Methanex Announces an Increase to Its Share Repurchase Program

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 28, 2015) - Methanex Corporation (the "Company") (TSX:MX)(NASDAQ:MEOH) announced today that it has received approval from the Toronto Stock Exchange (the "TSX") to amend the Normal Course Issuer Bid initiated on May 6, 2014 (the "Bid") in order to increase the maximum number of common shares that may be acquired under the Bid from 4,826,197 common shares to 8,577,716 common shares, representing 10% of the public float as at April 29, 2014. Since the commencement of the Bid on May 6, 2014, the Company has repurchased 4,826,197 common shares at a weighted average execution price of $57.20 per share. Under the amended Bid, the Company will be permitted to repurchase for cancellation up to an additional 3,751,519 common shares over the facilities of the TSX up to and including May 5, 2015. No other terms of the Bid have been amended.

John Floren, President and CEO of Methanex commented, "Our announcement of an increase to the current share repurchase program reflects our balanced approach to the utilization of cash and builds on our long track record of returning excess cash to shareholders. With over $900 million of cash on hand at the end of December 2014, we have the financial strength to complete the Geismar project, repay debt obligations, invest to grow the Company and continue to return excess cash to shareholders."

Purchases of additional shares under the Bid may commence on February 4, 2015 and may be made from time to time at the then current market price of the Company's common shares as traded on the TSX. Subject to certain exceptions for block purchases, daily repurchases under the program will not exceed 93,107 common shares, representing 25 percent of the Company's average daily trading volume on the TSX for the six month period ended on April 30, 2014. The Company has entered into an automatic securities purchase plan with its broker in connection with purchases to be made under this program.

Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Market in the United States under the trading symbol "MEOH".

FORWARD-LOOKING INFORMATION WARNING

This press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable British Columbia securities law. More particularly and without limitation, any statements regarding the following are forward‐looking statements: