Enerflex and Exterran to Combine, Creating a Premier Integrated Global Provider of Energy Infrastructure ALL FIGURES HEREIN PRESENTED IN US DOLLARS UNLESS OTHERWISE NOTED January 24, 2022
Strategic Rationale Creates a Premier Integrated Global Provider of Energy Infrastructure Geographic balance with 25-35% of revenues from each of North America, the Middle East, and Latin America Accesses a larger, more diverse…
Transaction Overview Enerflex to combine with Exterran in an all-share transaction Each outstanding share of common stock of Exterran to be exchanged for 1.021 common shares of Enerflex The transaction value for Exterran is US735…
Enhanced Presence in Key Growth Regions Highly complementary business lines and expanded offerings across key growth regions Focused on four key geographies: North America, Middle East/Africa, Asia Pacific, and Latin America. Each…
Operationally Advantaged Pro forma Enerflex has expanded depth and technical expertise in both natural gas and energy transition solutions Pro Forma Business Lines Energy Infrastructure Any solution on a leased basis, including…
Expanded Product Lines Target Multiple End Markets Combined entitys deep expertise in modular equipment benefits three distinct markets each with significant growth prospects Natural Gas Energy Transition Water All produced gas…
Accelerated Growth of Recurring Margin Balanced contribution across recurring segments and manufacturing enhances resiliency Gross Margin % Business Drivers US500 - 600 million Demand for new natural 20-30% Engineered Systems /…
Synergies Accelerate Free Cash Flow Generation At least US40 million annual run rate synergies from reductions in overhead and operational efficiencies Overhead Optimized structuring of management and corporate support teams At…
Enhanced Scale and Improved Capital Markets Relevance The combined entity benefits from improved size and scale, increasing its relevance to capital markets All Values in USMM Enterprise Value (1) Enterprise Value(1) vs. LTM Adjusted…
Capital Structure Long-term, stable capital structure with ample liquidity Capital Structure 09/30/2021 (1) In USD millions Enerflex Exterran Pro Forma US600 million 3-year secured Revolving Secured Debt ABL 33 - - Credit…
Pro Forma Outlook Funding of in-flight growth projects will result in near-term call on cash before meaningful excess free cash flow generation in 2023+ All Values in USMM Adjusted EBITDA Committed Capex and Work-in-Progress(1) 600…
Go Forward Capital Allocation Philosophy Following 2022s capital project commitments, capital allocation in 2023+ will prioritize: balance sheet strength, sustainable shareholder returns, and growth Maintain ample liquidity, targeting…
Committed to Sustainability Enerflexs pro forma business lines together with its environmental, social, and governance processes reinforce its commitments to corporate sustainability Environmental Social Governance Core products…
Positioned for Success Combination enhances shareholder value PREMIER GLOBAL BALANCED & PREDICTABLE OPTIMIZED EFFICIENCY & PLATFORM EARNINGS LOWER COST OF BUSINESS Focused on four key 70/30 split of Expect US40 million growth…
Investor Relations Contacts For Enerflex inquiries: Stefan Ali Vice President, Strategy and Investor Relations Enerflex Ltd. salienerflex.com +1-403-717-4953 For Exterran inquiries: Blake Hancock Vice President of Finance FP&A,…
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