



特別投票權

投票權

。如果及每當Y系列優先股或任何其他類別或系列優先股的股息在支付股息方面與Y系列優先股平價,且已授予並可行使與本條第7(B)(I)條所授投票權相等的投票權時(任何該等類別或系列稱為“股息平價股票”),則就任何類別或系列而言,就任何類別或系列而言,至少三個半年度或六個季度股息期(不論是否連續)(a“

不付款


“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是優先股董事選舉


。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。優先股董事每人有權就任何事項按董事投一票。


                         特別會議通知
。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書在收到任何此類請求後20天內沒有召開特別會議,則任何持有人可(費用由公司承擔)在收到第7(B)(Iii)條規定的通知後召開該會議,並為此將有權訪問公司的股票登記冊。
於任何該等特別會議上選出之優先股及在其後股東周年大會或特別大會上選出之每股優先股董事,其任期將於優先股董事終止日期及有關優先股董事獲選後下一股東周年大會之較早日期屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由在任的優先股董事填補,或如無在任的優先股董事,則由Y系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。優先股董事只能由Y系列優先股和股息平價股的持有人根據本第7條選出。如果Y系列優先股和股息平價股的持有人未能選出足夠數量的董事來填補根據本第7條他們有權選舉董事的所有董事職位,則任何未如此填補的董事職位將保持空缺,直到Y系列優先股和股息平價股的持有人根據本第7條推選一人填補該董事職位,或該空缺按照本第7條以其他方式填補;除依照本第7條規定外,公司股東不得擔任任何董事職務。




終止;移走


優先股董事終止日期

“)。

高級發行;不利變化

______________________________
。只要Y系列優先股的任何股份是流通股,但在符合第7(C)節最後一段的規定下,除了特拉華州法律要求的公司股本持有人的任何其他投票或同意外,Y系列優先股至少三分之二投票權的持有人和有權就此投票的任何其他優先股持有人的投票或同意、親自或委託代表在股東年度會議或特別會議上作為一個類別一起投票、或在未召開會議的情況下以書面形式進行投票,將是實施或驗證以下任何行動所必需的。無論特拉華州法律是否需要這樣的批准:
______________________________

(Ii)對本公司的公司註冊證書作出任何修訂或更改,以授權或設立或增加在Y系列優先股之前的本公司任何類別或系列股本的任何股份或可轉換為股份的任何證券的核準金額,以支付股息或在本公司的任何清盤、解散或清盤時分配資產;或(Iii)完成涉及Y系列優先股的有約束力的換股或重新分類,或本公司與另一實體的合併或合併,但Y系列優先股的持有人根據本條文或根據特拉華州法律將無權投票,但在以下情況下,Y系列優先股的持有人將無權投票:(I)Y系列優先股仍未發行,或在任何此類合併或合併的情況下,轉換或交換尚存或產生的實體或其最終母公司的優先證券,而該實體或最終母公司是根據美利堅合眾國的法律組織和存在的實體,任何州或哥倫比亞特區且為美國聯盟所得稅目的的公司(或如果該實體不是公司,本公司已收到在該等事項方面經驗豐富的全國公認律師的意見,大意是,在該等合併或合併後,持有者將就該等新的優先證券以相同的金額同時及以與在該等合併或合併前的Y系列優先股下的相同方式繳稅),及(Ii)該Y系列優先股仍未發行或該等優先證券,視具體情況而定,擁有的權利、優先權、特權和投票權,從整體上看,對持有人的有利程度不低於Y系列優先股的權利、優先權、特權和投票權;

但前提

為免生疑問,Y系列優先股或可轉換為優先股的任何證券或其他系列優先股或任何可轉換為優先股的證券的金額的任何增加,或其他系列優先股或任何可轉換為優先股的證券的設立和發行,或任何可轉換為與Y系列優先股同等和/或低於Y系列優先股的優先股級別的證券,在支付股息(不論該等股息是否累積或非累積)及/或在公司清算、解散或清盤時的資產分配方面,將不會被視為對Y系列優先股的投票權、優先權或特別權利產生不利影響。任何股東都無權因本第7條的規定而對此類增發、創設或發行進行投票。

倘若本第7(C)條規定的任何修訂、更改、廢除、換股、重新分類、合併或合併將對本公司一個或多個但不是所有優先股系列產生不利影響,則只有受到不利影響並有權就此事投票的優先股系列才可與Y系列優先股作為一個單一類別(代替所有其他系列優先股)就該事項進行投票,以達到本第7(C)條所要求的投票或同意的目的。如果贖回,則投反對票。根據第7(B)或7(C)條,如果在與投票有關的行為發生時或之前,不需要持票人投票或同意,則不需要投票或同意於任何情況下,本公司應已根據上文第6節贖回或要求贖回Y系列優先股的所有已發行股份,並已發出適當通知及預留足夠資金以贖回Y系列優先股。第8節.優先購買權和轉換權

持有者不應因本協定條款而享有任何優先購買權或轉換權。.

第9節.職級





為免生疑問,董事會或其任何正式授權委員會可不經持有人投票而授權及發行額外的初級股票或本公司現有或以後獲授權的任何類別或系列股票的股份,而該等股份在支付股息或在本公司任何自願或非自願清盤、解散或清盤時與Y系列優先股同等。


第10節.重新獲得的股份.

董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的Y系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。

第11小節. 無償債基金

第12款. 轉讓代理、計算代理、登記處和付款代理Y系列優先股正式指定的轉讓代理、計算代理、登記處和付款代理應為Computer share Trust Company,N.A. 公司可根據公司與轉讓代理之間的協議全權酌情罷免轉讓代理和/或計算代理;
但前提,公司應指定一名繼任者轉讓代理人和/或計算代理人,該代理人應在該項免職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。
如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。
第14條.表格
Y系列優先股應以證書形式發行,其形式基本上與附件A所示的形式相同(每份,aY系列優先股證書
“)。附件A特此併入並明確成為本指定證書的一部分。Y系列優先股證書可能有法律、證券交易規則、本公司必須遵守的協定或慣例所要求的符號、圖例或背書(只要任何此類符號、圖例或背書採用本公司可接受的形式)。簽名
兩名高級職員應根據公司章程和適用法律,以手工或傳真方式簽署公司的任何Y系列優先股證書。如果在Y系列優先股證書上簽字的高級職員在轉讓代理會籤Y系列優先股證書時不再擔任該職位,則該Y系列優先股證書仍然有效。在轉讓代理的授權簽字人手動加簽Y系列優先股證書之前,Y系列優先股證書無效。每張Y系列優先股證書的日期應為其會籤日期。
轉讓稅。公司應支付與發行或交付Y系列優先股股票有關的任何和所有股票轉讓、單據、印花稅和類似稅款。然而,本公司無須就Y系列優先股股份的發行或交付所涉及的任何轉讓(Y系列優先股股份的登記名稱除外)支付任何該等稅款,或就支付予任何人的任何付款(付款予Y系列優先股的登記持有人除外),並無須作出任何該等發行、交付或付款,除非與直至以其他方式有權獲得該等發行、交付或付款的人士已向本公司支付任何該等稅款的款額或已確立令本公司滿意的款額,該等稅項已繳付或無須繳付。
扣繳。對Y系列優先股股票的所有支付和分配(或被視為分配)應在法律要求的範圍內預扣和備用預扣稅款,但須遵守適用的豁免,如果有預扣金額,應視為持有人已收到。
本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發出),並預付郵資:(I)如寄往本公司,則寄往其位於紐約紐約格林威治街388號的辦公室(注意:公司祕書)或寄往馬薩諸塞州02021羅亞爾街150Royall Street的辦公室,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿所載該持有人的地址(可能包括轉讓代理的記錄)或(Iii)本公司或任何該等持有人(視情況而定)以類似方式發出的通知所指定的其他地址。
第17條放棄的其他權利。Y系列優先股股份並無投票權、優先權或相對、參與、選擇或其他特別權利,或其資格、限制或限制,但本文件或本公司註冊證書所載者除外。






本指定證書已於2021年10月26日由公司司庫代表公司簽署,特此為證。花旗集團。
發信人:_
_/S/邁克爾·韋爾德斯基_
姓名:邁克爾·韋爾德斯基
頭銜:財務主管表現出
Y系列4.150%固定利率重置非累積優先股表格
Y系列優先股股份數目_CUSIP編號:
花旗集團4.150%固定利率重置非累積優先股,Y系列
(每股面值1.00美元)(清算優先權每股25,000美元)
)(“持有人”)是[]本公司指定的已繳足股款及免稅股份
本文件所述Y系列優先股的名稱、權利、特權、限制、優先及其他條款及條款,在各方面均受日期為2021年10月26日的指定證書的規定所規限,該等指定證書可能會不時作出修訂(下稱“指定證書”)。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。
茲參考本文背面所列Y系列優先股的精選條款和指定證書,其中精選條款和指定證書在所有目的中應具有與此地所述相同的效力。持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。
除非註冊處已適當會籤,否則該等Y系列優先股股份將無權享有指定證書下的任何利益,亦不得就任何目的而具有效力或義務。本證書由公司代表公司簽署,特此為證





[標題]並通過它的
[標題]_年_月_日。
花旗集團。
由:_名稱:標題:司法常務官會籤
這些股票是上述指定證書中所指的Y系列優先股。日期:

ComputerShare Trust Company,N.A.為註冊處處長.

(a) 由:_名稱:標題:證書的反轉Y系列優先股的每股股息應按指定證書中規定的利率支付。Y系列優先股的股份可由本公司選擇以指定證書所載方式及條款贖回。





本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。作業對於收到的價值,以下簽署人將特此證明的Y系列優先股股份轉讓並轉讓給:(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)並不可撤銷地任命:作為轉讓Y系列優先股股份的代理人,特此在轉讓代理人的帳簿上證明。
(b) 代理人可以代替他人代理。日期:

(c) 簽名:(與您的名字在本證書的另一面完全相同)
簽名保證:






(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)

授權證書


7.375%固定利率恢復非創造性庫存Z系列


花旗集團
根據《聯合國憲章》第151條
德拉瓦州一般公司法

花旗集團。.

(a) ,特拉華州一家公司(“本公司”)特此證明:1.《公司重新註冊證書》(《公司註冊證書》)規定,公司有權發行60億股普通股(每股面值0.01美元)和3000萬股(30,000,000股)優先股,每股面值1.00美元。





2.公司註冊證書明確授予本公司董事會(“董事會”)權力,規定發行系列優先股股票,並不時確定每個此類系列股票將包括的股份數量,以及確定每個此類系列股票的名稱、權力、優先股和權利及其資格、限制或限制。3.根據賦予優先股委員會的權力(“優先股委員會
(b) Z系列優先股

(c) 第1節.指定


優先股系列的名稱應為“7.375固定利率重置非累積優先股,Z系列”。Z系列優先股的每一股應在各方面與Z系列優先股的每一股相同。.

(a) 第二節股份數量

(b) 第3節.定義。如本文針對Z系列優先股所使用的:





適當的聯盟銀行機構

指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中定義的與公司有關的“適當的聯盟銀行機構”。

董事會

“具有上述演奏會中所闡述的含義。

工作日

“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。

計算代理

(c) 「指以計算代理人身份行事的轉讓代理人Z系列優先股及其繼任者和轉讓者。

(d) 普通股“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。保存人“指DTC或其代名人或本公司委任的任何繼任託管人。





股息支付日期


“應具有本協定第4(A)節規定的含義。.

(a) 紅利期. “應具有本協定第4(A)節規定的含義。

(b) 股息記錄日期.

(i) “應具有本協定第4(A)節規定的含義。直接轉矩」是指存管信託公司。首次重置日期“應具有本協定第4(A)節規定的含義。.”

(ii) 保持器「是指以其名義登記Z系列優先股股份的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為Z系列優先股股份的絕對所有者,以付款和所有其他目的。





初級股

(iii) “指普通股及任何其他類別或系列的Z系列優先股現已存在或以後授權的公司

(iv) 在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。. 不付款





“應具有本協定第7(B)(I)節規定的含義。紐約聯盟儲備銀行的網站“應具有本協定第4(A)節規定的含義。
(c) “指首席執行官、主席、首席行政官、任何副主席、首席財務官、主計長、首席會計

本公司的高級職員、財務主管、任何副財務主管、任何助理財務主管、任何副總裁、總法律顧問兼公司祕書以及任何助理祕書。


“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。





優先股董事
“應具有本協定第7(B)(I)節規定的含義。優先股董事終止日期
“應具有本協定第7(B)(4)節所規定的含義。
(d)書記官長「指以Z系列優先股登記員身份行事的轉讓代理及其繼任者和轉讓人。


監管資本事件.

“指本公司真誠地決定,由於(I)對美國的法律或法規(為免生疑問,包括美國的任何機構或機構,包括美聯儲和其他聯盟銀行監管機構)或美國的任何政治分支的任何修訂、澄清或更改,而該等法律或法規在Z系列優先股的任何股份首次發行後頒佈或生效;(Ii)在Z系列優先股的任何股份首次發行後宣佈或生效的該等法律或法規的任何擬議更改,或(Iii)在Z系列優先股的任何股票首次發行後宣佈的解釋或實施與之相關的法律或法規或政策的任何官方行政決定或司法決定或行政行動或其他官方聲明,公司將有權根據當時有效和適用的美聯儲資本充足率指導方針(或如適用,任何後續適當的聯盟銀行機構的資本充足率指導方針或法規)的目的,將當時有效且適用的Z系列優先股每股25,000美元的全部清算優先股金額視為“一級資本”(或其等價物),這是一種微不足道的風險。只要Z系列優先股的任何股份是流通股。

相關政府機構.






“應具有本協定第4(A)節規定的含義。

.

“指第一個重置日期和每個日期落在前一個重置日期的五週年,而任何重置日期,包括第一個重置日期,將不會因營業日而調整。

重置股利確定日期.

“就任何重置期間而言,指該重置期間開始前三個營業日的日期。


重置週期.

“指從每個重置日期開始幷包括到下一個後續重置日期但不包括在內的期間,不包括初始重置期間,這將是從第一個重置日期開始幷包括第一個重置日期到下一個後續重置日期但不包括在內的期間。“應具有本協定第5(A)節規定的含義。

Z系列優先股.

“應具有本協定第一節所規定的含義。

.

(a) “應具有本協定第14(A)節規定的含義。. 轉移劑指北卡羅來納州的ComputerShare Trust Company,這是一個聯盟特許的全國性協會,擔任Z系列優先股及其繼承人和受讓人的轉讓代理、計算代理、登記處和支付代理。信任





“應具有第6(D)節所給出的含義。


第四節分紅. 。當董事會或其任何正式授權的委員會宣佈時,持有人有權獲得Z系列優先股每股的非累積現金股息,金額如下,並在每年2月、5月、8月和11月15日(每個月、月、11月15日)支付,但只能從合法的可用資金中獲得。
股息支付日期.

(a) ),(I)自發出日期起至2028年5月15日(包括該日期)的季度欠款(包括該日期在內)首次重置日期

(b) 自2023年8月15日起,(Ii)自首個重置日期起(包括首個重置日期在內),每個重置期間的年利率相等於於最近重置股息決定日期(如下所述)的五年期國庫利率加自2028年8月15日開始的清盤優先股每股25,000美元的3.209%。Z系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。
股息記錄日期.

“)。任何屬於股息記錄日期的該等日期,不論該日是否為營業日,均為股息記錄日期。






自第一個重置日期或之後開始的任何重置期間,五年期國庫券利率將為:

·在最近發佈的指定為H.15每日更新的統計新聞稿或任何由聯盟儲備委員會(Federal Reserve Board)截至下午5點發布的後續出版物中,交易活躍的美國國債在五個工作日內的平均收益率,調整為恆定到期日,五年期到期日的標題為“財政部恆定到期日”。(東部時間)自任何確定日期起,由計算代理全權酌情決定。








·如果沒有提供如上所述的計算,則公司(或該關聯公司)將使用其在諮詢其認為合理的任何來源後單獨酌情確定的替代利率或後續利率,該替代利率或後續利率是(I)行業公認的五年期國庫利率的替代利率或後續利率,或(Ii)如果五年期國庫利率沒有行業接受的替代利率或後續利率,即與五年期國庫利率最接近的替代利率或後續利率。在選擇替代或如本公司(或有關聯營公司)在諮詢其認為合理的任何消息來源後,可全權酌情釐定有關替代利率或後續利率的計算方法或定義,包括為使該替代利率或後續利率與五年期國庫利率相若所需的任何調整因素,而釐定的方式須與該替代利率或後續利率的任何業界認可的做法一致。五年期國庫券利率將在每次重置股息決定日確定。

如任何股息支付日期並非營業日,則於該日期應付的任何股息將於下一個營業日支付,且不會就任何該等延遲支付任何額外的應計股息或其他付款。
本公司(或其一間聯屬公司)根據上述條文可能作出的任何決定、決定或選擇,包括有關期限、評級或調整或某事件、情況或日期的發生或不發生的任何決定,以及任何採取或不採取任何行動或任何選擇的決定,將為最終決定及具約束力,如無明顯錯誤,將由本公司(或該等聯屬公司)全權酌情作出,且即使本指定證書有任何相反規定,亦須在未經Z系列優先股持有人或任何其他方同意的情況下生效。任何股息率計算得出的所有百分比,如有必要,將四捨五入至1%(0.0000001)的最接近的1/100,000個百分點,向上舍入百萬分之五個百分點。在Z系列優先股計算中使用或計算得出的所有貨幣金額將舍入到最接近單位的百分之一。為了四捨五入,單位的.005應向上舍入。________________
非累積股息





派息的優先次序

。只要Z系列優先股的任何股份仍未發行,除非在股息支付日期,Z系列優先股的所有已發行股票的全部股息已經宣佈和支付,並且已為當時結束的股息期間預留了足夠支付該等股息的金額,否則本公司不會,也不會促使其子公司在下一個股息期間宣佈或支付任何股息,或作出任何與任何初級股票有關的分派,或贖回、購買、收購或支付與之有關的任何清算付款,或就此作出任何擔保支付,但以下情況除外:
(I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;

(2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;
(Iii)將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票;

(4)依據初級股票的轉換或交換條款或正在轉換或交換的證券購買該等股票的零碎權益;

(V)公司的一家投資銀行附屬公司購買與分銷有關的初級股票;或
(Vi)本公司任何投資銀行附屬公司在其日常業務過程中,就與做市或其他二級市場活動有關的事宜而購買初級股票。
本第4(C)節前述規定的限制不適用於公司支付的任何初級股票股息,如果股息的形式與支付股息的股票形式相同(或購買相同股票的權利)。

除以下規定外,只要Z系列優先股的任何股份仍未支付股息,如果Z系列優先股和公司目前存在或以後授權的任何類別或系列股票在支付股息方面與Z系列優先股平等,則不宣佈和全額支付股息,對Z系列優先股和其他股票宣佈的所有股息將按比例宣佈,因此每股宣佈的股息額將與Z系列優先股當時的股息期每股應計股息和該其他股票當時的當前股息期每股應計股息之間的比率相同(包括,對於承擔累積股息的任何其他股票,所有應計和未支付的股息)彼此之間的比率。
在不違反上述規定的情況下,董事會或其任何正式授權的委員會可能確定的以現金、股票或其他方式支付的股息,可以從合法可用於此類支付的任何資金中不時就公司任何其他類別或系列的股票宣布和支付,持有人將無權參與這些股息。
第五節清算權
清算

。如果公司發生任何自願或非自願的清算、解散或結束公司的事務,持有人有權在公司作出任何分派或支付或為任何初級股票持有人預留任何款項之前,從合法可用資金中獲得全部清算分派,並受清算時優先於或與Z系列優先股平價的任何類別或系列股票的持有人的權利以及公司的存款人和其他債權人的權利的限制,以獲得每股25,000美元的清算優先股的全額清算分派。Z系列清算優先權“),另加自上次派發股息日期起至清盤、解散或清盤日期(但不包括該日期)的任何應累算股息,但在所宣佈的範圍內還沒付呢。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。部分付款

。如本公司的資產不足以全數支付上述向持有人支付的清算分派,以及在本公司任何自願或非自願清盤、解散或清盤時,在分配資產方面與Z系列優先股平分的本公司任何類別或系列股票的持有人所欠的任何清算分派,則向持有人及所有該等同等級別股票的持有人支付的金額,將按照他們原本有權獲得的清盤分派總額按比例支付。

合併、合併和出售資產,而不是清算

第6款. 贖回

可選的贖回
。本公司可根據董事會或其任何正式授權委員會的選擇,從合法可供贖回的資金中贖回(I)在首次重置日期或之後開始的任何股息支付日期,在任何時間或不時全部或部分贖回Z系列優先股,或(Ii)在監管資本事件後90天內的任何時間全部但不部分贖回Z系列優先股,每次贖回價格相當於每股25,000美元加上任何已申報和未支付的股息,不累積任何未申報股息,但不包括贖回日,根據下文第6(B)節的規定發出通知。
贖回通知





。凡贖回Z系列優先股股份的通知,須以預付郵資的頭等郵遞方式郵寄至將予贖回的該等股份持有人,地址分別為彼等在本公司股票登記冊上的最後地址。郵寄日期至少應在指定的贖回日期前5天至30天。按本第6(B)條規定郵寄的任何通知應被最終推定為已正式發出,不論持有人是否收到該通知,但未能以郵寄方式向指定贖回Z系列優先股股份的任何持有人發出該通知,或該通知中或郵寄中的任何瑕疵,並不影響贖回Z系列優先股任何其他股份的程式的有效性。每份通知應說明:
(I)贖回日期;
(Ii)將贖回的Z系列優先股的股份總數,如要贖回的股份少於持有人的全部股份,則須贖回該等股份的數目;

(Iii)贖回價格;
(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及
(V)擬贖回股份的股息將於贖回日期停止累算。
儘管如上所述,如果證明Z系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。





。如於已發行時只贖回Z系列優先股的部分股份,則將予贖回的Z系列優先股股份須(I)按該等持有人所持Z系列優先股的股份數目按比例向持有人選擇,(Ii)以抽籤方式或(Iii)董事會或其任何正式授權委員會全權酌情決定為公平及公平的其他方式選擇。在符合本第6條規定的情況下,董事會或董事會任何正式授權的委員會有完全權力和權力規定Z系列優先股股票應不時贖回的條款和條件。
贖回的有效性
信任
“)為被要求贖回的股份持有人按比例受益,則即使任何被要求贖回的股份的任何股票尚未交回註銷,但在贖回日期當日及之後,所有被要求贖回的股份將停止發行,與該等股份有關的所有股息將於該贖回日期停止應計,而有關該等股份的所有權利將於該贖回日期立即終止及終止,惟其持有人於贖回日期後任何時間從如此存放的資金中收取贖回應付款項的權利除外。本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。於贖回日期起計三年屆滿時,任何如此繳存而無人認領的資金,須在法律許可的範圍內發放或償還予本公司,如已向本公司償還該等款項,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,金額相當於上文所述為贖回該等股份而繳存並已償還予本公司的款項,但在任何情況下均無權獲得任何利息。
___________________________________________________
___________________________________________________
第七節投票權
___________________________________________________
___________________________________________________
一般
除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。
___________________________________________________
___________________________________________________
特別投票權
投票權
。如果及每當Z系列優先股或任何其他類別或系列優先股的股息在支付股息方面與Z系列優先股平價,且已授予並可行使與本條第7(B)(I)條所授投票權相等的投票權(任何該等類別或系列稱為“股息平價股票”)時,就任何類別或系列而言,就任何類別或系列而言,至少三個半年度或六個季度股息期(不論是否連續)(a“
___________________________________________________
不付款
“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是
優先股董事




選舉
。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。在根據上文第7(B)(I)條賦予特別投票權後的任何時間,公司祕書可在Z系列優先股至少20%的投票權持有人或當時已發行的任何系列股息平價股票至少20%的投票權的持有人(該等投票權是根據選舉優先股董事的投票權衡量)的書面要求下(向公司主要辦事處的祕書提出),Z系列優先股及任何股息平價股的股東必須(除非在本公司下屆股東周年大會或特別大會指定日期前90天內收到有關要求,而在此情況下,有關選擇須在該下一屆股東周年大會或特別大會上舉行),以選舉優先股董事。優先股董事每人有權就任何事項按董事投一票。
特別會議通知
。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書在收到任何此類請求後20天內沒有召開特別會議,則任何持有人可(費用由公司承擔)在收到第7(B)(Iii)條規定的通知後召開該會議,並為此將有權訪問公司的股票登記冊。優先股董事
於任何該等特別會議上選出之優先股及在其後股東周年大會或特別大會上選出之每股優先股董事,其任期將於優先股董事終止日期及有關優先股董事獲選後下一股東周年大會之較早日期屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由在任的優先股董事填補,或如無在任的優先股董事,則由Z系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。優先股董事只能由Z系列優先股和股息平價股的持有人根據本第7條選出。如果Z系列優先股和股息平價股的持有人未能選出足夠數量的董事來填補根據本第7條他們有權選舉董事的所有董事職位,則任何未如此填補的董事職位將保持空缺,直到Z系列優先股和股息平價股的持有人根據本第7條推選一人填補該董事職位,或該空缺按照本第7條以其他方式填補;除依照本第7條規定外,公司股東不得擔任任何董事職務。



終止;移走


優先股董事終止日期

“)。

高級發行;不利變化。無論特拉華州法律是否需要這樣的批准:(I)對本公司的公司註冊證書(包括設立Z系列優先股的指定證書)或本公司的附例的任何條文作出的任何修訂、更改或廢除,而該等條文會改變或改變Z系列優先股的投票權、優先股、經濟權利或特別權利,從而對其產生不利影響;


(Ii)對本公司的公司註冊證書作出任何修訂或更改,以授權或設立或增加本公司在Z系列優先股之前的任何類別或系列股本的任何股份或可轉換為股份的任何證券的核準金額,以支付股息或在本公司的任何清盤、解散或清盤時分配資產;或


任何州或哥倫比亞特區且為美國聯盟所得稅目的的公司(或如果該實體不是公司,則本公司已收到在該等事項方面經驗豐富的全國公認律師的意見,大意是,在該等合併或合併後,持有者將就該等新的優先證券以相同的金額同時及以與在該等合併或合併前的Z系列優先股下的相同方式繳稅),及(Ii)該Z系列優先股仍未發行或該等優先證券,但前提
任何股東都無權因本第7條的規定而對此類增發、創設或發行進行投票。
倘若本第7(C)條規定的任何修訂、更改、廢除、換股、重新分類、合併或合併將對本公司一個或多個但不是所有優先股系列產生不利影響,則只有受到不利影響並有權就此事投票的優先股系列才可與Z系列優先股作為一個單一類別(代替所有其他系列優先股)就該事項進行投票,以達到本第7(C)條所要求的投票或同意的目的。





如果贖回,則投反對票


於任何情況下,本公司應已根據上文第6節贖回或要求贖回Z系列優先股的所有已發行股份,並已發出適當通知及預留足夠資金以贖回Z系列優先股。

第8節.優先購買權和轉換權

持有者不應因本協定條款而享有任何優先購買權或轉換權。

______________________________
第9節.職級
為免生疑問,董事會或其任何正式授權委員會可不經持有人投票而授權及發行額外的初級股票或本公司現有或以後獲授權的任何類別或系列股票的股份,而該等股份在支付股息或在本公司任何自願或非自願清盤、解散或清盤時與Z系列優先股同等。
______________________________

第10節.重新獲得的股份董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的Z系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。

第11小節. 無償債基金


Z系列優先股的正式指定轉讓代理人、計算代理人、註冊人和支付代理人應為ComputerShare Trust Company,N.A.公司可根據公司與轉讓代理人之間的協定,全權酌情解除轉讓代理人和/或計算代理人的職務;但前提,公司應指定一名繼任者轉讓代理人和/或計算代理人,該代理人應在該項免職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。






如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。.



Z系列優先股股票.

Z系列優先股應以證書形式發行,其形式基本上與附件A(每個,a)的形式相同。

“)。附件A特此併入並明確成為本指定證書的一部分。Z系列優先股證書可能有法律、證券交易規則、公司必須遵守的協定(如果有的話)或慣例所要求的符號、圖例或背書(前提是任何此類符號、圖例或背書採用公司可接受的形式)。

簽名兩名高級職員應根據公司章程和適用法律,以手工或傳真方式簽署公司的任何Z系列優先股證書。如果在Z系列優先股證書上簽字的高級職員在轉讓代理會籤Z系列優先股證書時不再擔任該職位,則該Z系列優先股證書仍然有效。Z系列優先股證書在轉讓代理的授權簽字人手動加簽Z系列優先股證書之前無效。每張Z系列優先股證書的日期應為其會籤之日。
轉讓稅
。公司應支付與發行或交付Z系列優先股股票有關的任何和所有股票轉讓、單據、印花稅和類似稅款。然而,本公司無須就發行或交付Z系列優先股股份所涉及的任何轉讓(Z系列優先股股份的登記名稱除外)繳付任何該等稅款,或就支付予任何人的任何付款(付款予Z系列優先股的登記持有人除外),並無須作出任何該等發行、交付或付款,除非與直至以其他方式有權獲得該等發行、交付或付款的人已向本公司繳付任何該等稅款的款額或已確立令本公司滿意的款額,該等稅項已繳付或無須繳付。扣繳
。對Z系列優先股股票的所有支付和分配(或被視為分配)應在法律要求的範圍內預扣和備用預扣稅款,但須遵守適用的豁免,如果有預扣金額,應視為已由持有人收到。
本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發出),並預付郵資:(I)如寄往本公司,則寄往其位於紐約紐約格林威治街388號的辦公室(注意:公司祕書)或寄往馬薩諸塞州02021羅亞爾街150Royall Street的辦公室,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿所載該持有人的地址(可能包括轉讓代理的記錄)或(Iii)本公司或任何該等持有人(視情況而定)以類似方式發出的通知所指定的其他地址。第17條放棄的其他權利。
花旗集團。作者:
/S/邁克爾·韋爾德斯基_姓名:邁克爾·韋爾德斯基
頭銜:財務主管表現出
7.375%固定利率重置非累積優先股的形式,Z系列股票編號_Z系列優先股股數_





CUSIP編號:花旗集團

7.375%固定利率重置非累積優先股,Z系列(每股面值1.00美元)(清算優先權每股25,000美元)
花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定的7.375%固定利率重置非累積優先股Z系列(“Z系列優先股”)(面值每股1美元,清算優先股每股25,000美元)[]已繳足股款及免稅股份的登記擁有人。Z系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。本文件所述Z系列優先股的名稱、權利、特權、限制、優先及其他條款及條文,在各方面均受日期為2023年3月6日的指定證書(下稱“指定證書”)的規定所規限。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。
茲參考本文背面所列Z系列優先股的精選條款和指定證書,其中精選條款和指定證書在所有目的中應具有與此地所述相同的效力。
持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。
除非註冊處已適當會籤,否則該等Z系列優先股股份將無權根據指定證書享有任何利益,亦不得就任何目的而具有效力或義務。本證書由公司代表公司簽署,特此為證
[標題]並通過它的
[標題]_年_月_日。
花旗集團。由:_名稱:標題:
作者:_姓名:職務:司法常務官會籤
這些是上述指定證書中提及的Z系列優先股的股份。日期:
ComputerShare Trust Company,N.A.為註冊處處長作者:_姓名:職務:
證書的反轉 每股Z系列優先股的股息應按照指定證書中規定的費率支付。
Z系列優先股的股份可由公司選擇按照指定證書中規定的方式和條款贖回。 本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。





作業 對於收到的價值,以下簽署人將特此證明的Z系列優先股股份轉讓並轉讓給:
(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)
並不可撤銷地任命:作為轉讓Z系列優先股股份的代理人,特此在轉讓代理人的帳簿上證明。 代理人可以代替他人代理。
日期:簽名:
(與您的名字在本證書的另一面完全相同)簽名保證:___________________________________________________
(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)退休證書






優先股的比例.

(a) 花旗集團的名字。(根據《總則》第243條《中華人民共和國公司法》德拉瓦花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司德拉瓦,證明如下:第三:根據特拉華州公司法第243條的規定,被指定為優先股B系列的股份現恢復花旗集團優先股的授權但未發行股份的狀態。
(b) 特此作證,花旗集團。已促使本證書於2023年9月5日由以下正式授權的助理司庫簽署。花旗集團

(c) 通過:/S/艾麗莎·斯坦伯格_





艾麗莎·斯坦伯格
助理司庫

授權證書


7.625%固定利率重置非累積優先股系列AA


花旗集團

根據《聯合國憲章》第151條
德拉瓦州一般公司法
花旗集團。






,特拉華州一家公司(“本公司”)特此證明:.

