1st Quarter 2026 Earnings Supplement and Investor Presentation April 29, 2026
2Central Pacific Financial Corp. Forward-Looking Statements This document may contain forward-looking statements ("FLS") concerning, among other things: projections of revenues, expenses, income or loss, earnings or loss per share, capital expenditures, payment or nonpayment of dividends, net interest income, capital position, credit losses, net interest margin, or other financial items. These statements may also include the plans, objectives, and expectations of Central Pacific Financial Corp. (the "Company") or its management or Board of Directors, including those relating to business plans, use of capital resources, products or services, and regulatory developments or actions. In addition, such statements may address anticipated economic performance, the expected impact of business initiatives, and the assumptions underlying any of the foregoing. Words such as "believe," "plan," "anticipate," "aim," "seek," "expect," "intend," "forecast," "hope," "target," "continue," "remain," "estimate," "will," "should," "may," and other similar expressions are intended to identify FLS, although such terminology is not the exclusive means of doing so. While we believe that our FLS and their underlying assumptions are reasonably based, such statements are inherently subject to risks and uncertainties that may cause actual results to differ materially from expectations. Factors that may lead to such differences, include, but are not limited to: the persistence or resurgence of inflationary pressures in the United States and our market areas, and their effect on market interest rates, economic conditions, and credit quality; the impact of the current U.S. administration’s economic policies, including potential international tariffs, geopolitical instability, trade tensions,and other cost- cutting or fiscal initiatives; the adverse effects of bank failures on customer confidence, deposit behavior, liquidity, and regulatory responses; the effects of pandemics, epidemics, and other public health emergencies, including their impact on Hawaii's tourism and construction sectors and on our borrowers, customers, vendors and employees; supply chain disruptions, labor contract disputes, strikes; adverse trends in the real estate or construction industries, including rising inventory levels or declining property values; deterioration in borrowers' financial performance leading to increased loan delinquencies, asset quality issues, or loan losses; the impact of local, national, and international economic conditions and natural disasters (such as wildfires, volcanic eruptions, hurricanes, tsunamis, storms, floods, or earthquakes) on our markets and major industries within Hawaii; weakness in domestic economic conditions, including instability in the financial industry, deterioration in real estate markets, and declines in consumer or business confidence; revisions to estimates of reserve requirements under applicable regulatory and accounting standards; the impact of legislative and regulatory developments, including the Dodd-Frank Act, changing capital and consumer protection rules, and new regulations affecting our operations and competitiveness; the costs and effects of legal and regulatory proceedings, including actual or threatened litigation and the efforts of governmental and regulatory exams and orders, as well as the costs of ongoing or potential compliance efforts; the effect of accounting standard changes adopted by regulatory agencies, the PCAOB, or the FASB, and the cost and resources associated with implementation; changes in trade, monetary, or fiscal policy, including actions by the Federal Reserve; market volatility and monetary fluctuations, including the transition away from the LIBOR Index; declines in our market capitalization or the price of our common stock; the effects and cost of acquisitions, dispositions, or strategic transactions we may make or evaluate; political instability, acts of war or terrorism, or other geopolitical conflicts; shifts in consumer spending, borrowing, and savings behaviors; technological changes and developments; cybersecurity incidents, data privacy breaches, or fraud involving us or third-party vendors; deficiencies in internal control over financial reporting or disclosure controls and procedures, and our ability to remediate them; increased competition among financial institutions and other financial service providers; our ability to achieve efficiency ratio improvement goals; our ability to attract and retain key personnel; changes in our personnel, organization, compensation and benefit plans; and related reputational or regulatory exposures; and risks related to the United States fiscal debt, deficit, and budget uncertainties. For further information on factors that could cause actual results to differ materially from the expectations or projections expressed in our FLS, please refer to the Company's filings with the U.S. Securities and Exchange Commission, including the Company's most recent Form 10-K, particularly, the discussion of "Risk Factors" set forth therein. We urge investors to consider all of these factors carefully in evaluating the FLS contained in this document. FLS speak only as of the date on which such statements are made. We undertake no obligation to update any FLS to reflect events or circumstances occurring after the date on which such statements are made, or to reflect the occurrence of unanticipated events, except as required by law.
