Website user agreement

The following terms of use (the "Terms") apply to your use of all websites of B M O InvestorLine Inc. ("B M O IL") (individually referred to as a "Website" and collectively referred to as the "Websites") and access of online services of B M O IL ("Online Services"). For clarity, the term "Websites" includes any Websites accessed through the Application (as defined below) and the term "Online Services" includes Mobile Services (as defined below). By using Websites, you accept and agree to be bound by and comply with the Terms and any terms, conditions, legal notices and disclaimers in the footers, content or other pages of the Websites and behind links, buttons or icons on the Websites (the "Additional Terms") in the same way as if you have signed a printed version and you will be bound by them and they will continue to apply every time you use the Websites. These terms are additional to the terms of the client account agreements governing your B M O IL self-directed account(s).

The Terms and Additional Terms also apply to your use of any downloadable application or other technology to access any features, functionality, content and/or information that is made available or provided on the Websites (individually referred to as an "Application" and collectively referred to as the "Applications").

In the event of any conflict between the Terms and the Additional Terms, the Additional Terms will govern.

All products and services of B M O IL that are described, made available or provided on the Websites may be changed or withdrawn at any time without notice and are subject to the terms and conditions of the applicable agreements governing their use in force at the time of the provision of the product or service, in addition to the Terms and Additional Terms. In the event that the Terms or Additional Terms are inconsistent with the terms of any agreement that you or your organization may have with B M O IL, the terms of that agreement will govern.

The information, material and content provided in the pages of the Websites, including pricing information, (the "Information") is believed to be reliable when posted, but there is no guarantee that it is accurate, complete or current at all times. Without limiting the generality of the foregoing, the Information may include technical inaccuracies or typographical errors, and B M O IL and its officers, directors, employees and agents have no obligation to update the Information. The Information or the Websites may be changed, withdrawn or terminated at any time without notice.

Changes may be made to the Terms and Additional Terms at any time without notice by updating this posting. You agree to review the Terms regularly, and your continued access or use of the Websites will mean that you agree to any changes.

B M O InvestorLine Inc.

B M O IL is an indirect subsidiary of Bank of Montreal. B M O IL is a member of the Investment Industry Regulation Organization of Canada and the Canadian Investor Protection Fund.

No Advice

The Information is for informational purposes only and is not intended to constitute financial, accounting, legal or tax advice and should not be relied upon in that regard. B M O IL self-directed services and use of the Websites does not provide advice, recommendations or provide determinations of suitability in respect of proposed purchases or sales of any securities in your B M O IL self-directed account(s).

No solicitation and Jurisdiction

The products and services of B M O IL and its affiliates are only offered in jurisdictions where they may be lawfully offered for sale and are subject to the terms of applicable agreements. Any products or service mentioned on the Websites are available only in accordance with local law and only where it may be lawfully offered for sale.

The information on the Websites does not constitute an offer or solicitation by anyone in any jurisdiction in which an offer or solicitation cannot be legally made, or to any person to whom it is unlawful to make a solicitation.

No warranties

B M O IL provides the Websites, the Application and the Information on an "as is, where is" basis and does not make any express or implied warranties, representations, or endorsements with respect to the Websites, the Application or the Information, including without limitation, warranties as to merchantability, operation, non-infringement, usefulness, completeness, accuracy, currency, reliability and fitness for a particular purpose. Further, B M O IL does not represent or warrant that the Websites or the Application will be available and meet your requirements, that access will be uninterrupted, that there will be no delays, difficulties in use, defects, incompatibility, failures, errors, omissions or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your computer system. You have sole responsibility for taking protection and backup of data and/or equipment and for taking reasonable and appropriate precautions to scan for computer viruses or other destructive properties.

You acknowledge that it is not possible for us to provide the Online Services free from defects. The Online Services, the Websites and the Application utilize complex computer and telecommunications networks and that, as such, continued, uninterrupted and error free access to the Online Services, the Websites and/or the Application cannot be guaranteed.. The Online Services, the Websites and the Application may be delayed, unavailable, not delivered and/or inaccurate from time to time due to a variety of factors, including technical reasons, for planned or unplanned maintenance or downtime, for editorial amendments or for any other reason.

No liability

In light of the foregoing, neither B M O IL, its affiliates, its licensors, nor any other third party provider shall be liable in any way for any loss or damage, direct or indirect, which may arise out of or in connection with the Websites, the Online Services, the Application or the Information or any obligation of B M O IL under this agreement, including but not limited to any action or decision made by you in reliance on the Websites, the Online Services, the Application or the Information, from any unauthorized use or reproduction of the Websites, the Online Services, the Application or the Information, from any outage, interruption, discontinuation or delay in the Websites, the Online Services or the Application or any part thereof or any error contained therein or omission therefrom, from any other non-performance, defective performance or late performance due to any cause whatsoever, including errors due to malfunction of equipment, programs or operations of B M O IL, its affiliates, its licensors, or any third parties, or negligence of B M O IL, its affiliates, its licensors, third party providers, operators or programmers, even if such party knew, should have known or was advised of the possibility of such damages. In no event will B M O IL, its affiliates, its licensors, or any third party provider be liable for any punitive, incidental, direct, indirect, special, exemplary or consequential damages, including, but not limited to, loss of use, loss of data, loss of opportunity or loss of revenues, profits or savings, however caused, related to, arising out of or in connection with your use of, reliance on, or inability to access or use the Websites, the Online Services, the Application or the Information, or for any delay in or failure of transmission of any instructions or notifications sent to B M O IL through the Websites, the Online Services or the Application, even if such party knew, should have known or was advised of the possibility of such damages. B M O IL's affiliates, licensors and third party providers shall be third party beneficiaries to the foregoing provisions.

