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1、Investor PresentationBMO Financial GroupFor the Quarter Ended January 31,2025February 25,2025Q1 25Strategic Highlights February 25,20252Bank of Montreals public communications often include written or oral forward-looking statements.Statements of this type are included in this document and may be in

2、cluded in other filings with Canadian securities regulators or the U.S.Securities and Exchange Commission,or in other communications.All such statements are made pursuant to the“safe harbor”provisions of,and are intended to be forward-looking statements under,the United States Private Securities Lit

3、igation Reform Act of 1995 and any applicable Canadian securities legislation.Forward-looking statements in this document may include,but are not limited to:statements with respect to our objectives and priorities for fiscal 2025 and beyond;our strategies or future actions;our targets and commitment

4、s(including with respect to net zero emissions);expectations for our financial condition,capital position,the regulatory environment in which we operate,the results of,or outlook for,our operations or the Canadian,U.S.and international economies;and include statements made by our management.Forward-

5、looking statements are typically identified by words such as“will”,“would”,“should”,“believe”,“expect”,“anticipate”,“project”,“intend”,“estimate”,“plan”,“goal”,“commit”,“target”,“may”,“might”,“schedule”,“forecast”,“outlook”,“timeline”,“suggest”,“seek”and“could”or negative or grammatical variations t

6、hereof.By their nature,forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties,both general and specific in nature.There is significant risk that predictions,forecasts,conclusions or projections will not prove to be accurate,that our assumptions

7、may not be correct,and that actual results may differ materially from such predictions,forecasts,conclusions or projections.We caution readers of this document not to place undue reliance on our forward-looking statements,as a number of factors many of which are beyond our control and the effects of

8、 which can be difficult to predict could cause actual future results,conditions,actions or events to differ materially from the targets,expectations,estimates or intentions expressed in the forward-looking statements.The future outcomes that relate to forward-looking statements may be influenced by

9、many factors,including,but not limited to:general economic and market conditions in the countries in which we operate,including labour challenges and changes in foreign exchange and interest rates;political conditions,including changes relating to,or affecting,economic or trade matters,including tar

10、iffs,countermeasures and tariff mitigation policies;changes to our credit ratings;cyber and information security,including the threat of data breaches,hacking,identity theft and corporate espionage,as well as the possibility of denial of service resulting from efforts targeted at causing system fail

11、ure and service disruption;technology resilience,innovation and competition;failure of third parties to comply with their obligations to us;disruptions of global supply chains;environmental and social risk,including climate change;the Canadian housing market and consumer leverage;inflationary pressu

12、res;changes in laws,including tax legislation and interpretation,or in supervisory expectations or requirements,including capital,interest rate and liquidity requirements and guidance,including if the bank were designated a global systemically important bank,and the effect of such changes on funding

13、 costs and capital requirements;changes in monetary,fiscal or economic policy;weak,volatile or illiquid capital or credit markets;the level of competition in the geographic and business areas in which we operate;exposure to,and the resolution of,significant litigation or regulatory matters,the appea

14、l of favourable outcomes and our ability to successfully appeal adverse outcomes of such matters and the timing,determination and recovery of amounts related to such matters;the accuracy and completeness of the information we obtain with respect to our customers and counterparties;our ability to exe

15、cute our strategic plans,complete proposed acquisitions or dispositions and integrate acquisitions,including obtaining regulatory approvals,and realize any anticipated benefits from such plans and transactions;critical accounting estimates and judgments,and the effects of changes in accounting stand

16、ards,rules and interpretations on these estimates;operational and infrastructure risks,including with respect to reliance on third parties;global capital markets activities;the emergence or continuation of widespread health emergencies or pandemics,and their impact on local,national or international

17、 economies,as well as their heightening of certain risks that may affect our future results;the possible effects on our business of war or terrorist activities;natural disasters,such as earthquakes or flooding,and disruptions to public infrastructure,such as transportation,communications,power or wa

18、ter supply;and our ability to anticipate and effectively manage risks arising from all of the foregoing factors.We caution that the foregoing list is not exhaustive of all possible factors.Other factors and risks could adversely affect our results.For more information,please refer to the discussion

19、in the Risks That May Affect Future Results section,and the sections related to credit and counterparty,market,insurance,liquidity and funding,operational non-financial,legal and regulatory,strategic,environmental and social,and reputation risk,in the Enterprise-Wide Risk Management section of BMOs

20、2024 Annual Report,and the Risk Management section in our First Quarter 2025 Report to Shareholders,all of which outline certain key factors and risks that may affect our future results.Investors and others should carefully consider these factors and risks,as well as other uncertainties and potentia

21、l events,and the inherent uncertainty of forward-looking statements.We do not undertake to update any forward-looking statements,whether written or oral,that may be made from time to time by the organization or on its behalf,except as required by law.The forward-looking information contained in this

22、 document is presented for the purpose of assisting shareholders and analysts in understanding our financial position as at and for the periods ended on the dates presented,as well as our strategic priorities and objectives,and may not be appropriate for other purposes.Material economic assumptions

23、underlying the forward-looking statements contained in this document include those set out in the Economic Developments and Outlook section of BMOs 2024 Annual Report,as updated in the Economic Developments and Outlook section and the Risk Management-Update on General Economic Conditions and Trade D

24、isputes section in our First Quarter 2025 Report to Shareholders,as well as in the Allowance for Credit Losses section of BMOs 2024 Annual Report,as updated in the Allowance for Credit Losses section in our First Quarter 2025 Report to Shareholders.Assumptions about the performance of the Canadian a

25、nd U.S.economies,as well as overall market conditions and their combined effect on our business,are material factors we consider when determining our strategic priorities,objectives and expectations for our business.In determining our expectations for economic growth,we primarily consider historical

26、 economic data,past relationships between economic and financial variables,changes in government policies,and the risks to the domestic and global economy.Caution Regarding Forward-Looking StatementsDarryl WhiteChief Executive OfficerQ1 25Strategic Highlights February 25,20254Well-diversified across

27、 geographies and businessesStrong capital and liquidity U.S.Segment positioned for growth Adjusted PPPT1,2 of US$1.2B,up 21%(reported2 US$1.1B,up 156%)Contributed 40%of total bank earningsExecuting ROE strategiesEfficiency Ratio56.3%58.6%ROE11.3%10.6%ROTCE314.9%14.4%CET1413.6%PPPT2Y/Y Growth32%68%EP

28、S$3.04$2.83Net Income$2.3B$2.1BPositioned for a dynamic environmentBroad-based adjusted revenue growth of 18%(reported 21%)Adjusted PPPT1,2of$4B,up 32%(reported2$3.8B up 68%)Positive operating leverage in each businessInitiated share buy back programLower credit loss provisions Q/QQ1 2025Adjusted1Re

29、portedAdjusted1ReportedAdjusted1,2Reported2 Adjusted1ReportedAdjusted1ReportedAdjusted1ReportedStrong operating performance PPPT2growth and positive operating leverage,moderation in loan loss provisionsAdjusted1ReportedOperating Leverage8.9%20.1%Adjusted1Reported1 Adjusted results and measures are n

30、on-GAAP.Refer to slide 38 for more information and slide 39 for adjustments to reported results2 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP measures.Refer to slide 38 for more information and slide 41 for calculation of PPPT3 Reported and adjusted return on tangible commo

31、n equity(ROTCE)are non-GAAP measures.Refer to slide 38 and Non-GAAP and Other Financial Measures section of BMOs First Quarter 2025 MD&A for more information4 Common Equity Tier 1(CET1)Ratio is disclosed in accordance with the Capital Adequacy Requirements(CAR)Guideline,as set out by the Office of t

32、he Superintendent of Financial Institutions(OSFI)Q1 2025 HighlightsStrategic Highlights February 25,20255Canadian Personal&Commercial BankingBMO Wealth ManagementBMO Capital MarketsU.S.Personal&Commercial Banking2,017 2,117 2,206 761 817 859 2,7782,9343,065Q124Q424Q125Reported Revenue($MM)Commercial

33、Personal&BusinessBankingDiversified businesses delivering resilient performance725 696 715 1,108 1,114 1,156 1,8331,8101,871Q124Q424Q125Reported Revenue(teb2,US$MM)CommercialPersonal&BusinessBankingPPPT1Y/Y Growth6%8%1,247 1,399 1,452 81 87 134 1,3281,4861,586Q124Q424Q125Reported Revenue($MM)Insuran

34、ceWealth and AssetManagement952 938 1,361 637 662 712 1,5891,6002,073Q124Q424Q125Reported Revenue(teb2,$MM)Investment andCorporate BankingGlobal MarketsContinued to launch innovative products such as our new BMO VIPortertravel credit cards in partnership with Porter Airlines and MasterCard Launched

35、BMO Sync,integrating BMO Online Banking for Business directly into Enterprise Resource Planning and accounting systemsContinued momentum in core customer growth and retention in Personal&Business Banking Growing connected relationships with strong referral growth between Commercial and their Capital

36、 Markets and Wealth partnersRanked#1 in U.S.Agency CMO issuances3Announced strategic direct lending partnership with Canal Road Group offering full suite of innovative,private financing solutions to our clientsLaunched new Canadian Depositary Receipts(CDRs)and BMO SPDR Select Sector Index ETFs,givin

37、g investors enhanced access and flexibility22 BMO ETFs won FundGrade A+Awards,the most of any financial organization in 2024PPPT1Y/Y Growth13%13%Adjusted1Reported1Adjusted1Reported1PPPT1Y/Y Growth48%48%Adjusted1Reported1PPPT1Y/Y Growth67%73%Adjusted1Reported1Prior period amounts have been reclassifi

38、ed to conform with the current period presentation1 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP measures.Refer to slide 38 for more information and slide 41 for calculation of PPPT2 Operating group revenue presented on a taxable equivalent basis(teb)basis.Teb adjustments i

39、n U.S.P&C(US$6MM Q125;US$6MM Q424;US$7MM Q124)and BMO Capital Markets($nil Q125;$2MM Q424;$19MM Q124)are offset in Corporate Services3 Source:BloombergStrategic Highlights February 25,20256Annual Employee Giving Campaign raised$39 million for charities across Canada and the U.S.,with 90%of employees

40、 participatingProviding relief measures for clients and communities impacted by LA wildfires,including a$3MM philanthropic pledge to help with rebuilding and recovery effortsExceeded our commitment to support Affordable Housing in Canada,with over$15 billion in credit authorizations and capital rais

41、ed Named one of the Worlds Most Ethical Companies for the 7thconsecutive year by Ethisphere,the only bank in Canada and one of only four worldwideNamed one of Canadas Most AdmiredTMCorporate Cultures by Waterstone Human Capital Being our clients lead partner in the transition to a net-zero worldProv

42、iding access to capital and valuable financial adviceFor a Thriving EconomyFor a Sustainable FutureFor an Inclusive SocietyThis slide contains forward-looking statements.Refer to the Caution Regarding Forward-Looking Statements on slide 2Our PurposeCommitting to zero barriers to inclusionFinancial R

43、esultsFor the Quarter Ended January 31,2025Tayfun TuzunChief Financial OfficerQ1 25Financial Results February 25,20258Q1 F2025-Financial HighlightsStrong performance with double-digit PPPT1growth and positive operating leverage1 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP

44、measures.Refer to slide 38 for more information and slide 41 for calculation of PPPT2 Adjusted results and measures are non-GAAP.Refer to slide 38 and 43 for more information and slide 39 for adjustments to reported results3 Provision for Credit Losses(PCL)Ratios are calculated as the annualized pro

45、vision for credit losses as a percentage of average net loans and acceptances4 Reported and adjusted return on tangible common equity(ROTCE)are non-GAAP measures.Refer to slide 38 and Non-GAAP and Other Financial Measures section of the First Quarter 2025 MD&A for more information1,292 1,866 1,865 2

46、,304 2,138 1,893 2,033 1,981 1,542 2,289 Q124Q224Q324Q424Q125Reported Net Income($MM)Adjusted Net Income($MM)Adjusted2EPS$3.04,up$0.48 Y/Y (reported$2.83,up$1.10)Adjusted2net income up 21%Y/Y (reported up 65%)Q125 adjusted2net income excluded$70MMimpact of aligning accounting policies for employee v

47、acation across legal entities and$79MM amortization of acquisition-related intangible assetsAdjusted2PPPT1up 32%Y/Y(reported1up 68%)Adjusted2revenue up 18%Y/Y(reported up 21%)with growth across all operating groupsAdjusted2expenses up 9%Y/Y(reported up 1%)Adjusted2operating leverage 8.9%(reported 20

48、.1%)Total provision for credit losses$1,011MM PCL on impaired loans$859MM or 50 bps3;provision on performing loans$152MM or 8 bps3U.S.segment contributed 45%to adjusted2earnings in the quarter(43%to reported)Net Income2 TrendsReportedAdjusted2($MM)Q1 25Y/YQ/QQ1 25Y/YQ/QRevenue9,26621%3%9,26618%11%Ex

49、penses5,4271%23%5,2229%7%PPPT13,83968%(15)%4,04432%16%Total PCL1,011$384$(512)1,011$384$(512)Net Income2,13865%(7)%2,28921%48%U.S.Segment Net Income(US$)639100+%(31)%71716%100+%Diluted EPS($)2.83$1.10$(0.11)3.04$0.48$1.14Efficiency Ratio(%)58.6(1,160)bps920 bps56.3(460)bps(200)bpsROE(%)10.6 340 bps(

50、80)bps11.3 70 bps390 bpsROTCE4(%)14.4410 bps(120)bps14.960 bps520 bpsCET1 Ratio(%)13.680 bps-13.680 bps-Financial Results February 25,20259U.S.P&C Key contributor to BMOs path to 15%total bank ROE1Strategic OpportunitiesCapitalize on revenue synergies and U.S.scaleGrow and deepen One Client relation

51、shipsLeverage expanded capabilities and talentCapital allocation and deposit mix+U.S.P&C F2024 ROEOperating PerformanceRevenueSynergies2Balance SheetOptimizationU.S.P&CMedium-Term ROENormalizedPCLReported54331,8231,108Adjusted61,0051,0241,214Q124Q424Q125Q125 LTM U.S.Revenue by GroupU.S.P&BB27%U.S.Co

52、mmercial42%U.S.Wealth Management7%U.S.Capital Markets24%Strong FoundationTop 10 U.S.Bank3Top 5 commercial lender4in North AmericaIntegrated North American business model,driving efficiencies and scaleOne Client approach,with local market and unified cross border expertiseWell-diversified,consistent

53、operating performanceU.S.Segment PPPT5(US$MM)Adjusted6 21%Y/YReported 156%Y/Y6%12%This slide contains forward-looking statements.Refer to the Caution Regarding Forward-Looking Statements on slide 2.LTM=Last 12 months1 We have established medium-term financial objectives for certain important perform

54、ance measures,including Return on Equity(ROE)of 15%or more.Medium-term is generally defined as three to five years,and performance is measured on an adjusted basis.These objectives serve as guideposts and assume a normal business operating environment and credit cycle.Refer to the Financial Objectiv

55、es and Value Measures section of BMOs 2024 Annual MD&A for more information2 Revenue Synergies relate to the Bank of the West acquisition3 Ranking by assets as at December 31,2024 and internal analysis.Source:SNL Financial.JP Morgan,Bank of America,Citibank,Wells Fargo,U.S.Bank,PNC Bank,Truist Bank,

56、TD Bank,Capital One,BMO4 Share of commercial loans based upon publicly available U.S.regulatory filings(FR Y-9Cs and FFIEC 002s)and internal analysis5 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP measures.Refer to slide 38 for more information and slide 41 for calculation o

57、f PPPT6 Adjusted results and measures are non-GAAP.Refer to slide 38 and 43 for more information and slide 39 for adjustments to reported resultsFinancial Results February 25,202510Balance SheetDiversified loan and deposit portfolioPrior period amounts have been reclassified to conform with the curr

58、ent period presentation1 Recreational Vehicle(RV)loan portfolio sale in Q124 impact on balances was a reduction of$4.8B in Q124 versus$9.8B in Q424 and Q125 2 Customer deposits are operating and savings deposits,including term investment certificates and retail structured deposits,primarily sourced

59、through our Retail,Commercial,Wealth Management and Corporate Banking businessesAverage gross loans and acceptances up 6%Y/Y,or 4%excluding the impact of the RV loan portfolio sale1in the prior year,Indirect Retail Auto wind-down and the stronger U.S.dollar,due to:2%growth in Business&Government loa

60、ns driven by growth in Canadian P&C and BMO Capital Markets,partially offset by lower U.S.P&C7%growth in Consumer loans,primarily driven by mortgage growth and personal loan products in the P&C businessesAverage gross loans and acceptances up 3%Q/Q or 1%excluding the impact of the stronger U.S.dolla

61、r,mainly due to growth in Canadian P&CAverage customer deposits2up 11%Y/Y or 8%excluding the impact of the stronger U.S.dollar;up 3%Q/Q or 1%excluding the impact of the stronger U.S.dollar,driven by growth across all operating groups367.9377.5392.5287.1293.9299.5Q124Q424Q125655.0671.3692.0Business&G

62、overnmentConsumerAverage Gross Loans and Acceptances($B)Average Customer Deposits2($B)307.2327.1334.2196.8213.5220.460.162.767.087.796.0101.7Q124Q424Q125651.8699.3723.3P&BBCommercialBMO Wealth ManagementBMO Capital MarketsFinancial Results February 25,202511Canadian P&C NIM(%)0.020.010.04Q424Loan Ma

63、rginsDeposit MarginsMix/OtherQ1253.783.85U.S.P&C NIM(%)Net Interest Margin10.030.03Q424Loan Margins Deposit MarginsMix/OtherQ1252.74-0.012.791 Net interest margin(NIM)is the ratio of net interest income(NII)to average earning assets,expressed as a percentage or in basis points.Refer to the Glossary

64、of Financial Terms section of BMOs 2024 Annual MD&A for further information2 Adjusted results and measures are non-GAAP.See slide 38 for more information and slide 39 for adjustments to reported results4,607 4,515 4,726 4,904 5,128 128 14 82 589270 1.841.811.832.131.931.841.821.831.911.930.10.61.11.

