Except where otherwise noted, all currency amounts are stated in United States dollars.

Financial and Production Highlights

Delivered first full quarter of safe, reliable operations at newly acquired Beaumont and Natgasoline plants, producing 239,000 tonnes and 222,000 tonnes (Methanex share) of methanol respectively. Beaumont also produced 88,000 tonnes of ammonia in the third quarter.
Adjusted EBITDA of $191 million, Adjusted net income of $5 million, and net loss attributable to Methanex shareholders of $7 million in the third quarter. Our average realized price in the third quarter was $345 per tonne compared to $374 per tonne in the second quarter of 2025.
Production in the third quarter was 2,212,000 tonnes compared to 1,621,000 tonnes in the second quarter of 2025 due to the addition of production from Beaumont and Natgasoline combined with higher production from Geismar, Medicine Hat, and New Zealand. Higher production from the third quarter is expected to result in higher sales of produced product in the fourth quarter of 2025.
Chile I operated at full rates throughout the Southern Hemisphere winter months marking the first time the plant has done so in over ten years. Chile IV successfully completed a planned turnaround and returned to operations at the start of October with increased gas availability from Argentina.
Generated $184 million in cash from operations and repaid $125 million of our Term Loan A in line with our goal to de-lever the balance sheet.
In the third quarter, $14.3 million was returned to shareholders through regular dividends. We ended the third quarter with $413 million in cash.

VANCOUVER, British Columbia, Oct. 29, 2025 (GLOBE NEWSWIRE) -- For the third quarter of 2025, Methanex (TSX:MX) (NASDAQ:MEOH) reported net loss attributable to Methanex shareholders of $7 million ($0.09 net loss per common share on a diluted basis) compared to net income of $64 million ($0.93 net income per common share on a diluted basis) in the second quarter of 2025. Adjusted EBITDA for the third quarter of 2025 was $191 million and Adjusted net income was $5 million ($0.06 Adjusted net income per common share). This compares with Adjusted EBITDA of $183 million and Adjusted net income of $66 million ($0.97 Adjusted net income per common share) for the second quarter of 2025.

Rich Sumner, President & CEO of Methanex, said, "This quarter marked a significant milestone as we successfully completed the first full quarter of operations at our newly acquired Beaumont plant and joint venture Natgasoline. Both facilities have been operating safely and reliably since the acquisition and the integration of the new operations into our business is progressing well and according to plan. We are focused on the reliable and cost efficient operation of our assets and supply chain to navigate the current macro uncertainty and create long-term value for shareholders."

FURTHER INFORMATION

The information set forth in this news release summarizes Methanex's key financial and operational data for the third quarter of 2025. It is not a complete source of information for readers and is not in any way a substitute for reading the third quarter 2025 Management's Discussion and Analysis ("MD&A") dated October 29, 2025 and the unaudited condensed consolidated interim financial statements for the period ended September 30, 2025, both of which are available from the Investor Relations section of our website at www.methanex.com. The MD&A and the unaudited condensed consolidated interim financial statements for the period ended September 30, 2025 are also available on the Canadian Securities Administrators' SEDAR+ website at www.sedarplus.ca and on the United States Securities and Exchange Commission's EDGAR website at www.sec.gov.

FINANCIAL AND OPERATIONAL DATA

	Three Months Ended				Nine Months Ended
($ millions except per share amounts and where noted)	Sep 30 2025		Jun 30 2025	Sep 30 2024	Sep 30 2025	Sep 30 2024
Production (thousands of tonnes) (attributable to Methanex shareholders)¹	2,212		1,621	1,347	5,452	4,490
Sales volume (thousands of tonnes)
Methanex-produced methanol	1,891		1,528	1,378	5,122	4,639
Purchased methanol	488		451	987	1,321	2,560
Commission sales	97		154	258	383	706
Total methanol sales volume	2,476		2,133	2,623	6,826	7,905

Methanex average non-discounted posted price ($ per tonne)²	578		605	519	606	496
Average realized price ($ per tonne)³	345		374	356	373	350

Revenue	927		797	935	2,620	2,771
Net income (loss) (attributable to Methanex shareholders)	(7	)	64	31	169	119
Adjusted net income⁴	5		66	82	159	168
Adjusted EBITDA⁴	191		183	216	622	540
Cash flows from operating activities	184		277	210	776	456

