BMO Financial Group Announces Intention to Purchase for Cancellation Up to 30 Million of its Common Shares

Core Viewpoint - Bank of Montreal intends to terminate its existing normal course issuer bid and establish a new one to purchase up to 30 million common shares, pending regulatory approval [1][3]. Group 1: Existing and New Bid Details - The existing bid commenced on January 22, 2025, and was set to terminate on January 21, 2026. As of August 22, 2025, 15.7 million shares had been purchased under this bid [2]. - The new bid will allow the purchase of up to 30 million common shares, representing approximately 4.2% of the public float as of July 31, 2025 [3][4]. - The new bid will be executed through the TSX and may include other trading systems or methods as permitted by regulatory authorities [2][3]. Group 2: Share and Market Information - As of July 31, 2025, there were 716,360,515 common shares issued and outstanding, with a public float of 716,119,627 shares [4]. - The timing and amount of purchases under the new bid will be at management's discretion, influenced by market conditions and capital adequacy [3]. Group 3: Company Overview - Bank of Montreal is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2025 [12]. - The bank serves approximately 13 million customers across Canada, the United States, and select global markets, offering a wide range of financial services [12].