Nicholas Campanella

Michael Lonegan

Jonathan Reeder

Julien Dumoulin-Smith

Michael Brown

- **Hawaiian Electric Company, Inc.**, a subsidiary of Hawaiian Electric Industries, Inc., issued **$500 million** aggregate principal amount of **6.000% Senior Notes due 2033** on **September 18, 2025**.  **[354707_0000354707-25-000056_he-20250918.htm:1]** **[46207_0000354707-25-000056_he-20250918.htm:1]** 
- The net proceeds from this offering will be used to **finance capital expenditures, repay long-term and/or short-term debt**, and/or reimburse funds for capital expenditures.  **[354707_0000354707-25-000056_he-20250918.htm:1]** **[46207_0000354707-25-000056_he-20250918.htm:1]** 
- Interest on the notes is payable **semi-annually on April 1 and October 1** of each year, beginning **April 1, 2026**.  **[354707_0000354707-25-000056_he-20250918.htm:1]** **[46207_0000354707-25-000056_he-20250918.htm:1]** **[354707_0000354707-25-000056_exhibit41hecoindenture.htm:68]** 
- Hawaiian Electric may redeem the notes prior to October 1, 2028, at 100% of the principal plus a make-whole amount, and on or after **October 1, 2028**, at specified percentages (e.g., **103.000% in 2028**, **101.500% in 2029**, **100.000% in 2030 and thereafter**).  **[354707_0000354707-25-000056_he-20250918.htm:1]** **[46207_0000354707-25-000056_he-20250918.htm:1]** **[354707_0000354707-25-000056_exhibit41hecoindenture.htm:70]** **[46207_0000354707-25-000056_exhibit41hecoindenture.htm:70]**

Hawaiian Electric Company Issues $500 Million Senior Notes Due 2033

- Hawaiian Electric Industries, Inc. (HEI) announced the pricing of Hawaiian Electric Company, Inc.'s **$500 million** aggregate principal amount of **6.000% Senior Notes due 2033** on **September 11, 2025**.  **[354707_0000354707-25-000050_exhibit991-8xk09x11x25.htm:0]** **[46207_0000354707-25-000050_exhibit991-8xk09x11x25.htm:0]** **[354707_0000354707-25-000050_he-20250911.htm:1]** **[46207_0000354707-25-000050_he-20250911.htm:1]** 
- The net proceeds from this offering are intended to **finance capital expenditures**, repay long-term and/or short-term debt used for capital expenditures, or reimburse funds used for capital expenditures.  **[354707_0000354707-25-000050_exhibit991-8xk09x11x25.htm:0]** **[46207_0000354707-25-000050_exhibit991-8xk09x11x25.htm:0]** 
- The offering is expected to close on or about **September 18, 2025**.  **[354707_0000354707-25-000050_exhibit991-8xk09x11x25.htm:0]** **[46207_0000354707-25-000050_exhibit991-8xk09x11x25.htm:0]**

Hawaiian Electric Industries Announces Pricing of Hawaiian Electric Senior Notes

- Helium Evolution (HEVI) closed an **$8.3 million convertible note** on August 29, 2025, with proceeds designated to fund its **20% working interest** in the Soda Lake Facility and support a winter drilling campaign.  **[354707_21d39f7aa813468c98eb4b00e965f639_0]** 
- The company announced its **Q2 2025 results** for the three months ended June 30, 2025, reporting a **net loss of $196 thousand** and **cash of $1,323 thousand**.  **[354707_21d39f7aa813468c98eb4b00e965f639_0]** 
- The Soda Lake Facility, a helium processing plant, is expected to become operational in **Q4 2025**, marking HEVI's first helium sales volumes.  **[354707_21d39f7aa813468c98eb4b00e965f639_0]** **[354707_21d39f7aa813468c98eb4b00e965f639_1]** 
- A winter drilling campaign in the Mankota area is anticipated to commence in **Q4 2025** and continue into **Q1 2026**.  **[354707_21d39f7aa813468c98eb4b00e965f639_0]**

HAWAIIAN ELECTRIC INDUSTRIES (HE)