Global Treasury Management

1. Global Treasury Management Revised June 2012

2. About BMO

3. BMO Financial Group Overview Established in 1817 as Canada’s first chartered bank Ranked 8th largest bank in North America by total assets of US $532 billion1 Offering a full range of personal and commercial banking, wealth management, correspondent, investment and corporate banking services in Canada and the U.S. Serving over 12,000,000 clients, small and large, throughout North America Serving over 800 correspondent banking relationships across 130 countries throughout the globe Serving over 40 Schedule I, II and III Banks and Credit Unions in a Direct Clearing banking partnership Nearly 1600, Branches and offices – 900+ Canada and International; 650+ in the United States 1. Source: (SNL Financial, 05/31/12)

4. BMO Financial Group F2011 Net Income by Operating Group Key Operating Data Private Client Group Personal & Commercial Banking Market Cap* US$38 billion Total Assets* US$532billion F2011 Revenue US$13.6 billion Employees* 46,500+ *As at April 30, 2012 BMO Capital Markets CORPORATE FINANCE • Initial Public Offerings • Follow-on Offerings • Convertible Securities • Mezzanine Lending • High-Yield Debt • Investment-Grade Debt • Corporate Lending • Securitization • Private Placements SALES & TRADING • Institutional Sales • Trading • Equity Research • Fixed Income Research • Investor Marketing • Investor Conferences • Account Sponsorship • Retail Distribution TREASURY SERVICES • Cash Management • Risk Management • Asset Management • Foreign Exchange • Trade Finance ADVISORY SERVICES • Mergers & Acquisitions • Strategic Advisory • Fairness Opinions • Takeover Defense • Share Buybacks • Valuation Analysis 3

5. Global Treasury Management at BMO Capital Markets Sophisticated web-based treasury management platform with 15,000 Online Banking for Business customers, and 50,000 Online Banking for Business users Global service and solutions Extensive payment, receivables and information reporting capabilities Actively shaping the future of the payments industry: Member of Canadian Payments Association, NACHA and American Bankers Association Founding partner of Symcor and Moneris, leading providers of payment processing Full-service treasury management provider for over35years

6. Our Solutions

7. What Sets Us Apart Commitment to service Continued investment in our business Experience, cross-border expertise and scale Global solutions High quality, proven solutions Customizable solutions that produce highly-satisfied customers Highly-satisfied customers Trusted treasury management advisor Superior service. Working capital expertise. Innovative solutions.

8. Information Solutions

9. Information Solutions Online Banking for Business

10. Online Banking for Business supports full single sign on and private label functionality enhancing the end client experience Online Banking for Business Overview • Online Banking for Business is a web-based cash management solution • Real-time account information (mech accounts only) • Single source for all treasury management products and reports • Flexible administration tools • Ability to designate multiple users and approvers • Receive Alerts • Make timely and informed business decisions • Save time with easy, anywhere access • Gain added security and control • Only need a PC and an Internet connection • You can choose the services you need today and add modules as your business needs change

11. Online Banking for Business: Our Web-Based Treasury Management Platform Online Banking for Business features: Account Information e-Statements Account Transfers AutoConnect Stop Payments Electronic Funds Transfers Tax and Bill Payments File Transfers & Cross-Border Transfers Centralised Customer Self-Administration DirectCheque Stops and Inquiries Wire Payments Check Image Search Bulk Image File Delivery Archiving Alerts & Notifications Select the modules you need today and add services as your business needs change

12. Online Banking for Business: Benefits Increased control • Timely information allows customers to make informed business decisions • Customers can control their own administration by setting up and deleting users in seconds, as well as resetting user passwords Convenience • Allows customers to access their account information and perform transactions around the clock - from their own PC • Customers can receive all of their cash management reports electronically through file transfer facility Flexibility • Tailor services to match their specific needs • Choose only the modules they need today and add modules as their business grows Security • Online Banking for Business uses 256-bit encryption, the strongest form of encryption generally available in Web browsers today • Requires 2 levels of user IDs and passwords • Ability to limit user access by account, report template, transaction type and dollar amount

