蒙特利尔银行美股招股说明书(2026-02-20版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanyingproduct supplement, prospectus supplement and prospectus are not an offer to sell these securities and we are not soliciting an offer to buy these securities inany jurisdiction where the offer or sale is not permitted. Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-285508 PRICING SUPPLEMENT dated February, 2026(To Product Supplement No. WF1 dated March 25, 2025,Prospectus Supplement dated March 25, 2025and Prospectus dated March 25, 2025) Bank of Montreal Market Linked Securities—Auto-Callable with Contingent Coupon with Memory Feature and Principal at Risk Securities Linked to the Lowest Performing of the Common Stock of Amazon.com, Inc., the Class ACommon Stock of Robinhood Markets, Inc. and the Common Stock of Tesla, Inc. due March 1, 2029 Linked to the lowest performing of the common stock of Amazon.com, Inc., the Class A common stock of Robinhood Markets, Inc. and the common stock of Tesla, Inc.(each referred to as an “Underlier”)Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at stated maturity and are subject to potential automatic call prior to stated maturity upon the terms described below. Whether the securities pay a contingent coupon, whether the securities are automaticallycalled prior to stated maturity and, if they are not automatically called, whether you receive the face amount of your securities at stated maturity, will depend, in each case,on the closing value of the lowest performing Underlier on the relevant calculation day. The lowest performing Underlier on any calculation day is the Underlier that hasthe lowest closing value on that calculation day as a percentage of its starting value of the lowest performing Underlier on the calculation day for that month is greater than or equal to its coupon threshold value. If the closing value of the lowest performingUnderlier on a calculation day is less than its coupon threshold value, you will not receive any contingent coupon on the related contingent coupon payment date.However, if the closing value of the lowest performing Underlier on one or more calculation days is less than its coupon threshold value and, on a subsequent calculationday, the closing value of the lowest performing Underlier on that subsequent calculation day is greater than or equal to its coupon threshold value, the securities will paythe contingent coupon payment due for that subsequent calculation day plus all previously unpaid contingent coupon payments (without interest on amounts previouslyunpaid). If the closing value of the lowest performing Underlier is less than its coupon threshold value on every calculation day, you will not receive any contingent coupons throughout the entire term of the securities. The coupon threshold value for each Underlier is equal to 50% of its starting value. The contingent coupon rate will inclusive, is greater than or equal to its starting value, the securities will be automatically called for the face amount plus a final contingent coupon payment and anypreviously unpaid contingent coupon payments Potential Loss of Principal.If the securities are not automatically called prior to stated maturity, you will receive the face amount at stated maturity if, and only if, theclosing value of the lowest performing Underlier on the final calculation day is greater than or equal to its downside threshold value. If the closing value of the lowestperforming Underlier on the final calculation day is less than its downside threshold value, you will lose more than 50%, and possibly all, of the face amount of yoursecurities. The downside threshold value for each Underlier is equal to 50% of its starting value If the securities are not automatically called prior to stated maturity, you will have full downside exposure to the lowest performing Underlier from its starting value if itsclosing value on the final calculation day is less than its downside threshold value, but you will not participate in any appreciation of any Underlier and will not receiveany dividends on any Underlier Your return on the securities will dependsolelyon the performance of the Underlier that is the lowest performing Underlier on each calculation day. You will not benefit inany way from the performance of the better performing Underliers. Therefore, you will be adversely affected ifany Underlierperforms poorly, even if the otherUnderliers perform favorably All payments on the securities are subject to our credit risk, and you will have no ability to pursue any Underlier for payment; if Bank of Montreal defaults on itsobligations, you could lose some or all of your investment No exchange listing; designed to be held to maturity or automatic call On the date of this preliminary pricing supplement, the estima