Information provided by you

You agree that any information or materials that you provide to any of B M O IL through any of its Websites shall become the sole property of B M O IL, and may be used freely by B M O IL. By providing such information and materials, you declare and warrant that you have all necessary rights to submit such information and materials and that the information and materials do not infringe the rights of third parties.

Electronic Communication via the Internet

Any unprotected electronic communication over the Internet is, as with communication via other mediums (e.g. cellular phones, post office mail), not secure or confidential, subject to possible interception or loss, and possible alteration. You should not send any confidential, proprietary or sensitive information about you or others via these mediums. B M O IL is not responsible for and will not be liable to you or anyone else for any damages in connection with an email, text message, comment, post or any other electronic message sent by you to B M O IL, or an email, text message, comment post or any other electronic message sent by B M O IL to you.

Hyperlinks are not endorsements

Links to other websites or references to products, services or publications other than those of B M O IL on the Websites do not imply the endorsement or approval of such websites, products, services or publications by B M O IL. Linking to any other website is at your sole risk.

Third Party Content

The financial market data, including quotes, charts, news and research (collectively "Third Party Information") are provided by various information suppliers ("Information Providers") that are independent of B M O IL.

The Third Party Information may include the views, opinions, and recommendations of individuals or organizations that may be of interest to investors generally, but B M O IL and its Information Providers do not endorse such views or opinions.

The Third Party Information does not represent B M O IL's views, and is not intended to provide investment, tax, accounting or legal advice nor does it constitute a solicitation of any offer to buy or sell any securities. All quote information is delayed by 20 minutes unless otherwise specified. We cannot guarantee the accuracy of the information provided. B M O IL and its Information Providers shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon."

The Third Party Information is the intellectual property of the contributing Information Provider, the use of which is subject to applicable laws and/or restrictions related to copyright, trademark, re-publication, and redistribution.

Third Party Research

  

Third party publications are not prepared or approved by B M O InvestorLine Inc. (“B M O IL”) and do not meet Canadian research disclosure requirements. The opinions, estimates and projections contained in these publications are those of the author as of the date indicated and are subject to change without notice. B M O IL makes no representation or warranty, express or implied, takes no responsibility for any errors or omissions and accepts no liability for any loss arising from any use of or reliance on these publications. The provision of these publications are not to be construed as an offer to sell or a solicitation for or an offer to buy any securities. Affiliates of B M O IL may buy from or sell to customers the securities of issuers mentioned in these publications on a principal basis. B M O IL, its affiliates and/or their respective officers, directors or employees may acquire, hold or sell securities of these issuers, or related securities, or options, futures or other derivative instruments. Affiliates of B M O IL may act as financial advisor and/or underwriter for certain of these issuers and may receive remuneration. B M O IL is an indirect subsidiary of Bank of Montreal. Bank of Montreal or its affiliates may have lending arrangements with, or provide other remunerated services to, these issuers. The reader should assume that B M O IL or its affiliates may have a conflict of interest and should not rely solely on these publications in evaluating whether or not to buy or sell securities of these issuers.

Additional Notes on Information Providers:

S&P Global Market Intelligence

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI), the world’s foremost provider of credit ratings, benchmarks, and analytics in the global capital and commodity markets, offering ESG solutions, deep data, and insights on critical business factors. S&P Global has been providing essential intelligence that unlocks opportunity, fosters growth, and accelerates progress for more than 160 years. For more information, visit www.spglobal.com/marketintelligence.

These materials by Fincentric™ by S&P Global, including any software, data, processing technology, index data, ratings, credit-related analysis, research, model, software or other application or output described herein, or any part thereof (collectively the “Property”) constitute the proprietary and confidential information of S&P Global Market Intelligence or its affiliates (each and together “S&P Global”) and/or its third-party provider licensors. S&P Global on behalf of itself and its third-party licensors reserves all rights in and to the Property. These materials have been prepared solely for information purposes based upon information generally available to the public and from sources believed to be reliable.

Any copying, reproduction, reverse-engineering, modification, distribution, transmission, or disclosure of the Property, in any form or by any means, is strictly prohibited without the prior written consent of S&P Global. The Property shall not be used for any unauthorized or unlawful purposes. S&P Global Market Intelligence’s opinions, statements, estimates, projections, quotes and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security, and there is no obligation on S&P Global Market Intelligence to update the foregoing or any other element of the Property. The Property and its composition and content are subject to change without notice. Learn more about the S&P Global Terms of Use.

