Exhibit 99.2

ACUITY BRANDS, INC.

UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS

YEAR ENDED AUGUST 31, 2007

(In thousands, except per-share data)

	Historical			Discontinued Operations Adjustments (A)			Continuing Operations
Net Sales	$	2,530,668		$	(565,887	)	$	1,964,781
Cost of Products Sold		1,460,775			(240,309	)		1,220,466
Gross Profit		1,069,893			(325,578	)		744,315
Selling, Distribution, and Administrative Expenses		812,958			(291,066	)		521,892
Special Charge		—			—			—
Impairment Charge		—			—			—
Operating Profit		256,935			(34,512	)		222,423
Other Expense (Income):
Interest expense, net		30,140			(289	)		29,851
Gain on sale of businesses		—			—			—
Miscellaneous expense (income), net		(1,092	)		(522	)		(1,614	)
Total Other Expense		29,048			(811	)		28,237
Income before Provision for Income Taxes		227,887			(33,701	)		194,186
Provision for Income Taxes		79,833			(14,334	)		65,499
Net Income	$	148,054		$	(19,367	)	$	128,687
Earnings Per Share:
Basic Earnings per Share	$	3.48					$	3.02
Basic Weighted Average Number of Shares Outstanding		42,585						42,585
Diluted Earnings per Share	$	3.37					$	2.93
Diluted Weighted Average Number of Shares Outstanding		43,897						43,897

ACUITY BRANDS, INC.

UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS

YEAR ENDED AUGUST 31, 2006

(In thousands, except per-share data)

	Historical		Discontinued Operations Adjustments (A)			Continuing Operations
Net Sales	$	2,393,123	$	(552,084	)	$	1,841,039
Cost of Products Sold		1,423,096		(234,894	)		1,188,202
Gross Profit		970,027		(317,190	)		652,837
Selling, Distribution, and Administrative Expenses		772,326		(271,900	)		500,426
Special Charge		—		—			—
Impairment Charge		292		—			292
Operating Profit		197,409		(45,290	)		152,119
Other Expense (Income):
Interest expense, net		33,231		(214	)		33,017
Gain on sale of businesses		—		—			—
Miscellaneous expense (income), net		425		(146	)		279
Total Other Expense		33,656		(360	)		33,296
Income before Provision for Income Taxes		163,753		(44,930	)		118,823
Provision for Income Taxes		57,191		(18,039	)		39,152
Net Income	$	106,562	$	(26,891	)	$	79,671
Earnings Per Share:
Basic Earnings per Share	$	2.43				$	1.82
Basic Weighted Average Number of Shares Outstanding		43,884					43,884
Diluted Earnings per Share	$	2.34				$	1.75
Diluted Weighted Average Number of Shares Outstanding		45,579					45,579

ACUITY BRANDS, INC.

UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS

YEAR ENDED AUGUST 31, 2005

(In thousands, except per-share data)

	Historical			Discontinued Operations Adjustments (A)			Continuing Operations
Net Sales	$	2,172,854		$	(534,952	)	$	1,637,902
Cost of Products Sold		1,324,311			(223,113	)		1,101,198
Gross Profit		848,543			(311,839	)		536,704
Selling, Distribution, and Administrative Expenses		718,134			(268,991	)		449,143
Special Charge		23,000			(3,595	)		19,405
Impairment Charge		664			—			664
Operating Profit		106,745			(39,253	)		67,492
Other Expense (Income):
Interest expense, net		35,731			(39	)		35,692
Gain on sale of businesses		(538	)		538			—
Miscellaneous expense (income), net		(3,280	)		2,405			(875	)
Total Other Expense		31,913			2,904			34,817
Income before Provision for Income Taxes		74,832			(42,157	)		32,675
Provision for Income Taxes		22,603			(14,604	)		7,999
Net Income	$	52,229		$	(27,553	)	$	24,676
Earnings Per Share:
Basic Earnings per Share	$	1.21					$	0.57
Basic Weighted Average Number of Shares Outstanding		43,135						43,135
Diluted Earnings per Share	$	1.17					$	0.55
Diluted Weighted Average Number of Shares Outstanding		44,752						44,752

ACUITY BRANDS, INC.

