Slide 1: A Global Leader in Next-Generation Optics & Imaging Solutions
A Global Leader in Next- Generation Optics & Imaging Solutions NASDAQ: LPTH | Investor Presentation | June 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains “forward-looking” statements that are based on our beliefs and assumptions and on information currently available to us. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategie
Slide 3: About LightPath
Company Government & Defense Commercial About LightPath NASDAQ: LPTH LightPath is a leading provider of next-generation optics & Share Price1 $2.80 imaging systems for defense and commercial applications. Market Cap1 $120.1M TTM Revenue2 $33.6M • Multi-billion-dollar market in defense and commercial
Slide 4: Engineering a New LightPath
Company Government & Defense Commercial Engineering a New LightPath LightPath is transitioning to a solutions-oriented approach for high value customers geared towards driving higher revenue & gross margins Legacy LightPath LightPath 2.0 LightPath 3.0 Components Supplier Solutions Provider Imaging S
Slide 5: Vertical Integration
Company Government & Defense Commercial Vertical Integration • Cooled Mid-wave Zoom Cameras • Uncooled Infrared Cameras and OEM Modules • Optical Assemblies • Optical System Design • Optical Coatings Services • Optics Fabrication • Infrared Materials | 5
Slide 6: Management Team
Company Government & Defense Commercial Management Team Sam Rubin Albert Miranda President & Chief Executive Officer Chief Financial Officer 25 Years in Optics 22 Years in Optics Owner / Exec / Sales / R&D / M&A Finance / GM / Exec / M&A Joined Company in 2021 Joined Company in 2020 Revenue Growth o
Slide 7: LightPath's Evolving Transformation
Company Government & Defense Commercial LightPath’s Evolving Transformation • New strategy Internal • Insourced services • Rightsizing the company, global footprint, • Manufacturing back in the US Board of Directors • EU defense manufacturing license • Sunsetting unrelated products • Acquisition and
Slide 8: Infrared Imaging Market Opportunity
Company Government & Defense Commercial Infrared Imaging Market Opportunity Multispectral cameras will be able to replace multiple camera modules in each application Global Thermal Camera Market (in $ millions) Market data on thermal cameras estimates a $8,761 $8,311 7% CAGR to ~$9 billion $7,776 $7
Slide 9: Markets Served Overview
Company Government & Defense Commercial Markets Served Overview Other Cameras and optics can be modified for 13% different applications allowing LightPath to Telecom deliver solutions to a diverse market of 5% Defense/Gov't verticals and a growing defense and 30% government segment Commercial Market
Slide 10: Key Product: Chalcogenide Glass
Company Government & Defense Commercial Key Product Chalcogenide Glass LightPath Black Diamond – Proprietary Chalcogenide Glass Solution A made-in-the-USA cost effective Germanium exports from China are alternative to Germanium banned - White House identified Germanium as a key strategic mineral wit
Slide 11: Key Product: Multi-Spectral Imaging Solutions
Company Government & Defense Commercial Key Product Multi-Spectral Imaging Solutions Short Wave Infrared Innovative Technology in next generation Camera (SWIR) multispectral imaging systems Common Aperture multiband camera reduces weight, size and cost Key enabling technology behind MANTIS Mid Wave
Slide 12: Next Level Customization
Company Government & Defense Commercial Next Level Customization Capability to build custom sensor and software systems for cameras unlocks the production of highly customized variations on MANTIS for application specific use. Application Specific Imaging System Custom lens assemblies using Complete
Slide 13: MANTIS Camera Solutions
Company Government & Defense Commercial MANTIS Camera Solutions MANTIS Highlights: First of its kind – The only solution of its kind that combines the functionality of a Mid Wavelength Infrared (MWIR) and Long Wavelength Infrared (LWIR) camera in one housing No Germanium Used - White House identifie
Slide 14: LightPath Camera Solutions
Company Government & Defense Commercial LightPath Camera Solutions LightPath 3.0 Product Lineup LightPath’s solutions prior to the acquisition of G5 were based on UNCOOLED cameras, addressing more affordable price point solutions ($1K - $30K), and mostly operating in the Long Wave Infrared (LWIR) sp
Slide 15: EdgeIR
Company Government & Defense Commercial EdgeIR AI Ready Infrared Cameras Acquisition of Visimid added the capability to build custom sensor and software systems for LightPath Cameras. This new capability unlocks the production of highly customized variations on MANTIS for application specific uses.
