Overview

• The agreement covers about 520 million ordinary shares priced at 0.80 times book value, implying roughly 42,000 million pesos and 0.95 times tangible book at signing.
• Completion is contingent on customary conditions and Mexican regulatory approvals, with closing expected in the second half of 2026.
• At closing, Fernando Chico Pardo will become chairman of Grupo Financiero Banamex, while Ignacio Deschamps and CEO Manuel Romo will remain in their current roles.
• Citi frames the investment as a long‑term partnership and maintains that an IPO of Banamex remains an option depending on market conditions and authorities.
• Citi recorded an approximately $726 million goodwill impairment in Q3 2025 related to the transaction, which it said is neutral to its capital.