Slides
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The Global Methanol Leader INVESTOR DAY – TORONTO, ON NOVEMBER 13, 2025
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Forward Looking Statements and Non-GAAP Measures 2 Methanex Investor Day – November 2025 Information contained in these materials or presented orally, either in prepared remarks or in response to questions, may contain forward -looking statements. Actual results could differ materially from those contemplated by the forward -looking statements. For more information, we direct you to our 2024 Annual and 3 rd Quarter Management Discussion and Analysis (MD&A) and slide 69 of this presentation. This presentation uses certain non -GAAP measures that do not have any standardized meaning prescribed by GAAP and therefore are unlikely to be comparable to similar measures presented by other companies. These measures represent the amounts that are attributable to Methanex Corporation and may exclude the impact of specific items. Refer to slide 68 of this presentation as well as Additional Information - Non-GAAP Measures in the Company’s 2024 Annual MD&A for a reconciliation to the most comparable GAAP measures. All currency amounts are stated in United States dollars.
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Welcome to Methanex’s 2025 Investor Day 3 Methanex Investor Day – November 2025 Introduction to the presenting Executive Leadership Team Rich Sumner President & CEO Dean Richardson SVP, Finance & CFO Karine Delbarre SVP, Global Marketing & Logistics Gustavo Parra SVP, Manufacturing Kevin Maloney SVP, Corporate Development Mark Allard SVP, Low Carbon Solutions
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Welcome to Methanex’s 2025 Investor Day 4 Methanex Investor Day – November 2025 Introduction to the Panelists Paul Daoust VP , Projects & Turnarounds Matthew Geary VP , Reliability & Asset Integrity Roger Strevens Director, Low Carbon Regulations & Advocacy Renato Monteiro VP , Low Carbon Methanol Supply
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5 Methanex Investor Day November 2025 Methanex Investor Day November 2025 Rich Sumner | President & CEO Methanex: “Turning the Corner from Investment to Impact”
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Turning the Corner from Investment to Impact High-graded asset portfolio, underpinned by North America natural gas 6 Methanex Investor Day – November 2025 TRANSFORMING WITH PURPOSE METHANOL: A QUIETLY CONSTRUCTIVE MARKET LEVERAGING GLOBAL CAPABILITIES DISCIPLINED CAPITAL ALLOCATION Operational excellence across manufacturing and supply chain Structurally tight methanol market Committed to a strong balance sheet, strong shareholder distributions and high-value investments Proactive management to drive free cash flow and deleveraging FOCUS ON FREE CASH FLOW CONVERSION
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OCI acquisition: Delivering on the thesis 7 Methanex Investor Day – November 2025 OCI Acquisition: Delivering on a Transformational Opportunity 7 Methanex Investor Day – November 2025 >20% increase in production capacity Strategic Alignment ✓ World scale assets with access to abundant low-cost gas ✓ Priced below replacement costs on greenfield & brownfield basis ✓ Ability to integrate, while adding excess value using Methanex global capabilities
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8 Methanex Investor Day November 2025 Methanex Investor Day November 2025 Rich Sumner | President & CEO Methanol: “A Quietly Constructive Market”
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Introduction to Methanol 9 Methanex Investor Day – November 2025
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10 Methanex Investor Day – November 2025 Steady Demand Growth Across Diversified Verticals Atlantic Asia China Chemical ~50% of current demand Energy ~30% of current demand MTO ~20% of current demand T otal annualized demand (MMT) ~20 ~15-20 ~60 > 2% 0-2% Size of bubbles proportional to share of total demand Source: Methanex, based on OPIS (Chemical Market Analytics) data. Outlook of global demand growth (2025-2029) ? Demand growth ( average over next 5 years)
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Nameplate Capacity Mothballed Capacity Seasonal Feedstock Restrictions & Sanctions Effective Capacity Nameplate capacity additions (MMT) 2025 estimated global nameplate vs. effective capacity (MMT) Limited New Capacity Expected & Constrained Supply (Existing Base) Methanex Forecast Methanex Investor Day – November 202511 110 MMT 158 MMT 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 2020 2021 2022 2023 2024 2025 2026F 2027F 2028F 2029F Other ME & Russia China Source: Methanex, based on OPIS (Chemical Market Analytics) data. 5.2 MMT average 2.2 MMT average
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12 Supply growth 2025-2029 Estimated 5-year global methanol demand and supply growth Source: Methanex based on OPIS (Chemical Market Analy tics) data. 1 Demand assumes 85% MTO operating rate, in line with historical av erage 2 Effective supply additions considers operating rates and therefore does not match nameplate capacity on previous slide Demand Effective supply additions At risk production 2029 required supply China 5 MMT ME & Russia 4 MMT 16 MMT 9 MMT 2-4 MMT Net Additions 5-7 MMT Shortfall 9-11 MMT 1 2 Demand Growth And Limited Supply Additions Lead to Growing Supply Gap Demand rationalization and/or higher operating rates required to balance the market
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13 Methanex Investor Day – November 2025 ✓ Marginal producer to remain in China (coal & natural gas) with limited higher cost capacity to switch on ✓ Supply and demand balance tightens, pricing increasingly connected to demand affordability ✓ Methanol-to-olefins is marginal demand, affordability expected to improve over time ✓ Reinvestment economics suggests higher pricing needed ✓ Limited additions of brownfield or greenfield capacity ✓ Inflated capital costs, geopolitical risk, higher funding costs, difficult to finance given current pricing ✓ Evolving regulatory requirements for new projects (environmental, geopolitics) Short run Long run Methanol Price Drivers Over the Short and Long Run
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KEY TAKEAWAYS FOR Methanol: “A Quietly Constructive Market” Methanex Investor Day – November 202514 Industry is operating near full capacity given feedstock, sanction, and reliability constraints. Slower pace of new capacity additions expected versus historically; conditions to support new growth projects are not expected near term. Olefin market is expected to gradually improve and lift MTO affordability.
