CWB Financial Group

CWB appoints Chris Fowler as President and Chief Operating Officer

EDMONTON, August 30, 2012 – Canadian Western Bank (TSX: CWB) (CWB or the Bank) today
announced that its Board of Directors has appointed Chris Fowler as the company’s new President and
Chief Operating Officer (COO). Larry Pollock, CWB’s long-serving President and Chief Executive Officer
(CEO) will maintain the title of CEO until he steps down on March 7, 2013, at the Bank’s 2013 Annual
Meeting of shareholders.

“After extensive and ongoing work by our Board over the past number of years on the topic of
succession, we are very pleased to appoint Chris Fowler as CWB’s new President and COO,” said Allan
Jackson, Chair of CWB’s Board of Directors. “Our Board’s recognition of the exceptional performance
and depth of CWB’s current executive team was a defining factor in our decision to select leadership
succession from within the company. Over the course of more than 21 years with CWB, Chris has
contributed greatly to the success of our proven business model, while also demonstrating the
attributes and decision-making capabilities we believe are necessary to effectively lead our group of
companies in the next phase of development and growth. Chris’ breadth of experience, which includes
extensive expertise in the areas of commercial banking and credit risk management, combined with his
strategic vision for the future and strong belief in our corporate culture, confirmed to our Board that he
is the right choice for this position.”

Chris, 52, has a Master’s Degree in Economics from the University of British Columbia and started his
banking career in 1985 with the Continental Bank of Canada. He joined CWB in 1991 and has
consistently demonstrated thoughtful and focused leadership in progressively senior positions. In his
role as Chief Operating Officer, he is primarily responsible for banking operations and credit risk
management.

“I am honoured to have been selected as CWB’s President and COO, and am very excited to take on
the opportunity of building on the highly successful and growing organization that Larry and the rest of
our team, including our more than 1,900 employees, have created,” says Chris. “My primary goal in
this new position will be to ensure our organization continues its long history of stellar financial
performance. Our current business model is both proven and effective. We plan to build ongoing value
for CWB shareholders by further enhancing our corporate culture and effectively executing on
initiatives tied to our strategic themes of ‘Do what we do, only better’ and ‘Make the whole worth more
than the sum of the parts’.”

Larry Pollock commented, “I am so very pleased with the Board’s decision to choose a member of our
executive team as the new President of CWB. I have worked with Chris for over 21 years and have
witnessed first-hand his capabilities and commitment to leading our team, taking care of clients and
growing our companies. Chris’ ability to inspire our employees, shape our business strategies and
protect our award-winning corporate culture will ensure CWB’s continued success.”