STAR Park Forum September 2013

Who We Are Through its global network, Thermon provides highly engineered thermal solutions, known as heat tracing, for process industries, including energy, chemical processing and power generation. Thermon's products provide an external heat source to pipes, vessels and instruments for the purpose of freeze protection, temperature maintenance, environmental monitoring and surface snow and ice melting. Thermon is headquartered in San Marcos, Texas. For more information, please visit Market Share (3) 2 (1)Results for nine months ended 3/31/2013 (2)‘Other’ category includes all sales to Agents and Representatives, as well as sales to end-markets such as Mining, Food & Beverage, Wastewater Treatment, Textiles, LNG, Pharmaceuticals and Pulp & Paper (3)From an analysis prepared by Alvarez & Marsal, February 2013 (4)Formerly Tyco Thermal Controls End-Markets (1) Geography (1)

What is Heat Tracing? Transformer Power Distribution / Control Panel Conduit and Wire Heating Cable / Power Connection RTD/Temperature Sensor Communication Software Thermal Insulation 3

Global Footprint Provides Access to High-Growth Markets Worldwide Global footprint, local presence ─ Sales in more than 90 countries worldwide ─ Over 800 employees in more than 15 countries (380 full-time employees in San Marcos) ─ Over 100 independent sales agents and distributors in over 30 countries ─ Manufacturing facilities in the U.S., Europe, Canada and India Source: Heat tracing market analysis prepared by Alvarez & Marsal, April Canada: Thermon #1 USA: Thermon #2 Mexico: Thermon #1 South America: Thermon #2 Europe: Thermon #2 Russia: Thermon #2 Japan: Thermon #1 Korea: Thermon #1 China: Thermon #2 India: Thermon #1 4

Customer Case Studies Greenfield: Imperial Oil’s Kearl Oil Sands Project MRO / UE: Irving Oil Project Original contract value of $6.3 million Recurring revenue generated by small site projects and material purchases ─ Average annual revenue continues to be approximately $0.5 million, or 7.5% of original contract value Total feet of heat tracing: % of total pipes traced: Total heat tracing expenditure: Total project cost: Phase 1Phase 2 ~1.5 million ~44% ~$64 million ~$8 billion ~2.0 million ~47% ~$58 million ~$9 billion 5

Customer Case Studies Sakhalin Island: ExxonMobil’s Arkutun-Dagi Project Emissions Monitoring: Calaveras Power’s J.K. Spruce 2 Upgrade Total feet of heat tracing: % of total pipes traced: Total heat tracing expenditure: Total project cost: 350,000 40% $14 million ~$1.5 billion Total feet of tubing bundles: Total tubing bundle expenditure: Total emissions monitoring upgrade cost: 1,975 $89,000 $750,000 6

Serving a Large and Diverse Base of Loyal Customers 7 No customer represents > 10% of the Company’s revenue Loyal Relationships with Customers and Strategic Partners, Some for 50+ Years

Impressive Financial Performance ($ Millions) 8 Revenue CAGR: 8.4% Average Gross Margin: 44% Note: Results for fiscal years ended March 31. Gross margin results for fiscal years ended March 31, 2008 and 2011 exclude non-cash purchase accounting adjustments of $7.1 million and $7.6 million related to the Audax and CHS private equity transactions, respectively. 6-Year Revenue CAGR: 14.7% Revenue Growth and Consistent Margins Since Year Average Gross Margin: 47%

Manufacturing Capacity Increase New manufacturing facility recently completed; approximately 48,000 square ft We estimate that the increased production capacity resulting from this expansion will support growth to a revenue threshold of $400-$500 million. 9

Manufacturing Capacity Increase Recently completed a total upgrade of manufacturing facility now dedicated exclusively to our panel production; approximately 25,000 square ft The increased production capacity resulting from this upgrade will allow us to take full advantage of the release of our new control system by building more of these systems in-house. 10

Platform for Growth Pursue Organic Growth, Including Commercial Market, Steam-to-Electric Conversion and Re-Invest in Business Leverage Installed Base to Expand Recurring Revenue Stream Drive Growth Through Alliances with Major Customers and Suppliers Support Alternative Energy Initiatives and Environmental Compliance Mandates Pursue Value- Added Acquisitions Next Generation Thermal Control Products & Solutions 11

Thank You! 12