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Ken Griffin – Citadel Year-End Investor Letter

January 20, 2012

Dear Investor,

We are pleased to report that Citadel Wellington LLC (“Wellington”) and Citadel Kensington Global Strategies Fund Ltd. (“Kensington”) have generated net returns in excess of 20 percent for 2011. The solid performance of the funds was driven by the strength and breadth of our investment team and reflects the valuable lessons we have learned during prior periods of market turmoil.

Ken Griffin CITADEL INVESTMENT GROUP

Our profitability continues to be driven by three key strengths: an unparalleled emphasis on talent, a commitment to doing work that makes a difference, and a relentless focus on monetizing our ideas. We believe the competitive advantages created by these attributes are not easily replicated, and will stand the test of time…

Ken Griffin year-end letter to investors

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