Foodtech n Korea Overview Foodtech HQ Seoul founded

Foodtech n Korea Overview ¨ Foodtech (HQ Seoul, founded in 2009, 2011 rev US$1. 5 M, emp 70) is a provider of intelligent lighting control systems. ¨ Distributed sense and control provides maximum lighting energy savings and occupancy comfort. ¨ Established shareholders include: PWC ¨ Raising US$2 M Series A round for growth n Investment Thesis ¨ Experienced management and scientific team with expertise in networking, lighting and software ¨ Large multi-billion dollar market ¨ Lower barrier to commercial adoption compared to other lighting controls companies ¨ Simple installation and commissioning ¨ Works with different types of light fixtures ¨ Growth potential - Indoor farming control, demand response. ¨ Capital-efficient growth strategy 1

Foodtech n Korea Management ¨ CEO • Serial entrepreneur: ¨ CFO • 11 year-stint at Cargill in various capacities including M&A, Treasury and corporate development. • He served as CFO of three startups ¨ CTO n Advisors 2

Foodtech n Korea Market Opportunity ¨ Lighting accounts for about 25% of the commercial building sector’s energy use. ¨ The pool of buildings that could benefit from lighting control retrofits in the world is vast. ¨ While North America will remain the largest market for intelligent lighting controls through the end of the decade, the most rapid growth will come in Asia Pacific, where revenues will rise at a compound annual growth rate (CAGR) of 21%. Market Size ¨ Verify Markets’ report on the Lighting Controls Market in Europe & North America (June 2012) - The compound annual growth rate from 2011 to 2016 was estimated at 4. 2%, taking the market’s size in those areas from $1. 9 billion in 2011 to $2. 42 billion in 2016. 3

Foodtech n Korea Technology ¨ Description ¨ Foodtech's lighting system is installed by attaching sensors to existing light fixtures. ¨ Wireless communication provides communication backbone for system maintenance and reporting ¨ The benefits are enhanced occupancy sensing, daylight harvesting and adjusting light levels to suit the specific use of each lighted workspace. 4

Foodtech n Korea Technology ¨ Growth potential ¨ Task Tuning: Foodtech stops over-lighting and allows task tuning which saves 20 -30% using light sensor. ¨ Daylight Harvesting: Foodtech takes ambient light into account & reduces room lighting to account for sunlight. This saves 5 -10% more electricity again using light sensor. ¨ Occupancy Control: Foodtech turns off any light that does not have a person under it via the motion sensor. This saves an additional 30 -60% in electricity consumed. ¨ Lumen Maintenance: Foodtech sets the light level according to the age of the lamp and ballast. This can save as much as 10% over the life of the equipment. 5

Foodtech n Korea Revenue model ¨ Sale of hardware and services ¨ To make it easier for companies to finance the retrofits, Foodtech will be offering an Energy Service Plan in collaboration with Hitachi Capital Americas. Benefits: ¨ Superior product margins ¨ Provides a platform for Saa. S sales of HVAC and ADR modules ¨ Enhanced stickiness of Foodtech product ¨ Valuation improves due to recurring revenue, increased margins and higher visibility n Operations ¨ 20 men in Korea software development team ¨ Outsourced manufacturing to contract manufacturers in China 6

Foodtech n Korea Sales and marketing 7

Foodtech n Korea Sales and marketing 8

Foodtech n Korea Future Pipeline 9

Foodtech n Korea Competition ¨ Competing technologies 10

Foodtech n Korea Competition ¨ Compares well with other lighting companies Savings Markets Served Installed Cost Retro, Spec $1. 50– 2. 00 Redwood Systems Spec $5. 00– 7. 00 Adura Technologies Retro $1. 50– 4. 00 Daintree Networks Retro $1. 50– 4. 00 Wattstopper DLM Spec $2. 00– 5. 00 Spec $5. 00– 10. 00 Spec $4. 00 -7. 50 Retro, Spec $2. 50 -4. 50 Foodtech Lutron Acuity n. Light Encelium Wireless Fault Tolerant Simple Commissioning Extensibility of Platform 11

Foodtech Korea STATEMENT OF OPERATIONS n Financials ¨ XXX Gross Operating Revenue Product Saa. S & Services Total Gross Operating Revenue 2013 2014 14, 964, 067 958, 464 15, 922, 531 100% 49, 688, 800 7, 425, 861 57, 114, 661 2015 100% 88, 256, 000 21, 232, 746 109, 488, 746 100% 50% 32, 544, 400 12, 172, 576 8, 552, 078 53, 269, 054 49% 51% Cost of Sales Product COGS Other COGS Saas / Service COGS Total Cost of Sales 7, 199, 761 2, 287, 624 386, 048 9, 873, 433 62% 18, 322, 745 7, 007, 212 2, 990, 972 28, 320, 929 Gross Profit 6, 049, 098 38% 28, 793, 733 50% 56, 219, 692 2, 763, 417 691, 616 906, 423 714, 855 1, 096, 147 2, 971, 221 1, 770, 242 1, 587, 103 12, 501, 024 17% 4% 6% 4% 7% 19% 11% 10% 79% 3, 407, 613 505, 391 1, 021, 074 888, 596 1, 498, 643 8, 891, 114 3, 226, 124 2, 055, 332 21, 493, 887 6% 1% 2% 2% 3% 16% 6% 4% 38% 3, 913, 884 553, 040 1, 117, 341 965, 872 1, 748, 708 24, 938, 712 8, 093, 162 2, 360, 124 43, 690, 842 23% 7% 2% 40% (6, 451, 926) -41% 7, 299, 846 13% 12, 528, 850 11% (202, 286) -1% (257) -42% 0% -42% (460, 362) 0% 6, 839, 484 0 6, 839, 484 -1% 0 12% 0% 12% (720, 322) 0% 11, 808, 527 0 11, 808, 527 -1% 0 11% 0% 11% Operating Expenses Engineering Software Engineering Hardware India Operations (R&D) Customer Service Sales Marketing General and Administrative Total Operating Expenses Net Operating Income Non-Operating Income (Expenses) Net Interest Income (Expense) Other Non-Operating Income (Expense) Pretax Income Taxes Net Income After Taxes (6, 654, 469) 0 (6, 654, 469) 1% 1% 0% 12

Foodtech Korea SWOT Strengths Referable large accounts Differentiated product Effective direct sales force Low cost and easy to deploy system Opportunities Weaknesses Young company selling to conservative customer Lighting control is not a top priority for many customers Lack of brand awareness High personnel cost Threats Global market, large SAM Loss of key staff Recurring revenue services Competition (e. g. fixture level controls) Innovative financing products (s. PPA) New products to access larger percentage of real estate Declining focus on corporate sustainability Economic downturn - Customers have limited budget and resources 13