65、62.1-800-300 200 700 1,200 1,700 2,200 2,700 3,200 3,700 4,200 4,700 5,200 5,700 6,200 6,700 7,200 7,700Q124Q224Q324Q424Q125NII Adjusting Item($MM)Trading NII($MM)Adjusted NII ex.trading($MM)Reported NIM ex.trading&Insurance(%)Adjusted NIM ex.trading&Insurance(%)222(14)(14)(14)(55)NII($MM)and NIM ex

66、.trading and insurance(%)1NII Adjusting2 Items($MM)Adjusted2 NII ex.trading and insurance($MM)Trading NII($MM)Reported NIM ex.trading and insurance(%)Adjusted2 NIM ex.trading and insurance(%)Adjusted2NII ex.trading and insurance up 11%Y/Y mainly due to strong growth in Canadian P&C,higher NII in BMO

67、 Capital Markets and the stronger U.S.dollar;up 5%Q/QTotal bank NIM ex.trading and insurance increased 2 bps Q/Q due to:Higher margins in our P&C businessesPartially offset by higher low-yielding assets in Corporate Services and lower margins in BMO Capital MarketsFinancial Results February 25,20251

68、2Non-Interest RevenueNon-Interest Revenue by Category($MM)Brokerage,Investment&Custodial FeesBanking&Service Fees344185Q1245991,0951,063371331Q2246221,1451,0523322474606961,1791,0263522661,067Q4248021,2251,0993803621,059Q1253,1153,4593,3983,5193,868Q324TradingBrokerage,Investment&Custodial FeesBanki

69、ng&Service FeesUnderwriting&Advisory FeesOther23%47%30%Securities commissions and feesInvestment management and custodial feesMutual fund revenuesQ125$1,225MM40%33%20%7%Deposit&Payment Service ChargesLending FeesCard FeesFX,other than TradingAdjusted1non-interest revenue up 24%Y/Y(reported up 31%);u

70、p 15%Y/Y excluding trading(reported up 23%)Trading revenue up 75%Y/Y driven by strong client activity across all businessesBrokerage,Investment&Custodial fees up 15%Y/YUnderwriting&advisory fees up 11%Y/YBanking&Service fees up 4%Y/Y,primarily driven by higher deposit&payment service charges and for

71、eign exchange,other than trading,partially offset by lower BA lending feesAdjusted1and reported non-interest revenue up 10%Q/Q;up 9%excluding tradingQ125$1,099MM2,9513,4593,3983,5193,868ReportedBrokerage,Investment&Custodial Fees calculated as the sum of securities commissions and fees,investment ma

72、nagement and custodial fees,and mutual fund revenues;Banking&Service fees calculated as the sum of deposit and payment service charges,lending fees,card fees,and foreign exchange gains,other than trading;Other non-interest revenue calculated as the sum of securities gains,other than trading,insuranc

73、e service results,insurance investment results,share of profit in associates and joint ventures,and other NIR1 Adjusted results and measures are non-GAAP.Refer to slide 38 for more information and slide 39 for adjustments to reported results40%43%41%42%42%of Adjusted1 Revenue38%43%41%39%42%of Report

74、ed RevenueAdjusted1Financial Results February 25,20251370.2 60.7 59.1 49.4 58.6 60.9 58.0 57.3 58.3 56.3 Efficiency Ratio(%)TrendAdjusted1ReportedQ124Q224Q324Q424Q125Non-Interest ExpenseQ124FX ImpactsPerf.Based CompensationConsolidation of U.S.Retirement Benefit PlansUnderlying GrowthEfficiency Savi

75、ngs/Cost synergiesQ1254,7835,1265,2223%2%2%2%Adjusted1(6)%Reported9%Adjusted11%ReportedReportedAdjusted15,3895,7705,427ReportedAdjusted1Y/Y Change in Non-Interest Expense($MM)4%(2)%21 Adjusted results and measures are non-GAAP.Refer to slide 38 and 39 for more information and slide 42 for adjustment

76、s to reported results2 Q124 includes$84MM pre-tax impact from the Consolidation of certain U.S.retirement benefit plans Adjusted1expenses up 9%Y/Y(reported up 1%)Stronger U.S.dollar,higher performance-based compensation and the impact from the consolidation of certain U.S.retirement benefit plans in

77、 the prior year contributed 7%to the increaseAdjusted1efficiency ratio 56.3%(reported 58.6%)improved 460 bps Y/Y(reported improved 1,160 bps)Adjusted1expenses up 7%Q/Q (reported up 23%)Primarily driven by stock-based compensation for employees eligible to retire,seasonality of benefits and impact of

78、 the stronger U.S.dollarFinancial Results February 25,202514Q424Internal capital generationSourcecurrencyRWASharerepurchasesOtherQ125+22 bps13.6%Basis points/numbers may not add due to rounding-4 bps13.6%-13 bpsCommon Equity Tier 1 Ratio(%)+4 bpsQ424Credit RiskMarket RiskFXQ1259.13.1420.8433.90.9RWA

79、($B)Q125 CET1 ratio of 13.6%,relatively unchanged from Q424,primarily reflecting:Internal capital generationLargely offset byHigher source currency RWA1.2 million common shares repurchasedThe impact of FX movements on the CET1 Ratio largely offsetRWA increased primarily reflecting:Higher credit risk

80、 mainly from changes in asset quality and increase in asset sizeHigher market riskFX movementsStrong Q125 CET1 Ratio of 13.6%Financial Results February 25,202515Adjusted1and reported net income down 3%Y/Y Adjusted1 and reported PPPT2up 13%Y/YRevenue up 10%Y/YNII up 11%Y/Y with strong balance growthN

81、IM up 2 bps Y/Y;up 5 bps Q/QNIRup 7%Y/Y due to gains on investment in our commercial business,higher deposit fees,and card-related revenue,partially offset by lower BA lending fees3Adjusted1and reported expenses up 7%Y/Y driven by higher employee-related and technology costsAdjusted1 operating lever

82、age 3.6%(reported 3.7%)Total provision for credit losses$542MM(impaired provision of$491MM and performing provision of$51MM)Average loans up 6%Y/Y and 1%Q/QAverage deposits up 9%Y/Y and flat Q/QCanadian Personal&Commercial BankingRecord revenue and strong PPPT2performanceReportedAdjusted1($MM)Q1 25Y

83、/YQ/QQ1 25Y/YQ/QNet interest income2,38511%4%2,38511%4%Non-interest revenue6807%8%6807%8%Revenue3,06510%4%3,06510%4%Expenses1,2907%(2)%1,2867%(1)%PPPT21,77513%10%1,77913%9%Total PCL(recovery)542$247$(36)542$247$(36)Net Income894(3)%19%897(3)%17%Efficiency Ratio(%)42.1(150)bps(290)bps42.0(140)bps(230

84、)bpsROE(%)21.2(160)bps 310 bps21.3(170)bps 280 bps921 872 914 750894925 877 920 7658972.772.802.772.742.79Q124Q224Q324Q424Q125Reported Net Income($MM)Adjusted Net Income($MM)NIM(%)1 Adjusted results and measures are non-GAAP.Refer to slide 38 and 43 for more information and slide 40 for adjustments

85、to reported results2 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP measures.Refer to slide 38 for more information and slide 41 for calculation of PPPT3 The impact of the transition of bankers acceptances balances to Commercial Banking loans resulted in lower NIR offset in N

86、IINet Income1and NIM TrendsFinancial Results February 25,202516419398344191407475449395242456Reported Net Income($MM)Adjusted Net Income($MM)3.863.763.733.783.85Net Income1and NIM3TrendsAmounts that follow are in U.S.dollars:Adjusted1net income down 4%Y/Y (reported down 3%)Adjusted1PPPT2up 6%Y/Y(rep

87、orted up 8%)Revenue3up 2%Y/YNII3is flat Y/YNIM3down 1 bp Y/Y;up 7 bps Q/QNIR up 11%Y/Y,due to higher lending and deposit fee revenueAdjusted1expenses down 1%Y/Y (reported down 2%),driven by our focus on operational efficiencies,partially offset by higher technology costsAdjusted1operating leverage 3

88、.1%(reported 3.8%)Total provision for credit losses$287MM(impaired provision of$217MM and performing provision of$70MM)Average loans&acceptances down 1%Y/Y (up 2%excluding sale of RV loan portfolio4)and flat Q/QAverage deposits up 5%Y/Y and 1%Q/QU.S.Personal&Commercial BankingGood PPPT2 growth and l

89、ower PCL Q/QQ124Q224Q324Q424Q1251 Adjusted results and measures are non-GAAP.Refer to slide 38 and 43 for more information and slide 40 for adjustments to reported results2 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP measures.Refer to slide 38 for more information and slid

90、e 41 for calculation of PPPT3 Operating group revenue,NII,income taxes and net interest margin are stated on a taxable equivalent basis(teb).The teb adjustment(Q125 US$6MM;Q424 US$6MM;Q124 US$7MM)is offset in Corporate Services.Efficiency ratio and operating leverage are calculated based on revenue(

91、teb)4 Recreational Vehicle(RV)loan portfolio sale in Q124 impact on balances was a reduction of US$3.6B in Q124 versus US$7.2B in Q424 and Q125ReportedAdjusted1(US$MM)Q1 25Y/YQ/QQ1 25Y/YQ/QNet interest income(teb)31,541-%2%1,541-%2%Non-interest revenue33011%8%33011%8%Revenue(teb)31,8712%3%1,8712%3%E

92、xpenses1,075(2)%(2)%1,009(1)%(2)%PPPT27968%12%8626%10%Total PCL(recovery)287$70$(222)287$70$(222)Net Income407(3)%+100%456(4)%88%Net Income(CDE$)5804%+100%6502%99%Efficiency Ratio(%)57.5(220)bps(320)bps54.0(160)bps(290)bpsROE(%)6.2(30)bps330 bps7.0(40)bps320 bpsFinancial Results February 25,202517Ne

93、t Income1TrendsReported AdjustedReported AdjustedReported AdjustedReported AdjustedReported AdjustedQ124Q224Q324Q424Q12518718825225430030227327528628853536868626253538383240241320322362364326328369371Wealth and Asset Management($MM)Insurance($MM)ReportedAdjusted1($MM)Q1 25Y/Y Q/QQ1 25Y/Y Q/Q Wealth&

94、Asset Management 1,45216%4%1,45216%4%Insurance13464%54%13464%54%Revenue1,58619%7%1,58619%7%Expenses1,09510%7%1,09210%7%PPPT249148%6%49448%6%Total PCL(recovery)0$(13)$(34)0$(13)$(34)Net Income36953%13%37153%13%Wealth&Asset Management NI28652%4%28852%5%Insurance NI8357%56%8357%56%AUM($B)45125%7%45125%