Standard & Poor's:

Standard & Poor's, a division of The McGraw-Hill Companies, is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. The equity research reports and recommendations provided by Standard & Poor's Equity Research Services are performed separately from any other analytic activity of Standard & Poor's. Standard & Poor's does not trade on its own account. The analytical and ethical conduct of Standard & Poor's equity analysts is governed by the firm's Research Objectivity Policy, a copy of which may also be found at www.standardandpoors.com.

Globeinvestor:

Information provided by Globeinvestor is the intellectual property of Bell Globemedia Publishing Inc. and/or its licensors. Any copying, republication or redistribution of such content, including by caching, framing or similar means is expressly prohibited without the prior written consent of Bell Globemedia Publishing Inc. Bell Globemedia Publishing Inc. and its affiliates and their respective employees and licensors assume no liability for inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon. The information has been provided by multiple data suppliers without verification by Bell Globemedia Publishing Inc. Past performance is not necessarily indicative of future performance. Prior to making any investment decision, consult directly with the relevant individual or firm and with a qualified investment advisor.

Dow Jones Indexes:

The Dow Jones IndexesSM are proprietary to and are distributed by Dow Jones & Company, Inc. and have been licensed to use. View Dow Jones Terms of Use.

Ford Equity Research

Ford Equity Research, a subsidiary of Mergent Inc., is an independent research company and is not affiliated with any investment bank or brokerage firm. Ford Equity Research, its clients and/or its employees may at times own positions in the companies described in Ford Equity Research reports. Ford Equity Research has an affiliated investment advisor relationship with Tesserae Capital Advisors, L L C. Tesserae implements investment strategies based on Ford research and is restricted from trading on new buy and sell recommendations until 24 hours after Ford's recommendations are disseminated to all clients.

The reports and the ratings contained herein were prepared by Ford Equity Research solely for the use of its clients and authorized subscribers. Reproduction or distribution of such reports or ratings in any form is prohibited without the express prior written permission of Ford Equity Research. The reports and ratings are based on publicly available information believed to be reliable. Ford Equity Research endeavors to present the timeliest and most accurate data possible, but accuracy is not guaranteed. Additional information, such as corporate actions, industry and economic factors, and other events and circumstances that may affect a Ford Equity Research rating may not be reflected in the in the data presented. This report is for information purposes only and should not be construed as an offer to buy or sell any security. Recommendations made in this report may not be suitable for all investors. Recommendations do not take into account the individual user's investment risk or return objectives or constraints. Ford is not responsible for the results of actions taken based on the information presented. Opinions expressed herein are subject to change without notice. The research process used is derived solely from a quantitative approach that uses historical data to produce a stock ranking system. Each covered stock is assigned one of five ratings based on relative scores, Strong Buy, Buy, Hold, Sell, and Strong Sell. While stocks rated Strong Buy are expected to be the best performers and those rated Strong Sell are expected to be the worst performers, there is no guarantee that such will be the case on an individual stock basis or on average. Past results are no guarantee of future results.

Morningstar:

There is no relationship between Morningstar Research, Inc., or any of its affiliated companies (collectively, "Morningstar") and the Bank of Montreal ("B M O") other than a license by Morningstar to B M O and its subsidiaries of certain Morningstar services, information, trademarks/names, for use by B M O and its subsidiaries. Such services, information, trademarks, and trade names have been created and developed by Morningstar without regard to B M O, its subsidiaries, its business, this website www.bmoinvestorline.com and/or any third party, including any prospective investor.

MORNINGSTAR DOES NOT GUARANTEE THE ACCURACY, COMPLETENESS OR TIMELINESS OF ANY SERVICES OR INFORMATION SUPPLIED BY IT OR ANY DATA INCLUDED THEREIN. MORNINGSTAR MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY B M O, ITS SHAREHOLDERS OR AFFILIATES, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE SERVICES OR INFORMATION SUPPLIED BY MORNINGSTAR OR ANY DATA INCLUDED THEREIN. MORNINGSTAR MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OR USE WITH RESPECT TO THE INFORMATION SUPPLIED BY MORNINGSTAR OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL MORNINGSTAR HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Morningstar Equity Research reports, Morningstar Credit Research reports, Morningstar Canada Core Pick List, Morningstar Canada Income Pick List, as well as mutual fund and exchange traded fund (ETF) data and certain screening tools made available through InvestorLine website www.bmoinvestorline.com and Tablet app, are supplied by Morningstar. Morningstar and/or its licensors own all right, title and interest in this material, content, data and functionality (collectively, “Information”). Unless otherwise provided in a separate agreement, you may not without the prior written consent of Morningstar: (i) use any Information outside of Canada or for any purpose other than your personal, non-commercial use, (ii) reproduce, retransmit, disseminate, sell, publish, or broadcast any Information; or (iii) use any Information in connection with creating, promoting, trading, or marketing investment products.

The Information is for educational purposes only, and should not be considered a solicitation to buy or sell any security. Recommendations included in any portion of the Information may not be suitable for all users. Recommendations do not take into account the individual user's investment risk or return objectives or constraints or personal situation. Morningstar is not responsible for the results of actions taken based on the information presented. Opinions expressed herein are subject to change without notice.

