1

Thermal Energy International is a global supplier of proprietary energy efficiency

and emissions reduction solutions to the industrial and institutional sectors. The

company’s products reduce its customers’ energy bills while also reducing their

carbon emissions. The company’s customers include Fortune 500 and other

leading multinational companies across many industries.

Thermal Energy International (CVE: TMG) | Company Profile

Investment Highlights:

Large, fast-growing global market

with strong fundamentals

Proprietary and proven energy

efficiency solutions

Low capital intensity business model

Poised for growth

TMG $0.04 (as at August 15, 2016)

52 week range: $0.03 to $0.065

Total shares: 161,044,616

Market cap: $6,441,785

Total debt: Nil*

* as at February 29, 2016

Website: www.thermalenergy.com

2

Thermal Energy International (CVE: TMG) | Global Market Opportunity

1 2015 International Energy Agency.

32% of the $68 trillion world energy

sector investment2 MarketsandMarkets’ Report on Waste

Heat Recovery System Market3 Future Market Insights. Waste heat

Recovery Systems Market: APAC

Industry Analyst and Opportunity

Assessment

.

$21.8 trillion

Expected to be invested in end-use energy efficiency

from 2015 to 20401

20% to 50%

of industrial energyconsumption is lost

as waste heat2

12.3% CAGR

Expected growth in the global waste heat recovery systems market from 2014 to 20203

Cost of energy efficiency vs. new energy supply

3

($000’s) FY 2013 FY 2014 FY 2015 YTD 2016

Revenue 8,210 13,151 6,800 8,279

Gross Profit 4,977 6,974 3,628 4,746

EBITDAS (435) 879 (2,049) 187

Net Income (2,849) 634 (2,155) (9)

Annual Results 9 Months

Thermal Energy International (CVE: TMG) | YTD 2016 Vs Annual Historical

4

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

$80.0

$90.0

$100.0

$110.0

$120.0

Jun 2014 Aug 2014 Nov 2014 Feb 2015 May 2015 Aug 2015 Nov 2015 Feb 2016

Qu

arte

rly

Re

ven

ue

($C

AD

)

Cru

de

Oil

/ b

bl(

$U

SD)

Crude Oil Price / bbl TMG Quarterly RevenueNatural Gas Price / MMbtu

Nat

ura

l Gas

/ M

Mb

tu($

USD

)

$6.0

$5.0

$4.0

$3.0

$2.0

$1.0

$0.0

$1.17M

Q1 2015

$1.66M

Q2 2015 $1.44M

Q3 2015

$2.53M

Q4 2015

$2.56M

Q1 2016

$2.50M

Q2 2016

$3.22M

Q3 2016

Thermal Energy International (CVE: TMG) | Revenue Vs Fuel Prices

5

Q-o-Q Growth120%

Q-o-Q Growth

51%

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$0.00

$0.02

$0.04

$0.06

$0.08

$0.10

$0.12

$0.14

May-2013 Sep-2013 Jan-2014 May-2014 Sep-2014 Jan-2015 May-2015 Sep-2015 Jan-2016

LTM

Re

ven

ue

(C

AD

)

Shar

e P

rice

(C

AD

)

$0.03

$0.13

Increase of 333% in 10 months

TMG Stock PriceTMG LTM Revenue

Significant Potential Upside

$8.9M

$11.6M $10.3M

$13.2M $12.8M

$10.4M

$9.0M

$6.8M

$8.2M

$9.0M

$10.8M

Thermal Energy International (CVE: TMG) | Revenue Vs Share Price