95、7%AUA($B)40623%12%40623%12%Efficiency Ratio(%)69.0(600)bps10 bps68.9(600)bps10 bpsROE(%)29.0870 bps240 bps29.2880 bps240 bpsBMO Wealth ManagementStrong results in Wealth&Asset Management and InsuranceAdjusted1 and reported net income up 53%Y/YRevenue up 19%Y/YWealth and Asset Management revenue up 1

96、6%Stronger global markets and net salesHigher brokerage revenueStrong loan and deposit growthInsurance revenue up 64%Y/Y due to favourable market movementsAdjusted1 and reported expenses up 10%Y/Y due to higher employee-related expenses,including higher revenue-based costsAUM up 25%Y/Y and 7%Q/QAUA

97、up 23%Y/Y and 12%Q/Q1 Adjusted results and measures are non-GAAP.Refer to slide 38 and 43 for more information and slide 40 for adjustments to reported results2 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP measures.Refer to slide 38 for more information and slide 41 for cal

98、culation of PPPTFinancial Results February 25,202518BMO Capital MarketsRecord revenue performance driven by strong client activityAdjusted1 net income up 45%Y/Y (reported up 49%)Revenue2 up 30%Y/Y:Global Markets performance up 43%from higher trading revenue across all products driven by strong clien

99、t flowsInvestment and Corporate Banking up 12%due to higher corporate banking-related and debt underwriting revenueAdjusted1 expenses up 14%Y/Y (reported up 12%)mainly due to higher performance-based compensation,technology costs and the stronger U.S.dollarTotal provision for credit losses of$46MM(i

100、mpaired provision of$35MM and performing provision of$11MM)Strong U.S.segment performance with adjusted1 net income up 76%Y/Y(reported up 85%)mainly driven by higher trading revenueReportedAdjusted1($MM)Q1 25Y/Y Q/Q Q1 25Y/YQ/QGlobal Markets1,36143%45%1,36143%45%I&CB71212%8%71212%8%Revenue(teb)22,07

101、330%30%2,07330%30%Expenses1,25512%15%1,25014%18%PPPT381873%59%82367%53%Total PCL(recovery)46$68$(165)46$68$(165)Net Income58749%100+%59145%100+%U.S.Net Income($US)24185%100+%24376%100+%Efficiency Ratio(%)60.5(970)bps(740)bps60.3(870)bps(600)bpsROE(%)16.9530 bps960 bps17.0500 bps920 bps39345938925158

102、7408466394270591Q124Q224Q324Q424Q125Net Income1 TrendsReported Net Income($MM)Adjusted Net Income($MM)1 Adjusted results and measures are non-GAAP.Refer to slide 38 and 43 for more information and slide 40 for adjustments to reported results2 Operating group revenue and income taxes are presented on

103、 a taxable equivalent basis(teb).This teb adjustment(Q125$nil,Q424$2MM;Q124$19MM)is offset in Corporate Services.Efficiency ratio is calculated based on revenue(teb)3 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP measures.Refer to slide 38 for more information and slide 41 f

104、or calculation of PPPTFinancial Results February 25,202519Adjusted1net loss of$220MM and reported net loss of$292MM for the quarter,compared with an adjusted1net loss of$316MM and reported net loss of$822MM in the prior yearAdjusted1results in the current quarter exclude the impact of:$70MM($96MM pr

105、e-tax)aligning accounting policies for employee vacation across legal entities Corporate ServicesReportedAdjusted1($MM)Q1 25Y/YQ/Q Q1 25Y/Y Q/Q Revenue(125)324(605)(125)146(16)Group teb offset2(9)19 2(9)19 2 Total Revenue(teb)2(134)343(603)(134)165(14)Expenses249(351)751 150 29 61 Total PCL(recovery

106、)9(42)7 9(42)7 Net Income(Loss)(292)530(1,013)(220)96(73)1 Adjusted results and measures are non-GAAP.Refer to slide 38 and 43 for more information and slide 40 for adjustments to reported results2 Operating group revenue and income taxes are presented on a taxable equivalent basis(teb).This teb adj

107、ustment is offset in Corporate Services,and total BMO revenue and income taxes are reported on a GAAP basisRisk ReviewFor the Quarter Ended January 31,2025Piyush AgrawalChief Risk OfficerQ1 25Risk Review February 25,202521Q125 PCL ratio on impaired loans2of 50 bps,down 16 bps Q/QLower provisions pri

108、marily from BMO Capital Markets and U.S.Commercial businesses,partially offset by higher provisions in Canadian unsecured consumer lending Provision for Credit Losses(PCL)By Operating Group($MM)Q1 24Q2 24Q3 24Q4 24Q1 25Personal&Business Banking 204247274275324Commercial Banking344879165167Total Cana

109、dian P&C238295353440491Personal&Business Banking 8044697386Commercial Banking103244299362226Total U.S.P&C183288368435312BMO Wealth Management361161BMO Capital Markets11619220335Corporate Services1388141320PCL on Impaired Loans4736588281,107859PCL on Performing Loans1544778416152Total PCL 6277059061,

110、5231,011Provision for Credit Losses(PCL)29415066503844549158 Q1 24 Q2 24 Q3 24 Q4 24Q1 25PCL Ratio3(bps)PCL on Impaired LoansTotal PCL284 246 310 312 367189 412 518 795 492473 658 828 1,107 859 Q1 24 Q2 24 Q3 24 Q4 24Q1 25PCL on Impaired Loans($MM)ConsumerBusiness and Government1 Effective the first

111、 quarter of 2024,provisions for credit losses related to our Canadian and U.S.indirect retail auto financing business,previously reported in Personal and Commercial Banking,are reported in Corporate Services.2 Provision for credit losses on impaired loans(PCL on Impaired Loans)ratio is calculated as

112、 the annualized provision for credit losses on impaired loans as a percentage of average net loans and acceptances3 Provision for credit Losses(Total PCL)Ratio is calculated as the annualized total provision for credit losses as a percentage of average net loans and acceptancesQ124Q224Q324Q424Q125Q1

113、24Q224Q324Q424Q125Risk Review February 25,202522Allowance and Provision on Performing LoansAllowance on Performing Loans(APL)and PCL on Performing Loans(PCL)By Operating Group($MM)Q4 24 APL1Q1 25 PCLQ1 25 Foreign exchange&OtherQ1 25APL1APL to Performing Loans2(bps)Personal&Business Banking 1,29222 1

114、 1,315 60 Commercial Banking37329 1 403 34 Total Canadian P&C1,6655121,71851Personal&Business Banking 46947 53 569 113 Commercial Banking1,61455 39 1,708 104 Total U.S.P&C2,083102922,277106BMO Wealth Management55(1)256 12 BMO Capital Markets34511 19 375 45 Corporate Services79(11)169n.m.Total4,22715

115、21164,49565The$152 million provision for credit losses on performing loans was largely driven by:impact of the uncertain economic environment,including potential tariffs,portfolio credit migration,partially offset by lower balances in certain portfoliosGood coverage on performing loans at 65 bps2n.m

116、.-not meaningful1 Q424 and Q125 included APL on other assets of$22MM and$15MM respectively,and excluded APL on securities of$7MM and$7MM respectively2 Allowance on performing loans over total gross performing loans and acceptances,expressed in basis points55 56 56 62 65 Q124Q224Q324Q424Q125Coverage

117、RatiosAllowance on Performing Loans Ratio(bps)2.39 1.96 1.59 1.38 1.30 Q124Q224Q324Q424Q125Allowance on performing loans over trailing 4-quarter PCLon impaired loansRisk Review February 25,202523Gross Impaired Loans and Formations Gross impaired loans(GIL)ratio3 at 100 bps increased from last quarte

118、r primarily due to higher impaired loans in U.S.Commercial Banking,as well as the impact of the stronger U.S.dollarBy Industry($MM,as at Q1 25)Formations Gross Impaired LoansCA&OtherU.S.TotalCA&Other1U.S.TotalTotal Consumer461845459394331,372Service Industries1643174815219391,460Manufacturing2226228

119、4167814981Commercial Real Estate106190296291622913Retail Trade27161188226386612Wholesale Trade159154313221353574Transportation94554196214410Agriculture238410794132226Construction(non-real estate)381147125172Oil and Gas000134Other Business and Government278794100130230Total Business and Government520

120、1,3081,8281,8643,7185,582Total Bank9811,3922,3732,8034,1516,954Totals may not add due to rounding1 Total Business and Government includes gross impaired loans(GIL)of$2MM from other countries2 Other Business and Government includes industry segments that are each 1%of total GIL3 Gross impaired loans

121、over total gross loan and acceptances,expressed in basis points1,079 1,122 1,194 1,234 1,372 3,180 4,138 4,847 4,609 5,582 4,259 5,260 6,041 5,843 6,954 65 79 89 86 100-100-50-50 10001,0002,0003,0004,0005,0006,0007,0008,0009,00010,000Q124Q224Q324Q424Q125Gross Impaired Loans($MM)Total BankBusiness an

122、d GovernmentGIL Ratio441 380 419 466 545 925 1,608 1,428 1,752 1,828 1,366 1,988 1,847 2,218 2,373 Q124Q224Q324Q424Q125Formations($MM)ConsumerBusiness and GovernmentRisk Review February 25,202524AppendixRisk Review February 25,202525Loan Portfolio OverviewWell-diversified by geography and industryGr

123、oss Loans&Acceptances($B)Impaired PCL($MM)By Industry(As at Q1 25)Canada&Other1U.S.Total BMOCanada&Other1U.S.Total BMOResidential Mortgages160.134.2194.314115Consumer Instalment and Other Personal69.323.893.112539164Credit Cards12.21.313.516226188Total Consumer241.659.3300.930166367Commercial Real E

124、state43.334.978.232225Financial19.455.775.1033Service Industries28.737.466.15063113Manufacturing9.531.841.33384117Retail Trade17.615.533.1114253Wholesale Trade7.118.725.8341549Agriculture13.85.218.97-25Transportation4.910.014.9143044Financing Products0.08.78.7000Construction(non-real estate)2.64.67.

125、2233760Utilities3.53.77.1000Oil and Gas3.40.74.1000Other Business and Government29.92.812.716723Total Business&Government163.5229.6393.2191301492Total Gross Loans&Acceptances 405.1288.9694.0492367859Totals may not add due to rounding1 Gross Loans&Acceptances Canada&Other includes approx.$12.6B from

126、other countries and Impaired PCL Canada&Other includes approx.$0MM from other countries2 Other Business and Government includes all industry segments that are each 1%of total loansGross Loans&Acceptances Gross Loans&Acceptances up 1.7%Q/Q,or flat Q/Q excluding the impact of the stronger U.S.dollar59

127、%32%9%Canada&Other Countries21%63%16%U.S.P&C/BMO Wealth Management-ConsumerP&C/BMO Wealth Management-Business&GovernmentBMO Capital MarketsRisk Review February 25,202526Gross Loans&AcceptancesBy Industry($B,as at Q1 25)Canada&OtherU.S.Total BMO%of TotalTotal Consumer241.659.3300.943%Total Business a

128、nd Government163.5229.6393.257%Total Gross Loans&Acceptances 405.1288.9694.0100%Business&Government Portfolio OverviewB&G Rating DistributionQ125$393.1BB&G Portfolio Industry DiversificationTotals may not add due to rounding1 Other includes Oil&Gas,Mining,Government,Communications and Forest Product

129、s and OtherCommercial Real Estate,20%Financial,19%Service Industries,17%Manufacturing,11%Retail Trade,8%Wholesale Trade,7%Agriculture,5%Transportation,4%Other,3%Financing Products,2%Construction,2%Utilities,2%Q125$393.2B50%58%60%55%51%50%46%39%37%41%42%43%3%2%2%3%6%6%1%1%0%1%1%1%20202021202220232024

130、Q1 F25Investment GradeSub-Investment GradeWatchlistImpairedB&G portfolio is well-diversified by industry and geography58%U.S.and 42%Canada&Other50%of portfolio is investment grade-ratedPace of migration to watchlist slowed in Q125Q125Risk Review February 25,202527Canada&Others 55%U.S.45%$78.2BOffice

131、 CitiesGL&A($B)Sacramento,CA0.42 Los Angeles,CA0.39 Bellevue,WA0.29 Burnaby,BC0.19 Chicago,IL0.19 Top 5 Cities Urban/Suburban Office$7.6BCRE by Geography122CRE diversification by property type($B)Property TypeCanada&OtherU.S.Total Multi-Residential17.88.526.3Industrial6.86.613.4Single Family Residen

132、ce7.21.89.0Office2.25.47.6Retail3.43.87.2Hospitality,Healthcare&Diversified REITs0.42.83.2Mixed Use2.50.63.1Other33.05.48.4Total Commercial Real Estate43.334.978.2Total Gross Loans and Acceptances405.1288.9694.0Totals may not add due to rounding1 Based on the location of the collateral or the borrow

133、er for REITs2 Other U.S.and Other Canada includes geographies that are each less than 2%of the total CRE GL&A3 Other Property Type includes Commercial Real Estate loans for self-storage,parking,marinas and other minor sub-categoriesCommercial Real Estate(CRE)portfolio at$78.2B represents 11%of Total

134、 Bank Gross Loans&Acceptances(GL&A)Q/Q increase primarily driven by the stronger U.S.dollar and growth in Canadian Multi-ResidentialPortfolio is well-diversified across businesses,property types and geographies Well-managed with consistent and conservative underwriting standards;investment grade(44%

135、),watchlist(8%)and impaired(1%)Commercial Real EstateUrban31%Suburban40%REIT9%Medical Office 20%Ontario 27%British Columbia 12%Quebec 7%Alberta 4%Nova Scotia 3%Other Canada 2%California 10%Texas 5%New York 3%Illinois 3%Florida 2%Colorado 2%Other U.S.20%2Q125$7.6BQ125$7.6BQ125$78.2BRisk Review Februa

136、ry 25,202528Canadian Consumer Portfolio Overview90+day delinquency(%)Q124Q224Q324Q424Q125Residential Mortgages0.17%0.20%0.24%0.25%0.29%Personal Lending0.44%0.43%0.43%0.47%0.52%Credit Cards0.98%1.02%1.08%1.14%1.29%Total Consumer0.29%0.31%0.34%0.36%0.41%Canadian Consumer PortfolioResidential Mortgages

137、$160.1B66%Personal Lending$69.3B29%Credit Cards$12.2B 5%Q125$241.6BImpaired PCL1,2(%)Q124Q224Q324Q424Q125Residential Mortgages0.02%0.02%0.03%0.03%0.03%Personal Lending0.54%0.59%0.64%0.64%0.72%Credit Cards3.24%4.68%4.41%4.44%5.28%Total Consumer0.33%0.43%0.44%0.44%0.50%1 PCL ratios by segment are calc

138、ulated as the annualized provision for credit losses on impaired loans as a percentage of gross loans and acceptances at the end of the period2 Certain comparative figures have been reclassified to conform with the current periods presentationTotal Canadian Consumer lending portfolio balances of$241

139、.6B in Q125,represent 35%of total loans89%of the portfolio is secured90+day delinquency rate for the portfolio at 41 bpsAverage FICO score for the portfolio remains strong at 785Unsecured consumer delinquencies and loss rates continued to trend upDue to prolonged higher interest rates,inflation and

140、unemployment levels,and elevated consumer insolvenciesRisk Review February 25,202529Canadian Residential Secured Lending Portfolio OverviewAvg.LTV1 UninsuredAtlanticQuebecOntarioAlbertaBritish ColumbiaCanada OtherTotal CanadaMortgage-Portfolio56%56%61%56%53%56%58%-Origination69%71%71%73%68%72%70%HEL

141、OC-Portfolio46%48%47%47%46%46%47%-Origination63%67%62%60%61%67%62%40%28%14%46%11%48%47%43%62%39%63%36%6%6%6%6%7%6%7%23%18%9%19%10%$8.2$31.5$20.9$39.9$4.5 Atlantic Quebec Ontario AlbertaBritishColumbiaCanadaOtherResidential-Secured Lending by Region($210.0B)Amortizing HELOCRevolving HELOCUninsured Mo

142、rtgagesInsured Mortgages$105.0$13.57%$36.417%$42.520%$117.656%HELOC RevolvingHELOC AmortizingInsured MortgagesUninsured MortgagesQ125$210.0B1 Loan-to-Value(LTV)is the ratio of outstanding mortgage balance or the HELOC authorization to the original property value indexed using Teranet data.Portfolio

143、LTV is the combination of each individual mortgage or HELOC LTV weighted by the mortgage balance or HELOC authorization.Originations represent accounts originated in the quarterTotal Canadian residential-secured lending portfolio at$210.0B,representing 30%of total loansLTV1on uninsured of 53%90+day

144、delinquency rate for RESL remains good at 28 bps;loss rates for the trailing 4-quarter period were 2 bps 4%of uninsured RESL balances are to borrowers with 70%LTV1Residential mortgage portfolio of$160.1B27%of portfolio insuredLTV1on uninsured of 58%64%of the mortgage portfolio has an effective remai

145、ning amortization of 25 years or lessHELOC portfolio of$49.9B outstanding of which 73%is amortizingCondo RESL portfolio is$30.5B with 20%insuredOwner-occupied represents 84%of total RESL portfolioRisk Review February 25,202530Canadian Mortgage Portfolio Profile19.239.329.313.88.81.912.121.35.39.1F25

146、F26F27F28F29+Mortgage Maturity Schedule($160.1B:69%fixed rate;31%variable rate)FixedVariable51.450.619.117.921.1F25F26F27F28F29+Insured%35%26%21%29%32%Average LTV2 uninsured%44%54%65%63%61%Payment change at renewal:(for illustration purposes)Average monthly payment change($)3$150$200$150-$50-$50Aver

147、age monthly payment change(%)39%10%6%-2%-1%Renewal risk has decreased significantly due to lower interest rates and proactive customer outreachOnly 2%of mortgages are in negative amortization1Over 30%of mortgages renewing in Q125 experienced a payment decreaseCustomers renewing at higher rates demon

148、strate capacity to absorb higher payments20%of mortgage balances are renewing in the next 12 monthsAverage FICO score of 799 and uninsured LTV2of 45%1 Variable rate mortgages in negative amortization,with all of the contractual payments currently being applied to interest,and the portion of interest

149、 due that is not met by each payment is added to the principal2 Current average loan-to-value(LTV).LTV is the ratio of outstanding mortgage balance to the original property value indexed using Teranet data.LTV is the combination of each individual mortgage LTV weighted by the mortgage balance3 The a

150、verage payment change reflects an assumed interest rate of 4.50%at renewal and includes regular payments and additional pre-payments made to dateRisk Review February 25,202531Trading-Related Net Revenue and Value-at-Risk(60)(40)(20)0204060November 1,2024 to January 31,2025(pre-tax basis and in milli