Any credit ratings made available by Morningstar as part of the Information are produced by Morningstar Credit Ratings, L L C an N R S R O registered with the U.S. Securities and Exchange Commission and a wholly owned subsidiary of Morningstar, Inc. All Morningstar credit ratings and related analysis contained herein are (i) provided solely for information purposes and not as financial, investment, tax or other advice and (ii) solely statements of opinion and not statements of fact or recommendations to purchase, hold, or sell any securities or make any other investment decisions. For important information about the definitions, methodologies, disclaimers and disclosures related to Morningstar credit ratings, please visit our methodologies page at ratingagency.morningstar.com. Morningstar credit ratings and related analysis should not be considered without an understanding and review of the preceding information at our website and any report related to the rating.

Trading Central

© Trading Central. All Rights Reserved. The information contained herein: (1) is proprietary to Trading Central and/or its content providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely; and, (4) does not constitute advice or a recommendation by B M O InvestorLine Inc., Trading Central or its content providers in respect of the investment in financial instruments. Neither B M O InvestorLine Inc. nor Trading Central nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Pricing, historical chart data and fundamental company data are provided by Morningstar Research Inc.

Technical Event® is a registered trademark of Trading Central.

Trading Central products and services are protected under U.S. Patent Nos.: 6,801,201; 7,469,226; 7,469,238; 7,835,966; and 7,853,506; and corresponding foreign patents.

Refinitiv

Market data is powered in whole or part by Refinitiv. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. Refinitiv is not liable for any errors or delays in Refinitiv content, or for any actions taken in reliance on such content. Refinitiv’s logo is a trademark of Refinitiv and its affiliated companies. www.refinitiv.com.

Internet e-mail

B M O IL requires that clients use at least 128 bit encryption (and up to 256-bit encryption) when conducting financial transactions over the Internet. We also recommend the use of up to 256-bit encryption for all non-financial transactions over the Internet. If you are a B M O IL client and wish to access your account through the Websites, ensure that you have a browser up to 256-bit encryption. If your browser doesn't operate at this level of encryption, you will likely see an "Insufficient Encryption" message when you try to sign into your account.

Absent the use of encryption, the Internet is not a secure medium and privacy cannot be ensured. Internet e-mail is vulnerable to interception and forging. B M O IL cannot ensure the privacy and authenticity of any information you send to us or that we send to you over the Internet. B M O IL will not be responsible for any damages you may incur if you communicate confidential information to us over the Internet or if we communicate such information to you at your request.

Disclaimer

From time to time, interruptions, errors or other deficiencies in service on the Websites may occur due to a variety of factors, some of which are outside the control of B M O IL and its affiliates, including without limitation, interruptions in the accessibility of the Internet, a system outage in facilities of a third party service provider, and market conditions that may result heavy demand or high volumes of trading activity. You may experience difficulties in accessing your account and in placing and cancelling orders due to the delays and errors in service or system outages.

Neither B M O IL nor its affiliates is liable to you or anyone else, for any damages whatsoever and howsoever caused (including direct, indirect, incidental, special, consequential, exemplary or punitive damages) arising out of or in connection with use of the software, systems, services or facilities used or made available on the Websites, or your ability to access or use the Websites, including but not limited to loss or damage resulting from failure of electronic or mechanical equipment or communications lines, the Internet, telephone, power failure, or third party system failure.

Software Back-up

While every effort is made to ensure that any software provided on the Websites is suitable for use on a wide variety of computer systems, you should take reasonable and appropriate precautions to scan for computer viruses, and other items of a destructive nature and ensure compatibility of the software with your specific computer systems. You should also ensure that you have a complete and current backup of the information contained on your computer system prior to installing such software.

Mutual Fund Information

Important information about the mutual funds referenced on the Websites is contained in their simplified prospectuses, copies of which may be obtained directly from the applicable fund company and which you should read carefully prior to investing. Mutual funds securities are not guaranteed nor covered by any government deposit insurer. Unit values and investment returns will fluctuate. For the money market funds, yields will fluctuate and there is no assurance that the funds can maintain a fixed net asset value. Performance data represents past performance and is not necessarily indicative of future performance.

Privacy

All information you submit to B M O IL through the Websites may be used by B M O IL in accordance with the terms of our privacy code. To view the privacy code please click on the privacy link located in the footer of the Websites.

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Protecting Your Confidentiality

In any business, privacy of personal information is desirable; in financial services, it is essential. At B M O IL we value your privacy on the Internet and think you do too, and we feel you should know:

How we protect your information

When you sign into your B M O IL account your financial transactions and your Retirement Planner session are protected by 128-bit encryption. When you create a Personal Page or sign into your Personal Page your session is protected by 40-bit or 128-bit encryption, depending on the type of browser you are using.

Encryption is a means of scrambling information for transmission, in this case, between your PC and B M O Bank of Montreal's computing systems. Information that is encrypted at one end is decrypted (decoded) upon receipt at the other end.

