BANK OF MONTREAL /CAN/ SEC Filings

Bank of Montreal is issuing US$354,000 of senior medium-term Autocallable Barrier Notes due January 11, 2027, linked to the common stock of PepsiCo, Inc. These unsecured notes pay a contingent coupon of 0.8225% per month (approximately 9.87% per annum), or $8.225 per $1,000 principal amount, only if on each Observation Date PepsiCos share price is at or above the coupon barrier of $110.22, which is 76.00% of the Initial Level of $145.02.

Beginning June 08, 2026, the notes will be automatically redeemed if PepsiCos share price is above the Call Level, set at 100% of the Initial Level, returning principal plus the applicable contingent coupon. If the notes are not called and PepsiCos Final Level on the Valuation Date is below the Trigger Level of $110.22, investors receive shares (or cash) worth less than the $1,000 principal, and could lose their entire investment.

The price to the public is 100% of principal, with a 0.65% agents commission and 99.35% of principal, or $351,699.00, in proceeds to Bank of Montreal. The estimated initial value is $989.32 per $1,000 principal amount, reflecting structuring and hedging costs, and the document highlights both market risks and uncertainty around U.S. federal tax treatment.

Bank of Montreal is offering US$3,818,000 of Senior Medium-Term Notes, Series K, autocallable barrier notes with memory coupons due December 11, 2028. The notes are linked to the least performing of Alphabet Class C (GOOG), Microsoft (MSFT) and Tesla (TSLA). They pay a contingent coupon of 1.5833% per month (approximately 19.00% per year), but only when the closing level of each stock on an observation date is at or above 60% of its initial level; missed coupons can be paid later if conditions are met.

Beginning December 8, 2026 the notes are subject to automatic redemption if all three stocks are at or above their initial levels, returning principal plus any due coupons. If the notes are not called, principal is repaid at maturity only if no stock has fallen below its 60% trigger level; otherwise investors lose principal in line with the decline of the weakest stock, and could lose the entire amount. The estimated initial value is $959.86 per $1,000 note, below the 100% price to the public, and the notes are unsecured, uninsured obligations of Bank of Montreal.

Bank of Montreal is offering unsecured equity-linked notes tied to the MSCI EAFE Index®. The notes have a term expected between 23 and 26 months and pay no interest. At maturity, investors receive $1,000 per note plus a positive return if the index has risen, with a 160% upside participation rate, but returns are capped by a maximum settlement amount expected between $1,219.52 and $1,258.08 per $1,000.

If the index falls by up to 15% from its initial level, investors receive their $1,000 principal back. If it falls more than 15%, principal is reduced by about 1.1765% for every additional 1% decline below 85% of the initial level, so some or all principal can be lost. The notes will not be listed on an exchange, their estimated initial value is expected between $969.00 and $999.00 per $1,000, and all payments depend on Bank of Montreal’s credit. The U.S. tax treatment is uncertain and subject to change.

Bank of Montreal submitted a Form 6-K as a foreign private issuer, furnishing its BMO 2025 Annual Report to Shareholders as Exhibit 99.1. The report is signed on behalf of the bank by the Chief Financial Officer, Tayfun Tuzun, and Corporate Secretary, Pascale Elharrar, confirming it as an official communication to investors.

Bank of Montreal provides detailed disclosures on risk management, pensions, taxes and funding. Global minimum tax rules became effective this fiscal year and increased the effective tax rate by approximately 55 basis points for the year ended October 31, 2025. The bank is required to maintain reserves and minimum balances with central banks and counterparties totalling $108 million as at October 31, 2025, up from $80 million a year earlier. It reports $6,690 million of NHA mortgage-backed securities included in loans, compared with $5,492 million in 2024, and interest income on FVOCI and amortized cost securities of $7,136 million versus $7,826 million.

Other commitments include $1,664 million of underwriting commitments extended but not yet accepted, down from $4,511 million. Assets pledged to support Federal Home Loan Bank activity total $16,734 million, down from $21,235 million. The bank completed a buyout of its UK pension plan in the fourth quarter of 2024, transferring defined benefit obligations and an equal amount of assets to a third-party insurer with no pre-tax impact and reducing related deferred tax balances to nil. Extensive derivative and hedge accounting details explain how fair value and cash flow hedges, collateral usage and accumulated other comprehensive income and tax balances are managed.

Bank of Montreal has filed a report to make a press release about its common share dividend increase part of its U.S. registration statements by incorporation by reference. The press release states that BMO Financial Group is increasing its common share dividend by 4 cents from the prior quarter, which is up 5 per cent from the prior year.

Bank of Montreal filed a Form 6-K as a foreign private issuer to provide U.S. investors with access to its latest disclosure. The filing primarily serves as a cover document to incorporate information by reference into the bank’s existing SEC registration statements. It identifies a press release titled “Fourth Quarter 2025 Earnings Release” as Exhibit 99.1, indicating that detailed quarterly results are provided in that separate document. The report is signed on behalf of Bank of Montreal by its Chief Financial Officer, Tayfun Tuzun, and Corporate Secretary, Pascale Elharrar.