MicroSectors™ Energy 3X Leveraged ETN SEC Filings

Bank of Montreal has filed a Free Writing Prospectus for Buffer Enhanced Return Notes due January 11, 2027, linked to a basket of three equity indices and ETFs. The notes offer:

• 1-to-1 positive return based on an equally weighted basket consisting of EAFE iShares MSCI ETF, Russell 2000 Index, and iShares MSCI Emerging Markets ETF
• Maximum return capped at 19.20% ($1,192.00 per $1,000 principal)
• Principal protection against first 20% of basket decline
• 1% loss in principal for each 1% decline beyond 20% buffer, with maximum loss of 80%

Key features include $1,000 minimum denomination, no interest payments, and no listing on securities exchange. Notes will be priced July 3, 2025, settle July 9, 2025, and mature January 11, 2027. Initial estimated value is $987.20 per $1,000 principal. BMO Capital Markets serves as calculation agent and selling agent.

Bank of Montreal has filed a pricing supplement for Market Linked Notes due July 03, 2030, linked to the S&P 500® Index. The notes offer 1-to-1 positive return based on index appreciation, subject to a Maximum Redemption Amount of $1,495.00 per $1,000 principal (49.50% return cap).

Key features include:

• Principal protection if the index declines
• 100% upside participation rate up to the cap
• No interest payments
• Minimum denomination of $1,000
• Initial estimated value of $978.20 per $1,000 principal

Notable risks include credit risk of Bank of Montreal, limited upside potential due to the return cap, and no direct investment in the S&P 500 or its components. The notes will be sold through BMO Capital Markets with a 1.125% agent's commission. Settlement date is July 03, 2025, with maturity on July 03, 2030.

Bank of Montreal has issued $520,000 in Senior Medium-Term Notes linked to the S&P 500® Index, due June 28, 2027. The notes offer investors 1-to-1 positive return based on S&P 500 appreciation, with a Maximum Redemption Amount of $1,132.50 per $1,000 principal (13.25% cap on returns).

Key features include:

• Principal protection if the index declines
• No interest payments
• 100% upside participation rate up to the cap
• Initial S&P 500 level: 6,025.17
• Minimum denomination: $1,000

Notable risks include credit risk of Bank of Montreal, limited upside potential due to return cap, no dividend participation, and potential illiquidity as notes won't be exchange-listed. The initial estimated value of $983.70 per $1,000 principal is below the offering price, reflecting embedded costs and fees.

Bank of Montreal is offering Auto-Callable Securities linked to NVIDIA Corporation stock, due July 7, 2028. Key features include:

• Face value of $1,000 per security with estimated initial value of $961.20
• Automatic Call Feature: Securities will be called if NVIDIA stock closes at or above starting value on July 8, 2026, paying face amount plus minimum 20.60% call premium
• Maturity Payment Structure: If not called: - Above starting value: 150% participation in NVIDIA stock gains - Within 35% decline: Return of face amount - Beyond 35% decline: Full exposure to stock losses
• Key Risks: No interest payments, potential for significant principal loss, credit risk of Bank of Montreal, no exchange listing

Securities offer leveraged upside potential but with significant downside risk and are designed for investors seeking enhanced returns tied to NVIDIA stock performance while accepting potential principal loss. Original offering price is $1,000 with $25.75 agent discount.

Bank of Montreal (BMO) is offering US$600,000 of Senior Medium-Term Notes, Series K – “Buffer Notes” – that mature on December 26, 2025 and are linked to the common stock of Tesla, Inc. (TSLA). The notes pay a fixed coupon of 9.70 % per semi-annual period (approximately 19.40 % per annum), with the single coupon scheduled to be paid at maturity. In exchange for this elevated yield, investors forgo any upside participation in TSLA and are exposed to significant downside risk.

Principal repayment is conditional. If, on the Valuation Date (December 22 2025), TSLA’s closing price is below the 20 % Buffer Level (80 % of the Initial Level of $278.94), a “Trigger Event” occurs. In that case, investors will receive either a Physical Delivery Amount of TSLA shares or, at BMO’s election, a Cash Delivery Amount. The payout is levered to downside at 1.25 % per 1 % decline beyond the buffer; a maximum loss of 80 % of principal is possible. If TSLA remains at or above the Buffer Level, investors receive full principal plus the coupon.

