CWBFG Annual Report 2022

PRE-TAX, PRE-PROVISON INCOME (1) $ MILLIONS

REVENUE $ MILLIONS

DILUTED EPS $/SHARE

4.00

1,200

600

1,076

522

3.39

3.50

1,000

500

3.00 2.50 2.00 1.50

800

400

600

300

400

200

1.00

200

100

0.50 0

0

0

18 19 20 21

22

18 19 20 21

22

18 19 20 21

22

(1) Non-GAAP measure – refer to definitions and detail provided on page 16.

“As our clients grow and become successful, we are positioned to grow with them.”

In 2022 CWB Wealth harmonized our five legacy private wealth brand identities. Visit cwbwealth.com/foundations-film to learn more.

Our expanded wealth offering enables our teams to continue to be our clients’ financial services partner through all stages of their lives. CWB Wealth is positioned to provide a differentiated client experience in Canadian private wealth advisory services and strengthen full-service relationships with successful business families, business executives, and employees of the businesses CWB serves. Today, we are a more resilient bank than ever with a track record of strong performance through economic cycles. I would like to thank our teams for their commitment to delivering an unrivaled experience to our clients and advancing our strategic direction. The enhanced capabilities we have built provide a platform to create sustainable long- term value. I would also like to personally thank our clients across Canada for choosing CWB and giving our team the opportunity to be a trusted partner that is obsessed with your success.

To my fellow shareholders, I would like to thank you for your commitment to CWB through a year of strategic investment and prudent risk management to ensure we are well-positioned for the challenges and opportunities that may lie ahead. Looking forward, we are taking a targeted approach in our investments to prudently manage our expenses and return our efficiency ratio closer to historical levels, while driving strong growth of profitable full- service client relationships across our geographic footprint. Our team is poised to deliver upon our significant potential with strong core operating performance next year in line with our financial scorecard, and we have charted a course to reward you with a meaningful expansion of our return on equity by 2024.

Chris Fowler President and Chief Executive Officer

FINANCIAL SCORECARD

Pre-tax, pre-provision income growth

Efficiency ratio (1)

Annual Metrics

Adjusted ROE (1)

Greater than 10%

12% by 2024

Less than 50%

Performance Targets

(1) Non-GAAP measure – refer to definitions and detail provided on page 16.

CWB Financial Group 2022 Annual Report | 5

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