Methanex Reports Third Quarter 2025 Results

Except where otherwise noted, all currency amounts are stated in United States dollars.

Financial and Production Highlights

VANCOUVER, British Columbia, Oct. 29, 2025 (GLOBE NEWSWIRE) -- For the third quarter of 2025, Methanex (TSX:MX) (NASDAQ:MEOH) reported net loss attributable to Methanex shareholders of $7 million ($0.09 net loss per common share on a diluted basis) compared to net income of $64 million ($0.93 net income per common share on a diluted basis) in the second quarter of 2025. Adjusted EBITDA for the third quarter of 2025 was $191 million and Adjusted net income was $5 million ($0.06 Adjusted net income per common share). This compares with Adjusted EBITDA of $183 million and Adjusted net income of $66 million ($0.97 Adjusted net income per common share) for the second quarter of 2025.

Rich Sumner, President & CEO of Methanex, said, "This quarter marked a significant milestone as we successfully completed the first full quarter of operations at our newly acquired Beaumont plant and joint venture Natgasoline. Both facilities have been operating safely and reliably since the acquisition and the integration of the new operations into our business is progressing well and according to plan. We are focused on the reliable and cost efficient operation of our assets and supply chain to navigate the current macro uncertainty and create long-term value for shareholders."

FURTHER INFORMATION

The information set forth in this news release summarizes Methanex's key financial and operational data for the third quarter of 2025. It is not a complete source of information for readers and is not in any way a substitute for reading the third quarter 2025 Management’s Discussion and Analysis ("MD&A") dated October 29, 2025 and the unaudited condensed consolidated interim financial statements for the period ended September 30, 2025, both of which are available from the Investor Relations section of our website at www.methanex.com. The MD&A and the unaudited condensed consolidated interim financial statements for the period ended September 30, 2025 are also available on the Canadian Securities Administrators' SEDAR+ website at www.sedarplus.ca and on the United States Securities and Exchange Commission's EDGAR website at www.sec.gov.

FINANCIAL AND OPERATIONAL DATA

PRODUCTION HIGHLIGHTS

Key production and operational highlights during the third quarter include:

United States

Geismar produced 931,000 tonnes in the third quarter of 2025 compared to 829,000 tonnes in the second quarter of 2025. Production was higher in the third quarter as all Geismar plants were running from early July onwards and the second quarter was impacted by an unplanned outage.

Beaumont produced 239,000 tonnes of methanol and 88,000 tonnes of ammonia in the third quarter compared to 11,000 tonnes of methanol and 4,000 tonnes of ammonia in the four days of operation in the second quarter. The Natgasoline plant produced 222,000 tonnes of methanol (Methanex share) in the third quarter compared to 10,000 tonnes of methanol (Methanex share) in the four days of operation in the second quarter. Both plants have been operating safely and at high rates since acquisition.

Chile

Chile produced 224,000 tonnes in the third quarter of 2025 compared to 295,000 tonnes in the second quarter of 2025. Third quarter production was lower than the second quarter primarily due to the seasonal reduction in gas supply from Argentina during the Southern Hemisphere winter. The Chile I plant operated at full rates for the whole quarter for the first time in more than ten years. Chile IV successfully completed a planned turnaround during the quarter and returned to operations at the start of October with increased gas availability from Argentina, which we believe will allow both plants to operate at full rates through to April 2026. We have gas contracts in place with Chilean and Argentinean gas producers until 2030 and 2027, respectively, which underpin approximately 55% of the site's gas requirements year-round. While seasonality in production is expected to continue, we are seeing generally positive developments in natural gas availability.

Trinidad

In Trinidad, the Titan plant produced 203,000 tonnes in the third quarter of 2025 compared to the 216,000 tonnes in the second quarter of 2025.

New Zealand

New Zealand produced 123,000 tonnes in the third quarter of 2025 compared to 53,000 tonnes in the second quarter of 2025. Third quarter production increased compared to the second quarter with Motunui II operating for the full period. The plant restarted in early July after the completion of a short-term commercial agreement to redirect contracted natural gas to the New Zealand electricity market. Future production will be dependent on the performance of existing wells, future upstream development and any on-selling of gas into the electricity market to support New Zealand’s energy needs. Gas supply availability in New Zealand continues to be challenged and we continue to work with our gas suppliers and the government to sustain our operations in the country.

Egypt

Egypt produced 260,000 tonnes (Methanex interest - 130,000 tonnes) in the third quarter of 2025 compared to 248,000 tonnes (Methanex interest - 124,000 tonnes) in the second quarter of 2025. Gas availability in Egypt is influenced by several factors, including domestic production levels, gas imports and seasonal demand fluctuations. We are monitoring the gas market closely and may experience some curtailments, particularly in the summer months, depending on gas supply and demand dynamics. The plant returned to full rates at the start of September.

Canada

Medicine Hat produced 140,000 tonnes in the third quarter of 2025 compared to 83,000 tonnes in the second quarter of 2025. After completing a planned turnaround in the second quarter, the Medicine Hat facility has been operating at full rates.

Outlook

We expect our 2025 production, inclusive of our newly acquired assets, to be approximately 8.0 million tonnes (Methanex interest), of which 7.8 million tonnes are methanol and 0.2 million tonnes are ammonia. Actual production may vary by quarter based on gas availability, turnarounds, unplanned outages and unanticipated events.

In the fourth quarter of 2025, we expect meaningfully higher Adjusted EBITDA compared to the third quarter, with higher produced sales combined with a slightly lower average realized price. Based on our October and November posted prices we expect that our average realized price range will be approximately $335 to $345 per tonne for these two months.

CONFERENCE CALL

A conference call is scheduled for October 30, 2025 at 11:00 am ET (8:00 am PT) to review these third quarter results. To access the call, dial the conferencing operator fifteen minutes prior to the start of the call at (647) 932-3411, or toll free at (800) 715-9871. The conference ID for the call is #2019292. A simultaneous audio-only webcast of the conference call can be accessed from our website at www.methanex.com/investor-relations/events and will also be available following the call.

ABOUT METHANEX

Methanex is a Vancouver-based, publicly traded company and is the world’s largest producer and supplier of methanol to customers globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Market in the United States under the trading symbol "MEOH".

FORWARD-LOOKING INFORMATION WARNING

This third quarter 2025 press release contains forward-looking statements with respect to us and the chemical industry. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond the Company's control. Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Methanex does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law. Refer to Forward-Looking Information Warning in the third quarter 2025 Management's Discussion and Analysis for more information which is available from the Investor Relations section of our website at www.methanex.com, the Canadian Securities Administrators' SEDAR+ website at www.sedarplus.ca and on the United States Securities and Exchange Commission's EDGAR website at www.sec.gov.

NON-GAAP MEASURES

Throughout this document, the Company has used the terms Adjusted EBITDA, Adjusted net income, and Adjusted net income per common share. These items are non-GAAP measures and ratios that do not have any standardized meaning prescribed by GAAP. These measures represent the amounts that are attributable to Methanex Corporation shareholders and are calculated by excluding the mark-to-market impact of share-based compensation as a result of changes in our share price, the impact of the Egypt and New Zealand gas contract revaluation and the impact of certain items associated with specific identified events. Refer to Additional Information - Non-GAAP Measures on page 16 of the Company's MD&A for the period ended September 30, 2025 for reconciliations to the most comparable GAAP measures. Unless otherwise indicated, the financial information presented in this release is prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

For further information, contact:

Jessica Wood-Rupp

Director, Corporate Development and Investor Relations

Methanex Corporation

604-661-2600