Methanex : Sustainability Report Summary

Methanex Corporation

1800 Waterfront Centre

200 Burrard Street Vancouver, BC Canada V6C 3M1

General Inquiries [phone] (Toll-free in North America)

[phone] (Phone)

[phone] (Fax) [e-mail]

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M100

Asia	Middle East	Oceania
Beijing: [phone]	Egypt: [phone]	New Zealand: +64 6 754	9700
Shanghai: [phone]	United Arab Emirates: [phone]
Hong Kong: [phone]		South America
Japan: [phone]	North America	Trinidad & Tobago: [phone]
Korea: [phone]	Medicine Hat, Canada: [phone]	Punta Arenas, Chile: +56	61 271 2218
	Vancouver, Canada: [phone]	Santiago, Chile: [phone]
Europe	Dallas, USA: [phone]
Belgium: [phone]	Geismar, USA: [phone]

Methanex is the world's largest producer and supplier of methanol to major international markets in Asia Pacific, North America, Europe and South America. Headquartered in Vancouver, Canada, Methanex currently operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. The company's global operations are supported by an extensive global supply chain of terminals, storage facilities and the world's largest dedicated fleet of methanol ocean tankers. To learn more, visit us at www.methanex.com.

www.methanex.com

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METHANEX

POWERED BY METHANOL

2020 Sustainability Highlights

2020 SUSTAINABILITY HIGHLIGHTS

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About Methanex

Methanex is the world's largest producer and supplier of methanol to major international markets in Asia Pacific, North America, Europe and South America. Headquartered in Vancouver, Canada, we currently operate production sites in Canada, Chile, Egypt, New Zealand, Trinidad and Tobago, and the United States. Our global operations are supported by an extensive global supply chain of terminals, storage facilities and the world's largest dedicated fleet of methanol-fuelled ocean tankers.

At Methanex, we care deeply about the people and the environment in which we live, work and play. The well-being of our stakeholders is a key priority and we believe our business should have a positive impact on people's lives. In alignment with our commitment to the Responsible Care Ethic and Principles for Sustainability, a sustainability initiative recognized by the United Nations,

Societal Benefits of Methanol

Methanol is an essential ingredient of our day-to-day life. A clear, colourless, biodegradable liquid, methanol is used as a chemical building block to produce hundreds of everyday products that enhance our quality of life. Methanol is also an innovative, clean-burning energy solution. For more than 100 years, methanol has

been safely shipped, handled and used in a variety of applications around the world.

Essential chemistry for our quality of life

As society transitions to more sustainable products and practices, methanol and other chemicals can play an important role in supporting society's transition to a low-carbon, circular economy. For example, methanol is a chemical building block in materials used to construct and insulate our homes, making them more energy efficient and helping to reduce emissions. It's also used to produce solar panels and wind turbines, as well as plastic automotive components that help make cars lighter and more energy efficient, reducing their CO2 emissions.

A low-emission"future-proof" fuel

As a liquid fuel, methanol powers cars, buses, trucks and ships that transport people and goods around the world. Methanol is a cost-effective,clean-burning fuel that significantly reduces air emissions of sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matter produced by engine emissions, which can help improve local air quality compared to traditional fuels. Today, methanol is most commonly produced on a commercial scale from natural gas. As methanol can also be made from renewable sources, such as municipal waste, biomass and recycled carbon dioxide, it can provide a future pathway to renewables and support society's decarbonization goals. To learn more about how Methanex makes methanol from natural gas, our investments in renewable methanol and the alternative ways to produce methanol, see our full 2020 Sustainability Report.

we choose to act responsibly in everything we do and wherever we do business.

CHEMICAL END USES

Methanol is an essential chemical building block for other chemical derivatives

that go into hundreds of consumer and industrial products, including sustainable and high-tech products.

CONSTRUCTION MATERIALS

Methanol is used to make plywood and medium-density fibreboard (MDF) and is also an essential ingredient in sealants, paints and solvents.

MEDICAL EQUIPMENT

Methanol is used to make medical supplies such as masks and gloves that help keep front-line workers safe.

CLOTHING AND TEXTILES

Chemicals made with methanol can extend the durability and life of consumer products like fleece clothing and carpeting. New applications can also make these products more easily recyclable.

HIGH-TECH APPLICATIONS	AUTOMOTIVE MANUFACTURING
Methanol is used in technology that	Methanol is used in plastics that make
keeps us connected, like laptops	cars lighter and more fuel efficient to
and cellphones. It is also used in	reduce CO2 emissions. Examples include
applications that harness clean energy,	plastic body panels, dashboard foam and
such as solar panels and wind turbines.	plastic gears and mouldings.

