#1Methanex: The Global Methanol Leader Investor Presentation | November 2021 methanex the power of agility • 0 0 • K#22 Forward-looking statements and non-GAAP measures Information contained in these materials or presented orally, either in prepared remarks or in response to questions, contains forward-looking statements. Actual results could differ materially from those contemplated by the forward-looking statements. For more information, we direct you to our 2020 Annual MD&A and slide 31 of this presentation. This presentation uses the terms EBITDA, Adjusted EBITDA and illustrative Free Cash Flow. These items are non-GAAP measures that do not have any standardized meaning prescribed by GAAP and therefore unlikely to be comparable to similar measures presented by other companies. These measures represent the amounts that are attributable to Methanex Corporation and are calculated by excluding the impact of certain items associated with specific identified events. Refer to slide 31 of this presentation as well as Additional Information Supplemental Non-GAAP Measures in the Company's 2020 Annual MD&A for reconciliation in certain instances to the most comparable GAAP measures. All currency amounts are stated in United States dollars. - methanex the power of agility#3Methanex highlights methenex methanex the power of agility#44 Industry leader well-positioned to capitalize on market recovery Methanex is the world's largest producer and supplier of methanol to major international markets Global methanol leader Leading market share, global production footprint, integrated global supply chain Positive long-term industry outlook New industry supply is needed to meet growing methanol demand Strong free cash flow generation potential Low-cost producer with significant cash flow generation capability Disciplined approach to capital allocation Prudent balance sheet management, profitable capital investments and strong track record of shareholder distributions over the cycle methanex#55 Business highlights 1 Robust methanol prices supported by higher global energy prices, ongoing industry supply challenges and demand recovery 2 Strong financial results and cash generation highlight the significant leverage of our earnings to methanol prices 3 4 5 Finalized strategic shipping partnership agreement between Methanex and Mitsui O.S.K. Lines Ltd (MOL) • MOL to acquire a 40% minority in Waterfront Shipping (Methanex subsidiary) for $145 million Strengthening our global asset portfolio • . • Completed low-cost debottlenecking project in Geismar, Louisiana (annual production increase of 0.2M tonnes) Restarted production at our Chile IV plant (annual operating capacity of 0.8M tonnes) Building our Geismar 3 methanol project, which is significantly de-risked, with commercial operations targeted for late 2023/early 2024 (1.8M tonnes) Disciplined and consistent capital allocation priorities with commitment to returning excess cash to shareholders • • Increased emphasis on financial flexibility with higher cash balances, lower leverage and flexible vehicles for shareholder distributions Announced a reset of our quarterly dividend to $0.125 per share Approved a 5% share repurchase program methanex the power of agility#6Strategic shipping partnership Strategic partnership between Methanex, Waterfront Shipping (WFS) and Mitsui O.S.K. Lines (MOL): - - Expands on a 30-year methanol shipping relationship Methanex and Waterfront Shipping to benefit from MOL's broad shipping experience to enhance its shipping operations Parties to work together to advance the commercialization of methanol as a lower emission marine fuel MOL will acquire a 40% minority interest in WFS - Proceeds of $145M Methanex retains remaining 60% majority interest No change to Waterfront Shipping's day-to-day operations Unlocks underappreciated value of WFS to further enhance our financial strength and flexibility POWERED BY METHANOL 6 1 Waterfront Shipping, a subsidiary of Methanex, operates the world's largest methanol ocean tanker fleet WATERFRONT#7Continuing focus on ESG and sustainability Disclosures aligned with the Sustainability Accounting Standards Board (SASB) ENVIRONMENTAL • Ordered 8 new methanol dual-fuel vessels 7 Obtained International Sustainability & Carbon Certification for biomethanol production in the US 59,000 MT of low-carbon methanol production in Medicine Hat Zero significant environmental spills globally Developing a comprehensive long-term CO2 emissions reduction and climate strategy Established two leadership teams focused on emission reductions SOCIAL Successfully executed two turnarounds in the