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2 \ U S M X 2 0 2 1 A N N U A L R E P O R T David F. Adam Chairman of the Board and Chief Executive Officer C H A I R M A N & C E O ' S M E S S A G E T H E M I D D L E Y E A R It is reasonable to view 2021 as the "Middle Year" of the COVID-19 pandemic. At the start of 2020, through the collective hard work of all the industry stakeholders, we learned to live and work through the pandemic, even as we saw significant cargo shortfall due to world-wide lockdowns resulting from various COVID influences. We knew, immediately, that we had to focus on keeping our workforce and management teams safe and healthy, both physically and financially. The safety protocols jointly established by management and labor in 2020 continued to serve us well throughout the rest of the pandemic. The ILA-USMX partnership was also well-served by the jointly-administered COVID Pandemic Relief (CPR) Fund. The CPR Fund was a hugely significant undertaking by the parties, but it was critical during the crisis to ensuring that our workforce could be confident that we were as focused on their financial well-being as we were on their on-the-job health and safety. 2021 was a markedly different year. The structure of the U.S. economy changed significantly due to the nature of the pandemic response. Services suffered because of lockdowns while consumption flourished. We saw the highest cargo volumes ever recorded by USMX to that point, while continuing to be challenged by the pandemic. The fact that the maritime industry had such an outstanding year in 2021 is a tribute to the extraordinary efforts of all our USMX members, our partners in the ILA, and our various Port Authority colleagues.

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