Interim Condensed Consolidated Financial Statements

Interim Condensed Consolidated Statements of Financial Position (unaudited)


($ United States millions)	Notes	September 30, 2025			December 31, 2024
Assets
Current assets
Cash and cash equivalents		$	64		$	92
Accounts receivable	2a		458			398
Unbilled revenue	2b		160			157
Energy infrastructure (“EI”) assets - finance leases receivable	3b		59			49
Inventories	4		329			258
Inventories - work-in-progress ("WIP") related to EI assets - finance leases receivable	4		2			35
Income taxes receivable			8			3
Derivative financial instruments			1			-
Prepayments			46			49
Total current assets			1,127			1,041
Unbilled revenue	2b		1			2
Property, plant and equipment ("PP&E")			100			96
EI assets - operating leases	3a		688			713
EI assets - finance leases receivable	3b		191			189
Lease right-of-use assets			62			58
Deferred tax assets			22			24
Intangible assets			31			37
Goodwill			428			422
Other assets	5		205			209
Total assets		$	2,855		$	2,791
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable and accrued liabilities		$	471		$	413
Provisions			17			22
Income taxes payable			51			79
Deferred revenue	6		347			375
Lease liabilities			22			22
Derivative financial instruments			1			-
Total current liabilities			909			911
Deferred revenue	6		15			11
Long-term debt	7		648			708
Lease liabilities			51			47
Deferred tax liabilities			46			48
Other liabilities			31			17
Total liabilities		$	1,700		$	1,742
Shareholders’ equity
Share capital	8	$	499		$	505
Contributed surplus	9		664			678
Retained earnings			191			80
Accumulated other comprehensive loss			(199	)		(214	)
Total shareholders’ equity			1,155			1,049
Total liabilities and shareholders’ equity		$	2,855		$	2,791

See accompanying notes to the unaudited interim condensed consolidated financial statements.


	F-1

Interim Condensed Consolidated Statements of Earnings and Comprehensive Income (Loss) (unaudited)


		Three months ended September 30,						Nine months ended September 30,
($ United States millions, except per share amounts)	Notes	2025			2024			2025			2024
Revenue	10,12	$	777		$	601		$	1,944		$	1,853
Cost of goods sold ("COGS")	12		605			460			1,505			1,489
Gross margin			172			141			439			364
Selling, general and administrative expenses ("SG&A")	11,12		71			82			189			235
Foreign exchange ("FX") (gain) loss			(1	)		2			1			6
Operating income			102			57			249			123
Equity earnings and impairment of associates and joint ventures	5		(4	)		-			(3	)		-
(Loss) on financial instruments			-			(2	)		(2	)		(10	)
Unrealized gain (loss) on redemption options			(16	)		19			(4	)		19
Earnings before finance costs and income taxes (“EBIT”)			82			74			240			132
Net finance costs	13		20			23			61			72
Earnings before income taxes (“EBT”)			62			51			179			60
Current income taxes			20			24			56			60
Deferred income taxes			5			(3	)		2			(17	)
Income taxes			25			21			58			43
Net earnings		$	37		$	30		$	121		$	17

Other comprehensive income (loss)
Items that may be reclassified to profit or loss in subsequent periods:
Change in fair value of derivatives designated as cash- flow hedges, net of income tax recovery			(1	)		-			(1	)		-
(Gain) loss on derivatives designated as cash flow hedges transferred to net earnings, net of income tax expense			-			-			-			1
Unrealized gain (loss) on translation of foreign- denominated debt			(10	)		8			22			(13	)
Unrealized gain (loss) on translation of financial statements of foreign operations			12			(2	)		(6	)		4
Other comprehensive income (loss)			1			6			15			(8	)
Total comprehensive income		$	38		$	36		$	136		$	9

Earnings per share – basic		$	0.30		$	0.24		$	0.98		$	0.14
Earnings per share – diluted		$	0.30		$	0.24		$	0.98		$	0.14

Weighted average number of shares outstanding – basic			122,252,809			124,044,811			123,218,877			124,005,873
Weighted average number of shares outstanding – diluted			122,363,450			124,155,265			123,403,977			124,109,107

See accompanying notes to the unaudited interim condensed consolidated financial statements.


