CORRECTING AND REPLACING HASI Prices Offering of $1 Billion of Green Senior Unsecured Notes

ANNAPOLIS, Md.--(BUSINESS WIRE)-- First paragraph, first sentence of release should read: HA Sustainable Infrastructure Capital, Inc. (“HASI,” “our,” “we,” or the “Company”) (NYSE: HASI), a leading investor in sustainable infrastructure assets, announced that yesterday, on June 12, 2025, it priced its registered public offering of ... $400.0 million in aggregate principal amount of 6.75% green senior unsecured notes due 2035. (instead of ... $400.0 million in aggregate principal amount of 6.75% green senior unsecured notes due 2034).

The updated release reads:

HASI PRICES OFFERING OF $1 BILLION OF GREEN SENIOR UNSECURED NOTES

HA Sustainable Infrastructure Capital, Inc. (“HASI,” “our,” “we,” or the “Company”) (NYSE: HASI), a leading investor in sustainable infrastructure assets, announced that yesterday, on June 12, 2025, it priced its registered public offering of $600.0 million in aggregate principal amount of 6.15% green senior unsecured notes due 2031 and $400.0 million in aggregate principal amount of 6.75% green senior unsecured notes due 2035. At issuance, the Notes will be guaranteed by Hannon Armstrong Sustainable Infrastructure, L.P., Hannon Armstrong Capital, LLC, HAT Holdings I LLC (“HAT I”), HAT Holdings II LLC (“HAT II” and together with HAT I, the “Offerors”), HAC Holdings I LLC and HAC Holdings II LLC. The settlement of the Notes is expected to occur on June 24, 2025, subject to customary closing conditions.

The Company estimates that the net proceeds from the offering of the Notes will be approximately $987.3 million, after deducting the underwriting discounts and estimated offering expenses. The Company intends to utilize the net proceeds from the offering of the Notes (i) to fund previously announced cash tender offers for a portion of the Offerors’ 3.375% Senior Notes due 2026 and a portion of the Offerors’ 8.00% Green Senior Unsecured Notes due 2027 that are accepted subject to the terms and conditions of such tender offers, and the payment of related accrued and unpaid interest, premiums, fees and expenses related thereto, (ii) to temporarily repay a portion of the outstanding borrowings under our unsecured revolving credit facility, or (iii) to temporarily repay a portion of the outstanding borrowings under our commercial paper program. We will use cash equal to the net proceeds from this offering to acquire, invest in or refinance, in whole or in part, new and/or existing eligible green projects. These eligible green projects may include projects with disbursements made during the twelve months preceding the issue date of this offering and projects with disbursements to be made within two years following the issue date. Prior to the full investment of an amount equal to such net proceeds in such eligible green projects, we intend to apply the net proceeds as set forth above and to invest any remaining net proceeds in interest-bearing accounts and short-term, interest-bearing securities.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Truist Securities, Inc., BofA Securities, Inc., BMO Capital Markets Corp., Credit Agricole Securities (USA) Inc., Mizuho Securities USA LLC, and Rabo Securities USA, Inc. are acting as Joint Book-Running Managers for the offering. KeyBanc Capital Markets Inc., M&T Securities, Inc., and SMBC Nikko Securities America, Inc. are acting as Co-Managers for the offering.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus and related prospectus supplement, which may be obtained by visiting the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, you may request these documents by calling Citigroup Global Markets Inc. toll-free at +1 (800) 831-9146, J.P. Morgan Securities LLC collect at +1 (212) 834-4533, RBC Capital Markets, LLC toll-free at +1 (866) 375-6829 or Truist Securities, Inc. toll-free at +1 (800) 685-4786.

About HASI

HASI is an investor in sustainable infrastructure assets advancing the energy transition. With more than $14 billion in managed assets, HASI’s investments are diversified across multiple asset classes, including utility-scale solar, onshore wind, and storage; distributed solar and storage; RNG; and energy efficiency. HASI combines deep expertise in energy markets and financial structuring with long-standing programmatic client partnerships to deliver superior risk-adjusted returns and measurable environmental benefits.

Forward-Looking Statements

Some of the information in this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, words such as “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may,” “target,” or similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption “Risk Factors” included in the Company’s Annual Report on Form 10-K (as supplemented by our Form 10-K/A) for the Company’s fiscal year ended December 31, 2024, which were filed with the U.S. Securities and Exchange Commission (“SEC”), as well as in other reports that the Company files with the SEC.

Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. The Company disclaims any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.

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Investors:

Aaron Chew

investors@hasi.com

240-343-7526



Media:

Gil Jenkins

media@hasi.com

443-321-5753

Source: HA Sustainable Infrastructure Capital, Inc.