128-bit encryption is the strongest, most secure form of encryption that is generally available in Internet browsers on the market in North America today. B M O IL and B M O Bank of Montreal require that our clients use 128-bit encryption when conducting financial transactions over the Internet. We also recommend the use of 128-bit encryption for all non-financial transactions over the Internet, e.g. the use of the Personal Page section on the Websites.

How we use the information that you provide to us

Information you provide during the registration process for the Personal Page of the Website is collected and stored by B M O IL. The information you provide may be used:

How you can opt-out, update or delete your information from our database

If at the time of registration for the Personal Page, you had indicated that you would like us to send you updates on site developments or on new products and services, B M O IL may send you these updates by email or mail. If you decide at any time that you do not want to receive these updates or if you want us to delete your information from the Personal Page, simply call us at 1-888-776-6886 during our business hours from 8:00 a.m. - 8:00 p.m. ET, Monday to Friday.

If you have any questions or concerns about how we protect your confidentiality, feel free to email us.

In addition, B M O IL also abides by B M O Bank of Montreal's Privacy Code.

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Use of Cookies

Certain pages in the Websites make use of "cookies" or information-tracking technologies. A cookie is a small text file that is placed on your computer's hard drive by a website, in this case the Websites. Cookies are useful because they are stored and can be read back by the website that placed the cookie. The website can then present web pages that you have personalized with information that you want to see. For example, if you have ever signed up for a 'stock watch list' on the Internet, the information is likely being presented by the use of a cookie.

B M O InvestorLine's use of cookies

B M O IL uses cookies in a number of locations. For example, cookies are used to allow you to save your search results when you use our stock screening tools. Additionally, we may use pixel tags (also known as clear gifs) and cookies in promotional email messages and online advertising. These tools allow us to measure the effectiveness of our advertising and promotional campaigns, to improve the functionality or security of the Websites, and to provide you with a more customized on-line experience.

Cookies are widely used and most web browsers are configured to accept cookies automatically. You may determine if and how a cookie will be accepted by your computer by choosing specific 'preferences' or 'options' in your computer's browser. However, please note that cookies must be enabled in order to use certain features within the Websites and that cookies cannot capture files or data stored on your computer.

Important notice: Certain cookies may collect personally identifiable information to determine who you are, or capture your e-mail address. If you are using a shared or public computer, please ensure you clean out the cache after you finish your session. This ensures the information stored by the use of cookies is not visible for the next user.

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Trademarks Belonging to B M O IL, B M O Bank of Montreal or Other Entities

Certain names, graphics, logos, icons, designs, words, titles or phrases on the Websites may constitute trade names, trademarks or service marks of B M O IL, B M O Bank of Montreal or other entities. Trademarks may be registered in Canada and in other countries as applicable. The display of trademarks on pages at the Websites does not imply that a license of any kind has been granted. Any unauthorized downloading, re-transmission or other copying or modification of trademarks and/or the contents herein may be a violation of federal or common law, trademark and/or copyright laws and could subject the copier to legal action.

TM -- B M O InvestorLine 5 Star Program, Intuition, Instabank EXTRA are trademarks of Bank of Montreal.

® -- B M O (M-bar roundel symbol), First Canadian, FirstBank, FirstBank Card, FundFinder, Instabank, InvestorLine, AccountLink, FundSolutions are registered trademarks of Bank of Montreal.

®* -- Bank of Montreal is a licensed user of the registered trademark and design owned by MasterCard International Inc., the INTERAC trademark of Interac Inc., and the Cirrus trademark of Cirrus System, Inc.

®? -- Microsoft, Windows, Windows N T, M S N, The Microsoft Network and/or other Microsoft products are either trademarks or registered trademarks of Microsoft.

®** -- Apple, Mac, and Macintosh are trademarks of Apple Computer, Inc., registered in the U.S. and other countries.

B M O Wealth Management is the brand name for a business group consisting of Bank of Montreal and certain of its affiliates in providing wealth management products and services.

All other product and service marks mentioned on the Websites are the trade-marks of their respective owners. All B M O IL trademarks used on the Websites are used under license.

Copyright B M O InvestorLine 2013

B M O IL either owns the intellectual property rights in the underlying H T M L, text, images, audio clips, video clips, software and other content that is made available to you on the Websites, or has obtained the permission of the owner of the intellectual property in such content to use the content on the Websites. You acknowledge that all information made available to you on the Websites is proprietary to B M O IL or to the appropriate information supplier and is protected by copyright law and other applicable intellectual property laws.

B M O IL grants to you its limited permission to display on your computer, print, download and use the underlying H T M L, text, images, audio clips, video clips, software and other content that is made available to you on the Websites, for non-commercial, personal, or educational purposes only, provided that:

  1. you do not modify any such content, and
  2. you include with and display on each copy of such content the associated copyright notice and this intellectual property notice.

No other use is permitted. Without limiting the generality of the foregoing, you may not:

  1. make any commercial use of such content;
  2. use or permit anyone else to use such content for any unlawful or unauthorized purpose;
  3. include such content in or with any product that you create or distribute; or
  4. copy such content onto your or any other person's web page.
  5. authorize or permit such content be reused or retransmitted without prior written approval of the source of such information or software.