3Central Pacific Financial Corp. Central Pacific Financial Corp. Overview Who We Are Strategic Focus 1Q 2026 Financial Results Appendix
4Central Pacific Financial Corp. MARKET INFORMATION NYSE TICKER CPF SUBSIDIARY CPB TOTAL ASSETS $7.5 billion MARKET CAP $835 million SHARE PRICE $31.96, +79% (3Y1) DIVIDEND YIELD 3.6%2 Central Pacific Financial Corp. (CPF) is a Hawaii-based bank holding company. Central Pacific Bank (CPB) was founded in 1954 by Japanese-American veterans of World War II to serve the needs of families and small businesses that did not have access to financial services. Today CPB is the 4th largest financial institution, by deposit base in Hawaii, with 27 branches and 55 ATMs across the State. CPB was named to Newsweek’s “America’s Best Regional Banks” list for 2026. This marks the fifth consecutive year CPB has made this list. Central Pacific Financial – Who We Are 1 3-year stock price change from 3/31/2023 to 3/31/2026 2 Dividend yield is calculated based on quarterly cash dividend of $0.29 per share for 2Q26 Note: Total assets and other market information above is as of March 31, 2026
Strategic Focus
6Central Pacific Financial Corp. CPF Strategic Focus Our objective is to operate as a high performing bank that delivers sustainable, growing returns and provides enhanced value to positively impact our employees, customers, community and long- term shareholders. Our focus is on our core business. We believe we are positioned to drive strong results organically. Strengthening our brand and reputation enhances customer trust, loyalty and community relevance which drives sustained deposit growth, lower customer acquisition costs and long-term shareholder value. Brand and Reputation Relationship-based Hawaii retail and small business deposits provide stable, low-cost funding to support balance sheet growth and margin optimization. Diversify funding sources through strategic partnerships with customers in Japan and Korea. Stable, Low-Cost Funding Focus on high-quality, relationship-driven lending and selective investments. Prioritize durable spreads over rate speculation to drive consistent earnings and capital growth. Disciplined Asset Deployment Seek diversification through selective indirect and wholesale credit exposure to reduce concentration risk, access larger markets, and enhance returns, while maintaining disciplined, deposit-funded growth anchored in our Hawaii core franchise. Thoughtful Diversification
7Central Pacific Financial Corp. Hawaii as our core franchise, supported by complementary drivers of growth Core Hawaii Franchise • Strong commitment to the Hawaii market • Solid franchise built on 70+ year legacy • Relative size as 4th largest bank in Hawaii provides market share growth opportunity • Leader and advocate for small business and home ownership • Valuable low-cost core deposits Japan and Korea • Deepen cross-border strategic partnerships to support individual and business client investment in Hawaii • Generates core U.S. dollar deposits U.S. Mainland • Provides geographic diversification, shorter duration, and better risk/return profile • Continue to target 15-20% of total loans • Mainland exposure comprises CRE, C&I and Consumer Loans
