Mr. Kevin Reinhart reports

ENERFLEX LTD. ANNOUNCES LEADERSHIP TRANSITION

Marc Rossiter has stepped down as president, chief executive officer and director of Enerflex Ltd., effective immediately.

Preet Dhindsa, Enerflex's current senior vice-president and chief financial officer, will serve as interim chief executive officer. Mr. Dhindsa joined Enerflex in October, 2023, and is a seasoned executive with more than 25 years of experience, primarily in the energy and financial service industries.

Joe Ladouceur, vice-president, treasury, tax and insurance, will serve as interim CFO.

The board is undertaking a comprehensive search to identify the company's next CEO and has retained a leading executive search firm to assist with this process.

Kevin Reinhart, chair of the board of directors, stated: "As we look to the future and position Enerflex to create shareholder value over the long-term, the board decided that now is the right time to undertake a leadership transition. We thank Marc for his more than 25 years of dedicated service and commitment to Enerflex, including the last six years as CEO, and wish him the best in his future endeavours."

Mr. Rossiter said: "Leading Enerflex has been a true privilege, and I'm incredibly proud of all that we've accomplished together to propel the business forward over the past six years. Thanks to the dedication of a talented team, Enerflex is well positioned to build on its positive momentum, and I believe the company has a bright future."

Mr. Reinhart added: "Preet has been instrumental in Enerflex's efforts to simplify, optimize and grow, and we are fortunate to have him serve as interim chief executive officer. With the support and collaboration of a deep bench of executive talent, we are confident in Preet's ability to lead Enerflex in this interim period as we complete our search for a permanent CEO.

"Enerflex's near-term priorities remain unchanged and include: (1) enhancing the profitability of core operations; (2) leveraging the company's leading position in core operating countries to capitalize on expected increases in natural gas and produced water volumes; and (3) maximizing free cash flow to further strengthen Enerflex's financial position, provide direct shareholder returns and invest in selective customer supported growth opportunities."

Mr. Dhindsa commented: "I am excited to continue working closely with the board, management and our colleagues across the company. Our focus remains on generating sustainable free cash flow, further improving balance sheet health, and positioning the company for long-term growth and value creation. With the company operating within its target leverage range, Enerflex is positioned to increase direct shareholder returns, as reflected by: (1) the previously announced 50-per-cent increase of the company's quarterly dividend; and (2) today's concurrent announcement of the company's intention to implement a normal course issuer bid."

Outlook

All amounts presented are in U.S. dollars unless otherwise stated.

Enerflex is reaffirming its outlook for 2025, which reflects:

1. Steady demand across the company's business lines and geographic regions, although Enerflex continues to closely monitor geopolitical tensions across North America, including the potential impact of tariffs. Based on currently available information, the direct impact of tariffs on Enerflex's business is expected to be mitigated by the company's diversified operations and pro-active risk management.
2. Approximately 65 per cent of the company's gross margin before depreciation and amortization is generated by the highly contracted energy infrastructure product line and the recurring nature of its aftermarket services business.
3. The expectation that engineered systems' gross margin before depreciation and amortization will be more consistent with the historical long-term average for this business line and that near-term revenue is expected to remain steady.
4. A disciplined capital program in 2025, with total capital expenditures of $110-million to $130 million: Growth capital spending of $40-million to $60-million will focus on customer supported opportunities in the United States and Middle East.

About Mr. Dhindsa

Since joining Enerflex, he has spearheaded several corporate initiatives including improving balance sheet health and enhancing the global finance function. Prior to joining Enerflex, he served as executive vice-president and chief financial officer at Enmax Corp., a regulated utility with energy generation and retail lines of business. Prior thereto, he was senior vice-president and chief financial officer, global banking and markets, at Scotiabank, leading international finance teams. He began his career as a professional accountant with KPMG and holds a bachelor of science degree in mathematics and statistics from Western University and a graduate diploma in accounting from Wilfrid Laurier University. He is a chartered professional accountant and chartered director.

About Mr. Ladouceur

Prior to joining Enerflex, he served as president and chief executive officer of Platinum Energy Services Ltd. until he managed its sale in 2022. With over 30 years of experience in the finance and energy industries, he has held numerous executive leadership roles with Canadian exploration and production, energy services, and equipment fabrication companies. He began his career with Royal Bank of Canada and RBC Dominion Securities, where he was involved in corporate banking and global energy projects. He holds an honours business administration degree with a major in finance from the Ivey Business School in London, Ont., a master of business administration from KU Leuven in Belgium and an honorary fellowship from St. Mary's University in Calgary.

About Enerflex Ltd.

Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon and treated water solutions -- from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians and innovators, Enerflex is bound together by a shared vision: transforming energy for a sustainable future. The company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

Enerflex's common shares trade on the Toronto Stock Exchange under the symbol EFX and on the New York Stock Exchange under the symbol EFXT.

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