1

T-3 Energy Services, Inc. T-3 Energy Services, Inc. Management PresentationManagement Presentation

During the course of this presentation, participants may make certain forward-looking statements regarding various matters related to our business and company that are not historical facts, including future financial performance, operating results, and the prospects for the oil and gas services business.

It is difficult to make projections or other forward-looking statements in a cyclical industry; such as the risks, assumptions, and uncertainties involved in these forward-looking statements include the level of crude oil and natural gas prices, rig demand, and operational and other risks which are described in the

company’s most recent Form 10-K and other filings with the U.S. Securities and Exchange Commission. The forward looking statements are based upon management’s expectations and beliefs and, although these statements are based upon reasonable assumptions, actual results might differ materially from

expected results due to a variety of factors.

The Company assumes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. For a discussion of additional risks and uncertainties that could impact the Company’s results, please review the T-3 Energy Services’ Quarterly Report on Form 10-Q

for the period ending June 30, 2008.

October 2008October 2008

2

Gus Halas hired as

CEO

Turn Around Phase

Cost reductions, hired new senior management, and facilities rationalization.

Strategic Growth Phase

OEM product development and engineering plan, geographic (domestic and international) expansion, manufacturing capacity expansion, cost-controls,

company-wide process improvements.

Service Company Roots

Gulf Coast leading provider of pressure and flow control

equipment aftermarket services.

Capitalized by

2001 20022000 2003 2004 2005 2006 2007

Sold Products Segment

Sold Distribution Segment

First Reserve Sells all T-3 Energy Common Shares in a

Series of Block Trades.

2008 2009

History of T-3 EnergyHistory of T-3 Energy

EEC / HPT

Acquisition

T3 India and Aswan

JV

Edmonton, Canada

Acquisition

Rock Springs

Acquisition

Pinnacle Wellhead

Acquisition

3

Company & Products OverviewCompany & Products Overview

We design, manufacture, repair, and service products used in the We design, manufacture, repair, and service products used in the drilling and completion of new oil and gas wells, the workover of drilling and completion of new oil and gas wells, the workover of

existing wells, and the production and transportation of oil and gas.existing wells, and the production and transportation of oil and gas.

ProductionPhase

DrillingPhase

Crown &

Standpipe Manifold

Choke & Kill Blowout

Master Bushing

Remote Control System Panel

Surface Control System

Manifold

Blowout Preventer

Stack

Remote Control System Panel

Surface Control System

Wellhead & Production

Tree Pipeline Valves

Transmission& Processing

Phase

WellheadProducts

Pressure and FlowControl Products

Pipeline Valve Products

Revenues as of 6/30/08

14%

73%

13%

2

3

1

4 5

Remanufacture / Repair

Low Pressure O.E.M.

High Pressure O.E.M.

Sub Sea OEM

Prod

uct C

ompl

exity

Rated W

orking Pressure

4

Demand is correlated to the new rig market and rig refurbishment market; while demand Demand is correlated to the new rig market and rig refurbishment market; while demand for aftermarket repair services is driven by utilization levels on drilling rigs.for aftermarket repair services is driven by utilization levels on drilling rigs.

Drilling & Well Servicing Chokes,

Valves, and Choke and Kill

Manifolds

Crown &

Standpipe Manifold

Choke & Kill Blowout

Master Bushing

Remote Control System Panel

Surface Control System

Manifold

Blowout Preventer

Stack

Remote Control System Panel

Surface Control System

Blowout Preventer Hydraulic Control

Systems

Blowout Preventers and Non-Metallic Seals

2

1

2

3

1

Drilling Phase ProductsDrilling Phase ProductsPCG PCG

BOP36.1%

Manifolds15.0%

Control Systems

3.6%

Valves23.5%

BOP Repair10.5%

Other Repair10.5%

Field Service0.8%

YTD 6/30/08 PCG Revenue Make-Up

3

5

1

Drilling Phase ProductsDrilling Phase ProductsBOPs and AccessoriesBOPs and Accessories

