Enerflex (NYSE: EFXT) details 2026 strategy, market outlook and targets

Rhea-AI Filing Summary

Enerflex Ltd. has released its 2026 Investor Update presentation, outlining its outlook, strategy, and financial and capital allocation framework, alongside a virtual investor event led by the CEO. The company is focusing on operational execution, disciplined growth, and targeting markets where it believes it can compete effectively.

Enerflex operates in a global natural gas, power, and treated water solutions market of over US$20 billion, which is forecast to grow at about 6% CAGR through 2030. Around 65% of adjusted gross margin comes from recurring revenue, reflecting its integrated equipment, infrastructure, and services platform.

The company’s objective is to increase each of its adjusted EBITDA margin, cash conversion ratio, and ROCE by more than 200 basis points over a full cycle through operational excellence, targeted growth, and disciplined capital allocation.

Key Figures

Addressable market size: US$20B+ Market growth rate: ~6% CAGR Recurring adjusted gross margin: 65% +3 more

6 metrics

Addressable market size US$20B+ Global market Enerflex competes in, forecast through 2030

Market growth rate ~6% CAGR Forecast growth of core end markets through 2030

Recurring adjusted gross margin 65% Portion of adjusted gross margin from recurring sources

Profitability improvement target 200+ bps Planned increase in adjusted EBITDA margin on full-cycle basis

Cash conversion improvement target 200+ bps Planned increase in cash conversion ratio full-cycle

ROCE improvement target 200+ bps Planned increase in return on capital employed full-cycle

Key Terms

CAGR, adjusted gross margin, adjusted EBITDA margin, cash conversion ratio, +2 more

6 terms

CAGR financial

"a US$20B+ global market that is forecasted to grow at a CAGR of ~6% through 2030"

Compound Annual Growth Rate (CAGR) measures the average yearly growth of an investment, revenue, or other metric over a multi-year period as if it had grown at a steady rate each year. Think of it like the constant speed that would take you from the starting value to the ending value over the same time—useful because it smooths out ups and downs and lets investors compare different assets or performance periods on an even footing.

adjusted gross margin financial

"Approximately 65% of our adjusted gross margin is generated from recurring sources"

Adjusted gross margin is a measure of how much profit a company makes from its sales after accounting for certain expenses or one-time costs, but before deducting other operating expenses. It helps investors see the company's core profitability more clearly by removing factors that might distort the usual profit picture, similar to a runner measuring their speed without considering obstacles or weather. This metric provides a clearer view of the company's ongoing financial health.

adjusted EBITDA margin financial

"increase each of adjusted EBITDA margin, cash conversion ratio and ROCE by 200+ bps"

Adjusted EBITDA margin shows how much profit a company makes from its core operations, expressed as a percentage of its total revenue, after removing certain one-time or unusual expenses and income. It helps investors understand the company's true earning ability from regular business activities, making it easier to compare performance over time or with other companies. Think of it as measuring the efficiency of a business in turning sales into profits, excluding irregular adjustments.

cash conversion ratio financial

"increase each of adjusted EBITDA margin, cash conversion ratio and ROCE by 200+ bps"

The cash conversion ratio measures how much of a company’s reported profit actually turns into cash from its operations, typically by comparing operating cash flow to net income. It matters to investors because high ratios indicate earnings that are backed by real cash — like a baker not just recording sold cakes but actually getting paid — while low ratios can signal that reported profits may be driven by accounting entries rather than cash that can be used to pay debts, invest, or return to shareholders.

ROCE financial

"increase each of adjusted EBITDA margin, cash conversion ratio and ROCE by 200+ bps"

ROCE (return on capital employed) measures how much profit a company earns for each dollar of capital put into the business, comparing operating profit to the total funds used to run the company. Investors use it like a production efficiency score — similar to measuring how much fruit a tree yields compared with the cost to plant and care for it — to judge how well management turns invested money into returns and to compare companies of different sizes.

forward-looking information regulatory

"This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws"

Forward-looking information are predictions, plans, estimates or expectations about a company’s future performance, results or events, such as sales forecasts, project timelines, or anticipated costs. It matters to investors because these statements guide expectations but rely on assumptions and uncertain factors—like a weather forecast for a business—so investors should treat them as informed guesses rather than guarantees and consider the risks and possible changes behind the numbers.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Section 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

For the month of May 2026

Commission File Number: 001-41531

Enerflex Ltd.

(Exact name of Registrant as Specified in Its Charter)

Suite 904, 1331 Macleod Trail S.E.

Calgary, Alberta, Canada, T2G 0K3

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F☐ Form 40-F☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1). ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):☐

Exhibit		Description
99.1		ENERFLEX LTD. PUBLISHES 2026 INVESTOR UPDATE PRESENTATION

SIGNATURES

Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Company Name
Date: May 27, 2026		By:	/s/ Justin D. Pettigrew
			Justin D. Pettigrew
			Corporate Secretary and Associate General Counsel, Corporate

ENERFLEX LTD. PUBLISHES 2026 INVESTOR UPDATE PRESENTATION

CALGARY, Alberta, May 27, 2026 – Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) has published its 2026 Investor Update presentation outlining the Company’s outlook, strategic priorities and financial and capital allocation framework. A copy of the presentation is available on Enerflex’s website at www.enerflex.com.

