Methanex Reports Higher Earnings and Cash Flows in Third Quarter 2026

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

Financial and Production Highlights

• Net income attributable to Methanex shareholders of $265 million, Adjusted EBITDA of $543 million, and Adjusted net income of $284 million in the third quarter.
• Reported an average realized price in the third quarter of $510 per tonne compared to $529 per tonne in the second quarter of 2026. Based on our October and November posted prices and current spot pricing, we expect that our average realized price range will be approximately $525 to $550 per tonne for these two months.
• Produced 2,143,000 tonnes of methanol in the third quarter, with record North American production.
• Announced an agreement to sell substantially all of our remaining New Zealand natural gas contractual entitlements commencing in the first quarter of 2027 and continuing through the end of the decade when such entitlements expire. The expected indefinite idling of our New Zealand production facilities during the first quarter of 2027 resulted in a $10 million accrual for restructuring activities, which has been included as a deduction in the calculation of Adjusted EBITDA.
• Generated $646 million of cash flows from operating activities, returned $14 million to shareholders through regular dividends and ended the quarter with $912 million in cash. Provided notice to redeem $300 million of our existing $700 million bonds due in October 2027 and expect to redeem the final $400 million during the fourth quarter of 2026.
• Subsequent to the quarter, announced approval of a 5% normal course issuer bid to repurchase up to 3,868,213 common shares through November 3, 2027.

VANCOUVER, British Columbia, Oct. 29, 2026 (GLOBE NEWSWIRE) — For the third quarter of 2026, Methanex (TSX:MX) (NASDAQ:MEOH) reported net income attributable to Methanex shareholders of $265 million ($3.42 net income per common share on a diluted basis) compared to a net income of $198 million ($2.45 net income per common share on a diluted basis) in the second quarter of 2026. Adjusted EBITDA for the third quarter of 2026 was $543 million and Adjusted net income was $284 million ($3.69 Adjusted net income per common share). This compares with Adjusted EBITDA of $577 million and Adjusted net income of $300 million ($3.87 Adjusted net income per common share) for the second quarter of 2026.

Rich Sumner, President & CEO of Methanex, said, “The Middle East conflict’s dramatic impact on the methanol industry persisted through the third quarter, with the significant loss of industry supply supporting ongoing pricing strength. Our enhanced asset base continued to run well, particularly in North America, helping to drive another quarter of strong Adjusted EBITDA and cash flow. We remain focused on operating our assets and supply chain safely and reliably as we continue to navigate dynamic conditions.”

FURTHER INFORMATION

The information set forth in this news release summarizes Methanex’s key financial and operational data for the third quarter of 2026. It is not a complete source of information for readers and is not in any way a substitute for reading the third quarter 2026 Management’s Discussion and Analysis (“MD&A”) dated October 29, 2026 and the unaudited condensed consolidated interim financial statements for the period ended September 30, 2026, 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, 2026 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 2026	Jun 30 2026	Sep 30 2025			Sep 30 2026	Sep 30 2025
Production (thousands of tonnes) (attributable to Methanex shareholders)1	2,143	2,213	2,212			6,747	5,452
Sales volume (thousands of tonnes)
Methanex-produced methanol	2,279	2,151	1,891			6,656	5,122
Purchased methanol	170	247	488			639	1,321
Commission sales	146	157	97			477	383
Total methanol sales volume	2,595	2,555	2,476			7,772	6,826
Methanex average non-discounted posted price ($ per tonne)2	987	1,007	578			866	606
Average realized price ($ per tonne)3	510	529	345			462	373
Revenue4	1,388	1,395	927			3,756	2,620
Net income (loss) (attributable to Methanex shareholders)	265	198	(7	)		449	169
Adjusted net income5	284	300	5			608	159
Adjusted EBITDA5	543	577	191			1,340	622
Cash flows from operating activities	646	439	184			1,217	776
Adjusted free cash flow5	520	298	85			848	425
Basic net income (loss) per common share	3.43	2.56	(0.09	)		5.81	2.38
Diluted net income (loss) per common share	3.42	2.45	(0.09	)		5.81	2.21
Adjusted net income per common share5	3.69	3.87	0.06			7.90	2.23
Common share information (millions of shares)
Weighted average number of common shares	77	77	77			77	71
Diluted weighted average number of common shares	77	78	77			77	71
Number of common shares outstanding, end of period	77	77	77			77	77
Methanex-produced methanol represents our equity share of methanol volume produced at our facilities and excludes volume marketed on a commission basis related to the 50% of the Egypt facility that we do not own. Methanex 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. The 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. Revenue includes sales of ammonia and other products, in addition to sales of methanol. Note that Adjusted net income, Adjusted net income per common share, Adjusted EBITDA, and Adjusted free cash flow 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 14 of our third quarter MD&A dated October 29, 2026 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 2026			Jun 30 2026			Sep 30 2025				Sep 30 2026			Sep 30 2025
Net income (loss) attributable to Methanex shareholders	$	265		$	198		$	(7	)		$	449		$	169
Mark-to-market impact of share-based compensation		36			(22	)		13				59			(26	)
Depreciation and amortization		117			121			111				357			319
Finance costs		49			54			61				158			163
Finance income and other expenses		(17	)		15			(3	)			2			(16	)
Income tax expense		96			104			4				203			43
Asset impairment charge1		—			100			—				100			—
Earnings of associates adjustment		27			33			34				95			41
Non-controlling interests adjustment		(30	)		(26	)		(22	)			(83	)		(71	)
Adjusted EBITDA	$	543		$	577		$	191			$	1,340		$	622