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET

AS OF AUGUST 31, 2007

	Historical		Discontinued Operations Adjustments (A)			Pro Forma Adjustments				Pro Forma
ASSETS
Current assets:
Cash and cash equivalents	$	222,816	$	(9,142	)	$	67,100		(B), (C)	$	280,774
Accounts receivable, less reserve for doubtful accounts of $4,864 (historical) and $1,361 (pro forma)		388,646		(93,102	)		—				295,544
Inventories		192,070		(45,534	)		—				146,536
Deferred income taxes		21,772		(6,576	)		(423	)	(D)		14,773
Prepayments and other current assets		42,681		(3,828	)		—				38,853
Total current assets		867,985		(158,182	)		66,677				776,480
Property, plant, and equipment, net of accumulated depreciation $363,405 (historical) and $282,632 (pro forma)		213,738		(51,727	)		—				162,011
Investment in Subsidiary		—		130,889			(130,889	)	(E)		—
Other assets:
Goodwill		384,809		(31,864	)		—				352,945
Intangible assets		118,892		(118	)		—				118,774
Deferred income taxes		2,165		(6,216	)		5,782		(D)		1,731
Defined benefit plan intangible assets		2,587		—			—				2,587
Other long-term assets		22,332		(58	)		—				22,274
Total other assets		530,785		(38,256	)		5,782				498,311
Total assets	$	1,612,508	$	(117,276	)	$	(58,430	)		$	1,436,802
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt	$	296	$	(296	)	$	—			$	—
Accounts payable		247,176		(36,774	)		—				210,402
Accrued compensation		79,835		(15,688	)		—				64,147
Accrued pension liabilities, current		1,268		—			—				1,268
Other accrued liabilities		141,821		(31,877	)		—				109,944
Total current liabilities		470,396		(84,635	)		—				385,761
Long-term debt, less current maturities		371,027		(7,150	)		—				363,877
Accrued pension liabilities, less current portion		22,043		—			—				22,043
Deferred income taxes		12,491		(413	)		5,359		(D)		17,437
Self-insurance reserves, less current portion		16,404		(7,747	)		—				8,657
Other long-term liabilities		48,181		(4,014	)		—				44,167
Stockholders’ equity		671,966		(13,317	)		(63,789	)	(B), (C) (E)		594,860
Total liabilities and stockholders’ equity	$	1,612,508	$	(117,276	)	$	(58,430	)		$	1,436,802

ACUITY BRANDS, INC.

NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Based on the spin-off transaction, the Company identified no material adjustments to the Consolidated Statements of Operations. Pro forma adjustments to the Condensed Consolidated Balance Sheet are as follows:

(A) This adjustment reflects the elimination of the financial results, assets, liabilities, and accumulated other comprehensive income amounts associated with the specialty products business and the distribution of Zep Inc. shares to Acuity Brands shareholders.

(B) This adjustment reflects the dividend paid from Zep Inc. to Acuity Brands in accordance with the Distribution Agreement, assuming a dividend of $67.5 million and a distribution of Zep cash balances in excess of $5 million at the Distribution Date. This does not include adjustments, required by the Distribution Agreement, based on actual cash on hand as of the Distribution Date or net cash flow of the specialty products business, Acuity Brands intends to use proceeds from this dividend to finance currently authorized share repurchases, and the receipt of the dividend is therefore not expected to impact the indebtedness of Acuity Brands. As the price at which the share repurchase would occur is not readily available, Acuity Brands has not adjusted the weighted average shares for the expected share repurchase, but rather reflected the dividend as cash.

(C) This adjustment to pro forma cash and equity reflects estimated non-recurring separation costs of $4.5 million which are expected to be incurred during fiscal year 2008 and will be recorded in discontinued operations. Non-recurring separation costs of $2.1 million were recognized by the Company during fiscal year 2007 and are eliminated in the Selling, Distribution, and Administrative Expenses line item in the discontinued operations presentation. Non-recurring separation costs primarily include external financial advisory, legal and accounting fees to effect the spin-off.

(D) This adjustment reflects the reclassification of current and non-current deferred income tax balances based on the continuing operations of Acuity Brands, in accordance with Statement of Financial Accounting Standards No. 109: “Accounting for Income Taxes.” This adjustment has no impact on the net deferred tax balance on a continuing operations basis.

(E) This adjustment reflects the elimination of Acuity Brands investment in subsidiary and the forgiveness of remaining intercompany balances.