151、ons of Canadian dollars)Daily Revenue Total Trading VaRStrategic Highlights February 25,202532319348Q124Q125Self-serve Transactions3(%)Delivering on our Digital First agenda,powered by AI,data and tech modernizationDriving tangible customer and business valueBeing recognized as an industry leader an

152、d innovator+4%91%Digital SalesGrowth4(%)Active Digital Users,Retail2(000)Active Digital Users,Commercial Banking5(000)+9%+6%Driving tangible customer and business value through AI and advanced analytics,including1:-3MM AI-enabled customer interactions with BMO Assist-200MM AI-powered BMO Insights en

153、abling real financial progressLaunched first-of-its-kind external Gen AI-powered digital assistant to Canadian Individual Life advisors,streamlining the underwriting processJoined IBMs Quantum Network to accelerate innovation and deploy advanced quantum powered solutionsLaunched BMO Sync in Online B

154、anking for Business,which seamlessly integrates banking with clients Enterprise Resource Planning and accounting systemsRanked#1 in satisfaction in the J.D.Power 2024 Canada Wealth Management Digital Experience Study6Won Editors Choice Award at Banking Tech Awards 2024;BMO was recognized fortop-tier

155、 customer experience,and a differentiated approach to innovationRecognized as one of the leaders in the Financial Fitness Category within Javelins 2024 Online Banking ScorecardBMOs innovation approach and outcomes acknowledged by several Digital Banker awards:-Best Gen AI Retail Operations Initiativ

156、e(InnoV8 Customer Feedback Assist)-Best Payments Innovation(BMO SplitShare)-Digital Lending Product of the year(BMO PaySmart)-Outstanding Customer Service Innovation(Digital Card Controls Suite)-“Best New Product Launch”for Extend for BMO virtual card in commercial bankingRed Dot Award:Design Concep

157、t 2024 for re-imagined digital banking experience for small and medium enterprises1 Within the last 12 months2 Active digital users is number of retail deposit customers in North America that logged into online or mobile in the last 90 days3 Self-serve transactions are transactions that occur in onl

158、ine,mobile,ATM,telephone banking;Nov 2024 Jan 20254 Digital sales is 12 month rolling average for the 12-months preceding the end of the fiscal quarter and include chequing,savings,credit card,loans,mortgage,overdraft(CAD)and CD,MM(US)5 On-Line Business Banking(OLBB)clients in North American commerc

159、ial,corporate and business banking6 our Digital First strategyFinancial Results February 25,202533109.4 114.9117.512.8 13.914.251.9 53.153.36.8 7.16.9136.5 143.9145.7Q124Q424Q125CommercialCredit CardsConsumer LoansBusiness BankingResidential Mortgages189.2 100.5100.9199.6 211.9213.1Q124Q424Q125Comme

160、rcialPersonal&Business BankingAverage Gross Loans&Acceptances($B)Average Deposits($B)Canadian Personal&Commercial Banking BalancesAverage loans&acceptances up 6%Y/Y and 1%Q/QResidential Mortgages,including amortizing HELOC up 6%Y/Y and 1%Q/QCards up 11%Y/Y and 2%Q/QBusiness Banking up 3%Y/Y and down

161、 2%Q/QCommercial1up 7%Y/Y and 2%Q/QAverage deposits up 9%Y/Y and flat Q/QPersonal&Business Banking up 7%Y/Y and 1%Q/QChequing and Savings up 3%Y/Y and 3%Q/QTerm up 10%Y/Y and down 1%Q/QCommercial up 13%Y/Y and flat Q/Q288.8314.0312.5Average Gross Loans&Acceptances($B)317.3333.0337.61 Commercial lend

162、ing excludes commercial and small business cards.Commercial and small business cards balances represented 13%of total credit card portfolio in Q125,Q424 and Q124Financial Results February 25,202534117.4115.8115.934.634.5 35.0 Q124Q424Q125Average Gross Loans&Acceptances(US$B)CommercialPersonal&Busine

163、ss Banking150.3152.0150.980.482.883.680.384.484.7Q124Q424Q125Average Deposits(US$B)CommercialPersonal&Business Banking160.7167.2168.3Amounts on this slide are in U.S.dollars1Average loans&acceptances down 1%Y/Y(up 2%excluding sale of RV loan portfolio2)and flat Q/QCommercial down 1%Y/Y and flat Q/QP

164、ersonal&Business Banking up 1%Y/Y and 2%Q/QAverage deposits up 5%Y/Y and 1%Q/QCommercial up 4%Y/Y and 1%Q/Q Personal&Business Banking up 5%Y/Y and flat Q/QU.S.Personal&Commercial Banking BalancesPrior period amounts have been reclassified to conform with the current period presentation1 Average FX r

165、ates(CDN/US dollar):Q125 1.4303;Q424 1.3641;and Q124 1.33922 Recreational Vehicle(RV)loan portfolio sale in Q124 impact on balances was a reduction of US$3.6B in Q124 versus US$7.2B in Q424 and Q125Financial Results February 25,202535Canadian and U.S.deposit trendsU.S.P&C and BMO Wealth Management d

166、epositsUS$B,average balances Chequing&SavingsCommercialMoney Market&CDsCanadian P&C and BMO Wealth Management depositsCDE$B,average balancesDemand DepositsP&BB and BMO Wealth ManagementCommercialTerm DepositsP&BB and BMO Wealth ManagementQ125 U.S.deposits increased 5%Y/Y as we continued to grow new

167、customers and deposits through competitive tools,products and channelsQ125 Canadian deposits grew 9%Y/Y mainly driven by higher demand deposits across both retail and commercial customers with continued benefit from new customer acquisition1%Q/Q growth reflecting higher demand deposits across both r

168、etail and commercial customers,and declining term deposits43%48%49%39%34%35%33%34%34%26%25%35%39%38%39%38%20%24%24%20%21%20%21%22%4%2%3%6%7%7%7%5%238266290318347333359364F20F21F22F23F24Q124Q424Q12519%21%23%25%23%24%22%22%34%26%24%26%31%29%32%32%36%43%43%33%27%28%26%26%11%11%10%16%19%19%20%20%1051181

169、20159175172179180F20F21F22F23F24Q124Q424Q125Financial Results February 25,2025363.56%3.72%3.75%3.40%3.10%115 119 112 130 189 479 485 509 507 524 652 668 685 699 723 1,246 1,272 1,306 1,336 1,436 Q124Q224Q324Q424Q125Average Liabilities($B)and Costs2(%)Customer DepositsOther Interest Bearing Liabiliti

170、es4Other Non-Interest Bearing Liabilities2.94%3.08%3.14%3.02%2.68%5.25%5.52%5.41%4.80%4.81%Cost on Total Liabilities%in above charts indicate cost on liability balancePrior period amounts have been reclassified to conform with the current period presentation1 Asset yield is calculated as total inter

171、est income as a percentage of average earnings assets2 Liabilities cost is calculated as total interest expense as a percentage of average liabilities3 Other interest bearing assets balances include deposits with other banks,securities,securities borrowed or purchased under resale agreements and oth

172、er interest bearing assets.Yield on other interest bearing assets is calculated as interest and dividend income on deposits with other banks,securities,securities borrowed or purchased under resale agreements and other interest bearing assets as a percentage of associated average balances4 Other int

173、erest bearing liabilities balances include wholesale funding,securities sold but not yet purchased and securities lent or sold,subordinated debt and other interest bearing liabilities.Cost on other interest bearing liabilities is calculated as interest expense on wholesale funding,securities sold bu

174、t not yet purchased and securities lent or sold,subordinated debt and other interest bearing liabilities as a percentage of associated average balancesAsset Yields1and Liabilities Costs25.28%5.40%5.40%5.27%5.00%547 565 592 602 628 647 652 667 671 692 1,1941,2171,2591,2731,320Q124Q224Q324Q424Q125Gros

175、s LoansOther Interest Bearing Assets3Average Earning Assets($B)and Yield1(%)6.04%6.08%6.12%6.06%5.81%4.38%4.62%4.59%4.39%4.11%Yield on Total Average Earning Assets%in above charts indicate yield on asset balanceFinancial Results February 25,202537Earnings benefit/exposure to an incremental+/-100 bps

176、 rate shock reflects a relatively neutral positioningBMO strategy emphasizes margin stability;non rate-sensitive deposits and the balance sheets net equity position are consistently reinvested into intermediate tenors through the cycleStrong liquidity position is supporting the banks ability to mana

177、ge deposit pricingEarnings sensitivities over the next 12 months1Long-term investment rates decreased Q/Q for CAD and increased for USD;forecast remains higher than historical levels and continue to support NIMQ125 Pre-Tax CDE($MM)+100 bps-100 bps-25 bps-25 bps short rateCanada272(38)(11)11U.S.285(1

178、98)(73)(51)Total357(236)(84)(40)Interest Rate SensitivityThis slide contains forward-looking statements.Refer to the Caution Regarding Forward-Looking Statements on slide 21 Sensitivities assumes immediate and sustained parallel shift in interest rates and using a constant balance sheet except for t

179、he-25bps short rate scenario where only short-term rates are shocked.For more details see the Structural(Non-Trading)Market Risk section of BMOs First Quarter 2025 MD&A2 Includes Canadian dollar and other currencies3 Chart displays historical Canadian Overnight Repo Rate Average(CORRA)swap rates and

180、 Secured Overnight Financing Rate(SOFR)swap ratesSwap Rates3Historic Actual RatesImpliedForward RatesFinancial Results February 25,202538Non-GAAP and Other Financial MeasuresResults and measures in this document are presented on a generally accepted accounting principles(GAAP)basis.Unless otherwise

