0. Lighting Science Group
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Lighting Science Group

1. Business Overview 1

2. Snapshot of Lighting Science Group
Lighting Science is an LED technology leader currently focused on the enormous general illumination opportunity
Luminaires
Early leader in LED general illumination with a sustainable position
Technology leader
More than one million retrofit lamps shipped in 2H ‘10 alone
Tenured lighting industry professionals, as well as LED technology veterans
Differentiated focus and approach
Predecessor company founded in 2002
Headquartered in Satellite Beach, Florida
243 employees (152 in US) as of December 31, 2010
LED value chain
Systems
Modules
Components
Retrofit lamps
Annual and quarterly historical revenue
(1)
CAGR: 60.0%
YoY Growth: 329.6%
Chips
Materials 2
(1) Adjusted for non-cash sales incentive related to THD warrant; GAAP revenue is $21.3 million.

3. LSG is established in a critical position in the LED ecosystem
Technology leadership and recognition
Dominant channel partners
Validation through large, discerning client list
Leading supply chain expertise 3

4. LSG is a leading provider of LED products for general illumination
Wealth of industry experience
LSG is a pioneer in the industry, having sold LED-based lighting products for nearly a decade
Senior management team consists of long- tenured lighting industry professionals as well as LED technology veterans
R&D team includes ~50 research scientists and engineers with Ph.D.s or Masters degrees in a range of disciplines
Deep knowledge of the disciplines core to the development of leading LED products – underpinned by portfolio of 124 patents
Product offering
Broad but focused product portfolio
At the forefront of cost and performance
Offered first LED retrofit lamp to be ENERGY STAR qualified – currently offer 89 qualified lamps
46 new products and 478 SKUs launched in 2010
59 new product launches 2011 YTD
Recently launched revolutionary infrastructure product lineup
Sold over 1 million LED retrofit lamps during 2H10 alone and expected to sell over 2 million lamps in 1H11
Lighting Science has the technology, people and experience to sustain its position in the LED market 4

5. Investment highlights
Significant improvements in profitability through transformational manufacturing and supply chain initiatives
Leader in a multi-billion market opportunity in early stages of transition – exceptional secular growth
Multiple, compelling growth drivers
Unique position in LED general illumination: a downstream, pure-play LED provider
Deep market reach through multifaceted channel strategy and strong relationships
Differentiated system-based approach and deep technology acumen
Broad but focused range of lighting products developed with application-specific expertise 5

6. Leader in an enormous multi-billion market opportunity in early stages of transition
2009 U.S. grid electricity consumption
2009 global lighting market size
Lighting
22%
LED <5%
Traditional
97%
Other
78%
Traditional >95%
Total: ~$300bn
Total: ~$100bn
Lighting presents a vast opportunity to reduce energy consumption
Global lighting market is significantly underpenetrated by LEDs
The total addressable market for LED lighting products includes fixtures and lamps, as well as the enormous value of potential energy savings 6
Source: Freedonia, Wall Street Equity Research

7. Differentiated system-based approach and deep technology acumen
Focused on the interrelationships between components and subsystems
In-house capabilities for critical components and subsystems
Modular approach to product development
Deep technology expertise
Over 120 issued and pending patents
Over 50 research scientists and engineers with advanced degrees
Distinguished CTO with decades of relevant R&D experience
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Industry-leading product performance
Ability to manage product manufacturing complexity and cost
Culture of innovation
Nimble, quick to market
Flexible component sourcing
Application-specific expertise
Extensive lighting industry expertise
Deep understanding of functionality under actual operating conditions
Knowledge of what attributes end users value for each application
Collaborative approach
Flat organizational structure
Research, design and manufacturing team collocated on the ‘Space Coast’ 7

8. LSG’s broad offering enables targeted applications within a range of market segments
Highly tailored products
Targeted markets
Government infrastructure
Infrastructure
Schools and universities
Lamps
Retail and hospitality
OEMs
Commercial & architectural
LSG targets applications across several markets for which the return on investment, total cost of ownership and other benefits currently present clear and compelling reasons for LED adoption 8

