Fourth Quarter and Fiscal 2016 Results Earnings Conference Call

June 22nd, 2016

Forward-Looking Information

This document contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “outlook”, “target”, “goal”, “guidance”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Statements with respect to potential benefits and synergies resulting from completed transactions and to future accretion to earnings per share constitute forward-looking information. Forward-looking information includes statements relating to annual targets, outlook, guidance and updates. See “Financial Outlook” in the Company’s Management’s Discussion & Analysis filed for the Fourth Quarter Fiscal 2016. Forward-looking information is provided for the purposes of assisting the reader in understanding the Company’s financial performance, financial position, cash flows, its business, operations, prospects and risks at a point in time, and to present information about Management’s current expectations and plans relating to the future and therefore the reader is cautioned that such information may not be appropriate for other purposes.

Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors discussed under section “Risk Factors” in the Company’s Management’s Discussion & Analysis filed for the Fourth Quarter Fiscal 2016.

Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions made in preparing the forward-looking information and our objectives include: our ability to generate sufficient revenue while controlling our costs and expenses; our ability to manage our growth effectively; the absence of material adverse changes in our industry or the global economy; our ability to manage and integrate acquisitions; our ability to manage risks related to international expansion; our ability to raise sufficient debt or equity financing to support our business growth; our ability to maintain good business relationships with our agents and Value-Added Resellers (“VARs”); our ability to expand our sales and distribution infrastructure and our marketing; trends in our industry and markets; our ability to develop products and technologies that keep pace with the continuing changes in technology, evolving industry standards, new product introductions by competitors and changing client preferences and requirements; our ability to purchase components for our products at competitive prices; our ability to protect our intellectual property rights; the absence of intellectual property infringement or invalidity claims against us; our ability to retain key personnel; our ability to renew the leases for our existing facilities or find alternative facilities that meet our current and future needs, and assumptions used in preparing our Fiscal 2017 financial guidance under the section “Financial Outlook” in the Company’s Management’s Discussion & Analysis filed for the Fourth Quarter Fiscal 2016.

Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law and the Company reserves the right to change, at any time at its sole discretion, its current practice of providing annual targets and guidance.

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Presenters

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François-Xavier Souvay President and CEO

Peter Timotheatos Executive Vice President and CFO

Lumenpulse Inc. Fourth Quarter and Fiscal 2016 Results François-Xavier Souvay President and CEO

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1 Net Income of $3.1 million or diluted EPS of $0.12 for Fiscal 2016 2 Please see our MD&A for the definition of our adjusted measures and their reconciliation to IFRS measures

Fiscal Year 2016: Consolidated revenues of $145.1 million, up 44%

Lumenpulse Product revenues of $137.1 million, up 55%

Adjusted EBITDA of $11.1 million, or 7.6% of revenues, up from 3.6%

Adjusted Diluted EPS of $0.30, up from $0.10 Q4 2016: Consolidated revenues of $40.3 million, up 30%

Lumenpulse Product revenues of $38.9 million, up 37%

Adjusted EBITDA of $1.3 million, or 3.2% of revenues vs 6.2%

Adjusted Diluted Loss per share of $0.09, vs Adjusted Diluted EPS of $0.04

Highlights Fiscal 2016 and Q4

Strong growth and improved profitability in Fiscal 2016

In-year Acquisitions

Deepens our architectural indoor LED lighting solutions with solutions in the technical decorative segment for a wide range of indoor environments (retail, hospitality, etc.)

Provides a strong entry point in Italy with a well-

established network of agents and VARs Adds a highly creative team in product design

Deepens our architectural indoor LED lighting solutions in

the fast growing office and educational market segment Adds a distinctive product offering combining minimalist

product design with an innovative, proprietary anidolic optical technology

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Target acquisition program completed

Fluxwerx - March 2016 ($60 million1)

Exenia - December 2015 ($14.9 million1)

SDL Lighting - March 2015 ($3.2 million)

Ariane Controls - February 20152

AlphaLED - July 2014 ($30.4 million) Objectives of this acquisition program:

Expanded our product portfolio with complementary LED specification-grade products

Increased our addressable market from 20% to 80% Increased our geographic coverage Expanded our LED expertise in new vertical segments Leveraged our proprietary technologies to enhance product offering Integrated management with deep industry knowledge and aligned

interest through Lumenpulse ownership

Acquisition Program

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1 Excluding potential earn-out 2 Non-disclosed amount.

