This news release contains “forward-looking information” within the meaning of applicable Canadian
securities laws and “forward-looking statements” (and together with “forward-looking information”, “forward-looking information and statements”) within the meaning of the safe harbor provisions of the US Private
Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking information and statements. The use of any of the words “future”, “continue”, “estimate”,
“expect”, “may”, “will”, “could”, “believe”, “predict”, “potential”, “objective”, and similar expressions, are intended to identify forward-looking information and
statements. In particular, this news release includes (without limitation) forward-looking information and statements pertaining to: expected increases in natural gas and produced water volumes in Enerflex’s core operating regions;
Enerflex’s 2025 preliminary outlook including expectations: (i) for steady demand across business lines and geographic regions; (ii) that the Energy Infrastructure product line and the recurring nature of After-Market Services will,
together, account for approximately 65% of gross margin before depreciation and amortization; (iii) that customer contracts within the EI product line, will generate approximately $1.5 billion of revenue during their current terms;
(iv) that the majority of the ES backlog of approximately $1.3 billion (as at December 31, 2024) will convert into revenue over the next 12 months; (v) that near-term revenue for the ES
business line will remain steady; (vi) that the medium-term outlook for ES products and services will continue to be attractive, driven by expected increases in natural gas and produced water volumes; (vii) for a disciplined capital
program during 2025, with total capital expenditures of $110 million to $130 million, which includes a total of approximately $70 million for maintenance and PP&E capital expenditures; (viii) that capital spending will focus
on customer supported opportunities in the U.S. and Middle East; (ix) that the fundamentals for contract compression in the U.S. remain strong, led by expected increases in natural gas production in the Permian and capital spending discipline
from market participants; and (x) that Enerflex will release its financial results and operating highlights for the year ended December 31, 2024, prior to market open on Thursday, February 27, 2025.
All forward-looking information and statements in this news release are subject to important risks, uncertainties, and assumptions, which may affect
Enerflex’s operations, including, without limitation: the impact of economic conditions; the markets in which Enerflex’s products and services are used; general industry conditions; changes to, and introduction of new, governmental
regulations, laws, and income taxes; increased competition; insufficient funds to support capital investments; availability of qualified personnel or management; political unrest and geopolitical conditions; and other factors, many of which are
beyond the control of Enerflex. As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, these statements, including but not
limited to: the ability of Enerflex to realize the anticipated benefits of, and synergies from, the acquisition of Exterran Corporation and the timing and quantum thereof; the interpretation and treatment of the transaction to acquire Exterran
Corporation by applicable tax authorities; the ability to maintain desirable financial ratios; the ability to access various sources of debt and equity capital, generally, and on acceptable terms, if at all; the ability to utilize tax losses in the
future; the ability to maintain relationships with partners; risks associated with technology and equipment, including potential cyberattacks; the occurrence and continuation of unexpected events such as pandemics, severe weather events, war,
terrorist threats, and the instability resulting therefrom; risks associated with existing and potential future lawsuits, shareholder proposals, and regulatory actions; and those factors referred to under the heading “Risk Factors”
in: (i) Enerflex’s Annual Information Form for the year ended December 31, 2023, (ii) Enerflex’s management’s discussion and analysis for the year ended December 31, 2023, and (iii) Enerflex’s Management
Information Circular dated March 15, 2024, each of the foregoing documents being accessible under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.
Readers are cautioned that the foregoing list of assumptions and risk factors should not be construed as exhaustive. The forward-looking information and
statements included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update
or revise any forward-looking information and statements, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.
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