Mr. Steve Tennyson reports

BMO APPOINTS CHIEF ARTIFICIAL INTELLIGENCE AND DATA OFFICER

Bank of Montreal has appointed Kristin Milchanowski as its new chief artificial intelligence and data officer, effective Oct. 15, 2024.

Ms. Milchanowski will drive BMO's artificial intelligence, data, analytics, robotics strategies and supporting technologies, championing a transformative AI road map that optimizes and enhances business value. Additionally, she will focus on data management and data governance across the organization, deepening the bank's robust and established culture of innovation and accountability.

"Kristin brings extensive knowledge and expertise in transforming businesses by leveraging the full potential of their data and technology," said Steve Tennyson, chief technology and operations officer, BMO. "I look forward to working with Kristin as we advance our digital first strategy and harness the power of AI solutions that will differentiate the digital experience for our customers and colleagues."

Ms. Milchanowski is a global AI executive with more than 20 years of experience, most of that in the financial sector. Most recently, Ms. Milchanowski was a global innovation partner/principal at EY, focused on AI, high process computing and quantum technologies. Ms. Milchanowski is an artificial intelligence associate fellow of the University of Oxford, where she completed postdoctoral studies in AI, and holds a PhD in decision sciences.

This appointment builds upon BMO's significant investments in AI. In recent years, BMO has been recognized by Evident AI as one of the top-10 banks in the world in AI innovation, has received the commercial banking impact award in the artificial intelligence and advanced analytics category by Datos Insights, and has been named one of Fast Company's most innovative companies in the world.

Additionally, BMO sponsors, partners with and provides subject matter expertise for organizations and technology accelerators across North America, including:

• Vector Institute: a globally renowned AI institute enabling businesses to responsibly adopt and accelerate AI. Along with supporting the AI ecosystem and anchoring to its analytic strategy focus, BMO has consistently partnered with the Vector team to advance its artificial-intelligence-enabled solutions through technology transfer, talent attraction, and training and upskilling.
• Creative Destruction Lab: a non-profit organization that delivers a mentorship program for massively scalable, seed-stage science and technology-based companies. BMO's partnership with CDL-Montreal helps AI and data science businesses grow into high-growth companies.
• Next AI: a founder development network for entrepreneurs looking to solve global challenges with artificial-intelligence-based ventures and technology commercialization. BMO was a founding supporter of Next AI, engaging to help identify and support early-stage ventures, which receive access to resources, mentorship education and the network they need to succeed.

About Bank of Montreal

BMO Financial Group is the eighth-largest bank in North America by assets, with total assets of $1.4-trillion as of July 31, 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 market, 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.