F-2 Interim Condensed Consolidated Financial Statements

Interim Condensed Consolidated Statements of Cash Flows (unaudited)


		Three months ended September 30,						Nine months ended September 30,
($ United States millions)	Notes	2025			2024			2025			2024
Operating Activities
Net earnings		$	37		$	30		$	121		$	17
Items not requiring cash and cash equivalents:
Depreciation and amortization			40			48			121			140
Equity earnings and impairment of associates and joint ventures	5		4			-			3			-
Deferred income taxes			5			(3	)		2			(17	)
Share-based compensation expense	11		11			5			11			13
Loss on financial instruments			-			2			2			10
Unrealized (gain) loss on redemption options			16			(19	)		4			(19	)
Impairment of EI assets	3a		2			-			2			-
			115			63			266			144
Net change in working capital and other	15		(41	)		35			(100	)		67
Cash provided by operating activities		$	74		$	98		$	166		$	211

Investing Activities
Additions to:
PP&E		$	(6	)	$	(4	)	$	(14	)	$	(11	)
EI assets - operating leases	3a		(27	)		(12	)		(67	)		(32	)
Intangible assets			-			-			-			(1	)
Proceeds on disposal of:
PP&E			1			-			1			-
EI assets - operating leases			6			1			19			3
Net proceeds (purchases) of financial instruments			3			(2	)		(2	)		1
Net change in working capital associated with investing activities			(7	)		2			(3	)		1
Cash used in investing activities		$	(30	)	$	(15	)	$	(66	)	$	(39	)
Financing Activities
Net repayment of the Revolving Credit Facility	7	$	(33	)	$	(107	)	$	(75	)	$	(17	)
Repayment of the Term Loan			-			-			-			(130	)
Lease liability principal repayment			(5	)		(5	)		(16	)		(15	)
Dividends			(3	)		(2	)		(13	)		(7	)
Stock option exercises			1			-			2			1
Shares repurchased - NCIB	8, 9		(8	)		-			(22	)		-
Deferred transaction costs			(2	)		-			(2	)		(1	)
Cash used in financing activities		$	(50	)	$	(114	)	$	(126	)	$	(169	)
Effect of exchange rate changes on cash and cash equivalents denominated in foreign currencies		$	(1	)	$	-		$	(2	)	$	(3	)
Decrease in cash and cash equivalents			(7	)		(31	)		(28	)		-
Cash and cash equivalents, beginning of period			71			126			92			95
Cash and cash equivalents, end of period		$	64		$	95		$	64		$	95

See accompanying notes to the unaudited interim condensed consolidated financial statements.


	F-3

Interim Condensed Consolidated Statements of Changes in Equity (unaudited)


										Accumulated other comprehensive losses
($ United States millions)	Share capital			Contributed surplus			Retained earnings			Foreign currency translation adjustments			Hedging reserve			Total
At January 1, 2025	$	505		$	678		$	80		$	(214	)	$	-		$	1,049
Net earnings		-			-			121			-			-			121
Other comprehensive income (loss)		-			-			-			16			(1	)		15
Effect of stock option plans		3			(1	)		-			-			-			2
Shares repurchased - NCIB		(9	)		(13	)		-			-			-			(22	)
Dividends		-			-			(10	)		-			-			(10	)
At September 30, 2025	$	499		$	664		$	191		$	(198	)	$	(1	)	$	1,155
At January 1, 2024	$	504		$	678		$	58		$	(185	)	$	(1	)	$	1,054
Net earnings		-			-			17			-			-			17
Other comprehensive income (loss)		-			-			-			(9	)		1			(8	)
Effect of stock option plans		1			-			-			-			-			1
Dividends		-			-			(7	)		-			-			(7	)
At September 30, 2024	$	505		$	678		$	68		$	(194	)	$	-		$	1,057

See accompanying notes to the unaudited interim condensed consolidated financial statements.


F-4 Interim Condensed Consolidated Financial Statements

Notes to the Interim Condensed Consolidated

Financial Statements (unaudited)

(All amounts in millions of United States dollars, except per share amounts or as otherwise noted.)

Note 1. Summary of Material Accounting Policies

(a)

Statement of Compliance

These unaudited interim condensed consolidated financial statements (“Financial Statements”) have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) applicable to the preparation of interim financial statements and were approved and authorized for issue by the Board of Directors (the “Board”) on November 5, 2025.

