Western Financial Group Q Financial Results Conference Call August 18, 2009

Forward-Looking Statements This presentation contains certain forward-looking statements. Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving Western Financial Group Inc. (the “Company”) or its subsidiaries. Many of these statements can be identified by looking for words such as ‘‘believe’’, ‘‘expects’’, ‘‘expected’’, ‘‘will’’, ‘‘intends’’, ‘‘projects’’, ‘‘anticipates’’, ‘‘estimates’’, ‘‘continues’’ or similar words. The Company believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward- looking statements are not guarantees of future performance and involve a number of risks and uncertainties only some of which are described herein. Many factors could cause the Company’s actual results, performance or achievements to, or future events or developments to, differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the risk factors, which are discussed in greater detail in the ‘‘Risk Factors’’ section of the prospectus. Any forward-looking statements are made as of the date hereof and the Company does not assume any obligation to publicly update or revise such statements to reflect new information, subsequent events or otherwise. Non-GAAP Measures Throughout this presentation, the Company may use the term ‘‘operating income’’ to refer to earnings, including investment income, before interest expense, taxes, depreciation and amortization of intangible and capital assets, excluding gain (loss) from the sale of assets and income (loss) from equity investments. The Company uses ‘‘operating income’’ to assist it in measuring corporate performance before the costs of capital and amortization of capital and intangible assets. Operating income is not a measure recognized by GAAP and does not have a standardized meaning prescribed by GAAP. Therefore, this measure may not be comparable to similar measures presented by other issuers and investors are cautioned that it should not be used as an alternative to ‘‘net income’’ or other measures of financial performance calculated in accordance with GAAP.

TSX: WES 3 Today’s Remarks Operational Progress in Q2 Strategic Events in Q2 Financial Update Priorities for Q3

Operational Progress in Q2 2009

TSX: WES 5 The Network Same store customer count 1.9% YTDA Same store sales 4.4% Margins in target range

TSX: WES 6 Western Life Assurance Creditor Life slowing Employee benefits growth of $500,000 per month from HED continues Bolt-on product for network is at 6,900+ policies. Target of 7,500 by Y/E 2009 $100,000 special term life product will launch September 21

TSX: WES 7 Bank West Positive portfolio growth in Q1. Summer funding season for RVs tempered by payouts in mortgages Agrifinancial Spring funding slow start – now growing 23 bps specific provisions in Q2. Credit quality solid – NPLs at 1.3%

Strategic Events in Q2

TSX: WES 9 Q2 Strategic Events Agency acquisition not likely until 2010 Operations focus in 2009 Alberta auto rate reduction will have minimal impact Soft market in commercial P & C persists

Financial Update

TSX: WES 11 Total Revenue

TSX: WES 12 Earnings Per Share

TSX: WES 13 Overall Revenue ($)72,25864,473 Income from Equity Investments ($) 8351,458 Net Income ($)5,8398,225 Earnings per share ($) Basic Diluted

TSX: WES 14 The Network Commission & other customer revenue ($) 40,63138,361 Operating expenses ($)28,81326,568 Operating income ($)11,81811,793

TSX: WES 15 Bank West Interest & investment income ($) 12,2249,551 Net interest & investment income ($) 4,7923,052 Operating & provision expenses ($) 5,5301,920 Operating income ($) (738)1,132

TSX: WES 16 Western Life Assurance Premium income ($) 18,16914,912 Investment income ($) Policyholder benefits ($) 8,8326,487 Operating expenses ($) 7,3736,508 Operating income ($) 2,5862,436

TSX: WES 17 Corporate & All Other Other revenues ($) 6121,070 Operating expenses ($) 4,7524,291 Operating loss ($) (4,140)(3,221)

TSX: WES 18 Western Financial Group Historical Consolidated ROE

TSX: WES 19 Western Financial Group Debt to Equity Ratio

Priorities for Q3

TSX: WES 21 Q3 Priorities Manage NPLs at Bank West (Winnipeg Office transition) Agrifinancial integration Grow Bank West loan book Increase ownership at HED

Questions

…because we live here.