HAWAIʻI GAS | 2024 Sustainability Report

2024 Sustainability Report Doing the right thing, in the right way, at the right time, for the right reason.

2 | HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT

Contents

Contents ABOUT THIS REPORT

03

LETTER FROM THE CEO

04

HAWAI‘I GAS IN 2024

06

ABOUT HAWAI‘I GAS

07

SUSTAINABILITY AT HAWAI‘I GAS

10

Our Sustainability Approach

12

Partnering for the Future

17

ENVIRONMENT

18

Our Decarbonization Journey

20

Managing Our Operations

22

SOCIAL

26

Our Employees

28

Our Customers

35

Our Communities

36

GOVERNANCE

38

Sustainability

40

Risk Management

42

Cybersecurity

45

INDEXES

46

GRI Content Index

48

TCFD Index

50

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About This Report

HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 3

About This Report This fourth annual Sustainability Report describes our continued commitment to sustainability and details our progress in 2024 at The Gas Company, LLC dba Hawai‘i Gas.

REPORTING SCOPE AND BOUNDARY This report covers activities in the period from January 1, 2024 to December 31, 2024. It highlights the progress we have made in addressing material sustainability risks and opportunities, as well as the objectives we strive to achieve.

REPORTING STANDARDS This sustainability report is prepared with reference to the Global Reporting Initiative (GRI) Standards and the Task Force on Climate-related Financial Disclosures (TCFD) to provide comprehensive, consistent, and standardized reporting.

Throughout, you will see references to the UN Sustainable Development Goals (SDGs) which we contribute to as a participating company of the United Nations Global Compact.

FOR MORE INFORMATION For any questions related to information found in this report, please visit the Hawai‘i Gas Sustainability page online at www.hawaiigas.com/sustainability.

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Letter from the CEO As we reflect on 2024, Hawai‘i Gas’ 120th year of operation, we are proud of our company’s long history of driving local innovation, and of the progress we’ve made carrying our legacy into the future.

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Letter from the CEO

In 2024, we laid the foundation for exciting new energy projects, continued to bolster our safety practices, and expanded our service in the communities we serve.

As a critical infrastructure company in a Pacific chain of islands, it is our kuleana—our responsibility—to continue innovating and to proactively address global challenges while being good stewards of the environment and our communities. By doing so, we support the resiliency of Hawai‘i’s communities and enable Hawai‘i Gas to thrive in a sustainable future while providing exceptional opportunities for our employees.

2023 renewable energy Request for Propoasl (RFP): Eurus Energy America, a renewable hydrogen project, and Bana Pacific, a renewable natural gas project. We are eager to begin integrating these innovative renewable energy solutions into our energy supply mix and continue to explore additional opportunities that can expand our proportion of renewable energy—including an exciting new project in 2025. Additionally, we participated in the GRESB Infrastructure Assessment for our sixth year, benchmarking our sustainability practices and performance against peer companies and achieving our highest score to date.

COMMITTED TO HAWAI‘I’S CLEAN ENERGY TRANSITION

SAFETY IS AT OUR CORE

Hawai‘i Gas’ top sustainability priority in 2024 was our ongoing work to support the State of Hawai‘i’s economywide decarbonization goals. In pursuit of this target, we announced the selection of two partners from our

As a critical energy supplier, we recognize the necessity of reliable and safe service for our community members and employees. We continue to proactively improve our performance on leading safety indicators so we can

Letter from the CEO

prevent incidents before they happen. For example, in 2024, we focused on improving driver safety by adding new safety targets and developing an in-house Smith System driving trainer. We also celebrated 39 employees for their dedication to ensuring a safe working environment across our facilities as part of our annual recognition program, reinforcing our organization’s strong safety culture.

UPHOLDING OUR KULEANA Everything we do at Hawai‘i Gas is rooted in upholding our kuleana. This responsibility extends to all aspects of our operations, employees, and communities. We are grateful for the hard work and dedication of our employees and remain committed to supporting their well-being and workplace satisfaction. In 2024, we established Labor Management Committee meetings to build stronger internal and external partnerships

HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 5

and expanded leadership development opportunities for supervisors and managers, including engaging an external resource to deliver inter-generational awareness training to reduce bias and enhance inclusion.

We are dedicated to upholding our responsibility to serve and support the communities where we operate. In 2024, our commitment to reliable customer service contributed to an increase in our Net Promoter Score (NPS) from 2023, alongside numerous testimonials shared through our Voice of the Customer program recognizing the exceptional efforts of our team. In addition, we actively supported our broader communities through more than 810 volunteer hours and over $300,000 in charitable donations to local organizations.

and the team that makes it all possible. We are proud of what we have accomplished and are excited to leverage the foundations we have set to drive innovative and sustainable energy solutions, doing our part to contribute to a sustainable Hawai‘i.

Sincerely,

Alicia Moy President & Chief Executive Officer

LOOKING FORWARD We remain committed to stewarding the well-being of the islands we operate on, the communities we serve, home CONTENTS

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Hawai‘i Gas in 2024 SUSTAINABILITY HIGHLIGHTS

Celebrating 120 years in business serving Hawai‘i with safe and reliable energy.

Hawai ‘i Gas in 2024

ENVIRONMENTAL Selected two new renewable energy partners to increase the proportion of RNG and green hydrogen in our energy mix

Generated over 8,200 MWh of renewable energy at the Waihonu solar farm

Extended our RNG contract with the City and County of Honolulu for an additional 10 years at the Honouliuli Wastewater Treatment Plant

Recognized by Hawaii Business Magazine as one of the Most Charitable Companies in 2024

Received an American Gas Association (AGA) Safety Achievement Award for having achieved the lowest 2023 DART1 incident rate of all AGA member Local Distribution companies

Delivered inter-generational cultural awareness training to all managers

Filed our first rate case adjustment application with the State of Hawai‘i Public Utility Commission (PUC) in seven years to support energy reliability on all islands

Submitted our sixth annual GRESB assessment, achieving a score of 96/100, based on our sustainability management practices and 2024 performance

Assigned mandatory training courses on business conduct and IT security to relevant employees

HAWAI‘I GAS CUSTOMERS

GAS CONSUMPTION

NUMBER OF EMPLOYEES

90%

10%

12%

88%

352

Residential

Commercial

Residential

Commercial

74% Men, 26% Women

SOCIAL

GOVERNANCE

2024 COMPANY KEY FACTS

69,684 total number of customers

1

1,100 miles

26.4 million

33.9 million

59%

of gas utility pipelines

Non-utility sales (in therms)

Utility sales (in therms)

of employees under collective bargaining

DART (Days Away, Restricted, or Transferred)

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Hawai ‘i Gas in 2024

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About Hawai‘i Gas The Gas Company, LLC, doing business as Hawai‘i Gas, is headquartered in Honolulu, Hawai‘i on the Island of O’ahu. Established in 1904, Hawai‘i Gas is the only government-franchised, full-service gas company manufacturing and distributing gas in Hawai‘i.

OUR BUSINESS Hawai‘i Gas manufactures synthetic natural gas (SNG), blended with renewable natural gas (RNG) and hydrogen, for its utility customers on O‘ahu, and distributes liquefied petroleum gas, or LPG (propane), to utility, tank, and bottled gas customers throughout the state’s six primary islands. It produces RNG at the award-winning Honouliuli Wastewater Treatment Plant on O‘ahu.

Hawai‘i Gas is proud to be an essential part of our community in Hawai‘i. We have over 350 employees and provide a range of gas and energy products to nearly every major market in Hawai‘i, including residential, food services, military, hospitality, health care, education, government, agriculture, and more.

Hawai‘i Gas is a portfolio company of Argo Infrastructure Partners, LP (Argo). As an independent infrastructure fund manager, Argo seeks to be a responsible and sustainable investor, thus paving the way for Hawai‘i Gas to thrive in a clean energy future.

pursue cost-effective local renewable energy projects to reduce Hawai‘i’s reliance on imported oil.

