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Enerflex

2,000 employees worldwide are driving
strong annual and quarterly results.

International revenue accounted for 27% of
    total revenue in 2004 and is a key component
    of the Company’s plans for growth. In 2004,
    the Company’s international efforts to provide
    single-source solutions by cross-selling
    divisional expertise proved successful as
    Enerflex was awarded a number of projects
    involving multiple Enerflex divisions.

Improved cost controls and internal
improvements drove record setting high net
income.

Operations

Syntech’s Integrated Control and Information
    Systems (“ICIS”) was launched, providing
    customers detailed, global command of
    what’s happening throughout their entire oil and
    gas operations.

Canadian operations continued to build market
    share by introducing new products and diversifying
    into niche markets such as the oil sands and the
    emerging coal-bed methane market.

Over the next decade, pipelines the world over will
    move more than 118 trillion cubic feet of natural
    gas per year to meet soaring demand. Enerflex
    plans to be a vital part of this worldwide energy
    picture.

Financials

2004 results are stronger across the
    board: $557.1 million in revenues;
    22.5% gross margin and earnings
    of $1.43 per diluted share.

During the fourth quarter of 2004,
    Enerflex generated its highest
    quarterly revenue. This contributed
    to a year in which Enerflex saw a
    57% increase in net income.