MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ) 424B Filings

Bank of Montreal files Amendment No. 4 to the pricing supplement for its Gold -3X Inverse Leveraged ETNs due January 29, 2043, reflecting a 1-for-50 reverse split effective February 24, 2026 and current instrument metrics.

The pricing supplement states $1,250 principal per note after the reverse split and expects 270,000 notes outstanding, representing an aggregate principal amount of $337,500,000, after giving effect to the reverse split. It discloses a closing trading price of $0.7975 per note and a closing Indicative Note Value of $0.8000 on February 23, 2026 (reverse-split adjusted to $40.0000). The document reiterates the notes’ daily-reset -3x inverse linkage to the SPDR Gold Shares (GLD), the 0.95% annual Daily Investor Fee, a potential Daily Interest spread adjustable up to 4.00%, and a 0.125% Redemption Fee Amount, and restates material risks including path dependence, decay, and issuer credit risk.

Bank of Montreal priced a tranche of 32,000 ETNs linked to the MicroSectors™ U.S. Big Banks -3× Inverse Index, representing an aggregate principal amount of $4,000,000 (principal amount $125 per ETN after a 1-for-5 reverse split). The ETNs mature on February 17, 2045 and trade under ticker BNKD.

These ETNs target a daily -3× leveraged inverse return to the gross total return version of the Solactive index, but include a Daily Investor Fee of 0.95% per annum, a possible Daily Interest (based on Federal Funds Effective Rate minus a 2.00% initial spread, adjustable up to 4.00%), and a Redemption Fee of 0.125%. They are unsecured obligations of the issuer, intended as short‑term trading tools; due to daily resetting and path dependence the ETNs are not designed for buy‑and‑hold and may lose the entire principal.

Bank of Montreal amends the pricing supplement for its Gold 3X Leveraged ETNs, covering 10,000,000 notes with a post-split principal of $2.50 per note. The notes provide a daily-resetting 3x long exposure to SPDR® Gold Shares (GLD), subject to a 0.95% per annum Daily Investor Fee, a Daily Financing Charge tied to the Federal Reserve Bank Prime Loan Rate plus an initial 2.75% Financing Spread (may increase up to 5.00%), and a 0.125% Redemption Fee Amount on early redemptions.

The notes mature on January 29, 2043 (with possible issuer extensions), do not pay interest, do not guarantee principal, are unsecured senior obligations of Bank of Montreal, and are explicitly described as short‑term daily trading tools not intended to be held beyond one trading day because of path‑dependent "decay" and substantial loss risk.

Bank of Montreal priced a series of exchange-traded notes: 20,000 Travel -3X Inverse Leveraged ETNs representing an aggregate principal amount of $50,000,000, with a principal amount of $2,500 per note after a 1-for-10 reverse split.

The notes (ticker FLYD) mature on May 29, 2042 and provide a daily-resetting -3x leveraged inverse exposure to the MerQube U.S. Travel Index (ticker MQUSTRAV). Key economics: a 0.95% per annum Daily Investor Fee, a Daily Interest rate equal to the US Federal Funds Effective Rate minus an Interest Rate Spread initially 2.00% (adjustable up to 4.00%), and a 0.125% Redemption Fee Amount on voluntary redemptions. The notes do not guarantee principal and are intended as short-term, daily trading tools rather than buy-and-hold investments.

Bank of Montreal is offering Senior Medium-Term Notes, Series K, a primary issuance of redeemable fixed-rate notes with a $1,000 principal per Note and a 5.00% annual interest rate. The Trade Date is March 9, 2026, Issue Date is March 11, 2026, and the Stated Maturity Date is March 11, 2039.

The Notes pay interest semi-annually on March 11 and September 11, commencing September 11, 2026, are redeemable in whole (but not in part) by the issuer on semi-annual Optional Redemption Dates beginning September 11, 2027, and will not be listed on any exchange. The pricing shows an original issue price of $1,000.00 per Note with an underwriting discount of $20.00, and proceeds to Bank of Montreal of $980.00 per Note.

The Notes are bail-inable under the Canadian CDIC Act and may be converted into common shares of Bank of Montreal (or affiliates) under subsection 39.2(2.3) of the CDIC Act; purchasers are deemed to agree to those terms.

Bank of Montreal is offering Market Linked Securities—auto-callable, contingent coupon notes linked to the common stock of Dow Inc. (ticker DOW) with an original offering price of $1,000 per security.

The pricing date is February 26, 2026 (issue date March 3, 2026) and the stated maturity date is March 1, 2029. The contingent coupon rate will be determined on the pricing date and will be at least 13.30% per annum. Estimated initial value on the preliminary pricing supplement is $960.20 per security (not less than $920.00 at pricing). The securities are unsecured obligations of Bank of Montreal, carry principal-at-risk if the ending value of the Underlier is below the downside threshold (equal to 60% of the starting value), and include an automatic call feature if the Underlier closes at or above the starting value on specified quarterly calculation days.