Model 6011i Economy Ram BOP

Model 6031 Cold-Weather Ram BOP

Model 6012 Sub-Sea Ram Isolation BOP

Model 6012 Sub-Sea Shearing BOP

Model 7072 Sub-Sea Annular BOP

29 ½” 500 PSI 7012 Annular Diverter BOP

Model 6012 Premium Ram BOP

Model 7082 Annular BOP

Model 7022L Annular BOP

Excluder OExcluder O--ring for Subsea Applicationsring for Subsea Applications

Design Innovation To Enhance Bonnet Sealing Consistency & Reduce Risk By Eliminating Higher Bonnet Bolt Torque Requirements

No separate tools needed for removal.

Qualified to API 16A Ram Access Test:

•200 Access Cycles•10 Wellbore Pressure Cycles

Excluder OExcluder O--ring for Subsea Applicationsring for Subsea Applications

Design Innovation To Enhance Bonnet Sealing Consistency & Reduce Risk By Eliminating Higher Bonnet Bolt Torque Requirements

No separate tools needed for removal.

Qualified to API 16A Ram Access Test:

•200 Access Cycles•10 Wellbore Pressure Cycles

Ram BOP Wear Plates

Variable Bore Inverted Rams

Model 6000 Shear Rams

Casing Shear Rams

Low Torque Ram BOP Bonnet Seals

BOP Rams and Seals

High Pressure Land BOPs

High Pressure Sub-Sea BOPs

Low Pressure Land BOPs

6

3

Drilling Phase ProductsDrilling Phase ProductsValves and ChokesValves and Chokes

T3-COT Mud Valve

CH2M Standard Production Choke

HPTTM Sub-Sea Production Valve

HPTTM Sub-Sea Drilling Valve

Sub-Sea DF Gate Valve

Drilling Check Valve

HXETM Drilling Choke

T3-FC Gate Valve

Double Acting Hydraulic Actuator

Torque Reduction Manual Operator Actuator

Fail Safe Actuator

Sub-Sea Actuator

Available Valve Actuation

HPTTM Drilling Gate Valve

High Pressure Valves & Chokes

High Pressure Sub-Sea Valves

Low Pressure Valves & Chokes

7

4

Production Phase ProductsProduction Phase ProductsWPS SolutionsWPS Solutions

TimeSaverTM Wellhead System

TimeSaverTM Wellhead System with DDV System

Dual Block Wellhead System

Thru-Diverter Wellhead System

Demand is a function of drilling & completion activity, particularly Demand is a function of drilling & completion activity, particularly activity in “resource plays”, such as the Barnett Shale.activity in “resource plays”, such as the Barnett Shale.

HPTTM Manual Production Gate Valve

HPTTM Manual Production Gate Valve

with Ball Screw

T3 Diamond Series D5TM Gate Valve

T3 Diamond Series D10TM Gate Valve

Wellhead Production Solutions - Land

Wellhead Production Valves - Land

8

5

Demand is a function of the levels of overall production and pipeline construction activity, particularly gathering systems requiring ball Demand is a function of the levels of overall production and pipeline construction activity, particularly gathering systems requiring ball valves and gate valves. valves and gate valves.

Transmission Phase ProductsTransmission Phase ProductsPVS ValvesPVS Valves

T-3 RSB Rising Stem Ball Valve

T-3 CFT Trunnion Mounted Ball Valve

T-3 T1-EX Expanding Gate Valve

T3 Diamond Series D10TM Gate Valve

Gate Valves - Land

Ball Valves - Land

9

2004

Drilling Phase (PCG) Engineering

2005 2006 2007

Production Phase (WPS) Product Engineering

Transmission Phase (PVS) Product Engineering

Drilling Phase (FCG) Engineering

2 Engineering Team Members

25 Engineering Team Members

Pa

ten

ted

Model 6000 Shearing Sealing Ram (7,207,382)