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15 Methanex Investor Day November 2025 Methanex Investor Day November 2025 Kevin Maloney| SVP , Corporate Development Transforming with Purpose: Leveraging North America’s Feedstock Advantage
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Reduced Portfolio Feedstock Risk Enhances Cash Flow Stability 16 North America Chile Trinidad Egypt North America Size of bubbles proportional to share of run-rate Adjusted EBITDA Low-cost Argentina gas growth Uncertain cross- border opportunities Abundant low-cost gas Very material East Med gas prospects Mature and rapidly declining New Zealand Methanex Investor Day – November 2025
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0 2 4 6 8 10 12 50 60 70 80 90 100 110 Increasing capacity in lockstep with confirming the resilience of low-cost gas Purposeful Build-up of North America Position 17 Includes Beamont ammonia (0.34 mln MT) and reflects Meth an ex’s 50% s hare of Natgasoline from 2025 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Methanex production capacity mln MT Medicine Hat restarted Medicine Hat debottlenecked Geismar 1 on stream Geismar 2 on stream Geismar 1/2 debottlenecked Geismar 3 on stream OCI acquisition US dry gas production Bcf/d Henry Hub price $/MMBtu Methanex Investor Day – November 2025
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Abundant low-cost resource and productivity improvements bound expected prices Positive Long-term North America Gas Outlook Current annual US production Sources: US Energy Information Administration, Potential Gas Committee / Colorado School of Mines Gas Potential Gas Agency, N YMEX, Rystad Energy Actual price through Nov & Dec NYMEX Settle (Nov 7, 2025) NYMEX future prices thereafter (as settle Nov 7, 2025) New-well gas production per drilling rig Henry Hub gas pricesGas resources yet to be produced Certain + likely + possible resource Certain + likely resource with ~50 years of production Certain resource 0.0 1.0 2.0 3.0 4.0 5.0 6.0 2025 2030 2035 100% 200% 300% 400% 500% 600% 2014 2019 2024 Permian Appalachia Anadarko Eagle Ford Haynesville 18 Methanex Investor Day – November 2025
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Distribution of Henry Hub monthly price since 2015 Hedging to Strike a Balance Methanex Investor Day – November 202519 Years in the future Rolling ladder hedge strategy Fraction of gas requirement hedged $1 to $2/MMBtu $2 to $3/MMBtu $3 to $4/MMBtu $4 to $5/MMBtu $5 to $6/MMBtu >$6/MMBtu Benefiting from lower gas prices while protecting against gas price spikes
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Positive outlook for Chile ✓ Vaca Muerta in the Neuquen Basin is most attractive shale basin outside North America ✓ In early stage of developing 300+ tcf of technically recoverable gas ✓ Rapid expansion of take-away capacity ✓ Significant remaining potential in Austral Basin Sources: US Energy Information Administration, US Geological Survey Austral Basin Neuquen Basin Methanex 20 Methanex Investor Day – November 2025 Buenos Aires
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Positive Outlook for Egypt ✓East Med global gas hotspot with all major IOCs active ✓140 – 500 tcf of undiscovered gas ✓Supportive government policy ✓Israel to Egypt pipeline exports a success story Sources: US Energy Information Administration, US Geological Survey 21 Methanex Investor Day – November 2025 Cyprus Methanex Zeus Cronos Calypso Glaucus Zohr NargisNefertari Aphrodite Leviathan Tamar Karish Tanin West Nile Delta Israel WDDM Egypt
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Reduced Portfolio Feedstock Risk Enhances Cash Flow Stability 22 North America Chile Trinidad Egypt North America Size of bubbles proportional to share of run-rate Adjusted EBITDA Low-cost Argentina gas growth Uncertain cross- border opportunities Abundant low-cost gas Very material East Med gas prospects Mature and rapidly declining New Zealand Methanex Investor Day – November 2025
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Transforming with Purpose: Leveraging North America’s Feedstock Advantage Methanex Investor Day – November 202523 KEY TAKEAWAYS FOR In response to upstream changes, we have purposely shifted our production to North America which has a positive long-term outlook. Recent investments have de-risked our portfolio and meaningfully enhanced cash flow delivery capability . Chile and Egypt assets are in gas basins where there is significant upstream activity , resulting in more upside for Methanex.