A key priority for Hawai‘i Gas is to integrate as much cost-effective RNG and green hydrogen into our fuel supply mix as possible, contributing to affordability, resilience, and sustainability for our customers and Hawai‘i’s communities. We play a vital role in Hawai‘i’s energy portfolio by providing reliable and cost-effective energy to commercial and residential customers. In collaboration with Argo, we are committed to supporting the State’s economy-wide decarbonization goals, and will continue to look toward new, innovative, and economic ways to incorporate renewable energy sources while also reducing greenhouse gas emissions and maintaining affordability.

OUR PRIORITIES We have made commitments to: • Continue to do our part to support the State of Hawai‘i’s

OUR VISION In the 1970s, the Synthetic Natural Gas (SNG) plant was built to provide Hawai‘i with a reliable, cost-effective, and cleaner source of energy than other fossil fuels, such as oil and coal. Today, Hawai‘i Gas is again at the leading edge of our industry given the integration of both RNG and hydrogen into our fuel supply mix and distributing it through the utility pipeline system. We continue to actively

economy-wide decarbonization goals • Strengthen and accelerate our clean energy

transformation and support further development of our regulated utility clean and renewable energy portfolio • Continue our efforts to increase the production and use of

renewable natural gas and green hydrogen • Donate a minimum of $300,000 in charitable

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Hawai ‘i Gas in 2024

Our Sustainability Timeline Throughout our history, Hawai‘i Gas has been an innovator in the gas utility industry.

Since its inception in 1904, Hawai‘i Gas has been committed to serving the community by providing reliable energy to the Hawaiian Islands. Over our 120 years in operation, Hawai‘i Gas has continued to evolve, incorporating renewable energy

Hawai‘i Gas was recognized by the Honolulu City Council for 120 years in operation.

“Hawai‘i Gas' employees, past and present, have exemplified professionalism, integrity, and dedication in delivering essential energy services to customers, ensuring that the company remains a trusted energy provider.

They have continuously demonstrated their commitment to sustainability, public safety, and environmental stewardship, while also giving back through community outreach programs and philanthropic efforts across the islands.”

2011 RNG Pilot Launch

2018 First RNG Production

Our RNG pilot program begins at the SNG Plant to explore the feasibility of producing RNG from animal fats and plant oils.

Production of RNG at the Honouliuli Wastewater Treatment Plant begins, supplying carbon-negative renewable fuel to customers for the first time.

2016 Honolulu RNG Contract Awarded a contract to produce RNG from the City and County of Honolulu’s Honouliuli Wastewater Treatment Plant.

sources and exploring new technologies to meet the state's energy needs. Today, the company remains a key player in Hawai‘i's energy sector, while furthering our commitments to sustainability, reliability, and innovation.

2020 Global Compact Commitment

2022 Clean Energy Acquisition

Hawai‘i Gas joins the United Nations Global Compact Network and participates in the Ambition Accelerator.

Hawai‘i Gas is acquired

by Argo Infrastructure Partners, paving the way to further commit to our clean energy goals.

2019 Emissions Benchmarking

2021 First Sustainability Report

2023 Integrated Resource Plan

Hawai‘i Gas completes its first baseline greenhouse gas inventory and submits to the GRESB Infrastructure Asset Assessment for the first time.

Hawai‘i Gas releases its first standalone Sustainability Report, highlighting our sustainability initiatives.

Hawai‘i Gas publishes its Integrated Resource Plan (IRP) and Five-Year Action Plan, illustrating a sustainable, resilient path forward for the company.

– Councilmember Augie Tulba2 2

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Excerpt from Councilmember Tulba’s speech during the recognition ceremony acknowledging our employees

2023 Renewable Supply Expansion Hawai‘i Gas issues a request for proposals from local and national suppliers to provide up to 65,000 therms of RNG and up to 2,300 kg per day of renewable hydrogen.

2024 Strategic Supplier Selection Hawai‘i Gas selects Bana Pacific (RNG) and Eurus Energy America (green hydrogen) as the outcome of the 2023 RFP.

Hawai ‘i Gas in 2024

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Our Products Hawai‘i Gas is focused on providing reliable fuel options, supporting energy needs across all islands, and enhancing sustainability through innovations like RNG.

SYNTHETIC NATURAL GAS (SNG)

HYDROGEN

LIQUEFIED PETROLEUM GAS (LPG)

Natural gas is not naturally occurring in Hawai‘i. Hawai‘i Gas produces SNG at our plant at Campbell Industrial Park by converting naphtha, a petroleum byproduct, into SNG. Our O‘ahu facility celebrating 50 years in operation is the only SNG plant in Hawai‘i. You can learn more about our SNG process here.

For the past 50 years, we have been blending 10% to 12% hydrogen—reaching as high as 15%—as part of our process of making SNG on O‘ahu. Blending hydrogen into Hawai‘i Gas’ synthetic natural gas (SNG) infrastructure offers several benefits, both from an environmental and operational perspective, as the state seeks to reduce its reliance on imported fossil fuels and move toward renewable energy sources.

LPG is a generic name for a mixture of hydrocarbon gases—typically propane and butane—which can be used like natural gas and SNG but can be transported efficiently and stored in cylinders or tanks. We operate the state’s largest LPG distribution and storage network.

Due to its portability, propane increases Hawai‘i’s energy resilience by providing a backup source of energy during and after natural disasters. Propane is also an approved clean alternative fuel under the Clean Air Act and is used in certain rural areas of O‘ahu and on the neighbor islands, where there is little or no access to the utility natural gas system.

Since 2000, approximately 50% of the hydrogen used to produce SNG has been from recycled water from the Honouliuli Wastewater Treatment Plant. Recycled water is combined with methane and other gases to produce hydrogen and additional methane in Hawai‘i Gas’ utility processes3.

RENEWABLE NATURAL GAS (RNG) RNG is a form of gas that is produced from biomass sources, such as municipal solid waste, landfills, wastewater treatment plants, livestock farms, food production facilities, and organic waste management operations. This process creates energy from renewable by-products that would otherwise be wasted or released into the atmosphere. RNG releases fewer GHG emissions during production than SNG, reducing Hawai‘i Gas’ environmental footprint.

3

At Hawai‘i Gas, we are very active with hydrogen initiatives both locally and at a national level. We also participate in national hydrogen-blending research and development. Because Hawai‘i Gas has been blending hydrogen with our utility SNG since the early 1970s, there is significant interest in our pipeline operations and experience with gas appliances.

We continue to assess ways to further increase the proportion of hydrogen we blend into our system.

LIQUIFIED NATURAL GAS (LNG) LNG is natural gas cooled down to liquid form. Hawai‘i Gas is authorized by the State of Hawai‘i PUC to displace up to 30% of our SNG production with LNG to diversify our supply to utility customers on O‘ahu.

SOLAR ENERGY In 2016, Hawai‘i Gas, through a Hawai‘i Gas sister organization, commissioned our first solar project, the 6.5-megawatt Waihonu Solar Farm on O‘ahu, which generates enough power for approximately 1,000 homes. Waihonu Solar Farm is contracted to sell electricity to Hawaiian Electric under a 20-year power purchase agreement.

Hawaii Revised Statutes (HRS) 269.45, Gas Utility Companies Renewable Energy Report, pg. 1 home CONTENTS

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Sustainability at Hawai‘i Gas At Hawai‘i Gas we believe in Kīnā’ole, “Doing the right thing, in the right way, at the right time, for the right reasons, the first time.”

Sustainability at Hawai ‘i Gas

Sustainability at Hawai ‘i Gas

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Our Sustainability Approach We believe that managing sustainability risks and opportunities contributes to productive relationships, protects value, respects the environment, and creates a better work atmosphere, while enhancing long-term financial returns.

Kīnā’ole requires us to reduce our carbon footprint; foster energy, innovation, and conservation; create diverse opportunities for our team; champion our people through employee engagement; support our local community; and lead with integrity.

Sustainability at Hawai ‘i Gas

AS PART OF OUR SUSTAINABILITY STRATEGY AT HAWAI‘I GAS, WE AIM TO: Good Health and Well-Being

• Ensure safety and the well-being of all Hawai‘i Gas employees is a top priority.

Gender Equality

• Improve gender equality within our organization.

