Mr. John Fenton reports

BMO ANNOUNCES ELECTION OF BOARD OF DIRECTORS

Bank of Montreal today held its annual meeting of shareholders.

At the meeting, all director nominees listed in the bank's management proxy circular dated Feb. 7, 2024, were elected. The detailed results of the vote for the election of directors are set out in the attached table.

Each of the 13 nominees was elected as a director of BMO.

Final voting results on all matters voted on at the annual meeting of shareholders held earlier today will be published shortly on BMO's website and filed with Canadian and U.S. securities regulators.

About Bank of Montreal

BMO is the eighth-largest bank in North America by assets, with total assets of $1.3-trillion as of Jan. 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada and the United States, and in select markets globally. Driven by a single purpose, to boldly grow the good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future and inclusive society.