Matson Results Presentation Deck

4 Views on Current Market Environment Domestic tradelanes • Local economies continue to recover from pandemic lows Hawaii: tourism outlook remains strong and expect increasing international tourism arrivals as COVID-19 wave in Asia recedes - • But there are negative trends that create uncertainty in the economic recovery trajectory in each of the core markets ● Alaska: resumption of summer tourism and increased energy-related exploration and production activity as a result of elevated oil prices Guam: Expect continued improvement in tourism traffic as the year progresses - Weakening economic conditions in the U.S. and global economies could negatively affect consumer spending and tourism Household discretionary income likely negatively affected by high inflation, higher interest rates and lower personal income with end of pandemic-era stimulus Seeing some contraction in demand for retail-related goods Logistics Continue to see a solid level of activity across all business lines • Rail congestion remains; customers shifting modes from rail to truck Warehouse unit remains busy with inbound and transload volume exceeding outbound volume Second Quarter 2022 Earnings Conference Call Matson.

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