Hawaiian Electric Industries (HE) Proxy filing summary

Executive summary

• The 2026 Annual Meeting will be held virtually on June 11, 2026, with shareholders able to vote and submit questions online.

• The company has transitioned to a pure-play electric utility holding company, following divestitures of non-utility businesses.

• In 2025, net income was $123 million, a significant recovery from the prior year's wildfire-related losses; core income was $149 million, up 20% year-over-year.

• The company maintains strong liquidity ($1.6 billion) and is advancing regulatory initiatives to support long-term financial strength.

Voting matters and shareholder proposals

• Shareholders will vote on: (1) election of twelve directors, (2) advisory approval of executive compensation, and (3) ratification of Deloitte & Touche LLP as independent auditor for 2026.

• The Board recommends voting FOR all proposals.

Board of directors and corporate governance

• The Board will expand to twelve members, integrating six current directors and six from the utility subsidiary.

• Ten of twelve nominees are independent; all committee members are independent.

• The Board conducts annual self-evaluations and has policies for director resignation upon significant employment changes or reaching age 75.

• Admiral Fargo, the current independent Chair, will step down after the 2026 meeting.

• Committees include Audit & Risk, Compensation & Human Capital Management, Executive, and Nominating and Corporate Governance.