9. Product overview LAMPS INFRASTRUCTURE LUMINAIRES
Broad range of LED retrofit lamps that interface with existing fixtures and sockets
Exhibit consistent color, excellent light distribution and brightness
Marketed under LSG’s ‘DEFINITY’ brand and also sold on a co-branded and private label basis
INFRASTRUCTURE LUMINAIRES
Combine energy efficiency, long life, high lumen output and excellent light distribution
Targeted applications: parking facilities, outdoor areas, warehouses and manufacturing areas
COMMERCIAL, ARCHITECTURAL AND RESIDENTIAL LUMINAIRES
Designed for retail display applications and offer high customization
Excellent color and temperature control for high value and perishable products
Also offer LED-based spot, accent, recessed, pendant and track lighting, which offer uniform illumination and energy efficiency
CUSTOM LIGHTING SOLUTIONS
Custom LED lighting solutions for architects, lighting designers and research projects 9

10. Public Infrastructure
Broad market reached through multifaceted channel strategy and strong relationships
Product families
Charts
Multi channel strategy leveraging on established lighting distribution channels
Co-branded
Private label
Direct sales
Distributors
Independent Sales Agents
International partners
Currently US-focused with growing international footprint
Unique sales organization that supports the Company’s channel strategy
Infrastructure and luminaries
Lamps
Commercial, architectural and residential luminaries
Account focused
Project focused
Strategic Accounts
Public Infrastructure
Rebate strategy supports all
sales activities
VP Professional Sales
VP Strategic Accounts
National Accounts
Commercial & Industrial 10

11. LSG has key customers within its end markets
Commercial
Related Properties
Retail and Hospitality
Government Infrastructure
LABSL and DPW
NYC Design Competition
Orlando Public Works
Schools and Universities
Private Label & OEMs
Other Major Lighting Brands 11

12. Designing a leading LED system requires a deep understanding of numerous technologies
Power supply
Drives LED and luminaire efficacy and regulates light output through management of power to packaged LED
Intelligent controls
Leverages digital functionality of LEDs and enables enhanced features
Requires understanding of complementary technologies
Charts
Thermal
Effective heat dissipation required for efficient performance of LED package and electronics – reduces color shift and improves overall device lifetime
Optics
Determines intensity, direction and spread of light – tuned to packaged LED and intended application
Packaged LED
Overall lamp efficacy, light output, quality and lifetime driven by interoperability of packaged LED with other components
In addition to improving system efficacy, LSG’s approach has a meaningful impact on manufacturing cost and product lifetime 12

13. Core epi represents only 8.7% of the expected improvement
Enhancement in systems will drive improvements in LED lighting in the future
Package and luminaire loss channels and efficiencies
Illustrative bill of material for an LED system
LSG has the technology expertise and system integration capabilities to realize the anticipated improvements in efficacy
The majority of expected improvement is to come from outside of the LED(1)
Core epi represents only 8.7% of the expected improvement
Packaged LEDs represent ~30% of overall system cost, indicating that greater cost-down potential lies beyond the package
(2)
(3)
(4)
Source: U.S. Department of Energy (Solid State Light, Research and Development: Multi-year Program Plan, May 2011).
(1) LSG’s technology roadmap includes development of remote phosphors.
(2) Includes internal non-radiative, extraction efficiency, and current droop (peak vs. 35A / cm2).
(3) Includes Phosphor conversion, scattering / absorption / color mixing, and electrical efficiency.
(4) Includes LED thermal stability, phosphor thermal stability, LED driver and fixture and optical efficiency. 13

14. Technology case study: A19 60W replacement lamp comparison
LSG 60W Equivalent
Philips 60W Equivalent
80 parts
151 parts 14

