CWB Financial Group

CWB reports 2011 quarterly and annual results under IFRS

Edmonton, January 24, 2012 – Canadian Western Bank (TSX: CWB) today released its 2011 quarterly
and annual financial results as reported under International Financial Reporting Standards (IFRS).

The Canadian Institute of Chartered Accountants has transitioned Canadian generally accepted accounting
principles (GAAP) for publicly accountable entities to IFRS. The transition is applicable to interim and
annual financial statements effective for fiscal years beginning on or after January 1, 2011, including
comparatives for the prior year. As a result, Canadian Western Bank’s (CWB or the Bank) consolidated
financial statements for the 2012 fiscal year will be prepared in accordance with IFRS, including
comparative information for 2011. CWB’s financial results for the quarter ending January 31, 2012 will be
the first quarterly IFRS financial statements and are expected to be released before the market opens on
March 8, 2012. Read the release in full.