Basic net income (loss) per common share	(0.09	)	0.95	0.46	2.38	1.77
Diluted net income (loss) per common share	(0.09	)	0.93	0.35	2.21	1.62
Adjusted net income per common share⁴	0.06		0.97	1.21	2.23	2.48

Common share information (millions of shares)
Weighted average number of common shares	77		68	67	71	67
Diluted weighted average number of common shares	77		68	68	71	68
Number of common shares outstanding, end of period	77		77	67	77	67

¹Methanex-produced methanol represents our equity share of methanol volume produced at our facilities and excludes volume marketed on a commission basis related to the 36.9% of the Atlas facility and 50% of the Egypt facility that we do not own.
²Methanex average non-discounted posted price represents the average of our non-discounted posted prices in North America, Europe, China and Asia Pacific weighted by total methanol sales volume. Current and historical pricing information is available at www.methanex.com.
³The Company has used Average realized price ("ARP") throughout this document. ARP is calculated as methanol revenue divided by the total methanol sales volume. It is used by management to assess the realized price per unit of methanol sold, and is relevant in a cyclical commodity environment where revenue can fluctuate in response to market prices.
⁴Note that Adjusted net income, Adjusted net income per common share, and Adjusted EBITDA are non-GAAP measures and ratios that do not have any standardized meaning prescribed by GAAP and therefore are unlikely to be comparable to similar measures presented by other companies. Refer to the Additional Information -Non-GAAP Measures section on page 16 of our third quarter MD&A dated October 29, 2025 for a description of each non-GAAP measure.

A reconciliation from net income attributable to Methanex shareholders to Adjusted EBITDA, Adjusted net income and the calculation of Adjusted net income per common share is as follows:

	Three Months Ended									Nine Months Ended
($ millions)	Sep 30 2025			Jun 30 2025			Sep 30 2024			Sep 30 2025			Sep 30 2024
Net income (loss) attributable to Methanex shareholders	$	(7	)	$	64		$	31		$	169		$	119
Mark-to-market impact of share-based compensation		13			(7	)		(18	)		(26	)		(20	)
Depreciation and amortization		111			102			99			319			295
Finance costs		61			51			28			163			83
Finance income and other expenses		(3	)		(8	)		(42	)		(16	)		(49	)
Income tax expense		4			3			11			43			21
Asset impairment charge		—			—			125			—			125
Earnings of associates adjustment		34			3			14			41			41
Non-controlling interests adjustment		(22	)		(25	)		(32	)		(71	)		(75	)
Adjusted EBITDA	$	191		$	183		$	216		$	622		$	540

	Three Months Ended									Nine Months Ended
($ millions except number of shares and per share amounts)	Sep 30 2025			Jun 30 2025			Sep 30 2024			Sep 30 2025			Sep 30 2024
Net income (loss) attributable to Methanex shareholders	$	(7	)	$	64		$	31		$	169		$	119
Mark-to-market impact of share-based compensation, net of tax		11			(4	)		(15	)		(19	)		(17	)
Mark-to-market impact of gas contract revaluations, net of tax		1			6			(24	)		9			(24	)
Asset impairment charge, net of tax		—			—			90			—			90
Adjusted net income	$	5		$	66		$	82		$	159		$	168
Diluted weighted average shares outstanding (millions)		77			68			68			71			68
Adjusted net income per common share	$	0.06		$	0.97		$	1.21		$	2.23		$	2.48

