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BMO Profile

EsEsEsEsEstablished in 1817 as Btablished in 1817 as Btablished in 1817 as Btablished in 1817 as Btablished in 1817 as Bank oank oank oank oank of Monf Monf Monf Monf Montrtrtrtrtreeeeeal, BMal, BMal, BMal, BMal, BMO Financial GrO Financial GrO Financial GrO Financial GrO Financial Groupoupoupoupoup(T(T(T(T(TSXSXSXSXSX, NYSE, NYSE, NYSE, NYSE, NYSE: BM: BM: BM: BM: BMO) is a highly divO) is a highly divO) is a highly divO) is a highly divO) is a highly diversified financial servicersified financial servicersified financial servicersified financial servicersified financial serviceeeeesssssorororororganizaganizaganizaganizaganization. With ttion. With ttion. With ttion. With ttion. With toooootal astal astal astal astal assesesesesets ots ots ots ots of $356 bilf $356 bilf $356 bilf $356 bilf $356 billion alion alion alion alion at January 31t January 31t January 31t January 31t January 31, 2007, 2007, 2007, 2007, 2007and 35and 35and 35and 35and 35,323 emplo,323 emplo,323 emplo,323 emplo,323 employyyyyeeeeeeeeeesssss, BM, BM, BM, BM, BMO prO prO prO prO prooooovidevidevidevidevides a brs a brs a brs a brs a broad road road road road range oange oange oange oange of rf rf rf rf reeeeetailtailtailtailtailbankingbankingbankingbankingbanking, w, w, w, w, weeeeealth managemenalth managemenalth managemenalth managemenalth management and int and int and int and int and invvvvveeeeessssstmentmentmentmentment banking prt banking prt banking prt banking prt banking productsoductsoductsoductsoductsand solutions.and solutions.and solutions.and solutions.and solutions.

We serve Canadian clients through BMO Bank of Montreal, our personaland commercial banking business, BMO Nesbitt Burns, one of Canada’sleading wealth management firms, and BMO Capital Markets, ourNorth American investment and corporate banking division.

In the United States, clients are served through Harris, a majorU.S. Midwest financial services organization with a network ofcommunity banks in the Chicago area and wealth managementoffices across the United States, as well as BMO Capital Markets, ourNorth American investment and corporate banking division.

2007 Key Strategic PrioritiesBuild a superior Canadian personal banking businessto ensure that we meet all of our customers’ financial needs.

Further strengthen our commercial banking businessesto become a leading player everywhere we compete.

Grow our wealth management businesses, capturing an increasingshare of this high-growth market.

Drive strong returns and disciplined growth in ourNorth American investment banking business.

Improve our U.S. performance and expand our networkto become the leading personal and commercial bank inthe U.S. Midwest.

Build a high-performing, customer-focused organizationsupported by a world-class foundation of productive technologies,efficient processes, disciplined performance management,sound risk management and governance.

Businesses: Q1 2007PPPPPersonal and Cersonal and Cersonal and Cersonal and Cersonal and Commerommerommerommerommercial Bcial Bcial Bcial Bcial BankingankingankingankingankingPersonal and Commercial Banking (P&C) provides fullyintegrated personal and business banking solutions,including deposit accounts, loans and credit cards, insuranceproducts, and personal investment products, to more thaneight and a half million customers across Canada and theUnited States. Our products and services are delivered by ahighly skilled team of professionals through 1,182 BMOBank of Montreal and HarrisTM branches, through telephonebanking and online banking at bmo.com andharrisbank.com, and through a network of 2,486 automatedbanking machines.

PrivPrivPrivPrivPrivaaaaattttte Cliene Cliene Cliene Cliene Client Grt Grt Grt Grt GroupoupoupoupoupPrivate Client Group (PCG) offers a full range of wealthmanagement products and solutions, including full-serviceand direct investing, private banking and investmentproducts, to our customers across North America. Our highlytrained professionals are dedicated to serving the needs andgoals of our clients to accumulate, protect and grow theirfinancial assets. PCG serves our clients through BMO Bank ofMontreal and Harris branches, as well as stand-alone BMONesbitt Burns® and BMO Harris Private Banking offices,through BMO InvestorLine®, and through Harris PrivateBank® offices in key U.S. centres.

