June 30, 2012

Thermon Holding
Corp. (Guarantor)

Thermon
Industries, Inc.
(Issuer)

Thermon
Manufacturing
Company and US
Subsidiaries
(Guarantor)

International
Subsidiaries
(Non-guarantors)

Eliminations

Consolidated

Assets

Current assets:

Cash and cash equivalents

$

—

$

—

$

3,461

$

10,169

$

—

$

13,630

Accounts receivable, net

—

—

11,569

42,172

29

53,770

Inventories, net

—

—

21,159

16,824

(1,683

)

36,300

Costs and estimated earnings in excess of billings on uncompleted contracts

—

—

1,437

—

—

1,437

Income taxes receivable

—

—

6,436

(20

)

—

6,416

Prepaid expenses and other current assets

—

—

1,022

5,525

441

6,988

Deferred Income taxes

—

—

2,752

707

—

3,459

Total current assets

—

—

47,836

75,377

(1,213

)

122,000

Property, plant and equipment, net

—

—

22,580

5,450

—

28,030

Goodwill

—

—

47,392

68,200

—

115,592

Intangible assets, net

1,014

—

70,559

68,000

—

139,573

Debt Issuance costs, net

—

6,265

—

—

6,265

Investment in subsidiaries

255,600

257,155

89,338

—

(602,093

)

—

$

256,614

$

263,420

$

277,705

$

217,027

$

(603,306

)

$

411,460

Liabilities and shareholder’s equity

Current liabilities:

Accounts payable

$

—

$

—

$

8,625

$

6,409

$

—

$

15,034

Accrued liabilities

—

1,871

5,229

8,251

(73

)

15,278

Obligations in settlement of the CHS Transactions

—

—

3,397

—

—

3,397

Borrowings under revolving lines of credit

—

—

12,769

—

12,769

Income tax payable

—

—

3,173

20

—

3,193

Billings in excess of costs and estimated

—

—

600

1,352

—

1,952

Intercompany loans

(72,645

)

138,302

(80,135

)

14,376

102

—

Total current liabilities

(72,645

)

140,173

(59,111

)

43,177

29

51,623

Long-term debt, net of current maturities

—

118,145

—

—

—

118,145

Deferred Income taxes

—

—

26,842

15,579

—

42,421

Other noncurrent liabilities

—

—

1,725

700

—

2,425

Shareholder’s equity

329,259

5,102

308,249

157,571

(603,335

)

196,846

$

256,614

$

263,420

$

277,705

$

217,027

$

(603,306

)

$

411,460

March 31, 2012

Thermon
Holding,
Corp.
(Guarantor)

Thermon
Industries, Inc.
(Issuer)

Thermon
Manufacturing
Company
and US
Subsidiaries
(Guarantor)

International
Subsidiaries
(Non-
guarantors)

Eliminations

Consolidated

Assets

Current assets:

Cash and cash equivalents

$

—

$

—

$

5,815

$

15,653

$

—

$

21,468

Accounts receivable, net

—

—

28,466

38,431

(16,860

)

50,037

Inventories, net

—

—

20,225

19,949

(1,721

)

38,453

Costs and estimated earnings in excess of billings on uncompleted contracts

—

—

1,458

538

—

1,996

Income taxes receivable

—

—

5,193

—

—

5,193

Prepaid expenses and other current assets

—

—

932

5,398

523

6,853

Deferred Income taxes

—

—

2,758

906

—

3,664

Total current assets

—

—

64,847

80,875

(18,058

)

127,664

Property, plant and equipment, net

—

—

21,870

5,791

—

27,661

Goodwill

—

—

47,391

70,616

—

118,007

Intangible assets, net

1,078

—

72,019

71,704

—

144,801

Debt Issuance costs, net

—

7,446

—

—

—

7,446

Intercompany loans

—

—

160

—

(160

)

—

Investment in subsidiaries

127,622

252,209

118,455

—

(498,286

)

—

$

128,700

$

259,655

$

324,742

$

228,986

$

(516,504

)

$

425,579

Liabilities and shareholder’s equity

Current liabilities:

Accounts payable

$

—

$

—

$

8,615

$

18,768

$

(11,655

)

