Enerflex Ltd.

2025 earnings conference call. At this time all participants are on listen only mode. After the speakers presentation there will be a question and answer session. To ask a question during this session you'll need to press star 1-1 on your telephone. You'll then hear automated message advising your hand is raised. To withdraw your question please press star 1-1 again. Please be advised that today's conference is being recorded. I'll hand the conference over to your first speaker today Jeff Federle, Vice President Corporate Development and Capital Markets. Please go ahead.

Thank you Marvin and good morning everyone. With me today are Preet Dinza, Interim President and CEO, Joe Lettiser, Interim CFO and Ben Park, Interflex's Controller. During today's call our prepared remarks will focus on four key areas. One, the continued strong performance of Interflex's business. Two, our outlook and Interflex's strategic positioning. Three, capital allocation including our refined capital spending program for 2025, indirect returns to shareholders and four, our progress on near and long-term strategic priorities. Before I turn it over to Preet I'll remind everyone that today's discussion will include non IFRS and other financial measures as well as forward-looking statements regarding Interflex's expectations for future performance and business prospects. Forward-looking information involves risks and uncertainties and the stated expectations could differ materially from actual results or performance. For more information refer to the advisory statements within our news release, MD&A and other regulatory filings all available on our website and under our CDAR plus and EDGAR profiles. As part of our prepared remarks we will be referring to slides in our updated investor presentation which is available through a link on this webcast and on our website under the investor relations section. I'll turn it over to Preet.

Thanks Jeff and thank you all for joining us on this morning's call. We are pleased to report another strong quarter of financial and operating results that translated into a quarterly record for adjusted EBITDA. These results reflect solid performance across our geonecres and business lines as well as our ongoing efforts to optimize and streamline our business. Our energy infrastructure and aftermarket services business lines continue to deliver steady performance and reinforce Interflex's ability to generate sustainable returns across our global platform. Energy infrastructure and aftermarket services contributed 65% of gross margin before depreciation and amortization in the second quarter of 2025 and we expect these business lines will continue to represent the core of Interflex's profitability. We also maintain solid visibility on our engineering systems business supported by healthy 1.2 billion dollar backlog at the end of the second quarter. And now a few highlights from each of our business lines. The energy infrastructure business continues to perform well supported by approximately 1.5 billion dollars of revenue under contract. Our US contract compression fleet is an important part of our energy infrastructure asset base and the fundamentals for this business remain strong led by increasing natural gas production in the US. We're also pleased with the operational performance of our US contract compression business reflective of utilization remaining above 90% for the past 14 quarters and solid revenue for horsepower per month and profitability. These KPIs are highlighted in slides 18 and 19 of our investor presentation. Demand for new contract compression equipment in the US remains strong. We exit the quarter with 456,000 horsepower and expect to be over 475,000 horsepower by the end of this year. New units are being deployed under multi-year contracts and core operating regions with a focus on larger horsepower natural gas and electric drive applications. Slides 16 and 17 highlight the international energy infrastructure business which includes approximately 1.1 million horsepower of operating compression and 23 build, own, operate and maintain or boom projects in Bahrain, Oman and Latin America. Our two produced water projects in Oman continue to perform very well and we commission expansion of one project in early Q3 which is highlighted on slide 20. Our international energy infrastructure business is supported by approximately 1.3 billion dollars of contracted revenue and an average contract term for approximately five years. Turning to aftermarket services, this business line benefited from increased activity levels and customer maintenance activities during the quarter. We expect these trends to continue throughout the year of 2025. On the engineered system side we've maintained our backlog at 1.2 billion dollars at the end of the quarter consistent with the eight quarter average ES backlog of approximately 1.2 billion dollars. This sustained level of backlog over a two-year period reflects stable demand for enter flex ES solutions across global energy infrastructure markets. Enter flex recorded ES bookings of 365 million dollars during the three months ended June 30, 2025 compared to $31 million during the same period of 2024 in the eight quarter average of $329 million. ES product line maintained a book to bill ratio calculated as bookings divided by revenue of 1.1 times during the second quarter of 2025 indicating that new bookings are generally keeping pace with revenue recognition. The current balance between bookings and revenue supports near-term revenues visibility that reflects a stable demand environment. We expect ES revenue to remain steady in the near term and for growth margin from this business to align more closely with historical averages reflective of a shift in product mix. Demand across the ES product line remains constructive as we continue to actively monitor near-term risks and insurgencies including the impact of tariffs and commodity price volatility. We believe the median term outlook for ES products and services is attractive supported by anticipated growth in natural gas and produced water volumes across enter flex global footprints. Enter flex priorities in 2025 include enhancing the profitability of core operations, leveraging the company's leading position core operating countries to capitalize unexpected increases in natural gas and produced water volumes and maximizing free cash flow to strengthen enter flex financial position, provide direct shareholder returns and invest in selective customer supported growth opportunities. Before I turn the call over to Jo I'd like to call it briefly on our leadership transition. On March 19th enter flex announced that Mark Rosser stepped down as president CEO and director. Concurrently I assumed the role as interim president CEO and Jo as interim CFO. The board is undertaking a comprehensive search to identify the company's permanent CEO and has retained a leading global search firm to assist with this process. The search is making good progress and will not be and we will not be commenting further. With that I'll turn it over to Jo to speak to the financial side.