Mr. Scott Doll reports

BMO COMPLETES SALE OF 138 U.S. BRANCHES TO FIRST CITIZENS BANK

Bank of Montreal (BMO Financial Group) has completed the sale of 138 branches to First-Citizens Bank & Trust Company (First Citizens Bank).

As previously announced, the branches are in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma and Idaho, as well as select branches in Minnesota, Oregon and Illinois.

The transaction supports BMO's strategy to optimize its U.S. financial centre network and redeploy capital and resources to markets with strong client engagement and long-term growth potential.

About Bank of Montreal (BMO Financial Group)

BMO Financial Group is the eighth-largest bank in North America by assets, with total assets of $1.5-trillion as of July 31, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets, and investment banking products and services across Canada, the United States and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams and automate its business responsibly. Driven by its 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 stronger communities.