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North American Assets 24 Methanex Investor Day – November 2025
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10-min Break 25
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26 Methanex Investor Day November 2025 Leveraging Global Capabilities: Driving Performance, Delivering Value Methanex Investor Day November 2025 Gustavo Parra | SVP , Manufacturing
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Manufacturing Excellence We are OnOne T eam, All Plants Good Governance Risk-based Approach Centre of Excellence Asset Excellence 27 Methanex Investor Day – November 2025 Responsible Care Strong Systems, Standards Through safe, reliable, and sustainable operations Translating excellence to value ✓ High reliability rates ✓ Optimal gas-to-methanol conversion ✓ Efficient spend of maintenance capital
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28 Methanex Investor Day – November 2025 • Process Engineering • Static Equipment • Rotating Equipment • Water Treatment • Instrumentation and Control • Operations • Maintenance • Technical • Turnaround • Procurement • Geismar, USA • Beaumont, USA • Medicine Hat, Canada • Punta Arenas, Chile Global Experts Global Functional Teams Site Management • Damietta, Egypt • New Plymouth, New Zealand • Point Lisas, Trinidad Global Manufacturing Team High-performing centre of excellence drives performance, delivers value Global Operational Capability – a Unique Differentiator
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29 Recordable injury rate vs. ACC industry benchmark Tier 1 process safety event rates Global reliability Global manufacturing capital spend Performance that Protects… … and Delivers 0.65 0.69 0.74 0.64 0.44 0.22 0.28 0.32 0.09 0.17 2020 2021 2022 2023 2024 2025 YTD ACC Member Companies Methanex 0.00 0.02 0.04 0.06 0.08 2020 2021 2022 2023 2024 2025 YTD ~150 Injuries per 200,000 hours worked Rate per 200,000 worker hours Methanex Investor Day – November 2025 97%96% 5-year Average Global Target $130M 5-year Average Forward Estimate $125 - 150M
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Manufacturing Excellence in Action: OCI Integration Methanex Investor Day – November 202530 First 90 days confirms due diligence findings; high quality assets that will benefit from our expertise 2025 2026 2027+ People & Culture Management Systems Risk Management Reliability & Capital Technology Transition Management Systems 100% Process fully implemented 97% Reliability Activ ity completed Activ ity planned Goal target Competency Assurance 100%Competency and professional developmentOnboarding High priorityResponsible Care Audit Medium priority Low priority Technical reviews, asset assurance Risk management processSite Risk Register Production Plan 3-year Capital Plan Reliability Framework alignment Capital plan optimization and execution Manufacturing applicationsCritical systems integration Systems Integration 100%
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Leveraging Global Capabilities – Manufacturing Methanex Investor Day – November 202531 KEY TAKEAWAYS FOR Safety is our top priority; a safe plant is a reliable plant. Strategy focused on achieving high reliability and efficiency across existing and new assets. Centre of excellence approach sets us apart, driving performance and delivering value.