Affordable and Clean Energy

• Ensure access to affordable, reliable, sustainable, and modern energy through our products.

Industry, Innovation and Infrastructure

• Build resilient infrastructure in our state, promote inclusive and sustainable industrialization, foster innovation, particularly in the areas of RNG and green hydrogen, and develop sustainable infrastructure.

Responsible Consumption and Production

• Ensure sustainable consumption and production by diversifying our fuel stock to include more renewable sources of energy.

Climate Action

• Take meaningful action to combat climate change and its impacts around the world and on our island home of Hawai‘i.

Life on Land

• Protect, restore, and promote sustainable use of terrestrial ecosystems and combat biodiversity loss across Hawai‘i.

UN SUSTAINABLE DEVELOPMENT GOALS The UN Sustainable Development Goals (SDGs) were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. There are 17 SDGs that contribute to global social, economic, and environmental sustainability.

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Sustainability at Hawai ‘i Gas

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Materiality Assessment In 2022, Hawai‘i Gas conducted a materiality assessment to identify sustainability topics relevant to our business and stakeholders. The assessment provided insights on which topics are most important to Hawai‘i Gas and how we plan to address related risks.

The sustainability topics were selected based on their specific relevance to the gas utilities industry, with reference to leading assessments and standards, including GRESB, the Sustainability Accounting Standards Board (SASB) Standards for Gas Utilities and Distributors, and the Global Reporting Initiative (GRI).

OUR MATERIALITY ASSESSMENT DETERMINED THAT THE FOLLOWING SUSTAINABILITY TOPICS ARE IMPORTANT TO HAWAI‘I GAS’ BUSINESS AND STAKEHOLDERS: ENVIRONMENTAL

SOCIAL

GOVERNANCE

• Air Pollution • Contaminated Land • Energy • Greenhouse Gas Emissions • Hazardous Substances • Materials Sourcing & Resource Efficiency • Noise Pollution • Physical Risk • Waste and Water Discharge

• Community Development • Customer Satisfaction • Employee Engagement • Freedom of Association • Health & Safety: Community • Health & Safety: Employees • Health & Safety: Supply Chain • Health & Safety: Users • Human Capital • Labor Standards and Working Conditions • Local Employment & Stakeholder Relations

• Audit Committee Structure/ Independence • Board Composition • Board ESG Oversight • Bribery & Corruption • Compensation Committee Structure/ Independence • Conflicts of Interest • Cybersecurity, Data Protection & Privacy • Delegating Authority • Executive Compensation • Fraud • Independence of Board Chair • Lobbying Activities • Political Contributions • Shareholder Rights & Whistleblower Protection

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Sustainability at Hawai ‘i Gas

RISK ASSESSMENT Hawai‘i Gas conducted a risk assessment to determine the likelihood and severity of associated risks related to the material sustainability topics identified for our business. Likelihood and severity for each risk were rated on a 1-to-5 scale, then combined to determine an overall risk rating for the given topic. This assessment allows us to analyze risks relevant to our operations and determine appropriate mitigation and management practices. Bold text in the table on page 13 indicates sustainability topics relevant to medium risks. No high or very high risks were identified in our assessment.

THE FOLLOWING RISK RATING FRAMEWORK WAS USED TO CATEGORIZE RISKS AS LOW, MEDIUM, HIGH, OR VERY HIGH.

1 NEGLIGIBLE

2 MINIMAL

3 MODERATE

4 SEVERE

5 CATASTROPHIC

1 RARE

Low

Low

Low

Medium

Medium

2 UNLIKELY

Low

Low

Medium

Medium

High

3 POSSIBLE

Low

Medium

Medium

High

High

4 LIKELY

Low

Medium

High

High

Very High

5 ALMOST CERTAIN

Medium

Medium

High

Very High

Very High

2025 MATERIALITY AND RISK ASSESSMENT UPDATES To ensure our sustainability priorities and risk mitigation efforts remain aligned with our stakeholders’ priorities, we are planning to conduct updated materiality and risk assessments in 2025.

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Sustainability at Hawai ‘i Gas

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Our Sustainability Commitments

We continue to make progress on the sustainability commitments detailed in our ESG Policy and are pleased to share the initiatives undertaken in 2024 throughout this report.

ENVIRONMENTAL

SOCIAL

GOVERNANCE

Hawai‘i Gas is committed to supporting Hawai‘i’s clean energy and economy-wide decarbonization goals and will continue to look toward new innovative and cost-effective ways to decarbonize our fuel sources. A key priority for Hawai‘i Gas is to integrate as much cost-effective renewable energy into our fuel supply mix as possible while maintaining affordable and reliable energy for our customers and community.

We are committed to providing a safe working environment and supporting the development of our employees. We give back to our communities through our Kōkua Giving program and are dedicated to providing exceptional service to our customers.

We are committed to strong governance practices and maintaining oversight of sustainability and climate-related issues at a board level. We align executive compensation with industry best practice and the company’s long-term objectives by integrating safety and sustainability (including Human Capital) into compensation plans.

We hold a high standard of business ethics through our employee code of conduct and ensure sensitive company information is protected through data security policies and modern cybersecurity solutions.

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Sustainability at Hawai ‘i Gas

Measuring Sustainability Performance Since 2020, Hawai‘i Gas has disclosed its sustainability performance annually through the GRESB Infrastructure Asset Assessment. GRESB is an industry-led organization that provides actionable and transparent sustainability data to financial markets. Our participation in GRESB enables us to track our sustainability performance over time and against our peers.

Over the past five years, Hawai‘i Gas improved our GRESB score from 60 for 2019 to 96 for 2024. This is a result of sustainability efforts undertaken at Hawai‘i Gas, including establishing our ESG Policy, measuring and monitoring our GHG emissions, and conducting a materiality assessment.

HAWAI‘I GAS GRESB SCORES 100 85 80

89

94

96

2023

2024

68 60

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2021

2022

Sustainability at Hawai ‘i Gas

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Partnering for the Future We collaborate with organizations locally and around the world that share similar goals in furthering energy policy, combating climate change, and adopting sustainable and socially responsible business practices.

SUSTAINABILITY BUSINESS FORUM (SBF)

OUR GLOBAL ENGAGEMENTS

OUR LOCAL ENGAGEMENTS

The Sustainability Business Forum (SBF) is a public-private partnership committed to advancing economic, social, and environmental goals. One of its aims is to connect Indigenous knowledge and systems-thinking evolving over generations with modern science, technology, and policy to support scalable solutions that can be applied globally.

United Nations Global Compact Initiative

HEC Climate Coalition Pledge

Hawai‘i Gas is proud to be a participating member and supporter of the following SBF initiatives:

Launched in 2000, the UN Global Compact is the largest corporate sustainability initiative in the world, with a network of over 95,000 companies and 3,000 nonbusiness participants committed to building a sustainable future. Hawai‘i Gas submits an annual Communication on Progress (CoP), which is a key component of our commitment to the UN Global Compact. It describes the progress Hawai‘i Gas has made on UN Global Compact’s Ten Principles and is a visible expression of our continued commitment to the Compact.

As leaders of Hawai‘i’s largest organizations and institutions, members of the Hawai‘i Executive Collaborative (HEC) recognize the impact of climate change on our island home. As a signatory to the HEC Climate Coalition Pledge, Hawai‘i Gas is committed to taking actions to reduce emissions, increase our resiliency, and work together to support an equitable transition to a climate-resilient economy, society, and environment for everyone in Hawai‘i.

Rediscovering Hawai‘i’s Soul Network Gathering

RNG Coalition Hawai‘i Gas is a member of the Coalition for Renewable Natural Gas (RNG Coalition), the public policy advocate and education platform for North America’s RNG industry. The RNG Coalition advocates for sustainable development, deployment and utilization of renewable natural gas to ensure present and future generations will have access to domestic, renewable, and clean fuel and energy.