(a) 1.《公司重新註冊證書》(《公司註冊證書》)規定,公司有權發行60億股普通股(每股面值0.01美元)和3000萬股(30,000,000股)優先股,每股面值1.00美元。2.公司註冊證書明確授予本公司董事會(“董事會”)權力,規定發行系列優先股股票,並不時確定每個此類系列股票將包括的股份數量,以及確定每個此類系列股票的名稱、權力、優先股和權利及其資格、限制或限制。3.根據賦予優先股委員會的權力(“優先股委員會
(b) “)經董事會批准,優先股委員會於2023年9月14日正式採取行動,通過決議(I)授權發行及出售最多60,000股本公司優先股,及(Ii)批准本最終形式的指定證書,固定利率7.625%重置非累積優先股AA系列(”AA系列優先股

(c) 第1節.指定


優先股系列的名稱應為“7.625固定利率重置非累積優先股,AA系列”。AA系列優先股的每一股應在各方面與AA系列優先股的其他每一股相同。.

(a) 第二節股份數量AA系列優先股的授權股數為60,000股。該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會正式通過的進一步決議案,以及根據特拉華州公司法的規定提交證書,述明有關增加或減少(視乎情況而定)而不時增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的AA系列優先股的股份數目)。本公司有權發行AA系列優先股的零碎股份。





第3節.定義

(b) . 如本文中針對AA系列優先股所使用的:適當的聯盟銀行機構

」指與公司相關的「適當聯邦銀行機構」,該術語的定義見1950年《聯邦存款保險法》(經修訂)或任何後續條款。

董事會

“具有上述演奏會中所闡述的含義。

工作日

“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。

計算代理

(c) 「指以計算代理人身份行事的轉讓代理人AA系列優先股及其繼任者和轉讓者。 普通股“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。





保存人

(d) “指DTC或其代名人或本公司委任的任何繼任託管人。股息支付日期“應具有本協定第4(A)節規定的含義。紅利期


“應具有本協定第4(A)節規定的含義。.

(a) 股息記錄日期. “應具有本協定第4(A)節規定的含義。

(b) 直接轉矩.

(i) 」是指存管信託公司。首次重置日期“應具有本協定第4(A)節規定的含義。保持器





「指AA系列優先股股份以其名義登記的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為AA系列優先股股份的絕對所有者,以支付付款和所有其他目的。初級股.”

(ii) “指普通股及任何其他類別或系列的AA系列優先股現已存在或以後授權的公司

(iii) 在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。不付款





“應具有本協定第7(B)(I)節規定的含義。

(iv) 紐約聯盟儲備銀行的網站. “應具有本協定第4(A)節規定的含義。“指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。
(c) “是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。

優先股董事

“應具有本協定第7(B)(I)節規定的含義。





優先股董事終止日期

“應具有本協定第7(B)(4)節所規定的含義。
書記官長“指以AA系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。
監管資本事件
(d)只要AA系列優先股的任何股份是流通股。相關政府機構





“應具有本協定第4(A)節規定的含義。


.

“指第一個重置日期和每個日期落在前一個重置日期的五週年,而任何重置日期,包括第一個重置日期,將不會因營業日而調整。

重置股利確定日期.

“就任何重置期間而言,指該重置期間開始前三個營業日的日期。

重置週期.

“指從每個重置日期開始幷包括到下一個後續重置日期但不包括在內的期間,不包括初始重置期間,這將是從第一個重置日期開始幷包括第一個重置日期到下一個後續重置日期但不包括在內的期間。

系列AA清算優先權.

“應具有本協定第5(A)節規定的含義。


AA系列優先股.

“應具有本協定第一節所規定的含義。AA系列優先股證書“應具有本協定第14(A)節規定的含義。

轉移劑.






指北卡羅來納州電腦股份信託公司,這是一個聯盟特許的全國性協會,擔任AA系列優先股及其繼承人和受讓人的轉讓代理、計算代理、登記處和支付代理。

信任.

(a) “應具有第6(D)節所給出的含義。. 第四節分紅。當董事會或其任何正式授權的委員會宣佈時,持有人有權獲得AA系列優先股每股的非累積現金股息,金額如下,且不超過於每年2月、5月、8月和11月15日支付的股息,但只能從合法的可用資金中獲得。


股息支付日期),(I)自發出日期起至2028年11月15日(但不包括該日期)的季度欠款(包括. 首次重置日期
自2024年2月15日起,(Ii)自首個重置日期起(包括首個重置日期),年利率相等於於最近重置股息決定日期(如下所述)的五年期國庫利率加上3.211%的清盤優先股每股25,000美元的季度欠款,自2029年2月15日起生效。.

(a) AA系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。股息記錄日期

(b) “)。任何屬於股息記錄日期的該等日期,不論該日是否為營業日,均為股息記錄日期。





·在最近發佈的指定為H.15每日更新的統計新聞稿或任何由聯盟儲備委員會(Federal Reserve Board)截至下午5點發布的後續出版物中,交易活躍的美國國債在五個工作日內的平均收益率,調整為恆定到期日,五年期到期日的標題為“財政部恆定到期日”。(東部時間)自任何確定日期起,由計算代理全權酌情決定。.

·如果沒有提供如上所述的計算,則公司(或該關聯公司)將使用其在諮詢其認為合理的任何來源後單獨酌情確定的替代利率或後續利率,該替代利率或後續利率是(I)行業公認的五年期國庫利率的替代利率或後續利率,或(Ii)如果五年期國庫利率沒有行業接受的替代利率或後續利率,即與五年期國庫利率最接近的替代利率或後續利率。在選定替代利率或後續利率後,本公司(或有關聯營公司)可在諮詢其認為合理的任何消息來源後自行決定計算替代利率或後續利率的日數慣例、營業日慣例、營業日的定義、重置股息決定日期及任何其他相關計算替代或後續利率的方法或定義,包括其確定的使替代利率或後續利率與五年期國庫利率相當所需的任何調整因素,其方式應與該替代利率或後續利率的任何行業公認做法保持一致。

五年期國庫券利率將在每次重置股息決定日確定。

就任何股息期而言,AA系列優先股的任何股息將按360天年度計算,包括12個30天月,而“股息期”指自每個股息支付日期起至下一個股息支付日期(但不包括)的期間,但不包括初始股息期,即AA系列優先股發行日期起至(但不包括)第一個股息支付日期的期間。如任何股息支付日期並非營業日,則於該日期應付的任何股息將於下一個營業日支付,且不會就任何該等延遲支付任何額外的應計股息或其他付款。








本公司(或其一間聯屬公司)根據上述條文可能作出的任何決定、決定或選擇,包括有關期限、評級或調整或某事件、情況或日期的發生或不發生的任何決定,以及採取或不採取任何行動或任何選擇的任何決定,將為最終決定及具約束力,如無明顯錯誤,將由本公司(或該等聯屬公司)全權酌情作出,且,即使本指定證書有任何相反規定,在未經AA系列優先股持有人或任何其他方同意的情況下,將會生效。任何股息率計算得出的所有百分比,如有必要,將四捨五入至1%(0.0000001)的最接近的1/100,000個百分點,向上舍入百萬分之五個百分點。在AA系列優先股計算中使用或產生的所有貨幣金額將舍入到最接近單位的百分之一。為了四捨五入,單位的.005應向上舍入。非累積股息

。如果董事會或其任何正式授權的委員會沒有在相關股息支付日期之前的任何股息期間宣佈AA系列優先股的股息,該股息將不會產生,本公司將沒有義務在相關股息支付日期或未來任何時間支付該股息期間的股息,而持有人也無權收取該股息期間的股息,無論是否宣佈了AA系列優先股或任何其他系列優先股或普通股的股息。
派息的優先次序________________
(I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;
(2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;





(Iii)將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票;

(4)依據初級股票的轉換或交換條款或正在轉換或交換的證券購買該等股票的零碎權益;
(V)公司的一家投資銀行附屬公司購買與分銷有關的初級股票;或

(Vi)本公司任何投資銀行附屬公司在其日常業務過程中,就與做市或其他二級市場活動有關的事宜而購買初級股票。
本第4(C)節前述規定的限制不適用於公司支付的任何初級股票股息,如果股息的形式與支付股息的股票形式相同(或購買相同股票的權利)。

除以下規定外,只要AA系列優先股的任何股份仍未支付股息,如果AA系列優先股的股份以及公司現有或以後批准的與AA系列優先股同等級別的任何類別或系列股票在支付股息方面沒有全數宣佈和支付股息,就AA系列優先股及該等其他股票宣佈的所有股息將按比例公佈,因此每股宣佈的股息數額將與AA系列優先股當時的當期股息期每股應計股息與該等其他股票(如屬承擔累積股息的任何其他股票,則包括所有應計及未支付股息)的應計股息之間的比率相同。

在不違反上述規定的情況下,董事會或其任何正式授權的委員會可能確定的以現金、股票或其他方式支付的股息,可以從合法可用於此類支付的任何資金中不時就公司任何其他類別或系列的股票宣布和支付,持有人將無權參與這些股息。
第五節清算權
清算

。如果公司發生任何自動或非自願的清算、解散或結束公司的事務,持有人應有權在公司作出任何分配或支付或預留給任何初級股票持有人之前,從合法的可用資金中,並受清算時優先於AA系列優先股或與AA系列優先股平價的任何類別或系列股票的持有人的權利以及
本公司的存款人及其他債權人,將獲得每股25,000美元的清盤優先股的全部清盤分派(“
“),加上自上次股息支付日期起至(但不包括)已宣佈但尚未支付的範圍內的清盤、解散或清盤日期的任何應計股息。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。

部分付款。如本公司的資產不足以全數支付上述向持有人支付的清算分派,以及在本公司任何自願或非自願清盤、解散或清盤時與AA系列優先股同等分配資產的本公司任何類別或系列股票的持有人所欠的任何清算分派,則支付給持有人及所有該等同等級別股票持有人的款項須按彼等原本有權獲得的清盤分派總額按比例支付。合併、合併和出售資產,而不是清算第6款. 贖回

可選的贖回

。本公司可根據董事會或其任何正式授權委員會的選擇,從合法可供贖回的資金中贖回(I)在首次重置日期或之後開始的任何股息支付日期,在任何時間或不時全部或部分贖回AA系列優先股,或(Ii)在監管資本事件後90天內的任何時間全部但不部分贖回AA系列優先股,每次贖回價格相當於每股25,000美元加上任何已申報和未支付的股息,不累積任何未申報股息,但不包括贖回日,根據下文第6(B)節的規定發出通知。
贖回通知
。每一次贖回AA系列優先股股份的通知應以預付郵資的頭等郵遞方式郵寄給該等股份持有人,並按其在本公司股票登記冊上的最後地址予以贖回。每份通知應說明:

(I)贖回日期;
(Ii)須贖回的AA系列優先股的股份總數,如要贖回的股份少於持有人的全部股份,則須贖回的股份數目;
(Iii)贖回價格;





(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及
(V)擬贖回股份的股息將於贖回日期停止累算。
儘管如上所述,如果證明AA系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。

部分贖回
。如於已發行時只贖回部分AA系列優先股,則將予贖回的AA系列優先股股份須(I)按該等持有人所持有的AA系列優先股股份數目按比例向該等持有人選擇,(Ii)以抽籤方式或(Iii)董事會或其任何正式授權委員會全權酌情決定為公平及公平的其他方式選擇。在本第6條條文的規限下,董事會或董事會任何正式授權的委員會有完全權力及權力規定不時贖回AA系列優先股股份的條款及條件。
贖回的有效性
。如贖回通知已妥為發出,且如在通知所指明的贖回日期當日或之前,本公司已將贖回所需的所有資金,除其其他資產外,按比例撥出,供贖回股份持有人按比例使用,以便可繼續用作贖回,或由本公司存入董事會或其任何正式授權委員會選定的銀行或信託公司(“





信任
“)為被要求贖回的股份持有人按比例受益,則即使任何被要求贖回的股份的任何股票尚未交回註銷,但在贖回日期當日及之後,所有被要求贖回的股份將停止發行,與該等股份有關的所有股息將於該贖回日期停止應計,而有關該等股份的所有權利將於該贖回日期立即終止及終止,惟其持有人於贖回日期後任何時間從如此存放的資金中收取贖回應付款項的權利除外。本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。在贖回日期起計三年屆滿時,任何如此存放而又無人認領的資金,須在法律許可的範圍內發放或償還予本公司,如已向本公司償還,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,其金額相當於
第七節投票權
一般
除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。
___________________________________________________
___________________________________________________
特別投票權
___________________________________________________
___________________________________________________
投票權
。如果及每當AA系列優先股或任何其他類別或系列優先股的股息在支付股息方面與AA系列優先股平價,而該等優先股的投票權與本條第7(B)(I)條授予並可行使的投票權(此處稱為“股息平價股票”)並未宣佈及支付總額相等於至少三個半年度或六個季度股息期(視何者適用而定)(a“
___________________________________________________
___________________________________________________
不付款
“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是
優先股董事
___________________________________________________
選舉
。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。在根據上文第7(B)(I)條賦予特別投票權後的任何時間,公司祕書可在AA系列優先股至少20%的投票權持有人或當時已發行的任何系列股息平價股票至少20%的投票權的持有人(該等投票權是根據選舉優先股董事的投票權衡量)的書面要求下(向公司主要辦事處的祕書提出),必須(除非在本公司下屆股東周年大會或特別大會日期前90天內收到有關要求,在此情況下,有關選擇須在該股東下屆股東周年大會或特別大會上舉行),就選舉優先股董事而言,必須召開AA系列優先股及任何股息平價股的股東特別大會。優先股董事每人有權就任何事項按董事投一票。
特別會議通知







。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書沒有召喚一個特別的

在收到任何該等要求後20天內,任何持有人均可(費用由本公司承擔)在收到本條第7(B)(Iii)條所規定的通知後召開該會議,並為此可查閱本公司的股票登記冊。在任何該等特別會議上選出的優先股董事及在其後舉行的股東周年大會或特別大會上選出的每股優先股董事,其任期將於優先股董事獲選後的下一次股東周年大會及優先股董事終止日期(以較早者為準)屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由在任的優先股董事填補,或如無在任的優先股董事,則由AA系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。優先股董事只能由AA系列優先股和股息平價股的持有人根據本第7條選出。如果AA系列優先股和股息平價股的持有人未能選出足夠數量的董事來填補根據本第7條他們有權選舉董事的所有董事職位,則任何未如此填補的董事職位將保持空缺,直到AA系列優先股和股息平價股的持有人根據本第7條推選一人填補該董事職位,或該空缺按照本第7條以其他方式填補;除依照本第7條規定外,公司股東不得擔任任何董事職務。

終止;移走

每當公司在AA系列優先股和任何有權獲得非累積股息的股息平價股票不支付後,在至少連續兩個半年度或連續四個季度股息期內全額支付非累積股息,並且已對任何有權獲得累積股息的股息平價股票全額支付累積股息時,那麼持有人選舉優先股董事的權利將停止(但在未來股息期發生任何類似不支付股息的情況下,授予特別投票權的相同規定除外)(停止的時間,「

優先股董事終止日期

______________________________
“)。
高級發行;不利變化
______________________________

。只要AA系列優先股的任何股份仍未發行,但在符合第7(C)節最後一段的規定下,除特拉華州法律要求的公司股本持有人的任何其他投票或同意外,AA系列優先股至少三分之二投票權的持有人和有權就此投票的任何其他優先股持有人的投票或同意,作為一個單一類別的投票,親自或由代表在公司的年度或特別會議上進行。股東,或在沒有開會的情況下以書面形式提交,將是實施或驗證以下任何行動所必需的,無論特拉華州法律是否需要此類批准:

        

(3)完成涉及AA系列優先股的有約束力的股票交換或重新分類,或公司與另一實體的合併或合併,但AA系列優先股的持有人根據本規定或根據特拉華州法律將沒有投票權,如果在每種情況下(I)AA系列優先股仍未發行,或就任何此類合併或合併而言,公司不是尚存或產生的實體,但轉換或交換尚存或產生的實體或其最終母公司的優先證券,該實體或其最終母公司是根據美利堅合眾國法律組織和存在的實體,任何州或哥倫比亞特區且為美國聯盟所得稅目的的公司(或如果該實體不是公司,則本公司已收到在該等事項方面經驗豐富的全國公認律師的意見,大意是,在該等合併或合併後,持有者將就該等新的優先證券以相同的金額同時及以與在該等合併或合併前的AA系列優先股下的相同方式繳稅),及(Ii)該AA系列優先股仍未發行或該等優先證券,視情況而定,擁有的權利、優先權、特權和投票權,作為一個整體,不比AA系列優先股的權利、優先權、特權和投票權作為一個整體對持有者有實質性的不利影響;

但前提為免生疑問,就股息的支付(不論該等股息是否累積或非累積)及/或在本公司清盤、解散或清盤時的資產分配而言,任何AA系列優先股或任何可轉換為優先股的證券或其他系列優先股或任何可轉換為優先股的證券的設立及發行,或任何可轉換為與AA系列優先股同等及/或低於AA系列優先股的證券的授權或發行金額的增加,將不會被視為對AA系列優先股的投票權、優先權或特別權利產生不利影響。任何股東都無權因本第7條的規定而對此類增發、創設或發行進行投票。如果本第7(C)條規定的任何修訂、變更、廢除、換股、重新分類、合併或合併將對本公司的一個或多個但不是所有優先股系列產生不利影響,則只有受到不利影響並有權就此事投票的優先股系列才應與AA系列一起投票如果贖回,則投反對票





。根據第7(B)或7(C)條,倘於有關表決或同意的行為生效時或之前,本公司應已贖回或已要求贖回AA系列優先股的所有已發行股份,並已發出適當通知及已就該等贖回預留足夠資金,則根據第7(B)或7(C)條,本公司將不需要持有人投票或同意。

第8節.優先購買權和轉換權.

持有者不應因本協定條款而享有任何優先購買權或轉換權。


第9節.職級.

為免生疑問,董事會或其任何正式授權委員會可不經持有人投票而授權及發行額外的初級股票或本公司現有或以後獲授權的任何類別或系列股票的股份,而該等股份在支付股息或在本公司任何自願或非自願清盤、解散或清盤時與AA系列優先股同等。


第10節.重新獲得的股份董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的AA系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。

第11小節. 無償債基金AA系列優先股的股票不受償債基金運作的約束。
第12條轉賬代理人、計算代理人、登記官及付款代理人AA系列優先股的正式指定轉讓代理人、計算代理人、註冊人和支付代理人應為ComputerShare Trust Company,N.A.。公司可根據公司與轉讓代理人之間的協定,全權酌情決定解除轉讓代理人和/或計算代理人;
但前提,公司應指定一名繼任者轉讓代理人和/或計算代理人,該代理人應在該項免職生效前接受該項委任。在任何這種情況下
如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。第14條.表格
AA系列優先股股票
AA系列優先股證書“)。附件A特此併入並明確成為本指定證書的一部分。
簽名兩名高級管理人員應根據公司章程和適用法律,以手工或傳真方式簽署公司的任何AA系列優先股證書。如果在AA系列優先股證書上簽字的高級職員在轉讓代理會籤AA系列優先股證書時不再擔任該職位,則該AA系列優先股證書仍然有效。在轉讓代理的授權簽字人手動加簽AA系列優先股證書之前,AA系列優先股證書無效。每張AA系列優先股證書的日期應為其會籤之日。





第15節.稅收轉讓稅
。本公司須支付與發行或交付AA系列優先股有關的任何及所有股票轉讓、單據、印花稅及類似稅項。然而,本公司無須就發行或交付AA系列優先股股份所涉及的任何轉讓(AA系列優先股股份的登記名稱除外),或就支付予任何人的任何付款(付款予該優先股的登記持有人除外)繳付任何該等稅款,亦無須作出任何該等發行、交付或付款,除非與直至其他有權獲得該等發行、交付或付款的人士已向本公司支付任何該等稅款的款額或已確立令本公司滿意的款額,否則本公司無須支付該等稅款。該等稅項已繳付或無須繳付。扣繳
。對AA系列優先股股票的所有支付和分配(或被視為分配)應在法律要求的範圍內預扣和備用預扣稅款,但須遵守適用的豁免,如果有預扣金額,應視為已由持有人收到。第16條.通告

第17條放棄的其他權利。
花旗集團。發信人:_
/S/邁克爾·韋爾德斯基_姓名:邁克爾·韋爾德斯基
頭銜:財務主管表現出
7.625%固定利率重置非累積優先股表格,AA系列
CUSIP編號:花旗集團
7.625%固定利率重置非累積優先股,AA系列(每股面值1.00美元)(清算優先權每股25,000美元)
花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定的7.625%固定利率重置非累積優先股AA系列的[]繳足股款及免稅股份的登記擁有人,每股面值1.00美元,清算優先股每股25,000美元(“AA系列優先股”)。AA系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。茲參考本文背面列出的AA系列優先股的選擇條款和指定證書,其中選擇的條款和指定證書在所有目的中應具有與此地所述相同的效力。
持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。除非註冊處已適當會籤,否則該等AA系列優先股股份將無權根據指定證書享有任何利益,亦不得就任何目的而具有效力或義務。
本證書由公司代表公司簽署,特此為證[標題]





並通過它的
[標題]_年_月_日。
花旗集團。作者:_姓名:職務:
作者:_姓名:職務:司法常務官會籤
這些是上述指定證書中提及的AA系列優先股的股份。日期:
ComputerShare Trust Company,N.A.為註冊處處長作者:_姓名:職務:
證書的反轉 AA系列優先股每股股份的股息應按照指定證書中規定的費率支付。







AA系列優先股的股份可由公司選擇按照指定證書中規定的方式和條款贖回。 .

(a) 本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。作業 對於收到的價值,以下簽署人將特此證明的AA系列優先股股份轉讓並轉讓給:(如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)並不可撤銷地任命:作為代理人轉讓轉讓代理賬簿上證明的AA系列優先股的股份。代理人可以由他人代為代理。日期:簽名:(與您的名字在本證書的另一面完全相同)簽名保證:___________________________________________________(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)退休證書優先股的比例
(b) 花旗集團的名字。(根據《總則》第243條






(c) 《中華人民共和國公司法》德拉瓦
花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司

德拉瓦

,證明如下:

第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行60,000股A系列5.950%固定/浮動利率非累積優先股(“A系列優先股”),每股面值1.00美元,每股聲明價值25,000美元。

第二:花旗集團已經註銷了A系列優先股的所有授權股份。

第三:根據特拉華州公司法第243條的規定,被指定為優先股A系列的股份現恢復花旗集團優先股的授權但未發行股份的狀態。

特此作證,花旗集團。已促使本證書於2023年11月6日由以下正式授權的助理司庫簽署。
花旗集團





通過
:_/S/艾麗莎·斯坦伯格_.

(a) 艾麗莎·斯坦伯格助理司庫退休證書優先股的比例
(b) 花旗集團的名字。(根據《總則》第243條

(c) 《中華人民共和國公司法》德拉瓦







花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司.

(a) 德拉瓦,證明如下:

(b) 第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行59,800股6.875%固定利率/浮動利率非累積優先股K系列(“K系列優先股”),每股面值1.00美元,每股聲明價值25,000美元。第二:花旗集團已經註銷了優先股K系列的所有授權股份。

第三:根據特拉華州公司法第243條的規定,指定為優先股系列k的股份將恢復花旗集團優先股的授權但未發行股份的狀態。

特此作證,花旗集團。已促使本證書於2024年1月22日由以下正式授權的助理司庫簽署。

花旗集團

通過

:/S/艾麗莎·斯坦伯格_

艾麗莎·斯坦伯格

(c) 助理司庫授權證書






(d) 花旗集團根據《聯合國憲章》第151條德拉瓦州一般公司法花旗集團。


,特拉華州一家公司(“本公司”)特此證明:.

(a) 1.《公司重新註冊證書》(《公司註冊證書》)規定,公司有權發行60億股普通股(每股面值0.01美元)和3000萬股(30,000,000股)優先股,每股面值1.00美元。. 2.公司註冊證書明確授予本公司董事會(“董事會”)權力,規定發行系列優先股股票,並不時確定每個此類系列股票將包括的股份數量,以及確定每個此類系列股票的名稱、權力、優先股和權利及其資格、限制或限制。

(b) 3.根據賦予優先股委員會的權力(“.

(i) 優先股委員會“)經董事會批准,優先股委員會於2024年2月28日正式採取行動,通過決議(I)授權發行和出售至多22,000股本公司的優先股,以及(Ii)批准本最終形式的指定證書7.200固定利率重置非累積優先股BB系列(”





BB系列優先股“),確定納入本BB系列優先股的股份數量,並確定指定、權力、優先和權利本BB系列優先股的股份及其資格、限制或限制如下:第1節.指定.”

(ii) 優先股系列的名稱應為“7.200固定利率重置非累積優先股,BB系列”。BB系列優先股的每一股應在各方面與BB系列優先股的每一股相同。第二節股份數量

(iii) 該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會正式通過的進一步決議案,以及根據特拉華州公司法的規定提交證書,述明有關增加或減少(視乎情況而定)而不時增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的BB系列優先股的股份數目)。第3節.定義





。如本文中關於BB系列優先股所使用的:

(iv) 適當的聯盟銀行機構. 指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中定義的與公司有關的“適當的聯盟銀行機構”。董事會“具有上述演奏會中所闡述的含義。
(c) 工作日“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。






計算代理

“指以計算代理身分行事的轉移代理

BB系列優先股及其繼承人和受讓人。
普通股“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。
保存人





“指DTC或其代名人或本公司委任的任何繼任託管人。
(d)股息支付日期“應具有本協定第4(A)節規定的含義。


紅利期.

“應具有本協定第4(A)節規定的含義。


股息記錄日期.

“應具有本協定第4(A)節規定的含義。


直接轉矩.

」是指存管信託公司。


首次重置日期.

“應具有本協定第4(A)節規定的含義。







保持器.

「是指以其名義登記Bb系列優先股股份的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為Bb系列優先股股份的絕對所有者,以付款和所有其他目的。初級股“指普通股及任何其他類別或系列的


Bb系列優先股現已存在或以後授權的公司.

在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。


不付款.

(a) “應具有本協定第7(B)(I)節規定的含義。. 紐約聯盟儲備銀行的網站“應具有本協定第4(A)節規定的含義。

“指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。. “是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。






優先股董事.

(a) “應具有本協定第7(B)(I)節規定的含義。優先股董事終止日期

(b) “應具有本協定第7(B)(4)節所規定的含義。書記官長

“指以BB系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。.

監管資本事件


“指本公司真誠地決定,由於(I)美國法律或法規(為免生疑問,包括美國的任何機構或機構,包括美聯儲和其他聯盟銀行監管機構)或美國的任何政治分支在BB系列優先股的任何股份首次發行後頒佈或生效的任何修訂、澄清或變更,(Ii)在BB系列優先股的任何股份首次發行後宣佈或生效的該等法律或法規的任何擬議變更,或(Iii)在BB系列優先股的任何股票首次發行後宣佈的解釋或實施與此相關的法律或法規或政策的任何官方行政決定或司法決定或行政行動或其他官方聲明,公司將有權根據當時有效和適用的美聯儲資本充足率指導方針(或如適用,任何後續適當的聯盟銀行機構的資本充足率指導方針或法規)將當時有效且適用的BB系列優先股每股25,000美元的全部清算優先股金額視為“一級資本”(或其等價物),這是一個微不足道的風險。

相關政府機構





“應具有本協定第4(A)節規定的含義。重置日期“指第一個重置日期和每個日期落在前一個重置日期的五週年,而任何重置日期,包括第一個重置日期,將不會因營業日而調整。

重置股利確定日期



“就任何重置期間而言,指該重置期間開始前三個營業日的日期。重置週期
“指從每個重置日期開始幷包括到下一個後續重置日期但不包括在內的期間,不包括初始重置期間,這將是從第一個重置日期開始幷包括第一個重置日期到下一個後續重置日期但不包括在內的期間。





“應具有本協定第5(A)節規定的含義。

BB系列優先股
“應具有本協定第一節所規定的含義。

BB系列優先股證書
“應具有本協定第14(A)節規定的含義。

轉移劑

指北卡羅來納州電腦股份信託公司,這是一個聯盟特許的全國性協會,擔任BB系列優先股及其繼承人和受讓人的轉讓代理、計算代理、登記處和支付代理。
信任
“應具有第6(D)節所給出的含義。

第四節分紅
。當董事會或其任何正式授權的委員會宣佈時,持有人有權獲得BB系列優先股每股的非累積現金股息,金額如下,且不超過於每年2月、5月、8月和11月15日支付的股息,但只能從合法的可用資金中獲得。
股息支付日期

),(I)自發出日期起至2029年5月15日(包括該日期)的季度欠款(包括該日期在內)首次重置日期BB系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。股息記錄日期

“)。任何屬於股息記錄日期的該等日期,不論該日是否為營業日,均為股息記錄日期。


(東部時間)自任何確定日期起,由計算代理全權酌情決定。
·如果沒有提供如上所述的計算,則公司(或該關聯公司)將使用其在諮詢其認為合理的任何來源後單獨酌情確定的替代利率或後續利率,該替代利率或後續利率是(I)行業公認的五年期國庫利率的替代利率或後續利率,或(Ii)如果五年期國庫利率沒有行業接受的替代利率或後續利率,即與五年期國庫利率最接近的替代利率或後續利率。在選擇替代費率或後續費率後,公司(或該關聯公司)

在諮詢其認為合理的任何來源後,可自行酌情確定日數慣例、工作日慣例、營業日的定義、重置股息確定日期和計算替代利率或後續利率的任何其他相關方法或定義,包括其確定的使替代利率或後續利率與五年期國庫利率相當所需的任何調整係數,其方式應與該替代利率或後續利率的任何業界接受的做法保持一致。
五年期國庫券利率將在每次重置股息決定日確定。
如任何股息支付日期並非營業日,則於該日期應付的任何股息將於下一個營業日支付,且不會就任何該等延遲支付任何額外的應計股息或其他付款。





本公司(或其一間聯屬公司)根據上述條文可能作出的任何決定、決定或選擇,包括有關期限、評級或調整或事件、情況或日期的發生或不發生的任何決定,以及採取或不採取任何行動或任何選擇的任何決定,將為最終決定及具約束力,如無明顯錯誤,將由本公司(或該等聯屬公司)全權酌情作出,且,即使本指定證書有任何相反規定,在未經BB系列優先股持有人或任何其他方同意的情況下,將會生效。
任何股息率計算得出的所有百分比,如有必要,將四捨五入至1%(0.0000001)的最接近的1/100,000個百分點,向上舍入百萬分之五個百分點。在BB系列優先股計算中使用或計算得出的所有貨幣金額將舍入到最接近單位的百分之一。為了四捨五入,單位的.005應向上舍入。
非累積股息

。本文中提及的股息“應計”僅指確定股息的數額,並不意味著在宣佈股息之日之前產生任何股息權利。
派息的優先次序
。只要BB系列優先股的任何股份仍未發行,除非關於股息支付日期,BB系列優先股的所有已發行股票的全部股息已宣佈和支付或已宣佈,且金額足以
這些股息的支付已在當時結束的股息期間撥備,本公司將不會,也將不會促使其子公司在下一個股息期間宣佈或支付任何股息,作出任何與之有關的分派,或贖回、購買、收購或支付與之有關的清算款項,或就此支付任何擔保,但以下情況除外:





(I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;
(2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;
(Iii)將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票;
(4)依據初級股票的轉換或交換條款或正在轉換或交換的證券購買該等股票的零碎權益;
(V)公司的一家投資銀行附屬公司購買與分銷有關的初級股票;或
(vi)公司的任何投資銀行子公司在其正常業務過程中購買與做市或其他二級市場活動有關的初級股票。
___________________________________________________
___________________________________________________
本第4(c)條上述條款中規定的限制不適用於公司支付的任何初級股票股息,如果股息的形式與支付股息的股票相同(或購買相同股票的權利)。
___________________________________________________
___________________________________________________
除以下規定外,只要BB系列優先股的任何股份仍未償還,如果BB系列優先股的股票和公司目前存在或以後批准的與BB系列優先股同等級別的任何類別或系列股票在支付股息方面沒有宣佈和全額支付股息,BB系列優先股及該等其他股票所宣派的所有股息將按比例公佈,因此,宣佈每股股息的數額將與BB系列優先股當時的當期股息期每股應計股息與該等其他股票(如屬承擔累積股息的任何該等其他股票,則包括所有應計及未支付股息)的應計股息之間的比率相同。
在不違反上述規定的情況下,董事會或其任何正式授權的委員會可能確定的以現金、股票或其他方式支付的股息,可以從合法可用於此類支付的任何資金中不時就公司任何其他類別或系列的股票宣布和支付,持有人將無權參與這些股息。
___________________________________________________
___________________________________________________
第五節清算權
清算
。如果公司發生任何自願或非自願的清算、解散或結束公司的事務,持有人有權在公司作出任何分配或支付之前,或在公司為任何初級股票持有人預留任何分派或付款之前,從合法的可用資金中,有權在清算時優先於BB系列優先股或與BB系列優先股平價的任何類別或系列股票的持有人的權利以及公司的存款人和其他債權人的權利下,全額獲得每股25,000美元的清算優先股金額的清算分配。
___________________________________________________
BB系列清算優先權
“),加上自上次股息支付日期起至(但不包括)已宣佈但尚未支付的範圍內的清盤、解散或清盤日期的任何應計股息。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。
部分付款







。如本公司的資產不足以全數支付上述向持有人支付的清算分派,以及在本公司任何自願或非自願清盤、解散或清盤時與BB系列優先股同等級別的本公司任何類別或系列股票的持有人所欠的任何清算分配,則支付給持有人及所有該等同等級別股票的持有人的金額應按彼等原本有權獲得的清盤分派總額按比例支付。

合併、合併和出售資產,而不是清算

。就本第5條而言,出售、轉易、交換或轉讓(以現金、股票、證券或其他代價換取)本公司全部或幾乎所有財產及資產,不得視為自願或非自願解散、清盤或清盤本公司事務,亦不得視為本公司與任何其他法團或人士合併、合併或任何其他業務合併交易,或任何其他法團或人士與本公司合併、合併或任何其他業務合併交易,亦不得視為自願或非自願解散、清盤或清盤本公司事務。

第6款. 贖回

可選的贖回

______________________________

。本公司可根據董事會或其任何正式授權委員會的選擇,從合法可供贖回的資金中贖回(I)在首次重置日期或之後開始的任何股息支付日期,在任何時間或不時全部或部分贖回BB系列優先股的股份,或(Ii)在監管資本事件後90天內的任何時間全部但不部分贖回BB系列優先股,每次贖回價格相當於每股25,000美元加上任何已申報和未支付的股息,不累積任何未申報股息,但不包括贖回日,根據下文第6(B)節的規定發出通知。
贖回通知
______________________________

    。郵寄日期至少應在指定的贖回日期前5天至30天。按照第6(B)節的規定郵寄的任何通知應被最終推定為不論持有人是否收到有關通知,該通知已妥為發出,但未能以郵寄方式向指定贖回BB系列優先股股份的任何持有人發出該通知,或該通知中或郵寄上的任何瑕疵,並不影響贖回BB系列優先股任何其他股份的程式的有效性。每份通知應說明:

    
        
        1.    (I)贖回日期;

        2.    

