First Hawaiian : FHB Investor Presentation, September 2020

Investor Presentation

September 2020

DISCLAIMER

Forward-Looking Statements

This presentation contains, and from time-to-time in connection with this presentation our management may make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements reflect our views at such time with respect to, among other things, future events and our financial performance. These statements are often, but not

always, made through the use of words or phrases such as "may," "might," "should," "could," "predict," "potential," "believe," "expect,"

"continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "would," "annualized," and "outlook," or the negative version of these words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, and any such forward-looking statements are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause our actual results to differ materially from those described in the forward-looking

statements can be found in our SEC filings, including, but not limited to, our Annual Report on Form 10-K for the year ended December

31, 2019, and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, which are available on our website (www.fhb.com) and the SEC's website (www.sec.gov). Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law.

Use of Non-GAAP Financial Measures

The information provided herein includes certain non-GAAP financial measures. We believe that these core measures provide useful

information about our operating results and enhance the overall understanding of our past performance and future performance.

Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results or financial condition as reported under GAAP. Investors should consider our performance and financial condition as reported under GAAP and all other relevant information when assessing our performance or financial condition. The reconciliation of such measures to the comparable GAAP figures are included in the appendix of this presentation.

Other

References to "we," "us," "our," "FHI," "FHB," "Company," and "First Hawaiian" refer to First Hawaiian, Inc. and its consolidated

subsidiaries.	1

Q2 2020 HIGHLIGHTS

• Strong capital and liquidity positions

	Q2 2020
Net Income ($mm)	$20.0
Diluted Earnings Per Share	$0.15
Net Interest Margin	2.58%
Efficiency Ratio	52.7%
ROA / ROATA1	0.36% / 0.38%
ROE / ROATCE1	2.99% / 4.74%
Tier 1 Leverage Ratio	7.75%
CET 1 Capital Ratio	11.86%
Total Capital ratio	13.11%
Dividend2	$0.26 / share

• 21 bp increase in CET1 ratio
• 50% reduction in cost of deposits

• Well-capitalizedwith 11.86% CET1 ratio
• CET1 ratio increased 21 bp from Q1
• Strong liquidity position
• Modified US Liquidity Coverage Ratio: 167%
• Pre-Tax,Pre-Provision Income: $82.0mm
• Declared $0.26 / share dividend

1. ROATA and ROATCE are non GAAP financial measures. A reconciliation of average tangible assets and average tangible stockholders' equity to the comparable GAAP measurements is provided in the appendix of this slide presentation.
2. Declared on July 22, 2020. Payable September 4, 2020 to shareholders of record at close of business on August 24, 2020.

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LOAN DEFERRALS

MAJORITY OF LOANS ARE RETURNING TO PAYMENT

Total Deferred Loans1	Balance	Count
($ mm)
Commercial and Industrial	931	1,433
Commercial Real Estate	1,179	434
Construction	66	40
Lease Financing	11	61
Sub-Total Commercial	2,187	1,968
Residential Mortgage	565	1,322
Consumer	276	17,898
Sub-Total Consumer	840	19,220
Grand Total	3,027	21,188

Note: Totals may not sum due to rounding

1 All loans flagged as on COVID-19 deferral as of 6/30/20

Update as of 7/21/20	Balance
($ mm)
Original Deferral Balance	3,027
Commercial: >95% returned to payment or	(2,078)
plan on returning to payment
Consumer: 91% of loans that have ended	(139)
deferrals and are back on payment
Remaining Loans on Deferral or Seeking	810
Additional Relief
Residential Mortgage (6 month deferral)	(565)
Remaining Loans on Deferral or Seeking	245
Additional Relief (ex Res mtg)

• Worked with all commercial customers who went on deferral
• • Over 95% of borrowers have returned to payment or indicated they intend to return to payment at end of deferral
  • Review resulted in 14% of commercial loans on deferral being downgraded to criticized levels
• 91% of consumer loan borrowers whose deferrals have ended have returned to payment
• • Deferrals have ended for ~$153 mm
• Residential mortgage loans are on six-month deferrals
• Of the original $3 bn of loans that went on

deferral, ~$810 mm remain on deferral or are

seeking additional relief (6.3% of loans ex PPP)

• Excluding residential mortgage loans, ~$245 mm remain on deferral or are seeking additional relief (1.9% of loans ex PPP)

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