challenging pandemic environment POWERED BY METHANO Sustainability Report 2020 methanex Building a better future together Received a Grand Slam Award from the Association of American Railroads for our rail safety performance in North America Hosted 35 product safety and stewardship sessions Committed to diversity and inclusion (D&I); appointed a permanent Director of Diversity & Inclusion and formed a Global D&I Council to lead the Company's D&I strategy Donated $1.7 million and ~7,500 volunteer hours GOVERNANCE Embedded a gender target (at least 30%) into the Board Diversity Policy which we are exceeding Cybersecurity training for ~1,900 global employees and contractors methanex the power of agility#8Global, pure-play methanol leader methanex the power of agility#9Industry leadership is core to our strategy and superior performance Estimated industry market share 15% 10% Methanex is the market leader 5% 0% Methanex Proman/Helm Sabic 9 Source: Methanex Yankuang Zagros OCI Petronas MGC • • • • Scale and flexibility enables Methanex to be the supplier of choice to customers around the world Strong customers that are leaders in their industry Ability to optimize global sourcing plans while maintaining security of supply for customers New market development, product stewardship and advocacy We continually enhance this key value driver by growing our production as the market grows • ~13% global market share - double that of our next competitor Unique global position as the only supplier with well- established production and sales in all major regions methanex the power of agility#10Clear competitive advantage from integrated global capabilities Investing in industry-leading, secure, reliable supply from a global network of plants is a fundamental driver of long-term results • • • Network of production sites to supply every major global market Fleet of dedicated ocean vessels Extensive integrated global supply chain and distribution network "Local" customer service ASIA Beijing Seoul Shanghai Tokyo Hong Kong tô Medicine Hat EUROPE Vancouver NORTH AMERICA Dallas Brussels MIDDLE EAST Damietta Dubai Geismar Cairo Trinidad AFRICA SOUTH AMERICA Santiago 10 10 Auckland New Plymouth Production Sites Global Office Locations Distribution Terminals and Storage Facilities Shipping Lanes Punta Arenas methanex the power of agility#1111 Methanex is well positioned on the global industry cost curve Illustrative methanol industry cost curve ($/tonne) Global methanol demand • . Methanex plants are competitive across a wide range of methanol prices We estimate that our assets are positioned on the low-to- mid portion of the industry cost curve Steep high end of industry cost curve reflects high cost coal and natural gas-based production in China Other higher cost regions are Russia, Europe, India Cost curve shifts upward in higher energy price environments 45 55 65 75 85 Global production (million tonnes) methanex the power of agility#1212 Methanex annual production capacity Plant New Zealand Annual operating capacity¹ (000s tonnes) 2,200 Current # of plants² Gas supply 3 Geismar³ 2,200 2 Trinidad (Mx share) 1,960 2 Chile 1,700 2 Multiple medium-to long-term physical contracts which include a base price and variable price component linked to methanol prices Physical contract, financial hedges and spot market Physical contract which includes a base price and variable price component linked to methanol prices Multiple short-to-medium term contracts which include a base price and variable price component linked to methanol prices Egypt (Mx share) 630 1 Medicine Hat 640 1 Long-term contract which includes a base price and variable price component linked to methanol prices Physical contract, physical hedges Total 9,330 11 Supply chain Asia Pacific North America and other major markets around the globe Asia and other major markets around the globe South America and other major markets around the globe Egypt and Europe Western Canada and US 1 Annual operating capacity reflects, among other things, average expected plant outages, turnarounds and average age of the facility's catalyst. 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 composition or the age of the facility's catalyst. 2 Our Waitara Valley plant in New Zealand and Titan plant in Trinidad are currently idled due to natural gas availability. 3. Currently building our Geismar 3 methanol project (1.8M tonnes) with commercial operations targeted for late 2023/early 2024. methanex the power of agility#13Positive long-term methanol industry outlook methanex the power of agility#1414 Methanol is an essential ingredient in modern life TRADITIONAL CHEMICAL APPLICATIONS Essential ingredient used in countless industrial and consumer products (approx. 