InInInInInvvvvveeeeessssstmentmentmentmentment Bt Bt Bt Bt Banking Granking Granking Granking Granking GroupoupoupoupoupInvestment Banking Group (IBG), operating under the BMOCapital MarketsTM brand, combines all of our businessesserving corporate, institutional and government clients. InCanada and the United States, our clients span a broad rangeof industry sectors. We also serve clients in the UnitedKingdom, Europe, Asia and Australia. BMO Capital Marketsoffers complete financial solutions, including equity and debtunderwriting, corporate lending and project financing,mergers and acquisitions advisory services, merchantbanking, securitization, treasury and market riskmanagement, debt and equity research and institutionalsales and trading.

Financial Highlights Q1 2007

*In Q1 07 BMO recorded a restructuring charge of $135MM ($88MM after tax) consistingof $117MM for severance-related costs in respect of the planned elimination ofapproximately 1,000 primarily non-customer-facing positions and $18MM of other non-employee-related costs.

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total as-sets of $357 billion as at April 30, 2007, and more than 35,000 employ-ees, BMO provides a broad range of retail banking, wealth management and investment banking products and solutions.

BMO Financial Group serves clients across Canada through our Canadian retail arm, BMO Bank of Montreal and through our wealth management firms BMO Nesbitt Burns, BMO InvestorLine and BMO Harris Private Banking. BMO Capital Markets, our North American investment and corporate banking division, pro-vides a full suite of financial products and services to our North American and international clients. In the United States, BMO serves clients through Chicago-based Harris, an integrated financial services organization that provides more than one million personal and business clients with banking, lending, investing, financial plan-ning, trust administration, portfolio management, family office and wealth transfer services.

BMO Profile

Businesses: Q2 2007

Personal and Commercial BankingPersonal and Commercial Banking provides fully integrat-ed personal and business banking solutions, including de-posit accounts, loans and credit cards, insurance products, and personal investment products, to more than eight and a half million customers across Canada and the United States. Our products and services are delivered by a highly skilled team of professionals through 1,215 BMO Bank of Montreal and HarrisTM branches, through telephone bank-ing and online banking at bmo.com and harrisbank.com, and through a network of 2,535 automated banking machines.

Private Client Group Private Client Group (PCG) offers a full range of wealth management products and solutions, includ-ing full-service and direct investing, private banking and investment products, to our customers across North America. Our highly trained professionals are dedicated to serving the needs and goals of our clients to accumu-late, protect and grow their financial assets. PCG serves our clients through BMO Bank of Montreal and Harris branches, as well as stand-alone BMO Nesbitt Burns® and BMO Harris Private Banking offices, through BMO InvestorLine®, and through Harris Private Bank® offices in key U.S. centres.

BMO Capital MarketsBMO Capital Markets (BMO CM) combines all of our businesses serving corporate, institutional and govern-ment clients. In Canada and the United States, our clients span a broad range of industry sectors. We also serve clients in the United Kingdom, Europe, Asia and Australia. BMO Capital Markets offers complete financial solutions, including equity and debt underwriting, corporate lending and project financing, mergers and acquisitions advisory services, merchant banking, securitization, treasury and market risk management, debt and equity research and institutional sales and trading.

2007 Strategic Priorities

Financial Highlights Q2 2007

1. Build a superior Canadian personal banking business to ensure that we meet all of our customers’ financial needs.

2. Further strengthen our commercial banking businesses to become a leading player everywhere we compete.

3. Grow our wealth management businesses, capturing an increasing share of this high-growth market.

4. Drive strong returns and disciplined growth in our North American investment banking business.

5. Improve our U.S. performance and expand our network to become the leading personal and commercial bank in the U.S. Midwest.

6. Build a high-performing, customer-focused organization supported by a world-class foundation of productive technologies, efficient processes, disciplined performance management, sound risk management and governance.