Hawai‘i Gas participated in the second annual Rediscovering Hawai‘i’s Soul Network Gathering led by HEC and its partners. The gathering convened a diverse group of leaders—including Native Hawaiian elders and business and nonprofit professionals from organizations across Hawai‘i—to examine the possible futures of Hawai‘i and discuss how to encapsulate the essence of Hawai‘i’s Soul in words and actions. These cross-sector collaborations deepen our island consciousness and advance our values-based collaborative efforts rooted in our island culture.

Hawai‘i Green Growth (HGG) • A United Nations Local 2030 hub that brings together diverse stakeholders committed to economic, social, and environmental priorities.

The hub highlights islands as leaders in innovation, providing a holistic approach to solutions grounded in a legacy of systems thinking.

Aloha+ Challenge • A statewide commitment to achieve Hawai‘i’s sustainability goals and a locally-driven framework to implement the United Nations Sustainable Development Goals. The challenge aims to develop community-based 2030 goals and measurable targets across six priority areas: clean energy transformation; local agriculture; natural resource management; solid waste reduction; green workforce and education; and smart sustainable communities.

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Environment We are committed to supporting the state of Hawai‘i’s clean energy and economy-wide decarbonization goals.

Environment

Environment

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HIGHLIGHTS Selected two new renewable energy partners to increase the proportion of RNG and green hydrogen in our energy mix

Generated over 8,200 MWh of renewable energy at the Waihonu solar farm

Extended our RNG contract with the City and County of Honolulu for an additional 10 years at the Honouliuli Wastewater Treatment Plant

ENVIRONMENTAL SDGS

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Environment

Our Decarbonization Journey Preparing for Our Future HAWAI‘I GAS’ INTEGRATED RESOURCE PLAN In 2022, the State of Hawai‘i Public Utilities Commission (PUC) launched an initiative requiring Hawai‘i Gas to undertake Integrated Resource Planning (IRP). IRP is a process for Hawai‘i Gas and our stakeholders to ensure energy reliability and affordability while meeting decarbonization goals.

We remain committed to transforming our energy sources and considering all resource possibilities while balancing many additional factors. This commitment led us to release our Integrated Resource Planning Report and Action Plan in 2023.

HAWAI‘I GAS ACTION PLAN After setting our IRP Action Plan in 2023, Phase 2 moves the IRP from planning to regulatory vetting.

OUR ACTION PLAN ENSURES THAT WE...

Address and further Hawai‘i state policies, including emissions reductions and decarbonization goals

Establish a pathway to increase the proportion of renewable resources in Hawai‘i Gas’ fuel mix

In 2025, Hawai‘i Gas will begin receiving information requests from intervenors, participants, and the Consumer Advocate, which we will respond to in a timely manner.

After discovery, intervenors and participants will file Statements of Position, with Hawai‘i Gas replying thereafter.

Throughout this phase, the State of Hawai‘i PUC will decide whether the IRP Report and Action Plan:

Assess supply chain reliability and resilience for Hawai‘i Gas

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Ensure customer energy affordability

1. Advances state decarbonization policy 2. Grows the share of renewables in our fuel mix 3. Bolsters supply-chain resilience 4. Protects customer energy affordability

Environment

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ADVANCING RNG AND GREEN HYDROGEN Hawai‘i Gas has used RNG produced at the City and County of Honolulu’s Honouliuli Wastewater Treatment facility since 2018 and has led the nation in blending up to 15% hydrogen into our gas mix since 1974.

Increased use of RNG and green hydrogen has been a part of our clean energy planning and is expected to play a significant role in the future of our island home.

In 2024, we continued to supply RNG into our utility gas supply (up to 1.5% of our total feedstock) and extended our contract with the City and County of Honolulu, ensuring continued RNG production from this facility for an additional 10 years. Hawai‘i Gas also responded to a formal solicitation for landfill gas at Waimanalo Gulch Landfill in October 2024 and is awaiting next steps from the City.

2023 RFP SELECTIONS In line with our sustainability commitments and our IRP action plan, we issued an RFP in 2023 for the supply of up to 65,000 therms per day of RNG and 2,300 kilograms of green hydrogen.

By September 2023, we received eight project submissions (four hydrogen, three RNG, and one bio-naphtha) and in May 2024, selected our two successful partner projects.

SELECTED RFP

SELECTED RFP

BANA PACIFIC RNG PROJECT

EURUS ENERGY AMERICA GREEN HYDROGEN PROJECT

Hawai‘i-based Bana Pacific will use local bana grass (cane grass) to produce RNG on O’ahu. By harnessing this locally available crop that requires minimal water to grow and naturally increases carbon sequestration in soil, this project has high potential for replication across the state. This project will produce up to 65,000 therms per day of RNG and is expected to increase the RNG concentration in our fuel mix.

Eurus Energy America specializes in producing green hydrogen using solar photovoltaic power and recycled water. Located on O‘ahu, this project is expected to supply up to 2,300 kg of renewable hydrogen per day and increase the hydrogen concentration in our fuel mix up to 20%.

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Managing our Operations

Environment

SCOPE 1 & 2 GHG EMISSIONS

64,424

65,094

Scope 1 GHG Emissions (tCO2e)5

58,255

Hawai‘i Gas continues to focus on initiatives to reduce our GHG emissions by investing in new sources of renewable energy, such as green hydrogen and RNG.

Scope 2 GHG Emissions (tCO2e)

49,534

2020 and 2021 GHG emissions were low due to COVID-19, and the increase in 2022 and 2023 is returning to normal operations.

GREENHOUSE GAS EMISSIONS In Hawai‘i, the energy sector produces approximately 18 million tonnes of carbon dioxide equivalent (tCO2e) or 88% of all emissions.4 Sources of natural gas emissions include fugitive emissions from propane and synthetic natural gas, which account for about 0.5% of the state’s total emissions.

65,979

5,631

5,608

5,600

5,466

5,457

2020

2021

2022

2023

2024

2024 HAWAI‘I GAS EMISSIONS BY GREENHOUSE GAS 0.0%

0.2% 12.5%

In 2024, Hawai‘i Gas emitted 70,551 tCO2e. Scope 1 GHG emissions (direct emissions from sources owned or controlled by Hawai‘i Gas) accounted for 65,094 tCO2e and Scope 2 emissions (indirect emissions from purchased electricity, steam, heating, or cooling) accounted for 5,457 tCO2e. Our SNG plant at Campbell Industrial Park comprised approximately 77% of our total Scope 1 and 2 GHG emissions. Our Scope 1 and Scope 2 GHG emissions decreased slightly in 2024 compared to 2023. Hawai‘i Gas also upgraded 173,631 therms of biogas to biomethane from the Honouliuli WWTP Biogas project, resulting in methane capture equivalent to 626 tCO2e.

87.3%

CO2

12.5%

CH4

0.2%

N2O

0.0%

HFC, PFC, SF6, and NFF3 Emissions

87.3%

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2022 Hawai‘i State GHG Emissions Report Scope 1 GHG Emissions represents gross GHG Emissions, and does not include avoided emissions from RNG production

Environment

HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 23

Managing Our Resource Consumption We are committed to improving our energy and water efficiency, as well as minimizing waste in our operations.

We monitor resource consumption to identify efficiency opportunities.

ENERGY Hawai‘i Gas has been integrating on-site solar into our operations, bringing renewable energy to a total of six sites. We also continue to assess energy efficiency opportunities at our facilities statewide.

Our Kamake‘e location is part of Hawai‘i Green Growth’s “Green Your Business” initiative, which aims to measure and improve energy efficiency in industrial facilities and offices through upgrades, employee education, and operational and behavioral changes. Since 2014, the Kamake‘e office has reduced its energy use from 551,253 kWh per year to 199,398 kWh in 2024, a reduction of 64%. As a business, we consumed 908,035 MWh of energy in 2024.

In addition to reducing energy consumption where possible, we continue to harness renewable energy as an opportunity to reduce our consumption. Waihonu Solar Farm continues to be a valuable asset to our portfolio and produced over 8,200,000 kWh of solar energy in 2024.

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Environment

WATER As an island community, we place great importance on water. We are dedicated to responsible water stewardship while demonstrating our progress toward mitigating water-related impacts on Hawai‘i.

