Methanex: 2025 Sustainability Report

2025

Sustainability

Report

‌2 Methanex 2025 Sustainability Report

Introduction //

Low-carbon solutions //

People and stewardship //

Environmental impacts //

Workforce and communities //

Responsible business //

Appendices

Table of contents

Managing our environmental impacts 44

Air quality 45

Water 46

Spills and releases 49

Waste 50

Letter from our President & CEO 3

2025 Highlights 5

Looking back:

Our 2025 sustainability scorecard 6

Looking forward:

Our sustainability targets 7

About our business 9

Our reporting approach 15

Advancing low-carbon solutions

and addressing GHG emissions 17

GHG emissions 18

Transition to a low-carbon economy 20

1. Reducing emissions from

   our operations 21

2. Progressing low-carbon solutions 23

3. Growing demand for methanol 25

Climate-related risks 29

Supporting our workforce

and communities 51

People practices 52

Inclusion 54

Communities 57

Conducting our business responsibly 60

Corporate governance 61

Governance for sustainability matters 62

Business ethics 65

Risk management 69

Cybersecurity 70

Appendices 72

Materiality assessment 73

Our sustainability ratings profile 75

Stakeholder engagement 76

Policies 77

Carbon-related legislation 79

Performance table 80

SASB index 84

GRI index 87

Climate disclosures index 89

Waterfront Shipping index 89

Forward-looking statements 90

Protecting people and

advancing stewardship 33

Employee and contractor safety 34

Process safety 38

Product stewardship 41

Methanex has been reporting on its sustainability efforts and performance since 2011.

‌3 Methanex 2025 Sustainability Report

Introduction //

Low-carbon solutions //

People and stewardship //

Environmental impacts //

Workforce and communities //

Responsible business //

Appendices

Letter from our President & CEO

I am pleased to share Methanex's 2025 Sustainability Report, celebrating the progress we have made across our company. This was an important year for Methanex in which we successfully integrated new team members and new operations, achieved outstanding safety results, met our GHG target, and continued to invest in the future of our company.

The OCI transaction offered a strategic opportunity for Methanex to acquire world-scale assets with access to abundant North American gas supply. We focused on safely integrating our new manufacturing sites and supply chain into our operations and welcoming approximately 250 new team members, many of whom I had the privilege of spending time with. As a result of everyone's hard work and collaboration, our new assets have run safely and reliably since acquisition. I am inspired by everyone's enthusiasm about our shared vision and culture of protecting people, assets, and the environment. These are our foundations for success.

I am extremely proud of our safety performance. Methanex had its best two-year safety performance, with 0.12 recordable injuries per 200,000 worked hours and

zero Tier 1 process safety incidents. These outstanding achievements are the result of our employees' and contractors' continued focus on strong planning, hazard awareness, and reliable behaviours. As an everyday reminder of the importance of safety, we also launched a global Life Saving Rules campaign, focusing on the most critical safety behaviours that help each team member return home safely at the end of the day.

Despite these successes, we remain steadfast in our commitment to avoid complacency and continue our relentless pursuit of zero harm.

Over the past several years, we have devoted considerable efforts to reducing our GHG emissions. I'm proud to share that we achieved our target to reduce our Scope 1 and 2 emissions intensity from our manufacturing facilities by 10 per cent-five years ahead of our goal. The key driver of this accomplishment was achieving full production from our G3 plant: With less than 0.3 tonnes of CO₂e

per tonne of methanol produced, G3 has one of the lowest emissions intensities of conventional methanol plants in the industry. Additional factors that helped us meet our target included our manufacturing asset mix, a focus on improving plant reliability, and emissions reduction projects. With this target now reached, we continue efforts to further reduce emissions and are working to develop a new GHG emission reduction target in 2026.

As a result of everyone's hard work and collaboration, our new assets have run safely and reliably since acquisition.

4 Methanex 2025 Sustainability Report

Introduction //

Low-carbon solutions //

People and stewardship //

Environmental impacts //

Workforce and communities //

Responsible business //

Appendices

We continue to invest in low-carbon solutions. As a result of the OCI transaction, Methanex is now one of the world's largest producers of low-carbon methanol. We continue to progress our Medicine Hat carbon capture project, in partnership with Entropy, targeting a FEED decision in 2026, and we also signed a long-term offtake agreement and a term sheet for an additional offtake

for biomethanol in 2025, contingent on the project investment decision. Regulations continue to drive interest and demand for low-carbon methanol, and we are well

None of our achievements would be possible without our dedicated team members.

positioned to meet customer demand.

In late 2025, the International Maritime Organization (IMO) deferred the vote on adoption of its Net-Zero Framework by one year. If passed, this framework will provide the regulatory certainty needed to encourage investment into low-carbon fuels and we will be monitoring developments closely in 2026. Decarbonization of the maritime industry has already begun: In 2025, there were more than 450 dual-fuel methanol vessels operating or on order across the industry. This year, Waterfront Shipping purchased and used waste-based biomethanol with a negative lifecycle GHG intensity to meet FuelEU maritime obligations. We're proving that low-carbon methanol remains an attractive and viable option to significantly reduce GHG emissions across the maritime sector.

None of our achievements would be possible without our dedicated team members. To better understand our employees' needs and experiences and to identify areas of improvement, we conducted a culture survey in 2025. Ninety-four per cent of our team responded to the survey and our scores across all areas surveyed improved compared to our 2023 survey. I am proud of the culture we have developed at Methanex-a culture that fosters this level of participation across our company and where everyone feels their voice matters.

We can only deliver on our goals with

the full participation of our global, diverse team, so it's important that we maintain a workplace where everyone has a chance to thrive and feels included, supported, and engaged. Throughout the year, our employee resource groups held several events focused on inclusion and learning. We also continued to train leaders on equitable recruitment practices and further embed these practices throughout our organization.

Our priorities for the upcoming year will be to maintain safe and reliable operations and focus on Responsible Care© as we further integrate our new team members and assets. I'm excited for the opportunities that lie ahead.

In closing, I'd like to thank our people for their commitment to excellence. Together, we're stronger and the future is bright.

President and Chief Executive Officer

‌5 Methanex 2025 Sustainability Report

Introduction //

Low-carbon solutions //

People and stewardship //

Environmental impacts //

Workforce and communities //

Responsible business //

Appendices

0

Tier 1 process safety incidents

2025 Highlights

0

lost-time injuries

0

significant (major or serious) environmental spills

10.7%

reduction in GHG intensity (tonnes of CO₂e per tonne of product) since 2019, meeting our 10 per cent reduction target five years early

~250

new employees welcomed to our team through the OCI acquisition completed in June 2025

We are proud to share some of our 2025 accomplishments, made possible by the hard work and collective effort of our team members.