Western Financial Group Q Financial Results Conference Call August 12, 2008

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 2008

TSX: WES 5 WFG Agency Network Same store customer count 4.5% YTDA Same store sales 9.5% - Market share gains Soft market continues – AB Auto Increase approved 5% on mandatory Acquisition of Simpson, Trochu, AB and Woodland, Grande Cache, AB

TSX: WES 6 Western Life Assurance Creditor Life still strong Certificate count and growth highest ever - 13% over Q2/07 Bolt-on product for network is at 5,554 policies. Target of 20,000 by Q2/09 Westguard employee benefits program underway and gaining traction

TSX: WES 7 Bank West Negative portfolio growth in Q1, Summer funding season slower than Opportunity rich environment. Guarding capacity and reviewing opportunities. Portfolio target for $320 million Very low specific provisions in H1, credit quality solid

Strategic Events in Q2

TSX: WES 9 Q2 Strategic Events Agency acquisition pipeline active – price/value expectations are still high Loan portfolio acquisition opportunities Business development discussions with Partners continue Significant advertising increase in advance of 2009 local name “Sunset” plan

Financial Update

TSX: WES 11 Total Revenue CAGR 28.0%

TSX: WES 12 Earnings Per Share CAGR 32% CAGR 31%

TSX: WES 13 Overall Revenue ($000)64,47351,204 Income from Equity Investments ($000)1,4581,594 Net Income ($000)8,2256,635 Earnings per share ($) Basic Diluted

TSX: WES 14 The Network Commission & other customer revenue ($000)38,36132,282 Operating expenses ($000)26,56821,146 Operating income ($000)11,79311,136

TSX: WES 15 Bank West Interest & investment income ($000)9,5515,320 Net interest & investment income ($000)3,0521,913 Operating & provision expenses ($000)1,9201,667 Operating income ($000)1,132246

TSX: WES 16 Western Life Assurance Premium income ($000) 14,91312,714 Investment income ($000) 579(579) Policyholder benefits ($000) 6,4874,856 Operating expenses ($000) 6,5695,498 Operating income ($000) 2,4361,781

TSX: WES 17 Corporate & All Other Other revenues ($000) 1,0691,467 Operating expenses ($000) 4,2904,556 Operating loss ($000) (3,221)(3,089)

TSX: WES 18 Western Financial Group Historical Consolidated ROE CAGR 24.1%

TSX: WES 19 Western Financial Group Debt to Equity Ratio

Priorities for Q3

TSX: WES 21 Q3 Priorities Agency acquisitions Ubiquity Bank / Wealthview integration Network/Life WFGO Bank portfolio growth and acquisition and/or new loans

Questions

…because we live here.