CWB Financial Group

CWB completes its purchase of the preferred shares of National Leasing Group Inc.

EDMONTON, May 29, 2012 – Canadian Western Bank (TSX: CWB) (“CWB” or the “Bank”)
today completed its previously announced agreement to purchase the preferred shares of
National Leasing Group Inc. (the “Preferred Shares”).

Under terms of the purchase, CWB acquired 100 per cent of the Preferred Shares in
exchange for $63.5 million of CWB common shares (2,256,868 CWB common shares based
on an issue price of $28.14). The transaction increases the Bank’s regulatory capital ratios
by approximately 45 basis points.