Slide 16: Cooled IR Camera Solutions
Company Government & Defense Commercial Cooled IR Camera Solutions Long Range Imaging – Brought by G5 Acquisition Applications: Long Range Detection of Naval Surveillance Person & Vehicles Border Protection Ship Protection, Long Range Long Range Detection Surveillance 16Km | 16
Slide 17: Counter Unmanned Aerial System (C-UAS)
Company Government & Defense Commercial Counter Unmanned Aerial System (C-UAS) High Growth Market – Portfolio of passive camera systems that can detect drones up to 17Km away without emitting any active signal | 17
Slide 18: 3 Pillars of Growth
Company Government & Defense Commercial 3 Pillars of Growth Products and solutions applicable to growing and diverse applications Optical & Camera Government: Commercial Assemblies Defense & Aerospace Applications • Multispectral imaging systems • Unique materials provide an • Oil and Gas plant emis
Slide 19: Government & Defense
Government & Defense LightPath
Slide 20: Government & Defense
Company Government & Defense Commercial Government & Defense As global threat levels rise, LightPath solutions provide defense customers with solutions to meet the accelerating need for new advanced technologies. Qualified optics supplier Exclusive license from DoD Fastest growing market from for ma
Slide 21: Short Range Air Defense System
Company Government & Defense Commercial Short Range Air Defense System Program of Record – Customer Name Lockheed Martin Co. PE 0604117A/ Maneuver – Short Range Air Defense Target Application U.S. Army Stinger Missile (M-SHORAD) LightPath Product I.R. Imager RFP: March ‘23 RFQ/RFP timeline RFQ: Augu
Slide 22: Consolidated Tower & Surveillance Equipment
Company Government & Defense Commercial Consolidated Tower & Surveillance Equipment Program of Record – – 024_000005289 Integrated Surveillance Towers Customer Name Elbit of N. America Consolidated Tower & Surveillance Target Application Equipment (CTSE) Lightpath/G5 product Cooled Camera System Sta
Slide 23: Commercial Applications
Commercial Applications | 23
Slide 24: Industrial Applications
Company Government & Defense Commercial Industrial Applications Mantis cameras are used to monitor high-temperature processes inside boilers and furnaces in power plants, while OGI cameras are used to detect gas leaks in energy production Environmental regulations in the US and Europe are dramatical
Slide 25: Oil & Gas
Company Government & Defense Commercial Oil & Gas Fugitive Emission Monitoring Uncooled OGI Cameras Strategically placed around a well pad or Central Delivery Point continuously monitors methane emissions 24/7 tracking potential fugitive emissions. | 25
Slide 26: Automotive & Smart Cities
Company Government & Defense Commercial Automotive & Smart Cities “Night Vision” in existing Cadillac CT6 Government proposal would require automatic emergency braking (AEB) in all cars and light trucks Recent National Highway Traffic LightPath thermal imaging Safety Administration proposed rule ass
Slide 27: Significant Manufacturing Capacity
Company Government & Defense Commercial Significant Manufacturing Capacity Orlando, Florida Plano, Texas Principal Production Facility Prototyping & R&D Hub • 2023 facility expansion to • Prototyping 55,000 sq. ft. and 11,700 sq. ft • R&D clean room space • Molded Lens Manufacturing • Additional roo
Slide 28: 3-5 Year Growth Framework
Company Government & Defense Commercial 3-5 Year Growth Framework Substantially scaling revenue, EBITDA and profitability Engineered solutions growth rate of 40 – 60% Components business growth rate of 10% Defense sales achieve $100 million Automotive customers in production and shipping >100,000 un
Slide 29: Investment Highlights
Company Government & Defense Commercial Investment Highlights Industry Opportunity “This • Multi-billion-dollar market in defense and commercial applications for infrared imaging systems and technology strategy is based on our including the MANTIS camera strengths and our core capabilities to addres
Slide 30: Contact Us
Contact Us Investor Relations Lucas A. Zimmerman LPTH@mzgroup.us 949-259-4987 Engage with us Twitter Linkedin Web @lighpathtech lightpath-technologies www.lightpath.com LightPath Confidential – DO NOT DISTRIBUTE Global Leader in Optical & Infrared Solutions