Thermon Group Holdings Investor Presentation — February 2022

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THERMON GROUP HOLDINGS, INC.

EARNINGS PRESENTATION

T H I R D Q U A R T E R F I S C A L 2 0 2 2

F E B R U A R Y 3 , 2 0 2 2

CAUTIONARY NOTE REGARDING FORWARD -LOOKING STATEMENTS

This presentation may include forward -looking statements within the meaning of the U.S. federal securities laws in addition to h istorical information. These forward -looking statements are made pursuant

to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward -looking statements include, without limitation, statements regarding our industry, business strategy,

plans, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures , liquidity and capital resources and other financial and operating information

such as our Fiscal 2022 full -year guidance and five -year long term goals. When used herein, the words "anticipate," "assume," "believe," "budget," "continue," "contemplate," "could," "should" "estimate,"

"expect," "intend," "may," "plan," "possible," "potential," "predict," "project," "will," "would," "future," and similar term s and phrases are intended to identify forward -looking statements in this presentation.

Forward -looking statements reflect our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Some of these expectations may be based upon

assumptions, data or judgments that prove to be incorrect. In addition, our business and operations involve numerous risks an d uncertainties, many of which are beyond our control, which could result in

our expectations not being realized or otherwise materially affect our financial condition, results of operations and cash fl ows .

Actual events, results and outcomes may differ materially from our expectations due to a variety of factors. Although it is n ot possible to identify all of these factors, they include, among others, ( i) the

outbreak of the novel strain of coronavirus (COVID -19); (ii) general economic conditions and cyclicality in the markets we serve ; (iii) future growth of energy, chemical processing and power generation

capital investments; (iv) our ability to operate successfully in foreign countries; (v) our ability to deliver existing orders w ithin our backlog; (vi) our ability to bid and win new contracts; (vii) the imposition of

certain operating and financial restrictions contained in our debt agreements; (viii) tax liabilities and changes to tax policy; (ix) our ability to successfully develop and improve our products and successfully

implement new technologies; (x) competition from various other sources providing similar heat tracing and process heating produc ts and services, or alternative technologies, to customers; (xi) our