Enerflex Ltd.

Good day and thank you for standing by. Welcome to the UNRFlex first quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone and you will then hear your automated message advising that your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Jeff Federley, Vice President, Corporate Development and Capital Markets. Please go ahead.

Thank you, Jill, and good morning, everyone. With me today are Paul Mahoney, President and CEO, Preet Dhinza, Senior Vice President and CFO, and Ben Park, Enterflex's Controller. During today's call, our prepared remarks will focus on three key areas. One, the continued strong performance of Enterflex's business. two, our outlook for 2026, and three, an update on operational and strategic initiatives. Before I turn it over to Paul, I'll remind everyone that today's discussion will include non-IFRS and other financial measures, as well as forward-looking statements regarding Enerflex'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 investor presentation, which is available through a link on this webcast in our website under the investor relations section. I'll now turn it over to Paul.

Thanks, Jeff, and thank you all for joining us on this morning's call. I would first like to start by acknowledging our people, our client partners, and stakeholders in the Middle East as they navigate the ongoing conflict. The commitment of our team has been on full display as they support one another and our client partners. Turning to Q1. We are pleased to report another strong quarter of operational and financial performance. Results reflect continued discipline execution across our global footprint, as well as our ongoing efforts to optimize and streamline our business. Performance was underpinned by the energy infrastructure and aftermarket services business lines, which generated 65% of adjusted gross margin before depreciation and amortization during the first quarter. The engineered systems business is demonstrating strong execution and commercial momentum, supported by healthy backlog levels and ongoing bidding activity across key markets, particularly in North America. A few comments on each of our business lines. ES bookings of $483 million during Q1 26 compared to a trailing eight-quarter average of $344 million. ES book-to-bill ratio was 1.5 times during Q1 26 and one times on a trailing eight-quarter average, highlighting that the company is consistently replenishing its backlog in line with project execution. The outlook for ES products and services continues to be attractive. driven by expected increases in natural gas, associated liquids, and electric power generation across Enerflex's core operating countries. Enerflex is advancing its electric power generation business, including opportunities associated with data centers. During the quarter, the company was awarded a behind-the-meter power generation project for a data center utilizing reciprocating engine generator sets and secured additional projects supporting island power applications. EnerFlex continues to see strong demand across its engineered systems business line and emerging opportunities for aftermarket services support. With our current scope of opportunities now exceeding five gigawatts. Turning to aftermarket services. This business line continued to reflect steady customer maintenance spending. We are particularly encouraged by the performance of our AMS business in countries where we also operate energy infrastructure assets, highlighting the strength of our integrated offering and competitive positioning in key markets. The energy infrastructure business continues to deliver solid performance, underpinned by approximately $1.3 billion of contracted revenue. Within this segment, Enerflex's U.S. contract compression business is performing well, led by increasing natural gas production in the Permian Basin. Utilization remains stable at 94% across a fleet size of 486,000 horsepower. You can find additional detail on operational KPIs for this segment on slides 15 and 16 of our investor presentation. Enerflex's U.S. contract compression market fleet increased by 13% over the course of 2025, and we continue to expect growth capital expenditures will deliver growth at a similar pace or greater during 2026. Enerflex is also securing long lead time components to support further growth in 2027. Turning to our international energy infrastructure operations, which are outlined on slides 17 and 18. This portfolio is supported by a strong contract position with a weighted average remaining term of approximately five years, providing durable and predictable cash flow that we expect will continue to support Enerflex's financial performance in the years ahead. I'd like to touch briefly on our operations in the Middle East. Enerflex is closely monitoring the conflict and to date, the company's operations in the region have operated uninterrupted. Local teams are actively managing with established response processes and contingency planning, ensuring continued safety of our people and reliability of the company operations. Enerflex's operations in Bahrain and Oman comprise 17 distinct natural gas and produce water projects. Once the conflict in the Middle East finds resolution, we see the potential for opportunities across Enerflex's business lines. Our aftermarket services capabilities are well positioned to support the recovery of operations, and our engineered system solutions enable rapid replacement, de-bottlenecking, and temporary capacity in the reconstruction of energy infrastructure. Enerflex's boom provides flexibility to deploy capital toward rebuilding. Beyond the Middle East, we expect energy security, diversification of supply, and emphasis on domestic resources will be enduring themes for our client partners. We believe this could result in short cycle energy investments increasing in North America and Latin America, especially if oil prices settle above pre-conflict levels. Under this scenario, Enerflex is well positioned with our strong market position in those two regions and see the potential for additional demand across our business. Let me now speak to building momentum around execution. We are advancing the implementation of a disciplined enterprise-wide productivity system. Key elements of this include one, leveraging our full capabilities and scale. Two, a focus on lean and continuous improvement. Three, improving structural cost, competitiveness, and speed of execution. And four, modernizing our IT and automation to enable decision making and speed. We are excited about early wins and the potential impact across the Interflex and look forward to providing updates on our progress. Lastly, I'd like to touch on our strategic priorities. For the past several months, we have been engaging with internal and external partners in a broader assessment of Enerflex's strategy, capabilities, and market opportunities. The outcomes of this work will be shared in more detail at our virtual investor update on May 27th. For today, let me share that Enerflex's approach to long-term value creation will be anchored on strategic growth opportunities aligned with secular growth trends a relentless focus on execution, and a disciplined capital structure and capital allocation framework. With that, I'll turn it over to Preet to speak to the financial highlights.