8Central Pacific Financial Corp. Operational Excellence – Positive Operating Leverage Operational excellence framework to achieve sustainable performance and long-term organizational resilience by integrating people, processes and technology to drive efficiency, innovation and growth. 1Quarters are presented on a non-GAAP basis, normalized for non-recurring items Recent Highlights: • Strategic vendor renewals: successfully negotiated large contracts which provide expense savings/incentives while also strengthening system capabilities, service levels, and scalability. • Process automation: implemented over 90 process improvements including straight-through processing to core system. • Branch systems enhancements: provided time savings of over 80% on teller balancing, allowing more focus on customer service. • Expense optimization: consolidation of employees from Operations Center into our main office for an annual savings of ~$1 million. • Data Center: new fully upgraded outsourced Data Center with enhanced resiliency and disaster recovery. 59.87% 50% 52% 54% 56% 58% 60% 62% 64% 66% 68% - 10 20 30 40 50 60 70 80 90 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Efficiency Trend1 ($ in millions) Noninterest Expense Revenue Efficiency ratio
9Central Pacific Financial Corp. Capital Strategy: Enhancing Shareholder Value Overall focus on being good stewards of capital and allocating capital optimally to provide shareholder value, while balancing risk Drive accretive returns to fuel capital growth, dividends, and strategic expansion to create long-term shareholder value and resilience through cycles. Manage risk with discipline to preserve strength, ensuring compliance, and sustaining our capacity to grow and return capital. Key Philosophies: NOTE: Total Shareholder Return is calculated based on share price movement and assumes reinvestment of dividends over the period. 3Y and 5Y period as of 3/31/26 Source: S&P Global: HI Peers represents Bank of Hawaii (BOH) and First Hawaiian Bank (FHB); Nat’l Peers includes publicly traded banks with total assets of $3-10 billion as of 12/31/25. Capital Priorities & Targets: • Quarterly cash dividend with ~40% payout ratio • Fund accretive loan growth • Share repurchases • Maintain capitalization to protect against downside macroeconomic scenarios, informed by capital stress testing • Targets: CET1: 11-12%; TCE 7.5-8.5% 105% 49%50% 7% 72% 67% 0% 50% 100% 150% 3Y 5Y Total Shareholder Returns CPF HI Peers Nat'l Peers
1Q 2026 Financial Results
11Central Pacific Financial Corp. • Deposits grew $90 million from the prior quarter, of which $75 million was from core deposits1 • Loans grew by $31 million from the prior quarter, primarily from CRE • Maintained solid asset quality – NPAs 0.19% of total assets and annualized net charge-offs of 0.18% • Repurchased 321 thousand shares of CPF common stock for $10.5 million in the first quarter 1Q 2026 Financial Highlights 1Q26 4Q25 NET INCOME / DILUTED EPS $20.7mil $0.78 $22.9mil $0.85 RETURN ON ASSETS (ROA) 1.12% 1.25% RETURN ON EQUITY (ROE) 13.90% 15.41% NET INTEREST MARGIN (NIM) 3.53% 3.56% EFFICIENCY RATIO2 59.87% 59.88% TANGIBLE COMMON EQUITY (TCE)2 7.92% 8.00% 1 Core deposits, which include demand deposits, savings and money market deposits and time deposits up to $250,000 2 Refer to non-GAAP table in the appendix
12Central Pacific Financial Corp. Key Actions & Drivers of Stronger Financial Performance • Improved loan portfolio mix with $50 million QoQ reduction in residential mortgage and home equity loans, offset by growth in commercial mortgage loans • Existing swap on $115 million municipal securities portfolio - pay fixed at 2.1%, receive float at the effective Fed Funds rate. In the money position added $0.4 million to interest income in 1Q26 Balance Sheet Optimization/Asset Liability Management • Total loan portfolio cashflows of approximately $200 million in 1Q26 • New loan weighted average yield of 6.0% in 1Q26 • Deposit costs managed down successfully over last 7 quarters Favorable Asset/Liability Repricing • Quarterly cash dividend of $0.29 per share in 1Q26 • 321 thousand shares repurchased, totaling $10.5 million in 1Q26; $44.5 million remaining authorization • Declared 2Q26 cash dividend of $0.29 per share Capital Optimization
