Royal Bank of Canada (EFXT) reports 4.94% Enerflex ownership in 13G/A

Rhea-AI Filing Summary

Royal Bank of Canada has amended its ownership disclosure for Enerflex Ltd., reporting beneficial ownership of 6,017,880 shares of Enerflex common stock, representing 4.94% of the class as of the reported date. All of these shares are held with shared voting and dispositive power, with no sole authority reported.

The filing states that the securities were acquired and are held in the ordinary course of business, and not for the purpose of changing or influencing control of Enerflex. The position is now reported as ownership of 5 percent or less of the outstanding common shares.

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)

Common Stock

(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

Royal Bank of Canada

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

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,017,880.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,017,880.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,017,880.00

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)

4.94 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ENERFLEX LTD.
(b)	Address of issuer's principal executive offices: 1331 Macleod Trail S.E., Calgary, Alberta, Canada, T2G 0K3
Item 2.
(a)	Name of person filing: Royal Bank of Canada
(b)	Address or principal business office or, if none, residence: 200 Bay Street, Toronto, Ontario, M5J QJ5, Canada
(c)	Citizenship: Canada
(d)	Title of class of securities: Common Stock
(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: 6,017,880
(b)	Percent of class: 4.94 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 6,017,880
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 6,017,880
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. RBC Capital Markets, LLC: A broker -dealer registered under section 15 of the Act (15 U.S.C 78o). RBC Dominion Securities Inc.: A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J).
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.

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.

Royal Bank of Canada

Signature:	/s/ Terry Fallon
Name/Title:	Managing Director
Date:	02/12/2026

Exhibit Information

99.1 Power of Attorney https://www.sec.gov/Archives/edgar/data/1000275/000121465925015105/ex99_1.htm

FAQ

What percentage of Enerflex (EFXT) shares does Royal Bank of Canada report owning?

Royal Bank of Canada reports beneficial ownership of 4.94% of Enerflex’s common stock. This corresponds to 6,017,880 shares, all held with shared voting and shared dispositive power, indicating influence over those shares without sole decision-making authority.

How many Enerflex (EFXT) shares does Royal Bank of Canada beneficially own?

Royal Bank of Canada beneficially owns 6,017,880 shares of Enerflex common stock. The filing shows shared voting and dispositive power over all these shares, with no sole power to vote or dispose of any Enerflex shares reported.

Is Royal Bank of Canada seeking control of Enerflex (EFXT) with this stake?

The filing states the Enerflex shares were acquired and are held in the ordinary course of business. It explicitly notes they are not held for the purpose of changing or influencing control of Enerflex or in connection with any such transaction.

Why did Royal Bank of Canada file an amended Schedule 13G/A for Enerflex (EFXT)?

Royal Bank of Canada filed an amended Schedule 13G/A to update its beneficial ownership information for Enerflex. The amendment reports ownership of 6,017,880 shares, equal to 4.94% of the class, now categorized as ownership of five percent or less.

Which entities are identified in connection with Royal Bank of Canada’s Enerflex (EFXT) holdings?

The filing identifies RBC Capital Markets, LLC as a registered broker-dealer and RBC Dominion Securities Inc. as a non-U.S. institution. These subsidiaries are referenced in connection with the Enerflex securities held under Royal Bank of Canada’s beneficial ownership.

What type of filing did Royal Bank of Canada submit regarding Enerflex (EFXT)?

Royal Bank of Canada submitted an amendment to Schedule 13G, a beneficial ownership report. This form is used by certain investors to report holdings in a company when the shares are held for investment purposes rather than to influence corporate control.