Investor Presentation Clear, Consistent Strategy and Proven Results - PowerPoint PPT Presentation

Methanex Corporation Investor Presentation Clear, Consistent Strategy and Proven Results March 2019

Forward looking statements and non-GAAP measures Information contained in these materials or presented orally, either in prepared remarks or in response to questions, contains forward-looking statements. Actual results could differ materially from those contemplated by the forward-looking statements. For more information, we direct you to our 2018 Annual MD&A and our fourth quarter 2018 MD&A, as well as slide 36 of this presentation. This presentation also contains certain non-GAAP financial measures that do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. For more information regarding these non-GAAP measures, please see our 2018 Annual MD&A, our fourth quarter 2018 MD&A and slide 36 of this presentation. All figures are in US dollars unless otherwise specified. 2

Strategy: to be the global market leader Com Competi titi tive adv advantage as as the the • Global methanol leader with plants well positioned on cost curve to be global meth thanol lea eader competitive through all points in the methanol price cycle Pos ositi tive lon ong-term rm • Strong demand growth outlook with industry capacity additions ind ndustry try outl outlook required to meet growing demand Demonstrated com De ommitm tment to o • Have outperformed benchmark indices and have returned $1.7 billion deli deliveri ring sha hareholder r retur turns to shareholders through dividends and buy-backs since 2013 Commitment Com t to o pru prudent t • Have successfully executed value-add growth projects while financial management maintaining balance sheet strength and flexibility Demonstrated abi De ability ty to o execute • Execution of capital projects has more than doubled production per lar large, com omplex cap apital pr projects ts share, resulting in a step change in cashflow generation capability Signifi Si ficantl tly adv advantaged growth th • Opportunity to build G3 at advantaged CAPEX and OPEX vs. greenfield opport opp rtunity at t Gei eismar r 3 projects leveraging recent knowledge and experience with G1/G2 • High quality Board with deep industry expertise and leading Be Best-in in-class governance governance practices recognized by independent third parties 3

Consistently outperforming the peer group 10 Yea ear Since Ja Sin Jan. 1, 2013 3 Year ear 945% 76% 92% 84% 37% 313% Source: Bloomberg as of March 15, 2019 Note: Total returns shown assume that dividends are reinvested in shares Peer group defined as S&P 500 Chemicals Industry Group GICS Level 3 Index 4

Growing production with a clear focus on shareholders Prod oductio ion inc ncreased by y 77% Di Divid idends inc ncreased by y 81% Sh Share cou ount red educed by y 18% 1.32 8,400 1.18 94.3 96.1 92.3 89.7 1.08 1.10 Annualized dividend per share ($ per share) 7,017 7,187 7,211 89.8 83.8 0.95 77.3 Shares outstanding (millions) Production (000 tonnes) 0.79 4,853 5,193 0.73 4,071 4,344 2012 2013 2014 2015 2016 2017 2018 2012 2013 2014 2015 2016 2017 2018 Curr. 2012 2013 2014 2015 2016 2017 2018 As at Dec. 31 Poten. 5

Best-in-class governance

Best-in-class corporate governance Corporate Governance Director Com Dir Compensation  11 of 12 Independent Directors  Required director equity ownership  Separate chair and CEO of 3x total annual retainer  All Committee members are independent  Prohibition on hedging  Strong risk and strategy oversight  Not eligible for stock options  Diversity policy; ~33% women on Board  Active Board renewal process  Annual Board, Committee and director evaluations  Board orientation and education Shareholder Righ Sha Rights  Code of business conduct  Annual election of directors  In camera sessions at every Board and  Individual director elections Committee meeting  Director majority voting policy  Diverse skills matrix including oil and gas and  Annual “Say -on- Pay” chemical industry experience, former CEOs, finance, capital projects, health and safety, government and public affairs 7