Key structural details

• Initial Level: $278.94 TSLA close on June 23 2025
• Buffer Level: $278.94 × 80 % = $222. (rounded)
• Downside Leverage Factor: 125 %
• Denomination: $1,000; CUSIP 06369N3P4
• Issue / Settlement: June 26 2025; Maturity: December 26 2025 (≈6-month tenor)
• Price to public: 100 %; Agent’s commission: 0.75 %
• Estimated initial value: $985.50 per $1,000 (1.45 % issuance premium)
• Not exchange-listed; secondary liquidity solely through dealer market-making
• All payments subject to Bank of Montreal credit risk

Risk profile. The supplement lists numerous risks, notably: potential loss of up to 80 % of principal, lack of upside, single-stock volatility, illiquidity, uncertain tax treatment and conflicts arising from BMO’s hedging and calculation-agent roles.

Bank of Montreal has issued $6.94 million in Contingent Risk Absolute Return Buffer Notes due June 26, 2029, linked to the performance of the S&P 500® and NASDAQ-100 indices. The notes offer 101% leveraged upside exposure to the least performing index.

Key features include:

• 25% downside buffer protection - investors receive positive returns if the least performing index declines up to 25%
• Maximum downside redemption amount of $1,250 per $1,000 principal
• Potential loss of up to 75% of principal if least performing index declines more than 25%
• Initial levels: S&P 500 at 6,025.17 and NASDAQ-100 at 21,856.33

The notes were priced at 100% with a 0.75% agent commission. Initial estimated value is $983.77 per $1,000 principal. The securities are unsecured obligations of Bank of Montreal and not FDIC insured. Primary risks include potential principal loss, limited upside participation, and exposure to the worst-performing index only.

Bank of Montreal has issued $1,005,000 in Contingent Risk Absolute Return Buffer Notes due June 30, 2027, linked to the performance of the S&P 500® and NASDAQ-100 indices. The notes offer:

• 1-to-1 positive return based on the least performing index, capped at 27.50% maximum return ($1,275 per $1,000)
• Positive return equal to the percentage decline if the least performing index falls up to 20%, capped at 20% return ($1,200 per $1,000)
• Loss exposure of 1% for every 1% decline beyond 20% buffer, with potential loss up to 80% of principal
• Initial index levels: S&P 500 at 6,025.17 and NASDAQ-100 at 21,856.33
• Buffer levels: S&P 500 at 4,820.14 and NASDAQ-100 at 17,485.06

The notes carry credit risk of Bank of Montreal, offer no interest payments, and are not listed on any exchange. The estimated initial value is $987.17 per $1,000 principal amount.

Celcuity Inc. (Nasdaq: CELC) filed a Form 8-K on 30 June 2025 to furnish a press release containing preliminary clinical data for its PI3K/mTOR inhibitor gedatolisib combined with darolutamide in metastatic castration-resistant prostate cancer (mCRPC).

In the Phase 1 portion of the study, 38 patients were randomised to receive 600 mg darolutamide twice daily with either 120 mg (Arm 1) or 180 mg (Arm 2) gedatolisib administered once weekly for three weeks on/one week off. Data cut-off was 30 May 2025. Key efficacy and safety results for the pooled arms were:

• 66 % six-month radiographic progression-free survival (rPFS)
• 0 treatment-related discontinuations and no dose reductions
• No Grade 3 hyperglycaemia reported
• Grade 2-3 stomatitis observed in 4 patients (10.5 %)

The company intends to enroll up to six patients in each of three additional Phase 1 dosing arms, followed by up to 40 patients in Phase 1b to establish the recommended Phase 2 dose (RP2D). A Phase 2 expansion will bring the total treated at RP2D to approximately 30 subjects. All participants will continue to receive standard darolutamide.

Celcuity emphasised that the Item 7.01 information is being furnished, not filed, and included customary forward-looking-statement language regarding trial timelines, regulatory prospects, market opportunity, and capital requirements.

Bank of Montreal has issued $2,629,000 in Autocallable Barrier Notes linked to Microsoft stock, due July 27, 2026. Key features include:

• Monthly Contingent Coupons of 0.7083% (8.50% annually) if Microsoft stock closes above the Coupon Barrier Level ($388.80, 80% of Initial Level)
• Automatic Redemption starting December 2025 if Microsoft stock closes above Initial Level ($486.00)
• Principal Risk: If notes aren't automatically redeemed and Microsoft stock falls below Trigger Level ($388.80) at maturity, investors receive shares/cash worth less than principal
• Pricing Details: Notes priced at 100% with 2.15% agent commission; estimated initial value $970.38 per $1,000

Notes are unsecured obligations of Bank of Montreal, offered in $1,000 denominations through BMO Capital Markets. Not listed on exchanges and subject to credit risk of Bank of Montreal.