Letter from the CEO

To Our Valued Stakeholders,

Living on the most isolated island state in the world, we understand how important it is to take care of our land (‘aina). Hawai‘i is our home, the people are the heartbeat, and the aloha spirit is our breath. Caring for our ‘Aina and People isn’t just the name of this report, it is our approach every single day in this special place we call home.

Since our inception in 1954, Central Pacific Bank (CPB) has always been a company based on integrity, equality, and community service. Our founders were Nisei veterans who heroically fought for our country in World War II, only to be denied financial services when they returned home. This motivated them to create a bank that would help all of Hawai‘i’s people with their financial goals and dreams. Today we have 737 dedicated employees who pride themselves in helping our people and protecting our planet.

CPB continues to be at the forefront of Hawai‘i based companies in its energy efficiency and actively supports the use and installation of renewable energy and sustainable agriculture projects.

As a company, we have created programs that perpetuate diversity, mentor women business leaders, protect human rights, and support housing, education, and economic advancement.

In 2023, CPB and the CPB Foundation together donated $1.6 million to worthy nonprofit causes. CPB employees contributed more than half a million dollars to the United Way campaign alone, in addition to the other charitable fundraising drives held throughout the year. In particular, the company and our employees contributed generously to the relief efforts and to those impacted by the Maui wildfires, which was a tragic event that brought out compassion in our company and our people.

This report details numerous examples of CPB’s positive impact on the community, environment, and workplace, all of which contributes to quality corporate governance, which helps create value for our investors and best serves the passions of our employees, customers and community.

Our focus on caring for the people and land is considered in all of our business and operational decisions and is incorporated into our strategic planning, which guides us in our mission to make a positive difference in people’s lives - beyond banking.

Arnold Martines President and Chief Executive Officer

Member FDIC