Hawaiian Electric Industries, Inc. (HEI) filed an 8-K to provide updated U.S. federal income tax considerations for Non-U.S. Holders concerning its previously announced At-The-Market (ATM) equity offering. The ATM offering, initially disclosed on September 19, 2024, allows HEI to sell common stock with an aggregate offering price of up to $250,000,000. The updated tax considerations, filed as Exhibit 99.1, replace and supersede the equivalent section in the original prospectus supplement. The discussion outlines tax implications for Non-U.S. Holders regarding distributions and the sale or other taxable disposition of common stock, including potential withholding taxes and the company's U.S. real property holding corporation (USRPHC) status. HEI does not anticipate declaring or paying dividends to common stock holders in the near term.