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32 Methanex Investor Day November 2025 Methanex Investor Day November 2025 Karine Delbarre | SVP , Global Marketing & Logistics Leveraging Global Capabilities: Driving Performance, Delivering Value
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Methanex Investor Day – November 2025 Methanex, the Global Leader in Methanol Methanex Valenz (Proman) SABIC Petronas Mitsubishi Gas Koch Estimated 2025 market share ~19% Source: Methanex Flexible supply in volatile environment Reliable supply supported by excellence in execution Size and scale enable cost- effective presence in all major regions Unique position in the methanol market excluding China domestic market 33
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34 Methanex Investor Day – November 2025 Vessels 30 Leased terminals 25 Railcars ~1400 Production locations 7 Marketing offices 8 Delivery locations 400+ Our Competitive Advantage: Extensive Integrated Global Supply Chain
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35 Sales mix and delivery modes China ~15-20% The Americas ~35-40% Europe ~25-30% Asia Pacific ex China ~15-20% ✓ A balanced regional sales mix ✓ Unique scale and service model attract customers who are leaders in their industries ✓ Longstanding relationships: ~75% of sales to customers we have supplied for 10+ years 0 20 40 60 80 200 250 300 350 400 2017 2018 2019 2020 2021 2022 2023 2024 2025F MX ARP over China Spot (RHS) Methanex ARP (LHS) China Spot Price (LHS) Our Portfolio Creates Value for Shareholders Methanex ARP Relative to China Spot Price ($/MT; non-sanctioned) Methanex Investor Day – November 2025
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Methanex Investor Day – November 202536 KEY TAKEAWAYS FOR Integrated global supply chain enables a unique value proposition: secure, reliable supply. High flexibility in sourcing allows optimization of logistics costs and navigation of geopolitical risk. Our marketing strategy drives value. Leveraging Global Capabilities – Supply Chain & Marketing
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37 Methanex Investor Day November 2025 Focus on Free Cash Flow Conversion and a Strong Balance Sheet Methanex Investor Day November 2025 Dean Richardson | SVP , Finance & CFO
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91% 90% 93% 95% 95% 71% 72% 77% 84% 71% 2020 2021 2022 2023 2024 North America Rest of World 27% 49% 67%5% 26% 20% 67% 26% 12% 2015 2024 Run rate Challenging outlook Structurally positive outlook Abundant low- cost gas Production Shift to Advantaged Geographies Increases Stability Methanex Investor Day – November 202538 ~75% ~20% ~5% Run-rate at $350/MT ARP More stable run-rate Adjusted EBITDA % of total production Average on-stream time $1,075 M Challenging outlook Structurally positive outlook Abundant low-cost gas
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OCI acquisition: Delivering on the thesis 39 Methanex Investor Day – November 2025 OCI Acquisition: delivering on a transformational opportunity 39 Methanex Investor Day – November 2025 >20% increase in production capacity Mar – Sep ‘24 Sep ‘24 – June ‘25 July – Sep ‘25 Oct ’25 – Dec ‘26 2024 2025 2026 2027 Today Due Diligence Planning Day 1 to 90 Integration Complete Full Integration and Realize Synergies ✓ Safety and quality audits in progress ✓ High-priority manufacturing risk management reviews ✓ Executing M&L sourcing and terminal synergies ✓ Plants operated at capacity in Q3 Leveraging global capabilities
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2024 Adjustments to be comparable to run- rate G3 OCI Operational excellence & reliability Run-rate Potential upside Strategic Investments Increase Adjusted EBITDA Potential 40 Methanex Investor Day – November 2025 2024 to run-rate2 Adjusted EBITDA bridge ($M) at $350/MT methanol price $764 $1,075 >$1,075 1 Adjustments include net proceeds from New Zealand gas sales, $5/MT ARP adjustment to reach run -rate $350/MT price, and portfolio production adjustments including reduced rates in New Zealand and Trinidad. 2 Refer to slide 68 on non -GAAP measures for a definition of run -rate. 3 Potential upside considers higher operating rates in Chile, Egy pt, and Beaumont based on gas supply and other factors. 1 2 3
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Focused on Conversion of Strong Operational Performance to Adjusted Free Cash Flow Methanex Investor Day – November 202541 Adjusted Free cash flow conversion 1,2 (Including growth capex) (Excluding growth capex) ✓ Historic Adjusted free cash flow conversion strong despite significant growth capex ✓ Enhanced cash flow profile post G3 completion and OCI acquisition ✓ Potential for further upside with continued operational efficiencies and asset integrity management Peer Median: 24% Note: Data as of 10/31/2025 1 Adjusted Free Cash Flow Conversion = (Cash flow from operations, less repayment of lease obligations, less sustaining capex, less interest paid, less distributions to non -controlling interest p artners) / Adjusted EBITDA 2 Peers include Celanese, Dow, Eastman, Huntsman, LyondellBasell, Olin, Westlake; information based on publicly available infor mation. 3 Peers 1, 4 and 5 as of H1 2025 Significant upside post-G3 investment completion ($400/MT) ($350/MT) 60% Run-rate2021 – Q3 20253 50% 41% 19% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7
