Quarterly Portfolio Disclosure Summary of Investment Portfolio • As at December 31, 2019 BMO RESOURCE FUND Q1 Top 25 Holdings Portfolio Allocation % of Net Asset Value Issuer % of Net Asset Value

Materials 56.7 SSR Mining Inc. 5.3 Energy 37.0 Franco-Nevada Corporation 5.2 Utilities 5.1 Agnico Eagle Mines Limited 5.1 Cash/Receivables/Payables 1.2 Canadian Natural Resources Limited 4.3 TC Energy Corporation 4.0 Total portfolio allocation 100.0 Newmont Goldcorp Corporation 3.8 B2Gold Corp. 3.8 Brookfield Infrastructure Partners L.P. 3.5 Corporation 3.5 Lundin Mining Corporation 3.5 Inc. 3.3 CCL Industries Inc., Class B 3.3 ConocoPhillips 3.1 Parex Resources Inc. 3.0 Ero Copper Corp. 3.0 Parkland Fuel Corporation 2.7 Air Products and Chemicals, Inc. 2.4 Kelt Exploration Ltd. 2.2 Ltd. 2.2 Gibson Energy Inc. 2.2 Gold Ltd. 2.2 Ecolab Inc. 2.0 Sherwin-Williams Company, The, 2.0 Rio Tinto plc, ADR 2.0 Boralex Inc., Class A 1.6

Top holdings as a percentage of net asset value 79.2

Total net asset value $116.1 million

This summary of investment portfolio may change due to the fund’s ongoing portfolio transactions. Updates are available quarterly. ®/™ Registered trade-marks/trade-mark of , used under licence. BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts or prospectus before investing. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Mutual funds are not guaranteed or covered by the Deposit Insurance Corporation, the Régie de l’assurance-dépôts du Québec or by any other government deposit insurer. The value of mutual funds change frequently and past performance may not be repeated. For a summary of the risks of an investment in BMO Mutual Funds, please see the specific risks set out in the prospectus.

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