It's easier than you think. Sometimes the scary part of TMOE is that you are 'on the stage' so much. Actually it's easy: everyone else is the star. Your job is just to introduce them and make them look good. Even the initial Toastmasters "related to the theme" introduction is followed by the inspiration speech so you don't have to make a huge speech there.
Find one or two phrases and say them in as many different ways as possible. If you want to practice something ahead of time this is an easy way to do it. Examples: "That was a great speech", "That was a wonderful lesson on that topic", "That was a very impactful presentation". These are all built from the same raw material just molded in different ways.
Don't be afraid to speak for us, the audience. The TMOE comments on the speeches given. Sometimes up there TMOEs are at a loss for something to say about each speech. An easy thing to do is to comment on the effect the speech had on the audience. As TMOE, you can speak for the audience, be their representative. It's not just your own thoughts but the audience's as well.
Roll with it. No meeting goes off perfectly so if something happens don't worry, unless it's an earthquake it won't be earth shattering. (And if it is an earthquake, you get a great story out of it.)
Use the opportunity to practice (if you're advanced)