Investor Presentaiton

Continued operating momentum across our businesses • Advantaged and diversified business mix positioned for resilience and growth Top tier financial performance4 #1 Adjusted¹ PPPT² growth - YTD4 (%) 6.8 BMO Peer average • Leading adjusted¹ PPPT2 growth and efficiency³ improvement, better than average net revenue³ and expense growth, and continuing to invest in our businesses • Peer-leading YTD PPPT 1,2 growth in Canadian • P&C, up 14.0% U.S. P&C PPPT 1,2 up 18% YTD with strong revenue growth and expense management ⚫ Continued strong earnings in Capital Markets and Wealth Management • Very strong credit performance reflecting portfolio quality and strength in risk management Continued progress on returns and efficiency ROE improved to 16.7%¹ YTD 21.3 Efficiency 1,3 improved to 56.2%¹ from 60.2% YTD Adjusted¹ efficiency³ improvement - YTD4 (bps) 400 80 BMO Peer average #1 #2 #3 Net revenue growth - YTD4 (%) Adjusted¹ expense growth - YTD4 (%) 10.2 3.2 2.9 4.8 BMO Peer average BMO Peer average 1 On an adjusted basis. Adjusted measures are non-GAAP measures, see slide 2 for more information; Canadian PC& reported YTD PPPT growth 14.0%; US P&C reported YTD PPPT growth 19.0%; total bank reported YTD ROE 14.5% and YTD Efficiency 60.6% 2 Pre-Provision Pre-Tax earnings (PPPT) is the difference between net revenue and expenses 3 Revenue is net of insurance claims, commissions and changes in policy benefit liabilities (CCPB); efficiency ratio based on net revenue 4 Based on Q3'21 YTD performance. Peers: BNS, CIBC, NA, RBC, TD; peer average based on company disclosures and internal calculations for comparative purposes BMO Financial Group Investor Presentation • October 2021 8

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