MicroSectors™ Energy 3X Leveraged ETN SEC Filings

Bank of Montreal has filed a pricing supplement for Autocallable Barrier Notes linked to the iShares Russell 2000 ETF (IWM), due July 3, 2028. The notes offer quarterly contingent coupons of 1.8125% (approximately 7.25% annually) if IWM closes at or above the Coupon Barrier Level (80% of Initial Level).

Key features include:

• Automatic early redemption if IWM closes above its Initial Level on quarterly observation dates starting September 2025
• No guaranteed principal protection - investors risk losing 1% of principal for each 1% decline in IWM below Trigger Level (80% of Initial Level)
• Notes will be issued in $1,000 denominations with maximum agent commission of 2%
• Estimated initial value of $972.60 per $1,000 principal amount

These structured notes carry significant risks including potential loss of principal, limited upside participation in IWM's appreciation, and credit risk of Bank of Montreal. The notes will not be listed on any securities exchange.

Bank of Montreal has filed a Free Writing Prospectus for Autocallable Barrier Notes due July 16, 2029, linked to the performance of three major indices: NASDAQ-100, Russell 2000, and Dow Jones Industrial Average.

Key features of the notes include:

• Potential for automatic redemption starting July 17, 2026, if all reference assets close at or above their initial levels
• Call amounts representing approximately 11.50% return per annum
• No guaranteed principal protection - investors could lose their entire investment
• Trigger Event occurs if any index falls below 70% of initial level at maturity
• Notes will be issued in $1,000 denominations with estimated initial value of $962.70

Important risks include potential loss of principal, no interest payments, and credit risk of Bank of Montreal. The notes will not be listed on any securities exchange and are subject to automatic redemption features that could limit potential returns.

Bank of Montreal has issued $77,000 in Digital Return Barrier Notes due July 1, 2030, linked to the performance of three major indices: NASDAQ-100, Russell 2000, and Dow Jones Industrial Average. The notes offer investors a 53% Digital Return if the least performing index meets certain conditions at maturity.

Key features include:

• Notes will pay based on the worst-performing of the three indices
• Principal is at risk if worst-performing index declines more than 30% from initial level
• Investors can lose up to 100% of principal
• Initial value estimated at $934.25 per $1,000 principal amount
• Notes priced at 100% with 3.8782% agent commission

The investment involves significant risks including potential loss of principal, no interest payments, and dependence on Bank of Montreal's credit risk. The notes will not be listed on any securities exchange and are being offered at minimum denominations of $1,000.

Bank of Montreal has issued $1,142,000 in Digital Return Barrier Notes due September 30, 2026, linked to the performance of the S&P 500, Russell 2000, and Dow Jones Industrial Average indices. The notes offer a 7.80% Digital Return if the least performing index maintains at least 65% of its initial value.

Key features include:

• Investors risk losing 1% of principal for every 1% decline below 65% barrier level
• Initial index levels: S&P 500 (6,092.16), Russell 2000 (2,136.185), DJIA (42,982.43)
• Notes priced at 100% with 2% agent commission
• Estimated initial value of $968.18 per $1,000 principal

Notable risks include potential complete loss of principal, returns limited to 7.80% Digital Return regardless of index performance, and exposure to the worst-performing index only. The notes do not pay interest and lack direct index investment benefits like dividends or voting rights.

Bank of Montreal has issued $2,000 of Barrier Enhanced Return Notes due June 30, 2027, linked to the performance of the S&P 500 and Russell 2000 indices. The notes offer 107.50% leveraged positive return based on the least performing index.

Key features include:

• Principal at risk: Investors lose 1% for each 1% decline if least performing index falls below 70% barrier level
• Initial levels: S&P 500 at 6,092.16 and Russell 2000 at 2,136.185
• Barrier levels: S&P 500 at 4,264.51 and Russell 2000 at 1,495.330
• No interest payments or exchange listing

The notes' estimated initial value is $959.10 per $1,000 principal amount. BMO Capital Markets acts as calculation agent and selling agent, with a 2.50% commission. The offering highlights risks including potential total loss of principal, exposure to worst-performing index only, and credit risk of Bank of Montreal.

Bank of Montreal is offering $333,000 in Capped Buffer Enhanced Return Notes due June 30, 2027, linked to the S&P 500 Index. The notes feature:

• 150% leveraged upside participation in S&P 500 gains, capped at a maximum return of 14.50% ($1,145 per $1,000 principal)
• 20% downside buffer protection - no losses on first 20% index decline
• 1:1 losses beyond buffer - investors can lose up to 80% of principal if index falls more than 20%
• Initial index level: 6,092.16
• Buffer level: 4,873.73 (80% of initial)

Key risks include credit risk of Bank of Montreal, capped upside potential, and potential for significant losses beyond buffer. Notes priced at $1,000 per unit with estimated initial value of $965.16. BMO Capital Markets acts as calculation agent and selling agent with 2.59% commission.

Bank of Montreal has issued $702,000 in Buffer Enhanced Return Notes due June 28, 2030, linked to the S&P 500® Futures Excess Return Index (SPXFP). The notes offer 160% leveraged exposure to positive index returns with conditional downside protection.

Key features include:

• 20% downside buffer - investors only lose principal if index declines more than 20%
• Maximum potential loss of 80% of principal
• Initial index level: 505.71
• Buffer level: 404.57 (80% of initial)
• Notes priced at $1,000 per unit with estimated initial value of $944.69

Important risks: Notes track futures contracts rather than direct S&P 500 index performance, exposing investors to negative roll yields and implicit financing costs. No interest payments or dividends. Credit risk of Bank of Montreal applies. Notes will not be listed on any exchange.

Bank of Montreal has issued $1,096,000 in Autocallable Barrier Enhanced Return Notes due June 30, 2028, linked to the S&P 500 Index. The notes offer a potential 8.30% annual return if automatically redeemed on June 30, 2026, triggered when the S&P 500 exceeds its initial level of 6,092.16.

Key features include:

• 1-to-1 upside participation if not automatically redeemed
• No interest payments
• 70% downside protection barrier at 4,264.51
• 1% principal loss for each 1% decline below barrier level
• Initial value estimated at $958.92 per $1,000 principal

Risk factors: Investors may lose entire principal; subject to Bank of Montreal's credit risk; limited upside potential due to automatic redemption feature; no direct investment in S&P 500 Index; no shareholder rights or dividend payments.

Bank of Montreal has issued $983,000 in Contingent Risk Absolute Return Buffer Notes due June 30, 2027, linked to the Russell 2000® Index. The notes offer 150% leveraged upside exposure to the index's performance, capped at a maximum return of 24% ($1,240 per $1,000 principal).

Key features include:

• Buffer protection against first 10% of index losses
• Positive return potential even in moderately declining markets up to 10% ($1,100 per $1,000 principal)
• Risk of losing up to 90% of principal if index declines more than 10%
• Initial index level: 2,136.185
• Buffer level: 1,922.567 (90% of initial)

Notable risks include limited upside potential due to return cap, credit risk of Bank of Montreal, and enhanced exposure to small-cap stock volatility through the Russell 2000 Index. The notes were priced at 100% with a 2.50% agent commission, resulting in proceeds of $958,425 to the bank.