Bank of Montreal

Prospectus • Nov 26, 2025

National Storage Mechanism | Additional information

RNS Number : 1504J

Bank of Montreal

26 November 2025

Regulatory Announcement

Publication of Pricing Supplement

Bank of Montreal has agreed to issue USD 30,000,000 Multi-Callable Fixed Rate Senior Notes due November 25, 2040, Series 444 (the "Notes") pursuant to its U.S.$40,000,000,000 Note issuance Programme (the "Programme").

The following document constitutes the pricing supplement dated November 21, 2025 (the "Pricing Supplement") relating to the admission to trading of the Notes on the International Securities Market  pursuant to section 3.5 of the London Stock Exchange's  ISM Rulebook and must be read in conjunction with the prospectus dated June 27, 2025 and the supplementary admission particulars dated August 26, 2025 (together, the "Prospectus").  Full information on Bank of Montreal and the offer of the Notes is only available on the basis of the combination of the Pricing Supplement and the Prospectus.

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Prospectus and the Pricing Supplement may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Pricing Supplement is not addressed. Prior to relying on the information contained in the Pricing Supplement you must ascertain from the Prospectus, as supplemented by these Pricing Supplement, whether or not you are part of the intended addressees of the information contained therein.

The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and are subject to U.S. tax law requirements.  Subject to certain exceptions, the Notes may not be offered, sold or delivered in the United States or to or for the account of U.S. persons (as defined in Regulation S under the Securities Act).  No public offering of the Notes is being made in the United States.

Your right to access this service is conditional upon complying with the above requirement.

UK MiFIR professionals / ECPs-only / No PRIIPs KID - Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels).  No PRIIPs key information document (KID) has been prepared as not available to retail in EEA and the UK.

To view the full document, please paste the following URL into the address bar of your browser.

http://www.rns-pdf.londonstockexchange.com/rns/1504J_1-2025-11-26.pdf

For further information, please contact:

Zoë Kruis

Corporate Secretary's Dept.

Phone: (416) 643-2628

Email: [email protected]

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