Enerflex Prevails in Appeal of Mexican Labor Board Decision and Announces Timing of First Quarter Results

CALGARY, Alberta, April 29, 2024 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today provided an update with regard to an ongoing legal proceeding in Mexico.

The Tenth Circuit Collegiate Court on Labor Matters in Mexico (the “Court”) has published a decision setting aside a January 31, 2022 decision of a Labor Board in the State of Tabasco, Mexico (the “Labor Board”) that had ordered subsidiaries of Exterran Corporation (now subsidiaries of Enerflex) to pay a former employee MXN$2,152 million (approximately US$125 million) plus other benefits in connection with a dispute relating to the employee’s severance pay following termination of his employment in 2015.

In rendering its decision, the Court ruled in favor of Enerflex’s arguments that the Labor Board ruling was in error and had no credible basis in law or fact. The matter has now been returned to the Labor Board to issue a new judgement in accordance with the Court's ruling and directives, which support the Company's view that the Labor Board's ultimate resolution will be immaterial to its financial results.

FIRST QUARTER RESULTS

Enerflex plans to release its financial results and operating highlights for the three months ended March 31, 2024 after markets close on Tuesday, May 7, 2024. Results will be communicated by news release and will be available on the Company's website at www.enerflex.com and under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

Effective January 1, 2024, the Company has changed its presentation currency from Canadian dollars to United States dollars to provide more relevant reporting of the Company’s financial position.

Investors, analysts, members of the media, and other interested parties, are invited to participate in a conference call and audio webcast on Wednesday, May 8, 2024 at 8:00 a.m. (MDT), where members of senior management will discuss the Company's results. A question-and-answer period will follow.

To participate, register at https://register.vevent.com/register/BI477ffdfe2ad74d7696d231977d6266e .... Once registered, participants will receive the dial-in numbers and a unique PIN to enter the call. The audio webcast of the conference call will be available on the Enerflex website at www.enerflex.com under the Investors section or can be accessed directly at https://edge.media-server.com/mmc/p/bp85brb7/.