        3.    (Iii)贖回價格;(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及(V)擬贖回股份的股息將於贖回日期停止累算。儘管如上所述,如果證明BB系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。部分贖回

。如於已發行時只贖回BB系列優先股的部分股份,則將予贖回的BB系列優先股的股份須(I)按該等持有人所持BB系列優先股的股份數目按比例向該等持有人選擇,(Ii)以抽籤方式或(Iii)董事會或其任何正式授權委員會全權酌情決定為公平及公平的其他方式選擇。.






贖回的有效性


。如贖回通知已妥為發出,且如在通知所指明的贖回日期當日或之前,本公司已將贖回所需的所有資金,除其其他資產外,按比例撥出,供贖回股份持有人按比例使用,以便可繼續用作贖回,或由本公司存入董事會或其任何正式授權委員會選定的銀行或信託公司(“.

信任


這個公司有權不時從信託收取該等基金應累算的任何利息,而任何被要求贖回的股份的持有人無權申索任何該等利息。於贖回日期起計三年屆滿時,任何如此繳存而無人認領的資金,須在法律許可的範圍內發放或償還予本公司,如已向本公司償還該等款項,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,金額相當於上文所述為贖回該等股份而繳存並已償還予本公司的款項,但在任何情況下均無權獲得任何利息。

第七節投票權一般
除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。特別投票權
投票權。如果及每當BB系列優先股或任何其他類別或系列的優先股在股息支付方面與BB系列優先股平價,而該等優先股的投票權與本條第7(B)(I)條授予並可行使的投票權(此處稱為“股息平價股”)並未宣佈及支付總額相等於至少三個半年度或六個季度股息期(不論是否連續)(a“
不付款“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是
優先股董事選舉
。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。用於選舉優先股董事的股票和任何股息平價股票。優先股董事每人有權就任何事項按董事投一票。
特別會議通知。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書在收到任何此類請求後20天內沒有召開特別會議,則任何持有人可(費用由公司承擔)在收到第7(B)(Iii)條規定的通知後召開該會議,並為此將有權訪問公司的股票登記冊。在任何該等特別會議上選出的優先股董事及在其後舉行的股東周年大會或特別大會上選出的每股優先股董事,其任期將於優先股董事獲選後的下一次股東周年大會及優先股董事終止日期(以較早者為準)屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由仍在任的優先股董事填補,或如無人在任,則由BB系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。優先股董事只能由BB系列優先股和股息平價股的持有人根據本第7條選出。如果BB系列優先股和股息平價股的持有人未能選出足夠數量的董事來填補根據本第7條他們有權選舉董事的所有董事職位,則任何未如此填補的董事職位將保持空缺,直到BB系列優先股和股息平價股的持有人根據本第7條推選一人填補該董事職位,或該空缺按照本第7條以其他方式填補;
終止;移走每當本公司在BB系列優先股和任何有權獲得非累積股息的股息平價股票未支付股息後,至少連續兩個半年度或連續四個季度股息期間全額支付非累積股息,並已就任何有權獲得累積股息的股息平價股票全額支付累計股息,則持有人選舉優先股董事的權利將停止(但始終受關於未來股息期間任何類似不支付股息的特別投票權歸屬的相同規定的規限)(在停止時,“
優先股董事終止日期“)。
高級發行;不利變化。無論特拉華州法律是否需要這樣的批准:
(I)對公司的公司註冊證書(包括設立BB系列優先股的指定證書)或公司章程的任何條款的任何修訂、更改或廢除,該等條款會改變或改變BB系列優先股的投票權、優先股、經濟權利或特別權利,從而對其產生不利影響;





(3)完成涉及BB系列優先股的具有約束力的股票交換或重新分類,或公司與另一實體的合併或合併,但BB系列優先股的持有者根據本規定或根據特拉華州法律將沒有投票權,條件是:(I)BB系列優先股仍未發行,或在任何此類合併或合併的情況下,公司不是尚存或產生的實體,被轉換或交換為尚存或產生的實體或其最終母公司的優先證券,該實體是根據美利堅合眾國法律組織和存在的實體,任何州或哥倫比亞特區且為美國聯盟所得稅目的的公司(或如果該實體不是公司,則本公司已收到在該等事項方面經驗豐富的全國公認律師的意見,大意是,在該等合併或合併後,持有者將就該等新的優先證券以相同的金額同時及以與在該等合併或合併前的BB系列優先股下的相同方式繳稅),及(Ii)該BB系列優先股仍未發行或該等優先證券,

但前提
任何股東均無權因本第7條的規定而對此類增發、創設或發行進行投票。
如果贖回,則投反對票。根據第7(B)或7(C)條,倘於有關表決或同意的行為生效時或之前,本公司應已贖回或已要求贖回BB系列優先股的所有已發行股份,並已發出適當通知及已就該等贖回預留足夠資金,則根據第7(B)或7(C)條,本公司將不需要持有人投票或同意。
第8節.優先購買權和轉換權持有者不應因本協定條款而享有任何優先購買權或轉換權。
第9節.職級為免生疑問,董事會或其任何正式授權委員會可不經持有人投票而授權及發行額外的初級股票或本公司現有或以後獲授權的任何類別或系列股票的股份,而該等股份在支付股息或在本公司任何自願或非自願清盤、解散或清盤時與BB系列優先股同等。
第10節.重新獲得的股份董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的BB系列優先股的股份註銷,並恢復為未指定系列的認可但未發行的優先股的狀態。
第11小節. 無償債基金BB系列優先股的股票不受償債基金運作的約束。
第12條轉賬代理人、計算代理人、登記官及付款代理人BB系列優先股的正式指定轉讓代理人、計算代理人、註冊人和支付代理人應為ComputerShare Trust Company,N.A.公司可根據公司與轉讓代理人之間的協定自行決定解除轉讓代理人和/或計算代理人;
但前提,公司應指定一名繼任者轉讓代理人和/或計算代理人,該代理人應在該項免職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。
第13節殘損、銷毀、被盜和遺失證書的補發證書如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。
BB系列優先股應以證書形式發行,其形式基本上與附件A所示的形式相同(每份,aBB系列優先股證書





“)。附件A特此併入並明確成為本指定證書的一部分。
簽名兩名高級職員應根據公司章程和適用法律,以手工或傳真方式為公司簽署任何BB系列優先股證書。如果在BB系列優先股證書上簽字的高級職員在轉讓代理會籤BB系列優先股證書時不再擔任該職位,則該BB系列優先股證書仍然有效。在轉讓代理的授權簽字人手動加簽BB系列優先股證書之前,BB系列優先股證書無效。每張BB系列優先股證書的日期應為其會籤日期。
第15節.稅收轉讓稅

。本公司應支付與發行或交付BB系列優先股有關的任何及所有股票轉讓、單據、印花稅及類似稅項。然而,本公司無須就發行或交付BB系列優先股股份所涉及的任何轉讓,或就支付給任何人的任何付款,而無須就BB系列優先股股份的登記名稱以外的任何轉讓,或就向任何人支付的任何款項,支付任何該等稅款。0.2328扣繳
第16條.通告
本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發出),並預付郵資:(I)如寄往本公司,則寄往其位於紐約紐約格林威治街388號的辦公室(注意:公司祕書)或寄往馬薩諸塞州02021羅亞爾街150Royall Street的辦公室,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿所載該持有人的地址(可能包括轉讓代理的記錄)或(Iii)本公司或任何該等持有人(視情況而定)以類似方式發出的通知所指定的其他地址。第17條放棄的其他權利。


BB系列優先股股份並無投票權、優先權或相對、參與、選擇或其他特別權利,或其資格、限制或限制,但本文件或本公司註冊證書所載者除外。.

(a) 茲證明,本指定證書已於2024年3月5日由本公司的助理司庫代表本公司簽署。花旗集團。





作者: /S/艾麗莎·斯坦伯格姓名:艾麗莎·斯坦伯格職務:助理財務主管表現出7.200%固定利率重置非累積優先股表格,BB系列股票編號_BB系列優先股股數_CUSIP編號:花旗集團花旗集團,特拉華州一家公司(“本公司”),特此證明[](“持有人”)是本公司指定的7.200%固定利率重置非累積優先股BB系列(“BB系列優先股”)(面值每股1.00美元,清算優先股每股25,000美元)[]已繳足股款及不可評估股份的登記擁有人。BB系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。在此陳述的BB系列優先股的名稱、權利、特權、限制、優先及其他條款及條文,在各方面均受日期為2024年3月5日的指定證書(下稱“指定證書”)的規定所規限。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。茲參考本文背面所列BB系列優先股的精選條款和指定證書,其中精選條款和指定證書在所有目的中應具有與此地所述相同的效力。
(b) 持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。

(c) 本證書由公司代表公司簽署,特此為證[標題]





並通過它的
[標題]

_年_月_日。

花旗集團。

由:_名稱:標題:

由:_名稱:標題:

司法常務官會籤

這些股票是上述指定證書中所指的BB系列優先股。
日期:
ComputerShare Trust Company,N.A.為註冊處處長
由:_名稱:標題:.






(a) 證書的反轉Bb系列優先股每股股份的股息應按照指定證書中規定的利率支付。 Bb系列優先股的股份可由公司選擇按照指定證書中規定的方式和條款贖回。 本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。
(b) 作業 對於收到的價值,以下簽署人將特此證明的Bb系列優先股股份轉讓並轉讓給:

(c) (如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)


並不可撤銷地任命:.

(a) 作為轉讓Bb系列優先股股份的代理人,特此在轉讓代理人的帳簿上證明。 代理人可以代替他人代理。日期:

(b) 簽名:(與您的名字在本證書的另一面完全相同)





簽名保證:___________________________________________________

(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)

退休證書

優先股的比例

花旗集團的名字。

(根據《總則》第243條

州公司法

(c) 德拉瓦花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司德拉瓦,證明如下:

(d) 第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行38,000股J系列固定利率/浮動利率非累積優先股(“J系列優先股”),每股面值1.00美元,每股聲明價值25,000美元。第二:花旗集團已經註銷了J系列優先股的所有授權股份。





第三:根據特拉華州公司法第243條的規定,指定為優先股J系列的股份將恢復花旗集團優先股的授權但未發行股份的狀態。特此作證,花旗集團。已促使本證書於2024年4月2日由以下正式授權的助理司庫簽署。花旗集團


通過.

(a) :/S/艾麗莎·斯坦伯格_. 艾麗莎·斯坦伯格

(b) 助理司庫.

(i) 授權證書7.125%固定利率重置非累積優先股系列CC花旗集團.”






(ii) 根據《聯合國憲章》第151條德拉瓦州一般公司法

(iii) 花旗集團。,特拉華州一家公司(“本公司”)特此證明:

(iv) 1.《公司重新註冊證書》(《公司註冊證書》)規定,公司有權發行60億股普通股(每股面值0.01美元)和3000萬股(30,000,000股)優先股,每股面值1.00美元。.





優先股委員會“)經董事會批准,優先股委員會於2024年5月21日正式採取行動,通過決議(I)授權發行和出售至多70,000股本公司的優先股,以及(Ii)批准本指定證書的最終格式為7.125固定利率重置非累積優先股,CC系列(
(c) “),確定納入本系列CC優先股的股票數量,並確定本系列CC優先股的指定、權力、優先和權利及其資格、限制或限制如下:

第1節.指定

該系列優先股的名稱應為“7.125固定利率重置非累積優先股,CC系列”。CC系列優先股的每一股應在各方面與CC系列優先股的每一股相同。

第二節股份數量





CC系列優先股的授權股數為70,000股。該數目可不時由董事會、優先股委員會或其任何其他正式授權委員會正式通過的進一步決議案,以及根據特拉華州公司法的規定提交證書,述明有關增加或減少(視乎情況而定)而不時增加(但不超過優先股的法定股份總數)或減少(但不低於當時已發行的CC系列優先股的股份數目)。本公司有權發行CC系列優先股的零股。
第3節.定義。如本文針對CC系列優先股所使用的:
適當的聯盟銀行機構
(d)指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中定義的與公司有關的“適當的聯盟銀行機構”。董事會


“具有上述演奏會中所闡述的含義。.

工作日







“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。.

計算代理


「指以計算代理人身份行事的轉讓代理人.

適用於CC系列優先股及其繼任者和轉讓者。


普通股.

“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。


保存人.

“指DTC或其代名人或本公司委任的任何繼任託管人。股息支付日期“應具有本協定第4(A)節規定的含義。


紅利期.

“應具有本協定第4(A)節規定的含義。







股息記錄日期.

(a) “應具有本協定第4(A)節規定的含義。. 直接轉矩」是指存管信託公司。首次重置日期

“應具有本協定第4(A)節規定的含義。保持器. 「指CC系列優先股股份以其名義登記的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為CC系列優先股股份的絕對所有者,以支付付款和所有其他目的。

初級股.

(a) “指普通股及任何其他類別或系列的公司現有或以後授權的CC系列優先股

(b) 在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。不付款

“應具有本協定第7(B)(I)節規定的含義。.

紐約聯盟儲備銀行的網站





“應具有本協定第4(A)節規定的含義。



“指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。





“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。優先股董事

“應具有本協定第7(B)(I)節規定的含義。



優先股董事終止日期“應具有本協定第7(B)(4)節所規定的含義。
書記官長
“指以CC系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。







監管資本事件

“指公司真誠地決定,由於(I)美國法律或法規(為免生疑問,包括美國的任何機構或機構,包括美聯儲和其他聯盟銀行監管機構)或美國的任何政治分支在CC系列優先股首次發行後頒佈或生效的任何修訂、澄清或變更,(Ii)在CC系列優先股的任何股份首次發行後宣佈或生效的該等法律或法規的任何擬議變更,或(Iii)在CC系列優先股首次發行後宣佈的任何解釋或實施與此相關的法律或法規或政策的任何官方行政決定或司法決定或行政行動或其他官方聲明,公司將有權根據當時有效和適用的美聯儲資本充足率指導方針(或任何後續適當的聯盟銀行機構的資本充足率指導方針或法規)的目的,將當時已發行的CC系列優先股每股25,000美元的全部清算優先股金額視為“一級資本”(或其等價物),這是一種微不足道的風險。只要CC系列優先股有任何流通股。
相關政府機構

“應具有本協定第4(A)節規定的含義。
重置日

「是指首次重置日期和上一重置日期五周年的每個日期,並且不會根據工作日調整任何重置日期,包括首次重置日期。

重置股息確定日期
「就任何重置期而言,指該重置期開始前三個工作日的一天。
復位周期

「是指從每個重置日期(包括該日期)到下一個後續重置日期(但不包括該日期)的期間,但初始重置期間除外,該期間將是從(包括)第一個重置日期(包括)到(但不包括)下一個後續重置日期的期間。
CC系列清算偏好
“應具有本協定第5(A)節規定的含義。
CC系列優先股

“應具有本協定第一節所規定的含義。CC系列優先股證書“應具有本協定第14(A)節規定的含義。轉移劑「指Computer share Trust Company,N.A.,一家聯邦特許的全國協會,擔任CC系列優先股及其繼任者和轉讓人的轉讓代理、計算代理、登記處和付款代理。

信任

“應具有第6(D)節所給出的含義。
第四節分紅

。當董事會或其任何正式授權的委員會宣佈時,持有人有權獲得CC系列優先股每股的非累積現金股息,金額如下,且不超過,應於每年2月、5月、8月和11月15日(每個月、月、11月15日)支付,但只能從合法的可用資金中獲得
股息支付日期





),(I)自發出日期起至2029年8月15日(包括該日期)的季度欠款(包括該日期在內)
首次重置日期
自2024年11月15日起,(Ii)自第一個重置日期起(包括首個重置日期),年利率相等於於最近重置股息決定日期(如下所述)的五年期國庫利率加2.693%的清盤優先權每股25,000美元,季度拖欠,自2029年11月15日起生效。
CC系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。

股息記錄日期
“)。任何屬於股息記錄日期的該等日期,不論該日是否為營業日,均為股息記錄日期。
自第一個重置日期或之後開始的任何重置期間,五年期國庫券利率將為:
(東部時間)自任何確定日期起,由計算代理全權酌情決定。
在選擇替代或
根據繼承率,本公司(或該關聯公司)可在諮詢其認為合理的任何來源後自行決定天數約定、營業日約定、營業日的定義、重置股息確定日期和任何其他
計算這種替代利率或後續利率的相關方法或定義,包括它確定的使這種替代利率或後續利率與五年期國庫利率相當所需的任何調整因數,其方式應與該替代利率或後續利率的任何業界接受的做法相一致。
五年期國庫券利率將在每次重置股息決定日確定。
如任何股息支付日期並非營業日,則於該日期應付的任何股息將於下一個營業日支付,且不會就任何該等延遲支付任何額外的應計股息或其他付款。
本公司(或其一間聯屬公司)根據上述條文可能作出的任何決定、決定或選擇,包括任何有關期限、評級或調整或某事件、情況或日期的發生或不發生的決定,以及任何採取或不採取任何行動或任何選擇的決定,在無明顯錯誤的情況下將為最終決定及具約束力,將由本公司(或該等聯屬公司)全權酌情作出,且,即使本指定證書有任何相反規定,在未經CC系列優先股持有人或任何其他方同意的情況下,將會生效。
___________________________________________________
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任何股息率計算得出的所有百分比,如有必要,將四捨五入至1%(0.0000001)的最接近的1/100,000個百分點,向上舍入百萬分之五個百分點。在計算CC系列優先股時使用或產生的所有貨幣金額將舍入到最接近單位的百分之一。為了四捨五入,單位的.005應向上舍入。
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非累積股息
。如果董事會或其任何正式授權的委員會沒有在相關股息支付日期之前的任何股息期間宣佈CC系列優先股的股息,該股息將不會產生,本公司將沒有義務在相關股息支付日期或未來任何時間支付該股息期間的股息,而持有人也無權收取股息,無論是否宣佈了CC系列優先股或任何其他系列優先股或普通股的股息。本文中提及的股息“應計”僅指確定股息的數額,並不意味著在宣佈股息之日之前產生任何股息權利。
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派息的優先次序
。只要CC系列優先股的任何股份仍未發行,除非在股息支付日期CC系列優先股的所有已發行股票的股息已全部宣佈和支付,並已為當時結束的股息期預留足夠支付該等股息的款項,否則本公司不會,也將導致其子公司不會在下一個後續股息期內,
宣佈或支付任何初級股票的股息,進行與之相關的任何分配,或贖回、購買、收購或支付與之相關的清算付款,或就此支付任何擔保,但以下情況除外:





___________________________________________________
(I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;
(2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;
(Iii)將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票;







(4)依據初級股票的轉換或交換條款或正在轉換或交換的證券購買該等股票的零碎權益;

(V)公司的一家投資銀行附屬公司購買與分銷有關的初級股票;或

(Vi)本公司任何投資銀行附屬公司在其日常業務過程中,就與做市或其他二級市場活動有關的事宜而購買初級股票。

本第4(C)節前述規定的限制不適用於公司支付的任何初級股票股息,如果股息的形式與支付股息的股票形式相同(或購買相同股票的權利)。

除以下規定外,只要CC系列優先股的任何股份仍未發行,如果CC系列優先股和公司現有或以後授權的任何類別或系列股票在支付股息方面與CC系列優先股平等,則不宣佈和全額支付股息,對CC系列優先股和其他股票宣佈的所有股息將按比例宣佈,因此每股宣佈的股息額將與CC系列優先股當時的當前股息期每股應計股息和該其他股票(包括任何此類承擔累計股息的其他股票的情況下,所有應計和未支付股息)的應計股息之間的比率相同。

______________________________

在不違反上述規定的情況下,董事會或其任何正式授權的委員會可能確定的以現金、股票或其他方式支付的股息,可以從合法可用於此類支付的任何資金中不時就公司任何其他類別或系列的股票宣布和支付,持有人將無權參與這些股息。
第五節清算權
______________________________

    清算。如果發生任何自願或非自願的清算、解散或結束公司的事務,持有人應有權從合法可用資金中

    
        
        1.    

        2.    

        3.    “),加上自上次股息支付日期起至(但不包括)已宣佈但尚未支付的範圍內的清盤、解散或清盤日期的任何應計股息。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。部分付款。如本公司的資產不足以全數支付上述向持有人支付的清算分派,以及在本公司任何自願或非自願清盤、解散或清盤時向與CC系列優先股同等級別的本公司任何類別或系列股票的持有人支付的任何清算分配,則支付給持有人及所有該等同等級別股票持有人的金額應按彼等原本有權獲得的清盤分派總額按比例支付。合併、合併和出售資產,而不是清算。就本第5條而言,出售、轉易、交換或轉讓(以現金、股票、證券或其他代價換取)本公司全部或幾乎所有財產及資產,不得視為自願或非自願解散、清盤或清盤本公司事務,亦不得視為本公司與任何其他法團或人士合併、合併或任何其他業務合併交易,或任何其他法團或人士與本公司合併、合併或任何其他業務合併交易,亦不得視為自願或非自願解散、清盤或清盤本公司事務。
    
第6款. 贖回.






可選的贖回


。本公司可根據董事會或其任何正式授權委員會的選擇,從合法可供贖回的資金中贖回(I)在首次重置日期或之後開始的任何股息支付日期,在任何時間或不時全部或部分贖回CC系列優先股,或(Ii)在監管資本事件後90天內的任何時間全部但不部分贖回CC系列優先股,每次贖回價格相當於每股25,000美元加上任何已申報和未支付的股息,不累積任何未申報股息,但不包括贖回日,根據下文第6(B)節的規定發出通知。.

贖回通知


。每次贖回CC系列優先股股份的通知應以預付郵資的第一類郵件郵寄給該等股份的持有人,並按其在本公司股票登記冊上的最後地址進行贖回。郵寄日期至少應在指定的贖回日期前5天至30天。按第6(B)節規定郵寄的任何通知應被最終推定為已妥為發出,無論持有人是否收到該通知,但未能以郵寄方式向指定贖回的CC系列優先股股份持有人發出該通知,或該通知或其郵寄中的任何缺陷,並不影響該通知的有效性贖回CC系列優先股的任何其他股份的程式。每份通知應說明:

(I)贖回日期;(2)要贖回的CC系列優先股的股份總數,如果要贖回的股份少於持有人的全部股份,則要贖回的股份數量;
(Iii)贖回價格;(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及
(V)擬贖回股份的股息將於贖回日期停止累算。儘管如上所述,如果證明CC系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。
部分贖回。如於已發行時只贖回CC系列優先股的部分股份,則將予贖回的CC系列優先股的股份應(I)按該等持有人所持CC系列優先股的股份數目按比例向持有人選擇,(Ii)以抽籤方式或(Iii)董事會或其任何正式授權委員會全權酌情決定為公平及公平的其他方式選擇。在符合本第6條規定的情況下,董事會或董事會任何正式授權的委員會有完全的權力和權力規定CC系列優先股股票應不時贖回的條款和條件。
贖回的有效性。如贖回通知已妥為發出,且如在通知所指明的贖回日期當日或之前,本公司已將贖回所需的所有資金,除其其他資產外,按比例撥出,供贖回股份持有人按比例使用,以便可繼續用作贖回,或由本公司存入董事會或其任何正式授權委員會選定的銀行或信託公司(“
信任“)為被要求贖回的股份持有人按比例受益,則即使任何被要求贖回的股份的任何股票尚未交回註銷,但在贖回日期當日及之後,所有被要求贖回的股份將停止發行,與該等股份有關的所有股息將於該贖回日期停止應計,而有關該等股份的所有權利將於該贖回日期立即終止及終止,惟其持有人於贖回日期後任何時間從如此存放的資金中收取贖回應付款項的權利除外。本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。任何如此存放而在贖回後三年內無人認領的款項
應在法律允許的範圍內將贖回日期免除或償還給本公司,如向本公司償還該等款項,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,金額相當於上述為贖回該等股份而繳存並已償還予本公司的款項,但在任何情況下均無權獲得任何利息。第七節投票權
一般除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。
特別投票權投票權
不付款
“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是優先股董事





選舉

。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。在根據上文第7(B)(I)條賦予特別投票權後的任何時間,公司祕書可在CC系列優先股至少20%的投票權持有人或當時已發行的任何系列股息平價股票至少20%的投票權的持有人(該等投票權是根據選舉優先股董事的投票權衡量)的書面要求下(向公司主要辦事處的祕書提出),必須(除非在本公司下屆股東周年大會或特別大會日期前90天內收到有關要求,在此情況下,有關選擇須在該下屆股東周年大會或特別大會上舉行),須為選舉優先股董事而召開CC系列優先股及任何股息平價股的股東特別大會。優先股董事每人有權就任何事項按董事投一票。特別會議通知
。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書在收到任何此類請求後20天內沒有召開特別會議,則任何持有人可(費用由公司承擔)在收到第7(B)(Iii)條規定的通知後召開該會議,並為此將有權訪問公司的股票登記冊。在任何該等特別會議上選出的優先股董事及在其後舉行的股東周年大會或特別大會上選出的每股優先股董事,其任期將於優先股董事獲選後的下一次股東周年大會及優先股董事終止日期(以較早者為準)屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由在任的優先股董事填補,或如無在任的優先股董事,則由CC系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。除依照本第7條規定外,公司股東不得擔任任何董事職務。
終止;移走
每當本公司在CC系列優先股和任何有權獲得非累積股息的股息平價股票未支付股息後,至少連續兩個半年度或連續四個季度股息期間全額支付非累積股息,並已就任何有權獲得累積股息的股息平價股票全額支付累計股息,則持有人選舉優先股董事的權利將停止(但始終受關於未來股息期間任何類似不支付股息的特別投票權歸屬的相同規定的規限)(在停止時,“優先股董事終止日期
“)。高級發行;不利變化
。只要CC系列優先股的任何股份是流通股,但在符合本第7(C)節最後一段的規定下,除特拉華州法律要求的公司股本持有人的任何其他投票或同意外,CC系列優先股至少三分之二投票權的持有人和有權就此投票的任何其他優先股的持有人投票或同意,作為單一類別一起投票,親自或由代表在年度或特別股東會議上投票,或在沒有開會的情況下以書面形式投票,將是實施或驗證以下任何行動所必需的,無論特拉華州法律是否要求此類批准:
(I)對公司公司註冊證書(包括設立CC系列優先股的指定證書)或公司章程的任何條款的任何修訂、更改或廢除,以改變或改變CC系列優先股的投票權、優先股、經濟權利或特別權利,從而對其產生不利影響;
(Iii)完成涉及CC系列優先股的有約束力的股票交換或重新分類,或公司與另一實體的合併或合併,但CC系列優先股的持有人將根據本規定或根據特拉華州法律在以下情況下無權投票:(I)CC系列優先股仍未發行,或在任何此類合併或合併的情況下,公司不是尚存或產生的實體,被轉換或交換為尚存或產生的實體或其最終母公司的優先證券,該實體是根據美利堅合眾國法律組織和存在的實體,視情況而定,擁有對持有人的權利、優先權、特權和投票權整體而言不比CC系列優先股的整體權利、優先權、特權和投票權低的權利、優先權、特權和投票權;但前提
為免生疑問,在支付股息(不論股息是否累積或非累積)及/或本公司清算、解散或清盤時的資產分配方面,任何有關CC系列優先股或可轉換為優先股的其他系列優先股或任何可轉換為優先股的證券的設立及發行,或任何可轉換為與CC系列優先股同等和/或低於CC系列優先股的證券的授權或發行金額的增加,將不會被視為對CC系列優先股的投票權、優先權或特別權利產生不利影響。任何股東都無權因本第7條的規定而對此類增發、創設或發行進行投票。如果本第7(C)條規定的任何修訂、變更、廢除、換股、重新分類、合併或合併將對一個或多個但不是所有系列產生不利影響
如果本公司的優先股的任何類別,則只有受該事項不利影響並有權就該事項投票的優先股系列,才可就該事項與CC系列優先股作為一個單一類別(代替所有其他系列優先股)一起就該事項投票,以達到本條第7(C)條所規定的投票或同意的目的。如果贖回,則投反對票
。根據第7(B)或7(C)條,倘於有關表決或同意的行為生效時或之前,本公司應已贖回或已要求贖回CC系列優先股的所有已發行股份,並已發出適當通知及已就該等贖回預留足夠資金,則根據第7(B)或7(C)條,本公司將不需要持有人投票或同意。第8節.優先購買權和轉換權
持有者不應因本協定條款而享有任何優先購買權或轉換權。第9節.職級
為免生疑問,董事會或其任何正式授權委員會可不經持有人投票而授權及發行額外的初級股票或本公司現有或以後獲授權的任何類別或系列股票的股份,而該等股份在支付股息或在本公司任何自願或非自願清盤、解散或清盤時與CC系列優先股同等。第10節.重新獲得的股份





董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的CC系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。
第11小節. 無償債基金
第12條轉賬代理人、計算代理人、登記官及付款代理人CC系列優先股的正式指定轉讓代理人、計算代理人、註冊人和支付代理人應為ComputerShare Trust Company,N.A.公司可根據公司與轉讓代理人之間的協定,全權酌情解除轉讓代理人和/或計算代理人的職務;

前提是,然而
,公司應指定一名繼任者轉讓代理人和/或計算代理人,該代理人應在該項免職生效前接受該項委任。在任何該等免任或委任後,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。
如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。第14條.表格


系列CC優先股股票.