The SNG plant, our main production facility, uses reclaimed and recycled water from the City and County of Honolulu’s Honouliuli Wastewater Treatment Plant.

Hawai‘i Gas also conducted a comprehensive water audit as an important component of our company initiatives. The audit provided a four-year assessment of water consumption—from 2019 through 2022—at our main office facility, located in Kaka‘ako (Kamake‘e).

Through this analysis, we gained valuable insights into our water usage patterns, pinpointing areas of efficiency and opportunities to reduce consumption, cost, and our carbon footprint.

HISTORICAL OPERATIONAL WATER CONSUMPTION

Kamakee, 5895241413

1141 Kona Street

1140 Waimanu Street Kamakee, 1683859810

2024 Consumption (kGallons)

866 735

509 Kamakee Street

Kamakee, 4206421704

2023 Consumption (kGallons)

27 55 39 44

91-390 Kauhi Street

18,205 17,502

RO, 2882268875 (recycled water)6

91-390 Kauhi Street SNG, 7997518265

185 302

Recycled water is provided by the Honouliuli wastewater treatment plant as industrial process water for production of SNG.

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Environment

HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 25

WASTE We track hazardous waste across the full operational cycle at our SNG Plant.

Our employees abide by waste management procedures and applicable regulatory requirements. This allows us to ensure safe handling and disposal of hazardous waste for the health and safety of our employees and to protect the natural environment. Non-hazardous waste consumption increased in 2024 due to an increased scope of materials being included in our tracking metrics. Hazardous waste values were higher in 2023 due to reduced demand for waste materials that Hawai‘i Gas has historically been able to divert from landfill for reuse by others.

HISTORICAL OPERATIONAL WASTE CONSUMPTION

2023 Waste (Tons)

2024 Waste (Tons)

8.51 Hazardous 0.38

236 Non-hazardous 866

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Social We are dedicated to upholding our kuleana to our employees, communities, and stakeholders.

Social

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HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 27

HIGHLIGHTS Recognized by Hawaii Business Magazine as one of the Most Charitable Companies in 2024

Received an American Gas Association (AGA) Safety Achievement Award for having achieved the lowest 2023 DART1 incident rate of all AGA member Local Distribution companies

Delivered inter-generational cultural awareness training to all managers

SOCIAL SDGS

28 | HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT

Our Employees At Hawai‘i Gas, we believe that our greatest asset is our people.

Developing our employees is not just a strategic priority, it is a core value that defines our culture and drives our success.

We understand that when our team members feel valued, supported, and empowered, they are more engaged, innovative, and committed to excellence.

Empowerment at Hawai‘i Gas means providing our employees with the tools, resources, and opportunities they need to thrive. We invest in continuous learning and development, ensuring that our team has access to the latest knowledge and skills to excel in their roles.

We continue to invest in our people, foster an inclusive culture, and empower our employees to reach their full potential.

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HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 29

EMPLOYEE ENGAGEMENT Employee engagement improves our work culture, increases job satisfaction, and reduces turnover.

“Employee engagement is about more than just job satisfaction—it reflects how connected, committed, and motivated our people feel in their roles and within our organization as a whole. It speaks to whether employees feel valued, supported, and heard, and whether they are inspired to contribute their best each day. Fostering a culture of engagement is essential to our longterm sustainability, as it drives performance, strengthens retention, and promotes a workplace where people feel a sense of purpose and belonging.”

We remain deeply committed to our employees and prioritize our workplace culture and the satisfaction they feel as valued members of Hawai‘i Gas. To maintain consistent engagement with our employees we launched our Labor Management Committee meetings to focus on building and strengthening internal and external partnerships, and restructured roles and teams based on feedback from our employee engagement. We also implemented pilot groups for team engagement using the program Rising Team and increased management training. These employee engagement initiatives drove numerous benefits, such as improved collaboration and communication between team members.

In 2024, Hawai‘i Gas engaged an external resource to provide "Leading Generations in the Workplace" training. This program helps navigate cultural differences between generations by challenging stereotypes, reducing bias, preventing harassment, and fostering constructive conflict management. Hawai‘i Gas takes these differences into consideration throughout our employee engagement initiatives, including our annual survey and related activities.

– Manu Bermudes, VP Human Resources

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CASE STUDY

INVESTING IN LOCAL WORKERS WITH GOOD JOBS HAWAI‘I This past year, we participated for a third year in Good Jobs Hawai‘i, a coalition of businesses, educators, and community partners working to help people in Hawai‘i obtain high-quality jobs and careers while ensuring employers meet their needs for a skilled, local workforce. Good Jobs Hawai‘i is focused on transforming Hawai‘i’s workforce in four in-demand industries—health care, IT, clean energy, and creative industries. As a member of this program, we have signed on to the Good Jobs Hawai‘i Employer Talent Action Pledge. This pledge ensures that we provide equitable pathways to quality jobs, prioritize the local workforce, and take action to develop a skilled, local-talent pipeline.

1

Engage

• Sector partnerships • Collective action to co-create talent

2

Commit to Quality Jobs

• Economic stability • Economic mobility • Equity, respect, & worker voice

3

4

Prepare & Connect

Hire & Promote

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Our people are central to our long-term sustainability and success. Hawai‘i Gas is committed to cultivating an engaged, inclusive, and high-performing workforce by investing in employee development, strengthening leadership capability, and building a workplace culture rooted in trust and respect.

We continue to advance our talent strategy through evidence-based recruitment and retention practices designed to attract and grow a diverse workforce at all levels of the company. In 2024, we expanded management training to include a deeper focus on the recruitment process, interview techniques, and creating equitable candidate experiences. Beyond hiring, we reinforced the importance of employee engagement through regular communication, professional and career development opportunities, and access to resources that support well-being. Our open-door policy remains a defining part of our culture—encouraging transparency, collaboration, and shared accountability.

Our annual Employee Engagement Survey, conducted in partnership with the Hawai‘i Employers Council, serves

• On-the-job training (including internships)

LEADERSHIP DEVELOPMENT

• Hire qualified Hawai‘i residents

Hawai‘i Gas provides opportunities for all leaders to grow, connect, and achieve their full potential.

• Spread the word • Recruit students & encourage businesses

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Investing in Our People

as a key measure of our progress. In 2024, employee participation increased by 11%, reflecting growing confidence in our listening and feedback processes.

Results demonstrated continued improvement across multiple categories from prior years, including safety, supervisor-employee relationships, and pride in working for Hawai‘i Gas. These results validate the impact of our sustained efforts to strengthen connection and communication across the organization.

By continuously listening, learning, and acting on employee feedback, we are driving meaningful improvements in engagement, retention, and overall employee satisfaction—ensuring our workforce remains empowered to support the company’s clean energy transformation goals and the communities we serve.

• Work-based learning

• Upskill current workforce

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We recognize that leaders require new skills and capabilities at different stages of their careers. To this end, we offer three levels of learning programs, providing the right tools during career transitions as well as ongoing development for leaders who are well established in their roles.

New Leader Onboarding

Leadership Development

On-Demand Learning

Emerging Leaders

Established Leaders

All Leaders

New Managers or Individual Contributors

Supervisors through Directors

Supervisors through Directors

Providing foundational skills that will build confidence and seamless integration into our culture.

Building upon the basics, including an introduction to our Leadership Competencies and the application of Myers-Briggs Type Indicator (MBTI).

The HG Learning Portal is a free resource to gain insight and develop leadership proficiency on one more competencies.

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2024 Employee Demographics

HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 31

WORKFORCE BY GENDER

WORKFORCE BY ETHNICITY 26%

In 2024, women comprised 60% of our Executive Leadership Team, including our CEO, CFO, and VP of Human Resources.

We also recognize there is room for improvement in pay equity as our gender pay gap in 2024 was -5.9%. To address this gap, we provided our managers with training on interviewing techniques and avoiding biases as well as conducted targeted recruitment outreach through Circa Works, a third-party service.

1%

<1%

9%

41% 21%

As a male-dominated industry, we recognize there is much work to do to improve female representation within our company and industry.

