Autocallable Dual Directional Trigger PLUS Based on the Class A Common Stock of Palantir Technologies Inc. Due August , 2027
Principal at Risk Securities

This document provides a summary of the terms of the securities. Investors must carefully review the accompanying preliminary pricing supplement referenced below, product supplement, prospectus supplement and prospectus, and the “Risk Considerations” on the following page, prior to making an investment decision.

Summary Terms
Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Underlying shares:	Shares of the Class A common stock of Palantir Technologies Inc. (ticker symbol: “PLTR”) (the “underlying share issuer”)
Stated principal amount:	$1,000 per security
Pricing date:	July 31, 2025
Issue date:	August 5, 2025
Valuation dates:	Expected to be August 7, 2026 (the “interim valuation date”) and July 30, 2027 (the “final valuation date”), each subject to postponement if such date is not a scheduled trading day or certain market disruption events occur with respect to the underlying shares
Automatic early redemption:	If, on the interim valuation date, the closing price of the underlying shares is greater than or equal to the initial share price, the securities will be automatically redeemed on the third business day following the interim valuation date for an amount in cash per security equal to $1,000 plus the interim redemption premium. If the securities are automatically redeemed following the interim valuation date, they will cease to be outstanding.
Interim redemption premium¹:	36.85% of the stated principal amount. The interim redemption premium may represent a return that is significantly less than the appreciation of the underlying shares from the pricing date to the interim valuation date.
Maturity date:	August 4, 2027
Payment at maturity¹:	If the securities have not previously been redeemed, you will receive at maturity, for each $1,000 stated principal amount security you hold at maturity: § If the final share price is greater than the initial share price: $1,000 + the leveraged return amount § If the final share price is less than or equal to the initial share price but greater than or equal to the trigger price: $1,000 + ($1,000 × the absolute share return) § If the final share price is less than the trigger price: $1,000 + ($1,000 × the share return) If the final share price is less than the trigger price, your payment at maturity will be less, and possibly significantly less, than $650.00 per security. You should not invest in the securities unless you are willing and able to bear the risk of losing a significant portion and up to all of your investment.
Initial share price:	The closing price of the underlying shares on the pricing date
Final share price:	The closing price of the underlying shares on the valuation date
Absolute share return:	The absolute price of the share return
Leveraged return amount:	$1,000 × the share return × the upside leverage factor

Upside leverage factor:

150.00%

Share return:	(i) The final share price minus the initial share price, divided by (ii) the initial share price
Trigger price:	65.00% of the initial share price
CUSIP/ISIN:	17333LNU5 / US17333LNU51
Preliminary pricing supplement:	https://www.sec.gov/Archives/edgar/data/200245/000095010325008887/dp23 1614_424b2-us2585847d.htm

Hypothetical Payout at Maturity¹ (If the securities have not previously been redeemed)
Change in Underlying Shares	Return on Securities
+50.00%	+75.00%
+40.00%	+60.00%
+30.00%	+45.00%
+20.00%	+30.00%
+10.00%	+15.00%
+5.00%	+7.50%
0.00%	0.00%
-5.00%	+5.00%
-10.00%	+10.00%
-20.00%	+20.00%
-25.00%	+25.00%
-30.00%	+30.00%
-35.00%	+35.00%
-36.00%	-36.00%
-40.00%	-40.00%
-50.00%	-50.00%
-60.00%	-60.00%
-80.00%	-80.00%
-100.00%	-100.00%
¹All payments are subject to our credit risk

On the date of the accompanying preliminary pricing supplement, Citigroup Global Markets Holdings Inc. expects that the estimated value of the securities on the pricing date will be at least $907.50 per security, which will be less than the public offering price. The estimated value of the securities is based on Citigroup Global Markets Inc.’s (“CGMI”) proprietary pricing models and Citigroup Global Markets Holdings Inc.’s internal funding rate. It is not an indication of actual profit to CGMI or other of Citigroup Global Markets Holdings Inc.’s affiliates, nor is it an indication of the price, if any, at which CGMI or any other person may be willing to buy the securities from you at any time after issuance. See “Valuation of the Securities” in the accompanying preliminary pricing supplement.

Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed registration statements (including the accompanying preliminary pricing supplement, product supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the accompanying preliminary pricing supplement, product supplement, prospectus supplement and prospectus in those registration statements (File Nos. 333-270327 and 333-270327-01) and the other documents Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed with the SEC for more complete information about Citigroup Global Markets Holdings Inc., Citigroup Inc. and this offering. You may obtain these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request these documents by calling toll-free 1-800-831-9146.

For more information about the underlying shares, including historical performance information, see the accompanying preliminary pricing supplement.

The risks set forth below are discussed in more detail in the “Summary Risk Factors” section in the accompanying preliminary pricing supplement. Please review those risk factors carefully prior to making an investment decision.

You should review carefully the discussion in the accompanying preliminary pricing supplement under the heading “United States Federal Tax Considerations” concerning the U.S. federal tax consequences of an investment in the securities, and you should consult your tax adviser.