(b)

Basis of Presentation and Measurement

The Financial Statements for the three and nine months ended September 30, 2025 and 2024 were prepared in accordance with IAS 34 “Interim Financial Reporting” and do not include all the disclosures included in the annual consolidated financial statements for the year ended December 31, 2024. Accordingly, these Financial Statements should be read in conjunction with the annual consolidated financial statements. Certain comparative figures have been reclassified to conform to the current period’s presentation.

Preparation of these Financial Statements requires Management to make judgments, estimates, and assumptions based on existing knowledge that affect the application of accounting policies and reported amounts and disclosures. Actual results could differ from these estimates and assumptions. In particular, the impact of geopolitical events, such as imposed tariffs in the North American market, could materially impact customer and supplier arrangements, as well as interest and inflation rates, resulting in increased volatility and near-term uncertainty. Management has, to the extent reasonable, incorporated known facts and circumstances into estimates made, however actual results could differ from those estimates, and those differences could be material. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

The Financial Statements are presented in United States dollars ("USD"), Enerflex Ltd. ("Enerflex" or the "Company") presentation currency, rounded to the nearest million except per share amounts or as otherwise noted. Transactions of the Company’s individual entities are recorded in their own functional currency based on the primary economic environment in which it operates. The Financial Statements are prepared on a going concern basis under the historical cost basis with certain financial assets and financial liabilities recorded at fair value. There have been no significant changes in accounting policies compared to those described in the annual consolidated financial statements for the year-ended December 31, 2024, except for the change as per note 1(c) below.

(c)

Change in Accounting Policies

Amendments to Current Accounting Policies

IAS 21 The Effects of Changes in Foreign Exchange Rates (“IAS 21”)

In August 2023, the IASB issued amendments to IAS 21 which specify how an entity should assess whether a currency is exchangeable and how to estimate the spot exchange rate when a currency is not exchangeable.

Under the amendment, a currency is considered to be exchangeable into another currency when an entity is able to obtain the other currency within a timeframe that allows for a normal administrative delay and through a market or exchange mechanism in which an exchange transaction would create enforceable rights and obligations. When a currency is not exchangeable, an entity estimates the spot rate as the rate at which an orderly transaction would take place between market participants at the measurement date that would reflect the prevailing economic conditions.


	F-5

An entity is required to disclose information that would enable users to evaluate when and how a currency's lack of exchangeability affects financial performance, financial positions, and cash flows of an entity.

The amendment is effective for annual periods beginning on or after January 1, 2025, and has been adopted by the Company. There was no adjustment that resulted from its adoption on January 1, 2025.

Note 2. Accounts Receivable and Unbilled Revenue

(a) Accounts Receivable

Accounts receivable consisted of the following:


	September 30, 2025			December 31, 2024


Trade receivables	$	453		$	400

Less: allowance for doubtful accounts		(10	)		(11	)


Trade receivables, net	$	443		$	389

Other receivables		15			9


Accounts receivable	$	458		$	398

Aging of trade receivables:


	September 30, 2025		December 31, 2024


Current to 90 days	$	370	$	308

Over 90 days		83		92


Trade receivables	$	453	$	400

(b) Unbilled Revenue

Movement in Unbilled Revenue was as follows:


	Nine months ended			Twelve months ended
	September 30, 2025			December 31, 2024
Opening balance	$	159		$	309
Unbilled revenue recognized		566			766
Amounts billed		(565	)		(753	)
Transfer to other assets		-			(161	)
Currency translation effects		1			(2	)
Closing balance	$	161		$	159

Current unbilled revenue	$	160		$	157
Non-current unbilled revenue		1			2
Total unbilled revenue	$	161		$	159


F-6 Notes to the Interim Condensed Consolidated Financial Statements

Note 3. Energy Infrastructure Assets

The Company’s EI assets are comprised of Build-Own-Operate-Maintain (“BOOM”) assets and contract compression assets which are leased to client partners. At the inception of a lease contract, all leases are classified as either an operating lease or a finance lease in accordance with IFRS.

(a)

EI Assets – Operating Leases

EI assets under lease arrangements that are classified and accounted for as operating leases are stated at cost less accumulated depreciation and impairment losses. The estimated useful lives of these assets are generally between five and 30 years.

