HAWAIIAN ELECTRIC INDUSTRIES INC

HEI is a holding company with subsidiaries primarily involved in electric utility and non-regulated renewable/sustainable infrastructure businesses within the State of Hawaii. HEI's main sources of funds are dividends from its Electric utility operating subsidiaries, borrowings, and equity sales. The company is headquartered in Honolulu, Hawaii. HEI operates with one reportable segment: Electric utility. This segment includes Hawaiian Electric and its operating utility subsidiaries, Hawaii Electric Light Company, Inc. and Maui Electric Company, Limited. These regulated electric public utilities provide essential electric service to approximately 95% of Hawaii's population. They operate five separate grids serving communities on the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. The "All Other" non-reportable segment comprises HEI's corporate-level operating, general, and administrative expenses, along with the results of Pacific Current, LLC. Pacific Current was established in September 2017 to invest in non-regulated clean energy and sustainable infrastructure within Hawaii, supporting the state's sustainability objectives. Following the Maui windstorm and wildfires, HEI and Pacific Current have paused new investments and are reviewing strategic options for Pacific Current's assets.