MicroSectors™ Energy 3X Leveraged ETN SEC Filings

Bank of Montreal has issued $71,000 of Contingent Risk Absolute Return Barrier Notes due July 1, 2030, linked to the performance of the S&P 500, NASDAQ-100, and Dow Jones Industrial Average indices. The notes offer 125% leveraged upside exposure to the least performing index.

Key features include:

• If no Barrier Event occurs (30% decline threshold) and the least performing index declines, investors receive positive returns up to 30%
• Maximum downside redemption amount of $1,300 per $1,000 principal
• If a Barrier Event occurs, investors lose 1% for each 1% decline in the least performing index
• Initial offering price of 100% with 3.325% agent commission
• Estimated initial value of $932.94 per $1,000 principal

The notes carry significant risks including potential loss of principal, limited participation in negative performance, and exposure only to the worst-performing index. They do not pay interest and are subject to Bank of Montreal's credit risk.

Bank of Montreal is offering $967,000 in Buffer Enhanced Return Notes due June 30, 2028, linked to the S&P 500 Index. The notes feature 300% leveraged upside exposure to index gains, capped at a maximum return of 26% ($1,260 per $1,000 principal).

Key features include:

• 10% downside buffer - investors are protected against first 10% of index losses
• 1:1 loss exposure beyond 10% buffer, with potential 90% maximum loss
• Initial index level: 6,092.16
• Buffer level: 5,482.94 (90% of initial)
• No periodic interest payments

The notes carry significant risks including potential loss of principal, limited upside due to the cap, credit risk of Bank of Montreal, and no direct index ownership benefits. The initial estimated value of $956.40 per $1,000 is below the public offering price, reflecting structuring and hedging costs.

Bank of Montreal has issued $728,000 in Digital Return Barrier Notes due July 31, 2026, linked to the performance of the S&P 500 and Russell 2000 indices. The notes offer a 10.20% digital return if the least performing index is at or above 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: S&P 500 at 6,092.16 and Russell 2000 at 2,136.185
• Barrier level: 70% of initial levels
• No interest payments or exchange listing

The estimated initial value is $962.44 per $1,000 principal amount. The offering includes selling concessions up to 1.93%. Key risks include potential complete loss of principal, limited upside potential, and exposure to small-cap stock volatility through the Russell 2000 index.