That's correct if, in the case of two increases, the dollar amounts in both increases are the same. But I suspect you need to use compound interest.
So the first increase is $9\%$. The second increase is $9\%\times 1.09 = 9.81\%$. This makes a total percentage increase of $ 9\% + 9.81\% = 18.81\%$.
So
$$E(X) = 9\%\times \binom{2}{1}\dfrac{2}{3}\dfrac{1}{3} + 18.81\%\times \binom{2}{2}\left(\dfrac{2}{3}\right)^2 = 12.81\%.$$