As Beauden Barrett walked up to attempt the kick at goal, Poite sought a second opinion from TV match official Ayoub, who told the French whistle blower that Owens was accidentally offside and the penalty was too harsh.
Read was left mystified by the decision, arguing strenuously with Poite.
The All Blacks regrouped to attempt to attack again in the dying moments, but a staunch Lions defence held out for the disappointing draw.
It was the first time the All Blacks have failed to win at Eden Park since 1995.
Read summed up the thoughts of his team-mates and fans post-match when he struggled to describe what had played out over the 80-minute nail-biting clash.
"It is a tough one," he said of the result. "There were chances out there for us. But that is the way rugby goes."
Read and his Lions counterpart Sam Warburton then had to share the stage and jointly hold the trophy aloft.
It was a bittersweet night for the popular All Black captain, who became just the seventh All Black to reach the 100-test milestone, joining a select group that also features Richie McCaw, Mils Muliaina, Keven Mealamu, Tony Woodcock, Dan Carter and Ma'a Nonu.
"I would like to thank everyone who turned out," he said. "I was as excited and nervous as I was for the first test."
His family - wife Bridget, daughters Elle and Eden, and baby son Reuben - were there to see him.
All Black coach Steve Hansen said the draw was a disappointing end to what had been a pulsating series.
His Lions counterpart Warren Gatland was more upbeat, saying he was "pretty proud of the players", after many pundits predicted a series whitewash to the All Blacks.
"We were written off from day one," he said. "The boys dug deep and I think the result was a fair reflection of the sides."
Gatland displayed his sense of humour when he turned up at the post-match press conference sporting a red nose - a swipe at the Herald for its portrayal of him during the series.
Ahead of last night's clash, members of the All Blacks coaching and playing staff talked of how the build-up equalled the lead-up to a Rugby World Cup final.
And the intensity on the field lived up to that.
Even before the controversial input of Poite and Ayoub, the series had already gone down as one of the most dramatic - and at-times controversial - played in New Zealand for many seasons.
Verbal barbs have been fired from both camps, including over perceived foul play.
And tempers frayed between some players after last weekend's niggly second test in Wellington, a match the All Blacks played with just 14 men for the majority after Sonny Bill Williams was red carded for a dangerous no-arms high shot.
The Lions - and their 22,000 visiting fans - will now depart our shores with a tour record of played 10, won five, lost three and drew two.
But wouldn't it be good if there was just one more game?