Mr. John Fenton reports

BMO TO REDEEM $1,250 MILLION SERIES J MEDIUM-TERM NOTES (NON-VIABILITY CONTINGENT CAPITAL (NVCC)) (SUBORDINATED INDEBTEDNESS) SECOND TRANCHE

Bank of Montreal intends to redeem all of its $1.25-billion Series J medium-term-note (non-viability contingent capital) (subordinated indebtedness) second tranche due June 17, 2030. The redemption will occur on June 17, 2025. The notes are redeemable at a redemption price equal to 100 per cent of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the redemption date. Interest on the notes will cease to accrue from and after the redemption date.

The redemption has been approved by the Office of the Superintendent of Financial Institutions. Notice will be delivered to holders of the notes in accordance with the related indenture.

About Bank of Montreal

BMO is the eighth-largest bank in North America by assets, with total assets of $1.5-trillion as of Jan. 31, 2025. 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, across 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.