File: Attachment 06152754-00000001-00034037-ZJUL_-_Press_Release_-_V4-23776504_-_EN-PDF.pdf

NEWS

FOR IMMEDIATE RELEASE

BMO Introduces New Structured Outcome ETF

New Buffer ETF offers downside protection for investors

TORONTO, July 2, 2024 BMO Asset Management Inc. ("BMOAM Inc."), the manager of the BMO ETFs, today announced the launch of BMO US Equity Buffer Hedged to CAD ETF July.

BMO US Equity Buffer Hedged to CAD ETF July (Cboe CA: ZJUL) has closed its initial offering of exchange traded units and is today listed and trading on Cboe Canada Inc.

BMO US Equity Buffer Hedged to CAD ETF July

BMO US Equity Buffer Hedged to CAD ETF July seeks to provide unitholders with income and appreciation (before fees, expenses and taxes) that matches to the extent possible the return of a Reference Index designed to measure the large-cap segment of the US equity market (the "Reference Index") up to a cap (before fees, expenses and taxes), while providing a buffer against the first 15% (before fees, expenses and taxes) of a decrease in the market price of the Reference Index, over a period of approximately one year from the first business day of July of each year to on or about the last business day of June of the following year, referred to as the Target Outcome Period. The current Reference Index is the S&P 500 Hedged to Canadian Dollars Index.

In order to seek to achieve its investment objectives, BMO US Equity Buffer Hedged to CAD ETF July will primarily invest in BMO S&P 500 Hedged to CAD Index ETF (the "Reference ETF"). BMO US Equity Buffer Hedged to CAD ETF July may also invest in Converge Options that reference the price return of the Reference ETF to employ a "target outcome strategy". Target outcome strategies seek to produce predetermined investment outcomes based upon the performance of the Reference ETF during the applicable Target Outcome Period. The predetermined outcomes sought by BMO US Equity Buffer Hedged to CAD ETF July, which include a buffer against the first 15% (before fees, expenses and taxes) of decrease in the market price of Reference ETF and a predetermined upside cap (before fees, expenses and taxes), are based on the return of the Reference ETF over the Target Outcome Period.

Each Target Outcome Period will be a period of approximately one year from the first business day of July of each year to on or about the last business day of June of the following year.

The Reference ETF, BMO S&P 500 Hedged to CAD Index ETF, seeks to replicate, to the extent possible, the performance of a broad U.S. stock market index, net of expenses. Currently, BMO S&P 500 Hedged to CAD Index ETF seeks to replicate the performance of the S&P 500 Hedged to Canadian Dollars Index. The investment strategy of BMO S&P 500 Hedged to CAD Index ETF is currently to obtain exposure to the performance of the S&P 500 Hedged to Canadian Dollars Index by investing in assets such as ETFs, mutual funds or other investment funds, ADRs or derivative instruments. Currently, BMO S&P 500 Hedged to CAD Index ETF primarily invests in BMO S&P 500 Index ETF and uses derivative instruments to hedge back to the Canadian dollar. As an alternative to or in conjunction with primarily investing in assets such as ETFs, mutual funds or other investment funds, ADRs or derivative instruments, BMO S&P 500 Hedged to CAD Index ETF may invest in and hold the constituent securities of the S&P 500 Hedged to Canadian Dollars Index. The Portfolio Manager may also use a sampling methodology in selecting investments for BMO S&P 500 Hedged to CAD Index ETF to obtain exposure to the performance of the S&P 500 Hedged to Canadian Dollars Index.

About Structured Outcome ETFs

BMO US Equity Buffer Hedged to CAD ETF July is the newest addition to BMO ETFs' Structured Outcome ETFs. Collectively, BMO Canadian Banks Accelerator ETF, BMO US Equity Accelerator Hedged to CAD ETF, BMO US Equity Buffer Hedged to CAD ETF January, BMO US Equity Buffer Hedged to CAD ETF April, BMO US Equity Buffer Hedged to CAD ETF July and BMO US Equity Buffer Hedged to CAD ETF October are referred to as the "Structured Outcome ETFs". The Structured Outcome ETFs aim to provide investors with a return over a specified target outcome period (each, a "Target Outcome Period").

An investor that purchases units of a Structured Outcome ETF other than on the first day of a Target Outcome Period and/or redeems or sells units of a Structured Outcome ETF prior to the end of a Target Outcome Period may experience results that are very different from the target outcomes sought by such Structured Outcome ETF for that Target Outcome Period. To achieve the intended target outcomes sought by a Structured Outcome ETF for a Target Outcome Period, an investor must hold units of the Structured Outcome ETF for that entire Target Outcome Period.

Please refer to the Structured Outcome ETFs' website (https://www.bmogam.com/ca- en/products/structured-outcomes/ ) for important information about the Structured Outcome ETFs' Target Outcome Period start and end dates and the applicable cap and buffer.

Further information can be found at BMO ETF Centre.

Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently, and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF's prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. "BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence.

About BMO Exchange Traded Funds (ETFs) BMO Exchange Traded Funds has been an ETF provider in Canada for 15 years, with over 100 strategies, over 22 per cent market share in Canada, and $107 billion in assets under management1. BMO ETFs are designed to stay ahead of market trends and provide compelling solutions to help advisors and investors. This includes a comprehensive suite of ETFs developed in Canada for Canadians, such as cost-effective core equity ETFs following market leading indexes, and a broad range of fixed income ETFs; solution-based ETFs responding to client demand; and innovation with smart beta ETFs, as well as combining active and passive investing with ETF series of active mutual funds.

1Morningstar, May 2024

About BMO Financial Group BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.

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Media Contact: Aaron Sobeski, Toronto, Aaron.Sobeski@bmo.com, (416) 867-3996