Benefits Guide BMO® World Elite®* Mastercard®*

Welcome.

Upgrade your story today 2 Getting started 3 Your card at a glance 4 Table of Take things up a notch 6 contents Additional option 9 Everyday services to fit your life 10 Terms & conditions 16 Upgrade your story today

Thank you for choosing the BMO World Elite Mastercard. Beginning today, you can do more than simply imagine yourself at an exciting destination – you can be there. With points that never expire1, your card includes the most comprehensive list of features and benefits designed to help you create unforgettable memories everywhere you go.

2 Getting started 3

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Add additional cardholders your and to account more earn BMO even points. Rewards Access your credit information account card Access anytime. Use the app manage to your passes load offers, exclusive and more. Register your at card LoungeKey. by provided Airport Experiences Explore options all your of and reward viewyour points balance only) primary cardholder (for Follow the instructions found on your on sticker your card(s). Additional cards. Additional Visit Online Banking at app. Banking Download the Mastercard Airport from app mobile Experiences Mastercard the Download the App or Store Google Play. Airport Lounge Access. collector number. number. collector Register at bmorewards.com using your BMO Rewards BMO your using bmorewards.com at Register Activatenow. your new card(s)

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2. 1. Getting started Your card at a glance

It’s something to celebrate when a flight of the imagination becomes a flight you’re actually on. That’s what happens when a credit card rewards program becomes more about the rewards and much less about the restrictions: rewards like points you can redeem for any seat, on any airline*, at any time – plus, BMO Rewards points cover all flight charges including taxes and fees.4

4 Your card at a glance 5 3 ± locations. ®†† everywhere else 2b on your BMO World World BMO your on 2a,2b and Alamo Rent a Car a Rent Alamo and ®†† bmorewards.com 4 is where your journeys will start. Your redemption redemption start. Your will journeys your where is For more information on redeeming on redeeming information more For other or travel for points Rewards BMO visit rewards, treat yourselftreat purchasing by whatever you want, wherever you want and use your BMO Rewards points pay to down your credit card balance. into a BMO Investment account, or make a charitable donation. Points for cash yourTurn BMORewards points into cash. For the ultimate in flexibility, Contribute Invest in the future redeeming by BMO Rewards points for a contribution Experience events exclusive and excursions premium experiences, unique in Indulge – from luxury spa weekends wine-and-dine to tourse. Shop Redeem BMO Rewards points for a selection of merchandise, gift cards, more. and experiences vacation packages – free of restrictions. Use your BMO Rewards points all cover to flight charges, including taxes, when you book through BMO Rewards. And you can book any seat, at any time on any airline*, Travel Enjoy exclusive access dream to travel – flights, hotels, cruises and Earn 2 bonus BMO points Rewards for every you $1 spend onrentals at participating NationalCar Rental Earn 2 BMO points Rewards forevery you $1 spend on your BMO World Elite Mastercard. Earn BMO 3 points Rewards for every you $1 spend on eligible purchases entertainment and dining travel, Mastercard. Elite cards, experiences and more. and experiences cards, bmorewards.com options are virtually limitless. When you’ll you be register, able book to your next vacation, shop the extensive catalogue merchandise, of gift • BMO Rewards • • Earning potential Earning potential Take things up a notch

Your BMO World Elite Mastercard card comes with additional benefits, designed to help you create unforgettable memories at home and away.

6 Mastercard Airport Experiences provided by LoungeKey Make the airport the first highlight of your trip with Mastercard Airport Experiences provided by LoungeKey.5 This Program delivers airport lounge access and exclusive dining, spa and retail offers6 at 400+ airports worldwide. Just present your credit card to access more than 850 VIP airport lounges around the world. Your annual membership includes four (4) complimentary airport lounge passes. Use these passes for yourself or towards the cost of your travelling companions. Any additional passes used within the annual membership period will be charged US$32 per person to your BMO World Elite Mastercard, per visit.7

Travel and Medical Protection Travel with unlimited-trips-per-year coverage for journeys up to 21 days 8 (up to $2 million in eligible medical expenses). up Take things

For more details, please review the BMO World Elite Total Travel and Medical Certificate of Insurance in your BMO World Elite a notch Information Guide.

