Finding exact matches from a 2D array
Consider using a Collection when matching values in multiple list.  Scripting Dictionaries are well suited for this task.  You'll need to create a Key by concatenate the multiple values with a delimiter.  You will then store the Key with its associated Cell reference  in the Dictionary.

This solution can be further optimized using array but should process 2 list with 10k entries each in seconds (less than a second if optimised using Arrays).

Sub CompareLists()
    Dim cell As Object, dic As Object, key As String
    Set dic = CreateObject("Scripting.Dictionary")

    With ActiveWorkbook.Worksheets("Approved Master")
        For Each cell In .Range("E1" &amp; .Range("E" &amp; .Rows.count).End(xlUp))
            key = cell.Value &amp; "|" &amp; cell.Offset(0, 1).Value
            If Not dic.Exists(key) Then dic.Add key, cell
        Next
    End With

    With ActiveWorkbook.Worksheets("Manifest")
        For Each cell In .Range("B2" &amp; .Range("A" &amp; .Rows.count).End(xlUp))
            key = cell.Value &amp; "|" &amp; cell.Offset(0, 1).Value
            If dic.Exists(key) Then dic.Add key, cell.Offset(0, 2).Value = dic(key).Offset(0, -2).Value
        Next
    End With

End Sub


Here is a good reference to learn how to use Scripting Dictionaries: Excel VBA Introduction Part 39 - Dictionaries.