Fiscal 2016 and Q4 2016

FY 2016 LP revenues in North America of $100.8 million Y/Y growth of 76% (59% in constant currency “cc”)

Q4 2016 LP revenues in North America of $27.7 million Y/Y growth of 42% (37% in cc basis) – Fluxwerx contributed $3.1 million – Softer growth when compared to Q3 2016 over Q3 2015

which was 85% (64% in cc basis)

Marketing developments – Training: FLuxwerx and Lumenpulse combined training in

Montreal with over 60 Agents attending – Lightfair 2016 including integration of Exenia and Fluwerx

products – LED Education in NYC – Translation of Fluxwerx website and catalog – Two new regional sales managers in Ontario and Vancouver

North American Market 8

Fiscal 2016 and Q4 2016 FY 2016 International revenues of $36.3 million

growth of 14% (3% in cc basis)

Q4 International revenues of $11.1 million, Y/Y growth of 25% (22% in cc basis)

Marketing investments – Trained the UK team in Italy on Exenia portfolio – Trained Exenia team and agents on Lumenpulse and

Lumenalpha portfolio – Trained our clients in France on RDM and Lumentalk – Invested in marketing materials

International Market 9

Manufacturing and Supply Chain

FY 2016 Accomplishments Continue to strengthen existing processes to maximize quality, lead-time, and costs Leveraged our manufacturing capacity (record output) Progressed towards a lean manufacturing philosophy Implemented a “one-stop shop” supply chain solution Strengthened our quality assurance Addition of manufacturing capacity through acquisitions

Florence, Italy Vancouver, BC

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FY 2016 Accomplishments Strong first year performance of Lumenalpha portfolio in

North America Introduction of Lumenalpha 2.0 Introduced the second generation of Lumentalk Introduction of new optics for Lumenline New features and product improvements:

- Wallwash optics throughout Lumenfacade family

- Introduced Remote Device Management (DMX/RDM)

- RGBW option to the Lumenbeam Color changing

Dim to Warm technology available across product portfolio

Completed the installation of an in-house optical lab Two awards: Lumenbeam LBX HO luminaire and the

Lumentalk installation at Next Rugby, UK

Product and Technology 11

98 patents1

1 As of April 30 2016

Landmark Projects SUNY, Albany

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Lumenpulse Inc. Fourth Quarter and Fiscal 2016 Results Peter Timotheatos Executive Vice President and CFO

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Adjusted1 Adjusted1 IFRS IFRS

IFRS FY 2016 FY 2015 Change FY 2016 FY 2015 ChangeRevenues - Consolidated 145.1 100.7 44.4 145.1 100.7 44.4 Growth 44% 44%

Revenues - Lumenpulse products (LP) 137.1 88.5 48.6 137.1 88.5 48.6 Growth 55% 55%

Gross Profit % - Consolidated 48% 43% 5 pts 47% 43% 4 ptsGross Profit % - LP 49% 45% 4 pts 48% 44% 4 ptsEBITDA3 11.1 3.6 7.5 4.7 1.6 3.1 Net Income (Loss) 7.5 2.5 5.0 3.1 (0.4) 3.5 EPS (Loss per Share) - Diluted2 0.30 0.10 0.20 0.12 (0.02) 0.14

For the Fiscal Years Ended April 30, 2016 and 2015

Key Financials Fiscal 2016

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(millions CAN$ - except per share data)

Fiscal 2016 was marked by Revenue growth of 44% (31% on a cc basis) Adjusted Gross Margin increased by 5 pts

1 Adjusted measures definition has been revised in the third quarter of Fiscal 2016. Please refer to sections “Basis of Presentation” and “Adjusted Measures Restatement” in the MD&A for more details. 2 The calculations for the twelve-month period ended April 30, 2016 include the effect of 923,176 stock options, which are deemed to be dilutive. In the periods where the Company incurred net losses, all potentially dilutive stock options have been excluded from the calculation of diluted loss per share. All outstanding share options could potentially dilute earnings per share in the future.

Key Financials Q4 Fiscal 2016

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(millions CAN$ - except per share data) Unaudited

Q4 was marked by Revenue growth of 30% (26% on a cc basis) Profitability impacted by significant short-term foreign exchange

volatility Additional selling and marketing costs Integration activities of recent acquisitions

1 Adjusted measures definition has been revised in the third quarter of Fiscal 2016. Please refer to sections “Basis of Presentation” and “Adjusted Measures Restatement” in the MD&A for more details.