50% of global methanol demand) Methanol is used to produce a variety of chemical derivatives that are the building blocks for a wide range of everyday consumer and industrial items Insulation Adhesives Lumber Solvents Synthetic fibers ENERGY-RELATED APPLICATIONS Represents a growing demand segment for methanol (approx. 50% of global methanol demand) Methanol can be used to produce olefins to make various everyday products Methanol is a clean-burning fuel that can help improve local air quality by reducing emissions • Marine fuel that can meet current/future environment regulations Lower emission vehicle fuel Clean burning fuel for thermal applications including industrial boilers, kilns, cooking stoves Demand is influenced by energy prices, price of end products and government regulations/policies Methanol-to- olefins (MTO) Methyl tertiary- butyl ether (MTBE) Fuel applications Limited, if any, cost-effective substitutes for methanol-based chemical derivative products and demand for these applications is relatively price inelastic Demand is linked to GDP and industrial production levels, particularly automotive and construction markets Paint methanex the power of agility#1515 Methanol is a clean-burning alternative fuel • • Marine fuel that meets environmental regulations Shipping regulations (IMO 2020) require cleaner-burning fuels Methanol is a clean-burning fuel that meets regulations and is cost competitive over the cycle Approximately 60% of Waterfront Shipping's (Methanex's wholly owned subsidiary) fleet will be able to run on methanol, and other low-sulphur fuels which provides flexibility Several other companies have begun to use or are currently commissioning their own methanol-powered vessels Vehicle fuel that reduces emissions Methanol is an affordable gasoline substitute in China Reduces emissions when blended with or substituted for gasoline Several other countries are at the assessment or near-commercial stage for low-level methanol fuel blending • Lower emission fuel source Methanol is used as an alternative to coal for industrial boilers and kilns to reduce emissions Currently represents approximately 2M tons of demand Represents significant upside potential for long-term demand methanex the power of agility#1616 IHS forecasts strong methanol demand growth over the next five years M tonnes Methanol demand growth outlook 2021-2025 100 +3% CAGR +4% CAGR 82 +4% CAGR 10 26 15 22 42 +17M tonnes or 20% over next five years Global methanol demand growth forecast ~4% CAGR Traditional chemical applications - steady growth 31 • Demand growth linked to global economic growth 18 51 2020 2025 I Traditional chemical MTO Other energy Sources: IHS Chemical Supply & Demand Fall 2021 Update International Monetary Fund (IMF) World Economic Outlook, October 2021 IMF forecasts ~3-4% annual GDP growth post COVID-19 recovery Methanol-to-olefins (MTO) - stable demand • Demand growth reflects start-up of two MTO plants in the near-term (Tianjin Bohai, Qinghai Damei) Historical operating rates resilient through different methanol/olefin price cycles Energy-related demand - significant upside potential • Growing market for methanol supported by clean energy policies and commercialization of methanol as a lower emission fuel (e.g., marine fuel) methanex the power of agility#17Limited new industry capacity additions after 2022 Estimated committed industry capacity additions 2021-2025 Size New capacity additions Country Plant Expected start-up timing (M tonnes) US Koch 1.7 2021 New capacity additions are expected in the near-term with limited new project commitments beyond 2022 Iran Sabalan 1.7 Industry operating rates US Various 0.8 2021/2022 Geismar 2 debottleneck ('21) US Methanol (late '21) Others Recent industry operating rates have been challenged due to: Russia Shchekinoazot 0.5 2022 - Iran-new plants have run on an intermittent basis due to technical issues and natural gas constraints Includes backward integration of Trinidad impacted by natural gas challenges two MTO plants (2021) and stand- China Various 5.5 Venezuela - impacted by lack of investment under US sanctions China feedstock availability and environmental restrictions alone capacity additions primarily in 2021/2022 US Geismar 3 1.8 End of 2023/early 2024 Expect industry operating rates to continue to be challenged due to: 17 12 Feedstock availability and higher energy prices Technical issues Geopolitical challenges Environmental restrictions (e.g., China) Source: IHS Chemical Supply & Demand