Threaded Union Safety Device (6,557,577)

Oil Field Choke (5,241,980)

Multiple Sleeve Valve Assembly (6,283,152)

Well Production Hub (7,219,740 B2)

Valve Seal Assemblies & Methods (6,664,572 B2)

Hydraulic Failsafe Valve Actuator (6,487,960 B1)

Hydraulic Double-Acting Actuator (6,659,419)

Subsea Hydraulic Actuator with Built-in Pressure Compensator (6,783,107 B2)

DDV Wellhead System

Pa

ten

t-P

en

din

g

Subsea Dual Bore Well Jumper

Subsea Jumper Deployment Method

Subsea Light Weight Stab Plate Connector

Subsea HIPPS “Device, Method, and Apparatus”

Machined Bore “Method”

D5 and D10 Production Gate Valves

Po

ss

ible

P

ate

nts

18 3/4” 15,000 BOP Sealing Architecture

T3 Tubing Hanger Metal Seal

T3 Two-Stage Through Diverter System

Frac Isolation System

EngineeringEngineeringDesigning Name-Brand ProductsDesigning Name-Brand Products

2008

Supply Chain Engineering

Introduced 113 new customer-driven products and dozens of product enhancements.Introduced 113 new customer-driven products and dozens of product enhancements.

10

$ in

Mil

lio

ns

OEM ProductsOEM ProductsGrowing Name-Brand RecognitionGrowing Name-Brand Recognition

46%57%

65%76% 80%

Percent New Manufactured

Product

Aftermarket Services vs. New Manufactured Products

90% OEMIncrease

79% OEMIncrease

58% OEMIncrease

11

$0

$2

$4

$6

$8

$10

$12

$14

2002 2003 2004 2005 2006 2007 2008

Billio

ns (

$ U

SD

)

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

2002 2003 2004 2005 2006 2007 2008

Billio

ns (

$ U

SD

)

32,910

16,728

19.9 20.0 19.5 19.0 19.3 19.9

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2002 2003 2004 2005 2006 2007

U.S

. Na

tura

l Ga

s W

ells

Dri

lled

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

U.S

. Na

tura

l Ga

s P

rod

uc

tion

(Tc

f)

Wells Drilled

Gas Production

Sources: 1January 2008 Spears & Reed Rig Census. 2Energy Information Administration.

Rig Equipment Spending1 Surface Equipment Spending1

U.S. natural gas production remains flat despite a significant increase in the number of gas U.S. natural gas production remains flat despite a significant increase in the number of gas wells drilled over the past decade.wells drilled over the past decade.

Natural Gas Depletion2New International Land Rigs1

China and Russia to add approximately 200 new rigs per year.China and Russia to add approximately 200 new rigs per year.149 new offshore rigs to be built between 2008 and 2011.149 new offshore rigs to be built between 2008 and 2011.

Industry DynamicsIndustry DynamicsSpending & ConstructionSpending & Construction

0

20

40

60

80

100

120

140

2003 2004 2005 2006 2007 2008

Net Assembled

New Build

12

Pressure & Flow Control

Strong Customer BaseStrong Customer Base

Wellhead Pipeline

13

Quarter End Shipments $18.8 $18.9 $32.6 $45.2 $64.4 $67.7

Growing backlog along with increasing quarter end shipments demonstrates

brand name acceptance and increasing OEM market share.

$64.8$63.3

$30.1

$3.4 $3.3

$80.7

$0

$20

$40

$60

$80

$100

2003 2004 2005 2006 2007

Mill

ion

s

Note: Excludes discontinued operations.

Production phase product commitments received are not included in Production phase product commitments received are not included in T-3 Energy’s quoted back-log numbers.T-3 Energy’s quoted back-log numbers.