Bank of Montreal priced US$1,483,000 Senior Medium-Term Notes, Series K — Autocallable Buffer Notes with Contingent Coupons due November 24, 2028, linked to the least performing of the VanEck® Gold Miners ETF (GDX) and the iShares® 20+ Year Treasury Bond ETF (TLT).

Key terms: Pricing Date February 19, 2026, Settlement February 24, 2026, Valuation Date November 20, 2028. Contingent Interest Rate is 1.1083% per month (approximately 13.30% per annum) if each Reference Asset meets its Coupon Barrier on an Observation Date. The notes feature an automatic redemption if both Reference Assets exceed 90% of initial levels on an Observation Date, a Buffer Percentage of 15.00%, Coupon Barrier Levels of $83.39 (GDX) and $71.70 (TLT), and Buffer Levels of $88.60 (GDX) and $76.18 (TLT).

Bank of Montreal priced US$886,000 Senior Medium‑Term Notes, Series K. The notes are Callable Buffer Notes with Contingent Coupons linked to the least performing of the S&P 500® (SPX), NASDAQ‑100® (NDX) and Russell 2000® (RTY).

Key terms: Pricing Date February 19, 2026, Settlement Date February 24, 2026, Valuation Date February 23, 2029, Maturity Date February 28, 2029. Contingent Interest Rate is 0.75% per month (≈9.00% per annum) if each Reference Asset is at or above its Coupon Barrier on Observation Dates. Price to public was 100% and the estimated initial value was $984.30 per $1,000.

Bank of Montreal is offering $1,000,000 aggregate principal of Senior Medium-Term Notes, Series K, Autocallable Buffer Enhanced Return Notes linked to the State Street SPDR S&P Bank ETF (KBE). The notes have a Pricing Date: February 19, 2026, Settlement Date: February 24, 2026, Valuation Date: February 18, 2028 and Maturity Date: February 24, 2028.

The structure delivers 125.00% upside leverage if not auto‑redeemed, a 10.00% downside buffer, and an automatic early redemption on February 25, 2027 if the Reference Asset is at or above its Call Level; the Call Amount equals $156.00 per note (approximately 15.60% per annum). Payments are subject to the issuer’s credit risk and the notes do not pay interest or trade on an exchange.

Bank of Montreal prices US$13,566,000 of Senior Medium-Term Notes, Series K—Callable Buffer Notes with Contingent Coupons due February 26, 2029.

The notes pay a monthly contingent coupon of 0.9667% per month (~11.60% per annum) when each reference index (the S&P 500, Russell 2000 and Dow Jones Industrial Average) closes on a coupon observation date at or above 80.00% of its initial level. If not called, principal at maturity depends on the performance of the least performing reference asset and features a 20.00% buffer and a 125.00% downside leverage factor, meaning losses beyond 20.00% are multiplied by 1.25; payments could be significantly less than principal, including zero.

Bank of Montreal prices US$1,607,000 Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Contingent Coupons linked to the least performing of the S&P 500®, NASDAQ-100® and Russell 2000®, with Pricing Date February 19, 2026 and Maturity Date February 26, 2029.

The notes pay a monthly contingent coupon of 0.8042% per month (approximately 9.65% per annum) when each reference asset is at or above an 80% coupon barrier on observation dates, carry an automatic redemption feature if all reference assets are at or above their call levels on an observation date beginning August 21, 2026, and expose holders at maturity to downside risk if any reference asset closes below its 70% trigger level on the valuation date February 21, 2029.

Bank of Montreal priced US$1,230,000 Senior Medium-Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons linked to the least performing of META, NFLX and NVDA.

Pricing Date was February 19, 2026, Settlement Date February 24, 2026, Valuation Date February 21, 2029 and Maturity Date February 26, 2029. The notes pay a Contingent Coupon of 1.55% per month (approximately 18.60% per annum) when each reference asset closes at or above its Coupon Barrier Level; unpaid coupons can be paid later under the Memory Coupon Feature. Coupon Barrier and Trigger Levels equal 60.00% of each Initial Level (META $386.87, NFLX $46.20, NVDA $112.74). Automatic redemption begins on August 21, 2026 if each Reference Asset closes at or above 100% of its Initial Level on an Observation Date; on redemption investors receive principal plus any due Contingent Coupons. Payment at maturity is cash only and depends on the performance of the Least Performing Reference Asset; if a Trigger Event occurs, maturity payment equals $1,000 + ($1,000 x Percentage Change), which can be less than principal. The estimated initial value on the Pricing Date was $956.21 per $1,000 principal amount. Price to public was 100% with an Agent’s Commission of 2.00%.

