Mr. John Fenton reports

BANK OF MONTREAL ENTERS INTO AUTOMATIC SECURITIES PURCHASE PLAN

Bank of Montreal has entered into an automatic securities purchase plan (ASPP) with its broker, BMO Nesbitt Burns Inc., in order to facilitate repurchases of BMO common shares in connection with its previously announced intention to purchase for cancellation up to 20 million common shares under a normal course issuer bid. While the ASPP has been approved by the Toronto Stock Exchange, the purchase of any common shares under the ASPP will not begin until after the approval of such normal course issuer bid by the Office of the Superintendent of Financial Institutions Canada (OSFI) and the TSX.

The actual number of common shares purchased under the normal course issuer bid, the timing of purchases and the price at which the common shares are bought will depend upon management discretion based on factors such as market conditions and capital adequacy. The purchase price for any common shares repurchased by the bank under the normal course issuer bid will be market price at the time of acquisition. The bank will consult with OSFI prior to making purchases. Bank of Montreal intends to file a notice of intention with the TSX in this regard and, subject to regulatory approvals, the bid would commence following TSX acceptance of the notice and continue for up to one year.

About Bank of Montreal

BMO Financial Group is the eighth-largest bank in North America by assets, with total assets of $1.41-trillion as of Oct. 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 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.

We seek Safe Harbor.