Mr. William Crossland reports

THERMAL ENERGY INTERNATIONAL ANNOUNCES GRANT OF STOCK OPTIONS

Thermal Energy International Inc. granted 3,334,000 options to purchase common shares of the company to officers and directors of the company on Nov. 30, 2025, as part of an overall remuneration and incentive program.

The stock options were granted pursuant to the terms of the company's stock option plan, have a five-year term and are exercisable at 12.5 cents. Of the total 3,334,000 options granted, 1,334,000 options will vest in three equal annual instalments on each of the first three anniversaries of the grant date, and two million options will vest in four equal annual instalments on each of the first four anniversaries of the grant date. Stock option grants are subject to necessary regulatory approvals.

About Thermal Energy International Inc.

Thermal Energy provides energy efficiency and emission reduction solutions to Fortune 500 and other large multinational companies. It saves its customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to 80 per centof energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback.

Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, Pittsburgh, United States, as well as Bristol, United Kingdom, with sales offices in Canada, U.K., United States, Germany, Poland, France and Italy. By providing a unique mix of proprietary products together with process, energy and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for its customers.

Thermal Energy's common shares are traded on the TSX Venture Exchange under the symbol TMG and on the OTCQB under the symbol TMGEF.

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