The preparation of the financial statements in accordance with U.S. generally accepted accounting principles requires Plan management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, as well as the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

The Plan's investments are reported at fair value in accordance with Accounting Standards Codification ("ASC") 820, "Fair Value Measurements and Disclosures". Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a framework for measuring fair value and a hierarchy that prioritizes the inputs used in valuation techniques as follows:

Level 1 - Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities traded in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available.

Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3 - Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Plan's own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of discounted cash flow models and similar techniques that require the use of significant judgment or estimation.

The Plan's investment in Central Pacific Financial Corp. common stock is held through a unitized stock fund (the "Stock Fund"), which consists primarily of Company common stock, and a small allocation to a money market fund to provide liquidity. The Stock Fund is valued on a unit basis, with each unit representing a proportionate interest in the underlying investments. The unit value is calculated daily based on the fair value of the underlying assets divided by the number of units outstanding. Company common stock is valued at quoted market prices in an active market, and the money market fund is valued using observable market inputs.

The Plan's investments in collective trust funds are measured at net asset value ("NAV") per unit as a practical expedient for fair value. These funds invest primarily in synthetic investment contracts backed by high-credit-quality fixed income securities, as well as traditional investments issued by insurance companies and banks. The NAV is based on the fair value of the underlying assets as of the reporting date. The practical expedient is not used if it is probable that the Plan will sell the investment for an amount different from NAV.

Participant-directed redemptions from these funds are generally permitted daily without restriction; however, the Plan may be required to provide advance notice, typically up to one-year, to redeem its entire investment in certain funds.


	Total		Level 1		Level 2		Level 3
December 31, 2025:







Mutual funds	$	193,133,113	$	193,133,113	$	—	$	—
Common stock fund:
Common stock	1,462,775		1,462,775		—		—
Money market fund	14,446		14,446		—		—
Total common stock fund	1,477,221		1,477,221		—		—
Total Plan assets in fair value hierarchy	194,610,334		194,610,334		—		—

Collective trust funds, at net asset value (*)	14,185,853
Total investments	$	208,796,187


	Total		Level 1		Level 2		Level 3
December 31, 2024:







Mutual funds	$	172,844,709	$	172,844,709	$	—	$	—
Common stock fund:
Common stock	1,475,450		1,475,450		—		—
Money market fund	15,118		15,118		—		—
Total common stock fund	1,490,568		1,490,568		—		—
Total Plan assets in fair value hierarchy	174,335,277		174,335,277		—		—

Collective trust funds, at net asset value (*)	11,797,641
Total investments	$	186,132,918

(*) In accordance with ASC 820-10, certain investments that are measured at net asset value per share (or its equivalent as a practical expedient) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the statements of net assets available for benefits.

Net appreciation (depreciation) in fair value of investments includes realized and unrealized gains and losses on investments bought, sold, and held during the year.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date.

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recognized on the accrual basis. No allowance for credit losses has been recorded as of December 31, 2025 and 2024, as management considers participant loans to be adequately secured by the participants’ vested account balances.

The Plan may invest in various types of investment securities, including shares of Central Pacific Financial Corp. common stock held in the Central Pacific Financial Corp. Stock Fund. Investment securities are exposed to various risks, such as interest rate risk, market volatility, and credit risk. Due to the level of risk associated with

certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits.