Methanex (MEOH) Announces 10% Share Repurchase Program

Methanex Corporation (NASDAQ: MEOH) announced today that its Board of Directors has approved a Normal Course Issuer Bid (“NCIB”) whereby the Company will purchase for cancellation up to 6,590,095 common shares ("Shares"), representing 10% of the public float at the time of the announcement of the NCIB and the maximum number of Shares that may be purchased under the NCIB. Purchases under the NCIB will commence on March 13, 2018 and end no later than March 12, 2019. Purchases will be made from time to time at the then current market price of the Shares and all Shares purchased will be cancelled.

John Floren, President and CEO of Methanex commented, “Our announcement of a new share repurchase program builds on a long track record of returning excess cash to shareholders. As we continue to achieve excellent production and sales results, we have the capacity to generate strong cash flows at a range of methanol prices. With a solid liquidity position and strong balance sheet, we have the financial strength and flexibility to meet all of our financial and capital commitments, pursue our near-term growth opportunities in Chile and deliver on our commitment to return excess cash to shareholders.”

Under the NCIB, up to 4,189,185 Shares, representing 5% of the 83,783,704 Shares issued and outstanding at the time of the announcement of the NCIB, will be purchased on the open market through the facilities of the NASDAQ Global Select Market (“NASDAQ”) and alternative trading systems in the United States pursuant to Rule 10b-18 under the U.S. Securities Exchange Act of 1934. The remaining Shares under the NCIB will be purchased on the open market through the facilities of the Toronto Stock Exchange (the “TSX”).

Subject to certain exceptions for block purchases, daily repurchases under the program through the NASDAQ and alternative trading systems in the United States will not exceed 25 percent of the Company’s average daily trading volume for the four week period preceding the date of purchase. Subject to certain exceptions for block purchases, daily repurchases under the program through the TSX will not exceed 86,316, representing 25 percent of the Company’s average daily trading volume on the TSX for the six month period ended on February 28, 2018. The Company has entered into an automatic securities purchase plan with its broker in connection with purchases to be made under this program. Under the NCIB initiated by the Company on March 13, 2017 and expiring on March 12, 2018, the Company has repurchased for cancellation 6,152,358 Shares at a weighted average price of US$46.50.

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". Methanex can be visited online at www.methanex.com

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