Citigroup Inc. and ValueAct Capital announced that they have entered into an Information Sharing and Engagement Agreement which will formalize and expand on the constructive dialogue between Citi and ValueAct that began in early 2018. The Agreement provides for a deeper level of engagement and collaboration between Citi and ValueAct. It enables ValueAct to have access to confidential information about the company and engage with members of Citi’s management team and Board of Directors on areas such as strategy, governance and operational planning matters. The Agreement also provides for ValueAct's support for management and the Board through the term of the Agreement, which lasts through December of 2019. A representative of ValueAct currently sits on the board of Alliance Data Systems, a competitor of Citi’s in certain business lines. Due to issues around board interlocks of competitors, ValueAct is not pursuing a board seat at Citi at this time. Citi and ValueAct have discussed that when this situation changes, it is likely that ValueAct will propose a candidate for a board seat and Citi would consider the request, following its usual process for director candidates.