Q4 2025 Earnings Release and CECO Environmental Combination with Thermon Group February 24, 2026 L E G A L D I S C L O S U R E S L E G A L D I S C L O S U R E S No Offer or Solicitation Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements, other than statements of historical fact, included in this presentation that address events, or developments that CECO Environmental C ...

Core Insights - CECO Environmental and Thermon Group have announced a definitive agreement to combine in a transaction valued at approximately $2.2 billion, which will enhance CECO's capabilities in industrial process heating and thermal management [1][2][4] Company Overview - CECO Environmental is a diversified industrial company focused on environmentally friendly solutions, while Thermon is a leader in industrial process heating and temperature management [13][14] - The combined company will operate under the CECO Environmental name and will be led by CEO Todd Gleason, with two members from Thermon's board joining CECO's board [1][8] Strategic Benefits - The merger is expected to create a world-class industrial solutions platform, enhancing CECO's leadership in industrial environmental and thermal solutions [2][4] - The combination will provide a comprehensive platform of industrial solutions, addressing critical areas such as thermal and acoustic management, emissions control, and industrial air quality [4][5] Financial Aspects - The transaction will be funded through a mix of cash and stock, with Thermon shareholders having multiple options for consideration, including a mixed option valued at approximately $63.13 per share, representing a 26.8% premium over Thermon's closing stock price [6][7] - The combined entity is projected to generate approximately $40 million in annual cost synergies within 36 months, enhancing its financial profile and resilience [11] Market Position and Growth - The merger positions the combined company to capitalize on durable secular trends such as energy transition, decarbonization, and tightening environmental regulations, which are expected to drive long-term growth [2][11] - The integration of both companies is anticipated to accelerate growth through expanded customer relationships and global reach [2][4]