181、indicated,all amounts are in Canadian dollars and have been derived from our audited annual consolidated financial statements,prepared in accordance with International Financial Reporting Standards(IFRS),as issued by the International Accounting Standards Board.References to GAAP mean IFRS.We use a

182、number of financial measures to assess our performance,as well as the performance of our operating segments,including amounts,measures and ratios that are presented on a non-GAAP basis,as described below.We believe that these non-GAAP amounts,measures and ratios,read together with our GAAP results,p

183、rovide readers with a better understanding of how management assesses results.Management considers both reported and adjusted results and measures to be useful in assessing underlying ongoing business performance.Adjustedresults and measures remove certain specified items from revenue,non-interest e

184、xpense and income taxes,as detailed on page 39.Adjusted results and measures presented in this document are non-GAAP.Presenting results on both a reported basis and an adjusted basis permits readers to assess the impact of certain items on results for the periods presented,and to better assess resul

185、ts excluding those items that may not be reflective of ongoing business performance.As such,the presentation may facilitate readers analysis of trends.Except as otherwise noted,managements discussion of changes in reported results in this document applies equally to changes in the corresponding adju

186、sted results.Non-GAAP amounts,measures and ratios do not have standardized meanings under GAAP.They are unlikely to be comparable to similar measures presented by other companies and should not be viewed in isolation from,or as a substitute for,GAAP results.Examples of non-GAAP amounts,measures or r

187、atios include:pre-provision pre-tax income,tangible common equity,amounts presented net of applicable taxes,adjusted net income,revenues,non-interest expenses,earnings per share,return on equity,return on tangible common equity,and adjusted efficiency,operating leverage,growth rates and other measur

188、es calculated using adjusted results,which exclude the impact of certain items,such as acquisition and integration costs and amortization of acquisition-related intangible assets.BMO provides supplemental information on combined operating segments to facilitate comparisons to peers.Certain informati

189、on contained in BMOs Managements Discussion and Analysis(MD&A)as at February 24,2025 for the period ended January 31,2025(First Quarter 2025 MD&A)is incorporated by reference into this document.Quantitative reconciliations of non-GAAP and other financial measures to the most directly comparable fina

190、ncial measures in BMOs financial statements for the period ended January 31,2025,an explanation of how non-GAAP and other financial measures provide useful information to investors and any additional purposes for which management uses such measures,can be found in the Non-GAAP and Other Financial Me

191、asures section of the First Quarter 2025 MD&A.For further information regarding the composition of our supplementary financial measures,refer to the Glossary of Financial Terms section of First Quarter 2025 MD&A,which is available online at and at www.sedarplus.ca.Certain comparative figures have be

192、en reclassified to conform with the current years presentationFinancial Results February 25,202539Adjusting ItemsAdjusted results in the current quarter,prior year and prior quarter excluded the following items:Impact of aligning accounting policies for employee vacation across legal entities of$70

193、million($96 million pre-tax)in Q1-2025,recorded in non-interest expense in Corporate Services.Amortization of acquisition-related intangible assets and any impairments of$79 million($106 million pre-tax)in Q1-2025,recorded in non-interest expense in the related operating group.Prior periods included

194、$84 million($112 million pre-tax)in Q1-2024 and$92 million($124 million pre-tax)in Q4-2024.Acquisition and integration costs of$7 million($10 million pre-tax)in Q1-2025,recorded in non-interest expense in the related operating group.Prior periods included$57 million($76 million pre-tax)in Q1-2024 an

195、d$27 million($35 million pre-tax)in Q4-2024.Impact of a U.S.Federal Deposit Insurance Corporate(FDIC)special assessment partial reversal of$5 million($7 million pre-tax)in Q1-2025,recorded in non-interest expense in Corporate Services.Prior periods included a$313 million($417 million pre-tax)expense

196、 in Q1-2024,and an$11 million($14 million pre-tax)partial reversal of non-interest expense in Q4-2024The impact of a lawsuit associated with a predecessor bank,M&I Marshall and Ilsley Bank,recorded in Corporate Services.Prior periods included$11 million($15 million pre-tax)in Q1-2024,comprising inte

197、rest expense of$14 million and non-interest expense of$1 million,and Q4-2024 included the reversal of a fiscal 2022 legal provision,including accrued interest of$870 million($1,183 million pre-tax),comprising a reversal of interest expense of$589 million and a reversal of non-interest expense of$594

198、 million.For further information,refer to the Provisions and Contingent Liabilities section in Note 25 of the audited annual consolidated financial statements of BMOs 2024 Annual Report.Net accounting loss of$136 million($164 million pre-tax)on the sale of a portfolio of recreational vehicle loans r

199、elated to balance sheet optimization,recorded in non-interest revenue in Corporate Services in Q1-2024Adjusted results and measures are non-GAAP.For further information refer to slide 38 and the Non-GAAP and Other Financial Measures section of BMOs First Quarter 2025 MD&A(Canadian$in millions,except

200、 as noted)Q1 25Q4 24Q1 24Reported ResultsNet interest income5,3985,4384,721Non-interest revenue3,8683,5192,951Revenue9,2668,9577,672Provision for credit losses(1,011)(1,523)(627)Non-interest expense(5,427)(4,427)(5,389)Income before income taxes2,8283,0071,656Provision for income taxes(690)(703)(364

201、)Net income2,1382,3041,292Diluted EPS($)2.832.941.73Adjusting Items(Pre-tax)Legal provision/reversal(including related interest expense and legal fees)589(14)Impact of loan portfolio sale(164)Impact of adjusting items on revenue(pre-tax)589(14)Acquisition and integration costs(10)(35)(76)Amortizatio

202、n of acquisition-related intangible assets(106)(124)(112)Legal provision/reversal(including related interest expense and legal fees)594(1)FDIC special assessment714(417)Impact of alignment of accounting policies(96)Impact of adjusting items on non-interest expense(pre-tax)(205)449(606)Impact of adju

203、sting items on reported net income(pre-tax)(205)1,038(784)Adjusting Items(After-tax)Legal provision/reversal(including related interest expense and legal fees)433(10)Impact of loan portfolio sale(136)Impact of adjusting items on revenue(after-tax)433(146)Acquisition and integration costs(7)(27)(57)A

204、mortization of acquisition-related intangible assets(79)(92)(84)Legal provision/reversal(including related interest expense and legal fees)437(1)FDIC special assessment511(313)Impact of alignment of accounting policies(70)Impact of adjusting items on non-interest expense(after-tax)(151)329(455)Impac

205、t of adjusting items on reported net income(after-tax)(151)762(601)Impact on diluted EPS($)(0.21)1.04(0.83)Adjusted ResultsNet interest income5,3984,8494,735Non-interest revenue3,8683,5193,115Revenue9,2668,3687,850Provision for credit losses(1,011)(1,523)(627)Non-interest expense(5,222)(4,876)(4,783

206、)Income before income taxes3,0331,9692,440Provision for income taxes(744)(427)(547)Net income2,2891,5421,893Diluted EPS($)3.041.902.56Non-GAAP and Other Financial MeasuresFinancial Results February 25,202540Summary of Reported and Adjusted Results by Operating Group(Canadian$in millions unless other

207、wise stated)Q1 25Q4 24Q3 24Q2 24Q1 24Total BankReported Net Income2,1382,3041,8651,8661,292Acquisition and integration costs727192657Amortization of acquisition-related intangible assets7992797984Legal provision/reversal(including related interest expense and legal fees)(870)131211Net loss on RV loa

208、n portfolio sale136FDIC special assessment(5)(11)550313Impact of alignment of accounting policies70Adjusted Net Income2,2891,5421,9812,0331,893U.S.Segment(USD)Reported Net Income639930439559184Acquisition and integration costs59111739Amortization of acquisition-related intangible assets5254555459Leg

209、al provision/reversal(including related interest expense and legal fees)(643)1098Net loss on RV loan portfolio sale102FDIC special assessment(4)(8)337231Impact of alignment of accounting policies25Adjusted Net Income717342518676623CanadianReported Net Income894750914872921P&C BankingAcquisition and

210、integration costs12221Amortization of acquisition-related intangible assets33433Adjusted Net Income897765920877925U.S.P&C BankingReported Net Income407191344398419Amortization of acquisition-related intangible assets4951515156(USD)Adjusted Net Income456242395449475BMO Wealth ManagementReported Net I

211、ncome369326362320240Amortization of acquisition-related intangible assets22221Adjusted Net Income371328364322241BMO Capital MarketsReported Net Income587251389459393Acquisition and integration costs21210Amortization of acquisition-related intangible assets417455Adjusted Net Income591270394466408Corp

212、orate ServicesReported Net Income(292)721(270)(328)(822)Acquisition and integration costs713162246Legal provision/reversal(including related interest expense and legal fees)(870)131211Net loss on RV loan portfolio sale136FDIC special assessment(5)(11)550313Impact of alignment of accounting policies7

213、0Adjusted Net Income(220)(147)(236)(244)(316)Adjusted results and measures are non-GAAP.Refer to the Non-GAAP and Other Financial Measures table on slide 39 for details on adjusting items,and the Non-GAAP and Other Financial Measures section of BMOs First Quarter 2025 MD&A for further informationU.S

214、.segment comprises reported and adjusted results recorded in U.S.P&C and our U.S.operations in BMO Wealth Management,BMO Capital Markets and Corporate Services.Acquisition and integration costs are recorded in non-interest expense in the related operating groups.Expenses related to the acquisition o

215、f Bank of the West were recorded in Corporate Services;expensesrelated to the acquisition of Clearpool and Radicle were recorded in BMO Capital Markets;and expense related to the acquisition of AIR MILES were recorded in Canadian P&C.Financial Results February 25,202541Pre-Provision,Pre-Tax Earnings