CAR DOOR PANEL

PAINT

POWERED BY METHANOL

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ENERGY-RELATED END USES

1. clean-burningfuel, methanol can help improve local air quality by reducing emissions. As it can be made from renewable sources, methanol fuel can also help society achieve its decarbonization goals.

MARINE FUEL

As a clean-burning marine fuel, methanol significantly reduces emissions of SOx by 99%, NOx by 80%, particulate matter by 95% and CO2 from combustion by 15%.*

60%

of our fleet will use methanol dual-fuel technology by 2023

VEHICLE FUEL

Methanol is used to fuel cars, buses and trucks that transport people and goods. Methanol can also be used as a substitute for diesel in vehicles and trucks.

25,000

methanol fuel taxis are currently on the roads in China

HEATING FOR INDUSTRIAL & DOMESTIC APPLICATIONS Methanol is a clean-burningfuel that can help improve local air quality by reducing air emissions compared to traditional fuels such as diesel or coal. Methanol-fuelledboilers in China generate heat and steam for industrial applications, and methanol provides a heat source for commercial and residential applications like kilns and cooking stoves.

*Compared to Tier I vessels running on traditional marine fuel (heavy fuel oil).

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Care for the Environment

We strive to minimize our environmental impact through initiatives that reduce greenhouse gas and other air emissions; efficiently using resources such as natural gas, energy and water; and preventing spills and minimizing waste from our operations.

Our operations generate emissions both during the methanol production process and when we ship methanol to our customers worldwide through our Waterfront Shipping subsidiary. We are committed to playing an active role in society's transition to a low-carbon economy by seeking ways to improve our energy efficiency and lower the CO2 emissions from our operations. For details on our strategies for reducing CO2 emissions from our operations, see our full 2020 Sustainability Report. A few highlights from the year include:

• Obtaining International Sustainability and Carbon Certification for biomethanol production in the US, enabling sales to European customers under the Renewable Energy Directive II, which sets targets for energy from renewable sources. We achieved this certification by producing biomethanol at two of our Geismar plants using biomethane (renewable natural gas) from municipal solid waste and other sources.
• Commissioning eight new lower-emission, methanol dual-fuel vessels to add to the Waterfront Shipping fleet. From 2016 - when the first methanol-fuelled vessels joined the Waterfront Shipping fleet-to the end of 2020, Waterfront's use of methanol marine fuel has resulted in emissions reductions of approximately 23,000 MT
  (million tonnes) of CO2, 6,600 MT of NOx, 3,600 MT of SOx and 500 MT of particulate matter.
• Producing more than 59,000 tonnes of low-carbon methanol at our Medicine Hat plant (approximately 12 per cent of the plant's 2020
  production) by using captured CO2 from a neighbouring industrial facility that would otherwise be emitted to the atmosphere.

Safe Work

We care deeply about our people, communities and the environment in which we live, work and play. Our number one priority is making sure all of our team members go home safe, every day.

We are dedicated to providing safe workplaces for our team members and maintaining safe manufacturing processes to protect the environment and our surrounding communities. In 2020, we successfully completed turnarounds (major planned maintenance) at our plants in Trinidad

and Medicine Hat, a significant accomplishment given the challenging pandemic environment and a testament to the agility of our team.

Successful turnarounds in Medicine Hat and Trinidad during COVID-19

In October, our Medicine Hat team completed a turnaround that consisted of 44 projects (including installation of new low-NOx burners and upgrades to the reformer) over nearly 60 days, requiring approximately 1,300 work orders and almost 400,000 hours of work. In Trinidad, we completed our turnaround in November (with projects that included upgrades to the water heater and auto thermal reformer) over a 50-day period and requiring more than 750,000 hours of work.

We successfully completed these turnarounds - which required heightened safeguards and protocols due to COVID-19 - by working collaboratively with our contractors and partners as One Team.

Methanex facility in Medicine Hat, Alberta

Trinidad team members during Atlas Plant Turnaround

Product Safety

We are dedicated to minimizing risks during all phases of methanol transportation, distribution, storage and use.

We share methanol safe-handling knowledge with all stakeholders in our supply chain and beyond, including our customers and their downstream end-users, emergency responders, industry associations and governments. A highlight in 2020 included receiving a Grand Slam Award from the Association of American Railroads for our 2019 rail performance in North America for the fifth year in a row. The award recognizes our annual achievement of zero non- accidental releases while transporting, loading or unloading our methanol product.

