Enerflex Ltd. Announces Retirement of Directors

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Enerflex (TSX: EFX) (NYSE: EFXT) announced the retirement of two board members, W. Byron Dunn and Michael A. Weill, effective January 1, 2025, in accordance with the Company's Board Retirement Policy. In response, the company has appointed Joanne Cox as Chair of the Human Resources and Compensation Committee and Tom Tyree as Chair of the Nominating and Corporate Governance Committee. Board Chair Kevin Reinhart acknowledged the departing directors' contributions in helping Enerflex develop into a leading integrated global provider of energy infrastructure, energy transition, and treated water solutions.

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On the day this news was published, EFXT declined 2.18%, reflecting a moderate negative market reaction.

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CALGARY, Alberta, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced the upcoming retirement of W. Byron Dunn and Michael A. Weill from its Board of Directors, effective January 1, 2025, pursuant to the term limits set in the Company’s Board Retirement Policy.

Kevin Reinhart, Enerflex’s Board Chair, commented, “The Board, Management, and the over 4,600 employees of Enerflex would like to extend gratitude to Byron and Mike for their significant contributions to the Company since the spinoff from Toromont. Their guidance and leadership have helped Enerflex become a premier integrated global provider of energy infrastructure, energy transition, and treated water solutions, and we wish them well.”

In preparation for the upcoming retirements, the Enerflex Board has appointed Joanne Cox as Chair of the Human Resources and Compensation Committee and Tom Tyree as Chair of the Nominating and Corporate Governance Committee.

ABOUT ENERFLEX

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". For more information about Enerflex, visit www.enerflex.com.

For investor and media enquiries, contact:

Marc Rossiter
President and Chief Executive Officer
E-mail: MRossiter@enerflex.com

Preet S. Dhindsa
Senior Vice President and Chief Financial Officer
E-mail: PDhindsa@enerflex.com

Jeff Fetterly
Vice President, Corporate Development and Investor Relations
E-mail: JFetterly@enerflex.com

FAQ

When will W. Byron Dunn and Michael A. Weill retire from Enerflex's (EFXT) Board of Directors?

They will retire effective January 1, 2025, in accordance with the Company's Board Retirement Policy.

Who are the new committee chairs appointed at Enerflex (EFXT) following the director retirements?

Joanne Cox was appointed as Chair of the Human Resources and Compensation Committee, and Tom Tyree as Chair of the Nominating and Corporate Governance Committee.

How many employees does Enerflex (EFXT) currently have?

Enerflex has over 4,600 employees according to the announcement.

What are the main business areas of Enerflex (EFXT)?

Enerflex is an integrated global provider of energy infrastructure, energy transition, and treated water solutions.