Let's analyze each option:
1. Peroxisomes participate in photorespiration: This statement is correct. Peroxisomes are involved in photorespiration, a process in which oxygen is used and carbon dioxide is released in plants.
2. Lysosomes perform glycolate cycle: This statement is incorrect. The glycolate cycle, also known as the C2 cycle, takes place in peroxisomes, not lysosomes. Lysosomes are involved in digestion and breaking down cellular waste, not the glycolate cycle.
3. Endomembrane system includes endoplasmic reticulum, golgi, vacuoles, and lysosomes: This statement is correct. The endomembrane system in cells is responsible for a variety of functions, including protein and lipid synthesis, and includes the endoplasmic reticulum, Golgi apparatus, vacuoles, and lysosomes.
4. Aleuroplasts store proteins: This statement is correct. Aleuroplasts, a type of plastid, are involved in storing proteins in plant cells.
Thus, the wrong statement is option 2, as lysosomes do not perform the glycolate cycle.
Therefore, the correct answer is option 2.