Bank of Montreal is offering Senior Medium-Term Notes, Series I Contingent Risk Absolute Return Buffer Notes due February 4, 2028, linked to the S&P 500 Index. The notes provide 1-to-1 positive return based on S&P 500 appreciation, capped at 30.60%, plus positive return up to 20% if the index declines up to 20%. Investors risk losing up to 80% of principal for index declines over 20%.The notes have a $1,000 minimum denomination and do not bear interest or list on any exchange. All payments are subject to Bank of Montreal's credit risk. BMO Capital Markets Corp. is the agent for this offering. The estimated initial value is $972.60 per $1,000 principal amount, which may differ from the public offering price.The notes involve risks including potential loss of principal, limited upside due to caps, credit risk of Bank of Montreal, and lack of liquidity. Investors should carefully review the offering documents and risk factors before investing.

Bank of Montreal is offering Senior Medium-Term Notes, Series I Contingent Risk Absolute Return Buffer Notes due February 4, 2028, linked to the S&P 500 Index. The notes provide 1-to-1 positive return based on S&P 500 appreciation, capped at 30.60%, plus positive return up to 20% if the index declines up to 20%. Investors risk losing up to 80% of principal for index declines over 20%.The notes have a $1,000 minimum denomination and do not bear interest or list on any exchange. All payments are subject to Bank of Montreal's credit risk. BMO Capital Markets Corp. is the agent for this offering. The estimated initial value is $972.60 per $1,000 principal amount, which may differ from the public offering price.The notes involve risks including potential loss of principal, limited upside due to caps, credit risk of Bank of Montreal, and lack of liquidity. Investors should carefully review the offering documents and risk factors before investing.