MicroSectors™ Energy 3X Leveraged ETN SEC Filings

Bank of Montreal – MicroSectors Energy 3x Leveraged ETNs (WTIU) filed a 424B2 prospectus supplement covering a $1.402 million issuance of Capped Enhanced Return Notes due June 24, 2026. The unsecured notes are linked to an equally weighted basket of Stryker (SYK) and Thermo Fisher (TMO).

The structure provides 300% leveraged upside on any basket appreciation, but payouts are limited to a 20.25% cap ($1,202.50 per $1,000 note). If the basket declines, investors lose principal on a 1-for-1 basis and could incur a total loss. The notes bear no interest, are not exchange-listed, and are subject to Bank of Montreal’s credit risk. Agent BMOCM receives a 1.25% selling concession; the estimated initial value is $969.42 per $1,000 note.

Bank of Montreal has issued $1,565,000 in Barrier Notes due June 23, 2026, linked to the performance of three major indices: Nasdaq-100 Technology Sector Index, Russell 2000 Index, and S&P 500 Index. The notes offer monthly interest payments of 0.7625% (approximately 9.15% annually).

Key features include:

• Notes will pay monthly coupons of $7.625 per $1,000 principal amount
• Principal is at risk if any Reference Asset falls below 70% of its Initial Level (Trigger Event)
• If a Trigger Event occurs, investors lose 1% for each 1% decline in the worst-performing index
• Maximum return is limited to coupon payments regardless of index appreciation

Initial index levels are: NDXT: 11,161.22, RTY: 2,101.960, SPX: 5,982.72. The estimated initial value is $972.13 per $1,000 principal amount. Notes are subject to Bank of Montreal's credit risk and will not be listed on any securities exchange.

Bank of Montreal has issued $2,216,000 in Autocallable Barrier Notes linked to Uber Technologies stock, due July 23, 2026. Key features include:

• Monthly contingent coupons of 1.0975% (13.17% annually) if Uber's stock closes above the barrier level of $56.79
• Automatic early redemption starting December 2025 if Uber's stock closes above the initial level of $84.76
• Principal at risk - If notes are not called and Uber's stock falls below trigger level ($56.79), investors receive shares or cash worth less than principal
• Notes priced at 100% with 2.15% agent commission

These structured notes offer high yield potential but expose investors to significant downside risk if Uber stock declines more than 33% from initial level. The estimated initial value is $966.31 per $1,000 principal, reflecting embedded costs and fees. Notes are subject to Bank of Montreal's credit risk and will not be listed on any exchange.

Bank of Montreal has issued $6.15M in Autocallable Barrier Notes linked to Lam Research Corporation (LRCX) stock, due July 23, 2026. The notes offer monthly contingent coupons of 1.23% (14.76% annually) if LRCX's closing price meets or exceeds the Coupon Barrier Level of $63.01 (68% of initial level).

Key features include:

• Starting December 2025, notes automatically redeem if LRCX closes above initial level ($92.66)
• No principal protection - investors lose 1% for each 1% decline in LRCX below Trigger Level
• Trigger Level set at $63.01 (68% of initial level)
• Notes priced at 100% with 2.15% agent commission
• Estimated initial value of $965.91 per $1,000 principal

These structured notes carry significant risks including potential loss of principal, non-guaranteed coupon payments, and credit risk of Bank of Montreal. They are not listed on any exchange and not FDIC insured.

Bank of Montreal has issued $2,535,000 in Digital Return Barrier Notes due July 23, 2026, linked to the performance of the S&P 500 and Russell 2000 indices. The notes offer a 10.05% digital return if the least performing index remains at or above 80% of its initial level at maturity.

Key features include:

• Initial levels: S&P 500 at 5,982.72 and Russell 2000 at 2,101.960
• Digital barrier level: 80% of initial levels
• Principal at risk: Investors lose 1% for each 1% decline below barrier level
• Pricing date: June 17, 2025
• Maturity date: July 23, 2026

The notes carry significant risks including potential loss of principal, limited upside capped at 10.05%, exposure to the worst-performing index only, and credit risk of Bank of Montreal. The estimated initial value is $964.55 per $1,000 principal amount.

Bank of Montreal has issued $3 million in Market Linked Notes due September 13, 2030, linked to the Dow Jones Industrial Average. The notes offer structured returns based on the index's performance with the following key features:

• Maximum return capped at 78.08% ($1,780.80 per $1,000 principal)
• Three-tiered participation rate structure: - 167% participation above 102% of Initial Level - 21% participation between 96-102% of Initial Level - 200% downside exposure between 92-96% of Initial Level
• Full 1:1 loss exposure below 92% of Initial Level, with potential for 100% principal loss

The Initial Level will be determined by averaging index closing levels from June 13 to July 15, 2025. The notes are subject to Bank of Montreal's credit risk and do not pay interest. The estimated initial value is $969.38 per $1,000 principal amount.

Bank of Montreal has issued $275,000 of Capped Buffer Notes due June 24, 2030, linked to the S&P 500® Index. The notes offer 1-to-1 positive return on S&P 500 appreciation, capped at a maximum return of 116% ($2,160 per $1,000 principal).

Key features include:

• 30% downside buffer protection - investors only lose principal if index falls more than 30%
• Maximum loss potential of 70% of principal
• Initial S&P 500 level: 5,982.72
• Buffer level: 4,187.90 (70% of initial)
• Notes priced at 100% ($1,000 per note) with 0.50% agent commission

Notable risks include credit risk of Bank of Montreal, capped upside potential regardless of index performance beyond 116%, and potential loss of up to 70% of principal in worst-case scenarios. Notes will not be listed on any exchange and do not pay interest.

Bank of Montreal has filed a prospectus supplement for Capped Buffered S&P 500 Index-Linked Notes with unique risk-return characteristics. Key features include:

• Principal Amount: $1,000 per note
• Term: Expected 23-26 months
• Maximum Return: Capped at 26.86%-31.51% ($1,268.60-$1,315.10 per note)
• Downside Protection: 20% buffer zone with 1:1 loss ratio up to 5% loss
• Below Buffer Performance: 1.1875% loss for every 1% decline below 80% of initial level

The notes' estimated initial value ($951.70-$981.70) will be less than the issue price. These unsecured obligations carry Bank of Montreal's credit risk and are not FDIC insured. The notes are designed for investors seeking enhanced S&P 500 index returns with partial downside protection, though potential losses can be significant if the index declines substantially.