Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 38

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 38
---
 The Company currently is a lender in a variety of renewable energy projects with $148 million committed to these initiatives as of December 31, 2024, including $106 million in photovoltaic loans, $7.2 million in photovoltaic leases and $24 million in an energy savings project. Bank of Hawai‘i continues to seek out other opportunities in this sector and is a leader in these financing initiatives.

| 30 | BANK OF HAWAI'I  •  2025 PROXY STATEMENT |

| PROPOSAL 1: ELECTION OF DIRECTORS |

Environmental Highlights In 2024, Bank of Hawai ' i continued to implement Building Management Systems (“BMS”) as part of renovations or scheduled infrastructure upgrades. Through these upgrades, we are able to implement customized solutions that maximize energy conservation. Our energy initiatives to date have resulted in 75% of our building area with management systems in place. Bank of Hawai ' i also supports Hawaiian Electric Company’s Demand Response Program at our two largest facilities. Through this participation, the Company receives incentives to reduce its usage during periods of island-wide peak demand, helping to preserve the reliability of the electrical grid and reduce the need for more electrical generation equipment. Bank of Hawai ' i is dedicated to renewable energy. The Company now has photovoltaic installation on over 60% of owned branches and buildings. This includes three large photovoltaic systems (561kW, 350kW and 100kW) at its main facilities and a 150kW tenant-installed system. In 2024, the Kahului Branch leveraged 312 solar panels, a Tesla energy system, LED lighting retrofits, BMS controls, and upgraded efficiency equipment. This system produced 185,000 kilowatt-hours of energy, with over 19,000 kilowatt-hours returned to the island's power grid. In 2024, several multi-year equipment upgrades at Company properties are in the planning or implementation phases. The completed work will include replacement of one of three chillers in our Kapolei facility and added BMS connectivity. The new high-efficiency unit cools the entire facility and has reduced the monthly electrical consumption by approximately 55,000 kilowatt-hours. Our “Branch of Tomorrow” design principles continue to be used in our renovations. These focus on more efficient use of space, portable computing platforms to allow the tellers to reach out directly with customers and reduce queue times, and upgraded ATMs that allow direct deposit of cash and checks along with