Concierge services Need theatre ticket information? Restaurant reservations? Enjoy free 24-hour access to our experienced concierge staff. For more information, call 1-800-741-6758.

Car rental savings Save up to 25% off rentals at participating National Car Rental and Alamo Rent A Car locations.9

For full details about these features, ! visit bmo.com/creditcards or call us at 1‑866‑991‑4769.

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Additional option 9 . 10 -8142 -840 -844 1 11 or by calling or by

bmoprotection.assurant.com Add this option to your card by visitingAdd by this option your card to

as death, total disability, and job loss.The premium for BMO Credit Card Balance Protection is for $1.00 each $100 your of total statement taxes). provincial applicable (plus balance Optional BMO Credit Card Balance Protection Enhanced Enhanced Protection Balance Card Credit BMO Optional Help protect yourself and yourfamily in the the of event unexpected. Protect the balance on your BMO Mastercard from life events such Additional option Everyday services to fit your life

Your BMO World Elite Mastercard includes a comprehensive suite of up-to-date card security and payment technologies, account support services and additional insurance coverage. Designed for everyday convenience, these features make your new card the perfect payment option for you.

10 Everyday services to fit your life 11 12

12 ™* (within Canada and the U.S.) (outside North (outside America, call collect) 4623 6690 - - bmo.com/cardsecurity -247 -275 800 314 - - 1 1 For full details on Extended Warranty and Purchase Protection, including limitations and exclusions, please refer to the Information Guide you received with your card. Get added protection. Items purchased with your card are automatically insured, subject limitations to and exclusions, against theft or damage for 90 days from purchase. of date warranty period up a maximum to one of additional year. Protection Purchase Save the cost buying of optional extended warranty insurance on your next purchase paying by with your BMO credit card. Subject limitations to the original increases manufacturer’s coverage this and exclusions, existing BMO Mastercard and requires no download or registration. Learn more at Warranty Extended BMO Mastercard for all your online purchases. This enhanced level of security will verify your online purchases througha seamless process to ensure that your card is always protected. Identity Check works with your • Check Identity Mastercard Mastercard Identity Check offers an additional security of layer on your contact the Mastercard Assistance hours 24 Centre a day: • Worldwide support Worldwide If an you have emergency virtually anywhere in the world, you can Security and protection protection Security and Added value services

Mastercard®* contactless. Tap & go™* Your BMO credit card lets you make purchases at contactless terminals without having to swipe your card. Simply “tap” your card with contactless on the terminal and away you “go”. For more information, visit mastercard.ca/tapandgo

BMO alerts Sign up for BMO alerts – an easy way to stay on top of your account details on the go. Receive helpful information by email or text message, such as reminders of your payment due date, credit limit, and more. Go to bmo.com/onlinebanking to register your account. eStatements and eStatement alerts Securely view eStatements for your credit card account anytime through BMO Online Banking. Sign up to receive alerts by email or text message to let you know when your eStatements are available to view. eStatement alerts will help you keep on top of your credit card payments.

Apple Pay Add your BMO credit or debit card to Apple Pay and enjoy the security and convenience of paying right from your iPhone, Apple Watch or iPad. Pay in store12 or make payments within apps quickly and easily with Apple Pay.13 Visit apple.com/ca/apple-pay for a list of eligible devices.

Google Pay™ BMO brings a secure and convenient way to pay using your phone and your BMO credit or debit card. Add your BMO credit or debit card to Google Pay and start shopping in stores and in apps. Visit Google Play to download the Google Pay app today.

Convenient bill payment Use the following options to make payments on your BMO AIR MILES World Elite Mastercard: • Directly from your BMO bank account: • BMO Online & Mobile Banking: Visit bmo.com to register. • BMO Telephone Banking: call 1-800-363-9992 to register. • Mail • Pre-authorized payments: Automatic monthly payments from your BMO account or an account at any financial payment institution in Canada. Call 1-866-991-4769 for more information. • In person at any BMO Bank of Montreal branch.

12 Zero Liability Protection14 for lost or stolen cards With Zero Liability Protection, if someone uses your card without your authorization, you are not liable if: • you did not contribute to the unauthorized use • you used reasonable care to safeguard your card and Personal Identification Number (PIN), and • you notified us by telephone within 24 hours after you learned of the loss, theft or misuse of your card or cheques, or after you learned or suspected that someone else knows your PIN.