We monitor promotion of female employees and the gender pay gap. We are proud of the progress we have made, with women representing 22% of all promotions in 2024 and 30% of all new hires. Our female promotion rate approximately mirrors the overall proportion of female employees in our company, demonstrating the equitable opportunities available at Hawai‘i Gas.

7%

74% 21% 26% Female

74% Male

NEW HIRES BY GENDER

41%

Asian

7%

Hispanic/Latino

21%

Two or more ethnicities

1%

Black/African American

21%

Native Hawaiian/Pacific Islander

<1%

American Indian/Alaskan Native

9%

White (Non-Hispanic)

PROMOTIONS BY GENDER 22% 30%

70%

30% Female

70% Male

78%

22% Female

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Health + Safety At Hawai‘i Gas, safety is our top priority.

Our Environmental Health and Safety (EHS) Department is dedicated to safeguarding the well-being of our employees, communities, and the environment and maintaining the highest standards of safety, compliance, and environmental stewardship. Our EHS Department continuously identifies, assesses, and mitigates risks to ensure that our operations are carried out with the utmost focus on the well-being of our employees, contractors, and the public.

The team conducts Occupational Health and Safety training sessions each year and internal safety and compliance audits to ensure safety policies and compliance

procedures are working effectively.

In 2024, nearly 100% of Hawai‘i Gas employees participated in these training sessions.

To continue to grow our proactive safety culture, we set an annual safety target for leading indicators. The target focuses on four leading safety indicators: near misses, safety observations, hazard identification, and safety wins. In 2024, we raised the proactive safety target from 50% to 60% participation. Safety metrics are critical to evaluating the performance of our business. We include our yearly safety metrics and targets in the table on page 33.

OUR 2024 SAFETY ACHIEVEMENTS

70%

77%

proactive safety target established to strengthen our culture of prevention.

employee participation achieved toward proactive safety initiatives by year-end.

38%

99.6%

fewer avoidable vehicle incidents

of employees completed safety training.

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HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 33

CASE STUDY

ANNUAL SAFETY METRICS AND TARGETS Safety Metric

2020

2021

2022

2023

2024

2024 Target

Target Status

Lagging Safety Indicators OSHA Recordable Incidents7

N/A

N/A

N/A

4

6

7

Achieved

OSHA Recordable Incident Rate8

0.59

1.71

0.40

1.18

1.76

1.80

Achieved

Lost Time Injuries

N/A

N/A

N/A

1

3

3

Achieved

Lost Time Injury Frequency Rate10

0.59

1.71

0.40

0.30

0.88

1

Achieved

Days Lost Frequency Rate11

67.91

22.16

12.31

53.14

53.67

20

N/A

Near Misses12

N/A

136

139

109

89

N/A

Safety Observations13

N/A

N/A

N/A

459

303

N/A

Hazard Identification14

N/A

N/A

N/A

415

493

N/A

Safety Wins15

N/A

N/A

N/A

84

60

N/A

Proactive Safety Participation16

N/A

N/A

N/A

82%

77%

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LEVERAGING AI FOR ENHANCED ROAD SAFETY In 2024, the EHS Department presented the business case to implement an in-cab, AI-enabled safety system in company vehicles. The Samsara© system consists of a camera that looks forward from the cab at the road ahead, and also inward towards the driver.

The AI-enabled camera will provide in-cab alerts and coaching for drivers and will also collect driving data continuously that we can use to evaluate driver performance and improve driver coaching. The Executive Team approved the concept, and work was initiated to develop a deployment plan for the Samsara system.

Leading Safety Indicators

70%

Achieved

OSHA Recordable Incidents (ORI): Total recordable work-related injuries and illnesses that result in one or more of the following: medical treatment beyond first aid, one or more days away from work, restricted work or transfer to another job, diagnosis of a significant injury or illness, loss of consciousness, or death.

8 OSHA Recordable Incident Rate (ORIR): Measures the number of employees within a year that have been involved in an OSHA work-related incident, per 100 employees.

9 Lost Time Injuries (LTI): Measures the total number of work-related injuries or illnesses that result in an employee being unable to perform their regular duties and requires them to take time off from work.

10 Lost Time Injuries Frequency Rate (LTIFR): Measures the number of lost-time injuries per 1,000,000 employee hours worked during a single financial year.

11 Days Lost Frequency Rate (DLFR): Measures the total lost workdays in a year per 100 employees.

12 Near Misses: Measures the total number of events that do not lead to harm but has the potential to cause illness or injury.

13 Safety Observations: Measures the percentage of working practices and conditions that are deemed safe by the observer.

14 Hazard Identification: Measures the total number of employee-identified safety hazards reported during the course of the year.

15 Safety Wins: Employee-identified actions taken that result in avoidance of a safety incident.

16 Proactive Safety Participation: % of our employee population to complete a minimum of two proactive safety indicator activities (safety observations, hazard identification, safety wins).

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EMPLOYEE SAFETY RECOGNITION PROGRAMS Hawai‘i Gas employees are recognized for their exemplary dedication and commitment to workplace safety through two programs, Providing Extra Effort in Recognizing Safety (PEERS) and Spot Recognition.

Through the PEERS program, employees are encouraged to recognize their peers for demonstrating a high commitment to workplace safety. The Spot Recognition program is for supervisors to award employees who go above and beyond to contributing towards Hawai‘i Gas’ goals of achieving an “interdependent” safety culture and fostering a safe, accident-free workplace.

Throughout 2024, 39 Hawai‘i Gas employees were recognized for their dedication to ensuring a safe working environment at our facilities. Some of the notable efforts by employees included improvements in Universal Waste Management, work planning for working at heights, eliminating slip-trip-fall hazards, ladder use, and fatigue management.

CASE STUDY

ONE-CALL PROGRAM—CALL 811 BEFORE DIGGING Construction or excavation work can inadvertently damage pipes and release emissions that are harmful to the environment and people. To mitigate this risk, Hawai‘i Gas is part of the Hawai‘i One-Call Program, which enables residential and commercial property owners to dial 811 before doing any digging and have Hawai‘i Gas check the work location for buried gas lines.

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8,778 24

One-Call requests responded to in 2024.

Requests per day on average across our service areas.

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HAWAI ‘I ' I GAS 2024 SUSTAINABILIT Y REPORT | 35

Our Customers We have nearly 70,000 customers across the islands of Hawai‘i in nearly every major industry, including residential, food and beverage, military, hospitality, health care, education, government, and agriculture.

CUSTOMER SATISFACTION

BUSINESS MODERNIZATION

Our Voice of the Customer program gives us insights on our customer service, pricing, product offerings, and technology. This invaluable feedback highlights areas of improvement, trends/suggestions, and strengths/ achievements of our team. The program is a testament to our commitment to customer satisfaction and going above and beyond in providing exceptional service.

Four years ago, Hawai‘i Gas embarked on a mission to modernize our business operations. This involved significant investment in our IT and infrastructure systems to meet new operational demands.

We use the Net Promoter Score (NPS) as a key performance indicator to assess customer satisfaction.

Our 2024 NPS was 75, which was a slight improvement from 2023 and exceeded our target of 66.

Customer Safety Tips on Our Website For our customers’ safety, we share safety tips on our website, such as videos on Emergency Preparedness and Gas Safety Tips.

In 2022, we successfully launched updated systems for customer information, billing, payment processing, and job management. Additionally, in 2024 we introduced our first self-service customer portal, a system for automating sales processes, and a cloud-based contact center platform all designed to achieve our primary goal: delivering exceptional customer service.

Hawai‘i Gas has enhanced our cybersecurity protocols, communication facilities, collaborative tools for staff, and features that enable employee autonomy. Furthermore, Hawai‘i Gas has embarked on adopting the Lean Six Sigma methodology as the company standard for optimizing core business processes to align with the enhanced technology. These advancements have strengthened our capacity to overcome upcoming challenges and consistently provide exceptional service tailored to the needs of our customers.

VOICE OF THE CUSTOMER PROGRAM “Hawai‘i Gas is very professional and on time with delivery of their product. Their staff is proficient, timely and friendly.”

Customer, Hilo

“Hawai‘i Gas is full of wonderful people!”

