Enerflex

ANNOUNCES THIRD QUARTER 2026 FINANCIAL AND OPERATIONAL RESULTS AND INCREASED DIVIDEND ADJUSTED EBITDA OF $129 MILLION, FREE CASH FLOW OF $102 MILLION AND RETURN ON CAPITAL EMPLOYED OF 15.8% RECORD ES BOOKINGS AND BACKLOG OF $1.0 BILLION AND $2.1 BILLION, RESPECTIVELY QUARTERLY DIVIDEND INCREASED BY ~17% TO US$0.035 PER SHARE; SUPPORTS DIRECT SHAREHOLDER RETURNS NEWS RELEASE CALGARY, Alberta, October 29, 2026 – Enerflex Ltd.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Conflicting figures recorded for this item — see “Conflicting figures” below.

Reflecting confidence in our business and outlook, the Board has approved an increase of approximately 17% to Enerflex’s quarterly dividend, aligning with our objective of providing meaningful direct shareholder returns.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

These investments, combined with on-going initiatives to enhance collaboration, leverage scale, improve operational efficiency, and solidify capabilities, are expected to significantly increase revenue capacity of Enerflex’s ES business line SHAREHOLDER RETURNS • Enerflex’s Board of Directors has elected to declare the Company’s quarterly dividend in U.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Dollars and approved an increase of approximately 17% to $0.035 per common share, effective with the dividend payable in November 2026.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

The dividend increase is aligned with the Company’s commitment to disciplined capital allocation and providing meaningful direct shareholder returns BALANCE SHEET AND LIQUIDITY Enerflex exited Q3/26 with net debt of $312 million, which included $227 million of cash and cash equivalents.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

DIVIDEND DECLARATION Enerflex is committed to paying a sustainable quarterly cash dividend to shareholders.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

MANAGEMENT COMMENTARY Paul Mahoney, Enerflex's President and Chief Executive Officer stated: “Enerflex delivered a solid third quarter, highlighted by healthy cash generation, record bookings and backlog, notable commercial wins for behind-the-meter natural gas-fired power generation, and continued progress towards the strategic objectives highlighted during our May investor update.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

We are very pleased with the progress to date and adoption of operational and efficiency initiatives across our integrated company.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

” Preet Dhindsa, Enerflex’s Senior Vice President and Chief Financial Officer, added: “Strong cash generation during the third quarter strengthened Enerflex’s financial position and provides significant flexibility as we continue to progress towards our strategic objectives.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

During the quarter, we completed the divestiture of the majority of our Asia Pacific operations, further sharpening our focus on core operating regions.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

We remain focused on maintaining balance sheet strength and disciplined capital allocation, including investing in organic growth and evaluating selective value-enhancing tuck-in acquisition opportunities.

SEC original ↗Enerflex — Earnings release (6-K exhibit)EX-99Oct 29, 2026

In particular, the impact of geopolitical events, such as imposed tariffs in the North American market and ongoing conflict in the Middle East, could materially impact customer and supplier arrangements, as well as interest and inflation rates, resulting in increased volatility and near-term uncertainty.

SEC original ↗Enerflex — Presentation / slide deck (6-K exhibit)EX-99Oct 29, 2026

Commitments The Company has purchase obligations over the next five years as follows: 2026 $ 423 2027 770 2028 182 2029 80 2030 29 F- 16 Notes to the Interim Condensed Consolidated Financial Statements Legal Proceedings In the normal course of business, the Company and certain of its subsidiaries are involved in or subject to lawsuits, claims, and other legal proceedings that seek, among other things, compensation for alleged personal injury, breach of contract, property damage or other losses, punitive damages, civil penalties, or injunctive or declaratory relief.

SEC original ↗Enerflex — Presentation / slide deck (6-K exhibit)EX-99Oct 29, 2026

Some lawsuits, claims, and legal proceedings involve acquired or disposed assets with respect to which a third party, the Company, or its subsidiary retains liability or indemnifies the other party for conditions that existed prior to the transaction.

SEC original ↗Enerflex — Presentation / slide deck (6-K exhibit)EX-99Oct 29, 2026

In accordance with applicable accounting guidance, Enerflex and its subsidiaries accrue reserves for outstanding lawsuits, claims, and proceedings when it is probable that a liability has been incurred and that such liability can be reasonably estimated.

SEC original ↗Enerflex — Presentation / slide deck (6-K exhibit)EX-99Oct 29, 2026

The Company does not currently expect that any of the outstanding lawsuits, claims, or legal proceedings will have a material adverse effect on Enerflex, including its consolidated financial position, results of operations, or cash flows.

SEC original ↗Enerflex — Presentation / slide deck (6-K exhibit)EX-99Oct 29, 2026

Enerflex’s expectations and estimates are based on information known about the legal matters and its experience in contesting, litigating, and settling similar matters, however the eventual results of outstanding lawsuits, claims, and other legal proceedings are inherently uncertain, and there can be no assurance that monetary damages, fines, penalties, or injunctive relief resulting from adverse judgments or settlements in some or all of the Company’s or its subsidiaries’ outstanding lawsuits, claims, or legal proceedings will not have a material adverse effect on Enerflex, including its consolidated financial position, results of operations, or cash flows.

SEC original ↗Enerflex — Presentation / slide deck (6-K exhibit)EX-99Oct 29, 2026