Adjusted1 Adjusted1 IFRS IFRS

Q4 2016 Q4 2015 Change Q4 2016 Q4 2015 ChangeRevenues - Consolidated 40.3 31.0 9.3 40.3 31.0 9.3 Growth 30% 30%

Revenues - Lumenpulse products (LP) 38.9 28.4 10.5 38.9 28.4 10.5 Growth 37% 37%

Gross Profit % - Consolidated 47% 44% 3 pts 45% 43% 2 ptsGross Profit % - LP 47% 45% 2 pts 45% 44% 1 ptsEBITDA 1.3 1.9 (0.6) (1.7) 1.2 (2.9) Net Income (Loss) (2.3) 0.9 (3.2) (2.5) - (2.5) EPS - Diluted (0.09) 0.04 (0.13) (0.10) - (0.10)

For the Fourth Quarters Ended April 30, 2016 and 2015

Fiscal 2016 Revenue Performance 16

LP Product growth of 18% from Q4 2014 to Q1 2015

LP Revenues: Y/Y Growth 55% (41% cc basis)

Lumenpulse product revenues reached $137.1 million, a 55% growth Y/Y Driven by the continued leveraging of our existing product families and further penetration of

our agent network in North America In-Year acquisitions contributed $8.4 million OMP decreased 34% from $12.2 million to $8.0 million, in line with planned phase-out

Consolidated Revenues: Y/Y Growth 44% (31% cc basis)

(millions CAN$) (millions CAN$)

Q4 Revenue Performance 17

LP Product growth of 18% from Q4 2014 to Q1 2015

Consolidated Revenues: Q4 2016 Growth Y/Y: 30% (26% cc basis)

Lumenpulse product revenues reached $38.9 million, 37% growth Y/Y (33% cc basis) Driven by $7.2 million of in-year

acquisitions and the increased market penetration through our agent network and VARs

OMP represented 3.6% of total revenues

(millions CAN$)

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FY 2016 - LP North America: Leveraging of product line, further penetration

of agents and VARs network, expansion of our addressable market

- LP International: up 17% (6% cc basis)

- In-year Acquisitions contributed $8.4M to total LP revenues

Lumenpulse Product Revenues Breakdown by geographic market

Fiscal 2016: Strong LP in North America Y/Y Growth of 76% (59% in cc basis)

Q4 2016 - LP North America: Leveraging of product line, further

penetration of agents and VARs network, expansion of our addressable market

- LP International: up 26% (23% cc basis) driven by in-year acquisitions

- In-year Acquisitions contributed $7.2M to total LP revenues

Q4 2016: Strong LP in North America Y/Y Growth of 42% (38% in cc basis)

Profitability EBITDA Margin

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Adjusted EBITDA breakdown

Q4 2016 Adjusted EBITDA at 3% compared to 10% in Q3 explained by:

Adjusted GM % at 46.9% vs 50.3% due to: - Unfavourable foreign exchange impact driven by

the in-quarter volatility of foreign exchange rates - Inventory and materials purchased at a

higher exchange rate - Sales generated at a lower USD/CAD rate - In-year Acquisitions which generate lower

Adjusted gross margins and the timing of acquisitions within the quarter

Minimal EBITDA contribution of In-year acquisitions

Operating expenses related to Lightfair and integration activities

1Gross margin % and OPEX % are unadjusted for unusual and non recurring items. Measures exclude only depreciation.

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Non-Adjusted Measures1 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016

GM % (excl. depreciation) 44% 47% 50% 50% 45.0%OPEX % (excl. depreciation) 40% 44% 39% 45% 50.0%EBITDA 4% 3% 11% 5% -5.0%

Adjusted OPEX Analysis Q4 Adjusted OPEX % at 44%: Consolidation of In-year Acquisitions

Adjusted OPEX Selling & Marketing: higher

commissions % due to a change in the regional mix and higher salary expenses to support growth

Lightfair 2016 Integration activities related to In-year

Acquisitions

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(millions CAN$)

(% of Total Revenues)

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IFRS Measures (OPEX - Total)Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016

(M CAD$) 13.1 15.1 15.6 17.4 22.5(%) 42% 47% 42% 49% 56%

Key Financials Balance sheet and cash flow overview

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(millions CAN$)

1 Subsequent to the third quarter, on March 9, 2016, the Company cancelled its previous Revolving Credit Facility of up to $10M and entered into a new revolving credit facility of up to $40M 2 Long term debt is comprised of finance lease obligations of $0.137M

Positive operating cash flow of $15.3M

Strong balance sheet at year end

FY 2016 FY 2015 Change Q4 2016 Q4 2015 ChangeCash flow from operating activities before net change in non-cash operating items

7.2 1.9 5.3 (1.1) 0.6 (1.7)

Net change in non-cash operating items 8.1 (8.3) 16.4 8.3 0.2 8.1

Operating cash flow 15.3 (6.4) 21.7 7.2 0.8 6.4

Capital expenditures (7.9) (5.0) (2.9) (2.5) (1.9) (0.6)