Fall 2021 Update methanex the power of agility#1818 New industry supply and improved industry operating rates are needed to meet growing methanol demand M tonnes 18.0 Supply/demand outlook 2021-2025 Incremental production required i from existing industry capacity Source: IHS Chemical Supply & Demand Fall 2021 Update Estimated supply growth reflects IHS estimates of incremental production based on: Estimated capacity additions (capacity in M tonnes denoted below); and Estimated operating rates for existing and new capacity. • - United States: Koch (1.7), Geismar 3 (1.8), other (0.8) - Trinidad: Caribbean Gas Chemical Limited (1.0) started up in late 2020 - Iran: Sabalan (1.7) - Russia (0.5) - China: includes backward integration of two existing MTO facilities and stand- alone capacity additions (5.5) - Improved industry operating rates includes IHS estimates primarily for Chile, Venezuela, Western Europe 16.0 Other energy 14.0 12.0 China MTO 10.0 8.0 Russia Iran 6.0 Traditional Trinidad 4.0 chemical Geismar 3 2.0 0.0 Estimated demand growth Other US Estimated supply growth methanex the power of agility#1919 Positive methanol price outlook Strong near-term pricing outlook Higher methanol prices and tight market conditions supported by: Steady methanol demand Low global inventory levels Ongoing industry supply challenges Higher energy price environment Significant steepening of industry cost curve Global energy shortages and higher energy prices provide firm methanol price support Marginal producer includes high-cost coal-based methanol producers and natural gas-based producers in China $/tonne Third party price forecasts Industry forecasts ¹ show pricing at: ~$330-$350/tonne in the near-term ~$400+/tonne in the mid-to-long term 500 400 300 200 IHS 2021 2022 2023 2024 2025 MMSA 2026 2027 2028 2029 2030 Average 1 Source: IHS methanol price forecast (June 2021) and MMSA methanol price forecast (March 2021) Historical methanol price distribution 2011-2021 Methanol prices have averaged ~$350/tonne over the last 10 years and have been above $300 over 70% of the time 88% 80% 73% 53% 25% > > $250 $275 >$300 >$350 >$400 Methanex quarterly average realized price methanex the power of agility#20Strong cash flow generation potential with significant leverage to methanol prices methanex the power of agility#21Illustrative Adjusted EBITDA and free cash flow capabilities In $M, except where noted Annual Production¹ Average realized Current production capability2 Current production capability plus Geismar 33 price per tonne Adjusted EBITDA capability4 Free cash flow capability5 Free cash flow yield6 Adjusted EBITDA capability4 Free cash flow capability5 Free cash flow yield6 $275 525 100 3% 675 200 5% $300 650 200 5% 850 325 9% $325 775 300 8% 1,025 450 12% $350 900 400 11% 1,175 600 16% $400 1,175 600 16% 1,525 850 22% Refer to slide 36 for details 21 24 Estimate $10/MT increase in methanol price results in ~$50M increase in Adjusted EBITDA methanex the power of agility#22Methanex cost structure Representative operating cost distribution Natural gas1 Logistics² Fixed / G&A Natural gas Flexible cost structure as approximately 60% of our natural gas supply contracts are linked to methanol prices: North America: ~65% of current natural gas requirements under fixed price contract or hedges Rest of world: natural gas price varies based on methanol prices which enables assets to be competitive across price cycle Logistics • • • Fleet of 30 leased and owned vessels supplemented with short-term COA vessels and spot vessel shipments Integrated supply chain allows benefit of back-haul shipments Network of owned and leased terminals worldwide Various in-region logistics capabilities including tanker, barge, rail, truck and pipeline Fixed manufacturing and G&A costs 22 22 1 Natural gas prices vary with methanol pricing 2 Logistics costs vary based on oil/bunker fuel prices • Primarily people costs methanex the power of agility#23Disciplined and consistent capital allocation priorities to go fearing pued Investment o effic AVOOL methanex the power of agility#24Consistent capital allocation priorities with emphasis on financial flexibility Disciplined capital allocation framework... 