Matson Investor Presentation Deck

5 Investment Highlights Unique Network Connecting the Pacific World-Class Operator and Premium Service Provider Increasingly Diversified Cash Flows Organic Growth Opportunities Stable, Growing and Defensible Cash Flow Generation Commitment to Returning Cash to Shareholders Strong Balance Sheet ● ● ● ● ● ● ● Providing critical supply lifelines to economies throughout the Pacific Strong market positions in attractive niche markets with multi-decade customer relationships Dual head-haul economics on China-to-Long Beach Express (CLX) service Logistics' business lines complement ocean services and drive high ROIC opportunities Fastest transit and cargo availability creates competitive advantage and premium rates for China service CLX and CLX+ are the fastest and second fastest ocean services in the Transpacific tradelane Fastest transit time to Guam from U.S. West Coast with superior on-time performance Well-maintained fleet with industry-leading on-time performance Dedicated terminals with best-in-class truck turns and unmatched cargo availability Hawaii Neighbor Island barge fleet and Micronesia feeder vessels create hub-and-spoke efficiency Increasingly diversified cash flows from: - - Distinct ocean tradelane service routes A niche provider of logistics services complementing the tradelane services An equity investment in SSAT, a leading U.S. West Coast terminal operator Significant organic growth in the last 2 years through addition of CLX+ and AAX services Announced $1 billion new vessel program on November 2, 2022 - new Aloha Class vessels in CLX to provide meaningful lift to net income, operating income and EBITDA Pursue opportunities that leverage the combined services of Ocean Transportation and Logistics Financial strength to invest to grow the core businesses, pursue strategic opportunities and return capital to shareholders Since 2015, approximately $700 million in investments for Alaska entry Repurchased -7.5 million shares from August 3, 2021 through December 31, 2022 for a total cost of ~$597 million Compelling dividend yield with dividend growth history Investment grade credit metrics Balance sheet strength leads to low cost of capital Investor Presentation | February 2023 Matson.

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