A few slides highlighting the strong revenue growth achieved by Thermal Energy International (TSX-V: TMG) for the third quarter and year-to-date of fiscal 2016.

1. THERMAL ENERGY INTERNATIONAL
Q3 2016 REVENUE & GROSS PROFIT
For the 3 months ended February 29, 2016
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
Q3 2015 Q3 2016
Revenue
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
Q3 2015 Q3 2016
Gross ProfitRevenue Growth
Total 124%
Heat Recovery 122%
GEM 125%

2. THERMAL ENERGY INTERNATIONAL
YTD 2016 REVENUE & GROSS PROFIT
For the 9 months ended February 29, 2016
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
YTD 2015 YTD 2016
Revenue
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
YTD 2015 YTD 2016
Gross ProfitRevenue Growth
Total 94%
Heat Recovery 130%
GEM 67%

3. THERMAL ENERGY INTERNATIONAL
YTD REVENUE BY PROJECT SIZE
For the 9 months ended February 29, 2016
* Mega Projects = single projects representing more than $1.5 million in revenue.
YTD 2012, 2013 and 2014 include 2, 1 and 1 Mega Projects respectively
** Compound annual growth rate
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
YTD 2012 YTD 2013 YTD 2014 YTD 2015 YTD 2016
Non Mega Project Revenue Mega Project Revenue
RevenueWith and Without Mega Projects*
Revenue CAGR**
when
excluding Mega Projects*23%

4. Non-IFRS Financial Measures
This presentation discusses our revenue excluding project values of $1.5 million or higher which is a non-IFRS financial measure,
does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures
presented by other companies. This measure is provided as additional information to complement IFRS measures by providing
further understanding of the Company’s results of operations from management’s perspective.Accordingly, it should not be
considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Our revenue excluding
project values of $1.5 million or higher is calculated for the first three quarters of each of the years since 2012 as follows:
($000’s)
9 months ended
February 29,
2016
9 months ended
February 28,
2015
9 months ended
February 28,
2014
9 months ended
February 28,
2013
9 months ended
February 28,
2012
Revenue 8,279 4,275 8,434 6,331 9,692
Revenue from projects with values
of $1.5 million or higher
0 0 2,245 1,601 6,017
Revenues excluding project values
of $1.5 million or higher
8,279 4,275 6,189 4,730 3,675
Number of Mega Projects 0 0 1 1 2