(a) 系列CC優先股證書





“)。附件A特此併入並明確成為本指定證書的一部分。CC系列優先股證書可能有法律、證券交易所規則、公司遵守的協定(如果有)或慣例所要求的符號、圖例或背書(前提是任何此類符號、圖例或背書採用公司可接受的形式)。簽名如果在CC系列優先股證書上簽字的官員在轉讓代理會籤CC系列優先股證書時不再擔任該職位,則該CC系列優先股證書仍然有效。在轉讓代理的授權簽字人手動加簽CC系列優先股證書之前,CC系列優先股證書無效。每張CC系列優先股證書的日期應為其會籤日期。轉讓稅。該等稅項已繳付或無須繳付。扣繳。對CC系列優先股股票的所有支付和分配(或被視為分配)應在法律要求的範圍內預扣和備用預扣稅款,但須遵守適用的豁免,如果有預扣金額,應視為已由持有人收到。第16條.通告本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發出),並預付郵資:(I)如寄往本公司,則寄往其位於紐約紐約格林威治街388號的辦公室(注意:公司祕書)或寄往馬薩諸塞州02021羅亞爾街150Royall Street的辦公室,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿所載該持有人的地址(可能包括轉讓代理的記錄)或(Iii)本公司或任何該等持有人(視情況而定)以類似方式發出的通知所指定的其他地址。第17條放棄的其他權利。CC系列優先股股份並無投票權、優先權或相對、參與、選擇或其他特別權利,或其資格、限制或限制,但本文件或本公司註冊證書所載者除外。茲證明,本指定證書已於2024年5月28日由本公司的助理司庫代表本公司簽署。
(b) 花旗集團。作者:

(c) 姓名:艾麗莎·斯坦伯格





職務:助理財務主管
表現出

7.125%固定利率重置非累積優先股表格,CC系列

證書編號_CC系列優先股股數_

CUSIP編號:

花旗集團

7.125%固定利率重置非累積優先股,CC系列

(每股面值1.00美元)(清算優先權每股25,000美元)
CC系列優先股的股份可於交回本證書後,親自或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。
茲參考本文背面所列CC系列優先股的精選條款和指定證書,其中精選條款和指定證書在所有目的中應具有與此地所述相同的效力。
持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。.






(a) 除非註冊處已適當會籤,否則該等CC系列優先股無權享有指定證書下的任何利益,或就任何目的而言屬有效或強制性的。本證書由公司代表公司簽署,特此為證[標題]並通過它的
(b) [標題]_年_月_日。

(c) 花旗集團。作者:_姓名:職務:


作者:_姓名:職務:.

(a) 司法常務官會籤這些是上述指定證書中提及的CC系列優先股的股份。

(b) 日期: ComputerShare Trust Company,N.A.為註冊處處長





作者:_姓名:職務:

證書的反轉

每股CC系列優先股的股息應按照指定證書中規定的費率支付。

CC系列優先股的股份可由公司選擇按照指定證書中規定的方式和條款贖回。

本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。

作業

對於收到的價值,以下簽署人將特此證明的CC系列優先股股份轉讓並轉讓給:

(c) (如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)並不可撤銷地任命:作為轉讓CC系列優先股股份的代理人,特此在轉讓代理人的帳簿上證明。

(d) 代理人可以由他人代為代理。日期:





簽名:(與您的名字在本證書的另一面完全相同)簽名保證:___________________________________________________


(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。).

(a) 退休證書. 優先股的比例

(b) 花旗集團的名字。.

(i) (根據《總則》第243條《中華人民共和國公司法》德拉瓦花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司德拉瓦.”






(ii) ,證明如下:第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行50,000股D系列5.350%固定/浮動利率非累積優先股(“D系列優先股”),每股面值1.00美元,每股聲明價值25,000美元。

(iii) 第二:花旗集團已經註銷了D系列優先股的所有授權股份。第三:根據特拉華州公司法第243條的規定,被指定為優先股D系列的股份現恢復花旗集團優先股的授權但未發行股份的狀態。

(iv) 特此作證,花旗集團。. 花旗集團





通過:/S/艾麗莎·斯坦伯格_艾麗莎·斯坦伯格
(c) 助理司庫授權證書


7.000%固定利率重置非累積優先股系列DD






花旗集團
根據《聯合國憲章》第151條德拉瓦州一般公司法
花旗集團。
(d),特拉華州一家公司(“本公司”)特此證明:1.《公司重新註冊證書》(《公司註冊證書》)規定,公司有權發行60億股普通股(每股面值0.01美元)和3000萬股(30,000,000股)優先股,每股面值1.00美元。


.

3.根據賦予優先股委員會的權力(“







優先股委員會.



DD系列優先股.



第1節.指定.

優先股系列的名稱應為“7.000固定利率重置非累積優先股,系列DD”。每一股DD系列優先股在各方面應與DD系列優先股的其他每一股相同。


第二節股份數量.

DD系列優先股的授權股數為60,000股。本公司有權發行DD系列優先股的零碎股份。第3節.定義。如本文針對DD系列優先股所使用的:


適當的聯盟銀行機構.

指1950年修訂的《聯盟存款保險法》第3(Q)節或任何後續條款中定義的與公司有關的“適當的聯盟銀行機構”。


董事會.






(a) “具有上述演奏會中所闡述的含義。. 工作日“指不是紐約市國定假日,也不是法律或法規授權或要求紐約市銀行機構關閉的任何工作日。計算代理

. 普通股

“指每股面值為0.01美元的公司普通股,或該等普通股應重新分類或變更為公司股本的任何其他股份。.

(a) 保存人“指DTC或其代名人或本公司委任的任何繼任託管人。

(b) 股息支付日期“應具有本協定第4(A)節規定的含義。

紅利期.

“應具有本協定第4(A)節規定的含義。





股息記錄日期


“應具有本協定第4(A)節規定的含義。

直接轉矩





」是指存管信託公司。首次重置日期“應具有本協定第4(A)節規定的含義。

保持器



「指DD系列優先股股份以其名義登記的人,公司、計算代理、轉讓代理、登記處和付款代理可將其視為DD系列優先股股份的絕對所有者,以支付付款和所有其他目的。初級股____________________
“指普通股及任何其他類別或系列的
DD系列優先股現已存在或以後授權的公司







在公司的任何自願或非自願清算、解散或清盤時,在支付股息或分配資產方面的優先權或優先權。

不付款
“應具有本協定第7(B)(I)節規定的含義。

紐約聯盟儲備銀行的網站
“應具有本協定第4(A)節規定的含義。


“指本公司的首席執行官、董事長、首席行政官、任何副主席、首席財務官、財務總監、首席會計官、司庫、任何副司庫、任何助理司庫、任何副總裁、總法律顧問兼公司祕書及任何助理祕書。
“是指法人,包括任何個人、公司、房地產、合夥企業、合營企業、協會、股份公司、有限責任公司、信託或者其他實體。

優先股董事
“應具有本協定第7(B)(I)節規定的含義。
優先股董事終止日期
“應具有本協定第7(B)(4)節所規定的含義。

書記官長“指以DD系列優先股登記人的身分行事的轉讓代理及其繼承人和受讓人。監管資本事件只要DD系列優先股的任何股份是流通股。相關政府機構

“應具有本協定第4(A)節規定的含義。
重置日期
“指第一個重置日期和每個日期落在前一個重置日期的五週年,而任何重置日期,包括第一個重置日期,將不會因營業日而調整。
重置股利確定日期

“就任何重置期間而言,指該重置期間開始前三個營業日的日期。
重置週期





系列DD清算優先權
“應具有本協定第5(A)節規定的含義。
DD系列優先股

“應具有本協定第一節所規定的含義。
DD系列優先股證書
“應具有本協定第14(A)節規定的含義。
轉移劑





信任
“應具有第6(D)節所給出的含義。
第四節分紅
。當董事會或其任何正式授權的委員會宣佈時,持有人有權獲得DD系列優先股每股的非累積現金股息,金額如下,且不超過,應於每年2月、5月、8月和11月15日(每個月、月、11月15日)支付,但只能從合法的可用資金中獲得
___________________________________________________
___________________________________________________
股息支付日期
___________________________________________________
___________________________________________________
),(I)自發出日期起至2034年8月15日(包括該日期)的季度欠款(包括該日期在內)
首次重置日期
___________________________________________________
___________________________________________________
自2024年11月15日起,(Ii)自第一個重置日期起(包括首個重置日期),年利率相等於於最近重置股息決定日期(如下所述)的十年期國庫利率加上2.757%的清盤優先股每股25,000美元的季度欠款,自2034年11月15日起生效。
DD系列優先股的股息支付記錄日期將是董事會或董事會任何其他正式授權的委員會確定的記錄日期,該記錄日期不超過該股息支付日期的30天,也不少於該股息支付日期的10天。
股息記錄日期
___________________________________________________
“)。任何屬於股息記錄日期的該等日期,不論該日是否為營業日,均為股息記錄日期。
自第一個重置日期或之後開始的任何重置期間,十年期國庫券利率將為:
·在最近發佈的指定為H.15每日更新的統計新聞稿或任何由聯盟儲備委員會(Federal Reserve Board)截至下午5點發布的後續出版物中,交易活躍的美國國債的收益率調整為固定到期日的十年期國債在五個工作日內的平均收益率,顯示在“財政部固定到期日”的標題下。(東部時間)自任何確定日期起,由計算代理全權酌情決定。








·如果沒有提供如上所述的計算,則公司(或該關聯公司)將使用其在諮詢其認為合理的任何來源後自行決定的替代利率或後續利率,該替代利率或後續利率是(I)行業認可的十年期國債利率的替代利率或繼任者,或(Ii)如果十年期國債利率沒有行業接受的替代利率或繼任者,則為與十年期國債利率最接近的替代利率或後續利率。在選擇替代或

如本公司(或有關聯營公司)在諮詢其認為合理的任何消息來源後,可自行釐定有關替代利率或後續利率的計算方法或定義,包括為使該替代利率或後續利率與十年期國庫利率相若所需的任何調整因素,而釐定的方式須與該替代利率或後續利率的任何業界認可的做法一致。


就任何股息期而言,DD系列優先股的任何股息將按360天年度及12個30天月計算,而“股息期”指自每個股息支付日期起至下一個股息支付日期(但不包括在內)的期間,但不包括初始股息期,即DD系列優先股發行日期起至(但不包括)首個股息支付日期的期間。如任何股息支付日期並非營業日,則於該日期應付的任何股息將於下一個營業日支付,且不會就任何該等延遲支付任何額外的應計股息或其他付款。

本公司(或其一間聯屬公司)根據上述條文可能作出的任何決定、決定或選擇,包括有關期限、評級或調整或事件、情況或日期的發生或不發生的任何決定,以及採取或不採取任何行動或任何選擇的任何決定,在無明顯錯誤的情況下將為最終決定及具約束力,將由本公司(或該等聯屬公司)全權酌情作出,且即使本指定證書有任何相反規定,在未經DD系列優先股持有人或任何其他方同意的情況下,仍應生效。

______________________________

任何股息率計算得出的所有百分比,如有必要,將四捨五入至1%(0.0000001)的最接近的1/100,000個百分點,向上舍入百萬分之五個百分點。在DD系列優先股計算中使用或計算得出的所有貨幣金額將舍入到最接近單位的百分之一。為了四捨五入,單位的.005應向上舍入。
非累積股息
______________________________

    。如果董事會或董事會任何正式授權的委員會在相關股息支付日期之前的任何股息期間沒有宣佈DD系列優先股的股息,該股息將不會產生,本公司將沒有義務在相關股息支付日期或未來任何時間支付該股息期間的股息,而持有人也無權收取該股息期間的股息,無論是否宣佈了DD系列優先股或任何其他系列優先股或普通股的股息。本文中提及的股息“應計”僅指確定股息的數額,並不意味著在宣佈股息之日之前產生任何股息權利。派息的優先次序

    
        
        1.    。只要DD系列優先股的任何股份仍未發行,除非在股息支付日期,DD系列優先股的所有已發行股票的全部股息已經宣佈和支付,並且已為當時結束的股息期間預留了足夠支付該等股息的金額,否則本公司不會,也不會促使其子公司在下一個股息期間宣佈或支付任何股息,或作出任何與任何初級股票有關的分派,或贖回、購買、收購或支付與之相關的任何清算付款,或就此作出任何擔保支付,但以下情況除外:

        2.    (I)因與僱員、高級人員、董事或顧問訂立的任何僱傭合約、福利計劃或其他類似安排或為該等僱員、高級人員、董事或顧問的利益而購買、贖回或以其他方式取得初級股票的股份;

        3.    (2)根據具有合同約束力的要求購買在當時的股息期開始之前存在的普通股,包括根據具有合同約束力的股票回購計劃購買普通股;(Iii)將任何類別或系列的初級股票交換或轉換為任何其他類別或系列的初級股票;(V)公司的一家投資銀行附屬公司購買與分銷有關的初級股票;或(Vi)本公司任何投資銀行附屬公司在其日常業務過程中,就與做市或其他二級市場活動有關的事宜而購買初級股票。
    
本第4(C)節前述規定的限制不適用於公司支付的任何初級股票股息,如果股息的形式與支付股息的股票形式相同(或購買相同股票的權利)。.






除以下規定外,只要DD系列優先股的任何股份仍未償還,如果DD系列優先股和本公司現有或以後授權的任何類別或系列股票在支付股息方面與DD系列優先股平等,則不宣佈和全額支付股息,就DD系列優先股及該等其他股票所宣派的所有股息將按比例申報,因此,宣佈每股股息的數額將與DD系列優先股當時的每股股息期間的應計股息與該等其他股票(包括任何該等承擔累積股息的其他股票,則包括所有應計及未支付股息)當時的每股應計股息之間的比率相同。


在不違反上述規定的情況下,董事會或其任何正式授權的委員會可能確定的以現金、股票或其他方式支付的股息,可以從合法可用於此類支付的任何資金中不時就公司任何其他類別或系列的股票宣布和支付,持有人將無權參與這些股息。.

第五節清算權


清算。如本公司發生任何自動或非自願的清算、解散或結束本公司的事務,持有人應有權在本公司作出任何分派或付款或為任何初級股持有人預留任何分派或付款前,從合法可供動用的資金中,在任何類別或系列股票的持有人於清盤時享有優先於DD系列優先股或與DD系列優先股平價的權利,以及本公司的存款人及其他債權人的權利下,獲得全額的清算分派

每股25,000美元的清盤優先股金額(“系列DD清算優先權
“),加上自上次股息支付日期起至(但不包括)已宣佈但尚未支付的範圍內的清盤、解散或清盤日期的任何應計股息。在公司事務發生任何此類自願或非自願清算、解散或清盤的情況下,持有者無權獲得除本第5條明確規定外的任何進一步付款。部分付款
合併、合併和出售資產,而不是清算
。就本第5條而言,出售、轉易、交換或轉讓(以現金、股票、證券或其他代價換取)本公司全部或幾乎所有財產及資產,不得視為自願或非自願解散、清盤或清盤本公司事務,亦不得視為本公司與任何其他法團或人士合併、合併或任何其他業務合併交易,或任何其他法團或人士與本公司合併、合併或任何其他業務合併交易,亦不得視為自願或非自願解散、清盤或清盤本公司事務。第6款. 贖回
可選的贖回。本公司經董事會或其任何正式授權委員會選擇,可於(I)於首次重置日期或之後開始的任何股息支付日期,於任何時間或不時從已發行的DD系列優先股全部或部分贖回,或(Ii)於監管資本事件發生後90天內的任何時間,以相當於每股25,000美元的贖回價格加上任何已申報及未支付的股息贖回全部或部分DD系列優先股,而不累積任何未申報股息,根據下文第6(B)節的規定發出通知。
贖回通知。每一次贖回DD系列優先股股份的通知應以預付郵資的頭等郵遞方式郵寄給該等股份的持有人,並按其在本公司股票登記冊上的最後地址進行贖回。按本第6(B)條規定郵寄的任何通知應被最終推定為已正式發出,無論持有人是否收到該通知,但未能以郵寄方式向指定贖回DD系列優先股股份的任何持有人發出該通知,或該通知中或郵寄中的任何瑕疵,並不影響贖回任何其他DD系列優先股股份的程式的有效性。每份通知應說明:
(I)贖回日期;(Ii)將贖回的DD系列優先股的股份總數,如要贖回的股份少於持有人的全部股份,則須贖回的股份數目;
(Iii)贖回價格;(Iv)該等股份的股票將於何處交出以支付贖回價格(如適用的話);及
(V)擬贖回股份的股息將於贖回日期停止累算。儘管如上所述,如果證明DD系列優先股股份的證書由託管機構登記持有,而任何相關的託管股份由託管機構或其代名人登記持有,本公司可以託管機構允許的任何方式發出通知。
部分贖回。如於已發行時只贖回部分DD系列優先股,則將予贖回的DD系列優先股股份將由(I)按該等持有人所持有的DD系列優先股股份數目按比例向持有人選擇,(Ii)以整批方式或(Iii)董事會或其任何正式授權委員會全權酌情決定為公平及公平的其他方式。
贖回的有效性。如贖回通知已妥為發出,且如在通知所指明的贖回日期當日或之前,本公司已將贖回所需的所有資金,除其其他資產外,按比例撥出,供贖回股份持有人按比例使用,以便可繼續用作贖回,或由本公司存入董事會或其任何正式授權委員會選定的銀行或信託公司(“





信任

“)為被要求贖回的股份持有人按比例受益,則即使任何被要求贖回的股份的任何股票尚未交回註銷,但在贖回日期當日及之後,所有被要求贖回的股份將停止發行,與該等股份有關的所有股息將於該贖回日期停止應計,而有關該等股份的所有權利將於該贖回日期立即終止及終止,惟其持有人於贖回日期後任何時間從如此存放的資金中收取贖回應付款項的權利除外。本公司有權不時從信託收取該等基金的任何應計利息,而任何被要求贖回的股份的持有人無權要求任何該等權益。在贖回日期起計三年屆滿時,任何如此存放而又無人認領的資金,須在法律許可的範圍內發放或償還予本公司,如已向本公司償還,則被要求贖回的股份持有人應被視為本公司的無抵押債權人,其金額相當於按上文所述繳存以贖回該等股份,並已償還予本公司,但在任何情況下均無權享有任何利息。
第七節投票權
一般
除下文第7(B)節規定或特拉華州公司法要求外,持股人無權對任何事項進行表決。特別投票權
投票權。如果及每當DD系列優先股或任何其他類別或系列的優先股在股息支付方面與DD系列優先股平價,而該等優先股的投票權與本條第7(B)(I)條授予並可行使的投票權(此處稱為“股息平價股”)並未宣佈及支付總額相等於至少三個半年度或六個季度股息期(視何者適用而定)(a“
不付款“),組成董事會的法定董事人數應增加兩人,而股東連同股息平價股持有人有權在不包括普通股持有人的情況下,以單一類別分開投票,而不分類別或系列(投票權按比例分配),以填補該等新設立的董事職位(以及填補該等董事職位的任何空缺)。但當選任何該等董事的資格須為當選該董事不得導致本公司違反紐約證券交易所(或本公司證券可在其上市的其他交易所)的企業管治規定,即上市公司必須有過半數獨立董事,並進一步規定董事會在任何時候不得包括超過兩名該等董事。由股利持有者和股息平價股票持有者共同選出的每一個這樣的董事都是
優先股董事選舉
。優先股董事的選舉將在任何年度股東大會或任何股東特別會議上進行,以及任何股息平價股票的選舉,按本文規定召開。在根據上文第7(B)(I)條賦予特別投票權後的任何時間,公司祕書可在DD系列優先股至少20%的投票權持有人或當時已發行的任何系列股息平價股票至少20%的投票權的持有人(該等投票權是根據選舉優先股董事的投票權衡量)的書面要求下(向公司主要辦事處的祕書提出),必須(除非於本公司下屆股東周年大會或特別大會指定日期前90天內收到有關要求,在此情況下,有關選擇須在該下一屆股東周年大會或特別大會上舉行),就選舉優先股董事而言,須召開DD系列優先股及任何股息平價股的股東特別大會。優先股董事每人有權就任何事項按董事投一票。特別會議通知
。選舉優先股董事的特別會議的通知將以與公司章程中關於股東特別會議的規定類似的方式發出。如果公司祕書沒有召喚一個特別的在收到任何該等要求後20天內,任何持有人均可(費用由本公司承擔)在收到本條第7(B)(Iii)條所規定的通知後召開該會議,並為此可查閱本公司的股票登記冊。在任何該等特別會議上選出的優先股董事及在其後舉行的股東周年大會或特別大會上選出的每股優先股董事,其任期將於優先股董事獲選後的下一次股東周年大會及優先股董事終止日期(以較早者為準)屆滿。倘若優先股董事的職位出現任何空缺(首次選舉優先股董事前除外),該空缺可由在任的優先股董事填補,或如無在任的優先股董事,則由DD系列優先股及任何股息平價股的持有人以多數票選出,作為一個類別一起投票,而如此委任或選出填補該空缺的優先股董事的任期將於下一屆股東周年大會屆滿。優先股董事只能由DD系列優先股和股息平價股的持有人根據本第7條選出。如果DD系列優先股和股息平價股的持有人未能選舉足夠數量的董事來填補根據本第7條他們有權選舉董事的所有董事職位,則任何未如此填補的董事職位將保持空缺,直到DD系列優先股和股息平價股的持有人根據本第7條推選一人填補該董事職位,或該空缺按照本第7條以其他方式填補;除依照本第7條規定外,公司股東不得擔任任何董事職務。
終止;移走當本公司在DD系列優先股和任何有權獲得非累積股息的股息平價股票未支付股息後,至少連續兩個半年度或連續四個季度股息期間全額支付非累積股息,並已就任何有權獲得累積股息的股息平價股票全額支付累計股息,則持有人選舉優先股董事的權利將停止(但始終受關於未來股息期間任何類似不支付股息的特別投票權歸屬的相同規定的規限)(在停止時,“
優先股董事終止日期“)。
高級發行;不利變化。只要DD系列優先股的任何股份仍未發行,但在符合本第7(C)條最後一段的規定下,除特拉華州法律規定的公司股本持有人的任何其他投票或同意外,DD系列優先股至少三分之二投票權的持有人和有權就此投票的任何其他優先股持有人的投票或同意,以及作為一個單一類別一起投票的任何其他優先股持有人,親自或委託代表在公司的年度或特別會議上投票。
股東,或在沒有開會的情況下以書面形式提交,將是實施或驗證以下任何行動所必需的,無論特拉華州法律是否需要此類批准:





(Ii)對本公司的公司註冊證書作出任何修訂或更改,以授權或設立或增加本公司在DD系列優先股之前的任何類別或系列的本公司股本中的任何股份或任何可轉換為股份的證券的核準金額,以支付股息或在本公司的任何清盤、解散或清盤時分配資產;或
(Iii)完成涉及DD系列優先股的有約束力的股票交換或重新分類,或公司與另一實體的合併或合併,但在以下情況下,DD系列優先股的持有人根據本規定或根據特拉華州法律將沒有投票權:(I)DD系列優先股仍未發行,或在任何此類合併或合併的情況下,公司不是尚存或產生的實體,被轉換或交換為尚存或產生的實體或其最終母公司的優先證券,而該實體是根據美利堅合眾國法律組織和存在的實體,任何州或哥倫比亞特區且為美國聯盟所得稅目的的公司(或如果該實體不是公司,則本公司已收到在該等事項方面經驗豐富的全國公認律師的意見,大意是,在該等合併或合併後,持有者將就該等新的優先證券以相同的金額同時及以與在該等合併或合併前的DD系列優先股下的相同方式繳稅),及(Ii)該等DD系列優先股仍未發行或該等優先證券,但前提
為免生疑問,在本公司清盤、解散或清盤時,就股息的支付(不論該等股息是否累積或非累積)及/或資產分配而言,任何增加認可或發行的DD系列優先股或任何可轉換為優先股的證券的金額,或設立及發行其他系列的優先股或任何可轉換為與DD系列優先股同等及/或低於DD系列優先股的證券的授權或發行金額,將不會被視為對DD系列優先股的投票權、優先權或特別權利產生不利影響。任何股東都無權因本第7條的規定而對此類增發、創設或發行進行投票。如果本第7(C)條規定的任何修訂、變更、廢除、換股、重新分類、合併或合併將對本公司的一個或多個但不是所有優先股系列產生不利影響,則只有受到不利影響並有權就此事投票的優先股系列才應與DD系列一起投票

作為單一類別的優先股(代替所有其他系列優先股),用於第7(C)條所要求的表決或同意。如果贖回,則投反對票
。根據第7(B)或7(C)條,倘於有關表決或同意的行為生效時或之前,本公司應已贖回或已要求贖回DD系列優先股的所有已發行股份,並已發出適當通知及已就該等贖回預留足夠資金,則根據第7(B)或7(C)條,本公司將不需要持有人投票或同意。第8節.優先購買權和轉換權
持有者不應因本協定條款而享有任何優先購買權或轉換權。第9節.職級


為免生疑問,董事會或其任何正式授權委員會可不經持有人投票而授權及發行額外的初級股票或本公司現有或以後獲授權的任何類別或系列股票的股份,而該等股份在支付股息或在本公司任何自願或非自願清盤、解散或清盤方面與DD系列優先股同等。.

(a) 第10節.重新獲得的股份董事會應採取必要行動,使本公司已贖回或以其他方式購買或收購的DD系列優先股的股份註銷,並恢復為未指定系列的授權但未發行的優先股的狀態。





第11小節. 無償債基金DD系列優先股的股票不受償債基金運作的約束。第12條轉賬代理人、計算代理人、登記官及付款代理人DD系列優先股的正式指定轉讓代理人、計算代理人、註冊人和支付代理人應為ComputerShare Trust Company,N.A.。公司可根據公司與轉讓代理人之間的協定,全權酌情解除轉讓代理人和/或計算代理人的職務;但前提,公司應指定一名繼任者轉讓代理人和/或計算代理人,該代理人應在該項免職生效前接受該項委任。在任何這種情況下如被免職或獲委任,本公司應以預付郵資的頭等郵遞方式向持有人發出有關通知。第13節殘損、銷毀、被盜和遺失證書的補發證書如果簽發了實物證書,公司應在將證書交還給轉讓代理時更換任何損壞的證書,費用由持有人承擔。在向公司和轉讓代理交付證明證書已被銷毀、被盜或丟失的令人滿意的證據以及轉讓代理和公司可能要求的任何賠償時,公司應更換被銷毀、被盜或丟失的證書,費用由持有者承擔。第14條.表格DD系列優先股股票DD系列優先股證書
(b) “)。附件A特此併入並明確成為本指定證書的一部分。DD系列優先股證書可能有法律、證券交易所規則、本公司須遵守的協定(如有)或慣例所要求的符號、圖例或批註(只要任何該等符號、圖例或批註採用本公司可接受的形式)。簽名

(c) 兩名高級職員應根據公司章程和適用法律,以手工或傳真簽名的方式為公司簽署任何DD系列優先股證書。如果在DD系列優先股證書上簽字的高級職員在轉讓代理會籤DD系列優先股證書時不再擔任該職位,則該DD系列優先股證書仍然有效。在轉讓代理的授權簽字人手動加簽DD系列優先股證書之前,DD系列優先股證書無效。每張DD系列優先股證書的日期應為其會籤日期。第15節.稅收





轉讓稅
。本公司須支付與發行或交付DD系列優先股有關的任何及所有股票轉讓、單據、印花稅及類似稅項。該等稅項已繳付或無須繳付。

扣繳

。對DD系列優先股股票的所有支付和分配(或被視為分配)應在法律要求的範圍內預扣和備用預扣稅款,但須遵守適用的豁免,如果有預扣金額,應視為已由持有人收到。

第16條.通告

本合同提及的所有通知應以書面形式發出,除非本合同另有規定,否則本合同項下的所有通知應視為在收到通知的較早日期或以掛號信或掛號信郵寄後三個工作日發出(除非根據本指定證書的條款,此類通知特別允許以第一類郵件發出),並預付郵資:(I)如寄往本公司,則寄往其位於紐約紐約格林威治街388號的辦公室(注意:公司祕書)或寄往馬薩諸塞州02021羅亞爾街150Royall Street的辦公室,或(Ii)如發給任何持有人,則寄往本公司股票記錄簿所載該持有人的地址(可能包括轉讓代理的記錄)或(Iii)本公司或任何該等持有人(視情況而定)以類似方式發出的通知所指定的其他地址。

第17條放棄的其他權利。

DD系列優先股股份並無投票權、優先權或相對、參與、選擇或其他特別權利,或其資格、限制或限制,但本文件或本公司註冊證書所載者除外。
茲證明,本指定證書已於2024年7月29日由本公司的助理司庫代表本公司簽署。
花旗集團。
作者: .






(a) 職務:助理財務主管表現出
(b)

(c) CUSIP編號:花旗集團


7.000%固定利率重置非累積優先股,DD系列.

(a) DD系列優先股的股份可於交回本證書後,親身或由正式授權的受權人在註冊處的簿冊及記錄上轉讓,並以適當的轉讓形式予以轉讓。此處使用但未定義的大寫術語應具有《指定證書》中賦予它們的含義。公司將在其主要營業地點向公司提出書面要求時,免費向持有人提供指定證書的副本。

(b) 茲參考本文背面所述的DD系列優先股的選擇條款和指定證書,其中選擇的條款和指定證書在所有目的中應具有與此地所述相同的效力。持證人一經收到本證書,即受指定證書的約束,並有權享有該證書所規定的利益。





除非註冊處已適當會籤,否則該等DD系列優先股無權享有指定證書下的任何利益,或就任何目的而言均屬有效或有義務持有。

本證書由公司代表公司簽署,特此為證

[標題]

並通過它的

[標題]

_年_月_日。

花旗集團。

(c) 由:_名稱:標題:由:_名稱:標題:司法常務官會籤這些股票是上述指定證書中所指的DD系列優先股。

(d) 日期: ComputerShare Trust Company,N.A.為註冊處處長





由:_名稱:標題:證書的反轉 DD系列優先股每股股份的股息應按照指定證書中規定的費率支付。


DD系列優先股的股份可由公司選擇按照指定證書中規定的方式和條款贖回。 .

(a) 本公司應免費向提出要求的每一持有人提供本公司發行的每一類別或系列股本的權力、指定、優惠及相對、參與、選擇或其他特別權利,以及該等優惠及/或權利的資格、限制或限制。. 作業

(b) 對於收到的價值,以下簽署人將特此證明的DD系列優先股股份轉讓並轉讓給:.

(i) (如有的話,請填上受讓人的社會保障或納稅人身分證號碼)(填寫受讓人地址和郵遞區號)並不可撤銷地任命:作為轉讓DD系列優先股股份的代理人,特此在轉讓代理的帳簿上證明。 代理人可以代替他人代理。日期:.”






(ii) 簽名:(與您的名字在本證書的另一面完全相同)

(iii) 簽名保證:___________________________________________________(簽字必須由符合條件的“擔保機構”擔保,該機構是銀行、股票經紀人、儲蓄和貸款協會或信用合作社,符合轉讓代理人的要求,該要求包括加入或參與證券轉讓代理人徽章計劃(“印章”)或轉讓代理人可能決定的其他“簽字擔保計劃”,以補充或代替印花,所有這些都符合1934年修訂的證券交易法。)

(iv) 退休證書. 優先股的比例





花旗集團的名字。(根據《總則》第243條州公司法
(c) 德拉瓦

德拉瓦

,證明如下:

第一:花旗集團經修訂的重新註冊證書(“註冊證書”)授權發行70,000股6.300%固定利率/浮動利率非累積優先股M系列(“M系列優先股”),每股面值1美元,每股聲明價值25,000美元。





第二:花旗集團已經註銷了m系列優先股的所有授權股份。
第三:根據特拉華州公司法第243條的規定,被指定為優先股m系列的股份特此恢復花旗集團優先股的授權但未發行股份的狀態。特此作證,花旗集團。
花旗集團
(d)通過/S/艾麗莎·斯坦伯格


艾麗莎·斯坦伯格.

助理司庫







退休證書.

優先股的比例


花旗集團的名字。.

(根據《總則》第243條


《中華人民共和國公司法》.

德拉瓦


花旗集團,根據《中華人民共和國公司法》正式成立並存續的公司.

德拉瓦,證明如下:第一:花旗集團重述的公司註冊證書(經修訂)(「公司註冊證書」)授權發行60,000股5.000%固定利率/浮動利率非累積優先股U系列(「優先股U系列」),每股面值為1.00美金,每股設定價值為25,000美金。


第二:花旗集團已退出U系列優先股的所有授權股份。.

第三:根據德拉瓦州《一般公司法》第243條的規定,指定為U系列優先股的股份特此恢復為花旗集團優先股的授權但未發行股份的狀態。


作為證人,花旗集團有限公司已於2024年9月20日由以下正式授權的助理財務主管簽署本證書。.






