BMO Financial Group Reports First Quarter 2019 Results (4)

Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2018 Annual Report under the heading "Economic Developments and Outlook", as updated by the Economic Review and Outlook section set forth in this document. Assumptions about the performance of the Canadian and U.S. economies, as well as overall market conditions and their combined effect on our business, are material factors we consider when determining our strategic priorities, objectives and expectations for our business. In determining our expectations for economic growth, both broadly and in the financial services sector, we primarily consider historical economic data provided by governments, historical relationships between economic and financial variables, and the risks to the domestic and global economy. See the Economic Review and Outlook section on page 6 of our First Quarter 2019 Report to Shareholders.

INVESTOR AND MEDIA PRESENTATION

Investor Presentation Materials

Interested parties are invited to visit our website athttp://www.bmo.com/investorrelationsto review our 2018 annual MD&A and audited annual consolidated financial statements, quarterly presentation materials and supplementary financial information package.

Quarterly Conference Call and Webcast Presentations

Interested parties are also invited to listen to our quarterly conference call on Tuesday, February 26, 2019, at 8:30 a.m. (ET). The call may be accessed by telephone at 416-641-2144 (from within Toronto) or 1-888-789-9572 , entering Passcode: 8641002#. A replay of the conference call can be accessed until Tuesday, May 28, 2019, by calling 905-694-9451 (from within Toronto) or 1-800-408-3053 and entering Passcode:6462367#.

A live webcast of the call can be accessed on our website athttp://www.bmo.com/investorrelations. A replay can also be accessed on the site.

Shareholder Dividend Reinvestment and Share Purchase Plan (the Plan) Average market price as defined under the Plan November 2018: $97.65 December 2018: $87.50 January 2019: $97.09

For dividend information, change in shareholder address or to advise of duplicate mailings, please contact: Computershare Trust Company of Canada 100 University Avenue, 8th Floor Toronto, Ontario M5J 2Y1 Telephone: 1-800-340-5021 (Canada and the United States) Telephone: (514) 982-7800 (International) Fax: 1-888-453-0330

For other shareholder information, including the notice for our normal course issuer bid, please contact: Bank of Montreal Shareholder Services Corporate Secretary's Department One First Canadian Place, 21st Floor Toronto, Ontario M5X 1A1 Telephone: (416) 867-6785 Fax: (416) 867-6793 E-mail: corp.secretary@bmo.com

For further information on this document, please contact Bank of Montreal Investor Relations Department P.O. Box 1, One First Canadian Place, 10th Floor Toronto, Ontario M5X 1A1

To review financial results and regulatory filings and disclosures online, please visit our website at http://www.bmo.com/investorrelations .

Our 2018 Annual MD&A, audited annual consolidated financial statements and annual report on Form 40-F (filed with the U.S. Securities and Exchange Commission) are available online athttp://www.bmo.com/investorrelationsand athttp://www.sedar.com. Printed copies of the bank's complete 2018 audited financial statements are available free of charge upon request at 416-867-6785 orcorp.secretary@bmo.com.

(R) Registered trademark of Bank of Montreal

Annual Meeting 2019

The next Annual Meeting of Shareholders will be held on Tuesday, April 2, 2019, in Toronto, Ontario.

Media Relations Contact: Paul Gammal, Toronto, paul.gammal@bmo.com, 416-867-6543; Investor Relations Contacts: Jill Homenuk, Head, Investor, Media & Government Relations, jill.homenuk@bmo.com, 416-867-4770; Christine Viau, Director, Investor Relations, christine.viau@bmo.com, 416-867-6956