$

15,728

Accrued liabilities

—

6,136

8,577

11,779

(4,050

)

22,442

Current portion of long term debt

—

21,000

—

—

—

21,000

Billings in excess of costs and estimated earnings on uncompleted contracts

—

—

2,098

348

—

2,446

Income taxes payable

—

—

114

1,260

—

1,374

Obligations in settlement of the CHS Transactions

—

—

3,528

—

—

3,528

Intercompany payables

(70,732

)

110,062

(38,288

)

273

(1,315

)

—

Total current liabilities

(70,732

)

137,198

(15,356

)

32,428

(17,020

)

66,518

Long-term debt, net of current maturities

—

118,145

—

—

—

118,145

Deferred Income taxes

—

—

29,725

16,274

—

45,999

Other noncurrent liabilities

—

—

1,702

735

—

2,437

Shareholder’s equity

199,432

4,312

308,671

179,549

(499,484

)

192,480

$

128,700

$

259,655

$

324,742

$

228,986

$

(516,504

)

$

425,579

Three Months Ended June 30, 2012

Thermon
Holding,
Corp.
(Guarantor)

Thermon
Industries,
Inc. (Issuer)

Thermon
Manufacturing
Company and
U.S.
Subsidiaries
(Guarantors)

International
Subsidiaries
(Non-
guarantors)

Eliminations

Consolidated

Revenues

$

—

$

—

$

32,945

$

48,127

$

(13,859

)

$

67,213

Cost of sales

—

—

20,012

27,741

(13,879

)

33,874

Gross profit

—

—

12,933

20,386

20

33,339

Operating expenses:

Marketing, general and administrative and engineering

58

—

6,759

9,198

—

16,015

Amortization of other intangible assets

64

—

1,460

1,270

—

2,794

Income (loss) from operations

(122

)

—

4,714

9,918

20

14,530

Other income/(expenses):

Equity in earnings of subsidiaries

6,741

5,758

1,949

—

(14,448

)

—

Interest income

—

—

27

—

27

Interest expense

—

(4,155

)

(62

)

(150

)

—

(4,367

)

Miscellaneous income/(expense)

—

—

2,189

(2,145

)

—

44

Income (loss) before provision for income taxes

6,619

1,603

8,790

7,650

(14,428

)

10,234

Income tax expense (benefit)

(43

)

(1,454

)

3,032

2,017

82

3,634

Net income (loss)

$

6,662

$

3,057

$

5,758

$

5,633

$

(14,510

)

$

6,600

Comprehensive income (loss)

Net income (loss)

$

6,662

$

3,057

$

5,758

$

5,633

$

(14,510

)

$

6,600

Foreign currency translation adjustment

—

—

—

(5,448

)

—

(5,448

)

Comprehensive income (loss)

$

6,662

$

3,057

$

5,758

$

185

$

(14,510

)

$

1,152

Three Months Ended June 30, 2011

Thermon
Holding,
Corp.
(Guarantor)

Thermon
Industries,
Inc. (Issuer)

Thermon
Manufacturing
Company and
U.S.
Subsidiaries
(Guarantors)

International
Subsidiaries
(Non-
guarantors)

Eliminations

Consolidated

Revenues

$

—

$

—

$

37,874

$

44,825

$

(18,081

)

$

64,618

Cost of sales

—

—

24,685

25,351

(17,407

)

32,629

Gross profit

—

—

13,189

19,474

(674

)

31,989

Operating expenses:

Marketing, general and administrative and engineering

6,457

7,861

7,897

7,401

—

29,616

Amortization of other intangible assets

64

—

1,460

1,361

—

2,885

Income (loss) from operations

(6,521

)

(7,861

)

3,832

10,712

(674

)

(512

)

Other income/(expenses):

Equity in earnings of subsidiaries

1,555

13,312

6,054

—

(20,921

)

—

Interest income

—

—

20

71

—

91

Interest expense

—

(6,703

)

(3

)

(84

)

—

(6,790

)

Loss on retirement of debt

—

(630

)

—

—

—

(630

)

Miscellaneous income/(expense)

—

—

1,905

(1,919

)

