BANK OF MONTREAL /CAN/ SEC Filings

Bank of Montreal has issued $3.8 million in Digital Return Buffer Notes due July 23, 2026, linked to the S&P 500® Index. The notes offer investors a potential 11% digital return if the index's final level is greater than or equal to its initial level of 6,092.18.

Key features include:

• 10% downside buffer protection - investors only start losing principal if index declines more than 10%
• Maximum loss potential of 90% of principal
• Notes priced at $1,000 per denomination with initial estimated value of $991.16
• No interest payments or listing on securities exchange

Risk factors include credit risk of Bank of Montreal, limited upside potential capped at 11% return regardless of index performance, and potential loss of principal if index declines more than 10%. The notes are not equivalent to direct investment in the S&P 500 and do not provide voting rights or dividends from underlying securities.

Bank of Montreal has issued $121,000 of Autocallable Barrier Notes linked to Tesla (TSLA) stock, due June 30, 2028. The notes offer quarterly contingent coupons of 4.00% (16.00% per annum) if Tesla's stock closes above the Coupon Barrier Level of $163.78 (50% of initial level) on observation dates.

Key features include:

• Initial Tesla stock price: $327.55
• Automatic early redemption starting December 2025 if stock price exceeds initial level
• No principal protection - investors lose 1% for each 1% decline in Tesla stock if it falls below Trigger Level
• Notes priced at 100% with 4% agent commission
• Estimated initial value: $945.52 per $1,000 principal

These structured notes carry significant risks including potential loss of principal, no guaranteed coupon payments, and credit risk of Bank of Montreal. They are not listed on any exchange and not equivalent to direct Tesla stock investment.

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.