HEI and Hawaiian Electric agree to pay $1.99B in Maui wildfire tort settlement

HAWAIIAN ELECTRIC INDUSTRIES INC

Total settlement of $4.037B includes HEI/Hawaiian Electric's $1.99B pre-tax contribution (four annual installments starting mid-2025).
Settlement covers all tort claims from Aug. 2023 Maui wildfires; no admission of liability; pending court approval.
HEI plans to finance contribution via debt, common equity, equity-linked securities; no assurance of terms.
Other paying parties: State of Hawaii, County of Maui, Kamehameha Schools, Spectrum/Charter, Hawaiian Telcom, West Maui Land.
Condition: subrogation insurers must resolve claims within 90 days or court determines exclusive remedy.

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