FFRIGO
Investor & Management Overview • August 2026
01 / 10
Confidential • Strategic overview

From smart vending
to distributed retail.

FRIGO is repositioning its refrigerated vending infrastructure as a channel for food brands to reach customers beyond their own locations.

THE THESISRecurring infrastructure revenue.
Vendor-funded inventory.
Lower spoilage exposure.
Target rentAED 4–5kper machine / month
01 / Company

Infrastructure built.
Commercial model evolving.

NOV 2024Incorporated

Company formation and capital mobilization.

MAY 2025Sales begin

Eight months of first-year commercial activity.

2026 YTD31 active machines

Network scale exposes inventory economics.

NEXTPlatform model

Rent, services and revenue participation.

AED 2.52mContributor capital
AED 1.45mMachines & IoT at cost
52Capital contributors
03 / Core problem

FRIGO is carrying
too much of the risk stack.

01Machine capital
02Food procurement
03Demand forecasting
04Restocking logistics
05Expiry & spoilage
06Payments & support
2026 reported margin–AED 48,860Procurement + spoilage = 125% of revenue
04 / Strategic shift

Make FRIGO the
channel—not the pantry.

FOOD BRANDOwns products
and assortmentRestaurant • supermarket • meal brand
→
FRIGOInfrastructure
+ telemetryDeploy • connect • service • report
→
LOCATIONCustomers gain
24/7 accessOffice • university • transit • retail
“A distributed refrigerated retail network that lets food brands sell where they are not.”
05 / Commercial architecture

Three offers.
One scalable platform.

01

Infrastructure

AED 3–3.5k/ month

Machine, telemetry, payments and standard support. Vendor restocks.

+ 5–8% sales share
02 • CORE

Managed distribution

AED 4–5k/ month

FRIGO adds scheduled logistics and operational service.

+ 8–12% sales share
03

Full service

AED 5k+/ month minimum

Premium operations with tightly controlled inventory exposure.

+ 12–20% sales share

Indicative pilot pricing • Excludes VAT • Final terms depend on service level, deployment and contract duration.

06 / Revenue potential

Recurring rent can reset
the revenue base.

At 31 contracted machinesAED 1,116,000annual rental revenue
AED 3,000 / month
At 31 contracted machinesAED 1,488,000annual rental revenue
AED 4,000 / month
At 31 contracted machinesAED 1,860,000annual rental revenue
AED 5,000 / month
Reality checkAt 75% utilization, AED 4,000 rent produces ≈ AED 1.10m annually.

Fixed rent must cover committed service cost. Revenue share remains upside.

07 / Financial governance

Better reporting is
part of the investment case.

01

Management truth

FRIGO’s CFO package remains the primary business representation.

02

Accounting discipline

MAZEED schedules are reconciled and reclassified where needed.

03

Asset control

Serial-level register, ownership, deployment date and depreciation.

04

External assurance

Independent audit validates the finalized management accounts.

FY2025 basisCommercial activity began May 2025 • Depreciation recognized May–December • Management report captures the operating substance.
08 / 90-day pilot

Prove the model
before scaling it.

5–10machines
  1. Recruit3–5 food brands across restaurants, supermarkets and meal providers.
  2. TestThree service tiers with a 12-month contract and 90-day measurement window.
  3. MeasureContribution, uptime, labor, trips, spoilage ownership and vendor retention.
  4. ScaleStandardize only the package that clears the required machine contribution.
Target: ≥80% sell-throughTarget: <10% spoilageTarget: positive contribution
09 / Decision

Monetize the network.
Transfer inventory risk.

Approve a controlled vendor pilot with AED 4,000 as the working standard price and AED 5,000 for full service.

NOWReconcile contracts and machine ownership
NEXT 30 DAYSSign pilot vendors and instrument unit economics
DAY 90Scale, reprice or stop based on contribution