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2.5x 2.0x Upper end target Lower end target $300/MT $350/MT $400/MT 42 “Through the cycle” Leverage metrics Leverage target in-line with commodity chemical peers2 <2.0x <2.0x 2.0-2.5x <2.5x 2.5x 2.0-2.5x Peer 5 Peer 4 Peer 3 Peer 2 Peer 1 Committed to an Investment Grade Credit Profile and Strong Balance Sheet Target range 4.0x ✓ Reducing our Leverage1 target to 2 - 2.5x at $350/MT ARP which is in-line with peers and investment grade metrics. ✓ In addition, we plan for stress methanol price periods below $300/MT and target a sustainable low-cost structure and continued access to liquidity 2 Peers include investment grade rated Dow, Eastman, Huntsman, LyondellBasell, Olin Methanex Investor Day – November 2025 Financial flexibility protects value through the cycle and enables disciplined capital allocation 1 Refer to slide 68 for a definition. 2 Peers include investment grade rated Dow, Eastman, Huntsman, LyondellBasell, Olin
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Focus on Free Cash Flow Conversion and a Strong Balance Sheet Methanex Investor Day – November 202543 Portfolio transformation and operational excellence drives higher and more resilient cash flows. Committed to a strong balance sheet targeting ~2.0x – 2.5x Leverage at $350/MT with financial flexibility through the cycle. Focused on directing free cash flow to deleveraging in the near-term. KEY TAKEAWAYS FOR
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44 Methanex Investor Day November 2025 Methanex Investor Day November 2025 Disciplined Capital Allocation to Drive Shareholder Value Rich Sumner | President & CEO
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0 100 200 300 400 500 0 200 400 600 800 1000 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025F Dividends (LHS) Share buybacks (LHS) Organic growth (LHS) Inorganic growth (LHS) Average realized price (RHS) $0.7 B $1.2 B $1.3 B $2.1 B 13% 23% 25% 40% 45 $5.3B in 10 years History of Supporting Growth While Returning Capital Methanex Investor Day – November 2025 Annual allocation of capital110-year allocation of capital1 $M $/MT 1 Reflects discretionary spending after sustaining capex and fulfilling debt obligations 2,100
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58 87 125 2015 2020 Run-rate Disciplined Capital Allocation has Increased Production per Share Methanex Investor Day – November 202546 Production per share (MT per 1,000 common shares outstanding) 1 Decreased share count (14%) Increased production 185% 1 Based on common shares outstanding at September 30, 2025. Refer to slide 68 on non -GAAP measures for a definition of run -rate. Since 2015
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Unlocking Value and Flexibility Through Deleveraging 47 Methanex Investor Day – November 2025 100% of free cash flow directed to debt Debt paydown Available for shareholder distributions and/or high -value growth investments >3x Current Leverage <3x Initial Deleveraging Target 2 - 2.5x Target Leverage 100% of Adjusted free cash flow1 directed towards debt repayment to reach initial deleveraging target. Majority towards debt repayment to reach target range, while maintaining flexibility for some shareholder distributions and/or high - return growth investments. Once within target range, pursue a disciplined capital allocation framework among debt repayment, shareholder distributions and high - return growth investments. Indicative capital allocation mix as Methanex deleverages 1 Adjusted Free Cash Flow = Cash flow from operating activ ities, less repayment of lease obligations, less sustaining capex, le ss interest paid, less distributions to non -controlling interest partners 100% Adjusted free cash flow
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Disciplined Approach to Deploying Free Cash Flow 48 After satisfying core requirements & deleveraging… Growth Strategic investments in value-creating growth opportunities and low carbon solutions Shareholder Distributions Executed opportunistically when share price reflects a superior long-term return T arget highest return Core Business Requirements Strong Balance Sheet • Sustaining capex • Interest & lease payments • Regular Dividend • Minimum cash balance • Investment grade credit quality • Target 2.0-2.5x Leverage … disciplined allocation of free cash flow Methanex Investor Day – November 2025
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12% 5% (39%) (42%) S&P 500 Chemicals Peers¹ S&P Composite 1500 Commodity Chemicals Index 2% (13%) (48%) (46%) Strong Adjusted Free Cash Flow Supports Attractive Yield 49 Total shareholder return (1-3 year)1 Note: Data as of Oct. 31, 2025. 1 Peers include Celanese, Dow, Eastman, Huntsman, LyondellBasell, Olin, Westlak e. 2 Adjusted Free Cash Flow Yield = (Cash flow from operating activities, less repay ment of lease obligations, less sustaining ca pex, less interest paid, less distributions to non -controlling interest partners) / market capitalization 2026 consensus Adjusted Free Cash Flow yield1,2 Peer Median: 9% Primary drivers of valuation gap ✓ Methanol markets and macro risk ✓ Asset performance including G3 and newly acquired assets ✓ Leverage and balance sheet (Run-rate @ $350/MT) (2%) 0% 4% 9% 10% 13% 13% 18% 20% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 (1-year) (3-year)
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Disciplined Capital Allocation to Drive Shareholder Value Methanex Investor Day – November 202550 KEY TAKEAWAYS FOR Committed to a strong balance sheet and deleveraging towards our target range. Disciplined capital allocation strategy focused on balancing shareholder distributions and high-return growth investments. Strong Adjusted free cash flow with incremental valuation upside.