A reconciliation of the changes in the carrying amount of EI assets is as follows:


	Nine months ended			Twelve months ended
	September 30, 2025			December 31, 2024
Cost
Balance, January 1	$	1,059		$	1,142
Additions		67			59
Reclassification		(2	)		-
Disposals1		(23	)		(119	)
Currency translation effects		14			(23	)
Total cost	$	1,115		$	1,059
Accumulated depreciation
Balance, January 1	$	(346	)	$	(278	)
Depreciation charge		(82	)		(111	)
Impairment		(2	)		(1	)
Disposals1		14			27
Currency translation effects		(11	)		17
Total accumulated depreciation	$	(427	)	$	(346	)
Net book value	$	688		$	713

1 During the three months ended March 31, 2024, disposals include reclassification of a BOOM asset from an operating to a finance lease as a result of a contract modification.

Depreciation of EI assets - operating leases included in COGS for the three and nine months ended September 30, 2025, was $27 million and $82 million (September 30, 2024 - $29 million and $85 million).

Impairment of EI assets - operating leases included in COGS for the three and nine months ended September 30, 2025, was $2 million and $2 million (September 30, 2024 - nil and less than $1 million).

During the three and nine months ended September 30, 2025, the Company recognized $49 million and $149 million of revenue related to operating leases in its Latin America (“LATAM”) and Eastern Hemisphere (“EH”) segments (September 30, 2024 – $59 million and $170 million), and $39 million and $113 million of revenue related to its North America (“NAM”) contract compression fleet (September 30, 2024 – $36 million and $107 million).

A summary of the carrying amount of EI assets by reporting segment is as follows:


EI assets - operating leases	September 30, 2025		December 31, 2024
NAM	$	302	$	286
LATAM		169		185
EH		217		242
Closing balance	$	688	$	713


	F-7

(b)

EI Assets - Finance Leases Receivable

Lease arrangements for certain EI assets are considered finance leases when the risks and rewards of ownership are transferred to the lessee, which generally occurs in the following circumstances: ownership of the lease is transferred to the lessee by the end of the lease term; the lessee has the option to purchase the leased asset at a price that is sufficiently lower than the fair value at the date the option becomes exercisable for it to be reasonably certain, at the inception date, that option will be exercised; the term of the lease is for the major part of the economic life of the asset; or the present value of the lease payments amounts to substantially all of the fair value of the asset.

The majority of Enerflex's finance leases, which are primarily attributable to the EH reporting segment, have an initial term ranging from five to 10 years.

A summary of the gross and present value of future lease payments to be received under the Company's finance leases is shown below:


	Minimum lease payments and unguaranteed residual value						Present value of minimum lease payments and unguaranteed residual value
	September 30, 2025			December 31, 2024			September 30, 2025		December 31, 2024
Less than one year	$	62		$	49		$	59	$	49
Between one and five years		211			188			169		145
Greater than five years		39			54			22		44
	$	312		$	291		$	250	$	238
Less: Unearned interest revenue		(62	)		(53	)		-		-
Closing balance	$	250		$	238		$	250	$	238


	Nine months ended			Twelve months ended
	September 30, 2025			December 31, 2024
Opening balance	$	238		$	204
Additions1		38			87
Interest revenue		14			22
Payments (principal and interest)		(40	)		(73	)
Other		-			(2	)
Closing balance	$	250		$	238

1During the three months ended March 31, 2024, additions included the conversion of a BOOM asset, which was previously accounted for as an operating lease, to a finance lease as a result of a contract modification.

The Company recognized non-cash selling profit related to the commencement of finance leases of $14 million for the three and nine months ended September 30, 2025 (September 30, 2024 – nil and $3 million).

The average interest rates implicit in the leases are fixed at the contract date for the entire lease term. At September 30, 2025, the average interest rate was 7.6% per annum (December 31, 2024 – 7.6%). The finance leases receivable at the end of the reporting period were neither past due nor impaired.


F-8 Notes to the Interim Condensed Consolidated Financial Statements

Note 4. Inventories

Inventories consisted of the following:


	September 30, 2025		December 31, 2024
Direct materials	$	135	$	85
Repair and distribution parts		95		94
Work-in-progress		82		62
Equipment		17		17
Total inventories	$	329	$	258


	September 30, 2025		December 31, 2024
WIP related to EI assets - finance leases receivable	$	2	$	35

COGS includes inventory write-downs pertaining to obsolescence and aging, and recoveries of past write-downs upon disposition. The net change in inventory reserves charged to consolidated statements of earnings and included in COGS for three and nine months ended September 30, 2025 was less than $1 million and $2 million (September 30, 2024 - less than $1 million and $1 million).

