Methanex Provides Update on Trinidad and Tobago Operations

Executive Summary

• Methanex Corporation announced it has failed to secure a new natural gas contract for its Titan methanol plant in Trinidad and Tobago, leading to the indefinite idling of the facility.
• The Titan plant, which has a capacity of 860,000 tonnes per year, will undergo a preservation process to maintain optionality for a future restart if market conditions improve.
• The Atlas methanol plant, a joint venture in which Methanex holds a 63.1% economic interest, remains in an indefinitely idled and preserved state.

Key Details

• Titan Plant Status: The Titan methanol plant (860,000 tonnes per year capacity) is being indefinitely idled due to the inability to agree on a new natural gas contract.
• Contract Expiration: Titan’s existing natural gas contract expires in the third quarter of 2026.
• Atlas Plant Status: The Atlas methanol plant remains indefinitely idled in a preserved state; Methanex holds a 63.1% economic interest in this joint venture.
• Financial Impact: Titan is not currently contributing to the Company’s Adjusted EBITDA or Adjusted Free Cash Flow.
• Cost Implications: Methanex does not expect to incur material cash costs as a result of this decision.
• Future Guidance: Updates to production or financial guidance will be released with the regular second quarter financial communications scheduled for July 28, 2026.
• Strategic Rationale: The decision reflects a focus on preserving long-term shareholder value amid structurally tight gas supply and demand balances in Trinidad and Tobago, making operations commercially unviable.

Notable Quotes

• Rich Sumner, President and CEO: “We have a long history in Trinidad and Tobago with an outstanding organization that has played an important role in our Company’s history. This difficult decision reflects our focus on preserving long-term shareholder value in a challenging environment where the structurally tight gas supply and demand balances in Trinidad and Tobago are making operations commercially unviable.”
• Rich Sumner, President and CEO: “We will monitor future developments closely, with a view to reassessing conditions and our position over the coming years. We are now focused on supporting our team members during this challenging period and safely idling and preserving the facility.”