(a) 花旗集團. 通過/s/ Elissa Steinberg 伊麗莎·斯坦伯格

助理司庫<img src="https://www.sec.gov/akam/13/pixel_7edab074?a=dD0zNjk0MDAyODhlMDk0YzQxOTY4MjJiZDNkODNlNWQwODY3ODRmZWFjJmpzPW9mZg==" style="visibility: hidden; position: absolute; left: -999px; top: -999px;" />. Two Officers shall sign any Series P Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series P Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series P Preferred Stock Certificate, such Series P Preferred Stock Certificate shall be valid nevertheless. A Series P Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series P Preferred Stock Certificate. Each Series P Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series P Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series P Preferred Stock, in a name other than that in which the shares of Series P Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series P Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three Business Days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 399 Park Avenue, New York, New York 10043 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 250 Royall Street, Canton, Massachusetts 02021, or other agent of the Company





designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.

The shares of Series P Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.





IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Chief Accounting Officer this 23rd day of April, 2015.

CITIGROUP INC.



By: _/s/ Jeffrey R. Walsh_______________________
Name: Jeffrey R. Walsh
Title: Chief Accounting Officer







Exhibit A

FORM OF
5.950% FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK, SERIES P

Certificate Number_______            Number of Shares of Series P Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

5.950% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series P
(par value $1.00 per share)
(liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 5.950% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series P, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series P Preferred Stock”). The shares of Series P Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series P Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated April 23, 2015 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series P Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series P Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of ________, ________.

CITIGROUP INC.

By: _______________________________________
Name:
Title:

By: _______________________________________
Name:
Title:





REGISTRAR’S COUNTERSIGNATURE
These are shares of Series P Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________
Name:
Title:





REVERSE OF CERTIFICATE
    Dividends on each share of Series P Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
    The shares of Series P Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
    FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series P Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series P Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)











CERTIFICATE OF DESIGNATIONS

OF

5.950 % FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK SERIES Q

OF

CITIGROUP INC.

______________________________

pursuant to Sections 151 of the
General Corporation Law of the State of Delaware
______________________________

    Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:

    
        
        1.    The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

        2.    The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

        3.    Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on August 5, 2015, adopted resolutions (i) authorizing the issuance and sale of up to 50,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 5.950% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series Q (the “Series Q Preferred Stock”) establishing the number of shares to be included in this Series Q Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series Q Preferred Stock and the qualifications, limitations or restrictions thereof as follows:
    
Section 1. Designation.






The designation of the Series of preferred stock shall be “5.950% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series Q” (the “Series Q Preferred Stock”). Each share of Series Q Preferred Stock shall be identical in all respects to every other share of Series Q Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series Q Preferred Stock shall be 50,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series Q Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series Q Preferred Stock.


Section 3. Definitions. As used herein with respect to Series Q Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
Business Day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.
Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent for the Series Q Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
Dividend Payment Date” shall have the meaning set forth in Section 4(a) hereof.
Dividend Period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
Holder” means the Person in whose name the shares of the Series Q Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar





and paying agent as the absolute owner of the shares of Series Q Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or Series of stock of the
Company now existing or hereafter authorized over which Series Q Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.
LIBOR Determination Date” means the second London Banking Day immediately preceding the first day of the relevant Dividend Period.
London Banking Day” means any day on which commercial banks are open for general business (including dealings in deposits in United States dollars) in London.
Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series Q Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series Q Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series Q Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series Q Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series Q Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series Q Preferred Stock is outstanding.
Reuters LIBOR01” means the display designated on the Reuters 3000 Xtra Service on page LIBOR01 Page (or such other page as may replace “Reuters LIBOR01” page on the service or such other service as may be nominated by the British Bankers’ Association or other





administrator of LIBOR for the purpose of displaying London interbank offered rates for United States dollar deposits or loans).
Series Q Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series Q Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.

Three-month LIBOR” means the rate (expressed as a percentage per annum) for deposits in United States dollars for a three-month period commencing on the first day of a Dividend Period that appears on the Reuters LIBOR01 page as of 11:00 a.m. (London time) on the LIBOR Determination Date for that Dividend Period. If such rate does not appear on the Reuters LIBOR01 page, Three-month LIBOR will be determined on the basis of the rates at which deposits in United States dollars for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that Dividend Period. The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date for that Dividend Period for loans in United States dollars to leading European banks for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million. However, if fewer than three banks selected by the Calculation Agent to provide quotations are quoting as described above, Three-month LIBOR for that Dividend Period will be the same Three-month LIBOR as determined for the previous Dividend Period or, in the case of the Dividend Period beginning on August 15, 2020, 0.30110%. The determination of Three-month LIBOR for each relevant Dividend Period by the Calculation Agent will (in the absence of manifest error) be final and binding.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series Q Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

(a) Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series Q Preferred Stock in the amounts





specified below in this Section 4, and no more, payable (i) semiannually in arrears on each February 15 and August 15 (each, a “Dividend Payment Date”), beginning February 15, 2016, from and including the date of issuance to, but excluding, August 15, 2020; provided, however, if any such day is not a Business Day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a Business Day, without any interest or other payment in respect of such postponement, and (ii) quarterly in arrears on each February 15, May 15, August 15 and November 15, beginning November 15, 2020, from and including August 15, 2020; provided, however, if any such day is not a Business Day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a Business Day, except if that day falls in the next calendar month, in which case, the payment of any dividend otherwise payable will be made on the immediately preceding Business Day, with dividends accruing to the actual payment date (each such day on which dividends are payable for any Dividend Period (as defined below) after the Dividend Period to but excluding August 15, 2020, a “Dividend Payment Date”). The period from and including the date of issuance of the Series Q Preferred Stock or any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a “Dividend Period.” Dividends on each share of Series Q Preferred Stock will accrue on the liquidation preference of $25,000 per share at a rate per annum equal to (i) 5.950%, for each Dividend Period from and including the date of issuance to, but excluding, August 15, 2020 and (ii) Three-month LIBOR plus 4.095%, for each Dividend Period from and including August 15, 2020. The record date for payment of dividends on the Series Q Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such Dividend Payment Date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a Business Day. The amount of dividends payable on or prior to August 15, 2020 will be computed on the basis of a 360-day year of twelve 30-day months. The amount of dividends payable after August 15, 2020 will be computed on the basis of a 360-day year and the actual number of days elapsed.
(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series Q Preferred Stock for any Dividend Period prior to the related Dividend Payment Date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that Dividend Period on the related Dividend Payment Date or at any future time, whether or not dividends on the Series Q Preferred Stock or any other Series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series Q Preferred Stock remains outstanding, unless as to a Dividend Payment Date full dividends on all outstanding shares of the Series Q Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the Dividend Period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding Dividend Period that commences on such Dividend Payment Date, declare or pay any dividend on, make any





distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current Dividend Period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or Series of Junior Stock for any other class or Series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series Q Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series Q Preferred Stock and any class or Series of stock of the Company now existing or hereafter authorized that ranks equally with the Series Q Preferred Stock in the payment of dividends, all dividends declared upon shares of Series Q Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current Dividend Period per share of Series Q Preferred Stock and accrued dividends for the then-current Dividend Period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or Series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.
Section 5. Liquidation Rights.






(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or Series of stock ranking senior to or on parity with Series Q Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series Q Liquidation Preference”), plus any accrued dividends thereon from the last Dividend Payment Date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or Series of stock of the Company ranking equally with the Series Q Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole or in part, from time to time, the shares of Series Q Preferred Stock at the time outstanding, on any Dividend Payment Date on or after August 15, 2020, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to but excluding the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series Q Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares





to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series Q Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series Q Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series Q Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series Q Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series Q Preferred Stock at the time outstanding, the shares of Series Q Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series Q Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series Q Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends





with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series Q Preferred Stock or any other class or Series of preferred stock that ranks on parity with Series Q Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly Dividend Periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the





written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series Q Preferred Stock or the holders of at least 20% of the voting power of any Series of dividend parity stock (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series Q Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors.  The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders.  If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company.  The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series Q Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series Q Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series Q Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series Q Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Corporation other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly Dividend Periods following a Nonpayment on the Series Q Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any





similar non-payment of dividends in respect of future Dividend Periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series Q Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series Q Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series Q Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series Q Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or Series of the Company's capital stock ranking prior to the Series Q Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series Q Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series Q Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series Q Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having





received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series Q Preferred Stock prior to such merger or consolidation), and (ii) such Series Q Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series Q Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series Q Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other Series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series Q Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series Q Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect the Series Q Preferred Stock but not all Series of preferred stock of the Company, then only such Series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series Q Preferred Stock as a single class (in lieu of all other Series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series Q Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior





Stock or shares of any class or Series of stock of the Company now existing or hereafter authorized that ranks equally with the Series Q Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series Q Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series Q Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series Q Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent in accordance with the agreement between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series Q Preferred Stock Certificates. Series Q Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series Q Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series Q Preferred Stock Certificates may have notations,





legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series Q Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series Q Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series Q Preferred Stock Certificate, such Series Q Preferred Stock Certificate shall be valid nevertheless. A Series Q Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series Q Preferred Stock Certificate. Each Series Q Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series Q Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series Q Preferred Stock, in a name other than that in which the shares of Series Q Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series Q Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three Business Days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 399 Park Avenue, New York, New York 10043 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 250 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.







Section 17. Other Rights Disclaimed.

The shares of Series Q Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.





IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Chief Accounting Officer this 11th day of August, 2015.

CITIGROUP INC.



By: /s/ Jeffrey R. Walsh
Name: Jeffrey R. Walsh
Title: Chief Accounting Officer







Exhibit A

FORM OF
5.950 % FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK, SERIES Q

Certificate Number_______            Number of Shares of Series Q Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

5.950% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series Q
(par value $1.00 per share)
(liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 5.950% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series Q, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series Q Preferred Stock”). The shares of Series Q Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series Q Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated August 11, 2015 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series Q Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series Q Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of ________, ________.

CITIGROUP INC.

By: _______________________________________
Name:
Title:

By: _______________________________________
Name:
Title:





REGISTRAR’S COUNTERSIGNATURE
These are shares of Series Q Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________
Name:
Title:





REVERSE OF CERTIFICATE
    Dividends on each share of Series Q Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
    The shares of Series Q Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
    FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series Q Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series Q Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)








CERTIFICATE OF DESIGNATIONS

OF

6.125 % FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK SERIES R

OF

CITIGROUP INC.

______________________________

pursuant to Sections 103(f) and 151 of the
General Corporation Law of the State of Delaware
______________________________

    Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:

    
        
        1.    The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

        2.    The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

        3.    Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on November 5, 2015, adopted resolutions (i) authorizing the issuance and sale of up to 60,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 6.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series R (the “Series R Preferred Stock”) establishing the number of shares to be included in this Series R Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series R Preferred Stock and the qualifications, limitations or restrictions thereof as follows:
    
Section 1. Designation.






The designation of the Series of preferred stock shall be “6.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series R” (the “Series R Preferred Stock”). Each share of Series R Preferred Stock shall be identical in all respects to every other share of Series R Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series R Preferred Stock shall be 60,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series R Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series R Preferred Stock.


Section 3. Definitions. As used herein with respect to Series R Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
Business Day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.
Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent for the Series R Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
Dividend Payment Date” shall have the meaning set forth in Section 4(a) hereof.
Dividend Period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
Holder” means the Person in whose name the shares of the Series R Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar





and paying agent as the absolute owner of the shares of Series R Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or Series of stock of the
Company now existing or hereafter authorized over which Series R Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.
LIBOR Determination Date” means the second London Banking Day immediately preceding the first day of the relevant Dividend Period.
London Banking Day” means any day on which commercial banks are open for general business (including dealings in deposits in United States dollars) in London.
Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series R Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series R Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series R Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series R Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series R Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series R Preferred Stock is outstanding.
Reuters LIBOR01” means the display designated on the Reuters 3000 Xtra Service on page LIBOR01 Page (or such other page as may replace “Reuters LIBOR01” page on the service or such other service as may be nominated by the British Bankers’ Association or other





administrator of LIBOR for the purpose of displaying London interbank offered rates for United States dollar deposits or loans).
Series R Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series R Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.

Three-month LIBOR” means the rate (expressed as a percentage per annum) for deposits in United States dollars for a three-month period commencing on the first day of a Dividend Period that appears on the Reuters LIBOR01 page as of 11:00 a.m. (London time) on the LIBOR Determination Date for that Dividend Period. If such rate does not appear on the Reuters LIBOR01 page, Three-month LIBOR will be determined on the basis of the rates at which deposits in United States dollars for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that Dividend Period. The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date for that Dividend Period for loans in United States dollars to leading European banks for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million. However, if fewer than three banks selected by the Calculation Agent to provide quotations are quoting as described above, Three-month LIBOR for that Dividend Period will be the same Three-month LIBOR as determined for the previous Dividend Period or, in the case of the Dividend Period beginning on November 15, 2020, 0.3439%. The determination of Three-month LIBOR for each relevant Dividend Period by the Calculation Agent will (in the absence of manifest error) be final and binding.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series R Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

(a) Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series R Preferred Stock in the amounts





specified below in this Section 4, and no more, payable (i) semiannually in arrears on each `May 15 and November 15 (each, a “Dividend Payment Date”), beginning May 15, 2016, from and including the date of issuance to, but excluding, November 15, 2020; provided, however, if any such day is not a Business Day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a Business Day, without any interest or other payment in respect of such postponement, and (ii) quarterly in arrears on each February 15, May 15, August 15 and November 15, beginning February 15, 2021, from and including November 15, 2020; provided, however, if any such day is not a Business Day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a Business Day, except if that day falls in the next calendar month, in which case, the payment of any dividend otherwise payable will be made on the immediately preceding Business Day, with dividends accruing to the actual payment date (each such day on which dividends are payable for any Dividend Period (as defined below) after the Dividend Period to but excluding November 15, 2020, a “Dividend Payment Date”). The period from and including the date of issuance of the Series R Preferred Stock or any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a “Dividend Period.” Dividends on each share of Series R Preferred Stock will accrue on the liquidation preference of $25,000 per share at a rate per annum equal to (i) 6.125%, for each Dividend Period from and including the date of issuance to, but excluding, November 15, 2020 and (ii) Three-month LIBOR plus 4.478%, for each Dividend Period from and including November 15, 2020. The record date for payment of dividends on the Series R Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such Dividend Payment Date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a Business Day. The amount of dividends payable on or prior to November 15, 2020 will be computed on the basis of a 360-day year of twelve 30-day months. The amount of dividends payable after November 15, 2020 will be computed on the basis of a 360-day year and the actual number of days elapsed.
(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series R Preferred Stock for any Dividend Period prior to the related Dividend Payment Date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that Dividend Period on the related Dividend Payment Date or at any future time, whether or not dividends on the Series R Preferred Stock or any other Series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series R Preferred Stock remains outstanding, unless as to a Dividend Payment Date full dividends on all outstanding shares of the Series R Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the Dividend Period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding Dividend Period that commences on such Dividend Payment Date, declare or pay any dividend on, make any





distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current Dividend Period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or Series of Junior Stock for any other class or Series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series R Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series R Preferred Stock and any class or Series of stock of the Company now existing or hereafter authorized that ranks equally with the Series R Preferred Stock in the payment of dividends, all dividends declared upon shares of Series R Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current Dividend Period per share of Series R Preferred Stock and accrued dividends for the then-current Dividend Period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or Series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.
Section 5. Liquidation Rights.






(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or Series of stock ranking senior to or on parity with Series R Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series R Liquidation Preference”), plus any accrued dividends thereon from the last Dividend Payment Date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or Series of stock of the Company ranking equally with the Series R Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole or in part, from time to time, the shares of Series R Preferred Stock at the time outstanding, on any Dividend Payment Date on or after November 15, 2020, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to but excluding the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series R Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares





to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series R Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series R Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series R Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series R Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series R Preferred Stock at the time outstanding, the shares of Series R Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series R Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable; provided, however, that if for so long as the Series R Preferred Stock or depositary shares in respect thereof are listed on the New York Stock Exchange, the foregoing clause (iii) shall apply only if such method of selection is not then prohibited by any then applicable rule of the New York Stock Exchange or the New York Stock Exchange consents to or grants a waiver or exemption from such rule. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series R Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor,





or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series R Preferred Stock or any other class or Series of preferred stock that ranks on parity with Series R Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly Dividend Periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”






(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series R Preferred Stock or the holders of at least 20% of the voting power of any Series of dividend parity stock (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series R Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors.  The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders.  If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company.  The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series R Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series R Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series R Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series R Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Corporation other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly





Dividend Periods following a Nonpayment on the Series R Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future Dividend Periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series R Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series R Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series R Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series R Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or Series of the Company's capital stock ranking prior to the Series R Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series R Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series R Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series R Preferred Stock remains outstanding or, in the case of any such merger or consolidation with





respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series R Preferred Stock prior to such merger or consolidation), and (ii) such Series R Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series R Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series R Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other Series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series R Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series R Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect the Series R Preferred Stock but not all Series of preferred stock of the Company, then only such Series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series R Preferred Stock as a single class (in lieu of all other Series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series R Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.







Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or Series of stock of the Company now existing or hereafter authorized that ranks equally with the Series R Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series R Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series R Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series R Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent in accordance with the agreement between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.






(a) Series R Preferred Stock Certificates. Series R Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series R Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series R Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series R Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series R Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series R Preferred Stock Certificate, such Series R Preferred Stock Certificate shall be valid nevertheless. A Series R Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series R Preferred Stock Certificate. Each Series R Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series R Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series R Preferred Stock, in a name other than that in which the shares of Series R Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series R Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three Business Days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 399 Park Avenue, New York, New York 10043 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 250 Royall Street, Canton, Massachusetts 02021, or other agent of the Company





designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.

The shares of Series R Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.
IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Chief Accounting Officer this 12th day of November, 2015.

CITIGROUP INC.



By: /s/ Jeffrey R. Walsh
Name: Jeffrey R. Walsh
Title: Chief Accounting Officer







Exhibit A

FORM OF
6.125 % FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK, SERIES R

Certificate Number_______            Number of Shares of Series R Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

6.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series R
(par value $1.00 per share)
(liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 6.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series R, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series R Preferred Stock”). The shares of Series R Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series R Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated November 12, 2015 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series R Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series R Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of ________, ________.

CITIGROUP INC.

By: _______________________________________
Name:
Title:

By: _______________________________________
Name:





Title:





REGISTRAR’S COUNTERSIGNATURE
These are shares of Series R Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________
Name:
Title:





REVERSE OF CERTIFICATE
    Dividends on each share of Series R Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
    The shares of Series R Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
    FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series R Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series R Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)












CERTIFICATE OF DESIGNATIONS

OF

6.300% NONCUMULATIVE PREFERRED STOCK SERIES S

OF

CITIGROUP INC.

______________________________

pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

    Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:

    
        
        1.    The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

        2.    The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

        3.    Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on January 26, 2016, adopted resolutions (i) authorizing the issuance and sale of up to 41,400 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 6.300% Noncumulative Preferred Stock, Series S (the “Series S Preferred Stock”) establishing the number of shares to be included in this Series S Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series S Preferred Stock and the qualifications, limitations or restrictions thereof as follows:
    
Section 1. Designation.






The designation of the Series of preferred stock shall be “6.300% Noncumulative Preferred Stock, Series S” (the “Series S Preferred Stock”). Each share of Series S Preferred Stock shall be identical in all respects to every other share of Series S Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series S Preferred Stock shall be 41,400. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series S Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series S Preferred Stock.


Section 3. Definitions. As used herein with respect to Series S Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
Business Day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.
Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent for the Series S Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
Dividend Payment Date” shall have the meaning set forth in Section 4(a) hereof.
Dividend Period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
Holder” means the Person in whose name the shares of the Series S Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar





and paying agent as the absolute owner of the shares of Series S Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or Series of stock of the
Company now existing or hereafter authorized over which Series S Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.
Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series S Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series S Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series S Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series S Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series S Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series S Preferred Stock is outstanding.
Series S Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series S Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series S Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.






Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series S Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

(a) Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series S Preferred Stock in the amounts specified below in this Section 4, and no more, payable quarterly in arrears on each February 12, May 12, August 12 and November 12 (each, a “Dividend Payment Date”), beginning May 12, 2016; provided, however, if any such day is not a Business Day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a Business Day, without any interest or other payment in respect of such postponement (each such day on which dividends are payable for any Dividend Period (as defined below), a “Dividend Payment Date”). The period from and including the date of issuance of the Series S Preferred Stock or any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a “Dividend Period.” Dividends on each share of Series S Preferred Stock will accrue on the liquidation preference of $25,000 per share at a rate per annum equal to 6.300%. The record date for payment of dividends on the Series S Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such Dividend Payment Date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a Business Day. The amount of dividends will be computed on the basis of a 360-day year of twelve 30-day months.
(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series S Preferred Stock for any Dividend Period prior to the related Dividend Payment Date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that Dividend Period on the related Dividend Payment Date or at any future time, whether or not dividends on the Series S Preferred Stock or any other Series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series S Preferred Stock remains outstanding, unless as to a Dividend Payment Date full dividends on all outstanding shares of the Series S Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the Dividend Period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding Dividend Period that commences on such Dividend Payment Date, declare or pay any dividend on, make any





distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current Dividend Period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or Series of Junior Stock for any other class or Series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series S Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series S Preferred Stock and any class or Series of stock of the Company now existing or hereafter authorized that ranks equally with the Series S Preferred Stock in the payment of dividends, all dividends declared upon shares of Series S Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current Dividend Period per share of Series S Preferred Stock and accrued dividends for the then-current Dividend Period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or Series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.
Section 5. Liquidation Rights.






(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or Series of stock ranking senior to or on parity with Series S Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series S Liquidation Preference”), plus any accrued dividends thereon from the last Dividend Payment Date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or Series of stock of the Company ranking equally with the Series S Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole or in part, from time to time, the shares of Series S Preferred Stock at the time outstanding, on any Dividend Payment Date on or after February 12, 2021, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series S Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares





to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series S Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series S Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series S Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series S Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series S Preferred Stock at the time outstanding, the shares of Series S Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series S Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable; provided, however, that if for so long as the Series S Preferred Stock or depositary shares in respect thereof are listed on the New York Stock Exchange, the foregoing clause (iii) shall apply only if such method of selection is not then prohibited by any then applicable rule of the New York Stock Exchange or the New York Stock Exchange consents to or grants a waiver or exemption from such rule. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series S Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor,





or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series S Preferred Stock or any other class or Series of preferred stock that ranks on parity with Series S Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly Dividend Periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”






(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series S Preferred Stock or the holders of at least 20% of the voting power of any Series of dividend parity stock (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series S Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors.  The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders.  If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company.  The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series S Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series S Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series S Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series S Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Corporation other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly





Dividend Periods following a Nonpayment on the Series S Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future Dividend Periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series S Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series S Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series S Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series S Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or Series of the Company's capital stock ranking prior to the Series S Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series S Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series S Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series S Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to





which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series S Preferred Stock prior to such merger or consolidation), and (ii) such Series S Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series S Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series S Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other Series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series S Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series S Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect the Series S Preferred Stock but not all Series of preferred stock of the Company, then only such Series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series S Preferred Stock as a single class (in lieu of all other Series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series S Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.







Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or Series of stock of the Company now existing or hereafter authorized that ranks equally with the Series S Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series S Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series S Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series S Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent in accordance with the agreement between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.






(a) Series S Preferred Stock Certificates. Series S Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series S Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series S Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series S Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series S Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series S Preferred Stock Certificate, such Series S Preferred Stock Certificate shall be valid nevertheless. A Series S Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series S Preferred Stock Certificate. Each Series S Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series S Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series S Preferred Stock, in a name other than that in which the shares of Series S Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series S Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three Business Days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 399 Park Avenue, New York, New York 10043 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 250 Royall Street, Canton, Massachusetts 02021, or other agent of the Company





designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.

The shares of Series S Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.
IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Chief Accounting Officer this 1st day of February, 2016.

CITIGROUP INC.



By: /s/ Jeffrey R. Walsh
Name: Jeffrey R. Walsh
Title: Chief Accounting Officer







Exhibit A

FORM OF
6.300% NONCUMULATIVE PREFERRED STOCK, SERIES S

Certificate Number_______            Number of Shares of Series S Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

6.300% Noncumulative Preferred Stock, Series S
(par value $1.00 per share)
(liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 6.300% Noncumulative Preferred Stock, Series S, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series S Preferred Stock”). The shares of Series S Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series S Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated February 1, 2016 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series S Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series S Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of ________, ________.

CITIGROUP INC.

By: _______________________________________
Name:
Title:

By: _______________________________________
Name:
Title:





REGISTRAR’S COUNTERSIGNATURE
These are shares of Series S Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________
Name:
Title:





REVERSE OF CERTIFICATE
    Dividends on each share of Series S Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
    The shares of Series S Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
    FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series S Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series S Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)









CERTIFICATE OF DESIGNATIONS

OF

6.250% FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK SERIES T

OF

CITIGROUP INC.

______________________________

Pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

    Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:

    
        
        1.    The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

        2.    The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

        3.    Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on April 18, 2016, adopted resolutions (i) authorizing the issuance and sale of up to 60,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 6.250% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series T (the “Series T Preferred Stock”) establishing the number of shares to be included in this Series T Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series T Preferred Stock and the qualifications, limitations or restrictions thereof as follows:
    
Section 1. Designation.






The designation of the Series of preferred stock shall be “6.250% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series T” (the “Series T Preferred Stock”). Each share of Series T Preferred Stock shall be identical in all respects to every other share of Series T Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series T Preferred Stock shall be 60,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series T Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series T Preferred Stock.


Section 3. Definitions. As used herein with respect to Series T Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
Business Day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.
Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent for the Series T Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
Dividend Payment Date” shall have the meaning set forth in Section 4(a) hereof.
Dividend Period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
Holder” means the Person in whose name the shares of the Series T Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar





and paying agent as the absolute owner of the shares of Series T Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or Series of stock of the
Company now existing or hereafter authorized over which Series T Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.
LIBOR Determination Date” means the second London Banking Day immediately preceding the first day of the relevant Dividend Period.
London Banking Day” means any day on which commercial banks are open for general business (including dealings in deposits in United States dollars) in London.
Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series T Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series T Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series T Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series T Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series T Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series T Preferred Stock is outstanding.
Reuters LIBOR01” means the display designated on the Reuters 3000 Xtra Service on page LIBOR01 Page (or such other page as may replace “Reuters LIBOR01” page on the service or such other service as may be nominated by the British Bankers’ Association or other





administrator of LIBOR for the purpose of displaying London interbank offered rates for United States dollar deposits or loans).
Series T Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series T Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series T Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.

Three-month LIBOR” means the rate (expressed as a percentage per annum) for deposits in United States dollars for a three-month period commencing on the first day of a Dividend Period that appears on the Reuters LIBOR01 page as of 11:00 a.m. (London time) on the LIBOR Determination Date for that Dividend Period. If such rate does not appear on the Reuters LIBOR01 page, Three-month LIBOR will be determined on the basis of the rates at which deposits in United States dollars for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that Dividend Period. The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date for that Dividend Period for loans in United States dollars to leading European banks for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million. However, if fewer than three banks selected by the Calculation Agent to provide quotations are quoting as described above, Three-month LIBOR for that Dividend Period will be the same Three-month LIBOR as determined for the previous Dividend Period or, in the case of the Dividend Period beginning on February 15, 2026, 0.6344%. The determination of Three-month LIBOR for each relevant Dividend Period by the Calculation Agent will (in the absence of manifest error) be final and binding.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series T Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).







Section 4. Dividends.

(a) Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series T Preferred Stock in the amounts specified below in this Section 4, and no more, payable (i) semiannually in arrears on each February 15 and August 15 (each, a “Dividend Payment Date”), beginning February 15, 2017, from and including the date of issuance to, but excluding, August 15, 2026; provided, however, if any such day is not a Business Day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a Business Day, without any interest or other payment in respect of such postponement, and (ii) quarterly in arrears on each February 15, May 15, August 15 and November 15, beginning November 15, 2026, from and including August 15, 2026; provided, however, if any such day is not a Business Day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a Business Day, except if that day falls in the next calendar month, in which case, the payment of any dividend otherwise payable will be made on the immediately preceding Business Day, with dividends accruing to the actual payment date (each such day on which dividends are payable for any Dividend Period (as defined below) after the Dividend Period to, but excluding, August 15, 2026, a “Dividend Payment Date”). The period from and including the date of issuance of the Series T Preferred Stock or any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a “Dividend Period.” Dividends on each share of Series T Preferred Stock will accrue on the liquidation preference of $25,000 per share at a rate per annum equal to (i) 6.250%, for each Dividend Period from and including the date of issuance to, but excluding, August 15, 2026 and (ii) Three-month LIBOR plus 4.517%, for each Dividend Period from and including August 15, 2026. The record date for payment of dividends on the Series T Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such Dividend Payment Date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a Business Day. The amount of dividends payable on or prior to August 15, 2026 will be computed on the basis of a 360-day year of twelve 30-day months. The amount of dividends payable after August 15, 2026 will be computed on the basis of a 360-day year and the actual number of days elapsed.
(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series T Preferred Stock for any Dividend Period prior to the related Dividend Payment Date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that Dividend Period on the related Dividend Payment Date or at any future time, whether or not dividends on the Series T Preferred Stock or any other Series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series T Preferred Stock remains outstanding, unless as to a Dividend Payment Date full dividends on all outstanding shares of the





Series T Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the Dividend Period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding Dividend Period that commences on such Dividend Payment Date, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current Dividend Period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or Series of Junior Stock for any other class or Series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series T Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series T Preferred Stock and any class or Series of stock of the Company now existing or hereafter authorized that ranks equally with the Series T Preferred Stock in the payment of dividends, all dividends declared upon shares of Series T Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current Dividend Period per share of Series T Preferred Stock and accrued dividends for the then-current Dividend Period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or Series of stock of the Company from





time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.
Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or Series of stock ranking senior to or on parity with Series T Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series T Liquidation Preference”), plus any accrued dividends thereon from the last Dividend Payment Date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or Series of stock of the Company ranking equally with the Series T Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole or in part, from time to time, the shares of Series T Preferred Stock at the time outstanding, on any Dividend Payment Date on or after August 15, 2026, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without





accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series T Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series T Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series T Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series T Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series T Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series T Preferred Stock at the time outstanding, the shares of Series T Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series T Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series T Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor,





or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series T Preferred Stock or any other class or Series of preferred stock that ranks on parity with Series T Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly Dividend Periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”






(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series T Preferred Stock or the holders of at least 20% of the voting power of any Series of dividend parity stock (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series T Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors.  The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders.  If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company.  The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series T Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series T Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series T Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series T Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Corporation other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly





Dividend Periods following a Nonpayment on the Series T Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future Dividend Periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series T Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series T Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series T Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series T Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or Series of the Company's capital stock ranking prior to the Series T Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series T Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series T Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series T Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to





which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series T Preferred Stock prior to such merger or consolidation), and (ii) such Series T Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series T Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series T Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other Series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series T Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series T Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect the Series T Preferred Stock but not all Series of preferred stock of the Company, then only such Series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series T Preferred Stock as a single class (in lieu of all other Series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series T Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.







Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or Series of stock of the Company now existing or hereafter authorized that ranks equally with the Series T Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series T Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series T Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series T Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent in accordance with the agreement between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.






(a) Series T Preferred Stock Certificates. Series T Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series T Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series T Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series T Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series T Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series T Preferred Stock Certificate, such Series T Preferred Stock Certificate shall be valid nevertheless. A Series T Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series T Preferred Stock Certificate. Each Series T Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series T Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series T Preferred Stock, in a name other than that in which the shares of Series T Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series T Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three Business Days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 250 Royall Street, Canton, Massachusetts 02021, or other agent of





the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.

The shares of Series T Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.





IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Chief Accounting Officer this 22nd day of April, 2016.

CITIGROUP INC.



By: /s/ Jeffrey R. Walsh
Name: Jeffrey R. Walsh
Title: Chief Accounting Officer







Exhibit A

FORM OF
6.250 % FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK, SERIES T

Certificate Number_______            Number of Shares of Series T Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

6.250% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series T
(par value $1.00 per share)
(liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 6.250% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series T, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series T Preferred Stock”). The shares of Series T Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series T Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated April 22, 2016 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series T Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series T Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________
Name:
Title:

By: _______________________________________
Name:
Title:





REGISTRAR’S COUNTERSIGNATURE
These are shares of Series T Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________
Name:
Title:





REVERSE OF CERTIFICATE
    Dividends on each share of Series T Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
    The shares of Series T Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
    FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series T Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series T Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)






CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 149,500 shares of 8.125% Non-Cumulative Preferred Stock, Series AA (the "Preferred Stock, Series AA"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series AA.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series AA are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 20th day of February, 2018.


CITIGROUP INC.


                         By: /s/Elissa Steinberg______________
Elissa Steinberg
Assistant Treasurer






CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 240,000 shares of 8.40% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series E (the "Preferred Stock, Series E"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series E.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series E are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 4th day of May, 2018.


CITIGROUP INC.


                         By:_/s/ Elissa Steinberg____________
                                     Elissa Steinberg
                                      Assistant Treasurer




CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 23,000 shares of 5.80% Non-Cumulative Preferred Stock, Series C (the "Preferred Stock, Series C"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series C.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series C are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 1st day of November, 2018.


CITIGROUP INC.


