Thermon to Host 2023 Investor Day

Highlights Strategy to Create Long-term Shareholder Value

Increases Fiscal 2026 Financial Targets

AUSTIN, TX / ACCESSWIRE / November 14, 2023 / Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon"), a global leader in industrial process heating solutions, will host its inaugural investor day in New York City today, Tuesday, November 14, 2023 starting at 9:00 a.m. EST. The event will be available via a live webcast on the investor relations section of the Company's website at http://ir.thermon.com and by replay shortly after the event. Presentation materials will also be posted ahead of the event.

Bruce Thames, President and CEO, and Kevin Fox, CFO, will be joined by other members of the executive management team to present an in-depth review of the Company's overall business and strategy, financial performance and outlook, how Thermon is enabling the energy transition, innovation and new product development, and the Company's focus on operational excellence.

"We are thrilled to host our first investor day, which will give the investment community deeper insight into our strategy to create long-term value for our shareholders," said Bruce Thames. "Our mission critical solutions and leading market positions enable us to drive revenue growth and expand our margins, backed by investments in innovation and new product development. We benefit from enhanced productivity through the implementation of the new Thermon Business System and attachment to secular trends that provide meaningful tailwinds for growth. We are also excited to share our long-term strategy, future financial targets, and our plans to accomplish them."

Fiscal Year 2026 Financial Targets

During the investor day, Thermon will update its financial goals for its fiscal year ending on March 31, 2026 (the "FY2026 Financial Goals") as follows:

• Total Revenue: $600 Million - $700 Million
• Non-Oil & Gas Revenue: ~70%
• Adjusted EBITDA Margin: ~24%

Thermon will provide a comprehensive overview of the key initiatives that support the achievement of the FY2026 Financial Goals, along with the underlying assumptions, during its investor day.

About Thermon

Through its global network, Thermon provides safe, reliable and mission critical industrial process heating solutions. Thermon specializes in providing complete flow assurance, process heating, temperature maintenance, freeze protection and environmental monitoring solutions. Thermon is headquartered in Austin, Texas. For more information, please visit www.thermon.com.