Notwithstanding the above, nothing contained in this Section shall be construed as conferring any right or licence under any copyright of B M O IL or any other person who owns the copyright in content provided on the Websites.

Copyright © 2013 B M O InvestorLine Inc. All rights reserved.

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Use Appropriate Safeguards

Your personal information is secure within B M O Financial Group, regardless of the format in which it is held. We have comprehensive security controls to protect against unauthorized use, access, alteration, duplication, destruction, disclosure, loss or theft of your personal information.

We maintain physical, electronic and procedural safeguards to protect your personal information. Examples of safeguards include restricted access to our information processing and storage areas, limited access to relevant information by authorized employees only, use of passwords, PINs and pass keys, firewalls and encryption of electronically transmitted information, and the use of secure locks on filing cabinets and doors.

We have agreements and controls in place with credit bureaux, credit insurers, other lenders and third party service providers requiring that any information provided by us must be safeguarded and used only for the sole purpose of providing the service we have requested the company to perform.

Within B M O Financial Group websites, cookies or other information-tracking technologies may be used to improve the functionality or security of websites, or to provide you with a more customized online experience. Please note that cookies cannot capture files or data stored on your computer.

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Important Information About Alerts

The B M O InvestorLine Alerts service is a free computer online service that provides notifications to users of various customizable events, such as stock and news information ("Alerts").

By signing up to receive Alerts you acknowledge that you are aware of and agree to abide by the following terms and conditions:

Privacy & Security

Alerts are 'e-mails' sent over the Internet and through wireless networks that are not encrypted. As Alerts are sent unencrypted it is possible that they may be viewed by others.

Special Warning Regarding Financial Matters.

Prior to the execution of a trade or other transaction based on information contained in Alerts, you should verify the information provided in the Alerts.

Delivery Capability

It is your responsibility to determine if your service provider supports text messaging and your device is capable of receiving text messages.

Network Provider Fees

You are responsible for any and all fees imposed by your internet and/or cellular phone service provider.

No Guarantee of Delivery

We neither guarantee the delivery nor the accuracy of the contents of Alerts. Alerts may be delayed or prevented from being received by factors affecting your cellular phone service provider, internet service provider and other factors outside our control.

Release and Indemnity

YOU AGREE NOT TO HOLD B M O IL RESPONSIBLE FOR ANY LOSSES OCCURRING FROM USE, OR FAILURE OF, THIS SERVICE. B M O IL PROVIDES ALERTS AS A CONVENIENCE TO YOU ON AN "AS IS" AND "AS AVAILABLE" BASIS FOR INFORMATION PURPOSES ONLY, AND DOES NOT MAKE ANY WARRANTY AS TO THE RELIABILITY, ACCURACY OR TIMELINESS OF ALERTS, OR THAT ALERTS WILL BE PROVIDED UNINTERRUPTED OR ERROR-FREE.

B M O IL SHALL NOT BE LIABLE, FOR ANY ERRORS, INACCURACIES, OMISSIONS, OR OTHER DEFECTS IN, OR UNTIMELINESS OF ALERTS, OR FOR ANY DELAY OR INTERRUPTION IN THE TRANSMISSION TO YOU, OR FOR ANY CLAIMS OR LOSSES ARISING THEREFROM OR OCCASIONED THEREBY. YOU AGREE TO INDEMNIFY AND HOLD B M O IL, AND ITS SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, AND EMPLOYEES, HARMLESS FROM ANY CLAIM OR DEMAND, INCLUDING REASONABLE ATTORNEYS' FEES, MADE BY ANY PARTY DUE TO OR ARISING OUT OF YOUR USE OF ALERTS.

Important Legal Notices on Mutual Funds Online and Mutual Fund Investing:

