An anonymous director reports

BMO ANNOUNCES ESTIMATED ANNUAL REINVESTED DISTRIBUTIONS FOR BMO EXCHANGE TRADED FUNDS AND ETF SERIES

Bank of Montreal's BMO Asset Management Inc. and BMO Investments Inc. have estimated 2023 annual reinvested distributions for BMO exchange-traded funds (ETFs) or the ETF series of BMO mutual funds. These annual reinvested distributions generally represent realized capital gains and special income within the BMO ETFs and ETF series, and are paid to unitholders, as required, to ensure that the BMO ETFs and ETF series are not liable for ordinary income tax.

Unitholders of record at the close of business on Dec. 28, 2023, will receive the 2023 annual reinvested distributions. The final year-end distribution amounts, as well as the continuing cash distribution amounts, are expected to be declared on Dec. 18, 2023. The actual taxable amounts, including the tax characteristics, will be reported in 2024.

Please note that these are estimated annual reinvested distributions only and have been calculated based on forward-looking information as of Oct. 20, 2023. If the forward-looking information changes, the estimated annual reinvested distributions may also change.

These estimates are for the annual reinvested distributions only and do not include estimates of continuing cash distribution amounts.

Details of the per-unit estimated annual reinvested distribution amounts are provided in an attached table.

About Bank of Montreal

BMO is the eighth-largest bank in North America by assets, with total assets of $1.25-trillion as of July 31, 2023. 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 over 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.

We seek Safe Harbor.