Connor Clark & Lunn (EFXT) discloses 7.0% beneficial ownership in Enerflex

Rhea-AI Filing Summary

Connor, Clark & Lunn Investment Management Ltd. filed Amendment No. 1 to a Schedule 13G reporting a passive ownership position in Enerflex Ltd. The firm reports beneficial ownership of 8,554,081 common shares, representing 7.0% of the class as of the triggering event.

The reporting person has sole power to vote 7,788,321 shares and sole power to dispose of 8,554,081 shares, with no shared voting or dispositive power. It certifies the Enerflex securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Enerflex Ltd.

(Name of Issuer)

COM

(Title of Class of Securities)

29269R105

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 29269R105

1

Names of Reporting Persons

Connor, Clark & Lunn Investment Management Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,788,321.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,554,081.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,554,081.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Enerflex Ltd.
(b)	Address of issuer's principal executive offices: 1331 MacLeod Trail South East, Calgary, CA-AB, T2G 0K3, CA
Item 2.
(a)	Name of person filing: Connor, Clark & Lunn Investment Management Ltd.
(b)	Address or principal business office or, if none, residence: #2300 - 1111 West Georgia Street, Vancouver, V6E 4M3, BC, Canada
(c)	Citizenship: BRITISH COLUMBIA, CANADA
(d)	Title of class of securities: COM
(e)	CUSIP No.: 29269R105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 8,554,081
(b)	Percent of class: 7.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 7,788,321
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 8,554,081
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. Global Alpha Capital Management Ltd. ("Company") is of the view that it and the investment companies and other accounts that it manages are not acting as a "group" for the purposes of section 13(d) under the Act and that it and such investment companies and accounts are not otherwise required to attribute to each other the "beneficial ownership" of securities "beneficially owned" under Rule 13D-3 promulgated under the 1934 Act. Therefore, it is of the view that the shares held by the Company and such investment companies and accounts should not be aggregated for purposes of section 13(d). After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Connor, Clark & Lunn Investment Management Ltd.

Signature:	Derrick Crowe
Name/Title:	Chief Compliance Officer
Date:	02/10/2026

FAQ

What stake in Enerflex Ltd. (EFXT) does Connor, Clark & Lunn report?

Connor, Clark & Lunn Investment Management Ltd. reports beneficial ownership of 8,554,081 Enerflex Ltd. shares. This position represents 7.0% of the company’s outstanding class of securities, crossing the 5% threshold that requires public disclosure on a Schedule 13G under U.S. securities rules.

Is Connor, Clark & Lunn’s Enerflex (EFXT) position reported as passive or activist?

Connor, Clark & Lunn certifies the Enerflex shares were acquired and are held in the ordinary course of business. It further certifies they were not acquired and are not held for the purpose of changing or influencing control, indicating a passive investment intent under applicable reporting rules.

How much voting and dispositive power does Connor, Clark & Lunn have over Enerflex (EFXT) shares?

Connor, Clark & Lunn reports sole voting power over 7,788,321 Enerflex shares and sole dispositive power over 8,554,081 shares. It reports no shared voting power and no shared dispositive power, meaning all reported authority over the stake is held on a sole basis.

When did Connor, Clark & Lunn’s Enerflex (EFXT) ownership trigger this Schedule 13G/A filing?

The filing lists 12/31/2025 as the date of the event requiring the Schedule 13G/A. That date is when the ownership level or other conditions met the criteria under Rule 13d, prompting this amended beneficial ownership disclosure for Enerflex Ltd.

Who signed the Enerflex (EFXT) Schedule 13G/A on behalf of Connor, Clark & Lunn?

The Schedule 13G/A is signed by Derrick Crowe, identified as Chief Compliance Officer. The signature block includes a certification that, after reasonable inquiry, the information in the statement regarding Enerflex Ltd. beneficial ownership is true, complete, and correct as of the filing date.

Where is Connor, Clark & Lunn Investment Management Ltd. based in this Enerflex (EFXT) filing?

Connor, Clark & Lunn Investment Management Ltd. is described as organized in British Columbia, Canada, with its principal business office at #2300 - 1111 West Georgia Street, Vancouver, BC, Canada. The issuer Enerflex Ltd. is based in Calgary, Alberta, according to the same disclosure.