Customer, Hilo

“Whenever we find a company whose services we need and treat us like we mean something to them, it means a lot to us. Mahalo for the service that you provide, all the personnel that we have dealt with were more than patient, understanding and accommodating."

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Our Communities Supporting local organizations and initiatives through charitable giving enhances the resilience and well-being of communities, which has always been a priority at Hawai‘i Gas. We support our communities statewide through partnerships with local nonprofit organizations as well as working directly with local charities to sponsor events.

Hawai‘i Gas employees dedicate their time to support cultural activities that perpetuate the practices, places, and traditions of Hawai‘i.

In 2024, our employees committed 810 volunteer hours to environmental, social, and cultural initiatives through the Hawai‘i Gas Kōkua Giving Program.

HAWAI‘I GAS’ KŌKUA GIVING PROGRAM Through the Kōkua Giving program, we provide financial assistance to nonprofits and community groups engaged in activities related to education, environmental conservation, cultural preservation, and social services.

Hawai‘i Gas values community involvement and seeks to make a positive impact by investing in projects aligning with our mission and values.

EMPLOYEE MATCHING PROGRAM When a Hawai‘i Gas employee makes a personal donation to an eligible nonprofit organization, the company matches the employee’s contribution up to $500 per donation.17 By empowering and incentivizing our employees to give back to the community, we amplify our positive impact on various charitable projects and causes.

COMMUNITY ENGAGEMENT Our community engagement encourages employees to become directly involved in their communities through volunteerism at various events and activities supported by Hawai‘i Gas.

CORPORATE GIVING AND SPONSORSHIPS We donated over $300,000 in 2024. Our largest donations were to: • $50,000 to Holomua Collective, which supports

affordability and quality of life for local working families • $32,198 to Aloha United Way, which has been

working for over 100 years to advance the health, education, and financial stability of everyone in our community Additionally, Hawai‘i Gas made donations to support educational scholarships at community colleges through the University of Hawai‘i Foundation. We also supported environmental and community organizations that are aligned with our company’s mission and values, such as Kalaeloa Heritage Legacy, and a soil donation to Aina Haina Elementary School to establish a vegetable garden for outdoor learning. Our company continues to support legacy organizations such as the Special Olympics through donations and annual volunteer engagement.

Matching is 100% of employee donation up to a maximum of $500 per year per employee, minimum qualifying donation is $50 per employee.

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ENVIRONMENTAL INITIATIVES

With our commitment to sustainability, we have been supporting organizations working to protect the environment and natural habitats that make Hawai‘i so special.

HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 37

A Day on the Land—Trust for Public Lands: Our employees volunteered their time to support the Trust for Public Lands “A Day on the Land” national community impact day. Hawai‘i Gas employees spent the day at A’ala Park in downtown Honolulu learning about the park’s dynamic history and the community’s work to improve and enhance the park to create a safe and welcoming space for all. Volunteers assisted with removing trash, scrubbing graffiti, planting native trees, and touching up colorful murals.

Hāwea Heiau and Keawāwa Wetland Complex: Hawai‘i Gas volunteers and their families spent a day removing invasive species and planting native plants and trees in the Hāwea Heiau and Keawāwa Wetland Complex.

La Ohana Loko l’a: Many of our employees joined the Pacific American Foundation volunteer family workday in September at Waikalua Loko Fishpond in Kāne‘ohe, O‘ahu. Hawai‘i Gas volunteers and their families cleaned the pond of invasive species, cut mature mangroves, and performed other restorative work.

COMMUNITY INITIATIVES

Hawai‘i Gas supports organizations that give back to the communities in which we live and work.

Special Olympics: Special Olympics is an organization Hawai‘i Gas and our employees have supported wholeheartedly for decades. Over 70 of our employees volunteered in June, supporting the incredible athletes who participated at the annual Youth Athletes Summer Games event.

Susan G. Komen—MORE THAN PINK Walk: In October, Hawai‘i Gas employees participated in this important and inspiring walk to raise money for breast cancer research.

Aloha United Way: Hawai‘i Gas has been a partner of Aloha United Way since 1988. Over the course of 2024, our employees donated $32,198 to the organization in addition to hosting local fundraiser campaigns statewide.

Through our charity arm, we also donated an additional $10,000 to the United Way. Hawai‘i Bicycling League’s Youth Bike Education program: Throughout 2024, Hawai‘i Gas employees teamed up to build and donate bikes and helmets to kids in the bike education program, supporting active transportation and a sustainable future.

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Governance Strong risk management and sustainability oversight are core to our governance approach.

Governance

Governance

HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT | 39

HIGHLIGHTS Filed our first rate case adjustment application with the State of Hawai'i PUC in seven years to support energy reliability on all islands

Submitted our sixth annual GRESB assessment, achieving a score of 96/100, based on our sustainability management practices and 2024 performance

Assigned mandatory training courses on business conduct and IT security to relevant employees

GOVERNANCE SDGS

40 | HAWAI ' I GAS 2024 SUSTAINABILIT Y REPORT

Sustainability

Governance

Oversight: The Hawai‘i Gas Board of Directors consists of President and CEO Alicia Moy, three local external Directors, and two internal Directors from Argo. The President and CEO is responsible for the implementation of business strategy and sustainability under the stewardship of the Board of Directors. Material areas such as audit, risk, compensation, and sustainability are reviewed at least annually by the Board.

ACCOUNTABILITY

COMPLIANCE TRAINING

CODE OF CONDUCT

Hawai‘i Gas’ Compensation Committee Charter outlines the roles, responsibilities, and processes of the Compensation Committee of Hawai‘i Gas’ Board of Directors.

Hawai‘i Gas requires our employees to complete an annual compliance training reinforcing our company’s continuous commitment to our Kīnā‘ole values, ethics, and compliance, which allows us to maintain a healthy, safe, and productive work environment.

Our Code of Business Conduct outlines the commitment each of our officers and employees must make to act with integrity, keep promises, comply with all applicable laws, and raise concerns when things do not seem right.

The committee is made up of at least three nonemployee board members. They ensure that executive compensation is aligned with Hawai‘i Gas’ goals and values, including sustainability objectives.

The senior management of Hawai‘i Gas and its operating businesses have sustainability key performance indicators as part of their compensation plans. Examples of past KPIs include completing GRESB reporting with continuous improvement, and implementation of policies and initiatives to advance the company’s sustainability performance.

In 2024, our employees participated in training on: • Code of Business Conduct Training and Policy

Review & Attestation • Hawai‘i Gas IT Security Essentials Overview • Global Workplace Harassment Prevention

for Employees • Global Workplace Harassment Prevention

for Managers • DOT: Reasonable Suspicion (Drug and Alcohol

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All Hawai‘i Gas officers and employees are trained in our Code of Business Conduct. Their commitment is essential to Hawai‘i Gas’ reputation and long-term success as we work to earn and maintain the trust of our customers, vendors, business partners, and investors.

Governance

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OUR CODE OF CONDUCT IS BASED ON THE FOLLOWING PRINCIPLES 1. Integrity in Business We conduct business affairs with the highest standards of integrity. We tell the truth. We keep our promises to customers, vendors, business partners, investors, and each other. We act in good faith, free from conflict of interest, fulfilling the trust that others have placed in us. We avoid even the appearance of improper behavior. We are personally accountable. We do not excuse misconduct because it is directed or requested by someone else. We cooperate in investigations.

2. Respect for People & Company We respect the rights of the people we work with. We invite and encourage diverse perspectives and seek to uphold sustainable practices in our workplace and in the communities where we live and work. We protect Hawai‘i Gas’ assets and reputation.

3. Respect for the Law We comply with all laws and regulations governing our business. We raise concerns about possible violations of law or policy and never retaliate against anyone for speaking up in good faith.

The Code of Business Conduct also provides guidance on how these principles should be applied and describes specific Hawai‘i Gas policies that provide more detailed guidance.

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Governance

Risk Management Hawai‘i Gas operates critical infrastructure to deliver energy to our customers. We have developed standardized processes to manage risks related to our business and operations.

