Investor Presentation

May 2021

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. Further, statements about the potential effects of the COVID-19 pandemic on our businesses and financial results and conditions may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the pandemic, actions taken by governmental authorities in response to the pandemic, and the direct and indirect impact of the pandemic on our customers, third parties and us. 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, including (without limitation) the risks and uncertainties associated with the ongoing impacts of COVID-19, the domestic and global economic environment and capital market conditions and other risk factors. 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, 2020, and our Quarterly Report on Form 10-Q for the quarter

ended March 31, 2021, 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.

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STATE OF HAWAII UPDATE

STATE OF HAWAII COVID 19 TRENDS

AVERAGE DAILY

TEST POSITIVITY

NEW CASES

RATE

(Last 7 days)

(Last 7 days)

67

1.4%

DAILY AVERAGE VISITOR ARRIVALS1

(thousands)

19.1

16.7

9.3 10.2

7.46.9

3.2

1.0

21.2

Source: https://hiema-hub.hawaii.gov/pages/covid-dashboardas of 5/14/21

STATE OF HAWAII VACCINATION PROGRESS

TOTAL DOSES

PERCENT OF

PERCENT OF

ADMINISTERED1

POPULATION 18+

POPULATION 18+

1,362,417

LEAST ONE DOSE1

VACCINATED1

RECEIVING AT

FULLY

(Total population est: 1,415,857)

53%

45%

Source:https://health.hawaii.gov/coronavirusdisease2019/what-you-should-know/current-situation-in-hawaii/#vaccine as of 5/14/21

  1. Includes vaccine administered by State of Hawaii Department of Health and hospitals statewide, Department of Defense, and Federal Programs for Nursing Homes and Long Term Care Facilities

Sep-20Oct-20Nov-20Dec-20Jan-21Feb-21Mar-21Apr-21 MTD May

Source: https://hawaiicovid19.com/travel/data/

(1) MTD May through 5/14/21

HAWAII ECONOMIC INDICATORS

STATE UNEMPLOYMENT RATE

  • March seasonally-adjusted unemployment rate: 9.0%

OAHU RESIDENTIAL REAL ESTATE

(YTD through 4/30/21)

  • Median single-family home sale price: $920k, +16.7% vs prior year
  • Median condominium sale price: $451k, +3.9% vs prior year

Sources: US Department of Labor - Bureau of Labor Statistics, Honolulu Board of Realtors

2

Q1 2021 HIGHLIGHTS1

Q1 2021

Q4 2020

Net Income ($mm)

$57.7

$61.7

Diluted EPS

$0.44

$0.47

Net Interest Margin

2.55%

2.71%

Efficiency Ratio

55.5%

46.6%

ROA / ROATA2

1.02%/1.07%

1.09%/1.14%

ROE / ROATCE2

8.58%/13.51%

8.99%/14.14%

Tier 1 Leverage Ratio

7.90%

8.00%

CET 1 Capital Ratio

12.82%

12.47%

Total Capital ratio

14.07%

13.73%

Dividend3

$0.26 / share

$0.26 / share

  • Net income $57.7 mm
  • Originated over 3,600 PPP loans for $459 mm
  • Grew deposits $906 mm, 3 bp decrease in cost of deposits
  • Excellent credit quality, no provision taken
  • Well capitalized: 12.82% CET1 ratio
  • Declared $0.26 / share dividend

(1) Comparisons to Q4 2020

(2) 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.

(3) Declared on April 21, 2021. Payable June 4, 2021 to shareholders of record at close of business on May 24, 2021.

3

DIGITAL TRANSFORMATION

RELATIONSHIP BANKING REIMAGINED

Trust and Relationship:

  • Trust is our competitive advantage in an environment where bank and non-bank competitors pursue our customers
  • Continue to develop deep, meaningful relationships through In-Personand Digital Banking to provide access, convenience and personalized service

Data-driven Banking Experiences unlocks

customer opportunity

  • Digital engagement creates a richer customer transaction and behavior data set; ongoing analysis of that data set reveals needs, preferences, and opportunities that we can deliver digitally or via banker engagement

Sound advice and guidance powered by scalable, digital service with a focus on Customer Experience:

New and Enhanced

  • FHB.com
  • Personal Financial Management Platform
  • Mobile and Online Banking
  • Core Conversion built on microservices and open API framework
  • Customer Data Platform - 360 view of

customer data

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First Hawaiian Inc. published this content on 18 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2021 19:31:05 UTC.