NEW YORK, Nov. 14, 2025 – Bank of Montreal (“BMO”) today announced that, pursuant to the terms of BMO’s MicroSectors™ Gold Miners 3X Leveraged Exchange Traded Notes due June 29, 2040 (the “ETNs”), BMO Capital Markets Corp., the calculation agent of the ETNs, has elected to exercise its right to increase the Financing Spread for the ETNs.

Capitalized terms used but not defined herein have the meanings ascribed to them in the ETN Prospectus (as defined below).

Financing Spread Increase

It is expected that, effective as of November 21, 2025 (the “Fee Effective Date”), the Financing Spread will be increased as follows:

The closing Indicative Note Value of the ETNs reflects the daily deduction of a Daily Financing Charge, along with other fees and charges described in the ETN Prospectus. The Daily Financing Charge is based on the Federal Reserve Bank Prime Loan Rate plus the Financing Spread. As a result of the increase in the Financing Spread, the Daily Financing Charge will also increase, and returns on the ETNs will be adversely affected.

Redemption Rights

Holders of the ETNs may:

• Continue to hold their ETNs

• Elect to require BMO to redeem their ETNs in accordance with the terms of the ETNs

• Sell their ETNs in the secondary market

As disclosed in the ETN Prospectus, the Minimum Redemption Amount will not apply to any redemption validly elected from the date of this announcement through the Fee Effective Date. Outside of this period, holders must redeem at least 25,000 ETNs at one time to exercise their redemption right.

Disclosures

The issuance of this notice may adversely impact your ability to sell the ETNs and/or the price at which you may be able to sell them.

The ETNs are not intended to be “buy and hold” investments and are not intended to be held to maturity. The ETNs are designed as daily trading tools for sophisticated investors and seek to provide 3x leveraged long exposure, on a daily basis and before fees, to the performance of the S-Network MicroSectors™ Gold Miners Index (the “Index”).

Due to daily leverage resetting, returns over periods longer than one day can differ significantly—and likely will differ—from three times the return of a direct investment in the Index. The ETNs are considerably riskier than securities with intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for more than one day or who follow a buy-and-hold strategy.

Investors should actively and continuously monitor their investments on an intraday basis. The ETNs are highly sensitive to changes in the level and volatility of the Index, and it is possible to incur significant losses, including the entire amount invested, even if the long-term performance of the Index is positive.

Additional Information

For additional information, including a discussion of the risks associated with an investment in the ETNs, investors should carefully read the pricing supplement and related documents (collectively, the “ETN Prospectus”) before making an investment decision.

The ETN Prospectus is available on EDGAR at www.sec.gov and on the product websites:

• www.bmoetns.com

• www.microsectors.com

The ETNs are senior, unsecured obligations of BMO and are subject to BMO’s credit risk. This information is not intended to provide accounting, legal, regulatory, or tax advice. Investors should consult their own financial advisors.

About REX Shares

REX Shares (“REX”) is a leading provider of innovative exchange-traded products (ETPs), with over $8 billion in assets under management. REX pioneered the MicroSectors™ and T-REX™ product lines, offering leveraged and inverse exposure to individual stocks and market sectors, as well as options-based income strategies and crypto-related exposures.

For more information, visit www.rexshares.com or www.microsectors.com.
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Media Contact: rexshares@gregoryfca.com