Hawaiian Electric Industries · NYSE:HE
Hawaiian Electric Industries — Corporate Update (January 2025)
9 slides from Hawaiian Electric Industries's corporate update, Jan 3, 2025
Slide 1: HEI Strategic Update January 2025
Exhibit 99 HEI Strategic Update January 2025 1
Slide 2: Transaction Overview
Transaction Overview • Transaction: Sale of 90.1% of HEI’s ownership in American Savings Bank (ASB) to independent investors in separate transactions • Timing: Sale to the independent investors closed effective December 31, 2024 • Transaction Value: ~$450 million (90.1% sold for ~$405 million) – Ref
Slide 3: Compelling Strategic Rationale
Compelling Strategic Rationale Continuing to regain HEI's financial strength as a simplified, more focused company ü Exit from banking business simplifies HEI’s strategy, regulatory position and investment thesis ü Enhanced focus on core utility business going forward ü Future capital allocation to
Slide 4: Transaction Enables Greater Financial Flexibility Moving Forward
—A Transaction Enables Greater Financial Flexibility Moving Forward HEI holding company debt* * ~$384 million in proceeds (net of transaction casts) to be used for pro-rata debt reduction across HEI holding company debt SES * Holding company’s $610 million of long-term debt has a weighted average in
Slide 5: Appendix
Appendix 5
Slide 6: Continued Momentum Toward Resolution of Wildfire Tort Litigation
-_, Continued Momentum Toward Resolution of Wildfire Tort Litigation SUMMARY NEXT STEPS « Final settlement agreements signed, consistent with key terms announced » Hawaii Supreme Court reviewing Second Circuit Court's Order requiring on August 2 insurers to seek recovery according to Hawaii law. Thi
Slide 7: Cautionary Note Regarding Forward Looking Statements
Cautionary Note Regarding Forward Looking Statements This presentation made by Hawaiian Electric Industries, Inc. (HEI) and Hawaiian Electric Company, Inc. (Hawaiian Electric) and their subsidiaries contain “forward-looking statements,” which include statements that are predictive in nature, depend
Slide 8: Cautionary Note Regarding Forward Looking Statements (continued)
Cautionary Note Regarding Forward Looking Statements (continued) • the timing, speed and extent of changes in interest rates and the shape of the yield curve, which could result in lower portfolio yields and net interest margin, or higher borrowing costs; • changes in interest rates and market liqui
Slide 9: Cautionary Note Regarding Forward Looking Statements (continued)
Cautionary Note Regarding Forward Looking Statements (continued) • the ability of IPPs to deliver the firm capacity anticipated in their power purchase agreements (PPAs); • the potential that, as IPP contracts near the end of their terms, there may be less economic incentive for the IPPs to make inv
Hawaiian Electric Industries — Corporate Update (January 2025) on 6ix