13Central Pacific Financial Corp. 59.87 57.00 59.00 61.00 63.00 65.00 67.00 69.00 1Q24 3Q24 1Q25 3Q25 1Q26 EFFICIENCY RATIO2 % 3.53 2.5 2.7 2.9 3.1 3.3 3.5 3.7 3.9 1Q24 3Q24 1Q25 3Q25 1Q26 NIM % 13.90 8.00 10.00 12.00 14.00 16.00 18.00 1Q24 3Q24 1Q25 3Q25 1Q26 ROE2 % 1.12 0.50 0.60 0.70 0.80 0.90 1.00 1.10 1.20 1.30 1Q24 3Q24 1Q25 3Q25 1Q26 ROA2 % Profitability Improvements – In-line or Better than Peers Recent performance has broken through the CPF historical trend1; initial targets achieved 1CPF Historical trend = post-pandemic average from 1Q21 to 4Q24 depicted by pink dashed line 2CPF metrics are normalized for non-recurring items and are non-GAAP for 3Q24, 4Q24, and 3Q25. Refer to non-GAAP table in the appendix Source: S&P Global, LTM from 1Q25 – 4Q25 HI Peers represents BOH and FHB as of 12/31/25 Nat’l Peers includes publicly traded banks with total assets of $3-10 billion as of 12/31/25 LTM HI Peer Avg 1.01% LTM Nat’l Peer Avg 1.07% LTM HI Peer Avg 11.04% LTM Nat’l Peer Avg 11.55% LTM HI Peer Avg 59.21% LTM Nat’l Peer Avg 58.18% LTM HI Peer Avg 2.80% LTM Nat’l Peer Avg 3.64%
14Central Pacific Financial Corp. 0.90% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 2020 2021 2022 2023 2024 1Q25 2Q25 3Q25 4Q25 1Q26 Total Deposit Cost CPF HI Peers Nat'l Peers Low-Cost Deposits Driven by Valuable Franchise CPF total deposit cost 0.90% Interest bearing deposit beta of 33% in current cycle • Well-diversified and granular: • 51% Commercial (Average account balance of $102 thousand) • 49% Consumer (Average account balance of $19 thousand) • 53% Long-tenured customers with CPB 10 years or longer • Low reliance on public time deposits Noninterest Bearing Demand 28% Interest Bearing Demand 21% Savings & Money Market 36% Time 15% Deposit Portfolio Composition as of 3/31/26 Source: S&P Global HI Peers represents BOH and FHB as of 12/31/25 Nat’l Peers includes publicly traded banks with total assets of $3-10 billion as of 12/31/25 5.80 6.64 6.74 6.85 6.64 6.61 6.70 4.00 4.50 5.00 5.50 6.00 6.50 7.00 2020 2021 2022 2023 2024 2025 1Q26 Total Deposit ($ in billions)
15Central Pacific Financial Corp. Historical NII and NIM Expansion 50.2 51.9 53.9 55.8 57.7 59.8 61.3 62.1 61.4 3.53% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 30.0 35.0 40.0 45.0 50.0 55.0 60.0 65.0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 NII and NIM ($ in millions) NII NIM NIM up 22 bps from a year ago and 70 bps from two years ago
16Central Pacific Financial Corp. Balanced Loan Portfolio NOTE: Totals may not foot due to rounding • CRE up $110 million quarter-over-quarter • Offset by run-off of residential mortgage, HELOC, and mainland consumer • Diverse loan portfolio with over 80% secured by real estate • 83% loans in core Hawaii market • Immaterial loan exposure to non-depository financial institutions (NDFIs) of 0.1% or $5.7 million Commercial & Industrial 11% Construction 4% Residential Mortgage 34% Home Equity 11% Commercial Mortgage 32% Consumer 8% Loan Portfolio Composition as of 3/31/26 4.96 5.10 5.56 5.44 5.33 5.29 5.32 4.93% 3.50% 3.70% 3.90% 4.10% 4.30% 4.50% 4.70% 4.90% 5.10% - 1.00 2.00 3.00 4.00 5.00 6.00 2020 2021 2022 2023 2024 2025 1Q26 Loan Balances Outstanding ($ in billions) Loans Yields ($ in millions) 3/31/2026 12/31/2025 3/31/2025 $ % $ % Resi & HELOC 2,389 2,439 2,525 (50) -2% (136) -5% CRE 1,704 1,594 1,552 110 7% 152 10% C&I 591 595 635 (4) -1% (44) -7% Construction 204 213 160 (9) -4% 44 27% Consumer 432 448 462 (16) -3% (30) -6% TOTAL 5,320 5,289 5,335 31 1% (15) 0% Loan Growth, by Category QoQ Growth YoY Growth