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51 Methanex Investor Day November 2025 Final Takeaways Rich Sumner | President & CEO
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Turning the Corner from Investment to Impact High-graded asset portfolio, underpinned by North America natural gas 52 Methanex Investor Day – November 2025 TRANSFORMING WITH PURPOSE METHANOL: A QUIETLY CONSTRUCTIVE MARKET LEVERAGING GLOBAL CAPABILITIES DISCIPLINED CAPITAL ALLOCATION Operational excellence across manufacturing and supply chain Structurally tight methanol market Committed to a strong balance sheet, strong shareholder distributions and high-value investments Proactive management to drive free cash flow and deleveraging FOCUS ON FREE CASH FLOW CONVERSION
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10-min Break 53
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Q + A 54
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55 Methanex Investor Day November 2025 Methanex Investor Day November 2025 Driving Excellence: Manufacturing Priorities & Performance Gustavo Parra| SVP , Manufacturing Paul Daoust | VP , Projects & Turnarounds Matthew Geary | VP , Reliability & Asset Integrity
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Methanex Investor Day – November 202556 Gustavo Parra SVP, Manufacturing __________ Responsible for enhancing reliability, asset utilization, and safety across global manufacturing sites. __________ 37 years at Methanex with extensive experience in strategic roles across global manufacturing sites, including leading G1 & G2 relocation projects. Paul Daoust VP , Projects & T urnarounds __________ Ensures we invest wisely and maintain operational readiness across our global footprint. __________ 25 years at Methanex in progressively senior roles in Corporate Development, Global Marketing & Logistics, Manufacturing, and Projects & Turnarounds. Matthew Geary VP , Reliability & Asset Integrity __________ Leads efforts in predictive maintenance, integrity assurance, and our reliability framework. __________ 17 years at Methanex with proven experience in advancing plant reliability, leading the Global Expert Team, and maintaining the integrity and performance of our assets.
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Capital and Turnaround Management Methanex Investor Day – November 202557
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Reliability Leadership and Culture Reliability Management Asset Condition Management Work Execution Management Human Factors Integration These elements are driven forward through each of us demonstrating strong reliable behaviours in everything we do. Strategies and processes that manage and improve reliability. Monitoring and maintaining assets to ensure optimal performance. Efficient and effective execution of maintenance and operational tasks. Incorporating human behaviours and capabilities in designing reliable systems. Provides vision, establishes framework, sets expectations. Approach to Reliability Methanex Investor Day – November 202558
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Q + A 59
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60 Methanex Investor Day November 2025 Methanex Investor Day November 2025 Positioning for the Future Mark Allard | SVP , Low Carbon Solutions Renato Monteiro | VP , Low Carbon Methanol Supply Roger Strevens| Director, Low Carbon Regulation & Advocacy
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Methanex Investor Day – November 202561 Mark Allard SVP, Low Carbon Solutions __________ Provides strategic leadership to our Low Carbon Solutions function to drive profitable growth of this emerging business opportunity __________ Over 25 years at Methanex with extensive experience across regions in various manufacturing, marketing, and head office roles Renato Monteiro VP , Low Carbon Methanol Supply __________ Leads the development of a diversified portfolio of low carbon supply opportunities to meet customer needs __________ 25 years experience in strategy & corporate development 8 years at Methanex Roger Strevens Director, Low Carbon Regulations & Advocacy __________ Identifies key regulatory needs and solutions, builds advocacy alliances, and promotes favorable regulatory outcomes for low carbon methanol. __________ 15 years experience in marine industry with focus on regulatory affairs and decarbonization 1 year at Methanex
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Developing National and regional regulation drive demand now, but may be overtaken by global regulation Regulation Driving Low Carbon Methanol (LCM) Demand 62 Ca. x8 GHG of EU Energy equiv. >500mta Fuel EU Maritime Intensifying & pending review EU Emissions Trading System Intensifying Regulates the supplier Methanex Investor Day – November 2025 IN EFFECT / PENDING EU Emission Trading System II Takes effect from 2027 Renewable Energy Directive (RED III) Undergoing implementation Net Zero Framework Adoption adjourned Carbon Intensity Indicator Under review DEVELOPING 2023 GHG Strategy Specifies the ‘How’ - Regulates the consumerDefines the ‘What’ Ca. x8 GHG of EU Energy equiv. >500mta Fuel EU Maritime Intensifying & pending review EU Emissions Trading System Intensifying Regulates the consumer Regulates the supplier Renewable Transport Fuel Obligation Intensifying EU Emission Trading System II Takes effect from 2027 Renewable Energy Directive (RED III) Undergoing implementation Renewable Transport Fuel Obligation Intensifying Regulates the consumer 2023 GHG Strategy Regulates the consumer Defines the ‘What’ Specifies the ‘How’ Net Zero Framework Adoption adjourned Carbon Intensity Indicator Under review In effect /pending
