Mr. Chris Williams reports

CWB TO REDEEM SERIES F NVCC SUBORDINATED DEBENTURES

Canadian Western Bank intends to redeem all outstanding $250-million 3.668 per cent Series F subordinated debentures (non-viability contingent capital (NVCC)) due June 11, 2024, for 100 per cent of their principal amount plus accrued interest to, but excluding, the redemption date. The redemption will occur on June 11, 2024. Formal notice will be delivered to the debentureholders in accordance with the terms and conditions set forth in the related trust indenture.

The redemption has been approved by the Office of the Superintendent of Financial Institutions and will be financed out of the bank's general corporate funds. Subsequent to the redemption, the bank's total capital ratio will remain well above the regulatory minimum of 10.5 per cent and above management's operating targets.

About Canadian Western Bank

Canadian Western Bank is the only full-service financial institution in Canada with a strategic focus to meet the unique financial needs of businesses and their owners. It provides nationwide full-service business and personal banking, specialized financing, comprehensive wealth management offerings, and trust services. The bank's teams deliver a uniquely pro-active and differentiated level of service to clients in targeted industries where it has deep expertise. Clients choose Canadian Western Bank for its highly personalized service, specialized expertise, customized solutions and faster response times.

As a public company on the Toronto Stock Exchange (TSX), the bank trades under the symbols CWB (common shares), CWB.PR.B (Series 5 preferred shares) and CWB.PR.D (Series 9 preferred shares). The bank is firmly committed to the responsible creation of value for all its stakeholders, and its approach to sustainability will support its continued success.