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Bank of Montreal Canadian Q-Model® Principal at Risk Notes Series 17A

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Bank of Montreal Canadian Q-Model® Principal at Risk Notes Series 17A Bank of Montreal Canadian Q-Model® Principal at Risk Notes Series 17A Summary of Investment Portfolio as at December 1, 2016 Product Details Current Portfolio Holdings* Objective Ticker Company Name Composite Rank Sector Weight The Notes are designed for equity AC Air Canada 17 Industrial 4.79% investors seeking a return based on a ACO.X ATCO Ltd. I 8 Utilities 4.57% portfolio of Canadian large-cap stocks selected using the BMO Capital Markets BCE BCE Inc. 31 Communications 4.46% Quantitative Factor Model. BNS Scotiabank 1 Financial 5.12% BTO B2Gold Corp. 16 Basic Materials 4.43% Series 17A - Regular Accounts CM CIBC 4 Financial 5.13% Asset Class Canadian Equity ENF Enbridge Income Fund Holdings 7 Energy 4.70% Structure Debt Security FTS Fortis Inc. 24 Utilities 4.55% Discipline Quantitative IAG Industrial Alliance 13 Financial 5.47% IGM IGM Financial Inc. 20 Financial 4.99% Strategy Top 20/35 (Total Return) IPL Inter Pipeline Ltd. 12 Energy 4.83% Holdings 20 stocks LNR Linamar Corp. 15 Industrial 5.14% Code JHN 8040 MFC Manulife Financial Corp. 11 Financial 6.18% MG Magna International Inc. 5 Consumer (Cyclical) 5.12% Daily NAV $148.14 NA National Bank 2 Financial 5.44% Current Yield 3.32% PWF Power Financial 18 Financial 5.31% ETC Nil RY Royal Bank of Canada 14 Financial 5.21% SLF Sun Life Financial 3 Financial 5.72% Issue Date December 21, 2011 TD Toronto-Dominion Bank 9 Financial 5.27% Maturity Date December 21, 2016 THO Tahoe Resources 10 Basic Materials 3.55% Program Fee 1.75% per annum * Portfolio Holdings as of December 9, 2016 Quantitative Analyst Sector Allocation Portfolio Changes Ken Hartviksen, CFA Additions December 2, 2016 BMO Capital Markets ACOx, BTO, AC Quantitative Research Deletions December 2, 2016 FFH, GWO, POW How To Reach Us Historical Performance (NAV) BMO Investor Solutions Group 1-866-750-5190 www.bmosp.com Source: BMO Capital Markets Research Bank of Montreal Canadian Q-Model® Principal at Risk Notes (cont.d) Historical Portfolio Changes Transaction Date Deletions Additions Transaction Date Deletions Additions 1-Mar-12 MFC, S, IGM RCIb, COS, SJRb 1-Jun-12 RCIb PMG 3-Jul-12 PMG, MG, TCW VET, MTL, ABX 4-Sep-12 X MG 1-Oct-12 COS AIM 1-Nov-12 SJRb TCW 3-Dec-12 VET, ABX, TCW GWO, SLF, WJA 2-Jan-13 PRE BNS 1-Mar-13 POW, SU IAG, IFC 1-May-13 MTL RCIb 3-Jun-13 MBT, ACOx, ESI FFH, SJRb, OTC 2-Jul-13 HSE, SJRb WFT, CWB 3-Sep-13 AGU, BCE, CWB, FFH, IFC MFC, COS, MX, HSE, EMPa 1-Oct-13 EMPa HCG 14-Jan-14 WFT WFT 3-Mar-14 RCIb CTCa 2-Apr-14 AIM SU 4-Jun-14 IAG, WJA CNQ, BAMa 6-Aug-14 WFT LNR 4-Nov-14 COS, CTCa FFH, PRE 5-Feb-15 MX BBDb 3-Mar-15 BBDb, HSE, SLF WJA, IFC, POW 6-Apr-15 PRE IAG 4-May-15 SU EMA 2-Jun-15 CNQ IGM 2-Sep-15 FFH BCE 3-Nov-15 OTC POT 2-Mar-16 BAMa SLF 3-May-16 POT CWB 6-Jul-16 CWB, EMA, HCG FTS, ENF, AQN 3-Aug-16 IFC FFH 6-Sep-16 WJA THO 3-Nov-16 AQN IPL 2-Dec-16 FFH, GWO, POW ACOx, BTO, AC This Summary is for information purposes only and does not constitute an offer to sell or a solicitation to buy the Notes referred to herein. Details of certain risks of investing in the Notes are contained in the related base shelf prospectus and pricing supplement and capitalized terms not defined herein have the meanings given to them in the related pricing supplement. The Notes are not listed on any stock exchange. Bank of Montreal makes no recommendations concerning equity investments as asset classes or the suitability of investing in securities generally or in the Notes in particular. This Summary reflects the Portfolio as at the date shown on the front page. Updates to the Summary will be available monthly at www.bmosp.com. The value of the portfolio changes frequently and past performance may not be repeated. The Notes are not insured under the Canada Deposit Insurance Corporation Act. Additional information relating to any of the Companies whose shares are included in the Portfolio can be obtained from the public disclosure filed on www.sedar.com or other publicly available sources; it is the sole responsibility of the respective Companies to ensure the accuracy, reliability and completeness of such information. Neither the Bank nor any of its respective affiliates or associates make any assurances, representations or warranties with respect to, nor assume any responsibility for, the accuracy, reliability or completeness of such information, or accept responsibility for the provision of any future information in respect of the Shares and the Companies, or has any duty or obligation to update such information in connection with the Notes. Investors shall have no recourse against the Bank in connection with any information about and/or relating to the Shares and the Companies. "BMO (M-bar roundel symbol)" is a registered trademark and "BMO Capital Markets" is a trademark of the Bank used under license. "Q-Model" is a trademark of BMO Nesbitt Burns Corporation Limited..
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