6/30/2008

Strong and Growing BacklogStrong and Growing Backlog

6/30/08 Quote Backlog Regional Make-Up

30%

70%

Quoted Product

(6/30/08)

Amount (Millions $USD)

BOP $ 63.8

Choke $ 53.6

Control Systems

$ 24.0

Control Valves $ 0.4

DSA $ 3.3

Flow Fitting $ 4.2

Manifold $ 33.4

Misc. $ 7.1

Production Valve

$ 24.9

Grand Total:

214.7$

International

North America

Strong quote backlog supported with a large percentage of international

opportunities demonstrates growing international market penetration.

Drilling Phase Product Sales Opportunities

Africa3%

Asia6%

United Kingdom

8%

North America30%

Other1%

Europe8%

Former Soviet Union5%

Middle East30%

Central America

5%

South America4%

14

Sales GrowthSales GrowthInternational and Offshore SalesInternational and Offshore Sales

53%40% 36%

18%

10%4%

8%

15%

12%

20%34%

49%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2006 2007 2008 (H1)

United States Canada Mexico International

The above chart represents sales related to T-3 Energy’s drilling-phase pressure control and flow

control products. Wellhead and Pipeline Valve sales are essentially domestic.

67%57% 52%

26%36%

31%

7% 7%17%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2006 2007 2008 (H1)

Offshore (Floaters and Subsea)Offshore (Fixed Platform)Land

The offshore products encompass products for drillships, semi-submersibles, or other type of floating

facility.  These products include surface or subsea BOPs, C&K manifolds, stand-pipe manifolds, diverter

valves, subsea stack mounted valves, subsea flow-line valves, boarding valves, etc.

PCG Product Destination by Region PCG Product Sales Markets

15

Global New Manufactured BOP Market

13%

Growing Market ShareGrowing Market Share

Global Pipeline

Valve Market

Global BOP Elastomers

Market

~1%

Global Land BOP Control

System Market

16% ~1%

U.S. Surface Wellhead

Market

~3%

0% 0% ~1.4% ~0.2%2003 2003 2003 2003

0%2003

As a percentage of the entire new installed

market base between 2005 and 2007.

As a percentage of the entire new installed

market base between 2005 and 2007.

Of the $1.1 billion United States

domestic surface wellhead market.

Of the $1.9 billion global pipeline and transmission valve

market.

Of the estimated $150 million global pressure

control seal and elastomer market

16

2005

Initiate Facilities Rationalization and Lean Manufacturing

2006 2007 2008

Phase II – New BOP Manufacturing Capacity Initiative

Houston, Texas

Phase I - New BOP Manufacturing

Capacity Initiative

Houma, Louisiana

Phase I – BOP Re-Manufacturing Capacity Initiative

Rock Springs, Wyoming

Phase II – BOP Re-Manufacturing Capacity Initiative,

Cypress, Texas

Manufacturing Capacity ExpansionManufacturing Capacity Expansion

Low-Cost Sourcing Capacity

Initiative

Mumbai, India

Doubled revenue capacity with less than Doubled revenue capacity with less than $22M in growth capital since 2005.$22M in growth capital since 2005.

Geographic Expansion

Capacity Expansion

Acquisition / Partnership

Growth Strategy

17

Nisku, Alberta (PCG)

Houston (3 PCG / WPS / PVS)

Robstown (WPS)

Odessa (WPS)

Perryton (WPS)

Jennings (PCG)

Houma (2 PCG)

Lafayette (WPS)

Shreveport (WPS)

Indianapolis (PVS)

Buffalo (PVS)

Tyler (WPS)

Rock Springs (PCG / WPS)

Casper (WPS/PVS)

Conway (WPS)

Cardenas, Mexico

Dallas (WPS)

OKC (WPS)

Denver (WPS)

W. Virginia (WPS)

Grand Junction (WPS)

Pennsylvania (WPS)

Atlanta (PVS)

Farmington (WPS)

Venicia (PVS)

Long Beach (PVS)

Williston (WPS)

Domestic Operational ExpansionDomestic Operational Expansion

Fort Smith (WPS)

18

Continued focus on expanding existing international footprint Continued focus on expanding existing international footprint through joint ventures, authorized repair facilities and agents.through joint ventures, authorized repair facilities and agents.

