Abstract: The series of papers published by Gil and Ortigosa (Gil and Ortigosa, 2016; Ortigosa and Gil, 2016, 0000) introduced a new convex multi-variable variational and computational framework for the numerical simulation of Electro Active Polymers (EAPs) in scenarios characterised by extreme deformations and/or extreme electric fields. Building upon this body of work, five key novelties are incorporated in this paper. First, a generalisation of the concept of multi-variable convexity to energy functionals additively decomposed into isochoric and volumetric components. This decomposition is typical of nearly and truly incompressible materials, group which represents the majority of the most relevant EAPs. Second, convexification or regularisation strategies are applied to a priori non-convex multi-variable isochoric functionals to yield physically meaningful convex multi-variable functionals. Third, based on the mixed variational principles introduced in Gil and Ortigosa (2016) in the context of compressible electro-elasticity, a novel extended Hu–Washizu mixed variational principle for nearly and truly incompressible scenarios is presented. From the computational standpoint, a static condensation procedure is applied in order to condense out the element-wise extra fields, the resulting formulation having a comparable cost to the more standard three-field displacement-potential-pressure mixed formulation. Fourth, the computational framework for the three-field mixed variational principle in nearly and truly incompressible scenarios is also presented. In this case, the novelty resides in the consideration of convex multi-variable energy functionals. Ultimately, this leads to the definition of new tangent operators for the Helmholtz’s energy functional in the specific context of incompressible electro-elasticity. Fifth, a Petrov–Galerkin stabilisation technique is applied on the three-field formulation for the circumvention of the Ladyz˘enskaja–Babus˘ka–Brezzi (LBB) condition, enabling the use of linear tetrahedral finite elements for the interpolation of the unknowns of the problem. Finally, a series of challenging numerical examples is presented in order to provide an exhaustive comparison of the different variational formulations presented in this paper.