The cost related to construction of EI assets determined to be finance leases are accounted for as work-in-progress related to finance leases. Once a project is completed and enters service, it is classified to COGS.

Note 5. Other Assets

Other assets consisted of the following:


	September 30, 2025		December 31, 2024
Project asset	$	161	$	161
Investment in associates and joint ventures (a)		25		26
Redemption option		13		17
Prepaid deposits		6		5
Total other assets	$	205	$	209

(a) During the three and nine months ended September 30, 2025, the Company recognized less than $1 million and $1 million in equity earnings from associates and joint ventures (September 30, 2024 - less than $1 million and loss of less than $1 million). During the three and nine months ended September 30, 2025, the Company recognized a $4 million impairment of its investment in associates and joint ventures (September 30, 2024 - nil).

Note 6. Deferred Revenue

Changes in deferred revenue were as follows:


	Nine months ended			Twelve months ended
	September 30, 2025			December 31, 2024

Opening balance	$	386		$	319

Cash received in advance of revenue recognition		492			1,067

Revenue subsequently recognized		(517	)		(996	)

Currency translation effects		1			(4	)


Closing balance	$	362		$	386



Current deferred revenue	$	347		$	375

Non-current deferred revenue		15			11


Deferred revenue	$	362		$	386


	F-9

Note 7. Long-Term Debt

Long-term debt comprised of USD denominated Senior Secured Notes (the "Notes") and the three-year secured revolving credit facility (“RCF”) with both USD and Canadian dollar ("CAD") components.

Composition of the borrowings on the Notes and RCF were as follows:


	Maturity Date	September 30, 2025			December 31, 2024
Notes	October 15, 2027	$	563		$	563
Drawings on the RCF	July 11, 2028		119			191
			682			754
Deferred transaction costs and Notes discount			(34	)		(46	)
Long-term debt		$	648		$	708

Non-current portion of long-term debt			648			708
Long-term debt		$	648		$	708

The Notes have a maturity date of October 15, 2027, and bear interest at 9.0% per annum payable semi-annually in arrears.

The RCF has a maturity date of July 11, 2028 (the "Maturity Date"). The Company's limit under the RCF is $800 million, which may be increased by $50 million at the request of the Company, subject to the lenders’ consent. The Maturity Date of the RCF may be extended annually on or before the anniversary date with the consent of the lenders.

As part of the RCF, the Company may request issuance of up to $150 million in letters of guarantee, standby letters of credit, performance bonds, counter guarantees, import documentary credits, country standby letters of credit, or similar credits to finance the day-to-day operations of the Company. As at September 30, 2025, the Company utilized $87 million of this $150 million limit. The Company has an additional $70 million unsecured credit facility (“LC Facility”) with one of the lenders in its RCF. This LC Facility allows the Company request the same forms of credits as under the RCF. This LC Facility is supported by performance security guarantees provided by Export Development Canada. As at September 30, 2025, the Company had utilized $29 million of the $70 million available limit.

The weighted average interest rate on the RCF for the nine months ended September 30, 2025 was 5.8% (December 31, 2024 - 7.4%). At September 30, 2025, without considering renewal at similar terms, the USD equivalent principal payments due over the next five years are $682 million, and nil thereafter.

The Company is required to maintain certain covenants on the RCF and the Notes. As at September 30, 2025, the Company was in compliance with its covenants, as shown below:


		For the nine months ended on September 30
	2025				2024
	Requirement	Performance			Performance
Senior secured net funded debt to EBITDA ratio1 – Maximum	2.5x		0.1	x	0.3x
Bank-adjusted net debt to EBITDA ratio2 – Maximum	4.0x		1.2	x	1.9x
Interest coverage ratio3 – Minimum	2.5x		6.1	x	4.2x

1 Senior secured net funded debt to EBITDA is defined as borrowings under the RCF less cash and cash equivalents divided by trailing 12-month EBITDA, as defined by the Company’s lenders.

2 Bank-adjusted net debt to EBITDA is defined as borrowings under the RCF and Notes less cash and cash equivalents divided by the trailing 12-month EBITDA, as defined by the Company’s lenders.