Bank of Montreal (BERZ) priced equity-linked, auto-callable senior notes due February 23, 2029. These market-linked securities pay a contingent coupon of 23.30% per annum (monthly calculation) if the lowest-performing Underlier meets its 50% coupon threshold on each calculation day.

The three Underliers and their starting values on the pricing date February 19, 2026 are: CRWD $422.14, GOOGL $302.85, and MU $417.35. Original offering price was $1,000 per security; issuer proceeds were $976.75 per security. The issuer’s estimated initial value was $947.14 per security.

If automatically called between August 2026 and January 2029 when the lowest-performing Underlier is at or above its starting value, you receive face amount plus accrued contingent coupons. If not called, at maturity you receive either $1,000 or a reduced payment equal to $1,000 × performance factor of the lowest-performing Underlier; downside protection ends at a 50% decline.

Bank of Montreal is offering $2,000,000 aggregate principal of Senior Medium-Term Notes, Series K, redeemable fixed-rate notes due February 24, 2038. The Notes pay 5.05% per annum interest semi-annually beginning August 24, 2026, are issued in $1,000 denominations, and are redeemable in whole (but not in part) on semi-annual Optional Redemption Dates commencing February 24, 2028 at 100% of principal plus accrued interest. The Notes are unsecured, will not be listed on any exchange, and are characterized as bail-inable under the Canada Deposit Insurance Corporation Act, exposing holders to possible conversion into common shares under those statutory powers. Original issue price is $1,000.00 per Note, with an underwriting discount of $10.00 per Note.

Bank of Montreal issues $1,872,000 Senior Medium-Term Notes, Series K — Redeemable Fixed Rate Notes due February 10, 2031. The offering consists of 1,872 notes at a $1,000 principal amount each, with an interest rate of 4.20% per annum payable semi‑annually and payment at maturity of $1,000 per Note plus accrued interest.

The Notes are redeemable at the issuer's option on semi‑annual Optional Redemption Dates at 100% of principal plus accrued interest, are not repayable at holders' option, will not be listed on an exchange, and are unsecured obligations subject to Bank of Montreal credit risk. The Notes are designated as bail‑inable under the Canada Deposit Insurance Corporation Act.

Bank of Montreal launched a preliminary pricing supplement for Senior Medium‑Term Notes, Series K: equity‑linked, auto‑callable securities tied to the lowest performing common stock of Amazon.com, Inc., Robinhood Markets, Inc. and Tesla, Inc. The securities have an original offering price of $1,000 per security, estimated initial value of $955.40 (floor at pricing not less than $920.00), a minimum contingent coupon rate of 23.10% per annum, monthly observation dates and a stated maturity of March 1, 2029. Pricing date is February 26, 2026 and issue date is March 3, 2026. Proceeds to Bank of Montreal equal $976.75 per security after an agent discount of $23.25. The securities pay contingent monthly coupons (with a memory feature), are subject to automatic call if the lowest performing underlier closes at or above its starting value on certain calculation days, expose investors to downside on the lowest performing underlier (50% downside threshold), and are unsecured obligations of Bank of Montreal.

Bank of Montreal priced US$782,000 of Senior Medium‑Term Notes, Series K — Buffer Enhanced Return Notes linked to the iShares® MSCI Emerging Markets ETF (EEM). The notes mature on February 23, 2029 and reference an Initial Level of $60.87 (Strike Date February 17, 2026).

Payment at maturity: if the Final Level ≥ Initial Level, investors receive $1,000 plus 76.75% participation of the Reference Asset’s percentage gain. A 30.00% Buffer protects against declines up to 30.00%; declines beyond that reduce principal 1% per 1% decline, for up to a 70.00% loss. The notes pay no interest, are unsecured obligations of Bank of Montreal, and are subject to the issuer’s credit risk. The issuer’s estimated initial value was $982.70 per $1,000.

Bank of Montreal priced US$1,010,000 of Senior Medium-Term Notes, Series K — Contingent Risk Absolute Return Buffer Notes due May 24, 2027, linked to the S&P 500® Futures Excess Return Index. The notes offer 1:1 upside participation capped at a 13.45% Maximum Return and provide a 15.00% downside buffer measured from an Initial Level of 557.46, subject to a Maximum Downside Redemption Amount of $1,150.00 per $1,000. If the Reference Asset falls more than 15.00%, investors lose 1% of principal for each 1% decline beyond the buffer, up to an 85.00% principal loss. The notes pay no interest, are unsecured obligations of Bank of Montreal, and all payments are subject to the issuer’s credit risk.

Bank of Montreal is issuing US$1,054,000 in Senior Medium-Term Notes, Series K — Contingent Risk Absolute Return Buffer Notes linked to the NASDAQ-100 Index®.

The notes pay no interest, mature on May 24, 2027, and offer 1:1 upside participation capped at a Maximum Redemption Amount of $1,126.20 per $1,000 (a 12.62% capped return). They provide a 15.00% buffer: if the Final Level is between the Initial Level and $21,164.04 (85.00% of the Initial Level), investors can receive a positive return up to a $1,150.00 Maximum Downside Redemption Amount; losses begin for declines exceeding the 15.00% buffer, with potential principal loss up to 85.00%. All payments are subject to the credit risk of Bank of Montreal.

Bank of Montreal priced US$1,069,000 of Senior Medium-Term Notes, Series K: Contingent Risk Absolute Return Buffer Notes due May 24, 2027, linked to the Russell 2000® Index. The notes pay no interest and return at maturity depends on the Index's performance and a 15.00% buffer.

If the Index finishes above its Initial Level, investors receive 1:1 upside subject to a Maximum Redemption Amount of $1,132.00 per $1,000 (a 13.20% cap). If the Index declines but stays at or above the Buffer Level (85.00% of Initial Level), investors receive a positive return up to a Maximum Downside Redemption Amount of $1,150.00 per $1,000 (a 15.00% return). If the Index falls more than 15.00%, investors lose 1% of principal for each 1% decline beyond the buffer, with potential losses up to 85.00% of principal. All payments are subject to the Bank of Montreal's credit risk.

Bank of Montreal priced a preliminary offering of non-interest notes linked to the S&P 500® Index with an expected term of approximately 15–17 months.

Each $1,000 note pays at maturity either (a) up to a capped gain if the final underlier level rises (an upside participation rate of 150% with a $1,127.80–$1,150.00 maximum settlement amount per $1,000), (b) the full principal if the final underlier level is down by no more than 10.00%, or (c) a pro rata loss if the final underlier level falls below 90.00% (losing approximately 1.1111% of principal for each 1% decline below that buffer). The initial estimated value is expected to be $956.10–$986.10 per $1,000 while the original issue price is $1,000.00 (underwriting discount $12.90, proceeds to issuer $987.10).

The notes are unsecured obligations of Bank of Montreal, not listed, not FDIC‑insured, subject to issuer credit risk, tax‑treatment uncertainty, potential postponement for market disruption, and limited secondary‑market liquidity.

Bank of Montreal priced US$8,729,000 of Senior Medium-Term Notes, Series K — Contingent Risk Absolute Return Buffer Notes linked to the S&P 500® Index, maturing on February 23, 2028. The notes provide 1:1 upside participation capped at a $1,167.50 payment per $1,000 principal (a 16.75% maximum return) and offer protection for declines up to a 15.00% Buffer Level (equal to 85.00% of the Initial Level). If the index falls below the Buffer Level, holders lose 1.00% of principal for each 1.00% decline beyond the buffer and may lose up to 85.00% of principal. The pricing date was February 18, 2026, settlement February 23, 2026, and the issuer's estimated initial value per $1,000 was $973.49 on the pricing date.

Bank of Montreal priced US$2,060,000 of Senior Medium-Term Notes, Series K — Callable Barrier Notes with Contingent Coupons due February 23, 2029, linked to the least performing of the S&P 500®, NASDAQ-100® and Russell 2000® indices.

The notes pay semiannual contingent coupons of 4.30% per semiannual period (approximately 8.60% per annum) if each Reference Asset on an Observation Date is at or above its Coupon Barrier Level (each set at 60.00% of the Initial Level). If not called, maturity pay‑out equals $1,000 plus the percentage change of the least performing Reference Asset; a Trigger Event (Final Level below the Trigger Level) can reduce principal and may result in total loss of principal.

Bank of Montreal priced $1,710,000 of Senior Medium-Term Notes, Series K — Callable Barrier Notes with Contingent Coupons linked to the least performing of the S&P 500, NASDAQ-100 and Russell 2000. The notes were priced on February 18, 2026, settle on February 23, 2026, and mature on February 25, 2030. They pay semiannual contingent coupons of 3.90% per semiannual period (approximately 7.80% per annum) only if each reference asset on an Observation Date is at or above its Coupon Barrier (60% of initial levels). If, at maturity, the least performing index is below its Trigger Level (50% of initial), principal is reduced proportionally to that index’s decline. The pricing supplement shows an estimated initial value of $983.86 per $1,000 principal amount.

Bank of Montreal priced US$5,819,000 Senior Medium-Term Notes, Series K: an autocallable barrier note due February 23, 2028 linked to the least performing of XLE, the S&P 500® Index and the Nasdaq-100 Technology Sector Index. Pricing Date was February 18, 2026 and Settlement Date is February 23, 2026. The notes pay increasing quarterly Call Amounts if, on any Observation Date beginning February 24, 2027, each Reference Asset is at or above its Call Level; Call Amounts escalate to a final potential $240.00 per note at maturity, representing approximately 12.00% per annum. If not called, maturity payoff depends on the Least Performing Reference Asset: investors receive par if that asset’s Final Level is at or above its Trigger Level, otherwise a pro rata loss based on the Percentage Change (potentially reducing payment below principal). The document states an estimated initial value of $977.20 per $1,000 principal on the Pricing Date.

Bank of Montreal is offering US$515,000 in Senior Medium-Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons linked to the least performing common stock of First Solar (FSLR), lululemon (LULU) and Axon (AXON). The notes settle on February 23, 2026 and mature on February 23, 2029, with a valuation date of February 20, 2029.

The notes pay contingent quarterly coupons of 5.75% per quarter (approximately 23.00% per annum) when each reference asset closes at or above its coupon barrier (50% of the Initial Level). Automatic redemption begins on February 18, 2027 if each reference asset closes at or above 100% of its Initial Level. The estimated initial value on the pricing date is $942.73 per $1,000 principal amount.

Bank of Montreal is offering US$1,203,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to the least performing of AAPL, META and INTC. The Pricing Date was February 18, 2026, Settlement Date February 23, 2026, Valuation Date February 17, 2028 and Maturity Date February 23, 2028.

The notes pay a contingent monthly coupon of 2.3667% per month (~28.40% per annum) if each Reference Asset on an Observation Date is at or above its Coupon Barrier (60% of the Initial Level). The notes are autocallable beginning May 20, 2026 if all Reference Assets meet their Call Level (100% of Initial Level). At maturity, if any Reference Asset’s Final Level is below its Trigger Level (60% of Initial Level), investors receive $1,000 × (1 + Percentage Change of the Least Performing Reference Asset); otherwise they receive $1,000. The estimated initial value on the Pricing Date was $975.86 per $1,000.

Bank of Montreal priced US$1,191,000 of Senior Medium-Term Notes, Series K — Callable Barrier Notes with Contingent Coupons linked to the least performing of the NASDAQ-100 Index (NDX), VanEck Junior Gold Miners ETF (GDXJ) and SPDR S&P Regional Banking ETF (KRE).

Pricing Date is February 18, 2026, Settlement Date February 23, 2026, Valuation Date January 19, 2028 and Maturity Date January 24, 2028. Contingent coupons pay 1.65% per month (~19.80% per annum) when each Reference Asset is at or above its 70.00% Coupon Barrier on observation dates. Notes are callable beginning August 19, 2026. Estimated initial value on the Pricing Date was $958.80 per $1,000 principal amount.

Bank of Montreal is offering Senior Medium-Term Notes, Series K: market-linked, auto-callable securities linked to the lowest performing common stock of Broadcom (AVGO), Robinhood (HOOD) and McDonald’s (MCD). The original offering price is $1,000 per security; proceeds to Bank of Montreal are $976.75 per security after an agent discount of $23.25. The preliminary pricing date is February 23, 2026, issue date February 26, 2026, and stated maturity date February 28, 2029. The contingent coupon rate will be determined at pricing and will be at least 23.30% per annum. The issuer’s estimated initial value is $952.50 per security (not less than $920.00 at pricing). These notes pay monthly contingent coupons only if the lowest performing Underlier meets its coupon threshold and expose investors to potential loss of principal if the lowest performing Underlier is below its downside threshold (50% of starting value) at maturity.

Bank of Montreal priced non‑interest notes linked to the MSCI EAFE Index® with a trade date of February 18, 2026 and a stated maturity of August 6, 2027 (determination date August 4, 2027, subject to postponement).

Each $1,000 note offers a 160% upside participation in positive index returns up to a maximum settlement amount of $1,199.20. An initial underlier level of 3,141.31 and a buffer of 12.50% (buffer level 2,748.64625) mean investors receive full principal if the final level declines by up to 12.50%; larger declines reduce principal at a rate of ~1.1429% per 1% below the buffer. The notes do not pay interest, are unsecured obligations of Bank of Montreal, have an original issue price of $1,000 and an initial estimated value of $994.50 per $1,000. All payments are subject to the issuer's credit risk and the notes will not be listed on an exchange.

Bank of Montreal priced a structured, principal‑at‑risk note linked to the iShares® Expanded Tech‑Software Sector ETF (IGV) with an original issue size of $14,400,000. The notes pay no interest, mature on May 13, 2027 (subject to postponement), and settle in cash based on IGV performance measured from the trade date (February 18, 2026) to the determination date (May 11, 2027).

Holders receive a fixed threshold settlement amount of $1,193.00 per $1,000 principal if the final underlier level is ≥ 90.00% of the initial level ($82.00). If below that threshold, losses apply at approximately 1.1111% of principal for each 1% decline below the threshold; investors could lose some or all principal. The notes are unsecured obligations of Bank of Montreal and are not FDIC‑insured.

Bank of Montreal is offering indexed, non‑interest notes linked to the S&P 500® Index. The trade date is February 18, 2026, original issue date February 23, 2026, and stated maturity is April 7, 2027 (subject to postponement).

Each note has a $1,000 principal amount. If the final index level on the determination date is ≥ the threshold level (85.00% of the initial level of 6,881.31), holders receive the threshold settlement amount of $1,077.30 per note. If below the threshold, holders lose approximately 1.1765% of principal for each 1.00% decline below the threshold and could lose some or all principal. The initial estimated value is $985.98 per note and aggregate original issue price shown is $5,400,000.00. Payments are unsecured obligations of Bank of Montreal and subject to its credit risk.

Bank of Montreal is issuing $2,000,000 of Senior Medium‑Term Notes, Series K, Redeemable Fixed Rate Notes due February 23, 2029. The Notes pay interest at 4.00% per annum, payable semi‑annually beginning August 23, 2026, and were issued on February 23, 2026.

The Notes have a principal amount of $1,000 per Note, an original issue price of $1,000.00 per Note, and total proceeds to the Bank of $1,994,000.00 after underwriting discounts. The Notes are redeemable by the Bank in whole (but not in part) on semi‑annual Optional Redemption Dates from February 23, 2027 through August 23, 2028 at 100% of principal plus accrued interest. The Notes are bail‑inable and may be converted into common shares under subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act.

Bank of Montreal offers principal-protected contingent outcome notes linked to the S&P 500® Index with a $1,000 principal amount per note. The notes mature after a determination date expected 22–25 months from the trade date and pay either a threshold settlement amount (expected between $1,143.20 and $1,168.40) if the final index level is ≥ 87.50% of the initial level, or a cash amount that declines about 1.1429% of principal for each 1% the final index level is below the threshold. The initial estimated value is expected within the range of $969.00 to $999.00 per $1,000 principal amount. Payments are unsecured obligations of Bank of Montreal and subject to its credit risk. The notes are not exchange-listed and are designed to be held to maturity.

Bank of Montreal is offering non‑interest linked notes with a principal amount of $1,000 per note, trade date February 18, 2026, original issue date February 23, 2026 and stated maturity March 22, 2027 (subject to postponement).

Payments are tied to the iShares Expanded Tech-Software Sector ETF (IGV) measured from an initial underlier level of $82.00 to the determination date. If the final underlier level is ≥ the threshold level of $65.60 (80.00% of $82.00) each note will pay the threshold settlement amount of $1,116.40. If below the threshold, holders lose 1.25% of principal for each 1% the final underlier is below the threshold, potentially losing some or all principal. The issuer’s estimated initial value is $981.31 per $1,000; original issue price is $1,000 with an underwriting discount of $10.80, and total original issue price shown is $16,143,000 with proceeds to the Bank of Montreal of $15,968,655.60. All payments are subject to the credit risk of Bank of Montreal.

Bank of Montreal priced US$1,000,000 Senior Medium-Term Notes, Series K, an autocallable barrier note with memory coupons linked to the Class A subordinate voting shares of Shopify Inc. ("SHOP"). The notes pay contingent quarterly coupons of 4.1625% per quarter (≈16.65% per annum) if the Reference Asset meets a coupon barrier of $56.35 (50.00% of the Initial Level) on Observation Dates and feature an automatic redemption if the Reference Asset is at or above the Call Level (100% of Initial Level) on an Observation Date. If not called, principal at maturity is paid in cash and is subject to downside exposure if the Final Level is below the Trigger Level of $56.35 (50.00% of the Initial Level); examples show potential principal loss proportional to the Reference Asset decline. The estimated initial value on the Pricing Date was $963.36 per $1,000.

Bank of Montreal priced US$1,036,000 Senior Medium‑Term Notes, Series K — Autocallable Barrier Notes linked to Amphenol Corporation (ticker APH). The notes mature on March 22, 2027, were priced on February 17, 2026, and settle on February 20, 2026.

