News Releases

TORONTO, ONTARIO--(Marketwired - Nov. 18, 2016) - BMO Asset Management Inc. ("BMO AM") today announced the estimated 2016 annual reinvested distributions for BMO Exchange Traded Funds (ETFs)¹. These annual reinvested distributions generally represent realized capital gains within the ETFs, and are paid to unitholders, as required, to ensure that the BMO ETFs are not liable for ordinary income tax.

Unitholders of record at close of business on December 29, 2016 will receive the 2016 annual reinvested distributions. The final year-end distribution amounts, as well as the ongoing cash distribution amounts, will be announced on December 16, 2016. The actual taxable amounts, including the tax characteristics, will be reported in early 2017.

Please note that these are estimated annual reinvested distributions only and have been calculated based upon forward-looking information as of October 15, 2016². If the forward-looking information changes, the estimated annual reinvested distributions may also change. These estimates are for the annual reinvested distributions only and do not include estimates of ongoing cash distribution amounts.

Details of the per unit estimated annual reinvested distribution amounts are as follows:

BMO ETF	Ticker	Estimated Reinvested Distribution ($)
BMO Aggregate Bond Index ETF	ZAG	0.0000000
BMO Discount Bond Index ETF	ZDB	0.0141720
BMO Ultra Short-Term Bond ETF	ZST	0.0000000
BMO Short Federal Bond Index ETF	ZFS	0.0000000
BMO Mid Federal Bond Index ETF	ZFM	0.0324020
BMO Long Federal Bond Index ETF	ZFL	0.0489040
BMO Real Return Bond Index ETF	ZRR	0.0000000
BMO Short Provincial Bond Index ETF	ZPS	0.0000000
BMO Mid Provincial Bond Index ETF	ZMP	0.0299920
BMO Long Provincial Bond Index ETF	ZPL	0.0000000
BMO Short Corporate Bond Index ETF	ZCS	0.0000000
BMO Mid Corporate Bond Index ETF	ZCM	0.0432760
BMO Long Corporate Bond Index ETF	ZLC	0.0000000
BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF	ZSU	0.0000000
BMO Mid-Term US IG Corporate Bond Index ETF	ZIC	0.0599570
BMO Mid-Term US IG Corporate Bond Index ETF (U.S. Dollar Units)	ZIC.U	0.0378100
BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF	ZMU	0.0511510
BMO High Yield US Corporate Bond Hedged to CAD Index ETF	ZHY	0.0000000
BMO Floating Rate High Yield ETF	ZFH	0.0000000
BMO Equity Linked Corporate Bond ETF	ZEL	0.0000000
BMO Emerging Markets Bond Hedged to CAD Index ETF	ZEF	0.0000000
BMO Laddered Preferred Share Index ETF	ZPR	0.0000000
BMO Monthly Income ETF	ZMI	0.0000000
BMO Covered Call Canadian Banks ETF	ZWB	0.1518660
BMO Covered Call Utilities ETF	ZWU	0.0000000
BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF	ZWA	0.0000000
BMO US High Dividend Covered Call ETF	ZWH	0.3294790
BMO US High Dividend Covered Call ETF (U.S. Dollar Units)	ZWH.U	0.3402610
BMO Europe High Dividend Covered Call Hedged to CAD ETF	ZWE	0.4335080
BMO US Put Write ETF	ZPW	0.0000000
BMO US Put Write ETF (U.S. Dollar Units)	ZPW.U	0.0000000
BMO S&P/TSX Capped Composite Index ETF	ZCN	0.0000000
BMO Canadian Dividend ETF	ZDV	0.0000000
BMO Low Volatility Canadian Equity ETF	ZLB	0.0458510
BMO Dow Jones Industrial Average Hedged to CAD Index ETF	ZDJ	1.5630890
BMO S&P 500 Index ETF	ZSP	0.3082800
BMO S&P 500 Index ETF (U.S. Dollar Units)	ZSP.U	0.2692410
BMO S&P 500 Hedged to CAD Index ETF	ZUE	1.1150060
BMO MSCI USA High Quality Index ETF	ZUQ	0.0000000
BMO US Dividend ETF	ZDY	0.5098040
BMO US Dividend ETF (U.S. Dollar Units)	ZDY.U	0.4429750
BMO US Dividend Hedged to CAD ETF	ZUD	0.3943110
BMO Low Volatility US Equity ETF	ZLU	0.4749880
BMO Low Volatility US Equity ETF (U.S. Dollar Units)	ZLU.U	0.8750500
BMO Low Volatility US Equity Hedged to CAD ETF	ZLH	0.2240870
BMO MSCI EAFE Index ETF	ZEA	0.0619270
BMO MSCI EAFE Hedged to CAD Index ETF	ZDM	1.3461700
BMO International Dividend ETF	ZDI	0.0000000
BMO International Dividend Hedged to CAD ETF	ZDH	1.1512760
BMO Low Volatility International Equity ETF	ZLI	0.3529520
BMO Low Volatility International Equity Hedged to CAD ETF	ZLD	0.4571870
BMO MSCI Europe High Quality Hedged to CAD Index ETF	ZEQ	1.0014220
BMO MSCI Emerging Markets Index ETF	ZEM	0.0000000
BMO Low Volatility Emerging Markets Equity ETF	ZLE	0.0000000
BMO MSCI All Country World High Quality Index ETF	ZGQ	0.2799340
BMO China Equity Index ETF	ZCH	0.5156550
BMO India Equity Index ETF	ZID	0.1808840
BMO S&P/TSX Equal Weight Banks Index ETF	ZEB	0.0584350
BMO S&P/TSX Equal Weight Oil & Gas Index ETF	ZEO	0.0000000
BMO Equal Weight Utilities Index ETF	ZUT	0.0000000
BMO Equal Weight REITs Index ETF	ZRE	0.2783140
BMO S&P/TSX Equal Weight Industrials Index ETF	ZIN	0.0000000
BMO Nasdaq 100 Equity Hedged to CAD Index ETF	ZQQ	1.2666330
BMO Equal Weight US Health Care Hedged to CAD Index ETF	ZUH	0.4266340
BMO Equal Weight US Banks Index ETF	ZBK	0.0000000
BMO Equal Weight US Banks Hedged to CAD Index ETF	ZUB	0.0000000
BMO Global Infrastructure Index ETF	ZGI	0.8492170
BMO S&P/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF	ZMT	0.0000000
BMO S&P/TSX Equal Weight Global Gold Index ETF	ZGD	0.6482850
BMO Junior Gold Index ETF	ZJG	0.0000000
BMO Junior Oil Index ETF	ZJO	0.0000000
BMO Junior Gas Index ETF	ZJN	0.0000000

