AGM 2021

Apr 22, 2021

Welcome to the 2021 annual meeting for Matson, Inc. Our host for today's call is Mr. Matt Cox. At this time, all participants will be in listen-only mode. I will now turn the call over to your host. Mr. Cox, you may begin. Aloha. I'm Matt Cox, Chairman and CEO of Matson, and I now call this meeting to order. I'd like to welcome our shareholders to the 2021 annual meeting, which is being held virtually today in light of the continued impacts and risks related to COVID-19 and limitations on large gatherings in Honolulu, Hawaii. A meeting agenda and rules of conduct have been established and are available to shareholders on the bottom right side of your screen. There are four business items to be voted on at today's meeting: the election of directors, an advisory vote to approve executive compensation, approval of the Amended and Restated Matson, Inc. 2016 Incentive Compensation Plan, and the ratification of the appointment of auditors. There will be a question and comment period on these items, and after the question and comment period, the polls will be open for voting. As stated in the rules of conduct, you may submit your question by clicking the Q&A button located on the bottom right side of the screen. In order to give as many shareholders as possible the opportunity to ask questions, we ask that you please limit yourself to one question per topic. Up to one minute will be allocated to read each question. As a reminder, we will only take questions related to the four items being voted on today. Thanks for your cooperation with these rules. Written notice of this meeting was mailed on or about March 9, 2021, to all shareholders of record as of the close of business on February 26, 2021, the record date, and the Secretary has an affidavit certifying to such mailing. As of the record date, there were 43,435,750 shares of common stock entitled to vote. These are represented in person or by proxy, approximately 92% of all shares entitled to vote at this meeting. Because holders of a majority of these shares entitled to vote at this meeting are present in person or by proxy, I declare this meeting to be duly convened for purposes of transacting such business as may properly come before it. The first proposal, number one, election of directors. The first proposal before the shareholders of the company is the election of seven directors to serve until the annual meeting of shareholders in 2022, and until their successors are duly elected and qualified. Let me introduce my fellow nominees who are in attendance here today. Stan Kuriyama, our Lead Independent Director, Meredith Ching, Admiral Tom Fargo, Mark Fukunaga, Connie Lau, and Jenai Wahl. On behalf of everyone at Matson, I'd like to thank each of our directors for all their hard work and valuable guidance that they give us. Voting will commence after all proposals have been presented. We now move to proposal 2. The second proposal before the shareholders of the company is the approval on a non-binding advisory basis of the compensation of the company's executives. A summary of the company's executive compensation practices is contained in the 2021 proxy statement. The third proposal before the shareholders of the company is the approval of the Amended and Restated Matson, Inc. 2016 Incentive Compensation Plan. A summary of this plan is contained in the 2021 proxy statement. The fourth proposal before the shareholders of the company is the ratification of the appointment of auditors. The audit committee has appointed Deloitte & Touche as the company's independent registered accounting firm for the ensuing year. Joe Young, the representative of Deloitte & Touche, is present at the meeting. Mr. Young has advised me that he has no formal statement to make. The meeting is now open for questions and comments concerning the four agenda items. To submit your question, you should click on the Q&A button located on the right side of your screen. Enter your question in the field labeled Submit a Question, and then click Submit. Again, if you have a question, please click the Q&A button located on the right side of your screen. Because no further business is on the agenda to come before this meeting, we'll now move on to voting. The time is 8:36 A.M. Hawaii Standard Time, and I declare the polls now open for each matter to be voted on today, April 22nd, 2021. All Matson shareholders entitled to vote at this meeting have the ability to do so online. If you are a shareholder entitled to vote and you have not yet voted, or if you want to change your previously cast vote, please do so by clicking the Voting button on the bottom right side of your screen. If you previously returned your proxy card, your shares will be voted accordingly. If you previously voted by proxy, please do not vote again today unless you want to change your vote. After voting has been completed on all matters in the agenda, we will close the polls and provide a preliminary report. Please vote now if you wish to do so. Again, if you'd like to vote, please click on the Voting button on the bottom right side of your screen. Please remember that if you've already voted by proxy or by returning your proxy card, it's not necessary to vote again. We will be closing the polls shortly. I declare the polls now closed at 8:38 A.M. Hawaii Standard Time, today, April 22nd, 2021, and ask that the Inspector of Elections tabulate the results. With the business portion of this meeting having been completed and the polls now closed, the formal portion of this meeting is officially adjourned at 8:38 A.M. Hawaii Standard Time, April 22nd, 2021. I've received the preliminary voting report, and the results are as follows: more than 92% of shares outstanding voted, and all the proposals have passed. Let me congratulate all of our director nominees on their election. This concludes our program for the day. Mahalo for your kind attention. This now concludes the meeting. Thank you for joining, and have a pleasant day.