Key economics: public offering price 100%, agent’s commission 2.15%, proceeds to Bank of Montreal $1,013,726. Contingent coupons equal $9.50 per $1,000 monthly (0.95% per month, ~11.40% per annum) if the Reference Asset closes at or above the Coupon Barrier on Observation Dates. The Initial Level is $148.57; Coupon Barrier and Trigger Level are both $86.17 (58.00% of Initial Level). The notes are autocallable if the Reference Asset closes at or above the Call Level (100% of Initial Level) on observation dates beginning August 19, 2026. The estimated initial value on the Pricing Date was $954.27 per $1,000.

Bank of Montreal offers $2,469,000 Senior Medium‑Term Notes, Series K — autocallable barrier notes linked to the least performing of the common stock of Microsoft, Amazon and Alphabet (Class A).

The notes were priced on February 17, 2026 with settlement on February 20, 2026 and mature on February 22, 2028. They pay a monthly Coupon of 0.8333% (approximately 10.00% per annum) and are subject to automatic redemption beginning on August 19, 2026 if each Reference Asset’s closing level on a Call Observation Date is at or above its Call Level. At maturity, if not redeemed, holders receive $1,000 per $1,000 principal unless a Trigger Event occurs; if a Trigger Event occurs the cash payment equals $1,000 + ($1,000 x Percentage Change of the Least Performing Reference Asset). The initial estimated value was $978.50 per $1,000 on the Pricing Date.

Bank of Montreal priced US$2,170,000 in Senior Medium‑Term Notes, Series K — Contingent Risk Absolute Return Buffer Notes due February 26, 2027. The notes are unsecured senior obligations and pay no interest; all payments are subject to the credit risk of Bank of Montreal.

The notes are linked to an equally weighted basket of six equities (MSFT, NOW, CRM, NFLX, ORCL, PANW) with a 200.00% upside leverage factor and a 10.00% downside buffer (Buffer Level 90.00%). Investors participate 200% in positive Basket appreciation, capped at a 20.50% Maximum Return (Maximum Redemption Amount $1,205.00 per $1,000). If the Basket declines but remains ≥ the Buffer Level, investors receive a positive return up to $1,100.00 per $1,000. If the Basket falls below the Buffer Level, investors lose 1% of principal for each 1% decline beyond the Buffer, potentially losing up to 90.00% of principal at maturity.

Bank of Montreal is offering non‑interest‑bearing, principal‑at‑risk notes linked to the iShares® Expanded Tech‑Software Sector ETF (Bloomberg: IGV). Each note has a $1,000 principal amount, an original issue price of $1,000 and an estimated initial value of $946.50 to $976.50 per $1,000. The notes may be automatically called on one of two observation dates (expected ~12–14 and ~24–28 months after trade date) if the underlier meets a call level equal to 87.00% of the initial underlier level; applicable call premiums are in the ranges 9.71%–11.40% (first call) and 19.42%–22.80% (second call). If not called, maturity depends on underlier performance at the determination date (expected ~36–42 months); the maturity premium range is 29.13%–34.20%. If final underlier < buffer level (87.00%), investors lose approximately 1.1494% of principal for every 1% decline below 87.00% and could lose some or all principal. Notes are unsecured obligations of Bank of Montreal, will not be listed, and are subject to the issuer’s credit risk.

Bank of Montreal is offering principal-protected-style equity-linked notes linked to the TOPIX® Index with a $1,000 principal amount per note and an original issue price of $1,000.00. The notes pay no interest and may be automatically called on a call observation date expected within 12–14 months.

If automatically called, holders receive the principal plus a call premium expected between 12.79% and 15.00%. If not called, maturity is expected at approximately 24 months and payoffs depend on index performance: an upside participation rate of 200% above the initial underlier level, a buffer protecting declines down to 90.00%, and a downside exposure of approximately 1.1111% loss of principal for each 1% the index falls below the buffer.

Bank of Montreal priced US$1,733,000 Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to the least performing of Apple Inc., Microsoft Corporation and Amazon.com, Inc. The Pricing Date was February 13, 2026, Settlement Date February 19, 2026, Valuation Date February 14, 2029 and Maturity Date February 20, 2029. The notes pay a 1.0417% monthly Contingent Coupon (approximately 12.50% per annum) when each reference asset closes at or above a Coupon Barrier (75% of initial levels). Trigger Levels are 50% of initial levels; a Trigger Event reduces payment at maturity based on the Percentage Change of the Least Performing Reference Asset. The notes are cash‑settled; estimated initial value was $962.82 per $1,000 principal amount. The public offering price was approximately $1,000 per $1,000 and the agent’s commission shown was 0.25%.

Bank of Montreal priced US$1,500,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Memory Coupons linked to the common stock of Advance Auto Parts, Inc. The notes mature on February 20, 2029 and pay quarterly contingent coupons of 4.94% per quarter (approximately 19.76% per annum) if the reference stock meets coupon barrier tests.