	Three Months Ended										Nine Months Ended
($ millions except number of shares and per share amounts)	Sep 30 2026			Jun 30 2026			Sep 30 2025				Sep 30 2026			Sep 30 2025
Net income (loss) attributable to Methanex shareholders	$	265		$	198		$	(7	)		$	449		$	169
Mark-to-market impact of share-based compensation, net of tax		28			(17	)		11				48			(19	)
Mark-to-market impact of gas contract revaluations, net of tax		(9	)		4			1				(3	)		9
Asset impairment charge, net of tax1		—			115			—				115			—
Earnings of associates adjustment, net of tax		—			—			—				(1	)		—
Adjusted net income	$	284		$	300		$	5			$	608		$	159
Diluted weighted average shares outstanding (millions)		77			78			77				77			71
Adjusted net income per common share	$	3.69		$	3.87		$	0.06			$	7.90		$	2.23
The asset impairment charge includes $26 million ($33 million, net of tax) relating to the Titan facility and the Company’s 63.1% share of the impairment charge recognized by Atlas of $74 million ($82 million, net of tax).

• We recorded net income attributable to Methanex shareholders of $265 million in the third quarter of 2026 compared to net income of $198 million in the second quarter of 2026. Net income in the third quarter of 2026 was higher compared to the prior quarter primarily due to the impact of the asset impairment charge recorded in the second quarter of 2026. This was partially offset by a lower average realized price in the third quarter of 2026.
• We sold 2,595,000 tonnes of methanol in the third quarter of 2026 compared to 2,555,000 tonnes of methanol in the second quarter of 2026. Sales of Methanex-produced methanol were 2,279,000 tonnes in the third quarter of 2026 compared to 2,151,000 tonnes in the second quarter of 2026.
• Production of methanol for the third quarter of 2026 was 2,143,000 tonnes compared to 2,213,000 tonnes for the second quarter of 2026. Production was strong across our North American and Egypt assets and was lower in Chile, where we experienced expected seasonal gas availability constraints. In Trinidad, production declined as the Titan plant ceased operations and was indefinitely idled.
• We announced an agreement to sell substantially all of our remaining New Zealand natural gas contractual entitlements commencing in the first quarter of 2027 and continuing through the end of the decade when such entitlements expire. The expected indefinite idling of our New Zealand production facilities during the first quarter of 2027 resulted in a $10 million accrual for restructuring activities, which has been included as a deduction in the calculation of Adjusted EBITDA.
• In the third quarter of 2026 we paid a quarterly dividend of $0.185 per common share for a total of $14 million.
• At September 30, 2026, we had a strong liquidity position, including a cash balance of $912 million and access to a $400 million unutilized revolving credit facility. The Company provided notice to redeem $300 million of our existing $700 million bonds originally due in October 2027. The amount was repaid subsequent to the quarter.
• Subsequent to the quarter, on October 29, 2026, we announced approval of a 5% normal course issuer bid to repurchase up to 3,868,213 common shares through November 3, 2027.

