Exhibit 99.3
CONSOLIDATED CAPITALIZATION OF BANK OF MONTREAL
The following table sets forth the consolidated capitalization of the Bank as at July 31, 2024.
| As at July 31, 2024 |
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| (in millions of Canadian dollars) |
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| Subordinated Debt |
9,321 | |||
| Total Equity |
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| Preferred Shares(1) and Other Equity Instruments(2) |
8,487 | |||
| Common Shares |
23,911 | |||
| Contributed Surplus |
346 | |||
| Retained Earnings |
45,451 | |||
| Accumulated Other Comprehensive Income |
4,731 | |||
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| Total Shareholders’ Equity |
82,926 | |||
| Non-controlling Interest in Subsidiaries |
31 | |||
| Total Equity |
82,957 | |||
| Total Capitalization |
92,278 | |||
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Notes:
| (1) | Preferred Shares classified under Total Equity consist of Class B Preferred Shares Series 29, 31, 33, 44, 50 and 52. For more information on the classification of Preferred Shares, please refer to Note 5 of the unaudited interim consolidated financial statements of Bank of Montreal for the nine-months ended July 31, 2024. |
| (2) | The Other Equity Instruments described under Total Equity consist of Additional Tier 1 Capital Notes and Limited Recourse Capital Notes, Series 1, 2, 3, 4 and 5. Please refer to Note 5 of the unaudited interim consolidated financial statements of Bank of Montreal for the nine-months ended July 31, 2024. |