I'm trying to understand how/why this works...

=OFFSET(A12,MATCH(MAX(E12:E300),E12:E300,0)-1,)

So the reference cell is a12 - got that
Understand the MATCH/MAX functions.
I'm confused about the -1 aspect of the OFFSET function.
If I understand this it's referencing one row below the reference A12...
however it's referencing the same row.... the formula works, though I'm
confused as to why...