3Interest coverage ratio is calculated by dividing the trailing 12-month EBITDA, as defined by the Company’s lenders, by interest expense over the same timeframe.


F-10 Notes to the Interim Condensed Consolidated Financial Statements

Note 8. Share Capital

The Company is authorized to issue an unlimited number of common shares without par value. Share capital comprises only one class of ordinary shares, carrying one voting right and one right to a dividend.

Changes in share capital were as follows:

Issued and Outstanding


	Nine months ended September 30, 2025						Twelve months ended December 31, 2024

	Number of common shares			Common share capital			Number of common shares		Common share capital


Opening balance		124,143,179		$	505			123,956,865	$	504

Exercise of stock options		437,600			3			186,314		1

Shares repurchased - NCIB		(2,543,600	)		(9	)		-		-


Closing balance		122,037,179		$	499			124,143,179	$	505

Enerflex announced on March 28, 2025, that the Toronto Stock Exchange ("TSX") approved the Company's application to implement a Normal Course Issuer Bid ("NCIB") for a portion of its common shares. Under the NCIB, the Company is authorized to acquire up to a maximum of 6,159,695 common shares or approximately 5% of its public float as at the application date, for cancelation.

The NCIB commenced on April 1, 2025, and will terminate no later than March 31, 2026. Purchases under the NCIB will be made in accordance with applicable regulatory requirements at a price per common share representative of the market price at the time of acquisition.

Enerflex entered into an automatic share purchase plan ("ASPP") with its designated broker that allows for the purchase of common shares during quarterly predetermined blackout periods and other periods when Enerflex may be in possession of material undisclosed information and would not ordinarily be permitted to purchase common shares. Purchases under the ASPP are determined by the designated broker in its sole discretion based on purchasing parameters set by Enerflex when Enerflex is not in blackout and in accordance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the ASPP. Outside of the periods noted above, purchases under the NCIB will be completed at Enerflex's discretion and pursuant to the terms of the ASPP, as may be amended from time to time in accordance with the terms of the ASPP. All common shares purchased under the NCIB will be cancelled. The Company intends to fund the purchases out of its available resources.

During the nine months ended September 30, 2025, the Company repurchased 2,676,200 common shares and cancelled 2,543,600 of those common shares. The difference of 132,600 common shares was held as treasury shares and cancelled subsequent to the period end. The shares were purchased at a volume weighted average price of CAD $10.93 per common share for a total of $22 million. Contributed surplus was reduced by $13 million, which represents the excess of the purchase price of the common shares over their carrying value.

Note 9. Contributed Surplus

Contributed surplus comprised of accumulated stock options less the fair value of the exercised options at the grant date, reclassified to share capital, and repurchase of shares through the NCIB.

Changes in contributed surplus were as follows:


	September 30, 2025			December 31, 2024


Opening balance	$	678		$	678

Exercise of stock options		(1	)		-

Shares repurchased - NCIB		(13	)		-


Closing balance	$	664		$	678


	F-11

Note 10. Revenue

Revenue by product line was as follows:


	Three months ended September 30,				Nine months ended September 30,
	2025		2024		2025		2024
Energy Infrastructure ("EI")	$	164	$	149	$	464	$	519
After-Market Services ("AMS")		118		123		362		371
Engineered Systems ("ES")		495		329		1,118		963
Total revenue	$	777	$	601	$	1,944	$	1,853

Revenue by geographic location, which is based on destination of sale, was as follows:


	Three months ended September 30,				Nine months ended September 30,
	2025		2024		2025		2024
United States	$	312	$	268	$	835	$	825
Canada		97		53		261		178
Oman		157		33		220		190
Argentina		46		51		149		127
Nigeria		24		45		85		109
Australia		27		16		62		49
Mexico		16		19		50		50
Brazil		15		13		44		44
Bahrain		15		11		44		32
Iraq		20		7		37		31
Others		48		85		157		218
Total revenue	$	777	$	601	$	1,944	$	1,853

For the nine months ended September 30, 2025, the Company had no individual customer which accounted for more than 10% of its revenue (September 30, 2024 – nil).

The following table outlines the Company’s unsatisfied performance obligations, by product line, as at September 30, 2025:

Enerflex Ltd. 6-K