13. Online Banking for Business: Our Web-Based Treasury Management Platform Flexible administrative tools allow you to: Set up and delete users, reset passwords Set up alerts and notifications of incoming, outgoing and pending transactions, exception items, available statements, user information and balance thresholds Create customized user profiles and assign access to accounts and service modules Set dollar amount limits and approval requirements on payments Generate admin reports that allow you to comply with SOX requirements by tracking all admin changes and documenting user entitlements Automate and schedule the secure downloading of Online Banking for Business reports The Online Banking for Business platform maintains a multi-level security system that includes: Minimum 256-bit encryption, firewalls and system controls Two sets of user IDs and passwords; mandatory password changes Up to 3 administrative approvals An authentication device for payments System time-outs for inactivity and log outs for incorrect password attempts Optional Security Features: Limit administrators to have Administrative Privileges only Add Multiple Approvals for all administrative changes Comprehensive administrative and security features put you in control

14. Connecting to the Bank – High Speed Connectivity • BMO launched new high speed connectivity options to exchange files with customers. The new options are offered in conjunction with GXS (Global eXchange Services). • Supporting the most widely used communication protocols including AS2, Secure FTP, and VPN; GXS is able to meet and exceed our customers robust needs. • GXS offers special connectivity that customers currently do not receive via Online Banking for Business FTF (e.g. scripting). New options address the needs of both large corporate customers and small businesses who require automated file exchange. • These features help our customers to automate file exchange with much needed confidentiality, speed, integrity, and authentication of transferred data • New options address the needs of both large corporate customers and small businesses who require automated file exchange

15. File Connectivity - Benefits • Improved, Dependable, and Secure access anytime anywhere via the internet • Increased Flexibility and Time Saving by automating file and report processing • Improved Integration and Cost Savings for companies of any size by using the latest industry standard business to business technology • Customers may select from various connectivity options offering real time communication • Manual operator may not be required; therefore minimizing the risk of file manipulation (SOX compliance)

16. GXS vs FTF

17. Payables Solutions

18. Payables Solutions

19. DirectCheque A low cost, fully automated check processing and reconciliation service designed for businesses that issue a high volume of checks Features Checks are cleared and sorted by serial number Our check validation service combines: Positive Pay option matches check serial numbers and amount to your issue file Optical Character Recognition used to match the recipient name and address in your issue file Make decisions to accept or return checks online Reconciliation reports are produced to coincide with your accounting cycle Benefits Streamline check processing and reconciliation Mitigate the risk of fraud Mitigate check fraud through the use of Positive Pay Checks issued Daily file sent to BMO Once checks are cleared, the cancelled checks and paid item file is returned to you

20. Firstbank Automated Clearing System (FACS) A convenient and efficient alternative for check clearing that employs high-speed check reading technology for clearing and processing Features Receive a Paid Item File (PIF) detailing paid check information on a next day basis Choose from numerous reporting options available, both paper-based and electronic Choose to have cleared items returned daily or checks retained at the Bank for up to 30 days Thousands of images received of your cleared checks via our bulk image delivery service Benefits Maintain control over check verification, returned items and stop payments Facilitate accurate record keeping A check clearing alternative for large volume check issuers Checks are processed by the Bank using high-speed check clearing and MICR technology Cleared checks are sorted in date, amount or check serial number order and packaged for client pick up, dispatched directly or retained by the Bank for up to 30 days Paid Item File is available in hard copy or via any of the supported electronic file connectivity options

21. Electronic Funds Transfers (Credits) A convenient and cost-effective way to electronically credit employee and supplier accounts at any Canadian financial institution in Canadian or US dollars Features Create electronic payments and transmit files via the Online Banking for Business platform Perform online tracing, corrections and recalls through a single application Recall individual credits, batches or whole payment files Reports are delivered electronically Benefits Control timing of payments Reduce operational costs Reduce the risk of late payments Most robust range of post-file delivery functions available in the Canadian market You send payment files to BMO Financial Group Access a full range of online post-file delivery functions via Online Banking for Business Funds are deposited directly to payee accounts at BMO or other financial institutions

