HAWAIIAN ELECTRIC CO INC

During the three months ended September 30, 2026, no director or officer of HEI or Hawaiian Electric (as defined in Exchange Act Rule 16a-1(f)) adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K.

Election of Director

On November 5, 2026, the Company’s Board of Directors (the “Board”) elected Peter Ho as a director of the Company, effective immediately, to serve until the Company’s 2027 Annual Meeting of Shareholders. Mr. Ho was also appointed as a member of the Company’s Audit & Risk Committee.

There are no arrangements or understandings between Mr. Ho and any other person pursuant to which he was selected as a director of the Company and no transactions involving Mr. Ho that are required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Mr. Ho will participate in the Company’s standard non-employee director compensation program, as described in the Company’s Proxy Statement dated April 29, 2026, and will enter into substantially the same indemnity agreement that the Company entered into with each of its existing directors, the form of which is filed as Exhibit 10.17 to the Company’s Annual Report on Form 10-K for fiscal year 2025.

Compensatory Arrangements of Certain Officers

On November 5, 2026, upon recommendation from the Company’s Compensation and Human Capital Management Committee, the Board approved an increase to the annual base salary of the Company’s and Hawaiian Electric’s Chief Financial Officer (“CFO”), Paul K. Ito, from $517,900 to $580,000, retroactive to September 1, 2026. The increase recognizes the dual roles Mr. Ito has performed as the CFOs of both the Company and Hawaiian Electric since April of 2026.