BMO Asset Management Inc. Announces Changes to the Frequency of Distributions for the Accumulating Units BMO ETFs

TORONTO, May 18, 2021 /CNW/ - BMO Asset Management Inc. today announced changes to the frequency of distributions for the Accumulating Units of the Exchange Traded Funds (ETFs) listed in the table below:

BMO ETF	Trading Symbol	Prior Frequency of Distributions	New Frequency of Distribution
BMO Short Corporate Bond Index ETF	ZCS.L	Annually	Quarterly
BMO Short Federal Bond Index ETF	ZFS.L	Annually	Quarterly
BMO Short Provincial Bond Index ETF	ZPS.L	Annually	Quarterly
BMO Ultra Short-Term Bond ETF	ZST.L	Annually	Quarterly
BMO Ultra Short-Term US Bond ETF	ZUS.V	Annually	Quarterly

These quarterly distributions, if any, generally represent net income and net realized capital gains within the ETFs. They are distributed and automatically reinvested in additional Accumulating Units of the applicable ETF, which are consolidated immediately.

Please note that the ETFs' investment objectives and strategies remained unchanged.

Further information about BMO ETFs can be found at www.bmo.com/etfs.

^®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF's prospectus.  BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal.

About BMO Exchange Traded Funds (ETFs)
BMO Exchange Traded Funds has been a leading ETF provider in Canada for 11 years, with over 100 strategies and approximately 30 per cent market share in Canada¹. BMO ETFs are designed to stay ahead of market trends and provide compelling solutions to help advisors and investors. This includes a comprehensive suite of ETFs developed in Canada for Canadians, such as cost effective core equity ETFs following market leading indexes, and a broad range of fixed income ETFs; solution-based ETFs responding to client demand; and innovation with smart beta ETFs, as well as combining active and passive investing with ETF series of active mutual funds.

1Morningstar, December 2020

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $973 billion as of January 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

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