Matson signs ~$1B agreement for three new Aloha Class vessels; provides business update at investor conference

Matson, Inc.

Signed agreements with Philly Shipyard for three LNG-ready Aloha Class vessels at ~$1B total contract cost.
New vessels for CLX service; will move existing CLX ships to Alaska; deliveries in 4Q26, 2Q27, 4Q27.
LNG installation projects on Daniel K. Inouye ($35M) and Manukai ($60M) remain on track.
AAX service (Alaska-to-Asia Express) to be marketed for upcoming fishing season.
Total debt-to-EBITDA and net debt-to-EBITDA ratios shown; LTM 3Q22 EBITDA $1.91B.

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