17Central Pacific Financial Corp. Neutral Balance Sheet Sensitivity 479 407 87 21 0 250 500 750 1000 ≤3m 3-6m 6-12m 1-3yr CD Maturity ($ in millions) as of 3/31/26 1,419 27% 247 5% 659 12% 662 12% 810 15% 1,511 29% 0 500 1,000 1,500 2,000 ≤3m 3m-12m 1yr-3yr 3yr-5yr 5-15yr >15yr Loan Repricing Schedule1 ($ in millions) as of 3/31/26 ▪ Contractual maturity ▪ Rate sensitive ▪ Non-rate sensitive 1Represents loan repricing or maturing. Excludes nonaccrual loans. • 31% of Loan Portfolio contractually reprices within 1 year • Over 95% CDs reprice within 1 year, while high level of our Interest-Bearing Non- Maturing Deposits (NMDs) have the contractual ability to reprice immediately. • Cycle-to-date, the falling-rates beta on interest-bearing deposits is 33%. Non-Int Bearing Demand, $1.9B Int Bearing Demand - WAR 0.15%, $1.4B; Savings & MM - WAR 1.28%, $2.4B; CDs - WAR 2.73%, $1.0B; Deposits Composition NOTE: Totals may not foot due to rounding
18Central Pacific Financial Corp. 5 Asset quality remained solid and in the expected operating range Solid Credit Profile 0.21% 0.21% 0.28% 0.27% 0.27% 0.27% 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 NPAs/Total Loans 0.62% 0.82% 1.80% 1.77% 1.34% 1.86% 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Criticized/Total Loans 0.19% 0.13% 0.14% 0.10% 0.13% 0.09% 0.29% 0.20% 0.35% 0.20% 0.18% 0.18% 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Annualized NCO/Avg Loans All Other NCO/Avg Loans Mainland Consumer NCO/Avg Loans 59.2 60.5 59.6 60.4 59.6 59.9 1.11% 1.13% 1.13% 1.13% 1.13% 1.13% 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Allowance for Credit Losses and Coverage Ratio ACL ACL to Total Loans Ratio
19Central Pacific Financial Corp. 13.0 13.5 11.6 1.4 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 2Q25 3Q25 4Q25 1Q26 Noninterest Income ($ in millions) Noninterest Income Non-recurring • 1Q26 decrease primarily due to decreases in income from bank-owned life insurance and seasonality/market impacts • 4Q25 $1.4 million death benefit proceeds for BOLI income • Focused on growing long-term fee income from wealth management and advisory offerings • 3Q25 $1.5 million in one-time expenses related to Operations Center consolidation • Focused on process improvements and driving positive operating leverage 43.9 45.7 43.71.5 0.0 10.0 20.0 30.0 40.0 50.0 60.0 2Q25 3Q25 4Q25 1Q26 Noninterest Expense ($ in millions) Noninterest Expense Non-recurring Noninterest Income and Expense 14.2 47.0
202Central Pacific Financial Corp. 49.2 30.7 29.1 52.7 18.1 0 10 20 30 40 50 60 2022 2023 2024 2025 1Q26 Capital Return ($ in millions) Cash Dividends Share repurchases Total Strong Capital Position Supporting Organic Growth & Capital Return • Repurchased 321 thousand shares of CPF common stock for $10.5 million in 1Q26 • Quarterly cash dividend of $0.29 per share in 1Q26 • Capital Ratio Targets: • CET1: 11-12% • TCE: 7.5-8.5% 9.7% 12.6% 14.7% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% Tier 1 Leverage CET1 Total Capital Regulatory Capital Ratios As 3/31/26
Appendix