We recorded net loss attributable to Methanex shareholders of $7 million in the third quarter of 2025 compared to net income of $64 million in the second quarter of 2025. Net income in the third quarter of 2025 was lower compared to the prior quarter primarily due to a lower average realized price, the mark-to-market impact of share based compensation, lower New Zealand gas sale net proceeds, higher depreciation and higher finance costs, partially offset by higher sales of produced product.
We sold 2,476,000 tonnes of methanol in the third quarter of 2025 compared to 2,133,000 tonnes of methanol in the second quarter of 2025. Sales of Methanex-produced methanol were 1,891,000 tonnes in the third quarter of 2025 compared to 1,528,000 tonnes in the second quarter of 2025.
Production of methanol for the third quarter of 2025 was 2,212,000 tonnes compared to 1,621,000 tonnes for the second quarter of 2025. Production was higher in the third quarter of 2025 compared to the second quarter of 2025 due to new production contribution from Beaumont and Natgasoline, following the close of our acquisition of OCI Global's international methanol business ("OCI Acquisition"). This was combined with higher production from Geismar, Medicine Hat, and New Zealand. Higher production from the third quarter is expected to result in higher sales of produced product in the fourth quarter of 2025.
In the third quarter of 2025 we paid a quarterly dividend of $0.185 per common share for a total of $14.3 million and repaid $125 million of the outstanding Term Loan A.
At September 30, 2025, we had a strong liquidity position including a cash balance of $413 million. We also have access to a $600 million revolving credit facility.

PRODUCTION HIGHLIGHTS

	Q3 2025		Q2 2025	Q3 2024	YTD Q3 2025	YTD Q3 2024
(thousands of tonnes)	Operating Capacity¹	Production	Production	Production	Production	Production
USA
Geismar	1,000	931	829	605	2,377	1,690
Beaumont²	228	239	11	—	250	—
Natgasoline (50% interest)²	213	222	10	—	232	—
Chile	425	224	295	173	948	793
Trinidad³	215	203	216	262	556	751
New Zealand⁴	215	123	53	72	336	527
Egypt (50% interest)	158	130	124	93	390	305
Canada (Medicine Hat)	140	140	83	142	363	424
Total Methanol Production	2,594	2,212	1,621	1,347	5,452	4,490
Beaumont Ammonia⁵	85	88	4	—	92	—
Total Production	2,679	2,300	1,625	1,347	5,544	4,490

¹ The operating capacity of our production facilities may be higher or lower than original nameplate capacity as, over time, these figures have been adjusted to reflect ongoing operating efficiencies at these facilities. Actual production for a facility in any given year may be higher or lower than operating capacity due to a number of factors, including natural gas availability, feedstock composition, the age of the facility's catalyst, turnarounds and access to CO₂from external suppliers for certain facilities. We review and update the operating capacity of our production facilities on a regular basis based on historical performance.
² The annual operating capacity of the Beaumont and Natgasoline facilities are 910,000 tonnes and 850,000 tonnes (50% interest), respectively. The actual production for Q2 2025 reflects 4 days of ownership.

³ The operating capacity of Trinidad consists of the Titan facility (100% interest). The Atlas facility (63.1% interest) is excluded as it is currently idle. Refer to the Trinidad section below.
⁴ The operating capacity of New Zealand consists of one Motunui facility, with the other excluded as it is currently idle. Refer to the New Zealand section below.
⁵ The annual operating capacity of Beaumont ammonia facility is 340,000 tonnes. The actual production for Q2 2025 reflects 4 days of ownership.

Key production and operational highlights during the third quarter include:

United States

Geismar produced 931,000 tonnes in the third quarter of 2025 compared to 829,000 tonnes in the second quarter of 2025. Production was higher in the third quarter as all Geismar plants were running from early July onwards and the second quarter was impacted by an unplanned outage.

Beaumont produced 239,000 tonnes of methanol and 88,000 tonnes of ammonia in the third quarter compared to 11,000 tonnes of methanol and 4,000 tonnes of ammonia in the four days of operation in the second quarter. The Natgasoline plant produced 222,000 tonnes of methanol (Methanex share) in the third quarter compared to 10,000 tonnes of methanol (Methanex share) in the four days of operation in the second quarter. Both plants have been operating safely and at high rates since acquisition.

Chile

Chile produced 224,000 tonnes in the third quarter of 2025 compared to 295,000 tonnes in the second quarter of 2025. Third quarter production was lower than the second quarter primarily due to the seasonal reduction in gas supply from Argentina during the Southern Hemisphere winter. The Chile I plant operated at full rates for the whole quarter for the first time in more than ten years. Chile IV successfully completed a planned turnaround during the quarter and returned to operations at the start of October with increased gas availability from Argentina, which we believe will allow both plants to operate at full rates through to April 2026. We have gas contracts in place with Chilean and Argentinean gas producers until 2030 and 2027, respectively, which underpin approximately 55% of the site's gas requirements year-round. While seasonality in production is expected to continue, we are seeing generally positive developments in natural gas availability.