1 Essential 2 Profitable growth 3 Shareholder distributions Debt service ~$100M lease principal payments ~$160M interest, debt repayment Maintenance capital ~$120M per year Pursue value accretive growth opportunities Strong track record of and continued commitment to returning excess cash to shareholders ...with increased emphasis on financial flexibility Maintain a strong and flexible balance sheet 1. Target higher cash balances Maintain a minimum $300M+ of cash plus remaining G3 capital costs on balance sheet; $300-500M post G3 construction 2. Target lower leverage Deleverage over the coming years; next debt maturity in 2024 Target 3x debt/EBITDA at methanol prices ~$275-$300/tonne 3. Return excess cash to shareholders through a sustainable dividend with greater weighting on flexible vehicles for distributions such as share buybacks 24 224 methanex the power of agility#2525 Strong track record of balanced capital investment and shareholder distributions 10-year capital allocation history 10-year capital allocation mix $1,200 $500 $450 $1,000 $400 $800 $350 $600 $300 $/tonne 40% 60% $400 $250 $200 $200 ■Capital investments $0 $150 ■Shareholder distributions 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Capital investments (LHS) Shareholder distributions (LHS) Methanol price (RHS) Shareholder distributions include dividend and share buybacks Methanol price reflects Methanex's quarterly average realized price methanex the power of agility#2626 Committed to building on strong track record of returning excess cash to shareholders Average G3 significantly increases our future cash generation capability Illustrative free cash flow capability ($M) • realized price per tonne Current Current production Potential increase in free cash flow with G3 production capability + capability G3 $ % $275 100 200 + 100 + 100% $300 200 325 +125 + 63% $325 300 450 + 150 $350 400 600 + 200 + 50% + 50% $400 600 850 + 250 + 42% Refer to slide 36 for details Intend to fund remaining Geismar 3 capital costs with cash on hand and future cash flow Committed to returning excess cash to shareholders Ability to further de-lever and increase shareholder distributions during the Geismar 3 construction period at sustained methanol prices of $325/tonne or higher Board approved reset of quarterly dividend to $0.125/share- from $0.0375/share Announced approval of a 5% share repurchase program Geismar 3 supports a significant increase in future shareholder distribution potential Geismar 3 is the only significant growth capital expected over next few years Return excess cash to shareholders through a sustainable dividend with greater weighting on flexible vehicles for distributions such as share buybacks methanex the power of agility#27Our Geismar 3 project has significant capital and operating cost advantages methane the power of achte#2828 Project overview Size: 1.8M tonne methanol plant Location: Geismar, Louisiana adjacent to existing Geismar 1 and plants (current capacity 2.2M tonnes) Key dates: - - - July 2019 reached a final investment decision April 2020 - placed project on temporary "care and maintenance" July 2021 board unanimously approved restarting construction October 2021 - construction restarted Commercial operations targeted for the end of 2023/early 2024 Reliable capital cost estimates: Revised capital cost estimate of $1.25-$1.35 billion Original estimate was $1.3-$1.4 billion Approximately $455M committed as of the end of Q3 2021 through the care and maintenance period Approximately $800-900M of remaining capital costs, after resuming construction, with healthy allowances to cover remaining risks MAMMOET MMOE#29Geismar 3 has distinct project advantages and robust project economics 1. Project returns - significant capital and operating cost advantages enhance project returns 2. Based on remaining capital costs¹ Estimate IRR of 20-28% for methanol prices between $350 and $400/tonne, gas price of $2.90/mmbtu and freight to Asia We return our cost of capital at methanol prices of ~$250/tonne Significant capital cost advantages - use of excess hydrogen from Geismar 1 and Geismar 2 eliminates the need for a primary reformer 3. Meaningful brownfield advantages - shared infrastructure with Geismar 1 and 2 creates capital and operating cost advantages Well-situated - with access to long-term cost advantaged 3rd party supply for oxygen, utilities and terminal capacity 4. 5. Low cost-operating cost advantages make Geismar 3 one of the lowest cost plants in our portfolio 6. Significant cash generation capability - expect incremental free cash flow of ~$125-$250M per year (methanol price of $300-400/tonne) 7. Natural gas supply - underpinned by abundant and low-cost US natural gas resources 8. Very low CO2 emissions intensity - estimated to be among the lowest CO2 emissions intensity methanol plants in the world² Lower country risk - lower construction and operational risk for manufacturing assets in the US compared to other regions 29 9. 10. Project de-risked - activities completed during care and maintenance period significantly reduce the project execution risk profile 11. Labour availability - Geismar 3 project is well-positioned in the construction market ahead of other non-methanol major projects in the US Gulf Coast 12. Supply chain flexibility - global supply chain capabilities create low cost flexibility to respond to tariffs 1 Based on remaining Geismar 3 capital costs (~$800-900M), after resuming construction, and excludes costs of approximately $455M committed as of the end of Q3 2021 through the care and maintenance period 2 Estimate that Geismar 3's CO2 emissions intensity (Scope 1 and Scope 2) to be less than 0.4/tonne vs existing Mx portfolio of ~0.6/tonne and vs coal-based methanol plants (5-7x higher than natural gas-based plants) methanex the power of agility#3030 Geismar 3 project is significantly de-risked and well-positioned for success Total project cost $1.25B- $1.35B Construction labour • Construction labour Strong project and construction management capability with prior Geismar 1 and 2 project experience G3 project is well-positioned in the construction market ahead of other major projects Utilizing sub-contractors with proven experience and track record from our Geismar 1 and 2 projects Applied learnings from Geismar 1 and 2 projects to further enhance construction productivity ~$800M - 900M to go¹ Fixed or firm costs Fixed or firm project costs Large portion of remaining project costs are fixed or firm including: Integrated project team and other Owner's costs (e.g. salaries, catalyst supply, key spare parts already procured) Pricing established for most of the remaining bulk material costs (mainly piping and structural steel) Residual bulk material spend will be fixed before the end of 2021 Spend through Q3 2021 Focus of spend during this period has significantly de-risked future project execution - such as: • ~1/3 of total project costs spent since FID and through 'care and maintenance' Spend through end of Q3 2021 Site preparations complete allow for early resumption of main construction activities Engineering substantially (>95%) complete eliminating potential scope risk and improves construction productivity Long-lead equipment procured and fabricated and will arrive on site early reducing schedule risk 1 Reflects remaining capital costs, after resuming construction, with healthy allowances for both escalation and contingency costs methanex the power of agility#3131 Forward-looking statements and non-GAAP measures This presentation, our Third Quarter 2021 Management's Discussion and Analysis ("MD&A") as well as comments made during the First Quarter 2021 investor conference call contain forward-looking statements with respect to us and our industry. These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. Statements that include the words "believes," "expects," "may," "will," "should," "potential," "estimates," "anticipates," "aim," "goal", "targets", "plan," "predict" or other comparable terminology and similar statements of a future or forward-looking nature identify forward-looking statements. More particularly and without limitation, any statements regarding the following are forward-looking statements: expected demand for methanol and its derivatives, expected new methanol supply or restart of idled capacity and timing for start-up of the same, expected shutdowns (either temporary or permanent) or restarts of existing methanol supply (including our own facilities), including, without limitation, the timing and length of planned maintenance outages, expected methanol and energy prices, expected levels of methanol purchases from traders or other third parties, expected levels, timing and availability of economically priced natural gas supply to each of our plants, capital committed by third parties towards future natural gas exploration and development in the vicinity of our plants, our expected capital expenditures and anticipated timing and rate of return of such capital expenditures, anticipated operating rates of our plants, expected operating costs, including natural gas feedstock costs and logistics costs, expected tax rates or resolutions to tax disputes, the timing of the closing of the sale of a minority interest in our Waterfront Shipping subsidiary, expected cash flows, cash balances, earnings capability, debt levels and share price, availability of committed credit facilities and other financing, our ability to meet covenants associated with our long-term debt obligations, including, without limitation, the Egypt limited recourse debt facilities that have conditions associated with the payment of cash or