Cash flow after capital expenditures 7.4 (11.4) 18.8 4.7 (1.1) 5.8

As at April 30 2016

As at April 30 2015 Change

Cash 21.1 43.5 (22.4)

Working capital (including Net Cash) 24.0 66.0 (42.0)

Revolving credit facilities1 13.3 - 13.3

Long term debt2 0.1 0.3 (0.2)

Capex spending of $7.9M FY 2016, remaining in the 5% range as per FY 2015

Cash Flow Cycle Elements 22

Inventory maintained at $24M including inventory from In-year Acquisitions. Improved ratio to 3.4x turn

Including In-year Acquisitions DSO of 51 days. We expect to maintain DSO level within 50-55 days.

Positive Q4 cash flow driven by improved working capital management

Cash flow from operating activities (millions CAN$) (millions CAN$)

(millions CAN$) (millions CAN$)

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Focus on integrating our recent acquisitions

Deliver on our organic growth plan and product road map

Adapt Exenia products to the North American market

Prepare Fluxwerx products for the European market

Continue to increase production capacity utilization and operating leverage to drive profitability

Going Forward

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Guidance

- For Fiscal 2017, we expect revenues of $230 to $240 million and anticipate an Adjusted EBITDA margin of 12%-14%.

- In addition to our annual guidance, we remain committed to our long-term goals

Assumptions

- Stability in foreign currency exchange rates;

- Moderate growth in the International market reflecting a slower start for the first half of the fiscal year and a progressive contribution of the newly hired U.K. sales team;

- Organic growth in Canada and U.S. exceeding the growth of the general lighting market;

- Fluxwerx revenue contribution at the lower end of their earn-out range;

- Revenue growth outpacing the growth of operating expenses; and

- No additional acquisition during Fiscal 2017.

Guidance on Fiscal 2017

There’s more online Lumenpulse.com

Questions? Investor Relations 1-877-937-3003 IR@lumenpulse.com

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Appendix

Appendix

Reconciliation of Non-IFRS Measures

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For reconciliation of all non-IFRS measures please refer to please refer to “Reconciliation of Non-IFRS Measures” in the Company's Management's Discussion & Analysis for the Fourth Quarter Fiscal 2016 filed with the Canadian securities regulatory authorities, which is available on the SEDAR website at www.sedar.com.

Q4'16 F2016

Actual Actual

Net Income (Net Loss) (2,528) 3,096

Net financing cost (income) 2,505 (394) Income taxes (credits) (4,486) (4,746) Depreciation and amortization 2,809 6,780

EBITDA (1,700) 4,736

Unusual and non-recurring items 2,654 5,064 Non-cash share-based compensation 349 932 Unrealized gain on cash share-based compensation 6 352

Adjusted EBITDA 1,309 11,084

Depreciation and amortization (2,809) (6,780) Net financing (cost) income (2,505) 394 (Income) taxes credits 4,486 4,746 Unusual and non-recurring tax recoveries (764) (1,041) Unusual and non-recurring deferred income tax asset recognition (3,697) (3,697) Unusual and non-recurring items 475 475 Amortization on acquired intangible assets 1,230 2,318

Adjusted Net Income (Net Loss) (2,275) 7,499 Adjusted Earnings (Loss) per share - Diluted ($0.09) $0.30

(1) Costs related to the acquisition of all of the equity interests of Exenia (2) Costs related to the acquisition of all of the outstanding shares of Fluxwerx (3) Costs related to acquired profit in Exenia’s inventory (4) Accretion expenses related to the contingent earn-out payment, post-closing adjustment and cash holdbacks resulting from the acquisition of Exenia and Fluxwerx.