                         By:_/s/Elissa Steinberg____________
                                     Elissa Steinberg
                                     Assistant Treasurer







CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 19,200 shares of 6.875% Non-Cumulative Preferred Stock, Series L (the "Preferred Stock, Series L"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series L.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series L are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 27th day of February, 2019.


CITIGROUP INC.


By: /s/Elissa Steinberg_____________
                                    Elissa Steinberg
                                    Assistant Treasurer




CERTIFICATE OF DESIGNATIONS

OF

5.000% FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK SERIES U

OF

CITIGROUP INC.

______________________________

pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

    Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:

    
        
        1.    The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

        2.    The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

        3.    Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on September 5, 2019, adopted resolutions (i) authorizing the issuance and sale of up to 60,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 5.000% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series U (the “Series U Preferred Stock”), establishing the number of shares to be included in this Series U Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series U Preferred Stock and the qualifications, limitations or restrictions thereof as follows:
    
Section 1. Designation.

The designation of the Series of preferred stock shall be “5.000% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series U” (the “Series U Preferred Stock”). Each share of



Series U Preferred Stock shall be identical in all respects to every other share of Series U Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series U Preferred Stock shall be 60,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series U Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series U Preferred Stock.


Section 3. Definitions. As used herein with respect to Series U Preferred Stock:

Accrued Dividend Compounding Factor” shall have the meaning set forth in Section 4(a) hereof.
Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Benchmark” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Replacement” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Replacement Adjustment” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Replacement Conforming Changes” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Replacement Date” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Transition Event” shall have the meaning set forth in Section 4(a) hereof.
Board of Directors” has the meaning set forth in the recitals above.
business day”, including with respect to the Fixed Rate Period, means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.
Business Day” with respect to the Floating Rate Period means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed and a U.S. Government Securities Business Day.
Calculation Agent” means Citibank, N.A., London branch, and its successors and assigns.



Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Corresponding Tenor” shall have the meaning set forth in Section 4(a) hereof.

Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
dividend period end date” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
Fixed Rate Period” shall have the meaning set forth in Section 4(a) hereof.
Floating Rate Period” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series U Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series U Preferred Stock for the purpose of making payment and for all other purposes.
ISDA” shall have the meaning set forth in Section 4(a) hereof.
ISDA Definitions” shall have the meaning set forth in Section 4(a) hereof.
ISDA Fallback Adjustment” shall have the meaning set forth in Section 4(a) hereof.
ISDA Fallback Rate” shall have the meaning set forth in Section 4(a) hereof.

Junior Stock” means the Common Stock and any other class or Series of stock of the
Company now existing or hereafter authorized over which Series U Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.



Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Rate Cut-Off Date” shall have the meaning set forth in Section 4(a) hereof.
Reference Time” shall have the meaning set forth in Section 4(a) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series U Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series U Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series U Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series U Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series U Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series U Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
Series U Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series U Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series U Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
SOFR” shall have the meaning set forth in Section 4(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Registrar and paying agent for the Series U Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).
Unadjusted Benchmark Replacement” shall have the meaning set forth in Section 4(a) hereof.
U.S. Government Securities Business Day” shall have the meaning set forth in Section 4(a) hereof.





Section 4. Dividends.

(a) Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series U Preferred Stock in the amounts specified below in this Section 4, and no more, payable (i) semiannually in arrears on each March 12 and September 12, beginning March 12, 2020, from, and including, the date of issuance to, but excluding, September 12, 2024 (the “Fixed Rate Period”); provided, however, if any such day is not a business day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a business day, without any additional dividend accrual or other payment in respect of such postponement, and (ii) quarterly in arrears on the second Business Day following each dividend period end date, beginning on December 16, 2024, from, and including, September 12, 2024 (the “Floating Rate Period”) (each date for payment of dividends, a “dividend payment date”). A “dividend period end date” means the 12th of each March, June, September and December; provided, however, that if any dividend period end date (other than a redemption date) is not a Business Day, then such date will be postponed to the next succeeding Business Day, unless that day falls in the next calendar month, in which case the dividend period end date will be the immediately preceding Business Day. During the Fixed Rate Period, “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Preferred Stock to, but excluding, the first dividend payment date. During the Floating Rate Period, “dividend period” means the period from, and including, each dividend period end date (except for the initial dividend period in the Floating Rate Period, “dividend period” means the period from, and including, September 12, 2024) to, but excluding, the next succeeding dividend period end date; provided that the dividend period following an election by the Company to redeem the Preferred Stock (as described in Section 6(a)) will be the period from, and including, the immediately preceding dividend period end date to, but excluding, the redemption date; and provided further that SOFR (as defined below) for each calendar day from, and including, the Rate Cut-Off Date to, but excluding, the redemption date will equal SOFR in respect of the Rate Cut-Off Date. The Rate Cut-Off Date will be the second U.S. Government Securities Business Day prior to a redemption date. Dividends on each share of Series U Preferred Stock will accrue on the liquidation preference of $25,000 per share at a rate per annum equal to (i) 5.000%, for each dividend period in the Fixed Rate Period and (ii) SOFR (compounding daily over each dividend period as described below) plus 3.813%, for each dividend period in the Floating Rate Period, provided that in no event will the dividend payable on the Preferred Stock be less than zero. The record date for payment of dividends on the Series U Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day. The amount of dividends payable during the Fixed Rate Period will be computed on the basis of a 360-day year of twelve 30-day months. The amount of dividends payable during the Floating Rate Period will be computed on the basis of a 360-day year and the actual number of days elapsed.




For the purposes of calculating any dividend with respect to any dividend period during the Floating Rate Period:

“Accrued Dividend Compounding Factor” means the result of the following formula:


seriesuimagea01.jpg

where

do”, for any dividend period, is the number of U.S. Government Securities Business Days in the relevant dividend period.

i” is a series of whole numbers from one to d0, each representing the relevant U.S. Government Securities Business Day in chronological order from, and including, the first U.S. Government Securities Business Day in the relevant dividend period.

“SOFRi”, for any day “i” in the relevant dividend period, is a reference rate equal to SOFR in respect of that day.

“ni”, for any day “i” in the relevant dividend period, is the number of calendar days from, and including, such U.S. Government Securities Business Day “i” to, but excluding, the following U.S. Government Securities Business Day.

“d” is the number of calendar days in the relevant dividend period.

“U.S. Government Securities Business Day” means any day except for a Saturday, Sunday or a day on which the Securities Industry and Financial Markets Association (SIFMA) recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities.

“SOFR,” with respect to any day, means the rate determined by the Calculation Agent in accordance with the following provisions:

(1)the Secured Overnight Financing Rate for trades made on such day that appears at approximately 3:00 p.m. (New York City time) on the NY Federal Reserve’s website on the U.S. Government Securities Business Day immediately following such U.S. Government Securities Business Day; or

(2)if the rate specified in (1) above does not so appear, unless a Benchmark Transition Event and its related Benchmark Replacement Date have occurred as described in (3) below, the Secured Overnight Financing Rate published on the NY Federal Reserve’s website for the first preceding U.S. Government Securities Business Day for which the Secured Overnight Financing Rate was published on the NY Federal Reserve’s



website; or

(3)if a Benchmark Transition Event and its related Benchmark Replacement Date have
occurred prior to the relevant dividend period end date, the Calculation Agent will use the Benchmark Replacement to determine the rate and for all other purposes relating to the Preferred Stock.

In connection with the SOFR definition above, the following definitions apply:

“Benchmark” means, initially, SOFR; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to SOFR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.

“Benchmark Replacement” means the first alternative set forth in the order below that can be determined by the Company (or one of its affiliates) as of the Benchmark Replacement Date:

(1)the sum of: (a) the alternate rate of interest that has been selected or recommended by
the Relevant Governmental Body as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment; or

(2)the sum of: (a) the ISDA Fallback Rate and (b) the Benchmark Replacement
Adjustment; or

(3)the sum of: (a) the alternate rate of interest that has been selected by the Company (or one of its affiliates) as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for U.S. dollar-denominated floating rate notes at such time and (b) the Benchmark Replacement Adjustment.

“Benchmark Replacement Adjustment” means the first alternative set forth in the order below that can be determined by the Company (or one of its affiliates) as of the Benchmark Replacement Date:

(1)the spread adjustment, or method for calculating or determining such spread
adjustment, (which may be a positive or negative value or zero) that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement;

(2)if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA
Fallback Rate, then the ISDA Fallback Adjustment;

(3)the spread adjustment (which may be a positive or negative value or zero) that has
been selected by the Company (or one of its affiliates) giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining



such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated floating
rate notes at such time.

Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes that the Company (or one of its affiliates) decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if the Company (or such affiliate) decides that adoption of any portion of such market practice is not administratively feasible or if the Company (or such affiliate) determines that no market practice for use of the Benchmark Replacement exists, in such other manner as the Company (or such affiliate) determines is reasonably necessary).

Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:

(1)in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the
later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; or

(2)in the case of clause (3) of the definition of “Benchmark Transition Event,” the date
of the public statement or publication of information referenced therein.

For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark:

(1)a public statement or publication of information by or on behalf of the administrator
of the Benchmark announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark;

(2)a public statement or publication of information by the regulatory supervisor for the
administrator of the Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or



indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark; or

(3)a public statement or publication of information by the regulatory supervisor for the
administrator of the Benchmark announcing that the Benchmark is no longer representative.

Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark.

ISDA” means the International Swaps and Derivatives Association, Inc. or any successor.

ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time.

ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor.

ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.

NY Federal Reserve’s website” means the website of the Federal Reserve Bank of New York (the “NY Federal Reserve”), currently at http://www.newyorkfed.org, or any successor website of the NY Federal Reserve or the website of any successor administrator of the Secured Overnight Financing Rate.

Rate Cut-Off Date” means the second U.S. Government Securities Business Day prior to a redemption date.

Reference Time” with respect to any determination of the Benchmark means the time determined by the Company (or one of its affiliates) in accordance with the Benchmark Replacement Conforming Changes.

Relevant Governmental Body” means the Federal Reserve Board and/or the NY Federal Reserve, or a committee officially endorsed or convened by the Federal Reserve Board and/or the NY Federal Reserve or any successor thereto.

Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.



Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series U Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series U Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series U Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series U Preferred Stock or any other Series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series U Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series U Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period that commences on such dividend payment date during the Fixed Rate Period or dividend period end date during the Floating Rate Period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or Series of Junior Stock for any other class or Series of Junior Stock;




(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series U Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series U Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series U Preferred Stock in the payment of dividends, all dividends declared upon shares of Series U Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series U Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.
Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series U Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series U Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.



(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series U Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole or in part, from time to time, the shares of Series U Preferred Stock at the time outstanding, on September 12, 2024 and on any dividend period end date on or after December 12, 2024, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series U Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 15 days and not more than 60 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series U Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series U Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series U Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;




(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series U Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series U Preferred Stock at the time outstanding, the shares of Series U Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series U Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series U Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.





Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series U Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series U Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series U Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series U Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors.  The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders.  If the secretary of the Company does not



call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company.  The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series U Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series U Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series U Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series U Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Corporation other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series U Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).



(c) Senior Issuances; Adverse Changes. So long as any shares of Series U Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series U Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series U Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series U Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series U Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series U Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series U Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series U Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series U Preferred Stock prior to such merger or consolidation), and (ii) such Series U Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series U Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series U Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series U



Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series U Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series U Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series U Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series U Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series U Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.




Shares of Series U Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Registrar and paying agent for the Series U Preferred Stock shall be Computershare Trust Company, N.A. The duly appointed Calculation Agent for the Series U Preferred Stock shall be Citibank, N.A., London branch. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the respective agreements between the Company and the Transfer Agent and the Company and the Calculation Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series U Preferred Stock Certificates. Series U Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series U Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series U Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series U Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series U Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series U Preferred Stock Certificate, such Series U Preferred Stock Certificate shall be valid nevertheless. A Series U Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series U Preferred Stock Certificate. Each Series U Preferred Stock Certificate shall be dated the date of its countersignature.




Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series U Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series U Preferred Stock, in a name other than that in which the shares of Series U Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series U Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.

The shares of Series U Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.




IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Treasurer this 11th day of September, 2019.

CITIGROUP INC.



By: /s/ Michael Verdeschi_______________________________
Name: Michael Verdeschi
Title: Treasurer





Exhibit A

FORM OF
5.000% FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK, SERIES U

Certificate Number_______            Number of Shares of Series U Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

5.000% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series U
(par value $1.00 per share)
(liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 5.000% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series U, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series U Preferred Stock”). The shares of Series U Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series U Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated September 11, 2019 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series U Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series U Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________
Name:
Title:
By: _______________________________________
Name:
Title:



REGISTRAR’S COUNTERSIGNATURE
These are shares of Series U Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________
Name:
Title:



REVERSE OF CERTIFICATE
    Dividends on each share of Series U Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
    The shares of Series U Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
    FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series U Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series U Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)










CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 60,000 shares of 5.800% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series N (the "Preferred Stock, Series N"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series N.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series N are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 19th day of November, 2019.


    CITIGROUP INC.


By: /s/ Elissa Steinberg________________
    Elissa Steinberg
    Assistant Treasurer










CERTIFICATE OF DESIGNATIONS

OF

4.700% FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK SERIES V

OF

CITIGROUP INC.

______________________________

pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

    Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:

    
        
        1.    The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

        2.    The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

        3.    Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on January 15, 2020, adopted resolutions (i) authorizing the issuance and sale of up to 60,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 4.700% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series V (the “Series V Preferred Stock”), establishing the number of shares to be included in this Series V Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series V Preferred Stock and the qualifications, limitations or restrictions thereof as follows:
    



Section 1. Designation.

The designation of the Series of preferred stock shall be “4.700% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series V” (the “Series V Preferred Stock”). Each share of Series V Preferred Stock shall be identical in all respects to every other share of Series V Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series V Preferred Stock shall be 60,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series V Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series V Preferred Stock.


Section 3. Definitions. As used herein with respect to Series V Preferred Stock:

Accrued Dividend Compounding Factor” shall have the meaning set forth in Section 4(a) hereof.
Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Benchmark” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Replacement” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Replacement Adjustment” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Replacement Conforming Changes” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Replacement Date” shall have the meaning set forth in Section 4(a) hereof.
Benchmark Transition Event” shall have the meaning set forth in Section 4(a) hereof.
Board of Directors” has the meaning set forth in the recitals above.
business day”, including with respect to the Fixed Rate Period, means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.
Business Day” with respect to the Floating Rate Period means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City



are authorized or required by law or regulation to be closed and a U.S. Government Securities Business Day.
Calculation Agent” means Citibank, N.A., London branch, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Corresponding Tenor” shall have the meaning set forth in Section 4(a) hereof.

Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
dividend period end date” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
Fixed Rate Period” shall have the meaning set forth in Section 4(a) hereof.
Floating Rate Period” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series V Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series V Preferred Stock for the purpose of making payment and for all other purposes.
ISDA” shall have the meaning set forth in Section 4(a) hereof.
ISDA Definitions” shall have the meaning set forth in Section 4(a) hereof.
ISDA Fallback Adjustment” shall have the meaning set forth in Section 4(a) hereof.
ISDA Fallback Rate” shall have the meaning set forth in Section 4(a) hereof.

Junior Stock” means the Common Stock and any other class or Series of stock of the
Company now existing or hereafter authorized over which Series V Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting



Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Rate Cut-Off Date” shall have the meaning set forth in Section 4(a) hereof.
Reference Time” shall have the meaning set forth in Section 4(a) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series V Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series V Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series V Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series V Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series V Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series V Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
Series V Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series V Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series V Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
SOFR” shall have the meaning set forth in Section 4(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Registrar and paying agent for the Series V Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).



Unadjusted Benchmark Replacement” shall have the meaning set forth in Section 4(a) hereof.
U.S. Government Securities Business Day” shall have the meaning set forth in Section 4(a) hereof.


Section 4. Dividends.

(a)Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series V Preferred Stock in the amounts specified below in this Section 4, and no more, payable (i) semiannually in arrears on each January 30 and July 30, beginning July 30, 2020, from, and including, the date of issuance to, but excluding, January 30, 2025 (the “Fixed Rate Period”); provided, however, if any such day is not a business day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a business day, without any additional dividend accrual or other payment in respect of such postponement, and (ii) quarterly in arrears on the second Business Day following each dividend period end date, beginning on May 2, 2025, from, and including, January 30, 2025 (the “Floating Rate Period”) (each date for payment of dividends, a “dividend payment date”). A “dividend period end date” means the 30th of each January, April, July and October, beginning April 30, 2025; provided, however, that if any dividend period end date (other than a redemption date) is not a Business Day, then such date will be postponed to the next succeeding Business Day, unless that day falls in the next calendar month, in which case the dividend period end date will be the immediately preceding Business Day. During the Fixed Rate Period, “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Preferred Stock to, but excluding, the first dividend payment date. During the Floating Rate Period, “dividend period” means the period from, and including, each dividend period end date (except for the initial dividend period in the Floating Rate Period, “dividend period” means the period from, and including, January 30, 2025) to, but excluding, the next succeeding dividend period end date; provided that the dividend period following an election by the Company to redeem the Preferred Stock (as described in Section 6(a)) will be the period from, and including, the immediately preceding dividend period end date to, but excluding, the redemption date; and provided further that SOFR (as defined below) for each calendar day from, and including, the Rate Cut-Off Date to, but excluding, the redemption date will equal SOFR in respect of the Rate Cut-Off Date. The Rate Cut-Off Date will be the second U.S. Government Securities Business Day prior to a redemption date.

Dividends on each share of Series V Preferred Stock will accrue on the liquidation preference of $25,000 per share at a rate per annum equal to (i) 4.700%, for each dividend period in the Fixed Rate Period and (ii) SOFR (compounding daily over each dividend period as described below) plus 3.234%, for each dividend period in the



Floating Rate Period, provided that in no event will the dividend payable on the Preferred Stock be less than zero. The record date for payment of dividends on the Series V Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day. The amount of dividends payable during the Fixed Rate Period will be computed on the basis of a 360-day year of twelve 30-day months. The amount of dividends payable during the Floating Rate Period will be computed on the basis of a 360-day year and the actual number of days elapsed.

For the purposes of calculating any dividend with respect to any dividend period during the Floating Rate Period:

“Accrued Dividend Compounding Factor” means the result of the following formula:

            seriesuimagea01.jpg






where

do”, for any dividend period, is the number of U.S. Government Securities Business Days in the relevant dividend period.

i” is a series of whole numbers from one to d0, each representing the relevant U.S. Government Securities Business Day in chronological order from, and including, the first U.S. Government Securities Business Day in the relevant dividend period.

“SOFRi”, for any day “i” in the relevant dividend period, is a reference rate equal to SOFR in respect of that day.

“ni”, for any day “i” in the relevant dividend period, is the number of calendar days from, and including, such U.S. Government Securities Business Day “i” to, but excluding, the following U.S. Government Securities Business Day.

“d” is the number of calendar days in the relevant dividend period.




“U.S. Government Securities Business Day” means any day except for a Saturday, Sunday or a day on which the Securities Industry and Financial Markets Association (SIFMA) recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities.

“SOFR,” with respect to any day, means the rate determined by the Calculation Agent in accordance with the following provisions:

(1)the Secured Overnight Financing Rate for trades made on such day that appears at approximately 3:00 p.m. (New York City time) on the NY Federal Reserve’s website on the U.S. Government Securities Business Day immediately following such U.S. Government Securities Business Day; or

(2)if the rate specified in (1) above does not so appear, unless a Benchmark Transition Event and its related Benchmark Replacement Date have occurred as described in (3) below, the Secured Overnight Financing Rate published on the NY Federal Reserve’s website for the first preceding U.S. Government Securities Business Day for which the Secured Overnight Financing Rate was published on the NY Federal Reserve’s
website; or

(3)if a Benchmark Transition Event and its related Benchmark Replacement Date have
occurred prior to the relevant dividend period end date, the Calculation Agent will use the Benchmark Replacement to determine the rate and for all other purposes relating to the Preferred Stock.

In connection with the SOFR definition above, the following definitions apply:

“Benchmark” means, initially, SOFR; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to SOFR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.

“Benchmark Replacement” means the first alternative set forth in the order below that can be determined by the Company (or one of its affiliates) as of the Benchmark Replacement Date:

(1)the sum of: (a) the alternate rate that has been selected or recommended by
the Relevant Governmental Body as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment;

(2)the sum of: (a) the ISDA Fallback Rate and (b) the Benchmark Replacement
Adjustment; or

(3)the sum of: (a) the alternate rate that has been selected by the Company (or one of its affiliates) as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any industry-accepted rate as a



replacement for the then-current Benchmark for U.S. dollar-denominated floating rate notes at such time and (b) the Benchmark Replacement Adjustment.

“Benchmark Replacement Adjustment” means the first alternative set forth in the order below that can be determined by the Company (or one of its affiliates) as of the Benchmark Replacement Date:

(1)the spread adjustment, or method for calculating or determining such spread
adjustment, (which may be a positive or negative value or zero) that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement;

(2)if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA
Fallback Rate, then the ISDA Fallback Adjustment;

(3)the spread adjustment (which may be a positive or negative value or zero) that has
been selected by the Company (or one of its affiliates) giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated floating
rate notes at such time.

Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes that the Company (or one of its affiliates) decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if the Company (or such affiliate) decides that adoption of any portion of such market practice is not administratively feasible or if the Company (or such affiliate) determines that no market practice for use of the Benchmark Replacement exists, in such other manner as the Company (or such affiliate) determines is reasonably necessary).

Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:

(1)in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the
later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; or

(2)in the case of clause (3) of the definition of “Benchmark Transition Event,” the date
of the public statement or publication of information referenced therein.

For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.




Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark:

(1)a public statement or publication of information by or on behalf of the administrator
of the Benchmark announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark;

(2)a public statement or publication of information by the regulatory supervisor for the
administrator of the Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark; or

(3)a public statement or publication of information by the regulatory supervisor for the
administrator of the Benchmark announcing that the Benchmark is no longer representative.

Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark.

ISDA” means the International Swaps and Derivatives Association, Inc. or any successor thereto.

ISDA Definitions” means the 2006 ISDA Definitions published by ISDA, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time.

ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor.

ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.




NY Federal Reserve’s website” means the website of the Federal Reserve Bank of New York (the “NY Federal Reserve”), currently at http://www.newyorkfed.org, or any successor website of the NY Federal Reserve or the website of any successor administrator of the Secured Overnight Financing Rate.

Rate Cut-Off Date” means the second U.S. Government Securities Business Day prior to a redemption date.

Reference Time” with respect to any determination of the Benchmark means the time determined by the Company (or one of its affiliates) in accordance with the Benchmark Replacement Conforming Changes.

Relevant Governmental Body” means the Federal Reserve Board and/or the NY Federal Reserve, or a committee officially endorsed or convened by the Federal Reserve Board and/or the NY Federal Reserve or any successor thereto.

Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series V Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series V Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series V Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series V Preferred Stock or any other Series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series V Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the



Series V Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period that commences on such dividend payment date during the Fixed Rate Period or dividend period end date during the Floating Rate Period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or Series of Junior Stock for any other class or Series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series V Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series V Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series V Preferred Stock in the payment of dividends, all dividends declared upon shares of Series V Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series V Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee



thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.



Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series V Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series V Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series V Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole or in part, from time to time, the shares of Series V Preferred Stock at the time outstanding, on January 30, 2025 and on any dividend period end date on or after April 30, 2025, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.




(b) Notice of Redemption. Notice of every redemption of shares of Series V Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series V Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series V Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series V Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series V Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series V Preferred Stock at the time outstanding, the shares of Series V Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series V Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series V Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any



share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series V Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series V Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend



parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series V Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series V Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors.  The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders.  If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company.  The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series V Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series V Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series V Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series V Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Corporation other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series V Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the



right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series V Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series V Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series V Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series V Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series V Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series V Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series V Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series V Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of



America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series V Preferred Stock prior to such merger or consolidation), and (ii) such Series V Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series V Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series V Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series V Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series V Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series V Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series V Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.





Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series V Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series V Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series V Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Registrar and paying agent for the Series V Preferred Stock shall be Computershare Trust Company, N.A. The duly appointed Calculation Agent for the Series V Preferred Stock shall be Citibank, N.A., London branch. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the respective agreements between the Company and the Transfer Agent and the Company and the Calculation Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.





Section 14. Form.

(a) Series V Preferred Stock Certificates. Series V Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series V Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series V Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series V Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series V Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series V Preferred Stock Certificate, such Series V Preferred Stock Certificate shall be valid nevertheless. A Series V Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series V Preferred Stock Certificate. Each Series V Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series V Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series V Preferred Stock, in a name other than that in which the shares of Series V Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series V Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388



Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.

The shares of Series V Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.
Series V 

IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Treasurer this 22nd day of January, 2020.

CITIGROUP INC.



By: _/s/ Michael Verdeschi________________________
Name: Michael Verdeschi
Title: Treasurer





Exhibit A

FORM OF
4.700% FIXED RATE / FLOATING RATE NONCUMULATIVE PREFERRED STOCK, SERIES V

Certificate Number_______            Number of Shares of Series V Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

4.700% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series V
(par value $1.00 per share)
(liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 4.700% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series V, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series V Preferred Stock”). The shares of Series V Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series V Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated January 22, 2020 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series V Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series V Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________
Name:
Title:

By: _______________________________________
Name:



Title:
REGISTRAR’S COUNTERSIGNATURE
These are shares of Series V Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________
Name:
Title:
REVERSE OF CERTIFICATE
    Dividends on each share of Series V Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
    The shares of Series V Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
    FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series V Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series V Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:



___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)







                 CERTIFICATE OF RETIREMENT
                 OF PREFERRED STOCK
                    OF CITIGROUP INC.
                (Pursuant to Section 243 of the General
                Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 60,000 shares of 5.875% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series O (the "Preferred Stock, Series O"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series O.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series O are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 31st day of March, 2020.


CITIGROUP INC


By: /s/ Elissa Steinberg______________
Elissa Steinberg
Assistant Treasurer








CERTIFICATE OF DESIGNATIONS

OF

4.000% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK SERIES W

OF

CITIGROUP INC.

______________________________
pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:



1. The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

2. The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

3. Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on December 3, 2020, adopted resolutions (i) authorizing the issuance and sale of up to 60,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 4.000% Fixed Rate Reset Noncumulative Preferred Stock, Series W (the “Series W Preferred Stock”), establishing the number of shares to be included in this Series W Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series W Preferred Stock and the qualifications, limitations or restrictions thereof as follows:

Section 1. Designation.




The designation of the series of preferred stock shall be “4.000% Fixed Rate Reset Noncumulative Preferred Stock, Series W”. Each share of Series W Preferred Stock shall be identical in all respects to every other share of Series W Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series W Preferred Stock shall be 60,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series W Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series W Preferred Stock.


Section 3. Definitions. As used herein with respect to Series W Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
business day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.
Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent
for the Series W Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.

Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
First Reset Date” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series W Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series W Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or series of stock of the
Company now existing or hereafter authorized over which Series W Preferred Stock has



preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series W Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series W Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series W Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series W Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series W Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series W Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
reset date” means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.

reset dividend determination date” means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.

reset period” means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.

Series W Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.



Series W Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series W Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series W Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

a.Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series W Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 10th of each March, June, September and December (each, a “dividend payment date”), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, December 10, 2025 (the “First Reset Date”), at an annual rate of 4.000% on the liquidation preference of $25,000 per share, beginning on March 10, 2021, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the five-year treasury rate as of the most recent reset dividend determination date (as described below) plus 3.597% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on March 10, 2026.

The record date for payment of dividends on the Series W Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.

For any reset period beginning on or after the First Reset Date, the five-year treasury rate will be:

• The average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five business days appearing under the caption “Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board as of 5:00 p.m. (Eastern Time) as of any date of determination, as determined by the Calculation Agent in its sole discretion.

• If no calculation is provided as described above, then the Company (or such affiliate) will use a substitute or successor rate that it has determined, in its sole discretion after consulting any source it deems to be reasonable, is (i) the industry-accepted substitute or successor for the five-year treasury rate or (ii) if there is no such industry-accepted substitute or successor for the five-year treasury rate, a substitute or successor rate that is most comparable to the five-year treasury rate. Upon selection of a substitute or



successor rate, the Company (or such affiliate) may determine, in its sole discretion after consulting any source it deems to be reasonable, the day count convention, the business day convention, the definition of business day, the reset dividend determination date and any other relevant methodology or definition for calculating such substitute or successor rate, including any adjustment factor it determines is needed to make such substitute or successor rate comparable to the five-year treasury rate, in a manner that is consistent with any industry-accepted practices for such substitute or successor rate.

The five-year treasury rate will be determined on each reset dividend determination date.



With respect to any dividend period, any dividends on the Series W Preferred Stock will be calculated on the basis of a 360-day year of twelve 30-day months, and “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Series W Preferred Stock to, but excluding, the first dividend payment date. In the event that any dividend payment date is not a business day, then payment of any dividend payable on such date will be made on the next succeeding business day and without any additional dividend accrual or other payment in respect of any such postponement.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series W Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series W Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series W Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series W Preferred Stock or any other series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.




(c) Priority of Dividends. So long as any share of Series W Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series W Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or series of Junior Stock for any other class or series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series W Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series W Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series W Preferred Stock in the payment of dividends, all dividends declared upon shares of Series W Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series W Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time



to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.
Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series W Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series W Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series W Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole at any time or in part, from time to time, the shares of Series W Preferred Stock at the time outstanding, on any dividend payment date beginning on or after the First Reset Date, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.




(b) Notice of Redemption. Notice of every redemption of shares of Series W Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series W Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series W Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series W Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series W Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series W Preferred Stock at the time outstanding, the shares of Series W Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series W Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series W Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the



redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series W Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series W Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of



the voting power of the Series W Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series W Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors. The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders. If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company. The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series W Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series W Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series W Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series W Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Company other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series W Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors



or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series W Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series W Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series W Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series W Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series W Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series W Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series W Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series W Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series W Preferred Stock prior to such merger or consolidation), and (ii) such Series W Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series W Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series W Preferred Stock or authorized preferred stock or any securities



convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series W Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series W Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series W Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series W Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series W Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series W Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.




Shares of Series W Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series W Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the agreements between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series W Preferred Stock Certificates. Series W Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series W Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series W Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series W Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series W Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series W Preferred Stock Certificate, such Series W Preferred Stock Certificate shall be valid nevertheless. A Series W Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series W Preferred Stock Certificate. Each Series W Preferred Stock Certificate shall be dated the date of its countersignature.





Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series W Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series W Preferred Stock, in a name other than that in which the shares of Series W Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series W Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.






Section 17. Other Rights Disclaimed.
The shares of Series W Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.

IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Treasurer this 9th day of December, 2020.

CITIGROUP INC.



By: /s/ Michael Verdeschi________________ Name: Michael Verdeschi Title: Treasurer







Exhibit A

FORM OF 4.000% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK, SERIES W

Certificate Number_______ Number of Shares of Series W Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

4.000% Fixed Rate Reset Noncumulative Preferred Stock, Series W
(par value $1.00 per share) (liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 4.000% Fixed Rate Reset Noncumulative Preferred Stock, Series W, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series W Preferred Stock”). The shares of Series W Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series W Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated December 9, 2020 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series W Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series W Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________ Name: Title:

By: _______________________________________ Name: Title:

REGISTRAR’S COUNTERSIGNATURE



These are shares of Series W Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________ Name: Title:

REVERSE OF CERTIFICATE
Dividends on each share of Series W Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
The shares of Series W Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series W Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series W Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)






CERTIFICATE OF DESIGNATIONS

OF

3.875% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK SERIES X

OF

CITIGROUP INC.

______________________________
pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:



1. The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

2. The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

3. Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on February 10, 2021, adopted resolutions (i) authorizing the issuance and sale of up to 92,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 3.875% Fixed Rate Reset Noncumulative Preferred Stock, Series X (the “Series X Preferred Stock”), establishing the number of shares to be included in this Series X Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series X Preferred Stock and the qualifications, limitations or restrictions thereof as follows:

Section 1. Designation.

The designation of the series of preferred stock shall be “3.875% Fixed Rate Reset Noncumulative Preferred Stock, Series X”. Each share of Series X Preferred Stock shall be identical in all respects to every other share of Series X Preferred Stock.





Section 2. Number of Shares.

The number of authorized shares of Series X Preferred Stock shall be 92,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series X Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series X Preferred Stock.


Section 3. Definitions. As used herein with respect to Series X Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
business day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.

Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent
for the Series X Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
First Reset Date” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series X Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series X Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or series of stock of the
Company now existing or hereafter authorized over which Series X Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.



NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series X Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series X Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series X Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series X Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series X Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series X Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
reset date” means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.

reset dividend determination date” means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.

reset period” means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.

Series X Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series X Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series X Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.



Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series X Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

a.Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series X Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 18th of each February, May, August and November (each, a “dividend payment date”), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, February 18, 2026 (the “First Reset Date”), at an annual rate of 3.875% on the liquidation preference of $25,000 per share, beginning on May 18, 2021, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the five-year treasury rate as of the most recent reset dividend determination date (as described below) plus 3.417% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on May 18, 2026.

The record date for payment of dividends on the Series X Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.