Third-party recognition of leading corporate governance practices ISS SS Quali ualityScor ore Glob Globe and and Mai Mail CCGG CC GG 87% 87% ISS Data (1 = Highest Ranking, 10 = Lowest Ranking) • In 2015, Methanex received Share- Audit & 2018 Board Games the Governance Gavel Award Quality Board Compen- holder Risk Score Structure sation Rights Oversight for Best Disclosure of Board • Methanex’s governance Governance Practices and ranked in the top 20% in the 3 3 4 3 2 Director Qualifications from Globe and Mail’s the Canadian Coalition of comprehensive ranking of 237 Good Governance Canadian Boards for 2018 91% 91% 80% 80% 96% 96% 100% 00% Board Shareholding Shareholder Disclosure 8 composition and rights compensation

Best-in-class breadth of skills among Board members Curre rrent nt Leade ders rship hip 1 Indus ustry try Financ nce Gov’t and Board rd Health He th, Inte ter- Energ rgy Un Under- China na Amb mbiti tious us Amb mbiti tious us Dire rectors rs knowledg dge public experie rienc nce safety and nationa nal stand nding ng of busine ness busine ness and affairs rs enviro ron- perspe pectiv tive North No th growth - growth - experie rienc nce ment me t Ame meri rica larg rge capita tal stra rate tegies & & ues 2 issue natura ural gas projects ts risks feeds dsto tock execut ution issues Aitken Arnell Balloch Bertram Cook Hamilton 3 Howe Kostelnik Rennie Walker Warmbold Tota otal l 6 7 5 4 9 3 6 5 6 2 5 7 Target 4 6 2 2 7 1 5 2-3 3-4 1-2 1 2-1 1 Previous/current CEO of a mid to large cap ($500+ million) public company (or equivalent size private company or group) 9 2 Direct responsibility over large-scale process plant including Health, Safety and Environment 3 Not standing for re-election the next Annual General Meeting

Rigorous investment decision process • Board and Management undertakes a rigorous and disciplined approach to every major investment decision • Focus is on creating shareholder value with appropriate risk assessments • Financial discipline, conservatism and flexibility are cornerstones • Decisions must support the established long term strategy • Board of Directors provides detailed oversight • Board quality, diversity and breadth of expertise challenges the assumptions 10

M&G’s one and only goal: Divest • Following 2 years of engagement, M&G is advancing a self-interested, short-term agenda × Artificial premise on Geismar 3 designed to hide short-term motive × Singular focus on di divestin ing not investin ing in Methanex’s growth × Not aligned with shareholders × Unqualified and non-additive director nominees • M&G’s has a flawed premise: that pursuing high-quality, profitable growth opportunities and returning capital to shareholders are mutually exclusive. Th They ar are no not. t. • M&G’s ownership position has decreased roughly 27% from their peak position • M&G has been pr pressurin ing Me Methanex into o a a sing ngle le-focus str trategy of repurchasing shares and minimizing cash balances 11

M&G’s director nominees are not qualified • None of the dissident nominees possess experience in the chemicals industry • The skills possessed by the dissident nominees are already present on the current Board × Lacks direct or significant chemicals experience Lawrence Cunningham × Current board experience is not relevant to chemicals industry × No public company NEO experience Paul Dobson × Lacks direct or significant outside chemicals experience × No public company directorships × Lacks direct or significant chemicals experience Patrice Merrin × Negative TSR during her directorships and NEO roles × Skillset overlaps with several incumbent directors × Lacks direct or significant chemicals experience Kevin Rodgers × No public company directorships or NEO experience × Skillset overlaps with several incumbent directors 12

Competitive advantage, positive long-term industry outlook

Industry leadership is core to strategy and track record • Scale and flexibility to meet customer needs creates Methanex is is the mar arket lea leader shareholder value 15%  Strong customers that are leaders in their industry Estimated industry market share  Ability to reduce costs for customers and Methanex 10%  Improved industry structure: new market development, product stewardship and advocacy 5% • We continually enhance this key value driver by growing our production as the market grows 0%  ~14% global market share – double that of our next Methanex SCC/Helm/MHTL Sabic Zagros (Iran) Yankuang OCI Petronas MGC Mitsubishi (MSK) competitor  Unique global position as the only supplier with well- established production and sales in all major regions Source: Methanex 14