1,2,3

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29 Non-IFRS Measures

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This document makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of the Company’s results of operations from Management’s perspective. The non-IFRS measures permit assessment of the results generated by the Company’s core business, prior to consideration of how the activities are financed, how the results are taxed or the non-cash impact associated to the volatility of the Company’s share price. Unusual or other items of a non-recurring nature, that could make the period-over-period comparison of the Company’s underlying business less meaningful or not representative of future performance, are further excluded from Adjusted Non-IFRS measures. Although amortization of acquired intangible assets, expense for share-based compensation, non-recurring expenses and expense for unrealized gains or losses on revalued cash share-based compensation and unusual tax recoveries have been recognized in prior periods and could reoccur in future periods, Management excludes these charges during internal reviews of performance, operational analysis, decision making, and other activities. These measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS. Management’s definition of these measures may differ from similarly titled measures reported by other companies. We use non-IFRS measures including EBITDA, Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Gross Profit, Adjusted Operating Expenses, Adjusted Selling and Marketing Expenses, Adjusted Research and Development Expenses, Adjusted General and Administrative Expenses, Adjusted Earnings (Loss) per share-basic and diluted and Constant Currency revenues to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. EBITDA is defined as earnings before net financing (income) costs, income taxes (recovery), and depreciation and amortization. Adjusted EBITDA is defined as EBITDA less unusual and non-recurring items, non-cash share-based compensation and unrealized gains or losses on revalued cash share-based compensation. Unusual and non-recurring items is defined as expenses incurred for the initial public offering (“IPO”), acquisition-related costs, including acquired profit in finished good inventory, and employee termination costs associated with an operational restructuring. Unrealized gains or losses on revalued cash share-based compensation is defined as gains or losses on revalued cash share-based compensation which has been expensed and is unexercised at the end of the reporting period. These unrealized gains or losses are driven by the fluctuation of the Company’s common share price during the reference period. Adjusted Net Income (Loss) is defined as net income (loss) before net change in carrying value of the redeemable shares at the option of the holders and related financial derivative liability, early repayment fee on long-term debt, unusual and non-recurring items, unusual tax recoveries, unusual and non-recurring deferred income tax asset recognition, non-cash share-based compensation, unrealized gains or losses on revalued cash share-based compensation and amortization of acquired intangible assets. Unusual tax recoveries is defined as temporary differences between the carrying amounts of assets and liabilities acquired through business acquisitions and the corresponding tax basis used in the computation of taxable profit. Unusual and non-recurring deferred tax asset recognition is defined as the deferred income tax asset recognized by assessing the measurement and recoverability of operating tax losses when considering the impact of the recent acquisitions on future forecasted profitability.

30 Non-IFRS Measures Continued

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Adjusted Gross Profit is defined as gross profit less non-cash share-based compensation, unusual and non-recurring items, unrealized gains or losses on revalued cash share-based compensation and depreciation and amortization. Adjusted Operating Expenses is defined as operating expenses less non-cash share-based compensation, unrealized gains or losses on revalued cash share-based compensation, depreciation and amortization, and unusual and non-recurring items. Adjusted Selling and Marketing Expenses is defined as selling and marketing expenses less non-cash share-based compensation, unrealized gains or losses on revalued cash share-based compensation, and depreciation and amortization. Adjusted Research and Development Expenses is defined as research and development expenses less non-cash share-based compensation, unrealized gains or losses on revalued cash share-based compensation, and depreciation and amortization. Adjusted General and Administrative Expenses is defined as general and administrative expenses less non-cash share-based compensation, unrealized gains or losses on revalued cash share-based compensation, depreciation and amortization, and unusual and non-recurring items. Adjusted Earnings (Loss) per share – basic is defined as the Adjusted Net Income (Loss) on the weighted average number of ordinary shares outstanding during the period. Adjusted Earnings per share – diluted is defined as the Adjusted Net Income on the weighted average number of ordinary shares outstanding during the period and all potentially dilutive stock options. Adjusted Loss per share – diluted is defined as the Adjusted Net Loss on the weighted average number of ordinary shares outstanding during the period. In the periods where the Company incurred net losses, all potentially dilutive stock options have been excluded from the calculation of diluted loss per share. All outstanding share options could potentially dilute earnings per share in the future. Constant Currency revenue is a measure of revenue before foreign exchange impacts. The revenue is calculated by translating current period results in local currency using the conversion rates of the comparable period of the prior year. Management believes that it is helpful to adjust revenue to exclude the impact of currency fluctuations to facilitate period-to-period comparisons of our performance. For a reconciliation of net income (loss) to EBITDA, Adjusted EBITDA and Adjusted Net Income (Loss), a reconciliation of gross profit to Adjusted Gross Profit, a reconciliation of operating expenses to Adjusted Operating Expenses, a reconciliation of selling and marketing expenses to Adjusted Selling and Marketing Expenses, a reconciliation of research and development expenses to Adjusted Research and Development Expenses and a reconciliation of general and administrative expenses to Adjusted General and Administrative Expenses, see section 2.2.1 “Reconciliation of Non-IFRS Measures” in the Company’s Management’s Discussion & Analysis filed for the Fourth Quarter Fiscal 2016. For a reconciliation of the Constant Currency revenues, see section 2.3.1 “Analysis of Results of the Fourth Quarters and the Fiscal Years ended April 30, 2016 and 2015” in the Company’s Management’s Discussion & Analysis filed for the Fourth Quarter Fiscal 2016. .