The notes feature automatic redemption beginning on August 17, 2026 if the Reference Asset closes above the Call Level, a Trigger Level and Coupon Barrier equal to $29.11 (50.00% of the Initial Level of $58.22), and an estimated initial value of $960.19 per $1,000 principal amount on the Pricing Date.

Bank of Montreal priced US$3,371,000 Senior Medium-Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons due May 19, 2027, linked to the least performing of the S&P 500, NASDAQ-100 and Russell 2000.

Key terms: a contingent coupon of 0.975% per month (approximately 11.70% per annum) payable monthly if each reference asset meets a 70.00% coupon barrier on observation dates; an automatic redemption feature beginning on August 14, 2026 if all reference assets are at or above their call levels; a trigger at 65.00% of initial levels that can cause principal loss at maturity based on the least performing asset. The estimated initial value on the pricing date was $985.31 per $1,000 principal amount.

Bank of Montreal priced a structured note offering: $1,000 principal notes linked to the S&P 500® Index with a stated maturity of March 17, 2027 (subject to postponement) and a trade date of February 13, 2026.

Aggregate original issue price listed is $6,022,000.00 with proceeds to Bank of Montreal of $5,972,619.60. Each note pays no interest, has an initial estimated value of $984.41 per $1,000 principal, and will pay the threshold settlement amount of $1,087.00 per note only if the final underlier level is at or above 90.00% of the initial level (initial underlier level 6,836.17).

The notes expose holders to market risk tied to the underlier and to Bank of Montreal credit risk; if the final underlier level is below the threshold level, investors will incur losses at maturity based on the defined buffer formula.

Bank of Montreal priced a US$807,000 offering of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Memory Coupons linked to the common stock of Deckers Outdoor Corporation. The notes price at 100% of principal and settle on February 19, 2026, maturing on March 19, 2027.

The notes pay contingent monthly coupons of 0.9375% (approximately 11.25% per annum) if the Reference Asset closes at or above a Coupon Barrier of $67.12 (58.00% of the Initial Level) on each Observation Date. Beginning on August 14, 2026, the notes are subject to automatic redemption if the Reference Asset closes at or above the Call Level (100% of the Initial Level) on an Observation Date. At maturity, if the Final Level is below the Trigger Level ($67.12), investors may receive shares (Physical Delivery Amount) or a cash equivalent based on the Final Level; otherwise they receive principal plus any due Contingent Coupons.

Bank of Montreal priced a US$2,497,000 issuance of Senior Medium-Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons linked to the ordinary shares of LyondellBasell Industries N.V. The notes price was 100% of principal and settle on February 19, 2026, with a February 20, 2029 maturity and a valuation date of February 14, 2029.

The notes pay a contingent coupon of 3.10% per quarter (approximately 12.40% per annum) when the Reference Asset closes at or above a Coupon Barrier of $28.81 (50.00% of the Initial Level). They are autocallable if the Reference Asset closes at or above the Call Level (100.00% of the Initial Level) on Observation Dates starting August 17, 2026. At maturity, if the Final Level is below the Trigger Level of $28.81, holders receive a declining cash payment tied to the Percentage Change, which can result in significant loss of principal.

Bank of Montreal priced US$4,833,000 of Senior Medium-Term Notes, Series K — Callable Barrier Notes with Contingent Coupons due February 20, 2029.

The notes pay contingent semiannual coupons of 4.20% per semiannual period (approximately 8.40% per annum) if each reference index is at or above its Coupon Barrier Level on the Observation Date, and are callable by the issuer beginning on August 17, 2026 subject to the Issuer Call feature. At maturity, if any Reference Asset closes below its Trigger Level on the Valuation Date (February 14, 2029), holders receive $1,000 × the Percentage Change of the Least Performing Reference Asset plus $1,000, which may be less than principal or zero.

Bank of Montreal priced US$3,931,000 Senior Medium-Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons linked to the common stock of NRG Energy, Inc. The notes were priced on February 13, 2026, settle on February 19, 2026, and mature on February 20, 2029.

The notes pay a contingent quarterly coupon of 3.5875% (approximately 14.35% per annum) when the Reference Asset closes at or above the Coupon Barrier of $120.65 (70.00% of the Initial Level of $172.35). Beginning on February 17, 2027, the notes are subject to automatic redemption if the Reference Asset closes at or above the Call Level (100% of the Initial Level). At maturity investors receive $1,000 per $1,000 principal unless a Trigger Event occurs (Final Level below the Trigger Level of $120.65), in which case the cash payoff equals $1,000 plus $1,000 times the Percentage Change and may be less than principal.

The estimated initial value on the pricing date was $953.47 per $1,000 principal. The notes pay only in cash, are unsecured obligations of the Bank, and involve structural, reference-asset and tax risks described in the accompanying supplements.