1Effective September 1st, 2008, T-3 Opens Dubai Service Center as a Joint Venture with Aswan International Engineering Company LLC ("Aswan"). 2On May 29th, 2008, T-3 Exercised its Option to Purchase the Assets of the India-Based Manufacturing Operation of HP&T Products, Inc.

International ExpansionInternational Expansion

T3 Dubai / Aswan1

T3 Mexico / Grupo R

T3 India2

Existing T3 Energy Operation

Focus for Continued International Growth

Capacity Expansion

Acquisition / Partnership

19

Geographic Expansion

Product Growth

Product Complements

Product GrowthDo acquired products fill out

T-3 Energy’s current product offering?

Product ComplementDo acquired products provide

new products that may complement current T3 Energy

product offerings?

Geographic ExpansionDoes the potential acquisition present an opportunity to obtain greater geographic

presence domestically and/or internationally?

T3 Energy’s acquisition strategy T3 Energy’s acquisition strategy targets geographic expansion, targets geographic expansion,

product growth, and addition of product growth, and addition of complementary products.complementary products.

Acquisition Model

Growth Through AcquisitionGrowth Through Acquisition

Geographic Expansion

Capacity Expansion

Acquisition / Partnership

Growth Strategy

20

FinanceFinance

Certain information discussed in this presentation is considered non-GAAP financial measures. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company’s reported results.

21

Q2 2007 operating results include a charge of $2.5 million related to a change in control provision. Q2 2007 operating results would be as follows with this add-back; SG&A $8,918 (17.2%), EBITDA $11,532 (22.2%), EBIT $10,457 (20.1%), net income $7,242, and Diluted EPS $0.60. Q2 2008 operating results include $2.5 million in costs related to the pursuit of strategic alternatives for the company. Q2 2008 operating results would be as follows with this add-back; SG&A $11,950 (17.7%), EBITDA $16,029 (23.7%), EBIT $13,770 (20.3%), net income $9,122, and Diluted EPS $0.70.

Q2 2008 Q2 2007 Delta

Revenues 67,690$ 51,933$ 15,757$

Gross Profit 27,979$ 20,450$ 7,529$ Gross Profit Margin 41.3% 39.4% 2.0%

SG&A 14,421$ 11,440$ 2,981$ SG&A % 21.3% 22.0% -0.7%

EBITDA 13,558$ 9,010$ 4,548$ EBITDA % 20.0% 17.3% 2.7%

EBIT 11,299$ 7,935$ 3,364$ EBIT % 16.7% 15.3% 1.4%

Net Income (Continuing Operations) 7,516$ 5,313$ 2,203$

Diluted EPS 0.58$ 0.44$ 0.14$

22ndnd Quarter Financial Performance Quarter Financial Performance

22

Improving Revenue & EarningsImproving Revenue & Earnings

$4.3$3.4

$4.4

$6.2 $6.7

$8.1 $7.7$8.9

$7.9

$10.6

$13.4$14.4

$11.3

$1.6

8.1%

17.2%

13.2% 13.5%

17.4% 17.6% 18.3%17.0%

18.6%

15.2%

19.9%20.8% 20.8%

16.7%

$-

$2

$4

$6

$8

$10

$12

$14

Q1 2

005

Q2 2

005

Q3 2

005

Q4 2

005

Q1 2

006

Q2 2

006

Q3 2

006

Q4 2

006

Q1 2

007

Q2 2

007

Q3 2

007

Q4 2

007

Q1 2

008

Q2 2

008 0%

4%

8%

12%

16%

20%

24%

Q2 2007 operating results include charge of $2.5 million related to a change of control provision; Q2 operating income would be $10.5 million or 20.1% and Diluted EPS would be $0.60 excluding this charge. Q2 2008 operating results include $2.5 million in costs related to the pursuit of strategic alternatives for the Company. Q2 2008 operating income would be $13.8 million or 20.3% and Diluted EPS would be $0.70 excluding these costs.

