Citibank Europe plc, UK Branch 0808 109 8888 or Level 10, Citigroup Centre 1 +44 207 500 1445 33 Canada Square (if calling from outside the UK) London E14 5LB ipb.citi.com United Kingdom

International Personal Bank

October 2018

Delivering our wealth and banking services after the UK leaves the EU

Let me start by thanking you for choosing Citi as your wealth and banking partner, and for the trust you place in us.

As the UK prepares to withdraw from the European Union (“EU”), I wanted to take this opportunity to share some of the changes we are proposing to ensure our tailored international wealth service continues to meet your goals and aspirations.

What’s changing? Currently, Citi International Personal Bank is run through Citibank Europe plc, UK Branch, headquartered in Ireland. We now intend to establish a new UK Bank, headquartered in London, and transfer our Citi International Personal Bank business to this new UK Bank (known as the “Proposed Transfer”), which is called“Citibank UK Limited”.

When and how will this happen? We have already applied to the UK regulators for permission to set up the new Bank and, early next year, will ask the Court to approve the Proposed Transfer. If the UK Regulators authorise the new Bank and the Court approves the Proposed Transfer, we plan to transfer Citi International Personal Bank to our new UK Bank in March 2019, at which point it will be fully operational.

What this means for you If the Proposed Transfer is approved, all of your accounts, investments and services currently held with Citibank Europe plc, UK Branch will be provided by our new UK Bank. At present, we do not expect this process to have any material impact on you and we expect your existing accounts and terms and conditions with Citibank Europe plc, UK Branch to transfer automatically to our new UK Bank.

For now, it is our intention that your existing accounts and terms and conditions with Citibank Europe plc, UK Branch will transfer to our new UK Bank automatically.

I look forward to keeping you fully informed of our progress, and to welcoming you to our new UK Bank in March 2019. It is an important milestone for our Citi International Personal Bank business in London, and we are dedicated to continue serving you through these changing times.

In the meantime, if you have any questions please do not hesitate to contact your Relationship Manager. You may also find the Frequently Asked Questions overleaf useful.

Thank you again for your continued trust in Citi.

Yours sincerely,

Salman Haider Managing Director Head - UK Consumer Bank & International Personal Bank (EMEA) Citibank Europe plc, UK Branch 0808 109 8888 or Level 10, Citigroup Centre 1 +44 207 500 1445 (if calling from outside the UK) 33Frequently Canada Square Asked Questions London E14 5LB ipb.citi.com United Kingdom What is the new UK Bank? We have established a new company in the UK that is intended to become our UK Bank. The new company is a Internationalsubsidiary of Citibank Personal N.A. (our Bank U.S. Bank). We have applied to the UK Prudential Regulation Authority and the Financial Conduct Authority (the UK Regulators) for authorisation of the new company as a Bank. If the application is approved, we will transfer your accounts and terms and conditions to the new UK Bank, which is called “Citibank UK Limited”.

How will the Proposed Transfer work? We will ask the Court to make an order to transfer the current Citi International Personal Bank business from Citibank Europe plc, UK Branch to our new UK Bank. This means your existing accounts and agreements with Citibank Europe plc, UK Branch will transfer to the new Bank automatically if approved by the Court. As part of the Court’s process, you will have the right to object formally if you feel you may be adversely affected by the Proposed Transfer, and further details of how to do so will be provided when we write to you again.

Why are we writing to you now? We are writing to you at this early stage to provide you with advance notice of our proposals. We intend to apply to the Court to start the formal transfer process and will write to you again to provide further details of the transfer. If you have any questions in the meantime, please let us know.

Citibank Europe plc is authorised by the Central Bank of Ireland and by the Prudential Regulation Authority. It is subject to supervision by the Central Bank of Ireland, and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority are available from us on request. Citibank Europe plc, UK Branch is registered as a branch (registration number FC032763) in the register of companies for England and Wales. The registered address in the UK is Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB. Citibank Europe plc is registered in Ireland with number 132781, with its registered office at 1 North Wall Quay, Dublin 1. Citibank Europe plc is regulated by the Central Bank of Ireland. Ultimately owned by Citigroup Inc., New York, USA. © Citibank N.A. 2018. CITI, CITI and Arc Design are registered service marks of Citigroup Inc. Calls may be monitored or recorded for training and service quality purposes.

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