Q2 F2023 - Bank of the West Contribution & Financial Results

1 Strong Q2'23 CET1 ratio of 12.2% Common Equity Tier 1 Ratio¹ 18.2% -680 bps ~1.2% 17.0% 12.2% +29 bps +2 bps +32 bps +12 bps +12 bps Q1'23 Bank of the West Acquisition³ Internal Capital Generation DRIP Source Currency RWA Basel III Reforms Other Q2'23 Q2'23 CET1 ratio1 of 12.2%, down from Q1'23 Primarily due to the closing of the acquisition of BOTW Partially offset by Internal capital generation and DRIP shares issued from treasury Lower source currency RWA primarily from the elimination of capital floor adjustment Lower RWA resulting from the implementation of Basel III Reforms 1 The Common Equity Tier 1 (CET1) Ratio is disclosed in accordance with OSFI's Capital Adequacy Requirements (CAR) Guideline 2 Represents the cumulative impact from fair value management activities related to the acquisition of BOTW to mitigate exposure to capital at closing. See the Significant Events section of BMO's Second Quarter 2023 MD&A for more information 3 BOTW impact includes capital deductions for goodwill and intangible assets, initial provision for credit losses on the purchased performing loan portfolio and RWA resulting from the acquisition BMOM Financial Results May 24, 2023 • 17

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