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Net Income: P&C(Canadian $ in millions)

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Net Income: PCG(Canadian $ in millions)

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Net Income: BMO CM(Canadian $ in millions)

Net Income(Canadian $ in millions)

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651710 696

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Return on Equity(Canadian $ in millions)

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19.320.3

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Productivity Ratio (%)Taxable Equivalent Basis

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62.3 61.564.6 62.8

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Earnings per Share(Canadian $)

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1.47

1.251.38 1.35 1.30

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16.616.4

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Five Year Total Shareholder return (%)

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64.67 63.9569.45 70.01 69.46

Q2Q22006

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BMO Share Price ($)Last Trading Day of Period

As ReportedExcluding restructuring charge and commodities trading losses.

In Q1 07 and Q2 07 BMO recorded commodities trading losses in BMO CM, net of performance based compensation and taxes, of $237MM and $90MM respectively.

In Q1 07 BMO recorded a restructuring charge of $135MM ($88MM after tax) consisting of $117MM for severance-related costs in respect of the planned elimination of approximately 1,000 primarily non-customer-facing positions and $18MM of other nonemployee-related costs.

As ReportedExcluding restructuring charge and commodities trading losses.

In Q1 07 and Q2 07 BMO recorded commodities trading losses in BMO CM, net of performance based compensation and taxes, of $237MM and $90MM respectively.

F2007 Targets

Performance Measure YTD Performance (excluding restructuring charge) F2007 Targets

EPS Growth(base of $5.11 - excluding changes in the general allowance)

$2.13 — down 12% from $2.42 a year ago 5% to 10%

Return on Equity 14.9% 18% to 20%

Specific provision for credit losses of $111 MM$400 million or lessRevised to: $300 million or less

Cash Productivity Ratio (473) bps Improve cash productivity ratio by 100 to 150 bps

U.S. Expansion* Purchase price

Date Acquisition (Canadian $ in millions)

1984 Harris Bank $ 718

1985 First National Bank of Harrington 43

1987 Commercial State Bank (Phoenix) 3

1988 State Bank of St. Charles and

First National Bank of Batavia 31

1990 Libertyville Federal Savings and Loan 7

1990 Frankfort Bancshares 20

1994 Suburban Bancorp 300

1996 Household International 378

2000 Village Banc of Naples 19

2000 Century bank 24

2001 First National Bank of Joliet 337

2002 Northwestern Trust 19

2002 myCFO 61

2003 Sullivan, Bruyette, Speros & Blaney 20

2003 Gerard Klauer Mattison 40

2004 Lakeland Community Bank 49

2004 New Lenox State Bank 314

2004 Mercantile Bank 194

2005 Edville Bankorp 81

2006 First National Bank & Trust 343

Total $3,001

*Acquisitions relating to Harrisdirect ( Burke, Christensen & Lewis, Freeman Welwood, CSFBdirect and Morgan Stanley Direct Brokerage), totaling $1,206 million, have been excluded from this summary.

BMO Share Performance

Declared Dividend History

Credit Performance

Share Information: Q2 2007

Contact Information

Viki LazarisSenior Vice PresidentInvestor Relations

BMO Financial Group100 King Street West1 First Canadian Place, 18th FloorToronto, ON M5X 1A1

Tel: 416-867-6656Fax: 416-867-3367Email: Viki.Lazaris@bmo.com

http://www.bmo.com/investorrelations.

Common shares outstanding (30 April 2007): 500 028 856Average volume of shares traded on TSX: 1 222 021Average volume of shares traded on NYSE: 83 526Market Capitalization (30 April 2007): CDN $35 billionTarget dividend payout ratio: 45-55%

Credit ratings: Standard and Poor’s: AA- Moody’s: Aa1

CAD Share

0.56 0.60 0.66 0.74 0.82 0.88 0.94 1.001.12 1.20

1.34

1.59

1.85

2.26

2.69*

93 94 95 96 97 98 99 00 01 02 03 04 05 06 07

*Estimate based on the assumption that current dividend level continues for the rest of the year

0

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TSX Composite Index

BMO Equity

BMO EquityTSX Composite IndexTSX Financials Index

2002 2003 2004 2005 2006 Q1 2007

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BMO Cdn Competitors Weighted Avg 15 Year Average BMO

Specific Provision for Credit Losses as a % of Average Net Loans and Acceptances(including reverse repos)