216、(PPPT)Reconciliation(Canadian$in millions unless otherwise stated)Q1 25Q4 24Q3 24Q2 24Q1 24Total BankReported Income before taxes2,8283,0072,4472,4251,656Total provision for(recovery of)credit losses1,0111,523906705627Reported Pre-Provision,Pre-Tax Earnings(PPPT)3,8394,5303,3533,1302,283Acquisition

217、and integration costs1035253676Amortization of acquisition-related intangible assets106124107107112Legal provision/reversal(including related interest expense and legal fees)(1,183)181515FDIC special assessment(7)(14)667417Impact of alignment of accounting policies96Net loss on RV loan portfolio sal

218、e164Adjusted Pre-Provision,Pre-Tax Earnings(PPPT)4,0443,4923,5093,3553,067U.S.SegmentReported Income(loss)before taxes7971,177531701207(USD)Total provision for(recovery of)credit losses311646364223226Reported Pre-Provision,Pre-Tax Earnings(PPPT)1,1081,823895924433Acquisition and integration costs713

219、152252Amortization of acquisition-related intangible assets7073737379Legal provision/reversal(including related interest expense and legal fees)(875)131211FDIC special assessment(5)(10)449308Impact of alignment of accounting policies34Net loss on RV loan portfolio sale122Adjusted Pre-Provision,Pre-T

220、ax Earnings(PPPT)1,2141,0241,0001,0801,005CanadianReported Income before taxes1,2331,0371,2601,2051,273P&C BankingTotal provision for(recovery of)credit losses542578388398295Reported Pre-Provision,Pre-Tax Earnings(PPPT)1,7751,6151,6481,6031,568Amortization of acquisition-related intangible assets163

221、31Acquisition and integration costs44554Adjusted Pre-Provision,Pre-Tax Earnings(PPPT)1,7791,6351,6561,6111,573U.S.P&CReported Income before taxes509203414489522BankingTotal provision for(recovery of)credit losses287509286206217(USD)Reported Pre-Provision,Pre-Tax Earnings(PPPT)796712700695739Amortiza

222、tion of acquisition-related intangible assets6668696875Adjusted Pre-Provision,Pre-Tax Earnings(PPPT)862780769763814BMO WealthReported Income before taxes491428479422318ManagementTotal provision for(recovery of)credit losses34(9)(7)13Reported Pre-Provision,Pre-Tax Earnings(PPPT)491462470415331Amortiz

223、ation of acquisition-related intangible assets32331Adjusted Pre-Provision,Pre-Tax Earnings(PPPT)494464473418332BMO CapitalReported Income before taxes772302491581495MarketsTotal provision for(recovery of)credit losses4621112852(22)Reported Pre-Provision,Pre-Tax Earnings(PPPT)818513619633473Acquisiti

224、on and integration costs21314Amortization of acquisition-related intangible assets524567Adjusted Pre-Provision,Pre-Tax Earnings(PPPT)823539625642494Reported and adjusted pre-provision pre-tax earnings(PPPT)are non-GAAP measures.Refer to slide 38 for more informationAdjusted results and measures are

225、non-GAAP.Refer to the Non-GAAP and Other Financial Measures table on slide 39 for details on adjusting items,and the Non-GAAP and Other Financial Measures section of BMOs First Quarter 2025 MD&A for further informationFinancial Results February 25,202542Revenue,Non-Interest Expense and Efficiency Ra

226、tio Reconciliation(Canadian$in millions unless otherwise stated)Q1 25Q4 24Q3 24Q2 24Q1 24Total BankReported Revenue9,2668,9578,1927,9747,672Legal provision/reversal(including related interest expense and legal fees)(589)141414Net loss on RV loan portfolio sale164Adjusted Revenue9,2668,3688,2067,9887

227、,850Reported Expenses5,4274,4274,8394,8445,389Acquisition and integration costs(10)(35)(25)(36)(76)Amortization of acquisition-related intangible assets(106)(124)(107)(107)(112)Legal provision/reversal(including related interest expense and legal fees)594(4)(1)(1)FDIC special assessment714(6)(67)(41

228、7)Impact of alignment of accounting policies(96)Adjusted Expenses5,2224,8764,6974,6334,783Reported Efficiency Ratio58.6%49.4%59.1%60.7%70.2%Adjusted Efficiency Ratio56.3%58.3%57.3%58.0%60.9%U.S.SegmentReported Revenue2,8313,0332,5272,5712,512Legal provision/reversal(including related interest expens

229、e and legal fees)(436)101110Net loss on RV loan portfolio sale122Adjusted Revenue2,8312,5972,5372,5822,644Reported Expenses1,7231,2101,6321,6472,079Acquisition and integration costs(7)(13)(15)(22)(52)Amortization of acquisition-related intangible assets(70)(73)(73)(73)(79)Legal provision/reversal(in

230、cluding related interest expense and legal fees)439(3)(1)(1)FDIC special assessment510(4)(49)(308)Impact of alignment of accounting policies(34)Adjusted Expenses1,6171,5731,5371,5021,639Reported Efficiency Ratio60.8%39.9%64.6%64.0%82.8%Adjusted Efficiency Ratio57.1%60.6%60.6%58.2%62.0%Adjusted resul

231、ts and measures are non-GAAP.Refer to the Non-GAAP and Other Financial Measures table on slide 39 for details on adjusting items,and the Non-GAAP and Other Financial Measures sections of BMOs First Quarter 2025 MD&A for further informationFinancial Results February 25,202543Summary of Reported and A

232、djusted Results by Operating Group(Canadian$in millions unless otherwise stated)ReportedAdjustedQ1 25Q4 24Q1 24Q1 25Q4 24Q1 24Total BankRevenue9,2668,9577,6729,2668,3687,850Expenses5,4274,4275,3895,2224,8764,783Pre-Provision,Pre-tax Earnings13,8394,5302,2834,0443,4923,067Total PCL1,0111,5236271,0111

233、,523627Net Income2,1382,3041,2922,2891,5421,893U.S.Segment Net Income(US$)639930184717342623Diluted EPS($)2.832.941.733.041.902.56Efficiency Ratio(%)58.649.470.256.358.360.9ROE(%)10.611.47.211.37.410.6ROTCE2(%)14.415.610.314.99.714.3Canadian P&C BankingNet Interest Income2,3852,3042,1412,3852,3042,1

234、41Non-Interest Revenue680630637680630637Revenue3,0652,9342,7783,0652,9342,778Expenses1,2901,3191,2101,2861,2991,205Pre-Provision,Pre-tax Earnings11,7751,6151,5681,7791,6351,573Total PCL(recovery)542578295542578295Net Income894750921897765925Efficiency Ratio(%)42.145.043.642.044.343.4ROE(%)21.218.122

235、.821.318.523.0U.S.P&C Banking3(USD)Net Interest Income(teb)1,5411,5061,5371,5411,5061,537Non-Interest Revenue330304296330304296Revenue(teb)1,8711,8101,8331,8711,8101,833Expenses1,0751,0981,0941,0091,0301,019Pre-Provision,Pre-tax Earnings1796712739862780814Total PCL287509217287509217Net Income4071914

236、19456242475Net Income(CDE$)580256560650326635Efficiency Ratio(%)57.560.759.754.056.955.6ROE(%)6.22.96.57.03.87.4(Canadian$in millions unless otherwise stated)ReportedAdjustedQ1 25Q4 24Q1 24Q1 25Q4 24Q1 24BMO Wealth ManagementWealth&Asset Management1,4521,3991,2471,4521,3991,247Insurance1348781134878

237、1Revenue1,5861,4861,3281,5861,4861,328Expenses1,0951,0249971,0921,022996Pre-Provision,Pre-tax Earnings1491462331494464332Total PCL0341303413Net Income369326240371328241Wealth&Asset Management NI1128625216288254Insurance NI128368178368Efficiency Ratio(%)69.068.975.068.968.874.9ROE(%)29.026.620.329.22

238、6.820.4BMO Capital Markets3Global Markets1,3619389521,361938952I&CB712662637712662637Revenue(teb)2,0731,6001,5892,0731,6001,589Expenses1,2551,0871,1161,2501,0611,095Pre-Provision,Pre-tax Earnings1818513473823539494Total PCL(recovery)46211(22)46211(22)Net Income587251393591270408U.S.Net Income($US)24

239、14313124345138Efficiency Ratio(%)60.567.970.260.366.369.0ROE(%)16.97.311.617.07.812.0Corporate Services3Revenue(125)480(449)(125)(109)(271)Group teb offset(9)(11)(28)(9)(11)(28)Revenue(teb)(134)469(477)(134)(120)(299)Expenses249(502)60015089121Total PCL(recovery)92519251Net Income(Loss)(292)721(822)

240、(220)(147)(316)Adjusted results and measures are non-GAAP.Refer to slide 39 for adjustments to reported results and slide 38 and the Non-GAAP and Other Financial Measures sections of BMOs First Quarter 2025 MD&A for more information 1 Reported and adjusted pre-provision pre-tax earnings(PPPT)are non

241、-GAAP measures.Refer to slide 38 for more information and slide 41 for calculation of PPPT2 Reported and adjusted return on tangible common equity(ROTCE)are non-GAAP measures.Refer to slide 38 and Non-GAAP and Other Financial Measures section of BMOs First Quarter 2025 MD&A for more information3 U.S P&C and BMO Capital Markets operating group results are presented on a taxable equivalent basis(teb).This teb adjustment is offset in Corporate S CHEN-SEEDirector,Investor RBILL ANDERSONManaging Director,Investor RInvestor RelationsBMO Financial GroupContact Information