22Central Pacific Financial Corp. Non-GAAP Disclosure To supplement its consolidated financial information, the Company utilizes certain non-GAAP financial measures. These measures are not intended to be considered in isolation or as a substitute for comparable GAAP results. The Company believes these non-GAAP financial measures provide meaningful insight to investors and other stakeholders in understanding its core financial performance and position, by excluding certain transactions that may be non-recurring, non-operational, or not indicative of ongoing results. The Company believes that these non-GAAP measures offer a useful perspective for evaluating performance trends over time and are intended to support period-to-period comparisons. The Company believes they are valuable tools for both investors and management in assessing historical results and forecasting future performance. Non- GAAP financial measures may not be comparable to similarly entitled measures reported by other companies. The results for the three months ended March 31, 2026 were not materially impacted by items outside of the normal course of business. Refer to the Company’s earnings release tables for full non-GAAP reconciliation. EFFICIENCY RATIO ($ in millions) 1Q26 4Q25 Total other operating expense 43.7 45.7 Net interest income 61.4 62.1 Total other operating income 11.6 14.2 Total revenue 72.9 76.3 Efficiency ratio (non-GAAP) 59.87% 59.88% TCE RATIO ($ in millions) 1Q26 4Q25 Total shareholders’ equity 593.9 592.6 Less: intangible assets 0 0 TCE 593.9 592.6 Total assets 7,495.4 7,409.2 Less: intangible assets 0 0 Tangible assets 7,495.4 7,409.2 TCE Ratio (non-GAAP) 7.92% 8.00% Efficiency ratio is derived from GAAP-based amounts and is calculated by dividing total other operating expenses by total pre-provision revenue (net interest income plus total other operating income). Tangible Common Equity (“TCE”) Ratio is calculated by dividing tangible common equity by tangible assets. Note: Totals may not sum due to rounding.
23Central Pacific Financial Corp. Non-GAAP Disclosure (cont’d) To supplement our consolidated financial information, the Company uses certain non-GAAP financial measures, which are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. The Company believes these non-GAAP financial measures provide useful information to investors and others, which excludes transactions that are not meaningful in comparison to our past operating performance or not reflective of ongoing financial results. The Company believes that these measures offer a supplemental measure for period-to-period comparisons and can be used to evaluate our historical and prospective financial performance. These non-GAAP financial measures may not be comparable to similarly entitled measures reported by other companies. The following reconciling adjustments from GAAP or reported financial measures to non-GAAP adjusted financial measures are limited to: • 3Q25: net pre-tax expenses of $1.5 million related to the consolidation of the Company's former operations center into its main office in the three months ended September 30, 2025 • 4Q24: net pre-tax loss on sales of investment securities related to an investment portfolio repositioning of $9.9 million • 3Q24: pre-tax expenses of $3.1 million related to the evaluation and assessment of a strategic opportunity in the three months ended September 30, 2024 Management does not consider these transactions to be representative of the Company's core operating performance. The income tax effect was calculated assuming a 23% effective tax rate. Refer to the Company’s earnings release tables for full non-GAAP reconciliation. 3Q25 GAAP 3Q25 Adjustment 3Q25 Non-GAAP 4Q24 GAAP 4Q24 Adjustment 4Q24 Non-GAAP 3Q24 GAAP 3Q24 Adjustment 3Q24 Non-GAAP NET INCOME ($ in millions) $18.6 +$1.2 $19.7 $11.3 +$7.6 $19.0 $13.3 +$2.4 $15.7 DILUTED EARNINGS PER SHARE (EPS) $0.69 +$0.04 $0.73 $0.42 +$0.28 $0.70 $0.49 +$0.09 $0.58 RETURN ON ASSETS (ROA) 1.01% +0.07% 1.08% 0.62% +0.41% 1.03% 0.72% +0.13% 0.85% RETURN ON EQUITY (ROE) 12.89% +0.78% 13.67% 8.37% +5.45% 13.82% 10.02% +1.73% 11.75% TANGIBLE COMMON EQUITY (NON-GAAP) 7.92% +0.02% 7.94% 7.21% +0.12% 7.33% 7.31% +0.03% 7.34% EFFICIENCY RATIO (NON-GAAP) 62.84% -2.03% 60.81% 75.65% -11.00% 64.65% 70.12% -4.61% 65.51%