  1. Past performance is not an indication of future returns. Mutual Fund unit/share values, yields and investment returns will fluctuate. The performance of a mutual fund over any previous period is not a guarantee of future results. The principal value and the unit/share price will fluctuate with changes in the market conditions. Your original investment may be worth more or less than your cost when you redeem the units/shares.
  2. Read the prospectus of the fund you are buying. A prospectus must be sent to you when you make your first purchase of any fund. The simplified prospectus contains important information such as the fund's objectives, strategies, risks and expenses charged to the fund by the fund manager. It is important to read the prospectus carefully before you invest to ensure that the fund's goals and potential risks are consistent with your own. Mutual Fund investment units/shares are not insured by the Canada Deposit Insurance Corporation or the Régie de l'Assurance-dépôts du Québec or by Bank of Montreal.
  3. Reliability of information. B M O IL's Mutual Funds Online service is provided for information purposes only. It is not intended to provide legal, investment, accounting or tax advice, and should not be relied upon in that regard. If you require legal or investment advice, please obtain the services of a competent professional. While the information supplied by Morningstar Canada and Chand Carmichael & Company are deemed to be reliable, B M O IL has not independently verified any such data and does not guarantee its accuracy or suitability for any purpose. Morningstar Ratings are provided by and are the sole responsibility of Morningstar Canada.
  4. Tax Implications. As a mutual fund investor, you may receive taxable distributions from your mutual funds. These taxes can affect the actual returns you may realize from your investment. We at B M O IL do not offer tax advice except to say that you should consider the impact of taxes before you invest. Please consult your tax advisor with any questions you may have in this regard.
  5. Sale Charges, Fees, and Performance. B M O IL is not responsible for any information relating to the investment performance of a mutual fund such as ratings, rankings, quotations, analysis on rates of returns, volatility or any other measurement of performance as presented. Management fees charged to any mutual fund will vary according to the fund and the fund manager. While performance data usually reflects the fees charged to the fund, some managers may waive a portion of their fees over a period of time. This waiver would have the effect of increasing the fund's reported returns and should be considered when evaluating the fund's performance.
  6. Fund Registration. Not all mutual funds are registered for sale in all provinces. Any communication relating to mutual funds does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should consult with their financial advisor to determine if these securities may lawfully be sold in their jurisdiction.
  7. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus of the mutual funds before investing, including the mutual funds in the model portfolios. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of return are the historical annual compounded total returns, including changes in unit value and reinvestment of all distributions, and do not take into account sales, redemption, distribution, or other charges or income taxes that may have reduced returns.
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InSite Newsletter

InSite is published quarterly by B M O IL, and is distributed with B M O IL account statements. To tell us your story or to request additional copies of this issue, please send an email to: @bmoinvestorline.com.

Please send comments and suggestions to insite@bmoinvestorline.com or mail to: The Editor, B M O InvestorLine InSite, First Canadian Place, 100 King St. W., 41st Floor, Toronto, ON M5X 1H3.

The articles in this newsletter are prepared as a general source of information. They are not intended to provide legal, investment, accounting or tax advice, and should not be relied upon in that regard. If legal or investment advice, or other professional assistance is needed, the service of a competent professional should be obtained. The information contained in this webcast is based on sources believed to be reliable, but its accuracy cannot be guaranteed. The views expressed and information provided in the articles are attributable solely to the authors.

Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus of the mutual funds before investing, including the mutual funds in the model portfolios. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of return are the historical annual compounded total returns, including changes in unit value and reinvestment of all distributions, and do not take into account sales, redemption, distribution, or other charges or income taxes that may have reduced returns.

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The Applications

As consideration for your continuing compliance with and agreement to be bound by the Terms and Additional Terms, we hereby grant and you hereby accept a limited, non-exclusive, non-transferable, non-assignable license to use the Applications (which shall include future updates made available to you from time to time, provided you understand that such updates may be subject to additional terms in respect of which you will be notified at the time such update is made available) to access your account(s) at B M O IL from your mobile device, subject to the Terms and Additional Terms.

The following terms apply if you access Online Services using an Application ("Mobile Services"):

You must be a B M O IL client with a valid, active and funded B M O IL account in good standing. You will not have access to all of the same services, features, functionality, content or information through Applications as you may through Online Services (including your online message centre, notices, legal and privacy terms, links, bills, statements and complete transaction and account information) and you must access Online Services through a technology other than the Applications on a regular basis to access the services, features, functionality, content and information of such Online Service.

You may only use the Applications on mobile devices that are authorized by B M O IL as being eligible to receive the Mobile Services.

You will only use the Mobile Service and the Applications solely and exclusively for your own personal, private, non-commercial use and on registered mobile devices belonging to you.

You will at all times comply with (and your use of the Mobile Service and the Applications will at all times be in compliance with) all applicable laws, rules and regulations, including, without limitation, applicable export and import control laws and regulations, and you will not knowingly allow any other party to use the Mobile Service or the Applications for or in connection with any illegal purpose or activity. The Applications are not intended for distribution or use by any person in any jurisdiction or country where such use and/or distribution would be contrary to local laws, rules and/or regulations. It is your responsibility to comply with all local laws, rules and/or regulations.

You may only use the Applications for the purpose of accessing the Mobile Services and for no other purpose whatsoever.

The Applications are licensed only to you in accordance with the terms hereof and for the limited purposes set out herein.

You will compensate B M O IL in respect of any damages suffered by B M O IL and any losses or liabilities incurred by B M O IL as a result of any and all claims, demands, actions, proceedings, losses, liabilities, damages, costs, fees and expenses (including, without limitation, reasonable attorney fees and costs of any investigation) (collectively, the "Claims") from any third party in relation to any matters arising out of or in any connected with: (a) your use of the Mobile Services, (b) your breach of or failure to comply with any of the Terms or Additional Terms, (c) your failure to comply with any applicable laws, rules or regulations, and (d) any negligence, bad faith, fraud or willful misconduct by or on behalf of you.

Use of the Mobile Services (including the Applications) is at your own risk and you are solely responsible for the use of any data, information or services obtained through the use of the Mobile Services, and any investment losses that may result.

The Mobile Services are provided as a convenience to you.

You will comply at all times with all technical and security requirements which we establish regarding the Mobile Services.

