Methanex Provides Update on Trinidad and Tobago Operations

§ 01 Executive Snapshot

• What: Methanex Corporation announced the indefinite idling of its Titan methanol plant in Trinidad and Tobago due to an inability to secure a new natural gas contract.
• Who: Methanex Corporation, Government of Trinidad and Tobago, National Gas Company of Trinidad and Tobago.
• Why it matters: This decision reflects the ongoing challenges in securing economically viable natural gas supplies, impacting Methanex's operations and shareholder value.

§ 02 Key Developments

• Titan methanol plant has a capacity of 860,000 tonnes per year and is being idled as the existing natural gas contract expires in Q3 2026.
• Methanex will initiate a preservation process at the Titan plant to allow for a potential restart in the future.
• The Atlas methanol plant, a joint venture where Methanex holds a 63.1% stake, remains indefinitely idled.

§ 03 Strategic Context

• Methanex has a long-standing presence in Trinidad and Tobago, and the Titan plant has been key to its operations in the region.
• The decision to idle the Titan plant underscores the structural challenges posed by tight gas supply and demand balances in the region, which have made operations commercially unviable.

§ 04 Strategic Implications

• The immediate consequence is the halt of production at the Titan plant, which will affect Methanex's operational capacity and potential revenue.
• Long-term implications include the need for Methanex to reassess its operational strategy in Trinidad and Tobago as market conditions evolve.

§ 05 Risks & Constraints

• Potential risks include ongoing regulatory challenges and the volatility of natural gas prices affecting future operations.
• Competition for natural gas supply and the dependency on external suppliers pose significant operational risks for Methanex.

§ 06 Watchlist / Forward Signals

• Methanex plans to monitor conditions closely and reassess its operations in Trinidad and Tobago over the coming years.
• Updates on production and financial guidance are expected with the regular second quarter financial communications scheduled for July 28, 2026.