Ms. Sarah Herriott reports

METHANEX ANNOUNCES UPSIZE AND PRICING OF SENIOR UNSECURED NOTES

Methanex Corp.'s wholly owned subsidiary, Methanex U.S. Operations Inc., has priced an offering of $600-million (U.S.) aggregate principal amount of 6.250 per cent senior unsecured notes due 2032 in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended. The size of the offering was increased to $600-million (U.S.) from the previously announced offering size of $500-million (U.S.) in aggregate principal amount of notes. The notes will be issued at a price of 99.289 per cent of the aggregate principal amount, with an effective yield to maturity of 6.375 per cent, and will be guaranteed on a senior basis by Methanex. The offering is expected to close on or about Nov. 22, 2024, subject to the satisfaction of customary closing conditions.

Methanex intends to use the net proceeds from the offering to finance a portion of the cash purchase price of its previously announced agreement to acquire OCI Global's international methanol business (the OCI acquisition) and for general corporate purposes.

The notes will be subject to a special mandatory redemption if either (1) the OCI acquisition is not completed within the time period required by the related acquisition agreement, as it may be extended (but in no event later than May 31, 2026) or (2) Methanex publicly announces that it will not proceed with the OCI acquisition for any reason, as further described in the terms of the notes.

About Methanex Corp.

Methanex is a Vancouver-based, publicly traded company and is the world's largest 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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