other distributions, our shareholder distribution strategy and expected distributions to shareholders, commercial viability and timing of, or our ability to execute future projects, plant restarts, capacity expansions, plant relocations or other business initiatives or opportunities, including our Geismar 3 Project, our financial strength and ability to meet future financial commitments, expected global or regional economic activity (including industrial production levels) and GDP growth, expected outcomes of litigation or other disputes, claims and assessments, expected actions of governments, governmental agencies, gas suppliers, courts, tribunals or other third parties, and the potential future impact of the COVID-19 pandemic. We believe that we have a reasonable basis for making such forward-looking statements. The forward-looking statements in this document are based on our experience, our perception of trends, current conditions and expected future developments as well as other factors. Certain material factors or assumptions were applied in drawing the conclusions or making the forecasts or projections that are included in these forward-looking statements, including, without limitation, future expectations and assumptions concerning the following: the supply of, demand for and price of methanol, methanol derivatives, natural gas, coal, oil and oil derivatives, our ability to procure natural gas feedstock on commercially acceptable terms, operating rates of our facilities, receipt or issuance of third-party consents or approvals or governmental approvals related to rights to purchase natural gas, the establishment of new fuel standards, operating costs, including natural gas feedstock and logistics costs, capital costs, tax rates, cash flows, foreign exchange rates and interest rates, the availability of committed credit facilities and other financing, the expected timing and capital cost of our Geismar 3 Project, global and regional economic activity (including industrial production levels) and GDP growth, absence of a material negative impact from major natural disasters, absence of a material negative impact from changes in laws or regulations, absence of a material negative impact from political instability in the countries in which we operate, and enforcement of contractual arrangements and ability to perform contractual obligations by customers, natural gas and other suppliers and other third parties. However, forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The risks and uncertainties primarily include those attendant with producing and marketing methanol and successfully carrying out major capital expenditure projects in various jurisdictions, including, without limitation: conditions in the methanol and other industries including fluctuations in the supply, demand and price for methanol and its derivatives, including demand for methanol for energy uses, the price of natural gas, coal, oil and oil derivatives, our ability to obtain natural gas feedstock on commercially acceptable terms to underpin current operations and future production growth opportunities, the ability to carry out corporate initiatives and strategies, actions of competitors, suppliers and financial institutions, conditions within the natural gas delivery systems that may prevent delivery of our natural gas supply requirements, our ability to meet timeline and budget targets for the Geismar 3 Project, including the impact of any cost pressures arising from labour costs, the signing of definitive agreements and the receipt of regulatory and other customary approvals in respect of the sale of a minority interest in our Waterfront Shipping subsidiary, competing demand for natural gas, especially with respect to any domestic needs for gas and electricity, actions of governments and governmental authorities, including, without limitation, implementation of policies or other measures that could impact the supply of or demand for methanol or its derivatives, changes in laws or regulations, import or export restrictions, anti-dumping measures, increases in duties, taxes and government royalties and other actions by governments that may adversely affect our operations or existing contractual arrangements, world-wide economic conditions, the impacts of the COVID-19 pandemic, and other risks described in our 2020 Annual Management's Discussion and Analysis and our Third Quarter 2021 Management's Discussion and Analysis. Having in mind these and other factors, investors and other readers are cautioned not to place undue reliance on forward-looking statements. They are not a substitute