$19.8$25.0 $25.8

$32.6$35.7 $38.1

$44.2 $45.2 $47.9$51.9 $53.2

$64.4$69.2 $67.7

$-

$10

$20

$30

$40

$50

$60

$70

$80

Reven

ue (

$ M

illio

ns)

240% Increase

Diluted EPS

Quarterly Revenue

Quarterly Operating Income

Net

Inco

me

($ M

illio

n) N

et Inco

me P

ercentag

e

0.06$ 0.22$ 0.20$ 0.27$ 0.36$ 0.40$ 0.46$ 0.46$ 0.51$ 0.44$ 0.58$ 0.67$ 0.75$ 0.58$

23

Disciplined Capital SpendingDisciplined Capital Spending

$ 0.8 $ 0.8 $ 0.8 $ 0.8 $ 0.8 $ 0.8$ 0.9

$ 1.0$ 1.0

$ 1.1

$ 1.8

$ 2.2$ 2.3

$ 0.4$ 0.3 $ 0.3

$ 1.5

$ 2.5

$ 2.7

$ 2.2

$ 1.6

$ 0.7

$ 1.6

$ 2.1

$ 2.7

$ 3.4

$ 2.2

$ 1.1

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

Q1 2

005

Q2 2

005

Q3 2

005

Q4 2

005

Q1 2

006

Q2 2

006

Q3 2

006

Q4 2

006

Q1 2

007

Q2 2

007

Q3 2

007

Q4 2

007

Q1 2

008

Q2 2

008

Historical maintenance CapEx has been approximately $1 million annually.

CapEx versus Depreciation

$ M

illio

n D

olla

rs

EEC / HPT Acquisition

24

As of 12/31/07

As of 6/30/08

Capitalization ($ in Millions)

Cash $ 9.5 $ 6.8

Total Debt $ 61.5 $ 39.1

Stockholders' Equity $ 190.6 $ 214.5

Total Capitalization: $ 252.1 $ 253.6

Liquidity ($ in Millions)

Cash $ 9.5 $ 6.8

Revolving Line of Credit $ 180.0 $ 180.0

Less: Amount Outstanding $ (61.4) $ (39.0)

Less: Letters of Credit $ (0.5) $ (0.5)

Total Available Liquidity: $ 127.6 $ 147.3

Strong Balance SheetStrong Balance Sheet

25

Record Backlog Continues to GrowRecord Backlog Continues to Grow

$12

$19 $21

$30

$45

$57$61

$63

$70

$62$59

$65$59

$81

$93

$0$10

$20$30

$40$50

$60$70

$80$90

$100Q

1 20

05

Q2

2005

Q3

2005

Q4

2005

Q1

2006

Q2

2006

Q3

2006

Q4

2006

Q1

2007

Q2

2007

Q3

2007

Q4

2007

Q1

2008

Q2

2008

8/19

/200

8

675% Increase

$ M

illio

n D

olla

rs

26

Financial Management

Continued disciplined

approach with focus on

fundamentals.

6A-0202 6A-0041 6A-0564 6A-0386 6A-0253 6A-0756 16A-0087 16A-0026 16A-0131 16A-0171 16C-0032 16D-0018 6D-0462

Growth and Acquisition

Continue to pursue growth

opportunities via acquisition, geographic

expansion, and capacity

improvement.

New Product Introductions

Continue development of

new name-branded and engineered

products in all three product

sectors.

Supply Chain and Sourcing

Enhance sourcing pipeline

and technical resource team to

support new product

introductions and improved

margins.

Process Improvement

Continue to focus on process

improvements and lean

manufacturing opportunities

throughout the organization.

Growth TrajectoryGrowth Trajectory

Geographic Expansion

Product Growth

Product Complements

Acquisition Model