¹ BMO ETFs are administered and managed by BMO Asset Management Inc., an investment fund manager and portfolio manager and a separate legal entity from Bank of Montreal.

² Forward-looking information: This notice contains forward-looking statements with respect to the estimated annual distributions for the ETFs. By their nature, these forward-looking statements involve risks and uncertainties that could cause the actual distributions to differ materially from those contemplated by the forward-looking statements. Material factors that could cause the actual distributions to differ from the estimated distributions include, but are not limited to: the actual amounts of distributions received by the ETFs; portfolio transactions; and subscription and redemption activity.

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

S&P® S&P 500® and S&P/TSX Capped Composite™ are trademarks of Standard & Poor's Financial Services LLC, Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC, and TSX is a trademark of TSX Inc. These and other associated trademarks and/or service marks have been licensed for use by BMO Asset Management Inc. The index underlying the ZEB, ZMT, ZGD, ZCN, ZEO, ZUE, ZSP, ZSP.U, and ZIN BMO ETFs are products S&P Dow Jones Indices LLC and has been licensed for use by BMO Asset Management Inc. The BMO ETF is not sponsored, endorsed, sold or promoted by any of its aforementioned trademark owners and the related index providers or their respective affiliates or their third party licensors and these entities make no representation, warranty or condition regarding the advisability of buying, selling or holding units in the BMO ETFs.

The Dow Jones Industrial Average Index CAD Hedged is a product of Dow Jones Opco, LLC ("Dow Jones Opco"), a subsidiary of S&P Dow Jones Indices LLC and has been licensed for use. "Dow Jones® "and Industrial Average Index CAD Hedged are service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones"), and has been licensed to Dow Jones Opco and sublicensed by BMO Asset Management Inc. in connection with ZWA and ZDJ. ZWA and ZDJ is not sponsored, endorsed, sold, or promoted by Dow Jones Opco, Dow Jones, and their respective affiliates, make no representation regarding the advisability of trading or investing in such a product(s).

BNY Mellon, BNY Mellon ADR Index and BNY Mellon DR Index are service marks of The Bank of New York Mellon. These and other associated trademarks and /or services marks have been licensed for use by BMO Asset Management Inc. for use with certain BMO Asset Management Exchanged Traded Funds ("BMO ETFs"). BNY Mellon provides no advice nor recommendations regarding products based on any index licensed by BNY Mellon, including the BMO ETFs and none of the BMO ETFs are sponsored, endorsed, sold or promoted by BNY Mellon, or its respective affiliates, or third partly licensors, and BNY Mellon makes no representations, warrant, or condition regarding the advisability of buying, selling or holding units in the BMO ETFs

Nasdaq®, OMX®, NASDAQ OMX®, Nasdaq-100®, and Nasdaq-100 Index®, are registered trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by BMO Asset Management Inc. The BMO Nasdaq 100 Equity Hedged to CAD Index ETF has not been passed on by the Corporations as to its legality or suitability and is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO The BMO Nasdaq 100 Equity Hedged to CAD Index ETF.

The funds or securities referred to herein are not sponsored, endorsed or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with BMO Asset Management Inc. and any related funds.

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

About BMO Exchange Traded Funds (ETFs)

Established in May 2009, BMO Financial Group's ETF business is a leading ETF provider in Canada. BMO ETFs provide Canadian investors with broader choices and greater access to an innovative portfolio of investment products.

About BMO Financial Group

Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $692 billion as of July 31, 2016, and over 45,000 employees, BMO provides a broad range of retail 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, Wealth Management and BMO Capital Markets.