for the exercise of one's own due diligence and judgment. The outcomes implied by forward-looking statements may not occur and we do not undertake to update forward-looking statements except as required by applicable securities laws methanex the power of agility#3232 Appendix methanex the power of agility#3333 Methanol production process Natural gas Desulphurization of natural gas Compressor 2 Reforming Desulphurization Air Separator Unit Steam Reformer Autothermal Reformer Waste Heat Recovery 3 Methanol synthesis Make-up Gas Compressor Purge Recycle Gas Compressor APPENDIX 4 Distillation Methanol Reactors Refined Methanol Raw Methanol Water methanex the power of agility#3434 Global methanol industry demand By application Other Traditional 16% Methanol-to- olefins (MTO) 18% Acetic Acid. 8% Formaldehyde 26% Methyl tert- butyl ether (MTBE) 11% By region North America 12% Other 4% Other fuel applications 10% AP (ex. China) 14% Dimethyl Biodiesel ether (DME) 5% 6% Source: IHS Chemical Supply and Demand Fall 2021 Update Europe 10% APPENDIX China 60% methanex the power of agility#35Global methanol industry demand - by application Traditional chemical Applications % of global demand¹ Formaldehyde • ~26% • applications Acetic acid ~8% (Over 50% of global methanol • demand) Other traditional ~16% Methanol-to-olefins ~18% (MTO) Energy-related Methyl tert-butyl ether (MTBE) ~11% applications (Close to 50% of Fuel applications ~10% global methanol demand) Dimethyl ether (DME) Biodiesel • ~6% ~5% 35 Source: IHS Chemical Supply and Demand Fall 2021 Update APPENDIX • . End uses Used as wood adhesive for plywood, particleboard and other engineered wood products Also used as raw material for a variety of building and automotive products Used to produce a wide variety of products including adhesives, paper, paint, plastics, resins, solvents, pharmaceuticals and textiles Used to produce a wide range of products including adhesives, coatings, plastics, film, textiles, paints, solvents, paint removers, polyester resins/fibers, silicone products Used as an alternative feedstock to produce light olefins (ethylene and propylene) to produce various everyday products used in packaging, textiles, plastic parts/containers and auto components Used as an oxygenate blending into gasoline to contribute octane and reduce the amount of harmful exhaust emissions from motor vehicles Used as an alternative clean-burning fuel for transportation, industrial boilers and kilns, and in a smaller quantity, for cooking stoves A clean-burning fuel that is used as a substitute for liquified petroleum gas (LPG) for household cooking and heating. Can be used as a clean-burning substitute for diesel fuel in transportation A renewable fuel made from plant oils or animal fats that uses methanol in the production process methanex the power of agility#3636 Illustrative Adjusted EBITDA and free cash flow capabilities assumptions 1 Reflects Methanex interest (63.1% Atlas, 50% Egypt). 2 Reflects estimated annual production of ~7.0M tonnes. 3 Reflects current estimated annual production of ~7.0M tonnes plus Geismar 3 (1.8M tonnes). 4 Adjusted EBITDA reflects Methanex's proportionate ownership interest. Approximately 65% of our current North American natural gas requirements are under fixed price contracts or hedges. The unhedged portion of our North American natural gas requirements are purchased under contracts at spot prices. Estimates assume a natural gas price of approximately $3.00/mmbtu. 5 Based on rule of thumb using current production capability of ~7.0M tonnes, we estimate free cash flow breakeven price of $250-260/tonne and free cash flow sensitivity to change in methanol price of $25/tonne = ~$100M annual free cash flow. Free cash flow capability is after lease payments, cash interest (based on current debt levels), debt service, maintenance capital, estimated cash taxes and other cash payments. Various factors including rising/declining methanol prices, planned and unplanned production outages, production mix, changes in tax rates, and other items can impact actual free cash flow. Incremental free cash flow from G3 is presented net of estimated maintenance capital and tax costs. Tax costs were estimated using current enacted tax rates applied over the life of the asset. Timing of actual taxes payable may vary 6 Free cash flow yield based on 76.1 M shares outstanding as of 09/30/2021 and a share price of US$50/share. methanex the power of agility#37methanex the power of agility Thank you Investor Relations T: 604 661 2600 [email protected] www.methanex.com in linkedin.com/company/methanex-corporation @Methanex