If you don’t meet these criteria, you will be liable for all charges incurred in connection with the unauthorized use.

Safeguarding your card, PIN and cheques Please take care to safeguard your card, Personal Identification Number (PIN) and credit card cheques against loss, theft or misuse. To safeguard your PIN: • you must not voluntarily disclose your PIN • you must keep your PIN separate from your card • you must not choose a PIN selected from your name, date of birth, telephone numbers, address or social insurance number

When inputting your PIN into an ATM or point-of-sale terminal, telephone or computer in public areas, please take reasonable precautions, such as ensuring that no one is watching you by using your body or hand as a shield in order to conceal your PIN from the view of others.

We encourage you to be cautious of websites, online services, callers or other parties pretending to be Bank of Montreal (or a subsidiary) that ask for this information or purport to bring together, summarize, aggregate or consolidate your financial data and other information that is currently available to you online.

You must notify us by telephone within 24 hours if you learn of the loss, theft or misuse of your card or cheques, or if you know or suspect that someone else knows your PIN.

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Our Commitment to You BMO Financial Group appreciates and values the opportunity to assist you in meeting your financial objectives today, and in the future. We’re committed to a strong customer focus: to service, to excellence, and to being responsive to help you reach your goals. This demands that we listen to you, constantly seek ways to enhance your experience with us, and help us earn the right to be your financial services provider.

15 Terms & conditions

The information in this booklet is correct as of October 5, 2020 and is subject to change.

