Presentation to Investors 8 March 2023

AoFrioFY22 Full Year Results
Investor CallMarch 2023

AoFrioCompany Confidential ©2023
JanuaryFebruaryMarchApril
FY22 Summary
•15.7% growth despite supply chaindisruption
•Diverted NPD resource to support existingproducts.
•Spot marketpurchases and freight,
purchasedinventory
•Net Promoter Score = 40
•Staff Engagementresult from 68 to 75
•Invested in people to support long term growth
•First major sale of Network Pro
•First sale to an ice cream brand
•Rebranded from Wellington Drive to AoFrio
•ESG current state assessment and materiality review
Results at a glance
Revenue up 15.7% y-o-y to
$74.3 million
Employee Engagement Score
75%
Customer NPS
+40
beating benchmark of +25
EBITDA down 39% y-o-y to
$1.6 million
NPAT
$3.3 million
down $2.2 million
New roles to resource long term growth
19

AoFrioCompany Confidential ©2023
Bottle Cooler IoT Market
•Retrofit Market: (New products launched that expand market beyond new
refrigerators)
•Software solutions options
•Enter NA & EMEA market (with always on solution)
New IoT Markets
•Launch Ice cream market solution
•Second Iteration of food service solution (Focus on Food Safety & Energy
Management)
Motors & Fans
•Launch ECR2+ (delayed due to component swap focus)
•New Fan pack sizes
Financial Guidance for FY23
•Revenue trending towards $100m
•EBITDA around $3.5m
•Targeting ongoing revenue growth of 30% (Investing to achieve that-internally
funded)
•Investments are only being made as trading conditions allow.
Focus for FY 23

AoFrioCompany Confidential ©2022
How our solution works
Control and Monitor
AoFrioSCS Controller or Monitor mounted
in theequipment tracks equipment and
operational data including temperature,
door swings and compressor cycles.
Transmit Store and Transform
Actionable Insights
Bluetooth -for markets
with low labour costs and
high-touch process with
coolers / stores:
App running in background
of sales or distribution staff
member’s phone picks up
data, attaches GPS location
and transmits to cloud.
OR
Always on -for markets
with highlabour costs and
low-touch processwith
coolers / stores:
One to many solution: AoFrio
Network Pro receives data from
up to 15 devicesvia Bluetooth
and transmits to cloud.
One to one solution (coming
soon): Cellular connected SCS
controller transmits data to
cloud via a cellular connection.
Data is cleansed, processed, stored and
aggregated into key insights ready
for action.
Asset management: Assets
managers can see
equipment locations,
unwanted movements, and
historical connectivity from
users.
Commercial Insights:
providing cooler, customer
and storekeeper
performance and
behaviour, allowing Sales
staff to optimise sales
performance in their stores.
Service and Maintenance:
Technical service staff
receive alerts from market
allowing them to optimize
fleet operation and
maintenance

AoFrioCompany Confidential ©2023
Discover
Validate the opportunity
Understand the opportunity,
constraints and success
metrics, and build the
business case for investment.
Product Pipeline -Process
Ideate
Generate and test ideas
Iterate through cycles of
ideation, prototyping and
testing to design solutions that
are desirable, viable and
feasible.
Define
What? How? When?
Distil agreed solutions into a
set of prioritisedroadmap /
work items and add to
roadmap.
Deliver
Build, test and release product
increments or new products.
Launch
Execute go to market plan
including handover to field /
support, customer onboarding
etc.
Items On Roadmap
Risks Known, Effort & Timeframes Estimated
PrioritisedRoad
Map Items
(from Strategy, Staff,
P2E, Customers)

AoFrioCompany Confidential ©2023
Product ObjectivePriority FocusStrategic Objective
Increased customer value through
data and insights
Insights for bottle coolers
Recurring Revenuefrom advanced analytics,notifications & predictive
maintenance
Complete range of product
options for a connected fleet
Connected thermostat for small scale unitsMarket Expansion: ~30% of refigerators are <400 L
Cellular connected controllerMarket Expansion: ~70% US & EMEA market require this solution.
Comprehensive controller
capabilities
Variable speed compressor control
Market Leadership: This would allow AoFrio to reduce energy consumption
of commercial refrigerators by up to a further ~20%.
Best in class user experience
Web based applications: Reporting, User
Manager
Customer Delight: Increase satisfaction
Extend our motors range, offering
more options / flexibility to our
customers
ECR 2+ with Universal Plug
Customer Delight: Universal plug reduces SKU’s
Extended FanpackRange
Market Expansion: Larger supermarket applications
Product: Strategic Priorities
AoFrio Company Confidential ©2022

AoFrioCompany Confidential ©2022
Any
Questions?

Unlocking a world of
possibilities–Thank you!
Q1 Investor Call2023