MicroSectors™ Energy 3X Leveraged ETN SEC Filings

The prospectus supplement describes notes linked to the Invesco Nasdaq-1004 ETF that can pay a fixed Digital Return of 16.19% at maturity if the ETF's Final Level is at least 90.00% of its Pricing Date level. If the Final Level falls more than 10.00% below the Initial Level, investors lose 1% of principal for each 1% decline beyond the 10.00% buffer, meaning losses could be as large as 90.00% of principal. The notes do not pay interest, are payable only in cash, and are subject to the credit risk of Bank of Montreal. The notes are issued in minimum denominations of $1,000, will not be exchange-listed, and BMOCM is acting as agent for distribution.

The document highlights other material features and risks: returns are capped at the Digital Return regardless of any greater appreciation in the Reference Asset; dividends on the ETF are not passed through; index sponsor, ETF issuer and advisor actions can affect payoff; tax treatment is uncertain; secondary market liquidity is limited and BMOCM need not make a market.

Bank of Montreal has issued $228,000 in Digital Return Barrier Notes due June 30, 2027, linked to the performance of the NASDAQ-100 and Russell 2000 indices. The notes offer a potential 25.20% digital return if the least performing index meets or exceeds its initial level at maturity.

Key features include:

• Principal at risk: Investors lose 1% for each 1% decline beyond 30% in the worst-performing index
• Initial levels: NDX at 22,237.74 and RTY at 2,136.185
• Barrier level: 70% of initial levels
• No interest payments or exchange listing
• Minimum denomination: $1,000

The notes' estimated initial value is $957.90 per $1,000 principal amount. BMO Capital Markets serves as calculation agent and selling agent, with a 2.75% commission. The investment carries significant risks including potential loss of principal and limited upside capped at the digital return.

Bank of Montreal has issued $541,000 in Autocallable Barrier Enhanced Return Notes due June 30, 2028, linked to the performance of NASDAQ-100, Russell 2000, and S&P 500 indices. The notes offer 150% leveraged upside exposure to the least performing index.

Key features include:

• Automatic redemption on June 30, 2026, if all indices exceed their call levels, paying principal plus 17% per annum return
• If not auto-redeemed and the least performing index drops over 30% from initial level, investors lose 1% of principal for each 1% decline
• Initial value estimated at $958.77 per $1,000 principal
• Notes priced at 100% with 2.66% agent commission

The notes carry significant risks including potential loss of principal, dependence on worst-performing index, and automatic redemption limiting upside potential. They do not pay interest and are subject to Bank of Montreal's credit risk.

Bank of Montreal has issued $1,211,000 in Callable Barrier Notes due June 30, 2026, linked to the performance of the S&P 500, NASDAQ-100, and Russell 2000 indices. The notes offer 0.75% monthly interest payments (9.00% per annum) and include an Issuer Call feature starting December 26, 2025.

Key features include:

• Monthly coupon payments of $7.50 per $1,000 principal amount
• 70% trigger level for each underlying index
• No principal protection - investors can lose principal if any index falls below its trigger level
• Initial estimated value of $987.05 per $1,000 principal amount
• Notes priced at 100% with 0.25% agent commission

The payment at maturity, if not called earlier, depends on whether a Trigger Event occurs. If any index closes below its 70% trigger level on the valuation date, investors will lose 1% for each 1% decline in the worst-performing index. The notes are subject to Bank of Montreal's credit risk and will not be listed on any securities exchange.

Bank of Montreal has issued $1,761,000 in Autocallable Barrier Notes due September 30, 2026, linked to the performance of the S&P 500 Index and Russell 2000 Index. Key features include:

• Monthly contingent coupon payments of 0.6667% (8.00% per annum) if both indices close above their Coupon Barrier Levels (80% of Initial Levels)
• Automatic early redemption starting December 2025 if both indices close above their Initial Levels
• Risk of principal loss if either index falls below its Trigger Level (80% of Initial Level) at maturity
• Initial Levels: S&P 500 at 6,092.16 and Russell 2000 at 2,136.185

The notes are priced at 100% with an estimated initial value of $966.60 per $1,000 principal amount. BMO Capital Markets serves as calculation agent and selling agent, earning approximately 2.2178% commission. These unsecured notes carry Bank of Montreal's credit risk and are not FDIC insured.

Bank of Montreal has issued $4.55M in Callable Barrier Notes due June 2028, linked to the performance of S&P 500, NASDAQ-100, and Russell 2000 indices. Key features include:

• Monthly contingent coupon payments of 0.6667% (8% annually) if all indices close above their 70% barrier levels
• Issuer callable starting December 2025 with full principal return plus any contingent coupon
• If not called and no trigger event occurs, returns full principal at maturity
• Risk of principal loss if any index falls below 70% of initial level at maturity
• Initial index levels: SPX: 6,092.16, NDX: 22,237.74, RTY: 2,136.185

Notes priced at 100% with estimated initial value of $955.61 per $1,000. BMO Capital Markets serves as calculation agent and selling agent, earning 2.8077% commission. Notes are subject to Bank of Montreal's credit risk and will not be listed on any exchange.

Bank of Montreal has issued $4.885 million in Market Linked Notes due December 31, 2026, tied to the S&P 500® Index. The notes offer 1-to-1 positive return based on index appreciation, capped at a maximum return of 8.00% ($1,080 per $1,000 principal).

Key features include:

• Principal protection if index declines below initial level of 6,092.16
• No periodic interest payments
• 100% upside participation rate up to cap
• Initial estimated value of $979.33 per $1,000 principal
• Agent's commission approximately 1.3537% ($66,126.25 total)

Notable risks include credit risk of Bank of Montreal, limited upside potential due to return cap, no direct index investment benefits like dividends, and limited secondary market liquidity through BMO Capital Markets. The notes are unsecured obligations not covered by FDIC or CDIC insurance.