For any reset period beginning on or after the First Reset Date, the five-year treasury rate will be:

• The average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five business days appearing under the caption “Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board as of 5:00 p.m. (Eastern Time) as of any date of determination, as determined by the Calculation Agent in its sole discretion.

• If no calculation is provided as described above, then the Company (or such affiliate) will use a substitute or successor rate that it has determined, in its sole discretion after consulting any source it deems to be reasonable, is (i) the industry-accepted substitute or successor for the five-year treasury rate or (ii) if there is no such industry-accepted substitute or successor for the five-year treasury rate, a substitute or successor rate that is most comparable to the five-year treasury rate. Upon selection of a substitute or
successor rate, the Company (or such affiliate) may determine, in its sole discretion after consulting any source it deems to be reasonable, the day count convention, the business day convention, the definition of business day, the reset dividend determination date and any other relevant methodology or definition for calculating such substitute or successor rate, including



any adjustment factor it determines is needed to make such substitute or successor rate comparable to the five-year treasury rate, in a manner that is consistent with any industry-accepted practices for such substitute or successor rate.

The five-year treasury rate will be determined on each reset dividend determination date.



With respect to any dividend period, any dividends on the Series X Preferred Stock will be calculated on the basis of a 360-day year of twelve 30-day months, and “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Series X Preferred Stock to, but excluding, the first dividend payment date. In the event that any dividend payment date is not a business day, then payment of any dividend payable on such date will be made on the next succeeding business day and without any additional dividend accrual or other payment in respect of any such postponement.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series X Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series X Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series X Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series X Preferred Stock or any other series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series X Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series X Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company



will not, and will cause its subsidiaries not to, during the next succeeding dividend period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or series of Junior Stock for any other class or series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series X Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series X Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series X Preferred Stock in the payment of dividends, all dividends declared upon shares of Series X Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series X Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.




Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series X Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series X Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series X Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole at any time or in part, from time to time, the shares of Series X Preferred Stock at the time outstanding, on any dividend payment date beginning on or after the First Reset Date, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series X Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company.



Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series X Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series X Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series X Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series X Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series X Preferred Stock at the time outstanding, the shares of Series X Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series X Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series X Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only



the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series X Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series X Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series X Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is



received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series X Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors. The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders. If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company. The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series X Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series X Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series X Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series X Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Company other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series X Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the



capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series X Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series X Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series X Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series X Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series X Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series X Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series X Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series X Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series X Preferred Stock prior to such merger or consolidation), and (ii) such Series X Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series X Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series X Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series X Preferred Stock with respect to the payment of



dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series X Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series X Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series X Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series X Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series X Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series X Preferred Stock are not subject to the operation of a sinking fund.





Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series X Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the agreements between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series X Preferred Stock Certificates. Series X Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series X Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series X Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series X Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series X Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series X Preferred Stock Certificate, such Series X Preferred Stock Certificate shall be valid nevertheless. A Series X Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series X Preferred Stock Certificate. Each Series X Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series X Preferred Stock. The Company shall not, however, be required to pay any such tax that



may be payable in respect of any transfer involved in the issuance or delivery of shares of Series X Preferred Stock, in a name other than that in which the shares of Series X Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series X Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.
The shares of Series X Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.

IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Treasurer this 17th day of February, 2021.

CITIGROUP INC.



By: _/s/ Michael Verdeschi_______________________
Name: Michael Verdeschi
Title: Treasurer






Exhibit A

FORM OF 3.875% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK, SERIES X

Certificate Number_______ Number of Shares of Series X Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

3.875% Fixed Rate Reset Noncumulative Preferred Stock, Series X
(par value $1.00 per share) (liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 3.875% Fixed Rate Reset Noncumulative Preferred Stock, Series X, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series X Preferred Stock”). The shares of Series X Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series X Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated February 17, 2021 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series X Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series X Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________ Name: Title:

By: _______________________________________ Name: Title:




REGISTRAR’S COUNTERSIGNATURE
These are shares of Series X Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________ Name: Title:





REVERSE OF CERTIFICATE
Dividends on each share of Series X Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
The shares of Series X Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series X Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series X Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)







CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 41,400 shares of 6.300% Non-Cumulative Preferred Stock, Series S (the "Preferred Stock, Series S"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series S.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series S are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 18th day of February, 2021.


CITIGROUP INC.


By: /s/ Elissa Steinberg______________
Elissa Steinberg
Assistant Treasurer









CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 50,000 shares of 5.950% Non-Cumulative Preferred Stock, Series Q (the "Preferred Stock, Series Q"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series Q.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series Q are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 19th day of May, 2021.


CITIGROUP INC.

By: _ /s/ Elissa Steinberg______
Elissa Steinberg
Assistant Treasurer





CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 60,000 shares of 6.125% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series R (the "Preferred Stock, Series R"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series R.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series R are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 19th day of May, 2021.


CITIGROUP INC.


    By: _ /s/ Elissa Steinberg______
Elissa Steinberg
Assistant Treasurer









CERTIFICATE OF DESIGNATIONS

OF

4.150% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK SERIES Y

OF

CITIGROUP INC.
______________________________
pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:



1. The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

2. The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

3. Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on October 20, 2021, adopted resolutions (i) authorizing the issuance and sale of up to 40,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y (the “Series Y Preferred Stock”), establishing the number of shares to be included in this Series Y Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series Y Preferred Stock and the qualifications, limitations or restrictions thereof as follows:

Section 1. Designation.




The designation of the series of preferred stock shall be “4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y”. Each share of Series Y Preferred Stock shall be identical in all respects to every other share of Series Y Preferred Stock.






Section 2. Number of Shares.

The number of authorized shares of Series Y Preferred Stock shall be 40,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series Y Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series Y Preferred Stock.


Section 3. Definitions. As used herein with respect to Series Y Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
business day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.

Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent
for the Series Y Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
First Reset Date” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series Y Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series Y Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or series of stock of the
Company now existing or hereafter authorized over which Series Y Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting



Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series Y Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series Y Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series Y Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series Y Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series Y Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series Y Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
reset date” means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.

reset dividend determination date” means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.

reset period” means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.

Series Y Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series Y Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series Y Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series Y Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).





Section 4. Dividends.

a.Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series Y Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 15th of each February, May, August and November (each, a “dividend payment date”), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, November 15, 2026 (the “First Reset Date”), at an annual rate of 4.150% on the liquidation preference of $25,000 per share, beginning on February 15, 2022, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the five-year treasury rate as of the most recent reset dividend determination date (as described below) plus 3.000% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on February 15, 2027.

The record date for payment of dividends on the Series Y Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.

For any reset period beginning on or after the First Reset Date, the five-year treasury rate will be:

• The average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five business days appearing under the caption “Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board as of 5:00 p.m. (Eastern Time) as of any date of determination, as determined by the Calculation Agent in its sole discretion.

• If no calculation is provided as described above, then the Company (or such affiliate) will use a substitute or successor rate that it has determined, in its sole discretion after consulting any source it deems to be reasonable, is (i) the industry-accepted substitute or successor for the five-year treasury rate or (ii) if there is no such industry-accepted substitute or successor for the five-year treasury rate, a substitute or successor rate that is most comparable to the five-year treasury rate. Upon selection of a substitute or
successor rate, the Company (or such affiliate) may determine, in its sole discretion after consulting any source it deems to be reasonable, the day count convention, the business day convention, the definition of business day, the reset dividend determination date and any other relevant methodology or definition for calculating such substitute or successor rate, including any adjustment factor it determines is needed to make such substitute or successor rate comparable to the five-year treasury rate, in a manner that is consistent with any industry-accepted practices for such substitute or successor rate.

The five-year treasury rate will be determined on each reset dividend determination date.






With respect to any dividend period, any dividends on the Series Y Preferred Stock will be calculated on the basis of a 360-day year of twelve 30-day months, and “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Series Y Preferred Stock to, but excluding, the first dividend payment date. In the event that any dividend payment date is not a business day, then payment of any dividend payable on such date will be made on the next succeeding business day and without any additional dividend accrual or other payment in respect of any such postponement.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series Y Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series Y Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series Y Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series Y Preferred Stock or any other series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series Y Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series Y Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;




(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or series of Junior Stock for any other class or series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series Y Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series Y Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series Y Preferred Stock in the payment of dividends, all dividends declared upon shares of Series Y Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series Y Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.
Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series Y Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series Y Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but



not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series Y Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole at any time or in part, from time to time, the shares of Series Y Preferred Stock at the time outstanding, on any dividend payment date beginning on or after the First Reset Date, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series Y Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series Y Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series Y Preferred Stock. Each notice shall state:

(i) the redemption date;




(ii) the total number of shares of Series Y Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series Y Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series Y Preferred Stock at the time outstanding, the shares of Series Y Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series Y Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series Y Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.





Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series Y Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series Y Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series Y Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series Y Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors. The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders. If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company. The Preferred Stock Directors



elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series Y Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series Y Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series Y Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series Y Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Company other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series Y Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series Y Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series Y Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:




(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series Y Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series Y Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series Y Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series Y Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series Y Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series Y Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series Y Preferred Stock prior to such merger or consolidation), and (ii) such Series Y Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series Y Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series Y Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series Y Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series Y Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series Y Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote



or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series Y Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series Y Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series Y Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series Y Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series Y Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the agreements between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.





Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series Y Preferred Stock Certificates. Series Y Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series Y Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series Y Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series Y Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series Y Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series Y Preferred Stock Certificate, such Series Y Preferred Stock Certificate shall be valid nevertheless. A Series Y Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series Y Preferred Stock Certificate. Each Series Y Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series Y Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series Y Preferred Stock, in a name other than that in which the shares of Series Y Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series Y Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.




Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.
The shares of Series Y Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.

IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Treasurer this 26th day of October, 2021.

CITIGROUP INC.



By: __/s/ Michael Verdeschi_______________________
Name: Michael Verdeschi
Title: Treasurer







Exhibit A

FORM OF 4.150% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK, SERIES Y

Certificate Number_______ Number of Shares of Series Y Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y
(par value $1.00 per share) (liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series Y Preferred Stock”). The shares of Series Y Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series Y Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated October 26, 2021 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series Y Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series Y Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________ Name: Title:

By: _______________________________________ Name: Title:

REGISTRAR’S COUNTERSIGNATURE
These are shares of Series Y Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________ Name: Title:





REVERSE OF CERTIFICATE
Dividends on each share of Series Y Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
The shares of Series Y Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series Y Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series Y Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)







CERTIFICATE OF DESIGNATIONS

OF

7.375% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK SERIES Z

OF

CITIGROUP INC.

______________________________
pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:



1. The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

2. The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

3. Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on February 28, 2023, adopted resolutions (i) authorizing the issuance and sale of up to 50,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 7.375% Fixed Rate Reset Noncumulative Preferred Stock, Series Z (the “Series Z Preferred Stock”), establishing the number of shares to be included in this Series Z Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series Z Preferred Stock and the qualifications, limitations or restrictions thereof as follows:

Section 1. Designation.

The designation of the series of preferred stock shall be “7.375% Fixed Rate Reset Noncumulative Preferred Stock, Series Z”. Each share of Series Z Preferred Stock shall be identical in all respects to every other share of Series Z Preferred Stock.


Section 2. Number of Shares.




The number of authorized shares of Series Z Preferred Stock shall be 50,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series Z Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series Z Preferred Stock.


Section 3. Definitions. As used herein with respect to Series Z Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
business day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.

Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent
for the Series Z Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
First Reset Date” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series Z Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series Z Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or series of stock of the
Company now existing or hereafter authorized over which Series Z Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting



Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series Z Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series Z Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series Z Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series Z Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series Z Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series Z Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
reset date” means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.

reset dividend determination date” means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.

reset period” means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.

Series Z Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series Z Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series Z Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series Z Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).





Section 4. Dividends.

a.Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series Z Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 15th of each February, May, August and November (each, a “dividend payment date”), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, May 15, 2028 (the “First Reset Date”), at an annual rate of 7.375% on the liquidation preference of $25,000 per share, beginning on August 15, 2023, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the five-year treasury rate as of the most recent reset dividend determination date (as described below) plus 3.209% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on August 15, 2028.

The record date for payment of dividends on the Series Z Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.

For any reset period beginning on or after the First Reset Date, the five-year treasury rate will be:

• The average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five business days appearing under the caption “Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board as of 5:00 p.m. (Eastern Time) as of any date of determination, as determined by the Calculation Agent in its sole discretion.

• If no calculation is provided as described above, then the Company (or such affiliate) will use a substitute or successor rate that it has determined, in its sole discretion after consulting any source it deems to be reasonable, is (i) the industry-accepted substitute or successor for the five-year treasury rate or (ii) if there is no such industry-accepted substitute or successor for the five-year treasury rate, a substitute or successor rate that is most comparable to the five-year treasury rate. Upon selection of a substitute or
successor rate, the Company (or such affiliate) may determine, in its sole discretion after consulting any source it deems to be reasonable, the day count convention, the business day convention, the definition of business day, the reset dividend determination date and any other relevant methodology or definition for calculating such substitute or successor rate, including any adjustment factor it determines is needed to make such substitute or successor rate comparable to the five-year treasury rate, in a manner that is consistent with any industry-accepted practices for such substitute or successor rate.

The five-year treasury rate will be determined on each reset dividend determination date.




With respect to any dividend period, any dividends on the Series Z Preferred Stock will be calculated on the basis of a 360-day year of twelve 30-day months, and “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Series Z Preferred Stock to, but excluding, the first dividend payment date. In the event that any dividend payment date is not a business day, then payment of any dividend payable on such date will be made on the next succeeding business day and without any additional dividend accrual or other payment in respect of any such postponement.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series Z Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series Z Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series Z Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series Z Preferred Stock or any other series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series Z Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series Z Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;




(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or series of Junior Stock for any other class or series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series Z Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series Z Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series Z Preferred Stock in the payment of dividends, all dividends declared upon shares of Series Z Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series Z Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.

Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series Z Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series Z Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but



not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series Z Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole at any time or in part, from time to time, the shares of Series Z Preferred Stock at the time outstanding, on any dividend payment date beginning on or after the First Reset Date, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series Z Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series Z Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series Z Preferred Stock. Each notice shall state:

(i) the redemption date;




(ii) the total number of shares of Series Z Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series Z Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series Z Preferred Stock at the time outstanding, the shares of Series Z Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series Z Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series Z Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.





Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series Z Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series Z Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series Z Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series Z Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors. The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders. If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company. The Preferred Stock Directors



elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series Z Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series Z Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series Z Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series Z Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Company other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series Z Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).
(c) Senior Issuances; Adverse Changes. So long as any shares of Series Z Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series Z Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:




(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series Z Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series Z Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series Z Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series Z Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series Z Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series Z Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series Z Preferred Stock prior to such merger or consolidation), and (ii) such Series Z Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series Z Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series Z Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series Z Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series Z Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series Z Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).
(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote



or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series Z Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series Z Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series Z Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series Z Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series Z Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the agreements between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.





Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series Z Preferred Stock Certificates. Series Z Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series Z Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series Z Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series Z Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series Z Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series Z Preferred Stock Certificate, such Series Z Preferred Stock Certificate shall be valid nevertheless. A Series Z Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series Z Preferred Stock Certificate. Each Series Z Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series Z Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series Z Preferred Stock, in a name other than that in which the shares of Series Z Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series Z Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.




Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.
The shares of Series Z Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.


IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Treasurer this 6th day of March, 2023.

CITIGROUP INC.



By: _/s/ Michael Verdeschi_______________
Name: Michael Verdeschi
Title: Treasurer







Exhibit A

FORM OF 7.375% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK, SERIES Z

Certificate Number_______ Number of Shares of Series Z Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

7.375% Fixed Rate Reset Noncumulative Preferred Stock, Series Z
(par value $1.00 per share) (liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 7.375% Fixed Rate Reset Noncumulative Preferred Stock, Series Z, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series Z Preferred Stock”). The shares of Series Z Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series Z Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated March 6, 2023 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series Z Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series Z Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________ Name: Title:

By: _______________________________________ Name: Title:

REGISTRAR’S COUNTERSIGNATURE



These are shares of Series Z Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________ Name: Title:





REVERSE OF CERTIFICATE
Dividends on each share of Series Z Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
The shares of Series Z Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series Z Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series Z Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)









CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 30,000 shares of 5.90% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series B (the "Preferred Stock, Series B"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series B.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series B are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 5th day of September, 2023.


CITIGROUP INC.

By:/s/ Elissa Steinberg_____________
Elissa Steinberg
Assistant Treasurer




CERTIFICATE OF DESIGNATIONS

OF

7.625% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK SERIES AA

OF

CITIGROUP INC.

______________________________
pursuant to Section 151 of the
General Corporation Law of the State of Delaware
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Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:



1. The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

2. The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

3. Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on September 14, 2023, adopted resolutions (i) authorizing the issuance and sale of up to 60,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 7.625% Fixed Rate Reset Noncumulative Preferred Stock, Series AA (the “Series AA Preferred Stock”), establishing the number of shares to be included in this Series AA Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series AA Preferred Stock and the qualifications, limitations or restrictions thereof as follows:

Section 1. Designation.

The designation of the series of preferred stock shall be “7.625% Fixed Rate Reset Noncumulative Preferred Stock, Series AA”. Each share of Series AA Preferred Stock shall be identical in all respects to every other share of Series AA Preferred Stock.





Section 2. Number of Shares.

The number of authorized shares of Series AA Preferred Stock shall be 60,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series AA Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series AA Preferred Stock.


Section 3. Definitions. As used herein with respect to Series AA Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
business day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.

Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent
for the Series AA Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
First Reset Date” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series AA Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series AA Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or series of stock of the
Company now existing or hereafter authorized over which Series AA Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.



Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series AA Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series AA Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series AA Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series AA Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series AA Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series AA Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
reset date” means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.

reset dividend determination date” means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.

reset period” means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.

Series AA Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series AA Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series AA Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series AA Preferred Stock, and its successors and assigns.



Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

a.Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series AA Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 15th of each February, May, August and November (each, a “dividend payment date”), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, November 15, 2028 (the “First Reset Date”), at an annual rate of 7.625% on the liquidation preference of $25,000 per share, beginning on February 15, 2024, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the five-year treasury rate as of the most recent reset dividend determination date (as described below) plus 3.211% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on February 15, 2029.

The record date for payment of dividends on the Series AA Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.

For any reset period beginning on or after the First Reset Date, the five-year treasury rate will be:

• The average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five business days appearing under the caption “Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board as of 5:00 p.m. (Eastern Time) as of any date of determination, as determined by the Calculation Agent in its sole discretion.

• If no calculation is provided as described above, then the Company (or such affiliate) will use a substitute or successor rate that it has determined, in its sole discretion after consulting any source it deems to be reasonable, is (i) the industry-accepted substitute or successor for the five-year treasury rate or (ii) if there is no such industry-accepted substitute or successor for the five-year treasury rate, a substitute or successor rate that is most comparable to the five-year treasury rate. Upon selection of a substitute or successor rate, the Company (or such affiliate) may determine, in its sole discretion after consulting any source it deems to be reasonable, the day count convention, the business day convention, the definition of business day, the reset dividend determination date and any other relevant methodology or definition for calculating such substitute or successor rate, including any adjustment factor it determines is needed to make such substitute or successor rate comparable to the five-year treasury rate, in a manner that is consistent with any industry-accepted practices for such substitute or successor rate.

The five-year treasury rate will be determined on each reset dividend determination date.






With respect to any dividend period, any dividends on the Series AA Preferred Stock will be calculated on the basis of a 360-day year of twelve 30-day months, and “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Series AA Preferred Stock to, but excluding, the first dividend payment date. In the event that any dividend payment date is not a business day, then payment of any dividend payable on such date will be made on the next succeeding business day and without any additional dividend accrual or other payment in respect of any such postponement.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series AA Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series AA Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series AA Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series AA Preferred Stock or any other series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series AA Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series AA Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:



(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or series of Junior Stock for any other class or series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series AA Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series AA Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series AA Preferred Stock in the payment of dividends, all dividends declared upon shares of Series AA Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series AA Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.

Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series AA Preferred Stock upon liquidation and the rights of



the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series AA Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series AA Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole at any time or in part, from time to time, the shares of Series AA Preferred Stock at the time outstanding, on any dividend payment date beginning on or after the First Reset Date, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series AA Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series AA Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series AA Preferred Stock. Each notice shall state:




(i) the redemption date;

(ii) the total number of shares of Series AA Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series AA Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series AA Preferred Stock at the time outstanding, the shares of Series AA Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series AA Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series AA Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount



deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series AA Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series AA Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series AA Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series AA Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors. The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders. If the secretary of the Company does not call a special



meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company. The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series AA Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series AA Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series AA Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series AA Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Company other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series AA Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).

(c) Senior Issuances; Adverse Changes. So long as any shares of Series AA Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series AA Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of



stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series AA Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series AA Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series AA Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series AA Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series AA Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series AA Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series AA Preferred Stock prior to such merger or consolidation), and (ii) such Series AA Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series AA Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series AA Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series AA Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series AA Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series AA



Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).

(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series AA Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series AA Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series AA Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series AA Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series AA Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the agreements between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such



removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series AA Preferred Stock Certificates. Series AA Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series AA Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series AA Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series AA Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series AA Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series AA Preferred Stock Certificate, such Series AA Preferred Stock Certificate shall be valid nevertheless. A Series AA Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series AA Preferred Stock Certificate. Each Series AA Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series AA Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series AA Preferred Stock, in a name other than that in which the shares of Series AA Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.




(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series AA Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.
The shares of Series AA Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.

IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Treasurer this 20th day of September, 2023.

CITIGROUP INC.



By: __/s/ Michael Verdeschi__________________
Name: Michael Verdeschi
Title: Treasurer







Exhibit A

FORM OF 7.625% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK, SERIES AA

Certificate Number_______ Number of Shares of Series AA Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

7.625% Fixed Rate Reset Noncumulative Preferred Stock, Series AA
(par value $1.00 per share) (liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 7.625% Fixed Rate Reset Noncumulative Preferred Stock, Series AA, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series AA Preferred Stock”). The shares of Series AA Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series AA Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated September 20, 2023 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series AA Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series AA Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________ Name: Title:

By: _______________________________________ Name: Title:





REGISTRAR’S COUNTERSIGNATURE
These are shares of Series AA Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________ Name: Title:

REVERSE OF CERTIFICATE
Dividends on each share of Series AA Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
The shares of Series AA Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series AA Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series AA Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)







CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 60,000 shares of 5.950% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series A (the "Preferred Stock, Series A"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series A.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series A are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 6th day of November, 2023.


CITIGROUP INC.


By: _/s/ Elissa Steinberg_____________
Elissa Steinberg
Assistant Treasurer











CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 59,800 shares of 6.875% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series K (the "Preferred Stock, Series K"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series K.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series K are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 22nd day of January, 2024.


CITIGROUP INC.


By: /s/ Elissa Steinberg_____________
Elissa Steinberg
Assistant Treasurer

















CERTIFICATE OF DESIGNATIONS

OF

7.200% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK SERIES BB

OF

CITIGROUP INC.

______________________________
pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:



1. The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

2. The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

3. Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on February 28, 2024, adopted resolutions (i) authorizing the issuance and sale of up to 22,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 7.200% Fixed Rate Reset Noncumulative Preferred Stock, Series BB (the “Series BB Preferred Stock”), establishing the number of shares to be included in this Series BB Preferred Stock and fixing the designation, powers, preferences and rights of the



shares of this Series BB Preferred Stock and the qualifications, limitations or restrictions thereof as follows:

Section 1. Designation.

The designation of the series of preferred stock shall be “7.200% Fixed Rate Reset Noncumulative Preferred Stock, Series BB”. Each share of Series BB Preferred Stock shall be identical in all respects to every other share of Series BB Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series BB Preferred Stock shall be 22,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series BB Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series BB Preferred Stock.


Section 3. Definitions. As used herein with respect to Series BB Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
business day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.

Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent
for the Series BB Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
First Reset Date” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series BB Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series BB Preferred Stock for the purpose of making payment and for all other purposes.




Junior Stock” means the Common Stock and any other class or series of stock of the
Company now existing or hereafter authorized over which Series BB Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series BB Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series BB Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series BB Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series BB Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series BB Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series BB Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
reset date” means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.

reset dividend determination date” means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.

reset period” means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.




Series BB Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series BB Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series BB Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series BB Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

a.Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series BB Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 15th of each February, May, August and November (each, a “dividend payment date”), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, May 15, 2029 (the “First Reset Date”), at an annual rate of 7.200% on the liquidation preference of $25,000 per share, beginning on August 15, 2024, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the five-year treasury rate as of the most recent reset dividend determination date (as described below) plus 2.905% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on August 15, 2029.

The record date for payment of dividends on the Series BB Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.

For any reset period beginning on or after the First Reset Date, the five-year treasury rate will be:

• The average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five business days appearing under the caption “Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board as of 5:00 p.m. (Eastern Time) as of any date of determination, as determined by the Calculation Agent in its sole discretion.

• If no calculation is provided as described above, then the Company (or such affiliate) will use a substitute or successor rate that it has determined, in its sole discretion after consulting any source it deems to be reasonable, is (i) the industry-accepted substitute or successor for the five-year treasury rate or (ii) if there is no such industry-accepted substitute or successor for the five-year treasury rate, a substitute or successor rate that is most comparable to the five-year treasury rate. Upon selection of a substitute or successor rate, the Company (or such affiliate)



may determine, in its sole discretion after consulting any source it deems to be reasonable, the day count convention, the business day convention, the definition of business day, the reset dividend determination date and any other relevant methodology or definition for calculating such substitute or successor rate, including any adjustment factor it determines is needed to make such substitute or successor rate comparable to the five-year treasury rate, in a manner that is consistent with any industry-accepted practices for such substitute or successor rate.

The five-year treasury rate will be determined on each reset dividend determination date.


With respect to any dividend period, any dividends on the Series BB Preferred Stock will be calculated on the basis of a 360-day year of twelve 30-day months, and “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Series BB Preferred Stock to, but excluding, the first dividend payment date. In the event that any dividend payment date is not a business day, then payment of any dividend payable on such date will be made on the next succeeding business day and without any additional dividend accrual or other payment in respect of any such postponement.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series BB Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series BB Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series BB Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series BB Preferred Stock or any other series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series BB Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series BB Preferred Stock have been declared and paid or declared and a sum sufficient for the



payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or series of Junior Stock for any other class or series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series BB Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series BB Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series BB Preferred Stock in the payment of dividends, all dividends declared upon shares of Series BB Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series BB Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.

Section 5. Liquidation Rights.




(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series BB Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series BB Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.

(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series BB Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole at any time or in part, from time to time, the shares of Series BB Preferred Stock at the time outstanding, on any dividend payment date beginning on or after the First Reset Date, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series BB Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed



to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series BB Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series BB Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series BB Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series BB Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series BB Preferred Stock at the time outstanding, the shares of Series BB Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series BB Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series BB Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The



Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series BB Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series BB Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series BB Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series BB Preferred



Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors. The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders. If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company. The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series BB Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series BB Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series BB Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series BB Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Company other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series BB Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).



(c) Senior Issuances; Adverse Changes. So long as any shares of Series BB Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series BB Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series BB Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series BB Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series BB Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series BB Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series BB Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series BB Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series BB Preferred Stock prior to such merger or consolidation), and (ii) such Series BB Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series BB Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series BB Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series BB Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series BB Preferred



Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series BB Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).

(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series BB Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series BB Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series BB Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series BB Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.




The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series BB Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the agreements between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series BB Preferred Stock Certificates. Series BB Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series BB Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series BB Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series BB Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series BB Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series BB Preferred Stock Certificate, such Series BB Preferred Stock Certificate shall be valid nevertheless. A Series BB Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series BB Preferred Stock Certificate. Each Series BB Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series BB Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series BB Preferred Stock, in a name other than that in which the shares of Series BB Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the



registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series BB Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.
The shares of Series BB Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.





IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Assistant Treasurer this 5th day of March, 2024.

CITIGROUP INC.



By: /s/ Elissa Steinberg___________________
Name: Elissa Steinberg
Title: Assistant Treasurer







Exhibit A

FORM OF 7.200% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK, SERIES BB

Certificate Number_______ Number of Shares of Series BB Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

7.200% Fixed Rate Reset Noncumulative Preferred Stock, Series BB
(par value $1.00 per share) (liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 7.200% Fixed Rate Reset Noncumulative Preferred Stock, Series BB, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series BB Preferred Stock”). The shares of Series BB Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series BB Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated March 5, 2024 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series BB Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series BB Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________ Name: Title:

By: _______________________________________ Name: Title:

REGISTRAR’S COUNTERSIGNATURE



These are shares of Series BB Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar

By: _______________________________________ Name: Title:





REVERSE OF CERTIFICATE
Dividends on each share of Series BB Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
The shares of Series BB Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.

ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series BB Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series BB Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.

Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________

(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)









CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 38,000 shares of 7.125% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series J (the "Preferred Stock, Series J"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series J.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series J are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 2nd day of April, 2024.


CITIGROUP INC.


By: /s/ Elissa Steinberg_____________
Elissa Steinberg
Assistant Treasurer












CERTIFICATE OF DESIGNATIONS

OF

7.125% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK SERIES CC

OF

CITIGROUP INC.

______________________________
pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:



1. The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

2. The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

3. Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on May 21, 2024, adopted resolutions (i) authorizing the issuance and sale of up to 70,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 7.125% Fixed Rate Reset Noncumulative Preferred Stock, Series CC (the “Series CC Preferred Stock”), establishing the number of shares to be included in this Series CC Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series CC Preferred Stock and the qualifications, limitations or restrictions thereof as follows:





Section 1. Designation.

The designation of the series of preferred stock shall be “7.125% Fixed Rate Reset Noncumulative Preferred Stock, Series CC”. Each share of Series CC Preferred Stock shall be identical in all respects to every other share of Series CC Preferred Stock.


Section 2. Number of Shares.

The number of authorized shares of Series CC Preferred Stock shall be 70,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series CC Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series CC Preferred Stock.


Section 3. Definitions. As used herein with respect to Series CC Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
business day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.

Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent
for the Series CC Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
First Reset Date” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series CC Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series CC Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or series of stock of the
Company now existing or hereafter authorized over which Series CC Preferred Stock has



preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.
Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series CC Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series CC Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series CC Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series CC Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series CC Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series CC Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
reset date” means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.

reset dividend determination date” means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.

reset period” means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.

Series CC Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series CC Preferred Stock” shall have the meaning set forth in Section 1 hereof.



Series CC Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series CC Preferred Stock, and its successors and assigns.
Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

a.Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series CC Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 15th of each February, May, August and November (each, a “dividend payment date”), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, August 15, 2029 (the “First Reset Date”), at an annual rate of 7.125% on the liquidation preference of $25,000 per share, beginning on November 15, 2024, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the five-year treasury rate as of the most recent reset dividend determination date (as described below) plus 2.693% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on November 15, 2029.

The record date for payment of dividends on the Series CC Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.

For any reset period beginning on or after the First Reset Date, the five-year treasury rate will be:

• The average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five business days appearing under the caption “Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board as of 5:00 p.m. (Eastern Time) as of any date of determination, as determined by the Calculation Agent in its sole discretion.

• If no calculation is provided as described above, then the Company (or such affiliate) will use a substitute or successor rate that it has determined, in its sole discretion after consulting any source it deems to be reasonable, is (i) the industry-accepted substitute or successor for the five-year treasury rate or (ii) if there is no such industry-accepted substitute or successor for the five-year treasury rate, a substitute or successor rate that is most comparable to the five-year treasury rate. Upon selection of a substitute or
successor rate, the Company (or such affiliate) may determine, in its sole discretion after consulting any source it deems to be reasonable, the day count convention, the business day convention, the definition of business day, the reset dividend determination date and any other



relevant methodology or definition for calculating such substitute or successor rate, including any adjustment factor it determines is needed to make such substitute or successor rate comparable to the five-year treasury rate, in a manner that is consistent with any industry-accepted practices for such substitute or successor rate.

The five-year treasury rate will be determined on each reset dividend determination date.


With respect to any dividend period, any dividends on the Series CC Preferred Stock will be calculated on the basis of a 360-day year of twelve 30-day months, and “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Series CC Preferred Stock to, but excluding, the first dividend payment date. In the event that any dividend payment date is not a business day, then payment of any dividend payable on such date will be made on the next succeeding business day and without any additional dividend accrual or other payment in respect of any such postponement.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series CC Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series CC Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series CC Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series CC Preferred Stock or any other series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series CC Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series CC Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period,



declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:
(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or series of Junior Stock for any other class or series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series CC Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series CC Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series CC Preferred Stock in the payment of dividends, all dividends declared upon shares of Series CC Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series CC Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.

Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available



therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series CC Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the amount of the liquidation preference of $25,000 per share (the “Series CC Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series CC Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole at any time or in part, from time to time, the shares of Series CC Preferred Stock at the time outstanding, on any dividend payment date beginning on or after the First Reset Date, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series CC Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series CC Preferred Stock designated for redemption shall not affect the validity of the



proceedings for the redemption of any other shares of Series CC Preferred Stock. Each notice shall state:

(i) the redemption date;

(ii) the total number of shares of Series CC Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series CC Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series CC Preferred Stock at the time outstanding, the shares of Series CC Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series CC Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series CC Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption



date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series CC Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series CC Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series CC Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series CC Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors. The Preferred Stock Directors shall each be entitled to one vote per director on any matter.




(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders. If the secretary of the Company does not call a special meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company. The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series CC Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series CC Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series CC Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series CC Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Company other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series CC Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).