In the event that you fail to comply with the Terms or Additional Terms or your account(s) at B M O IL are closed, all rights granted to you in relation to the Applications and the Mobile Services shall immediately come to an end and you will immediately destroy all copies of the Applications.

You will not:

  1. alter, modify, adapt or translate the whole or any part of the Applications, or any other computer software made accessible to you or otherwise used by you to access and use the Mobile Services, or perform maintenance on the Application, nor will you duplicate, compile, disseminate, reverse engineer, disassemble, decompile, disable any features, or otherwise derive the source code for the Applications, or any component of the Applications, in whole or in part;
  2. merge the Applications or any component thereof into any other programs or create derivative works based on any component of the Applications;
  3. use the Applications in whole or in part or any confidential information relating thereto to create software that is functionally equivalent to the Applications or any part thereof;
  4. license, sublicense, sell, disseminate, broadcast, transmit, or otherwise distribute the Applications or the Mobile Services in any form or by any means, or otherwise transfer, assign, manipulate, or grant any rights of use or any other rights in respect of the Applications or the Mobile Services, or any part thereof, or the information contained therein, to any other party;
  5. copy the Applications or the information accessible through the Mobile Services onto any public or publicly accessible network, or make any additional copies of or reproduce in any way the whole or any part of the Applications or the Mobile Service whatsoever;
  6. remove or tamper with any proprietary notices or labels, including copyright notices or data source attributions, attached to or contained within the Applications or the Mobile Services;
  7. use the Applications or the Mobile Services in any way that may lead to the encouragement, procurement or carrying out of any unlawful or criminal activity or which may cause any harm or injury to any person; or
  8. cause damage to any of the websites, servers, systems or equipment used in the provision of the Mobile Service by B M O IL or any other third party, and you may not access or attempt to access any user data or to penetrate any of the security measures relating to the Mobile Services; and will in all cases indemnify and hold harmless B M O IL and its affiliates from any and all Claims in respect thereof.

There may be important terms and conditions that are displayed only when you click on information icons or links within an Application. You must access and read those terms and conditions.

The Applications may not be available for use in locations outside of Canada and the United States. You are responsible for any fees imposed by a service provider that you might incur by accessing the Applications.

The Mobile Services may be adversely affected by the performance of and any outages on mobile device networks, or when you are not in an area of mobile coverage, or other factors beyond the control of B M O IL or any of its affiliates or any third party, and neither B M O IL nor its affiliates will be liable therefor.

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Email

Email communications including any information transmitted with it is intended only for the use of the addressee(s) and is confidential. If you are not an intended recipient or responsible for delivering the message to an intended recipient, any review, disclosure, conversion to hard copy, dissemination, reproduction or other use of any part of this communication is strictly prohibited.

We never send you messages asking requesting personal or account information via email (i.e. phishing). See email scams and "phishing" for more information. If you do receive such an email that appears to be from B M O IL, please contact us directly at 1 888 776-6886. IMPORTANT: Emails you send to us are not encrypted. Do not send us any personal information (example: account numbers and/or passwords) by Internet email.

Our emails are prepared as a general source of information. They're not intended to provide legal, investment, accounting or tax advice, and should not be relied upon in that regard. If legal or investment advice or other professional assistance is needed, the service of a competent professional should be obtained.

Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus of the mutual funds before investing, including the mutual funds in the model portfolios. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of return are the historical annual compounded total returns, including changes in unit value and reinvestment of all distributions, and do not take into account sales, redemption, distribution, or other charges or income taxes that may have reduced returns.

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Webcasts

The opinions and views expressed in the webcast presentations are that of the speaker and not B M O IL. Any strategies discussed, including examples using actual securities and price data, are strictly for illustrative and educational purposes only and are not to be construed as an endorsement, recommendation, or solicitation to buy or sell securities. Past performance is not a guarantee of future results.

The statements in these presentations are prepared as a general source of information. They are not intended to provide legal, investment, accounting or tax advice, and should not be relied upon in that regard. If legal or investment advice or other professional assistance is needed, the service of a competent professional should be obtained. The information contained in this webcast is based on sources believed to be reliable, but its accuracy cannot be guaranteed.

Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus of the mutual funds before investing, including the mutual funds in the model portfolios. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of return are the historical annual compounded total returns, including changes in unit value and reinvestment of all distributions, and do not take into account sales, redemption, distribution, or other charges or income taxes that may have reduced returns.

Questions or Concerns

If you have a question or problem about any service or fee, we will be pleased to hear from you, you can:

If you still cannot resolve a specific problem, you can write to:

President
B M O InvestorLine Inc.
P.O. Box 1, First Canadian Place
Toronto, Ontario
M5X 1A1

OR

Vice-Chairman
Private Client Group
P.O. Box 1, First Canadian Place
Toronto, Ontario
M5X 1A1

Governing Law

These Terms and Additional Terms, including those regarding your use of the Websites, Online Services or the Applications, shall be governed by, construed and enforced in accordance with the laws of the Canadian jurisdiction in which you have accessed the foregoing and the federal laws of Canada applicable thereto.