X0306 4 2013-04-23 0000003453 Matson, Inc. MATX 0001206921 DODS WALTER A JR 999 BISHOP STREET 28TH FLOOR HONOLULU HI 96813 1 Common Stock 2013-04-23 4 M 0 5849.0000 13.6100 A 88720.3861 D Common Stock 2000.0000 I By DH Realty Partners, LLC Stock option 13.6100 2013-04-23 4 M 0 5849.0000 0.0000 D 2004-04-24 2013-04-23 Common Stock 5849.0000 0.0000 D The reported number of shares of the Issuer's common stock and the exercise price payable per share were appropriately adjusted, in accordance with the anti-dilution provisions applicable to the option grant, to reflect the distribution by Issuer of the outstanding shares of Alexander & Baldwin, Inc. (a newly-formed subsidiary formerly known as A&B II, Inc.) to the Issuer's stockholders in a pro-rata spin-off transaction at the close of business on June 29, 2012. Those adjustments preserved the intrinsic value that exists with respect to the option grant immediately prior to such distribution. The reported number of shares (i) includes shares acquired under a Dividend Reinvestment Program pursuant to Rule 16a-11, and (ii) reflects the adjustment (in the form of a share increase) to the number of shares of the Issuer's common stock subject to the outstanding restricted stock unit awards held by the Reporting Person that was made, in accordance with the anti-dilution provisions applicable to those restricted stock units, to reflect the distribution by Issuer of the outstanding shares of Alexander & Baldwin, Inc. (a newly-formed subsidiary formerly known as A&B II, Inc.) to the Issuer's stockholders in a pro-rata spin-off transaction at the close of business on June 29, 2012. The anti-dilution increase to the number of shares of Issuer's common stock underlying each such restricted stock unit award was structured so as to preserve the intrinsic value that existed with respect to each such award immediately prior to such distribution. /s/ Walter A. Dods, Jr. 2013-04-25