Mr. Chris Fowler reports

CWB PUBLISHES 2023 SUSTAINABILITY REPORT

Canadian Western Bank today released its 2023 sustainability report, which provides insight into its performance related to priority environmental, social and governance (ESG) factors that support the continuing success of its clients, long-term value creation for all its stakeholders and sustainable growth for its business. The sustainability report includes the bank's public accountability statement and can be found on its website.

"Our 2023 sustainability report showcases our continued progress on our ESG priorities, which are focused to deliver sustainable value for all our stakeholders and the responsible growth of our business," said Chris Fowler, Canadian Western's president and chief executive officer. "Our values, culture and strategy are the guiding force that sets our talented teams up for success as we navigate the continuously evolving landscape that impacts our business and the businesses of our clients. I am proud of the dedication that our team members have demonstrated in a challenging environment. Through their efforts, we have built a strong, resilient full-service bank, and are well positioned to seize opportunities to drive sustainable change and long-term value creation."

As a further step to manage its direct and indirect climate impact, Canadian Western commits to reduce absolute Scope 1 and Scope 2 GHG (greenhouse gas) emissions 42 per cent by 2030 from a 2022 base year. This target is informed by the Science Based Targets initiative 1.5 degrees Celsius pathway.

Canadian Western supports the need for clear and transparent ESG disclosures based on frameworks that allow for comparability across and within industries, and continued its phased adoption of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and the Sustainability Accounting Standards Board (SASB) standards in its 2023 sustainability report. Moving forward, the bank will continue to advance its disclosures in alignment with relevant reporting frameworks as its approach to sustainability matures.