MATERIAL CHANGE REPORT

FORM 51-102F3

1.NAME AND ADDRESS OF COMPANY

Methanex Corporation
1800 Waterfront Centre
200 Burrard Street
Vancouver, British Columbia V6C 3M1

2.DATE OF MATERIAL CHANGE

September 21, 2022

3.NEWS RELEASE

The news release announcing this material change was issued on September 21, 2022 in Canada and the United States.

4. SUMMARY OF MATERIAL CHANGE

Methanex Corporation (the "Company") announced on September 21, 2022 that the Toronto Stock Exchange (the "TSX") approved the Company's previously announced normal course issuer bid.

5. FULL DESCRIPTION OF MATERIAL CHANGE

5.1 FULL DESCRIPTION OF MATERIAL CHANGE

Methanex Corporation (the "Company") announced on September 21, 2022 that the Toronto Stock Exchange (the "TSX") has approved the previously announced normal course issuer bid ("NCIB").

Pursuant to the NCIB, the Company will purchase for cancellation up to 3,506,405 common shares ("Shares"), representing 5% of the 70,128,109 Shares issued and outstanding as of September 15, 2022. Purchases will be made on the open market through the facilities of the TSX and will commence on September 26, 2022 and end no later than September 25, 2023. Any 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. Subject to certain exceptions for block purchases, any daily purchases under the NCIB through the TSX will not exceed 54,902 Shares, representing 25% of the Company's average daily trading volume on the TSX for the six month period ended on August 31, 2022. The Company intends to enter into an automatic securities purchase plan with its broker in connection with purchases to be made under the NCIB.

5.2 DISCLOSURE FOR RESTRUCTURING TRANSACTIONS

Not applicable.



6. RELIANCE ON SUBSECTION 7.1(2) OF NATIONAL INSTRUMENT 51-102

Not applicable.

7. OMITTED INFORMATION

Not applicable.

8. EXECUTIVE OFFICER

For further information, contact:

Kevin Price
General Counsel & Corporate Secretary
604-661-2658

9. DATE OF REPORT

September 21, 2022




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Disclaimer

Methanex Corporation published this content on 22 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2022 10:09:09 UTC.