Third Quarter 2021 Presentation

COMPANY OVERVIEW

November 2021

FORWARD LOOKING STATEMENTS ADVISORY

This presentation is issued by Enerflex Ltd. ("Enerflex" or the "Company"). This presentation is for information purposes only and is not intended to, and should not be construed to, constitute an offer to sell or the solicitation of an offer to buy securities of Enerflex.

This presentation contains forward-looking information within the meaning of applicable Canadian securities laws. These statements relate to management's expectations about future events, results of operations and the Company's future performance (both operational and financial) and business prospects. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plan", "contemplate", "continue", "estimate", "expect", "intend", "propose", "might", "may", "will", "shall", "project", "should", "could", "would", "believe", "predict", "forecast", "pursue", "potential", "objective" and "capable" and similar expressions are intended to identify forward-looking information. In particular, this presentation includes (without limitation) forward-looking information pertaining to: anticipated financial performance; future capital expenditures, including the amount and nature thereof; bookings and backlog; oil and gas prices and the impact of such prices on demand for Enerflex products and services; development trends in the oil and gas industry; seasonal variations in the activity levels of certain oil and gas markets; business prospects and strategy; expansion and growth of the business and operations, including market share and position in the energy service markets; the ability to raise capital; the ability of existing and expected cash flows and other cash resources to fund investments in working capital and capital assets; expectations regarding future dividends; expectations and implications of changes in government regulation, laws and income taxes; and other such matters. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances.

All forward-looking information in this presentation is subject to important risks, uncertainties, and assumptions, which are difficult to predict and which may affect the Company's operations, including, without limitation: the impact of economic conditions including volatility in the price of oil, gas, and gas liquids, interest rates and foreign exchange rates; industry conditions including supply and demand fundamentals for oil and gas, and the related infrastructure including new environmental, taxation and other laws and regulations; business disruptions resulting from the COVID-19 pandemic; the ability to continue to build and improve on proven manufacturing capabilities and innovate into new product lines and markets; increased competition; insufficient funds to support capital investments required to grow the business; the lack of availability of qualified personnel or management; political unrest; and other factors, many of which are beyond the Company's control. Readers are cautioned that the foregoing list of assumptions and risk factors should not be construed as exhaustive. While the Company believes that there is a reasonable basis for the forward-looking information and statements included in this presentation, as a result of such known and unknown risks, uncertainties and other factors, actual results, performance, or achievements could differ materially from those expressed in, or implied by, these statements. The forward-looking information included in this presentation should not be unduly relied upon. For an augmented discussion of the risk factors and uncertainties that affect or may affect Enerflex, the reader is directed to the section entitled "Risk Factors" in Enerflex's most recently filed Annual Information Form, as well as Enerflex's other publicly filed disclosure documents, available through the SEDAR website (www.sedar.com).

The forward-looking information contained herein is expressly qualified in its entirety by the above cautionary statement. The forward-looking information included in this presentation is made as of the date of this presentation and, other than as required by law, the Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. This presentation and its contents should not be construed, under any circumstances, as investment, tax or legal advice. Any person accepting delivery of this presentation acknowledges the need to conduct their own thorough investigation into Enerflex before considering any investment in its securities. More complete information pertaining to Enerflex, in particular historical financial information, can be accessed through the SEDAR website (www.sedar.com) or at the Company's website (www.enerflex.com).

All figures in Canadian funds unless otherwise indicated.

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Transforming Natural Gas to Meet The World's Energy Needs

PROVEN TRACK RECORD OF VALUE CREATION

• Focused on growth, maintenance, and handling of produced gas volumes.

• Complementary product lines and regions driving balanced revenue growth.

• Investing in recurring revenue sources to

increase and stabilize margins.

• Strong balance sheet and free cash flow generation through the cycles.

• Proud history dating back to 1980.

EXECUTIVE MANAGEMENT TEAM

Marc Rossiter		Sanjay Bishnoi		Patricia Martinez
President & CEO		SVP, Chief Financial Officer	Chief Energy Transition Officer
				& President, Latin America

David Izett		Greg Stewart		Phil Pyle		Helmuth Witulski
		President, International
SVP, General Counsel		President, USA			President, Canada

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ENERGY ACCESS IS FUNDAMENTAL TO SOCIAL PROGRESS

Per Capita Energy Use vs. United Nations Human Development Index Score

5

Source: World Bank DataBank 2019; U.N. Human Development Reports.