1. Western Financial Group Q1 2008 Financial Results Conference Call May 9, 2008

2. 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.

3. TSX: WES 3 Today’s Remarks Operational Progress in Q1 Strategic Events in Q1 Financial Update Priorities for Q2

4. Operational Progress in Q1 2008

5. TSX: WES 5 WFG Agency Network Same store customer count 3.4% YTDA Same store sales 8.5% Soft market continues – AB Auto Increase? “Insurance to Value” initiative building revenue. Acquisition of Southern Insurance Lethbridge, AB

6. TSX: WES 6 Western Life Assurance Creditor Life still strong Certificate count and growth highest ever 13% over Q1/07 Bolt-on product for network is at 5,088 policies. Target of 20,000 by Q2/08 revised to be Q2/ 09.

7. TSX: WES 7 Bank West Negative portfolio growth in Q1, Summer funding season expected to be slower than 2007 Portfolio target for 2008 - $320 million Very low specific provisions in Q1, credit quality solid

8. Strategic Events in Q1

9. TSX: WES 9 Q1 Strategic Events Agency acquisition pipeline filling Loan portfolio acquisition opportunities Business development discussions with Partners are underway Employment market in Alberta is turning – we are at full employment

10. Financial Update

11. TSX: WES 11 Total Revenue CAGR 28.0%

12. TSX: WES 12 Earnings Per Share CAGR 32%

13. TSX: WES 13 Overall 20082007 Revenue ($)30,10224,559 Income from Equity Investments ($)613762 Net Income ($)2,3862545 Earnings per share ($) Basic Diluted 0. 05 0. 04 0.06 0.05

14. TSX: WES 14 The Network 20082007 Commission & other customer revenue ($)16,48914,544 Operating expenses ($)12,63910,162 Operating income ($)3,8504,382

15. TSX: WES 15 Bank West 20082007 Interest & investment income ($) 4,9422,560 Net interest & investment income ($) 1,546922 Operating & provision expenses ($) 849634 Operating income ($) 697288

16. TSX: WES 16 Western Life Assurance 20082007 Premium income ($) 7,1726,260 Investment income ($) 832630 Policyholder benefits ($) 3,7053,409 Operating expenses ($) 3,1232,648 Operating income ($) 1,176833

17. TSX: WES 17 Corporate & All Other 20082007 Other revenues ($) 667565 Operating expenses ($) 2,3972,180 Operating loss ($) (1,730)(1,615)

18. TSX: WES 18 Western Financial Group Historical Consolidated ROE CAGR 28%

19. TSX: WES 19 Western Financial Group Debt to Equity Ratio

20. Priorities for Q2

21. TSX: WES 21 Q2 Priorities Agency acquisitions Ubiquity Bank / Wealthview integration Network/Life WFGO

22. Questions

23. …because we live here.