16 1 BMO Rewards points will not expire as long as the BMO World Elite Mastercard card account (referred to in this paragraph as the “Account”) remains open and in good standing, except as described in the section of the BMO Rewards Terms & Conditions, which deals with the program termination. On cancellation of the Account, a cardholder will have 90 days in which to do either of the following: (i) redeem the points earned for one or more rewards; or (ii) reinstate the points by either reinstating the Account or opening a new Account and linking the points account that was attached to the cancelled Account to the new Account. After the ninety day period, unless the points are reinstated, any points that remain in the points account will expire. For details, please refer to the BMO Rewards Terms and Conditions for further details. 2a You will earn 3 BMO Rewards points for every $1 in eligible travel, dining and entertainment purchases, up to $50,000 annually (January to December statement cycle period). The 3 BMO Rewards points includes the base earn rate of 2 BMO Rewards points for every $1 in card purchases (“Base Rewards”) and the bonus of 1 BMO Rewards point for every $1 in eligible travel, dining and entertainment purchases (“Bonus Rewards”). To earn Bonus Rewards, your purchases must be made at merchants that are classified in the Mastercard network as: airlines, car rental agencies, hotels/resorts, cruise lines, passenger railways, tour operators, timeshares, travel agencies and tour operators, dining: eating places, restaurants, drinking places, fast food restaurants and entertainment including motion picture theatres, theatrical producers, ticket agencies, bands, orchestras and miscellaneous entertainers, tourist attractions and exhibits, amusement parks, carnivals, circuses, aquariums, dolphinariums, zoos and seaquariums (“Applicable Merchants”). If you exceed $50,000 in combined annual purchases, you will continue to earn the Base Rewards. Some merchants may sell the same or similar products/services as the Applicable Merchants or are separate merchants who are located on the premises of the Applicable Merchants, but are classified by Mastercard in another manner (“Other Merchants”).You will only earn Base Rewards for purchases made at Other Merchants. 2b Subject to the BMO Rewards Terms and Conditions, BMO Rewards points are calculated based on purchases of goods or services charged to the BMO World Elite Mastercard account, less any refunds or adjustments, rounded down to the nearest whole point. Cash advances (including purchases of foreign currency or travellers cheques), interest charges, fees, credit or debit adjustments and any amount other than purchases that may be charged to the account with the card, do not qualify for points. Bank of Montreal may establish other qualifying and non-qualifying transactions from time to time. 3 BMO Mastercard cardholders will earn 2 bonus BMO Rewards points at participating National Car Rental and Alamo Rent A Car locations. BMO Rewards points are awarded per transaction in any monthly billing period. 4 BMO Rewards redemptions are subject to fees and charges. For details, please see the fees, charges, and pricing policy in the BMO Rewards Terms and Conditions as well as the Important Information about BMO Mastercard cards enclosure. 5 Mastercard Airport Experiences provided by LoungeKey (“MCAE”) is a worldwide program run by LoungeKey Ltd. This benefit is available to all cardholders of a BMO World Elite Mastercard (“eligible cardholders”). Eligible cardholders are required to comply with the Conditions of Use available online at airport.mastercard.com or on the MCAE mobile application, as well as any additional terms and conditions applicable to the lounge or offer being used by the eligible cardholder. The Conditions of Use are subject to change from time to time without notice to Issuer or the eligible cardholders. Eligible cardholders wishing to access a participating MCAE lounge must present their valid, eligible BMO World Elite Mastercard or their mobile access code (this may be obtained by the eligible cardholder by registering an account at airport.mastercard.com or through the MCAE mobile application) to the lounge receptionist and mentioning “Mastercard Airport Experiences provided by LoungeKey.”. 6 Some offers may be subject to a per-person, per-visit charge. Where applicable and dependent upon the offer, access charges, including those for an accompanying guest, may be charged to your credit card. 7 Value and benefits of the MCAE complimentary membership are subject to change without notice. Use the four complimentary passes for yourself or to cover the cost of the lounge visit of your travelling companion. After using four passes, you can continue to enjoy lounge access for a fee of just US$32 per person, per visit. Unused complimentary passes are not transferable and cannot be carried over to the following year. 8 Subject to terms and conditions, including limitations, exclusions and other important information contained in the BMO World Elite Total Travel and Medical Protection Certificate of Insurance, which is sent to new cardholders. Out-of-Province/Out-of-Country Emergency Medical benefits are available to cardholders under the age of 65. Insurance benefits provided by Allianz Global Risks US Insurance Company (Canadian Branch) except Common Carrier Accidental Death and Dismemberment Insurance provided by Chubb Insurance Company of Canada. 9 The contract ID number (3717122 for National Car Rental and 7014883 for Alamo Rent A Car) must be included when making a car rental reservation to receive discounts. Discount applies to base rate only at participating National Car Rental and Alamo Rent A Car locations. Discount varies by rental date, location and vehicle type. Taxes, other governmentally-authorized or imposed surcharges (including GST), license and concession recoupment fees, airport and airport facility fees, fuel, additional driver fee, one-way rental charge and optional items (such as LDW up to US $30 per day) are extra. Renter must meet standard age, driver and credit requirements. 24-hour advance reservation required. May not be combined with other discounts. Availability is limited. Subject to change without notice. 10 If you remove an optional feature from your account before the annual anniversary date, you may not receive a full refund. You may cancel this optional coverage at any time. 11 The monthly premium rate is $1.00 per $100.00 of your total statement balance for the billing cycle, plus applicable taxes. Subject to Terms and Conditions, including limitations and exclusions contained in the BMO Credit Card Balance Protection Enhanced Certificate of Insurance. Please refer to the certificate for further details. Insurance benefits provided by Assurant. 12 Subject to terms and conditions, including limitations, exclusions and other important information contained in the Certificate of Insurance, which is sent to new cardholders. Insurance benefits provided by Allianz Global Risks US Insurance Company (Canadian Branch. 13 Transaction limits may apply. For security reasons, periodically you may be prompted to insert your card and/or enter your PIN when using Apple Pay. 14 Message and data rates may apply. Contact your wireless carrier for details. 15 Please refer to your BMO Mastercard Cardholder Agreement for more information.

†Check your balance of complimentary passes on the Mastercard Airport Experiences mobile app. *Some conditions may apply. ± The cash credit will reduce the outstanding balance owing on your credit card account at the time the credit is applied. Your cash credit will not count towards your minimum payment and if you redeem your points for a cash credit, you must still make your monthly minimum payment as described in your Cardholder Agreement. The cash credit will be applied to the primary credit card account that is linked to the BMO Rewards collector account. Please allow 3-5 business days for your cash credit to be processed before it can be applied to your credit card account. This redemption option may be changed, limited, prohibited or withdrawn at any time without notice. You cannot cancel or change your cash credit redemption after you have made the redemption. conditions Terms & ™ ®†† ™ ®

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