HE

EX-99

2 heiexhibit99-8xk08x07x26.htm

EX-99

Document

HEI Exhibit 99

NEWS RELEASE

August 7, 2026

Contact:Mateo GarciaTelephone: (808) 543-7300

Director, Investor RelationsE-mail: ir@hei.com

HEI REPORTS SECOND QUARTER 2026 RESULTS

•One of Hawaiian Electric’s Largest-Ever Energy Solicitations Submitted for PUC Approval in July; Plan Would Meet Customers’ Growing Energy Needs While Modernizing Generation Fleet to Stabilize and Drive Down Costs

•Wildfire Mitigation Plan (WMP) Recovery Approved, Ensuring Critical Investments While Prioritizing Customer Affordability Through Planned Securitization

◦Recent S&P Ratings Upgrade Acknowledges Progress Made to Implement WMP and Reduce Wildfire Risk Exposure

•GAAP Net Income for the Quarter of $123 Million Includes a $101 Million1 After-tax Non-Cash Gain from Remeasuring the Remaining Wildfire Settlement Liability to Present Value. Core2 Net Income for the Second Quarter Was $22 Million Compared to $35 Million in 2025

HONOLULU - Hawaiian Electric Industries, Inc. (NYSE - HE) (HEI) today reported net income for the second quarter of 2026 of $123 million, or $0.71 per share, compared to net income of $26 million, or $0.15 per share in the second quarter of 2025. The quarter’s results include the impact of remeasuring the remaining Maui wildfire settlement liability to present value after the settlement agreement was finalized in April, resulting in the remaining payment obligations becoming fixed under contract. Excluding Maui wildfire-related items and expenses taken in connection with the review of strategic options for Pacific Current, Core net income was $22 million, or $0.13 per share, compared to $35 million, or $0.20 per share in 2025.

Note: Throughout this release, per share values are calculated based on diluted shares.

1     $114.2 million benefit ($153.9 million pre-tax) recognized in utility expenses, net of $13.2 million ($17.7 million pre-tax) accretion recognized in interest expense.

2     Measures described as “Core” for the periods in this news release are non-GAAP measures which exclude Maui wildfire-related items and expenses taken in connection with the strategic review of Pacific Current. See the “Explanation of HEI’s Use of Certain Unaudited Non-GAAP Measures” and the related GAAP reconciliation at the end of this release.

1

“In June we filed our annual action plan update to our IGP, laying out immediate actions necessary to meet customers’ growing energy needs while improving reliability, resilience and affordability. These actions include using competitive procurements for all types of generation to attract the lowest pricing for customers, and on July 17 we submitted our IGP Request for Proposals to the PUC. We are seeking to procure nearly 1,650 gigawatt-hours of variable renewable energy, 465 megawatts of grid forming resources and 111 megawatts of firm generating capacity. The proposed procurement is one of our largest ever, and would help us build a portfolio that meets the requirements of reliability and lower carbon emissions at the least cost to customers,” said Scott Seu, HEI president and CEO.

“We’ve also continued progressing our Wildfire Mitigation Plan implementation, with the PUC fully approving our Wildfire Mitigation Plan costs, which we plan to securitize as we prioritize customer affordability. Our positive credit ratings trajectory has continued as another rating agency upgraded us in recent months, acknowledging the progress we’ve made reducing wildfire risk in our service territories. Stronger credit ratings ultimately lower our cost of borrowing, which directly improves customer affordability. Moving forward, we’ll continue to focus on making the investments outlined in our Wildfire Mitigation Plan, while operating efficiently and maintaining financial strength,” said Seu.

HAWAIIAN ELECTRIC COMPANY (HAWAIIAN ELECTRIC) EARNINGS

Hawaiian Electric’s net income for the second quarter of 2026 was $138 million compared to net income of $39 million in the second quarter of 2025, with the increase primarily driven by the following pre-tax variances (among others):

•$154 million from remeasurement of the remaining settlement liability to present value (as the remaining settlement liability was adjusted from $1.44 billion to $1.30 billion and recognized on the income statement as a reduction to expense of $154 million);

•$9 million of insurance recoveries recognized as an adjustment to the tort-related legal claims;

•$8 million in higher revenues, primarily from the annual revenue adjustment mechanism; and

•$1 million in higher interest income.

These items were partially offset by (among others):

•$23 million in higher interest expense, which includes $18 million of accretion expense related to remeasuring the remaining settlement liability to present value;

2

•$9 million in higher O&M (driven by higher generation, transmission and distribution costs, higher labor and employee benefits costs and higher other

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.c706d217.1784665142.25d0b296

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

he-2026022700003547070000046207falsefalse00003547072026-02-272026-02-270000354707he:HawaiianElectricCompanyInc.Member2026-02-272026-02-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: February 27, 2026 Exact Name of RegistrantCommissionI.R.S. Employer as Specified in Its CharterFile NumberIdentification No. Hawaiian Electric Industries, Inc.1-850399-0208097 Hawaiian Electric Company, Inc.1-495599-0040500

State of Hawaii (State or other jurisdiction of incorporation) 1001 Bishop Street, Suite 2900, Honolulu, Hawaii  96813 - Hawaiian Electric Industries, Inc. (HEI) 1099 Alakea Street, Suite 2200, Honolulu, Hawaii  96813 - Hawaiian Electric Company, Inc. (Hawaiian Electric) (Address of principal executive offices and zip code) Registrant’s telephone number, including area code:

(808) 543-5662 - HEI

(808) 543-7771 - Hawaiian Electric Not applicable (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to 12(b) of the Act: RegistrantTitle of each classTrading Symbol(s)Name of each exchange on which registered Hawaiian Electric Industries, Inc.Common Stock, Without Par ValueHENew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule12b-2 of the Securities Act of 1934 (§240.12b-2 of this chapter). Emerging growth company Hawaiian Electric Industries, Inc.☐ Hawaiian Electric Company, Inc.☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Hawaiian Electric Industries, Inc. ☐Hawaiian Electric Company, Inc. ☐

Item 2.02 Results of Operations and Financial Condition. On February 27, 2026, HEI issued a news release, “HEI Reports Fourth Quarter and Full Year 2025 Results.” This news release is furnished as HEI Exhibit 99.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

HEI Exhibit 99 News release, dated February 27, 2026, “HEI Reports Fourth Quarter and Full Year 2025 Results”

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

The information furnished in connection with Item 2.02 of this current report on Form 8-K including HEI Exhibit 99 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. The signature of the undersigned companies shall be deemed to relate only to matters having reference to such companies and any subsidiaries thereof.

HAWAIIAN ELECTRIC INDUSTRIES, INC.HAWAIIAN ELECTRIC COMPANY, INC.

(Registrant)(Registrant) /s/ Scott T. DeGhetto/s/ Paul K. Ito Scott T. DeGhettoPaul K. Ito Executive Vice President andSenior Vice President, Chief Financial OfficerChief Financial Officer and Treasurer

Date: February 27, 2026 Date: February 27, 2026

2