BMO 401(K) SAVINGS PLAN Contribution & Employer Match

BMO 401(K) SAVINGS PLAN Average Participant Retirement Account Value

BMO 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

• Participants are automatically enrolled 30 days after becoming eligible with a 5% pre-tax contribution.
• Following a participant’s one-year anniversary, the contribution rate automatically increases by 1% each January until a pre-tax savings rate of 10% is reached.
• Alternatively, participants may elect to opt-out, or choose to contribute from 1% to 75% of their pay (as defined) on a pre-tax and/or Roth after-tax basis.
• Participants may also contribute an additional 401(k) catch-up contribution equal to 1% to 75% of their pay (as defined) on a pre-tax and/or Roth after-tax basis starting January 1 of the year they reach age 50.

• BFC makes 401(k) matching contributions to the participants’ accounts each pay period, dollar for dollar, up to the first 5% of participants’ annual eligible pay (as defined), to the maximum annual compensation limit permitted by the Internal Revenue Service (the IRS; $345,000 in 2024 and $330,000 in 2023).

• All participant and employer contributions are fully vested at all times, except for the employer’s non-elective contributions, which require participants to attain three years of credited service to be fully vested.
• The Plan provides that a participant vests fully in the non-elective contributions upon the date such participant ceases to be employed due to certain circumstances, such as long-term disability, death, or involuntary termination due to a reduction in workforce.