22. Outbound Wire Payments A comprehensive wire payments management service that enables you to initiate Canadian and US dollar wire payments easily and efficiently from your office computer. Features Send one-time payments or create payment templates for recurring transactions Import wire payment instructions Future date payments up to 30 days in advance Receive customized summary and detail reports Provides full control over outgoing wires, post transaction amendments, cancellations and investigations Approve and release wire payments through your iPhone or Blackberry Benefits Finality of payment Increase security and control Send payments quickly and easily from your PC Send Canadian and U.S. dollar wire payments from your PC You submit payment instructions to BMO Financial Group electronically BMO Capital Markets processes your payment instructions and forwards the funds to the payee’s financial institution

23. Tax and Bill Payments Fully web-enabled through the Online Banking for Business Platform • An easy and convenient way to submit utility and corporate bills, as well as Federal and Provincial tax payments via the Internet Features • Convenient web access • Easy-to-use payment templates • Enter payment details by midnight the day before due date or up to one year in advance • Receive tax refunds faster, right into your account. Benefits • Control timing of payments • Reduce the risk of late payments • Reduce paperwork • Simplify record keeping and reconciliation Submit utility and corporate bills, federal and provincial tax payments electronically and track payment details online

24. Check Image Search: Flexible search options Download and print options Archive available as far back as 100 days CD/DVD ROM: Easily search, retrieve, view, download and print images of processed checks individually or in batches Choice of CD (up to 15,000 images) or DVD (up to 100,000 images) Encrypted images offer increased security Bulk Image Delivery Daily, electronic delivery of check images Optional (PGP) Pretty Good Privacy file encryption available for extra internet security Images can be accessed in a variety of ways: online, via CD/DVD; or via electronic file delivery Imaging Services

25. Payables Outsourcing A fully automated payment processing service that offers the flexibility of initiating paper and electronic payments through a single file Features Send a single payment file to execute multiple payment types Payment files are validated for accuracy Receive summary and detail reports online Digitized signatures and printed checks are held under dual custody Benefits Streamline payment processing Mitigate the risk of check fraud Reduce check printing costs Streamline payment processing by initiating paper and electronic payments through single file You send a payment file to BMO Financial Group We process and deliver the payments in the requested format Vendor • Wire transfers • EFT – BMO (CDN/US) • ACH – Harris (US) • Financial EDI – BMO (CDN) • Financial EDI – Harris (US) • Check printing

26. EDI Origination A computer-to-computer electronic business exchange that facilitates the electronic payment of funds and related payment data Features Choose from several remittance data delivery options without having to be EDI-capable Send payments and supporting documentation on the value date Benefits Control timing of payments Reduce processing costs and errors Improve trading partner relationships Electronically submit payments and accompanying details to your business partners You send the payment file and remittance advice to BMO Financial Group Vendor Funds and supporting information are then forwarded to the payee’s financial institution

27. Receivables Solutions

28. Cash Concentration – Between BMO Accounts Consolidate deposits into your central BMO business account for fast, convenient access to your funds. Features Deposits are automatically consolidated Deposits can be made at select BMO Bank of Montreal branches Detailed consolidation reports are available online A 25-character alpha-numeric message field provides supporting information Benefits Receive immediate access to funds Minimize excess balances Monitor deposit activity of individual outlets Improve cash flow by consolidating deposits from multiple locations into a central account The deposits are automatically moved to your central BMO account Your outlets deposit funds at selected BMO branches Receive detailed consolidation reports

