Mr. John Floren reports

METHANEX ANNOUNCES TSX APPROVAL OF A 5% SHARE REPURCHASE PROGRAM

The Toronto Stock Exchange has approved Methanex Corp.'s previously announced normal course issuer bid (NCIB).

Pursuant to the NCIB, the company will purchase for cancellation up to 3,506,405 common shares, representing 5 per cent of the 70,128,109 shares issued and outstanding as of Sept. 15, 2022. Purchases will be made on the open market through the facilities of the TSX, and will commence on Sept. 26, 2022, and end no later than Sept. 25, 2023. Any purchases will be made from time to time at the then current market price of the shares, and all shares purchased under the NCIB will be cancelled. Subject to certain exceptions for block purchases, any daily purchases under the NCIB through the TSX will not exceed 54,902 shares, representing 25 per cent of the company's average daily trading volume on the TSX for the six-month period ended on Aug. 31, 2022. The company intends to enter into an automatic securities purchase plan with its broker in connection with purchases to be made under the NCIB.

John Floren, president and chief executive officer of Methanex, commented, "Today's announcement reflects the strength of our balance sheet and builds on our long track record of returning excess cash to shareholders."

Under the NCIB initiated by the company on Sept. 24, 2021, which was completed on July 26, 2022, the company repurchased for cancellation 3,810,464 shares through the facilities of the Nasdaq Global Select Market and alternative trading systems in the United States at a volume-weighted average price of $47.83 (U.S.), and 2,283,707 shares through the facilities of the TSX at a volume-weighted average price of $56.14 (Canadian).

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

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