Earnings ReportMETHANEX REPORTS HIGHER FOURTH QUARTER 2020 RESULTS • Average realized methanol price increased to $282 per tonne in the fourth quarter from $217 per tonne in the third quarter of 2020 • Continued improvement in global methanol demand, methanol industry supply outages and delayed start-up of new industry capacity additions supported higher methanol prices • Net loss attributable to Methanex shareholders of $27 million on Adjusted EBITDA of $136 million, reflecting a $96 million increase over the third quarter, demonstrating significant leverage to methanol price • Resilient business model and continued ability to deliver reliable methanol supply to customers around the world demonstrated throughout 2020 • Strong liquidity position - over $800 million in cash and a $300 million undrawn credit facility providing financial flexibility as the path to sustained global economic recovery remains uncertain VANCOUVER, BRITISH COLUMBIA - For the fourth quarter of 2020, Methanex (TSX:MX) (NASDAQ:MEOH) reported a net loss attributable to Methanex shareholders of $27 million ($0.35 net loss per common share on a diluted basis) compared to a net loss of $88 million ($1.15 net loss per common share on a diluted basis) in the third quarter of 2020. Adjusted EBITDA for the fourth quarter of 2020 was $136 million and Adjusted net income was $12 million ($0.15 Adjusted net income per common share). This compares with Adjusted EBITDA of $40 million and an Adjusted net loss of $79 million ($1.03 Adjusted net loss per common share) for the third quarter of 2020. For the year ended December 31, 2020, Methanex reported a net loss attributable to Methanex shareholders of $157 million ($2.06 net loss per common shares on a diluted basis), Adjusted EBITDA of $346 million and an Adjusted net loss of $123 million ($1.62 Adjusted net loss per common share). This compares with net income attributable to Methanex shareholders of $88 million ($1.01 net income per common share on a diluted basis), Adjusted EBITDA of $566 million and Adjusted net income of $71 million ($0.93 Adjusted net income per common share) for the year ended December 31, 2019. In the fourth quarter of 2020, continued improvement in global methanol demand, combined with various methanol industry supply outages and the delayed start-up of new industry capacity additions, led to tighter market conditions and lower global inventory levels. As a result, methanol prices increased by 30% in the fourth quarter, compared to the third quarter of 2020, resulting in higher Adjusted EBITDA. For the full year of 2020, the impact from the COVID-19 pandemic on the global economy and lower oil price environment resulted in a sharp decline in methanol demand and lower methanol prices in the second and third quarters, with some recovery in the fourth quarter, impacting our financial results in 2020 compared to 2019. John Floren, President and CEO of Methanex, commented, “I am extremely proud of the work that our team has done to deliver reliable methanol supply throughout the COVID-19 pandemic. Their performance underscores the tremendous agility and resilience of our people and business model and gives us confidence in our ability to continue to meet the demands of a very