29. Cash Concentration – Between Financial Institutions Consolidate deposits made at any Canadian deposit-taking institution into your BWB account – by phone or web. Your business outlets can deposit funds at the nearest financial institution, while you retain quick and easy access to your funds Features DrawCheque transfers can be completed online or via a toll-free IVR system 24x7 access via the web; extended hours access to the IVR system Same day value for payments received by 7:00 PM ET Funds are are deposited into your account three times each day Third-party transfers between B2B relationships for Accounts Receivable purposes Benefits Enjoy convenient and cost-effective deposit management and funds concentration Access comprehensive on-line reports and 90-day rolling archive Minimize risk with advanced security controls and optional dual-authorization Control access through user-friendly online administrative tools Conveniently and cost-effectively consolidate deposits into a central BMO account

30. Electronic Funds Transfers (Debits) A convenient and cost-effective way to electronically debit your customers’ accounts at any Canadian financial institution in Canadian or U.S. dollars Features Create electronic debits and transmit files to the bank online Perform online tracing, corrections and recalls through a single application Reports are delivered online Recall individual debits, batches or whole payment files Benefits Control the timing of payments Increase operational efficiencies Improve customer relations Most robust range of post-file delivery functions available in the Canadian market You send payment files to BMO Financial Group detailing your pre-authorized debits Access a full range of post-file delivery functions via Online Banking for Business Funds are automatically debited from your customers’ accounts on the value date and deposited into your BMO account

31. Wholesale Lockbox An automated receivables processing solution that accelerates your B2B check-based remittances and consolidates deposits into a single account Features Multiple processing sites across Canada Funds are consolidated into a single account Receive detailed transaction reports and daily deposit advice packages Access and retrieve images online Receive thousands of images at a time via our bulk image delivery service Benefits Reduce mail float Reduce processing costs and effort Consolidate deposits into a single account Convenient imaging options online, CD-ROM or Bulk Image Delivery service Improve cash flow by automating the processing of your check-based remittances Checks and supporting payment data are mailed to strategically located Canada Post postal stations BMO collects payments directly from Canada Post and processes them for same-day credit Receive a daily file with all remittance data information

32. Remittance Consolidation A flexible receivables service that consolidates paper and electronic payments made through BMO or other Canadian financial institutions Features Receive same-day credit for all payments made through BMO Consolidate payments made at other financial institutions Receive a daily payment report and/or file Benefits Consolidate funds from multiple sources and deposit to single account Reduce manual payment processing Reduce the incidence of late payments Receive same business day value for all payments made through BMO • Your customers submit payment by: • Internet • Telephone • ABM • Branch Receive daily file with all remittance data information The funds are credited directly to your BMO account

33. Turn the manual process of dealing with chargebacks into an easy automated process. Electronic Chargebacks • Receive electronic notification of chargebacks that occur when a check you deposited to your business deposit account is returned by your payer's bank. Features • The Electronic Chargeback file captures the reason the check was returned, the name of the payer and MICR information of checks. • A Null File is delivered if there were no chargeback check for that processing day. • Continue to receive a Return Item Advice for any dishonored items. Benefits • Turn the manual process of dealing with chargebacks into an easy automated process. • Be quickly notified of returned items and easily update your own database with information on the items that have been returned to you. • Decision your checks faster. • Collect funds owed faster and better manage your cash flow. • More easily flag potential bad accounts and possibly hold back shipments • Continue to receive a physical copy of: • Chargeback Images • Black and white • Front and back • Chargeback Advices • Provides reason for return • Includes advice # 32

34. Incoming Wire Payments A convenient way to receive customer payments electronically from both domestic and international locations Features Domestic and international payments Multiple notification options through FAX, Online Banking for Business and others. Up to 140 characters of reference information Full amount of wire payment credited with fee charged as a separate transaction Benefits Receive irrevocable payments from anywhere in the world Track and identify payments easily Receive domestic and international payments quickly and easily Funds are wired to BMO from anywhere in the world … receive an optional faxed payment advice immediately The incoming funds are credited to your account as soon as they are received by the bank …