People Practices

Our team members are our greatest asset and central to everything we do. We aim to attract and retain the best and the brightest, and our thriving global culture enables us to work together as One Team across functions, regions and disciplines.

We maintain our industry leadership position by continuously growing and developing our people through a unique combination of on-the-job learning experiences, coaching and mentoring, and formal development opportunities. We continue to evolve our integrated people and culture programs, with a particular emphasis on strategic workforce and succession planning, learning and development, competitive compensation and driving diversity and inclusion.

Diversity and Inclusion

At Methanex, we strive to provide an inclusive work environment where diversity is valued and sought after and all global team members are encouraged and supported to reach their full potential. Our team members span 11 countries, speak different languages, represent different cultures and have different backgrounds, experiences and perspectives. Valuing diversity and inclusion (D&I) means embracing our differences as strengths and recognizing how this contributes to our competitive advantage. In 2020, we created a taskforce to advance our approach to D&I and to lay the foundation for the development of an integrated strategy through our newly established Global D&I Council.

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Support for Communities

In 2020, Methanex donated US$1.7 million and almost 7,500 hours of employee time (together valued at over one per cent of our adjusted net income over the last five years) to community efforts around the world.

We believe our business should have a positive impact on people's lives and we aim to be a good neighbour and valued corporate citizen by creating positive and sustainable impacts in our communities.

Our community engagement efforts help us understand community interests, communicate information about our product and business activities, and address any community concerns. We do this primarily through Community Advisory Panels, as well as stakeholder associations, open house days, community projects, seminars, community surveys and public meetings.

In addition to creating jobs and economic opportunities, we invest in regions where we have a significant presence to build and support healthy communities that are great places to live and work. Our community investments include partnering with employees through a matching grants program; financial assistance for health, safety and environmental initiatives; and support for regional educational development and scholarships. Given the significant impact that the COVID-19 pandemic has had on individuals and communities, our 2020 community investment initiatives in all regions prioritized COVID-19 emergency relief and assistance. Here are just a few examples of the different ways in which we supported our communities in 2020.

Chile: Partnering with the school board and a local NGO,	Egypt: We partnered with the Egyptian Food Bank to provide food boxes to 10,000
we provided 270 tablets and Internet service to vulnerable	vulnerable families in Damietta who were significantly impacted by COVID-19
high school students so they could continue studying when	lockdowns. Methanex Egypt also matched employee contributions to the Egyptian
schools closed. We imported 7,000 medical-grade face masks	Food Bank campaign, ensuring an additional 2,686 families received food boxes.
for hospital personnel when these were locally unavailable,
and we also distributed 700 food boxes to families in need.

Vancouver, Canada: We donated $10,000 to support KidSafe, a local organization that provides 450 vulnerable children and youth with the safety, nutrition and educational programming they need during regular school breaks and during the COVID-19school closures.

Geismar, US: We contributed $12,000 to 225 Gives, a fundraising effort to support the local non-profit sector, which was experiencing increased demand and reduced donations due to COVID-19.

Belgium: We equipped every employee of Centrum Ganspoel (a residential centre for children, adolescents and adults with visual and neuro-motor impairments) with a face shield, and our team members participated in a virtual charity run to support "Run To Walk Again," an organization committed to the mental and physical well-being of people with a physical disability.

Dallas, US: We organized a food drive to support the North Texas Food Bank, which saw unprecedented demand for food assistance due to the pandemic and its related economic impacts.

Medicine Hat, Canada: We organized a community fundraiser that raised $31,620 for the Medicine Hat and District Food Bank when their demand increased significantly during the COVID-19pandemic.

Trinidad: We donated 30 new laptop computers to the Ministry of Education's "Adopt-a-School" project, which supports online learning by providing computers to children in fence-line communities. Through partnerships with other organizations, we provided daily meals over a three-month period to 150 health-care workers, provided 100 community care packages to impacted families, and donated equipment and supplies to outfit a local COVID-19 treatment facility.

China: We provided scholarships to nine outstanding students from the Beijing	New Zealand: We initiated a three-year partnership with
University of Chemical Technology (BUCT). We have provided scholarships to BUCT	Taranaki Rescue Helicopter, contributing $75,000 per year of
students for more than 10 years, promoting the principles of Responsible Care and	support for a dedicated rescue helicopter for the people in the
supporting recruitment of top talent in the chemicals field.	Taranaki province.

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