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Corporate UpdateWilliam Crossland, President & CEO

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Forward looking statements

Certain written and oral statements included in this presentation constitute “forward-looking information”. For example, statements about the opportunities for repeat business, additional orders, entry into new markets and growth of recurring revenue streams; energy savings and payback period experienced by customers; order backlog; introduction of new products and services and the potential for acquisition of complimentary businesses are all forward looking information. Such forward looking information reflects Thermal Energy International’s current expectations with respect to future events and are based on information currently available to management. Forward-looking information involves significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from those that may be expressed or implied by such forward-looking information. Fulfillment of orders, installation and activation of product could all be delayed for a number of reasons, some of which are outside of the company’s control, which would result in anticipated revenues from such projects being delayed or in the most serious cases eliminated. Orders in the company’s backlog may not turn into revenue due to many factors, some of which are outside of the company’s control, including but not limited to the company’s ability to deliver products on time and in accordance with specifications and the continuing financial viability of the customer. Introduction of new products and services and entry into new markets will be subject to company resources and market acceptance and may not result in orders for the company’s products. Information as to amount of heat recovered, energy savings and payback period associated with Thermal Energy International’s products are based on Thermal Energy International’s own testing and average customer results to date. Actual results of Thermal Energy International’s products will vary by installation. Thermal Energy International may never be in a position to acquire complimentary products or businesses or such products or businesses may not be available on reasonable terms. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information contained in this presentation. Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this presentation and Thermal Energy International does not assume any obligation to update or revise it to reflect new events or circumstances, except as required by law.

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Energy CONSERVATION

Emission REDUCTION

FLU-ACE®

Direct contact condensing heat recovery

GEM®

Condensate return systems (steam trap)

Dry RexTM

Low temperature biomass drying from waste heat 10% - 30%

Complete solution provider

16 year track record

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Multinational management team

International sales team (representation in 28

countries)

Extensive list of multinational customers

Global footprint

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Validation across a number of industries

Pharmaceutical 42 sites penetrated with 8 customers that have >350 manufacturing facilities

Food & Beverage >50 sites penetrated with 16 customers that have >1,600 manufacturing facilities

Hospitals 25 different hospitals

Chemical 13 sites penetrated with 6 customers that have >500 manufacturing facilities

Petrochemical 5 sites with 5 customers

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Intensive sales and technical training program

Dire

ct

sale

s for

ceSelf-suffi

cient

distributorsSupported

distribution network

Multifaceted sales strategy

Regional sales

+ Cross-selling

+ Corporate sales

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Successful sales strategy case studies

Multinational pharmaceutical

Metered trial showed 25% cost savings

30 sites installed

~$2.5M in revenue

Major food manufacturer

Metered trial showed < 3 year payback

11 sites installed (within 1 division)

$1.3M in GEM® revenue + $1.5M in heat recovery

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$3.6 million heat recovery project (announced June 3, 2013)

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Strength in pulp & paper industry

$17 million from 5 heat recovery projects since 2006

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Cross selling to pulp & paper

Cross selling GEM® = more opportunity for repeat business

$377k in GEM® orders to existing customers in past 17 months

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~$1.9 millionin heat recovery & GEM® orders from leading Fortune 500 food & beverage company

Repeat business in food & beverage

7 orders to date

Working towards additional heat recovery and GEM® orders at multiple sites

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Largest GEM® order to date

$480k order from another major multinational food & beverage company(announced July 3, 2013)

>10%Energy savings / year

~415 tonnesGreen house gas emission reduction / year

~2 yearsPayback period

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Cross selling to hospitals

$800k in heat recovery & GEM® orders from a major publicly owned hospital (announced June 13, 2013)

29%Energy savings / year

3 yearsPayback period

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$780k in heat recovery & GEM® orders from another publicly owned hospital (announced September 10, 2013)

31%Energy savings / year

2.4 yearPayback period

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Cross selling to hospitals

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Growing pipeline

Record high backlog

Investment in sales and distribution starting to bear fruit

Outlook

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Record high backlog

Current backlog of $8.7M is the largest in our history

Orders backlog (Oct. 2013)

FY 2013 revenue

Oct. 2012 Oct. 2013

$2M

$4M

$6M

$8M

$10M

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2009 2010 2011 2012 2013

# of heat recovery projects in paid development

Heat recovery projects in development

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1717

Growth strategies

Already in progress

Grow sales & distribution capabilities in key markets North America, Europe and

the Middle East Retained leading sales

recruitment & training companies

Cross selling

Develop additional corporate accounts

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Growth strategies

Beginning in the medium term(2-3 years)

Introduce new products & services

Grow recurring revenue streams

Enter new markets South Korea, Japan, Brazil, and

Mexico

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Growth strategies

Beginning in the long term(2-5 years)

Introduce additional new products

Acquire complementary products and businesses

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Summary

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Annual General Meeting October 29, 2013