Methanex (MEOH) Announces 5% 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 3,863,298 common shares ("Shares"), representing approximately 5% of the 77,265,973 Shares issued and outstanding as of March 8, 2019. Purchases under the NCIB will commence on March 18, 2019 and end no later than March 17, 2020. 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.

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. The improvements we have made in our business enable us to generate strong earnings and cash flow at a wide 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 commitments, pursue our growth opportunities and deliver on our commitment to return excess cash to shareholders.”

Purchases pursuant to the NCIB will be made 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. 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% of the Company’s average daily trading volume for the four week period preceding the date of purchase. The Company has entered into an automatic securities purchase plan with its broker in connection with purchases to be made under the program.

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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