(c) Senior Issuances; Adverse Changes. So long as any shares of Series CC Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the



vote or consent of the holders of at least two-thirds of the voting power of the Series CC Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series CC Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series CC Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series CC Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series CC Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series CC Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series CC Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series CC Preferred Stock prior to such merger or consolidation), and (ii) such Series CC Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series CC Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series CC Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series CC Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series CC Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series



of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series CC Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).

(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series CC Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series CC Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series CC Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series CC Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series CC Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the agreements between the Company and the Transfer Agent; provided,



however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series CC Preferred Stock Certificates. Series CC Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series CC Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series CC Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series CC Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series CC Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series CC Preferred Stock Certificate, such Series CC Preferred Stock Certificate shall be valid nevertheless. A Series CC Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series CC Preferred Stock Certificate. Each Series CC Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series CC Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series CC Preferred Stock, in a name other than that in which the shares of Series CC Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.




(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series CC Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.
The shares of Series CC Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.

IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Assistant Treasurer this 28th day of May, 2024.

CITIGROUP INC.



By: /s/ Elissa Steinberg_________________
Name: Elissa Steinberg
Title: Assistant Treasurer







Exhibit A

FORM OF 7.125% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK, SERIES CC

Certificate Number_______ Number of Shares of Series CC Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

7.125% Fixed Rate Reset Noncumulative Preferred Stock, Series CC
(par value $1.00 per share) (liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 7.125% Fixed Rate Reset Noncumulative Preferred Stock, Series CC, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series CC Preferred Stock”). The shares of Series CC Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series CC Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated May 28, 2024 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series CC Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series CC Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________ Name: Title:

By: _______________________________________ Name: Title:

REGISTRAR’S COUNTERSIGNATURE



These are shares of Series CC Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________ Name: Title:


REVERSE OF CERTIFICATE
Dividends on each share of Series CC Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
The shares of Series CC Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series CC Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series CC Preferred Stock evidenced hereby on the books of the Transfer Agent.
The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)








CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 50,000 shares of 5.350% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series D (the "Preferred Stock, Series D"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series D.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series D are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 25th day of June, 2024.


CITIGROUP INC.

By: /s/ Elissa Steinberg_____________
Elissa Steinberg
Assistant Treasurer





















CERTIFICATE OF DESIGNATIONS

OF

7.000% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK SERIES DD

OF

CITIGROUP INC.

______________________________
pursuant to Section 151 of the
General Corporation Law of the State of Delaware
______________________________

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that:



1. The Restated Certificate of Incorporation of the Company (as amended through the date hereof, the “Certificate of Incorporation”) fixes the total number of shares of all classes of capital stock that the Company shall have the authority to issue at six billion (6,000,000,000) shares of common stock, par value $0.01 per share, and thirty million (30,000,000) shares of preferred stock, par value $1.00 per share.

2. The Certificate of Incorporation expressly grants to the Board of Directors of the Company (the “Board of Directors”) authority to provide for the issuance of the shares of preferred stock in series, and to establish from time to time the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof.

3. Pursuant to the authority conferred upon a preferred stock committee (the “Preferred Stock Committee”) by the Board of Directors, the Preferred Stock Committee, by action duly taken on July 23, 2024, adopted resolutions (i) authorizing the issuance and sale of up to 60,000 shares of the Company’s preferred stock and (ii) approving this final form of Certificate of Designations of 7.000% Fixed Rate Reset Noncumulative Preferred Stock, Series DD (the “Series DD Preferred Stock”), establishing the number of shares to be included in this Series DD Preferred Stock and fixing the designation, powers, preferences and rights of the shares of this Series DD Preferred Stock and the qualifications, limitations or restrictions thereof as follows:

Section 1. Designation.

The designation of the series of preferred stock shall be “7.000% Fixed Rate Reset Noncumulative Preferred Stock, Series DD”. Each share of Series DD Preferred Stock shall be identical in all respects to every other share of Series DD Preferred Stock.




Section 2. Number of Shares.

The number of authorized shares of Series DD Preferred Stock shall be 60,000. That number from time to time may be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series DD Preferred Stock then outstanding) by further resolution duly adopted by the Board of Directors, the Preferred Stock Committee or any other duly authorized committee thereof and by the filing of a certificate pursuant to the provisions of the General Corporation Law of the State of Delaware stating that such increase or reduction, as the case may be, has been so authorized. The Company shall have the authority to issue fractional shares of Series DD Preferred Stock.


Section 3. Definitions. As used herein with respect to Series DD Preferred Stock:

Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Company as that term is defined in Section 3(q) of the Federal Deposit Insurance Act of 1950, as amended, or any successor provision.
Board of Directors” has the meaning set forth in the recitals above.
business day” means any weekday that is not a legal holiday in New York City and is not a day on which banking institutions in New York City are authorized or required by law or regulation to be closed.

Calculation Agent” means the Transfer Agent acting in its capacity as calculation agent
for the Series DD Preferred Stock, and its successors and assigns.
Common Stock” means the common stock of the Company, par value $0.01 per share, or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed.
Depositary” means DTC or its nominee or any successor depositary appointed by the Company.
dividend payment date” shall have the meaning set forth in Section 4(a) hereof.
dividend period” shall have the meaning set forth in Section 4(a) hereof.
Dividend Record Date” shall have the meaning set forth in Section 4(a) hereof.
DTC” means The Depository Trust Company.
First Reset Date” shall have the meaning set forth in Section 4(a) hereof.
Holder” means the Person in whose name the shares of the Series DD Preferred Stock are registered, which may be treated by the Company, Calculation Agent, Transfer Agent, Registrar and paying agent as the absolute owner of the shares of Series DD Preferred Stock for the purpose of making payment and for all other purposes.

Junior Stock” means the Common Stock and any other class or series of stock of the
Company now existing or hereafter authorized over which Series DD Preferred Stock has
preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

Nonpayment” shall have the meaning set forth in Section 7(b)(i) hereof.
NY Federal Reserve’s website” shall have the meaning set forth in Section 4(a) hereof.



Officer” means the Chief Executive Officer, the Chairman, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Deputy Treasurer, any Assistant Treasurer, any Vice President, the General Counsel and Corporate Secretary and any Assistant Secretary of the Company.
Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, or other entity.
Preferred Stock Director” shall have the meaning set forth in Section 7(b)(i) hereof.
Preferred Stock Director Termination Date” shall have the meaning set forth in Section 7(b)(iv) hereof.
Registrar” means the Transfer Agent acting in its capacity as registrar for the Series DD Preferred Stock, and its successors and assigns.
Regulatory Capital Event” means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series DD Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series DD Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series DD Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series DD Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series DD Preferred Stock is outstanding.
Relevant Governmental Body” shall have the meaning set forth in Section 4(a) hereof.
reset date” means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.

reset dividend determination date” means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.

reset period” means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.

Series DD Liquidation Preference” shall have the meaning set forth in Section 5(a) hereof.
Series DD Preferred Stock” shall have the meaning set forth in Section 1 hereof.
Series DD Preferred Stock Certificate” shall have the meaning set forth in Section 14(a) hereof.
Transfer Agent” means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series DD Preferred Stock, and its successors and assigns.



Trust” shall have the meaning set forth in Section 6(d).


Section 4. Dividends.

aRate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series DD Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 15th of each February, May, August and November (each, a “dividend payment date”), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, August 15, 2034 (the “First Reset Date”), at an annual rate of 7.000% on the liquidation preference of $25,000 per share, beginning on November 15, 2024, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the ten-year treasury rate as of the most recent reset dividend determination date (as described below) plus 2.757% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on November 15, 2034.

The record date for payment of dividends on the Series DD Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.

For any reset period beginning on or after the First Reset Date, the ten-year treasury rate will be:

• The average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for ten-year maturities, for the five business days appearing under the caption “Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board as of 5:00 p.m. (Eastern Time) as of any date of determination, as determined by the Calculation Agent in its sole discretion.

• If no calculation is provided as described above, then the Company (or such affiliate) will use a substitute or successor rate that it has determined, in its sole discretion after consulting any source it deems to be reasonable, is (i) the industry-accepted substitute or successor for the ten-year treasury rate or (ii) if there is no such industry-accepted substitute or successor for the ten-year treasury rate, a substitute or successor rate that is most comparable to the ten-year treasury rate. Upon selection of a substitute or
successor rate, the Company (or such affiliate) may determine, in its sole discretion after consulting any source it deems to be reasonable, the day count convention, the business day convention, the definition of business day, the reset dividend determination date and any other relevant methodology or definition for calculating such substitute or successor rate, including any adjustment factor it determines is needed to make such substitute or successor rate comparable to the ten-year treasury rate, in a manner that is consistent with any industry-accepted practices for such substitute or successor rate.




The ten-year treasury rate will be determined on each reset dividend determination date.



With respect to any dividend period, any dividends on the Series DD Preferred Stock will be calculated on the basis of a 360-day year of twelve 30-day months, and “dividend period” means the period from, and including, each dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial dividend period, which will be the period from, and including, the date of issuance of the Series DD Preferred Stock to, but excluding, the first dividend payment date. In the event that any dividend payment date is not a business day, then payment of any dividend payable on such date will be made on the next succeeding business day and without any additional dividend accrual or other payment in respect of any such postponement.

Any determination, decision or election that may be made by the Company (or one of its affiliates) pursuant to the provisions described above, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or such affiliate’s) sole discretion, and, notwithstanding anything to the contrary in this Certificate of Designations, shall become effective without consent from the holders of the Series DD Preferred Stock or any other party.

All percentages resulting from any calculation of the dividend rate will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. All currency amounts used in, or resulting from, the calculation on the Series DD Preferred Stock will be rounded to the nearest one-hundredth of a unit. For purposes of rounding, .005 of a unit shall be rounded upward.

(b) Noncumulative Dividends. If the Board of Directors or any duly authorized committee thereof does not declare a dividend on the Series DD Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not accrue, and the Company will have no obligation to pay, and Holders shall have no right to receive, a dividend for that dividend period on the related dividend payment date or at any future time, whether or not dividends on the Series DD Preferred Stock or any other series of preferred stock or common stock are declared for any subsequent period. References herein to the “accrual” of dividends refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared.

(c) Priority of Dividends. So long as any share of Series DD Preferred Stock remains outstanding, unless as to a dividend payment date full dividends on all outstanding shares of the Series DD Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside for the dividend period then ending, the Company will not, and will cause its subsidiaries not to, during the next succeeding dividend period, declare or pay any dividend on, make any distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any Junior Stock, or make any guarantee payment with respect thereto, other than:



(i) purchases, redemptions or other acquisitions of shares of Junior Stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants;

(ii) purchases of shares of Common Stock pursuant to a contractually binding requirement to buy stock existing prior to the commencement of the then-current dividend period, including under a contractually binding stock repurchase plan;

(iii) as a result of an exchange or conversion of any class or series of Junior Stock for any other class or series of Junior Stock;

(iv) the purchase of fractional interests in shares of Junior Stock pursuant to the conversion or exchange provisions of such Junior Stock or the security being converted or exchanged;

(v) the purchase of Junior Stock by an investment banking subsidiary of the Company in connection with the distribution thereof; or

(vi) the purchase of Junior Stock by any investment banking subsidiary of the Company in connection with market-making or other secondary market activities in the ordinary course of the business of such subsidiary.

The restrictions set forth in the preceding provisions of this Section 4(c) shall not apply to any Junior Stock dividends paid by the Company where the dividend is in the form of the same stock (or the right to buy the same stock) as that on which the dividend is being paid.
Except as provided below, for so long as any share of Series DD Preferred Stock remains outstanding, if dividends are not declared and paid in full upon the shares of Series DD Preferred Stock and any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series DD Preferred Stock in the payment of dividends, all dividends declared upon shares of Series DD Preferred Stock and such other stock will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the then-current dividend period per share of Series DD Preferred Stock and accrued dividends for the then-current dividend period per share of such other stock (including, in the case of any such other stock that bears cumulative dividends, all accrued and unpaid dividends) bear to each other.
Subject to the foregoing, and not otherwise, such dividends payable in cash, stock or otherwise, as may be determined by the Board of Directors or any duly authorized committee thereof, may be declared and paid on any other class or series of stock of the Company from time to time out of any funds legally available for such payment, and Holders will not be entitled to participate in those dividends.
Section 5. Liquidation Rights.

(a) Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, Holders shall be entitled, out of funds legally available therefor, before any distribution or payment may be made by the Company or set aside for the holders of any Junior Stock and subject to the rights of the holders of any class or series of stock ranking senior to or on parity with Series DD Preferred Stock upon liquidation and the rights of the Company’s depositors and other creditors, to receive in full a liquidating distribution in the



amount of the liquidation preference of $25,000 per share (the “Series DD Liquidation Preference”), plus any accrued dividends thereon from the last dividend payment date to, but excluding, the date of the liquidation, dissolution or winding up if and to the extent declared but not yet paid. Holders shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company other than what is expressly provided for in this Section 5.
(b) Partial Payment. If the assets of the Company are not sufficient to pay in full the aforesaid liquidation distributions to the Holders and any liquidation distributions owed to holders of any class or series of stock of the Company ranking equally with the Series DD Preferred Stock in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company, the amounts paid to the Holders and to the holders of all such equally ranking stock shall be pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

(c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company shall not be deemed a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, nor shall the merger, consolidation or any other business combination transaction of the Company into or with any other corporation or Person or the merger, consolidation or any other business combination transaction of any other corporation or Person into or with the Company be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company.


Section 6. Redemption.

(a) Optional Redemption. The Company, at the option of its Board of Directors or any duly authorized committee thereof, may redeem out of funds legally available therefor, (i) in whole at any time or in part, from time to time, the shares of Series DD Preferred Stock at the time outstanding, on any dividend payment date beginning on or after the First Reset Date, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event, in each case at a redemption price equal to $25,000 per share plus any declared and unpaid dividends, without accumulation of any undeclared dividends, to, but excluding, the redemption date, upon notice given as provided in Section 6(b) below.

(b) Notice of Redemption. Notice of every redemption of shares of Series DD Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the Holders of such shares to be redeemed at their respective last addresses appearing on the stock register of the Company. Such mailing shall be at least 5 days and not more than 30 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any Holder of shares of Series DD Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series DD Preferred Stock. Each notice shall state:

(i) the redemption date;




(ii) the total number of shares of Series DD Preferred Stock to be redeemed and, if fewer than all the shares of a Holder are to be redeemed, the number of such shares to be redeemed;

(iii) the redemption price;

(iv) the place or places where the certificates for such shares are to be surrendered for payment of the redemption price, if applicable; and

(v) that dividends on the shares to be redeemed will cease to accrue on the redemption date.

Notwithstanding the foregoing, if the certificates evidencing the shares of Series DD Preferred Stock are held of record by a depositary and any related depository shares are held of record by a Depositary or its nominee, the Company may give such notice in any manner permitted by the Depositary.

(c) Partial Redemption. In case of any redemption of only part of the shares of Series DD Preferred Stock at the time outstanding, the shares of Series DD Preferred Stock to be redeemed shall be selected (i) pro rata from the Holders in proportion to the number of shares of Series DD Preferred Stock held by such Holders, (ii) by lot or (iii) in such other manner as the Board of Directors or any duly authorized committee thereof may determine, in its sole discretion, to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors or any duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Series DD Preferred Stock shall be redeemed from time to time.

(d) Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other assets, for the pro rata benefit of the Holders of the shares called for redemption, so as to be and continue to be available therefor, or deposited by the Company with a bank or trust company selected by the Board of Directors or any duly authorized committee thereof (the “Trust”) in trust for the pro rata benefit of the Holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue on such redemption date, and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the Holders thereof to receive the amount payable on such redemption from the Trust at any time after the redemption date from the funds so deposited, without interest. The Company shall be entitled to receive, from time to time, from the Trust any interest accrued on such funds, and the Holders of any shares called for redemption shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released or repaid to the Company, and in the event of such repayment to the Company, the Holders of the shares so called for redemption shall be deemed to be unsecured creditors of the Company for an amount equivalent to the amount



deposited as stated above for the redemption of such shares and so repaid to the Company, but shall in no event be entitled to any interest.


Section 7. Voting Rights.

(a) General. The Holders shall not be entitled to vote on any matter except as set forth in Section 7(b) below or as required by the Delaware General Corporation Law.

(b) Special Voting Right.

(i) Voting Right. If and whenever dividends on the Series DD Preferred Stock or any other class or series of preferred stock that ranks on parity with the Series DD Preferred Stock as to payment of dividends and upon which voting rights equivalent to those granted by this Section 7(b)(i) have been conferred and are exercisable (any such class or series being referred to herein as “dividend parity stock”) have not been declared and paid in an aggregate amount equal, as to any class or series, to at least three semi-annual or six quarterly dividend periods, as applicable, (whether consecutive or not) (a “Nonpayment”), the authorized number of directors constituting the Board of Directors shall be increased by two, and the Holders, together with holders of dividend parity stock, shall have the right, voting separately as a single class without regard to class or series (and with voting rights allocated pro rata based on the liquidation preference of each such class or series), to the exclusion of the holders of Common Stock, to elect two directors of the Company to fill such newly created directorships (and to fill any vacancies in the terms of such directorships), provided that it shall be a qualification for election of any such director that the election of such director shall not cause the Company to violate the corporate governance requirements of the New York Stock Exchange (or other exchange on which the Company’s securities may be listed) that listed companies must have a majority of independent directors and further provided that the Board of Directors shall at no time include more than two such directors. Each such director elected by the Holders together with holders of dividend parity stock is a “Preferred Stock Director.”

(ii) Election. The election of the Preferred Stock Directors will take place at any annual meeting of stockholders or any special meeting of the Holders and any dividend parity stock, called as provided herein. At any time after the special voting power has vested pursuant to Section 7(b)(i) above, the secretary of the Company may, and upon the written request (addressed to the secretary at the Company’s principal office) of the holders of at least 20% of the voting power of the Series DD Preferred Stock or the holders of at least 20% of the voting power of any series of dividend parity stock then outstanding (with such voting power measured based on the voting power to elect Preferred Stock Directors), must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders of the Company, in which event such election shall be held at such next annual or special meeting of stockholders), call a special meeting of the holders of Series DD Preferred Stock and any dividend parity stock for the purposes of electing Preferred Stock Directors. The Preferred Stock Directors shall each be entitled to one vote per director on any matter.

(iii) Notice of Special Meeting. Notice for a special meeting to elect Preferred Stock Directors will be given in a similar manner to that provided in the Company’s by-laws for a special meeting of the stockholders. If the secretary of the Company does not call a special



meeting within 20 days after receipt of any such request, then any Holder may (at the expense of the Company) call such meeting, upon notice as provided in this Section 7(b)(iii), and for that purpose will have access to the stock register of the Company. The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director's election. In case any vacancy in the office of a Preferred Stock Director occurs (other than prior to the initial election of the Preferred Stock Directors), the vacancy may be filled by the Preferred Stock Director remaining in office, or if none remains in office, by a plurality of the votes cast by the holders of Series DD Preferred Stock and any dividend parity stock, voting together as a single class, and the Preferred Stock Director so appointed or elected to fill such vacancy shall serve for a term expiring at the next annual meeting of the stockholders. Preferred Stock Directors may only be elected by the holders of Series DD Preferred Stock and dividend parity stock in accordance with this Section 7. If the holders of Series DD Preferred Stock and such dividend parity stock fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors pursuant to this Section 7, then any directorship not so filled shall remain vacant until such time as the holders of Series DD Preferred Stock and such dividend parity stock elect a person to fill such directorship in accordance with this Section 7, or such vacancy is otherwise filled in accordance with this Section 7; and no such directorship may be filled by stockholders of the Company other than in accordance with this Section 7.

(iv) Termination; Removal. Whenever the Company has paid noncumulative dividends in full for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment on the Series DD Preferred Stock and on any dividend parity stock entitled to noncumulative dividends and has paid cumulative dividends in full on any dividend parity stock entitled to cumulative dividends, then the right of the Holders to elect the Preferred Stock Directors will cease (but subject always to the same provisions for the vesting of the special voting rights in the case of any similar non-payment of dividends in respect of future dividend periods) (the time of such cessation, the “Preferred Stock Director Termination Date”). Upon a Preferred Stock Director Termination Date, the terms of office of the Preferred Stock Directors will immediately terminate, the persons then serving as Preferred Stock Directors shall immediately cease to be qualified to hold office as Preferred Stock Directors, the Preferred Stock Directors shall cease to be directors of the Company and the number of directors constituting the Board of Directors shall be automatically reduced, without any action by the Board of Directors or the stockholders of the Company, by the number of Preferred Stock Directors authorized immediately prior to such termination. Any Preferred Stock Director may be removed at any time without cause by the holders of a majority of the voting power of outstanding shares of the capital stock then entitled to vote in the election of Preferred Stock Directors, voting together as a single class (with such voting power measured based on the voting power to elect Preferred Stock Directors).

(c) Senior Issuances; Adverse Changes. So long as any shares of Series DD Preferred Stock are outstanding, but subject to the final paragraph of this Section 7(c), in addition to any other vote or consent of holders of the Company’s capital stock required by Delaware law, the vote or consent of the holders of at least two-thirds of the voting power of the Series DD Preferred Stock and the holders of any other preferred stock entitled to vote thereon, voting together as a single class, given in person or by proxy at an annual or special meeting of



stockholders, or given in writing without a meeting, will be necessary for effecting or validating any of the following actions, whether or not such approval is required by Delaware law:

(i) any amendment, alteration or repeal of any provision of the Company’s certificate of incorporation (including the certificate of designations creating the Series DD Preferred Stock) or the Company’s by-laws that would alter or change the voting powers, preferences, economic rights or special rights of the Series DD Preferred Stock so as to affect them adversely;

(ii) any amendment or alteration of the Company’s certificate of incorporation to authorize or create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Company's capital stock ranking prior to the Series DD Preferred Stock in the payment of dividends or in the distribution of assets on any liquidation, dissolution, or winding up of the Company; or

(iii) the consummation of a binding share exchange or reclassification involving the Series DD Preferred Stock or a merger or consolidation of the Company with another entity, except that holders of Series DD Preferred Stock will have no right to vote under this provision or otherwise under Delaware law if in each case (i) the Series DD Preferred Stock remains outstanding or, in the case of any such merger or consolidation with respect to which the Company is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, that is an entity organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that is a corporation for U.S. federal income tax purposes (or if such entity is not a corporation, the Company having received an opinion of nationally recognized counsel experienced in such matters to the effect that Holders will be subject to tax for U.S. federal income tax purposes with respect to such new preferred securities after such merger or consolidation in the same amount, at the same time and otherwise in the same manner as would have been the case under the Series DD Preferred Stock prior to such merger or consolidation), and (ii) such Series DD Preferred Stock remaining outstanding or such preferred securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series DD Preferred Stock, taken as a whole;
provided, however, that, for the avoidance of doubt, any increase in the amount of the authorized or issued Series DD Preferred Stock or authorized preferred stock or any securities convertible into preferred stock or the creation and issuance, or an increase in the authorized or issued amount, of other series of preferred stock or any securities convertible into preferred stock ranking equally with and/or junior to the Series DD Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or noncumulative) and/or the distribution of assets upon the Company’s liquidation, dissolution or winding up will not be deemed to adversely affect the voting powers, preferences or special rights of the Series DD Preferred Stock, and no stockholder will have the right to vote on such an increase, creation or issuance by reason of this Section 7.
If any amendment, alteration, repeal, share exchange, reclassification, merger or consolidation specified in this Section 7(c) would adversely affect one or more but not all series of preferred stock of the Company, then only such series of preferred stock as are adversely affected by and entitled to vote on the matter shall vote on the matter together with the Series DD



Preferred Stock as a single class (in lieu of all other series of preferred stock) for purposes of the vote or consent required by this Section 7(c).

(d) No Vote if Redemption. No vote or consent of the Holders shall be required pursuant to Section 7(b) or 7(c) if, at or prior to the time when the act with respect to such vote or consent would otherwise be required shall be effected, the Company shall have redeemed or shall have called for redemption all outstanding shares of Series DD Preferred Stock, with proper notice and sufficient funds having been set aside for such redemption, in each case pursuant to Section 6 above.


Section 8. Preemption and Conversion Rights.

The Holders shall not have any preemptive rights or conversion rights as a result of the terms hereof.


Section 9. Rank.

For the avoidance of doubt, the Board of Directors or any duly authorized committee thereof may, without the vote of the Holders, authorize and issue additional shares of Junior Stock or shares of any class or series of stock of the Company now existing or hereafter authorized that ranks equally with the Series DD Preferred Stock in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.


Section 10. Reacquired Shares.

The Board of Directors shall take such actions as are necessary to cause the shares of Series DD Preferred Stock which have been redeemed or otherwise purchased or acquired by the Company to be retired and restored to the status of authorized but unissued shares of preferred stock without designation as to series.


Section 11. No Sinking Fund.

Shares of Series DD Preferred Stock are not subject to the operation of a sinking fund.


Section 12. Transfer Agent, Calculation Agent, Registrar and Paying Agent.

The duly appointed Transfer Agent, Calculation Agent, Registrar and paying agent for the Series DD Preferred Stock shall be Computershare Trust Company, N.A. The Company may, in its sole discretion, remove the Transfer Agent and/or the Calculation Agent in accordance with the agreements between the Company and the Transfer Agent; provided, however, that the Company shall appoint a successor transfer agent and/or calculation agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such



removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the Holders.


Section 13. Replacement Certificates for Mutilated, Destroyed, Stolen and Lost Certificates.

If physical certificates are issued, the Company shall replace any mutilated certificate at the Holder’s expense upon surrender of that certificate to the Transfer Agent. The Company shall replace certificates that become destroyed, stolen or lost at the Holder’s expense upon delivery to the Company and the Transfer Agent of satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be required by the Transfer Agent and the Company.


Section 14. Form.

(a) Series DD Preferred Stock Certificates. Series DD Preferred Stock shall be issued in certificated form in substantially the form attached hereto as Exhibit A (each, a “Series DD Preferred Stock Certificate”). Exhibit A is hereby incorporated in and expressly made a part of this Certificate of Designations. The Series DD Preferred Stock Certificates may have notations, legends or endorsements required by law, stock exchange rules, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company).

(b) Signature. Two Officers shall sign any Series DD Preferred Stock Certificate for the Company, in accordance with the Company’s by-laws and applicable law, by manual or facsimile signature. If an Officer whose signature is on a Series DD Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series DD Preferred Stock Certificate, such Series DD Preferred Stock Certificate shall be valid nevertheless. A Series DD Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns such Series DD Preferred Stock Certificate. Each Series DD Preferred Stock Certificate shall be dated the date of its countersignature.

Section 15. Taxes.

(a) Transfer Taxes. The Company shall pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or delivery of shares of Series DD Preferred Stock. The Company shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series DD Preferred Stock, in a name other than that in which the shares of Series DD Preferred Stock were registered, or in respect of any payment to any Person other than a payment to the registered holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.




(b) Withholding. All payments and distributions (or deemed distributions) on the shares of Series DD Preferred Stock shall be subject to withholding and backup withholding of tax to the extent required by law, subject to applicable exemptions, and amounts withheld, if any, shall be treated as received by Holders.

Section 16. Notices.

All notices referred to herein shall be in writing, and, unless otherwise specified herein, all notices hereunder shall be deemed to have been given upon the earlier of receipt thereof or three business days after the mailing thereof if sent by registered or certified mail (unless first class mail shall be specifically permitted for such notice under the terms of this Certificate of Designations) with postage prepaid, addressed: (i) if to the Company, to its office at 388 Greenwich Street, New York, New York 10013 (Attention: Corporate Secretary) or to the Transfer Agent at its office at 150 Royall Street, Canton, Massachusetts 02021, or other agent of the Company designated as permitted by this Certificate of Designations, or (ii) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Company (which may include the records of the Transfer Agent) or (iii) to such other address as the Company or any such Holder, as the case may be, shall have designated by notice similarly given.


Section 17. Other Rights Disclaimed.
The shares of Series DD Preferred Stock have no voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Certificate of Incorporation of the Company.

IN WITNESS WHEREOF, this Certificate of Designations has been executed on behalf of the Company by its Assistant Treasurer this 29th day of July, 2024.

CITIGROUP INC.



By: /s/ Aaditya Niranjan ____________
Name: Aaditya Niranjan
Title: Assistant Treasurer













Exhibit A

FORM OF 7.000% FIXED RATE RESET NONCUMULATIVE PREFERRED STOCK, SERIES DD

Certificate Number_______ Number of Shares of Series DD Preferred Stock______
CUSIP NO.:

CITIGROUP INC.

7.000% Fixed Rate Reset Noncumulative Preferred Stock, Series DD
(par value $1.00 per share) (liquidation preference $25,000 per share)

Citigroup Inc., a Delaware corporation (the “Company”), hereby certifies that [ ] (the “Holder”) is the registered owner of [ ] fully paid and non-assessable shares of the Company’s designated 7.000% Fixed Rate Reset Noncumulative Preferred Stock, Series DD, with a par value of $1.00 per share and a liquidation preference of $25,000 per share (the “Series DD Preferred Stock”). The shares of Series DD Preferred Stock are transferable on the books and records of the Registrar, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Series DD Preferred Stock represented hereby are and shall in all respects be subject to the provisions of the Certificate of Designations dated July 29, 2024 as the same may be amended from time to time (the “Certificate of Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations. The Company will provide a copy of the Certificate of Designations to a Holder without charge upon written request to the Company at its principal place of business.
Reference is hereby made to select provisions of the Series DD Preferred Stock set forth on the reverse hereof, and to the Certificate of Designations, which select provisions and the Certificate of Designations shall for all purposes have the same effect as if set forth at this place.
Upon receipt of this certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.
Unless the Registrar has properly countersigned, these shares of Series DD Preferred Stock shall not be entitled to any benefit under the Certificate of Designations or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, this certificate has been executed on behalf of the Company by its [Title] and by its [Title] this __ day of _______, ________.

CITIGROUP INC.

By: _______________________________________ Name: Title:

By: _______________________________________ Name: Title:

REGISTRAR’S COUNTERSIGNATURE



These are shares of Series DD Preferred Stock referred to in the within-mentioned Certificate of Designations.
Dated:

COMPUTERSHARE TRUST COMPANY, N.A., as Registrar
By: _______________________________________ Name: Title:

REVERSE OF CERTIFICATE
Dividends on each share of Series DD Preferred Stock shall be payable at the rate provided in the Certificate of Designations.
The shares of Series DD Preferred Stock shall be redeemable at the option of the Company in the manner and in accordance with the terms set forth in the Certificate of Designations.
The Company shall furnish without charge to each holder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class or Series of share capital issued by the Company and the qualifications, limitations or restrictions of such preferences and/or rights.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers the shares of Series DD Preferred Stock evidenced hereby to:
___________________________________________________
___________________________________________________
(Insert assignee’s social security or taxpayer identification number, if any)
___________________________________________________
___________________________________________________
(Insert address and zip code of assignee)
and irrevocably appoints:
___________________________________________________
___________________________________________________
as agent to transfer the shares of Series DD Preferred Stock evidenced hereby on the books of the Transfer Agent. The agent may substitute another to act for him or her.
Date:
Signature:
___________________________________________________
(Sign exactly as your name appears on the other side of this Certificate)
Signature Guarantee: ___________________________________________________
(Signature must be guaranteed by an “eligible guarantor institution” that is a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Transfer Agent, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Transfer Agent in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.)








CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 70,000 shares of 6.300% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series M (the "Preferred Stock, Series M"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series M.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series M are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 21st day of August, 2024.


CITIGROUP INC.


By: /s/ Elissa Steinberg
Elissa Steinberg
Assistant Treasurer









CERTIFICATE OF RETIREMENT
OF PREFERRED STOCK
OF CITIGROUP INC.
(Pursuant to Section 243 of the General
Corporation Law of the State of Delaware)



CITIGROUP INC., a corporation duly organized and existing under the General Corporation Law of the State of Delaware, certifies as follows:

FIRST: Citigroup's Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), authorizes the issuance of 60,000 shares of 5.000% Fixed Rate / Floating Rate Non-Cumulative Preferred Stock, Series U (the "Preferred Stock, Series U"), each such share with $1.00 par value and a stated value of $25,000 per share.

SECOND: Citigroup has retired all of the authorized shares of the Preferred Stock, Series U.

THIRD: Pursuant to the provisions of Section 243 of the General Corporation Law of the State of Delaware, the shares that were designated to Preferred Stock, Series U are hereby returned to the status of authorized but unissued shares of the Preferred Stock of Citigroup Inc.

IN WITNESS WHEREOF, CITIGROUP INC. has caused this certificate to be signed by the below duly authorized Assistant Treasurer this 20th day of September, 2024.


CITIGROUP INC.


By: /s/ Elissa Steinberg
Elissa Steinberg
Assistant Treasurer