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LCM opportunities in many segments – road transport largest today but maritime is the biggest opportunity Low Carbon Methanol Potential Demand – 2030+ 63 Maritime* Millions of tonnes/year >100 >400 Maximum Potential Demand ~12 Mta 2025 2030 Road transport UK/EU* Hundreds of thousands tonnes/year Chemical** T ens of thousands tonnes/year Methanex Investor Day – November 2025 Source: DNV * Regulated ** Voluntary Dual fueled Methanol vessels
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T argeting sustainable competitive advantage, as “one stop shop” LCM Supply Strategy 64 • IMO dependent • Cost-effective LCM product • Builds upon NA assets • Advocacy forMedicine Hat CCUS product Blue Methanol Green Methanol • Only LCM product accepted by EU • RNG-based production in US • Strongest economicsin China and in emerging markets • Offtakes initially • Evaluating new pathways • Low CO2 abatement costs, diversified supply portfolio • Staged approach with limited capital exposure • Alliances with complementary skills Methanex Investor Day – November 2025
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Q + A 65
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OCI acquisition: Delivering on the thesis 66 Methanex Investor Day – November 2025 Year End Reporting Timelines 2025 and 2026 66 Methanex Investor Day – November 2025 Aligning our Earnings Release with the Annual Filing 2026 2027 2025 Year-End Earnings and Annual Report Fiscal 2025 Reporting is a transitional year Annual Report filed on March 5, 2026 Year-End Earnings Release (inclusive of Q4) on the same date Earnings Call on March 6, 2026 2026 Year-End Earnings and Annual Report Fiscal 2026 Reporting will be earlier Annual Report filed in mid-February Year-End Earnings Release on same date in mid-February Earnings Call one day after filings This will be the new timeline going forward
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Turning the Corner from Investment to Impact High-graded asset portfolio, underpinned by North America natural gas 67 Methanex Investor Day – November 2025 TRANSFORMING WITH PURPOSE METHANOL: A QUIETLY CONSTRUCTIVE MARKET LEVERAGING GLOBAL CAPABILITIES DISCIPLINED CAPITAL ALLOCATION Operational excellence across manufacturing and supply chain Structurally tight methanol market Committed to a strong balance sheet, strong shareholder distributions and high-value investments Proactive management to drive free cash flow and deleveraging FOCUS ON FREE CASH FLOW CONVERSION
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Non-GAAP Measures • Note that Adjusted EBITDA, Adjusted free cash flow , Adjusted debt, and Leverage are non-GAAP measures that do not have any standardized meaning prescribed by GAAP and therefore, are unlikely to be comparable to similar measures presented by other companies. • For description and historical Adjusted EBITDA and Adjusted debt, refer to Additional Information - Non-GAAP Measures in the Company’s 2024 Annual MD&A and in the Company’s MD&A for the period ended September 30, 2025. • Adjusted free cash flow, both historical and forward-looking, is useful as it provides a measure of our cashflow generation capability and differs from the most comparable GAAP measure, Cashflow from operating activities, as it is adjusted to deduct Repayments of lease obligations, sustaining capex (represented on the face of the cash flow statement by the Property, Plant and Equipment line under the Cashflow used in investing activities), Interest paid, and Distributions to non -controlling interests. • Methanex Run Rate Adjusted EBITDA and Adjusted free cash flow reflects Methanex’s proportionate ownership interest. Methanex run -rate production is based on a normalized supply chain and plants operating at full capacity except for plants which are experiencing gas supply shortages in which case a near term estimate on production is provided by management. Run rate production is 9.6MMT (inclusive of ammonia). Adjusted EBITDA also includes ammonia contribution of ~$30M at a $375/MT ammonia ARP and includes of $30M in synergies. • The unhedged portion of our North American natural gas requirements are purchased under contracts at spot prices. Estimates assume Henry Hub natural gas price of ~$3.50/mmbtu based on near-term forward curve. Gas contracts outside of North America are methanol sharing contracts with a base price for natural gas plus sharing as methanol prices increase. • Leverage is defined as Adjusted debt divided by Adjusted EBITDA. $550M of debt repayment is assumed to reach post-deleveraged balance sheet. • Adjusted debt is useful as it helps the company monitor its near-term capital allocation priority to direct excess cash to de -lever the balance sheet. It differs from the most comparable GAAP measure, Long-term Debt and Lease Obligations, as it excludes long-term debt and lease obligations attributable to the non -controlling shareholders' interests in entities we control but do not fully own and includes an amount representing our 63.1% share of the Atlas facility and 50% share of the Natgasoline facility. 68 Methanex Investor Day – November 2025