Enerflex will host a virtual Investor Update beginning today at 8:00 am MT (10:00am ET). The Investor Update will include a formal presentation led by Enerflex’s President and CEO, Paul Mahoney, with a question-and-answer period to follow.

Investor Update Highlights:

•Clear strategy focused on operational execution and disciplined growth: Enerflex aims to “compete intentionally and improve relentlessly,” prioritizing operational excellence, the highest value growth opportunities in markets where we can win, and disciplined capital allocation to drive value creation for shareholders.

•Exposure to attractive, growing end markets: Enerflex competes in a US$20B+ global market that is forecasted to grow at a CAGR of ~6% through 2030. End market growth is supported by increasing natural gas production, LNG exports, and power generation demand (including data centers) across North America, LATAM, and the Middle East.

•Strong, resilient business model with recurring revenue: Approximately 65% of our adjusted gross margin is generated from recurring sources, supported by Enerflex’s integrated equipment, infrastructure, and services platform across core global markets.

•Improving financial performance and disciplined capital allocation: The Company’s objective is to increase each of adjusted EBITDA margin, cash conversion ratio and ROCE by 200+ bps on a full cycle basis through operational excellence, targeted growth and disciplined capital allocation.

Registration for the Virtual Investor Update can be completed using the following link: https://edge.media-server.com/mmc/p/eyz29mbq. Participants can join by webcast to follow along with the presentation. Questions can be submitted via the webcast or asked on the dial-in:

Dial-in numbers: https://register-conf.media-server.com/register/BI8e02cded3fae4a3dbb8d89234ae4be38.

Shortly after the live webcast, an archived version of the Investor Update will be available on Enerflex’s website.

ADVISORY REGARDING FORWARD-LOOKING INFORMATION

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”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. In particular, this news release includes (without limitation) FLI pertaining to the ability of the Company to increase each of adjusted EBITDA margin, cash conversion ratio and ROCE by 200+ bps and the timing associated therewith, if at all.

FLI are not guarantees of future performance and involve a number of risks and uncertainties. The actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties and other factors affecting Enerflex and its business are identified under the heading "Risk Factors" in: (i) Enerflex's Annual Information Form for the year ended December 31, 2025, dated February 25, 2026; and (ii) in other filings with Canadian securities regulators and the SEC, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively. The FLI 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 FLI, 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.

ABOUT ENERFLEX

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer-focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value.

With over 4,400 engineers, manufacturers, technicians, professionals, 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 world’s energy needs.

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:

Paul Mahoney

President and Chief Executive Officer

E-mail: PMahoney@enerflex.com

Preet S. Dhindsa

Senior Vice President and Chief Financial Officer

E-mail: PDhindsa@enerflex.com

Jeff Fetterly

Vice President, Corporate Development and Capital Markets

E-mail: JFetterly@enerflex.com

2

FAQ

What is Enerflex (EFXT) announcing in its May 2026 Form 6-K?

Enerflex is highlighting its 2026 Investor Update presentation, which details strategic priorities, market outlook, and its financial and capital allocation framework. The update supports communication of long-term plans rather than reporting specific quarterly earnings or transaction events.

What financial improvement targets does Enerflex (EFXT) outline in the 2026 Investor Update?

Enerflex aims to increase its adjusted EBITDA margin, cash conversion ratio, and return on capital employed by more than 200 basis points on a full-cycle basis. The company plans to pursue this through operational excellence, targeted growth, and disciplined capital allocation.

How large is Enerflex’s (EFXT) addressable market and expected growth?

Enerflex competes in a global market of more than US$20 billion that is forecast to grow at about a 6% compound annual growth rate through 2030. Growth is supported by higher natural gas production, LNG exports, and increasing power generation demand, including data centers.

What portion of Enerflex’s (EFXT) earnings comes from recurring revenue?

Approximately 65% of Enerflex’s adjusted gross margin is generated from recurring sources. This is supported by its integrated platform of equipment, infrastructure, and services across core global markets, which can provide more stability than purely project-based revenue models.

Which regions and end markets are central to Enerflex’s (EFXT) strategy?

Enerflex targets growing demand linked to natural gas, LNG exports, and power generation, including data centers, across North America, Latin America, and the Middle East. These regions underpin its focus on markets where it believes it can compete effectively and grow profitably.

How can investors access Enerflex’s (EFXT) 2026 Investor Update materials?

The 2026 Investor Update presentation is available on Enerflex’s website. The company is also hosting a virtual Investor Update with a webcast, and an archived version of the event will be accessible online shortly after the live session concludes.

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