Western Financial GroupQ2 2009 Financial Results

Conference Call

August 18, 2009

Forward-Looking StatementsThis 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 MeasuresThroughout 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.

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Today’s Remarks• Operational Progress in Q2

• Strategic Events in Q2

• Financial Update

• Priorities for Q3

Operational Progressin Q2 2009

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The Network• Same store customer count 1.9% YTDA

• Same store sales 4.4%

• Margins in target range

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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

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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

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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

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Total Revenue

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Earnings Per Share

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Overall

2009 2008

Revenue ($) 72,258 64,473

Income from Equity Investments ($) 835 1,458

Net Income ($) 5,839 8,225

Earnings per share ($)

Basic

Diluted

0.08

0.07

0. 13

0. 13

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The Network

2009 2008

Commission & other customer revenue ($) 40,631 38,361

Operating expenses ($) 28,813 26,568

Operating income ($) 11,818 11,793

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Bank West

2009 2008

Interest & investment income ($) 12,224 9,551Net interest & investment income ($) 4,792 3,052

Operating & provision expenses ($) 5,530 1,920

Operating income ($) (738) 1,132

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Western Life Assurance

2009 2008

Premium income ($) 18,169 14,912

Investment income ($) 622 579

Policyholder benefits ($) 8,832 6,487

Operating expenses ($) 7,373 6,508

Operating income ($) 2,586 2,436

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Corporate & All Other

2009 2008

Other revenues ($) 612 1,070

Operating expenses ($) 4,752 4,291

Operating loss ($) (4,140) (3,221)

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Western Financial GroupHistorical Consolidated ROE

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Western Financial GroupDebt to Equity Ratio

Priorities for Q3

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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.