Mr. John Floren reports

METHANEX REPORTS Q2 2014 EARNINGS

For the second quarter of 2014, Methanex Corp. recorded adjusted earnings before interest, taxes, depreciation and amortization of $160-million, compared with adjusted EBITDA of $255-million recorded in the first quarter of 2014 and $157-million recorded in the quarter ended June 30, 2013. Adjusted net income was $91-million (94 cents per share on a diluted basis) in the second quarter of 2014, compared with adjusted net income of $160-million ($1.65 per share on a diluted basis) for the first quarter of 2014 and $99-million ($1.02 per share on a diluted basis) for the second quarter of 2013.

John Floren, president and chief executive officer of Methanex, commented: "Methanol prices are lower in Q2 2014 compared with Q1 2014, resulting in lower Q2 earnings as compared with the first quarter. We believe pricing is now stabilizing at current levels."

Mr. Floren added: "At these methanol prices, Methanex continues to generate strong EBITDA and cash flows. The methanol industry environment remains favourable, with steady demand and limited new supply additions expected in the near to medium term."

Mr. Floren added: "We are making excellent progress on the relocation of two of our Chile plants to Geismar, La., and are targeting methanol production from our Geismar 1 facility in late 2014 and Geismar 2 in early 2016. Each of these plants will add an incremental one million tonnes to our operating capacity.

"In the second quarter, we also reached a settlement agreement with Total Austral S.A. of Argentina and received a lump sum payment of $42-million (U.S.), or $27-million net of tax, to terminate their obligations under their former long-term natural gas supply agreement with Methanex in Chile. This payment is not included in our Q2 2014 adjusted EBITDA or adjusted net income, but has been recorded in Q2 2014 net income attributable to Methanex shareholders.

"During the quarter, we returned over $100-million in cash to shareholders in the form of dividends and share repurchases. With over $600-million of cash on hand, an undrawn credit facility, robust balance sheet and strong cash flow generation, we are well positioned to meet our financial commitments, invest to grow the company, and return excess cash to shareholders through dividends and our share buyback program."

A conference call is scheduled for July 31, 2014, at 12 p.m. ET (9 a.m. PT) to review these second quarter results. To access the call, dial the conferencing operator 10 minutes prior to the start of the call at 416-340-2218, or toll-free at 866-226-1793. A playback version of the conference call will be available until Aug. 21, 2014, at 905-694-9451, or toll-free at 800-408-3053. The passcode for the playback version is 2070181. Presentation slides summarizing second quarter 2014 results and a simultaneous audio-only webcast of the conference call can be accessed from the company's website. The webcast will be available on the website for three weeks following the call.

                                                  
                  CONSOLIDATED STATEMENTS OF INCOME                           
          (thousands of U.S. dollars, except per-share amounts)     
                                                                              
                               Three months ended           Six months ended     
                             June 30,     June 30,      June 30,     June 30,
                                2014         2013          2014         2013

Revenue                  $   791,310  $   733,099   $ 1,759,788  $ 1,384,998
Cost of sales and
operating expenses          (610,294)    (580,116)   (1,320,166)  (1,108,111)
Depreciation and
amortization                 (33,113)     (28,953)      (67,924)     (58,770)
Argentina gas
settlement                    42,000           --        42,000           --
Write-off of oil and
gas rights                        --      (16,859)           --      (16,859)
Geismar project
relocation expenses
and charges                       --      (33,867)           --      (33,867)
Operating income             189,903       73,304       413,698      167,391
Earnings of associate          3,293        6,017        10,704        7,303
Finance costs                 (9,570)     (14,618)      (20,408)     (30,069)
Finance income and
other expenses                 1,277        2,698           914        1,071
Income before income
taxes                        184,903       67,401       404,908      145,696
Income tax recovery
(expense)
Current                      (27,275)     (23,276)      (53,653)     (27,667)
Deferred                     (19,154)      21,726       (44,442)      14,055
Total                        (46,429)      (1,550)      (98,095)     (13,612)
Net income               $   138,474  $    65,851   $   306,813  $   132,084
Attributable to
Methanex
shareholders                 124,784       53,999       269,886      114,266
Non-controlling
interests                     13,690       11,852        36,927       17,818
Total                    $   138,474  $    65,851   $   306,813  $   132,084
Income per share for
the period
attributable to
Methanex
shareholders
Basic net income per
common share             $      1.30  $      0.57   $      2.81  $      1.21
Diluted net income
per common share         $      1.24  $      0.56   $      2.79  $      1.19

We seek Safe Harbor.