RISK MANAGEMENT

QUARTERLY RISK REVIEWS

Our company maintains a risk management framework aligned with our commitment to sustainable operations and responsible governance.

Leadership conducts risk review sessions every quarter, during which all identified risks are reassessed for their probability, impact, and evolving nature.

This framework is operationalized through a quarterly risk assessment process, ensuring ongoing identification, evaluation, and mitigation of potential risks that could impact our financial stability, operational efficiency, and environmental and social responsibilities.

This proactive approach allows us to detect emerging risks and adapt our mitigation strategies accordingly.

Significant risks—defined as those with substantial potential to affect our strategic objectives—are highlighted during these reviews for further scrutiny.

CONTINUOUS IMPROVEMENT

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REPORTING AND OVERSIGHT

Significant risks are reported to the parent company’s risk management and governance teams.

This ensures centralized oversight, consistent assessment, and alignment with the broader corporate risk appetite and policies.

Transparent communication fosters accountability and facilitates the integration of risk management into overall corporate decision-making.

Our risk management process is iterative and continuously refined, incorporating lessons learned, industry best practices, and stakeholder feedback.

MITIGATION AND ACTION PLANS

For each significant risk identified, action plans are developed with clear responsibilities, timelines, and measurable objectives.

These plans encompass risk avoidance, mitigation, transfer, or acceptance strategies tailored to the specific risk. Follow-up on these action plans occurs during subsequent quarterly reviews to ensure effectiveness and timely adjustments.

By systematically managing risks, we aim to safeguard our assets, enhance operational resilience, and promote sustainable growth aligned with our long-term strategic vision.

Governance

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CLIMATE RISK ANALYSIS Understanding climate-related risk enables Hawai‘i Gas to build a more resilient and sustainable business to navigate the challenges of climate change.

In 2023, we conducted climate risk assessments at five key sites. The analysis used Representative Concentration Pathway 8.5, published by the Intergovernmental Panel for Climate Change (IPCC), to predict future risks from physical hazards based on a business-as-usual emissions trajectory. Early risks include soil movement (subsidence) followed by rising wind and tropical cyclone risks. In the long-term, sea level rise and extreme heat risks will take priority.

Hawai‘i Gas maintains an emergency management strategy to mitigate the potential risks to employees, equipment, and infrastructure during natural disasters.

Company-wide and facility-specific Emergency Action Plans are in place to inform and guide employees and the public during a natural disaster event. In addition, Hawai‘i Gas coordinates annually with the State and County Emergency Management Agencies to plan and prepare for potential natural disasters.

The analyses conducted in 2023 will inform our future risk mitigation measures (emergency management) and capital planning (facility hardening) to retain the integrity of Hawai‘i Gas’ facilities and assets.

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Distribution Integrity Management Hawai‘i Gas’ Distribution Integrity Management Program (DIMP) is a systematic and analytical program in accordance with Pipeline and Hazardous Materials Safety Administration (PHMSA) guidelines that ranks each segment of pipeline based on operating conditions, environment, and other relevant variables to identify the areas of pipeline that should be prioritized for replacement or renewal.

Pipeline operating conditions that are considered include, among other things, pipeline size, material, age, pressure, and leak history. Environmental considerations include location of the pipeline, construction activity, above-ground exposures, and weather forces. By using risk scores, Hawai‘i Gas renews or replaces pipeline segments in a manner that reduces the most risk. This demonstrates our diligence in preventing harm to the lands on which we operate.

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Governance

Governance

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Cybersecurity Data privacy and cybersecurity are critical to the functioning of our business. Our approach is informed by reports from leading cybersecurity firms, government agencies, industry forums, and news updates.

Our ongoing enterprise risk management includes assessing and mitigating threats proactively. We protect sensitive company data and information through deploying malware security software, consistent data backups, and vigilant email threat management. We have developed an incident response plan and ensure employees are well informed on cybersecurity best practices through periodic training.

We have initiatives in the following cybersecurity practices: • Setting company-wide cybersecurity goals • Cybersecurity awareness campaigns • Regularly completing and tracking phishing exercises

for all employees • Using multi-factor authentication organization-wide • Ensuring adequate cybersecurity insurance • Developing role-based access controls for

Tier 1 systems

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Indexes Appendix I: GRI Content Index Appendix II: TCFD Index

Indexes

Indexes

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Global Reporting Initiative (GRI) Content Index

Indexes

GRI Standard Number 2

GRI Material Standard / Topic Standard for Material Topics: GRI 11 – Oil & Gas

Category

GRI 2: General Disclosures 2021

The organization and its reporting practice

Disclosure Number Disclosure

Section

2-1-a

Legal name

About this Report

2-1-b

Nature of ownership and legal form

Our Business

2-1-c

Headquarters location

Our Business

2-1-d

Countries of operation

Our Business

2-2-a

List all its entities included in its sustainability reporting

About this Report

2-3-a

Specify the reporting period for and the frequency of its sustainability reporting

About this Report

2-6-a

Activities, value chain and other business relationships

Our Products, Partnering for the Future

2-7-a

Employees

Our Employees

2-9-a

Governance structure and composition

Sustainability

2-15-a

Conflicts of interest

Sustainability

2-19-b

Remuneration policies

Sustainability

2-29

Approach to stakeholder engagement

Materiality Assessment

2-30-a

Collective bargaining agreements Company Key Facts, Investing in Our People

302-1-e

Energy consumption within the organization

302-4-a

Reduction of energy consumption Energy

303-5-a

Water Consumption

APPENDIX I: STANDARDS REFERENCES (GRI) Activities and workers

Governance

Stakeholder Engagement

302

303

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GRI 302: Energy 2016

GRI 303: Water and Effluents

Energy

Water

Energy

Water

Indexes

Global Reporting Initiative (GRI) Content Index (Cont.)

APPENDIX I: STANDARDS REFERENCES (GRI)

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GRI Standard Number 305

403

GRI Material Standard / Topic Standard for Material Topics: GRI 11 – Oil & Gas GRI 305: Emissions 2016

Category Emissions

GRI 403: Occupational Occupational Health Health and Safety 2018 and Safety

Disclosure Number Disclosure

Section

305-1-a 305-1-b

Direct (Scope 1) GHG Emissions Greenhouse Gas Emissions

Greenhouse Gas Emissions

305-2-a 305-2-b 3-5-2-c

Energy indirect (Scope 2) GHG emissions

Greenhouse Gas Emissions

305-7

Nitrogen oxides, sulfur oxides and Greenhouse Gas Emissions other significant air emissions

403-1

Occupational health and safety management system

Health + Safety

403-5

Worker training on occupational health and safety

Health + Safety

405

GRI 405: Diversity and Equal Opportunity 2016

Diversity and Equal Opportunity

405-1

Diversity of governance bodies and employees

2024 Employee Demographics

413

GRI 413: Local Communities 2016

Local Communities

413-1

Operations with local community engagement, impact assessments and development programs

Our Sustainability Approach, Our Local Engagements, Our Communities

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Task Force on Climaterelated Financial Disclosures (TCFD) Index

Indexes

Disclosure

Section

Governance a) Describe the board’s oversight of climate-related risks and opportunities

Sustainability

b) Describe management’s role in assessing and managing climate-related risks and opportunities

Risk Management

Strategy a) D escribe the climate-related risks and opportunities the organization has identified over the short, medium and long-term

Materiality Assessment, Climate Risk Analysis

b) Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy and financial planning

Not disclosed

c) Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, include a 2°C or lower scenario

Not disclosed

Risk Management

APPENDIX II: STANDARDS REFERENCES (TCFD)

a) Describe the organization’s processes for identifying and assessing climate-related risks

Materiality Assessment, Climate Risk Analysis

b) Describe the organization’s processes for managing climate-related risks

Climate Risk Analysis

c) Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the Risk Management organization’s overall risk management Metrics and Targets

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a) D isclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process

Not disclosed

b) Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 GHG emissions, and the related risks

Greenhouse Gas Emissions, Climate Risk Analysis

c) Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets

Not disclosed

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745 Fort Street, 18th Floor, TOPA Financial Center, Honolulu, HI 96813