TABLE 1 Shareholder Value TABLE 2 Summary Income Statement and Growth Statistics  ($ millions, except as noted) 52 BMO FINANCIAL GROUP ANNUAL REPORT 2002 As at or for the year ended October 31 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 Market Price per Common Share  ($) High 40.65 44.40 35.80 34.80 43.50 30.80 20.83 15.50 15.38 13.69 Low 31.00 32.75 21.00 24.68 25.88 19.53 14.69 12.06 11.00 10.66 Close 38.10 33.86 35.25 28.33 31.55 30.43 20.28 14.88 12.56 13.44 Common Dividends Dividends declared per share ($) 1.20 1.12 1.00 0.94 0.88 0.82 0.74 0.66 0.60 0.56 Dividends paid per share ($) 1.18 1.09 0.99 0.93 0.88 0.80 0.71 0.65 0.59 0.56 Dividend payout ratio (%) 44.0 40.8 30.2 39.6 37.4 35.0 35.1 38.2 40.3 43.3 Excluding non-recurring items (%) 42.8 43.8 33.7 36.8 37.4 33.8 34.7 36.8 37.9 43.3 Dividend yield (%) 3.1 3.3 2.8 3.3 2.8 2.9 3.9 4.4 4.8 4.2 Total Shareholder Return (%) Five-year annual average 7.9 14.3 22.9 22.0 23.3 26.1 22.2 23.1 14.3 20.6 One-year return 16.2 (1.2) 29.0 (7.4) 6.4 55.0 42.4 24.1 (2.3) 19.4 Common Share Information  Number outstanding (in thousands) End of period 492,505 489,085 522,584 534,064 528,866 522,873 519,874 527,369 530,913 498,188 Average basic 490,816 511,286 531,318 531,723 525,021 520,819 522,465 531,264 502,615 495,454 Average diluted 499,464 523,561 540,815 542,920 542,181 538,469 538,271 548,267 512,992 505,267 Number of shareholder accounts 44,072 45,190 46,663 49,369 51,387 53,651 55,571 57,187 58,879 62,342 Book value per share ($) 21.07 19.69 19.63 17.44 16.36 14.59 12.94 11.71 10.69 9.70 Total market value of shares ($ billions) 18.8 16.6 18.4 15.1 16.7 15.9 10.5 7.8 6.7 6.7 Price-to-earnings multiple 14.0 12.4 10.7 11.9 13.4 12.9 9.7 8.6 8.3 10.4 Excluding non-recurring items 13.6 13.3 11.9 11.1 13.4 12.5 9.5 8.3 7.9 10.4 Price-to-cash earnings multiple 13.2 11.6 10.2 11.3 12.7 12.3 9.1 8.1 8.0 9.8 Excluding non-recurring items 12.9 12.4 11.4 10.5 12.7 11.9 9.0 7.8 7.5 9.9 Market-to-book value multiple 1.81 1.72 1.80 1.62 1.93 2.09 1.57 1.27 1.17 1.39 For the year ended October 31 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 Income Statement Net interest income (teb) 4,935 4,641 4,338 4,417 4,152 4,186 3,711 3,564 3,325 3,207 Non-interest revenue 3,924 4,222 4,326 3,511 3,118 2,981 2,516 2,102 1,871 1,654 Total revenue (teb) 8,859 8,863 8,664 7,928 7,270 7,167 6,227 5,666 5,196 4,861 Provision for credit losses 820 980 358 320 130 275 225 275 510 675 Non-interest expense 6,030 5,671 5,258 5,288 4,785 4,567 3,913 3,612 3,208 2,897 Income before provision for income taxes, non- controlling interest in subsidiaries and goodwill 2,009 2,212 3,048 2,320 2,355 2,325 2,089 1,779 1,478 1,289 Income taxes (teb) 530 643 1,123 874 938 954 866 746 627 555 Non-controlling interest in subsidiaries 62 42 19 21 25 25 20 13 11 6 Net income before goodwill 1,417 1,527 1,906 1,425 1,392 1,346 1,203 1,020 840 728 Amortization of goodwill, net of applicable income tax — 56 49 43 42 41 35 34 15 19 Net income 1,417 1,471 1,857 1,382 1,350 1,305 1,168 986 825 709 Year-over-year growth (%) (3.7) (20.8) 34.4 2.4 3.5 11.7 18.4 19.5 16.4 10.9 Net income excluding non-recurring items 1,456 1,378 1,672 1,477 1,350 1,348 1,182 1,020 871 709 Year-over-year growth (%)  5.7 (17.6) 13.1 9.5 0.2 14.1 15.8 17.1 22.9 9.5 Earnings per Share before Goodwill  ($) Basic 2.73 2.83 3.40 2.46 2.44 2.43 2.17 1.79 1.53 1.33 Diluted 2.68 2.77 3.34 2.41 2.37 2.36 2.12 1.75 1.51 1.31 Year-over-year growth (%) (3.2) (17.1) 38.6 1.7 0.4 11.3 21.1 15.9 15.3 8.3 Earnings per Share  ($) Basic 2.73 2.72 3.30 2.38 2.36 2.35 2.10 1.73 1.51 1.30 Diluted 2.68 2.66 3.25 2.34 2.29 2.28 2.06 1.69 1.49 1.28 Year-over-year growth (%) 0.8 (18.2) 38.9 2.2 0.4 10.7 21.9 13.4 16.4 8.5 Excluding non-recurring items 2.76 2.48 2.91 2.51 2.29 2.36 2.08 1.75 1.57 1.28 Year-over-year growth (%)  11.3 (14.8) 15.9 9.6 (3.0) 13.5 18.9 11.5 22.7 7.6 Diluted Cash Earnings per Share  ($) 2.83 2.86 3.39 2.46 2.42 2.42 2.17 1.79 1.55 1.35 Year-over-year growth (%) (1.0) (15.6) 37.8 1.7 — 11.5 21.2 15.5 14.8 14.4 Excluding non-recurring items 2.91 2.68 3.05 2.64 2.42 2.50 2.19 1.86 1.64 1.34 Year-over-year growth (%) 8.6 (12.1) 15.5 9.1 (3.2) 14.2 17.7 13.4 22.4 12.6 SUPPLEMENTAL INFORMATION