—

(14

)

Income (loss) before provision for income taxes

(4,966

)

(1,882

)

11,808

8,780

(21,595

)

(7,855

)

Income tax expense (benefit)

—

—

(4,935

)

2,270

(224

)

(2,889

)

Net income (loss)

$

(4,966

)

$

(1,882

)

$

16,743

$

6,510

$

(21,371

)

$

(4,966

)

Comprehensive income (loss)

Net income (loss)

$

(4,966

)

$

(1,882

)

$

16,743

$

6,510

$

(21,371

)

$

(4,966

)

Foreign currency translation adjustment

—

—

—

1,395

—

1,395

Comprehensive income (loss)

$

(4,966

)

$

(1,882

)

$

16,743

$

7,905

$

(21,371

)

$

(3,571

)

Three Months Ended June 30, 2012

Thermon
Holding, Corp.
(Guarantor)

Thermon
Industries, Inc.
(Issuer)

Thermon
Manufacturing
Company and
U.S.
Subsidiaries
(Guarantor)

International
Subsidiaries
(Non-
guarantors)

Eliminations

Consolidated

Net cash provided by (used in) operations

$

—

$

(6,611

)

$

3,569

$

3,685

$

957

$

1,600

Investing activities

Purchases of P.P.&E.

—

—

(1,152

)

(116

)

—

(1,268

)

Cash paid for Thermon

—

—

(131

)

—

—

(131

)

Net cash provided by (used in) investing activities

—

—

(1,283

)

(116

)

—

(1,399

)

Financing activities

Payments on Senior Secured Notes

—

(21,000

)

—

—

—

(21,000

)

Proceeds from revolving lines of credit

—

—

12,769

—

12,769

Capital contributions

1,912

—

—

—

—

1,912

Premiums paid on redemption of Senior Secured Notes

—

(630

)

—

—

—

(630

)

Change in affiliate debt

(1,912

)

28,241

(4,640

)

(20,732

)

(957

)

—

Net cash provided by (used in) financing activities

—

6,611

(4,640

)

(7,963

)

(957

)

(6,949

)

Effect of exchange rates on cash and cash equivalents

—

—

—

(1,090

)

—

(1,090

)

Change in cash and cash equivalents

—

—

(2,354

)

(5,484

)

—

(7,838

)

Cash at beginning of period

—

—

5,815

15,653

—

21,468

Cash at End of period

$

—

$

—

$

3,461

$

10,169

$

—

$

13,630

For the Three Months Ended June 30, 2011

Thermon
Holding, Corp.
(Guarantor)

Thermon
Industries, Inc.
(Issuer)

Thermon
Manufacturing
Company and
U.S.
Subsidiaries
(Guarantor)

International
Subsidiaries
(Non-
guarantors)

Eliminations

Consolidated

Net cash provided by (used in) operations

$

253

$

(18,076

)

$

(6,530

)

$

3,559

$

416

$

(20,378

)

Investing activities

Purchases of P.P.&E.

—

—

(2,268

)

(111

)

—

(2,379

)

Cash paid for Thermon

—

—

(372

)

—

—

(372

)

Net cash provided by (used in) investing activities

—

—

(2,640

)

(111

)

—

(2,751

)

Financing activities

Payments on Senior Secured Notes

—

(42,000

)

—

—

—

(42,000

)

Payments on revolving lines of credit

—

—

—

(2,063

)

—

(2,063

)

Capital contributions

48,919

—

—

—

—

48,919

Premiums paid on redemption of Senior Secured Notes

—

(1,260

)

—

—

—

(1,260

)

Change in affiliate debt

(49,172

)

61,336

(11,748

)

—

(416

)

—

Net cash provided by (used in) financing activities

(253

)

18,076

(11,748

)

(2,063

)

(416

)

3,596

Effect of exchange rates on cash and cash equivalents

—

—

—

121

—

121

Change in cash and cash equivalents

—

(20,918

)

1,506

—

(19,412

)

Cash at beginning of period

—

—

41,829

9,187

—

51,016

Cash at End of period

$

—

$

—

$

20,911

$

10,693

$

—

$

31,604