35. EDI Collections A computer-to-computer electronic business exchange that facilitates the electronic collection of funds and related payment data Features Choose from several remittance data delivery options without having to be EDI-capable Receive funds and supporting documentation on the value date Benefits Improve cash flow Eliminate manual processing Improve trading partner relationships Receive payments and accompanying details from your business partners electronically Payor Payor’s FI The payor transmits the payment file and remittance advice to their financial institution Funds are then transferred to BMO and credited to your BMO account You view payment information via an electronic file or by fax

36. One-stop shop for all your mapping needs Customization Customized Information Delivery • BMO’s expert advisory service that reviews your multiple data sources and recommends a quick and easy integration solution with output files or reports tailored to your specifications. • Performed entirely by BMO’s IT mapping team freeing up your internal resources • Supports informed decision making with targeted management reports • A streamlined process delivers: • Reduced costs through automation and ERP integration • Seamlessly integrated data with your existing in-house accounting software and systems • Improved capabilities to accelerate data exchange and reduce barriers to partnerships • Ability to monitor transaction data end-to-end • Can reduce delays and errors created by multiple application, system fixes and patches • Can deliver reports based on preferred format and/or map to an industry standard externally such as XML • Convenience and Security - can be combined with our existing BMO line of products i.e. EFT/Wires/DCH/EDI/others and secure high-speed transmission methods i.e.: GXS with PGP encryption option or FTF (File Transfer Facility) 35

37. Appendix

38. Keeping you informed is our business Industry Trends Technology Market • Web-based service delivery platforms • Image technology initiatives • Connectivity and integration challenges associated with web services (STP) • Paper to electronic payment conversions • Corporate treasury centralization & “in-house” banking • Business process outsourcing (BPO) of treasury functions • Service provider consolidation – consultative partnerships with preferred vendors • Cash flow visibility through treasury automation Regulatory • Sarbanes Oxley – Implications for Canadian organizations • Evolving role of the CPA in the technology-driven payments arena

39. CPA Rules Regarding Check Fraud

40. CPA Rules Regarding EFT Exceptions 39

41. BMO – Your Partner in Fighting Fraud • Web-based treasury management – Online Banking for Business: • Access management • Session management • User management - transaction, account and user thresholds and controls • Secure transactions • File confirmation • Payables Plus – payables automation and outsourcing – EFT, EDI, wires, check • Positive Pay/Reverse Positive Pay – check fraud prevention tools • Check imaging 40

42. Disclaimer These materials are confidential and proprietary to, and may not be reproduced, disseminated or referred to, in whole or in part without the prior consent of BMO Capital Markets (“BMO”). These materials have been prepared exclusively for the BMO client or potential client to which such materials are delivered and may not be used for any purpose other than as authorized in writing by BMO. BMO assumes no responsibility for verification of the information in these materials, and no representation or warranty is made as to the accuracy or completeness of such information. BMO assumes no obligation to correct or update these materials. These materials do not contain all information that may be required to evaluate, and do not constitute a recommendation with respect to, any transaction or matter. Any recipient of these materials should conduct its own independent analysis of the matters referred to herein. “BMO Capital Markets” is a trade name used by BMO Financial Group for the wholesale banking businesses of Bank of Montreal, Harris N.A. and Bank of Montreal Ireland p.l.c., and the institutional broker dealer businesses of BMO Capital Markets Corp., BMO Nesbitt Burns Trading Corp. S.A., BMO Nesbitt Burns Securities Limited and BMO Capital Markets GKST Inc. in the U.S., BMO Nesbitt Burns Inc. in Canada, Europe and Asia, BMO Nesbitt Burns Ltée/Ltd. in Canada, BMO Capital Markets Limited in Europe, Asia and Australia, and BMO Advisors Private Limited in India. BMO does not provide tax or legal advice. Any discussion of tax matters in these materials (i) is not intended to be used, and cannot be used or relied upon, for the purposes of avoiding any tax penalties and (ii) may have been written in connection with the “promotion or marketing” of the transaction or matter described herein. Accordingly, the recipient should seek advice based on its particular circumstances from an independent tax advisor. 41