Trinidad

In Trinidad, the Titan plant produced 203,000 tonnes in the third quarter of 2025 compared to the 216,000 tonnes in the second quarter of 2025.

New Zealand

New Zealand produced 123,000 tonnes in the third quarter of 2025 compared to 53,000 tonnes in the second quarter of 2025. Third quarter production increased compared to the second quarter with Motunui II operating for the full period. The plant restarted in early July after the completion of a short-term commercial agreement to redirect contracted natural gas to the New Zealand electricity market. Future production will be dependent on the performance of existing wells, future upstream development and any on-selling of gas into the electricity market to support New Zealand's energy needs. Gas supply availability in New Zealand continues to be challenged and we continue to work with our gas suppliers and the government to sustain our operations in the country.

Egypt

Egypt produced 260,000 tonnes (Methanex interest - 130,000 tonnes) in the third quarter of 2025 compared to 248,000 tonnes (Methanex interest - 124,000 tonnes) in the second quarter of 2025. Gas availability in Egypt is influenced by several factors, including domestic production levels, gas imports and seasonal demand fluctuations. We are monitoring the gas market closely and may experience some curtailments, particularly in the summer months, depending on gas supply and demand dynamics. The plant returned to full rates at the start of September.

Canada

Medicine Hat produced 140,000 tonnes in the third quarter of 2025 compared to 83,000 tonnes in the second quarter of 2025. After completing a planned turnaround in the second quarter, the Medicine Hat facility has been operating at full rates.

Outlook

We expect our 2025 production, inclusive of our newly acquired assets, to be approximately 8.0 million tonnes (Methanex interest), of which 7.8 million tonnes are methanol and 0.2 million tonnes are ammonia. Actual production may vary by quarter based on gas availability, turnarounds, unplanned outages and unanticipated events.

In the fourth quarter of 2025, we expect meaningfully higher Adjusted EBITDA compared to the third quarter, with higher produced sales combined with a slightly lower average realized price. Based on our October and November posted prices we expect that our average realized price range will be approximately $335 to $345 per tonne for these two months.

CONFERENCE CALL

A conference call is scheduled for October 30, 2025 at 11:00 am ET (8:00 am PT) to review these third quarter results. To access the call, dial the conferencing operator fifteen minutes prior to the start of the call at (647) 932-3411, or toll free at (800) 715-9871. The conference ID for the call is #2019292. A simultaneous audio-only webcast of the conference call can be accessed from our website at www.methanex.com/investor-relations/events and will also be available following the call.

ABOUT METHANEX

Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to customers globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Market in the United States under the trading symbol "MEOH".

FORWARD-LOOKING INFORMATION WARNING

This third quarter 2025 press release contains forward-looking statements with respect to us and the chemical industry. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond the Company's control. Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Methanex does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law. Refer to Forward-Looking Information Warning in the third quarter 2025 Management's Discussion and Analysis for more information which is available from the Investor Relations section of our website at www.methanex.com, the Canadian Securities Administrators' SEDAR+ website at www.sedarplus.ca and on the United States Securities and Exchange Commission's EDGAR website at www.sec.gov.

NON-GAAP MEASURES

Throughout this document, the Company has used the terms Adjusted EBITDA, Adjusted net income, and Adjusted net income per common share. These items are non-GAAP measures and ratios that do not have any standardized meaning prescribed by GAAP. These measures represent the amounts that are attributable to Methanex Corporation shareholders and are calculated by excluding the mark-to-market impact of share-based compensation as a result of changes in our share price, the impact of the Egypt and New Zealand gas contract revaluation and the impact of certain items associated with specific identified events. Refer to Additional Information - Non-GAAP Measures on page 16 of the Company's MD&A for the period ended September 30, 2025 for reconciliations to the most comparable GAAP measures. Unless otherwise indicated, the financial information presented in this release is prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

For further information, contact:

Jessica Wood-Rupp

Director, Corporate Development and Investor Relations

Methanex Corporation

604-661-2600

Methanex Reports Third Quarter 2025 Results