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Forward-looking statements More particularly and without limitation, any statements regarding the following are forward-looking statements: • The expected benefits of the OCI Acquisition, including benefits related to expected synergies and commodity diversification, • anticipated s ynergies and Methanex’s ability to achieve s uch synergies following clos ing of the OCI Acquisition, • expected demand for methanol, including demand for methanol energy us es, and its derivatives, • expected new methanol supply or restart of idled capacity and timing for start -up of the same, • expected increase in methanol production of assets to be acquired as a part of the OCI Acquis ition, • 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 and production at our plants, • expected operating cos ts, including natural gas feedstock costs and logis tics costs, • expected tax rates or resolutions to tax disputes, • 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, • our shareholder distribution strategy and expected dis tributions to shareholders, • commercial viability and timing of, or our ability to execute future projects, plant restarts, capacity expansions, plant relocations or other bus iness initiatives or opportunities, • our financial strength, debt reduction and deleveraging plans, and ability to meet future financial commitments, • expected global or regional economic activity (including industrial production levels) and gros s domestic product growth, • potential impacts of tariffs on global economic activity and Methanex, • expected outcomes of litigation or other disputes, claims and assess ments, and • expected actions of governments, governmental agencies, gas s uppliers, courts, tribunals or other third parties. Having in mind these and other factors, inves tors and other readers are cautioned not to place undue reliance on forward -looking statements. They are not a s ubstitute for the exercise of one’s own due diligence and judgment. T he outcomes implied by forward-looking s tatements may not occur and we do not undertake to update forward -looking s tatements except as required by applicable securities laws . Howe ver, forward-looking statements, by their nature, involve risks and unce rtainties that could cause actual results to differ materially from those contemplated by the forward- looking statements. T he risks and unce rtainties primarily include those atte ndant with producing and marketing me thanol and successfully carrying out major capital expe nditure projects in various jurisdictions, including, without limitation: • Unforeseen difficulties in integrating the business operations or as sets purchased pursuant to the OCI Acquisition into our bus iness and operations, • failure to realize the expected strategic, financial and other benefits of the OCI Acquisition in the timeframe anticipated or at all, • unexpected cos ts or liabilities associated with the OCI Acquisition, • increased litigation or negative public perception as a result of the OCI Acquisition, • increased indebtedness of Methanex, • 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 sys tems that may prevent delivery of our natural gas supply requirements, • 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, and • other ris ks described in our 2024 Annual Management’s Discussion and Analysis and this Third Quarter 2025 Management’s Discussion and Analysis. We be lieve that we have a reasonable basis for making such forward-looking statements. The forward-looking statements in this document are base d on our experience , our perception of trends, curre nt conditions and e xpected future developments as well as othe r factors. Ce rtain material factors or assumptions we re 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: • Methanex’s ability to realize the expected strategic, financial and other benefits of the OCI methanol acquisition in the timeframe anticipated or at all, • the supply of, demand for and price of methanol, methanol derivatives, natural gas, coal, oil and oil derivatives , • the supply of, demand for and price of ammonia, • our ability to procure natural gas feedstock on commercially acceptable terms, • operating rates of and production at our facilities, • receipt or is suance 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, • our ability to sustain the designed operating rates of the Geis mar 3 plant, • global and regional economic activity (including industrial production levels) and gros s domestic product 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. This presentation, our Third Quarter 2025 Management’s Discus sion and Analysis ("MD&A") as well as comments made during the Third Quarter 2025 investor conference call contain forward -looking s tatements 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 for ward-looking s tatements. 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 s tatements. 69 Methanex Investor Day – November 2025