15. Examples of areas of focus underpinning LSG’s technology roadmap
LED
Thermal management
Remote phosphor
Improved efficiency – better ability to tune phosphor
Limits color shifting over time
Plasma / MEMs cooling
Enables supply chain and manufacturing efficiencies
Reduces material cost
Improves aesthetics
Reduces mass
Power supplies
Optics
Onboard power supply
Dramatically fewer components
Reduces material cost
Higher reliability
Smaller form factor
Longer lifetime
Better performance
MEMs optics
Improves LED lighting product performance
Enables more and dynamic control of beam 15

16. LSG is a driver of technological innovation for lighting, as reflected by its strong partnerships
~50 R&D professionals with advanced degrees
124 issued and pending patents
“Space Coast” location
The partnership between Lighting Science and Google has produced a ~$35 LED bulb expected to be in stores by the end of the year
The bulb builds in low-cost wireless networking for Android and can be wirelessly controlled by any Android device
Collaboration with technology partners has broadened technical expertise and enhanced ability to anticipate and address novel applications for LED lighting 16

17. Drivers of growth strategy
Lead the innovation of lighting applications through intelligent controls
Broaden product portfolio to address larger universe of applications
Example: ~$35 LED bulb that can be controlled wirelessly by Google Android devices
Rapidly introducing new SKUs with 59 introduced in 2011 YTD
Product portfolios across all segments are being expanded
Exploit the ubiquity of lighting and market shift toward energy-efficient lighting
Enhanced investment in sales and distribution channels
The worldwide general lighting market is vast, at ~$100 billion today
LED market share of general lighting market expected to grow rapidly
Added experienced lighting professionals to direct sales force and the sales team that manage retail and OEM partners
Current pipeline of sales opportunities: over $100 million and growing
Expand internationally through partnership strategy
Continue to drive adoption of LED general lighting products by continually improving performance and reducing cost
Partnership with Dixon Technologies to expand into India’s $1.8 billion lighting market
Partnership with Shanghai Automotive to bring high performance, low cost LED infrastructure lights to Eastern China
Technology expertise and system integration capabilities in place to improve efficacy
Shifting production to lower labor cost geographies
Relationships with strategic vendors to reduce material costs 17

18. Strong management team
Jim Haworth
18 years of lighting industry experience in marketing, operations, manufacturing and general management
Vice President of marketing and strategy at Philips Lighting
President and CEO of JJI Lighting Group
Fred Maxik
Leading mind in the science and technology of lighting
Founder of Lighting Science Group
38 patents in the field of solid state lighting
Selected as a “Champion of Change” by the White House in May 2011
Charts
CEO
CTO & Founder
Greg Kaiser
15 years of senior-level experience in accounting positions at public companies
Vice President and CFO of internal division at HD Supply
Assistant Corporate Controller at Hughes Supply
John Stanley
10 years of production and logistics experience managing manufacturing operations in automotive, electronics, furniture and metals industries
Senior operating positions at Acuity, Delphi, Shapes and Rowe Fine Furniture
CFO
COO
David Henderson
11 years of experience in product development and engineering
Director of Product Management and Engineering for Acuity Brands Lighting, Holophane Division
Engineering Manager at Thomas & Betts
Edward Russ
Experience in a variety of technology organizations in multiple industries, including automotive and remote asset management
COO of StreetSmart Technology
VP and GM for Acuity Brands’ ROAM business
CDO
CBDO 18

19. Attractive financial model
Strong revenue growth
LED penetration driving massive TAM growth
LSG continuing to expand channel relationships and introduce new products, capturing market share
Increasingly strong indications from customers focused on ramping volume and expanding LED product range
Demonstrable path to margin improvement
LSG developed supply chain to anticipate surging demand
Manufacturing efficiencies and shift to lower-cost geographies
Design improvements along with reduced materials costs
Opportunity to leverage existing operating cost structure for expected ramp-up in sales
Investing for continued & long-term growth
Investments and new-hires in sales & marketing
Enhanced balance sheet improves commercial relationships and partnerships
Continued investments in technology and product innovation 19