24Central Pacific Financial Corp. (*) Certain amounts in prior years were reclassified to conform to current year's presentation. These reclassifications had an immaterial impact to our previously reported efficiency ratios. Note: Totals may not sum due to rounding. Historical Financial Metrics ($ in millions) 2020 2021 2022 2023 2024 2025 1Q Balance Sheet (period end data) Loans and leases 4,964.1$ 5,101.6$ 5,555.5$ 5,439.0$ 5,332.9$ 5,289.1$ 5,320.3$ Total assets 6,594.6 7,419.1 7,432.8 7,642.8 7,472.1 7,409.2 7,495.4 Total deposits 5,796.1 6,639.2 6,736.2 6,847.6 6,644.0 6,609.8 6,699.4 Total shareholders' equity 546.7 558.3 452.9 503.8 538.4 592.6 593.9 Income Statement Net interest income 197.7 211.0 215.6 210.0 211.7 240.9 61.4 Provision (credit) for credit losses (*) 42.1 (14.6) (1.3) 15.7 9.8 15.7 2.4 Other operating income 45.2 43.1 47.9 46.7 38.7 51.8 11.6 Other operating expense (*) 151.7 163.0 166.0 164.1 172.6 178.7 43.7 Income taxes (*) 11.8 25.8 24.8 18.2 14.6 20.8 6.2 Net income 37.3 79.9 73.9 58.7 53.4 77.5 20.7 Prof itability Return on average assets 0.58% 1.13% 1.01% 0.78% 0.72% 1.06% 1.12% Return on average shareholders' equity 6.85% 14.38% 15.47% 12.38% 10.25% 13.62% 13.90% Efficiency ratio 62.47% 64.16% 63.00% 63.95% 68.91% 61.05% 59.87% Net interest margin 3.30% 3.18% 3.09% 2.94% 3.01% 3.45% 3.53% Capital Adequacy (period end data) Leverage capital ratio 8.8% 8.5% 8.5% 8.8% 9.3% 9.8% 9.7% Total risk-based capital ratio 15.2% 14.5% 13.5% 14.6% 15.4% 14.8% 14.7% Asset Quality Net loan chargeoffs/average loans 0.15% 0.02% 0.09% 0.27% 0.29% 0.23% 0.18% Nonaccrual loans/total loans (period end) 0.12% 0.12% 0.09% 0.13% 0.21% 0.27% 0.27% Year Ended December 31, 2026
25Central Pacific Financial Corp. CPB’s Hawaii Franchise Footprint 70+ year legacy 27 branches on 4 islands Kauai (1), Oahu (20), Maui (4), and Hawaii (2) & 55 ATMs
262Central Pacific Financial Corp. Tourism Visitor arrivals Feb 2026 +3.6%1 Jobs Unemployment Rate Feb 2026 2.3%1 Key State of Hawaii Highlights Hawaii Visitor Industry Update • Total visitor spending rose 10.3% YoY to $1.9 billion, supported by an increase in total arrivals1 Construction & Military Spending Strong Support to State Economy • Aloha Stadium redevelopment expected to cost over $650 million, with the surrounding development estimated to generate $2 billion in economic activity • Pearl Harbor’s shipyard infrastructure upgrade - the U.S. Navy’s largest shipyard project estimated to cost $3.4 billion Diverse Hawaii economy • State GDP driven by approximately 20% in each industry: tourism, government and real estate, with remaining 40% diversified in other industries 1 Source: State of Hawaii Department of Business, Economic Development & Tourism. Tourism represents total visitors as of Feb 2026 compared to Feb 2025 2 Source: Honolulu Board of Realtors Resilient Hawaii Economy Housing Oahu Median Single- Family Home Price Mar 2026 $1.2mil2 -3.00% -2.00% -1.00% 0.00% Hawaii is less impacted in a U.S. Recession Average % Decline in Past Recessions US Hawaii Real GDP Source: UHERO Past recessions include: 1981-1982, 1990-1991, 2001, 2007-2009, and 2020 Payrolls
27Central Pacific Financial Corp. CPB Named Best Bank in Hawaii by Newsweek, Forbes, and Honolulu Star-Advertiser • Newsweek’s America’s Best Regional Banks 2026 • Forbes’ Best-In-State Banks 2025 • Forbes’ America’s Best Banks 2025 • SBA Lender of the year for 2025
Mahalo