2021 Plan of Finance Amortization
STATE
OF
TATE O
1959
HAWAI
Disclaimer
The Investor Presentation you are about to view is provided as of September 21, 2021 for a proposed offering of the State of
Hawaii's ("the State") General Obligation Bonds of 2021, Series GD, Series GE, Series GF, Series GG, Series GH, Series Gl and
Series GJ. If you are viewing this presentation after that date, events may have occurred that have a material adverse effect on the
financial information presented. Neither the Underwriters mentioned in this presentation (the "Underwriters"), nor the State have
undertaken any obligation to update this presentation. The information presented is not warranted as to completeness or accuracy
and is subject to change without notice. You agree not to duplicate, copy, download, screen capture, electronically store, or record
this presentation, nor to produce, publish or distribute this presentation in any form whatsoever.
This Investor Presentation is provided for your information and convenience only. Any investment decisions regarding the State's
Series 2021 Bonds should be made only after a careful review of the complete Preliminary Official Statement.
This Investor Presentation does not constitute a recommendation or an offer or solicitation for the purchase or sale of any security or
other financial instrument or to adopt any investment strategy. Any offer or solicitation with respect to the State's Series 2021 Bonds
will be made by means of a Preliminary Official Statement or Official Statement that will describe the actual terms of the State's
Series 2021 Bonds. In no event shall the State or the Underwriters be liable for any use by any party of, any decision made or action
taken by any party in reliance on, any inaccuracies or errors in, or any omissions from, the information contained herein and such
information may not be relied upon by you in evaluating the merits of participating in any transaction mentioned herein. These
materials have not been prepared with a view toward public disclosure under applicable securities laws or otherwise, and may not be
reproduced, disseminated, quoted or referred to, in whole or in part. These materials may not reflect information known to other
professionals in other business areas of the Underwriters and their affiliates.
The Underwriters makes no representations as to the legal, tax, or accounting treatment of any transactions mentioned herein, or any
other effects such transactions may have on you and your affiliates or any other parties to such transactions and their respective
affiliates. You should consult with your own advisors as to such matters. Nothing in these materials constitutes a commitment by the
Underwriters or any of their affiliates to enter into any transaction. Past performance is not indicative of future returns, which will vary.
Transactions involving the State's Series 2021 Bonds may not be suitable for all investors. You should consult with your own advisors
as to the suitability of such securities or other financial instruments for your particular circumstances. Additional information is
available upon request. Clients should contact their salesperson at, and execute transactions through, the Underwriters or their
affiliated entities qualified in their home jurisdiction unless governing law permits otherwise.
Neither the State, Underwriters or their affiliates provide tax advice. Any statements contained herein as to tax matters were neither
written nor intended to be used and cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed
on such taxpayer.View entire presentation