 PRODUCTION HIGHLIGHTS

	Q3 2026		Q2 2026	Q3 2025	YTD Q3 2026	YTD Q3 2025
(thousands of tonnes)	Operating Capacity1	Production	Production	Production	Production	Production
USA
Geismar	1,000	1,007	1,027	931	2,968	2,377
Beaumont2	228	199	185	239	579	250
Natgasoline (50% interest)2	213	221	204	222	628	232
Canada (Medicine Hat)	140	140	143	140	407	363
Chile	425	221	322	224	941	948
Egypt (50% interest)	158	165	165	130	494	390
New Zealand3	215	156	46	123	360	336
Trinidad4	215	34	121	203	370	556
Total Methanol Production	2,594	2,143	2,213	2,212	6,747	5,452
Beaumont Ammonia2	85	83	83	88	251	92
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. The facilities were acquired on June 27, 2025. The operating capacity of New Zealand consists of one Motunui facility, with the other excluded as it is currently idle. The Company expects to indefinitely idle the remaining Motunui facility during the first quarter of 2027. Refer to the New Zealand section below. 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. The Company indefinitely idled the Titan facility during the third quarter. Refer to the Trinidad section below.

Key production and operational highlights during the third quarter include:

United States

Geismar produced 1,007,000 tonnes in the third quarter of 2026 compared to 1,027,000 tonnes in the second quarter of 2026. Beaumont produced 199,000 tonnes of methanol and 83,000 tonnes of ammonia in the third quarter of 2026 compared to 185,000 tonnes of methanol and 83,000 tonnes of ammonia in the second quarter of 2026. Beaumont’s methanol production was higher as the plant was offline for approximately 30 days starting in early June to repair the cooling tower. The Natgasoline plant produced 221,000 tonnes of methanol (Methanex share) in the third quarter of 2026 compared to 204,000 tonnes of methanol (Methanex share) in the second quarter of 2026.

Canada

Medicine Hat produced 140,000 tonnes in the third quarter of 2026 compared to 143,000 tonnes in the second quarter of 2026.

Chile

Chile produced 221,000 tonnes in the third quarter of 2026 compared to 322,000 tonnes in the second quarter of 2026. Production was lower in the third quarter compared to the second quarter as we undertook a single-plant operation through most of the period due to the seasonal reduction of gas availability from Argentina. We restarted two-plant operations late in September. 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 to supply our Chile facilities.

Egypt

Egypt produced 330,000 tonnes (Methanex interest – 165,000 tonnes) in the third quarter of 2026 compared to 330,000 tonnes (Methanex interest – 165,000 tonnes) in the second quarter of 2026. 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 we may experience curtailments in the future, particularly in the summer months, depending on gas supply and demand dynamics in the domestic and international markets.

New Zealand

New Zealand produced 156,000 tonnes in the third quarter of 2026 compared to 46,000 tonnes in the second quarter of 2026. Production was higher in the third quarter due to a planned winter outage in the second quarter to supply gas to the New Zealand electricity sector. The plant was restarted in July and continues to operate at reduced rates. We announced an agreement to sell substantially all of our remaining New Zealand natural gas contractual entitlements commencing in the first quarter of 2027 and continuing through the end of the decade when such entitlements expire, and the expected indefinite idling of the New Zealand production facilities during the first quarter of 2027.

Trinidad

In Trinidad, the Titan plant produced 34,000 tonnes in the third quarter of 2026 compared to 121,000 tonnes in the second quarter of 2026. Production was lower in the third quarter as the plant ceased operations and was indefinitely idled.

Outlook

We expect our 2026 production to be approximately 9.0 million tonnes (Methanex interest) of methanol and 0.3 million tonnes of ammonia. Actual production may vary by quarter based on gas availability, turnarounds, unplanned outages and unanticipated events.

Based on our October and November posted prices and current spot pricing, we expect that our average realized price range will be approximately $525 to $550 per tonne for these two months. Based on a higher realized price and similar sales of produced methanol, we are expecting higher Adjusted EBITDA in the fourth quarter.

CONFERENCE CALL

A conference call is scheduled for October 30, 2026 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 (585) 542-9983, or toll free at (833) 461-5787. The conference ID for the call is #421166240. 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 2026 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 2026 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, Adjusted net income per common share, and Adjusted Free Cash Flow. 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 gas and other contract revaluations and the impact of certain items associated with specific identified events. Refer to Additional Information – Non-GAAP Measures on page 14 of the Company’s MD&A for the period ended September 30, 2026 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:
Robert B. Winslow, CFA
Vice President, Investor Relations
Methanex Corporation
604-661-2600