F&L Feb21 recap

The Foundry & Lux team is excited to reopen our patio doors and welcome tenants back to enjoy the weather, service and ambiance.

Guests have eagerly returned to savor the libations and delicious snacks that come with our outdoor happy hour experience. In our efforts to increase revenue, we have begun our plans for reopening indoor dining.

2021 FEBRUARY RECAP

THE PATIO IS OPEN!

We have opened the patio for lunch and happy hour from 11:30 to 4pm. We have a dedicated server and bartender to give full service to anyone who dines on the patio to receive the F&L experience that everyone misses.

We have introduced a fun menu that has a combination of salty treats and hot food: • The Everything Snap Peas • Our Famous F&L Chex Mix • Chips and Salsa • Mary’s Buffalo Wings • Baked Mac and Cheese We will be extending our patio hours and expanding our menu to satisfy increasing demand!

GROWING THE F&L BRAND Introducing new and crave-able American comfort food classics. We are thrilled that the sales for these items are our most popular sellers.

In addition to our new menu, we have included a sneak peak to Chandlery.

Increasing everyone’s anticipation for our new location.

GUESTS ARE SHARING THE LOVE

DOORDASH RESULTS

NEW ONLINE ORDER PLATFORM The online ordering platform, from both mobile & desktop view, allows for guests to experience F&L from wherever they are.

The website gives the guest an experience similar to Foundry & Lux's dining room from the comfort of their electronic devices.

Guests are quickly gravitating to the new platform, contributing 53% of total onsite sales in February!

NEW ONLINE ORDERING PLATFORM Aligns with the F&L brand and continues to improve efficiencies throughout the operation. In addition to improving the guest’s online ordering experience, it also creates efficiencies the overall operation • • • • •

Reduces hourly labor Improves order accuracy Expediates pickup orders for guests Text alerts inform customers know when orders are ready for pick up Ensures strict security standards are maintained when processing customer credit card information

CATERING Drop off catering has picked up again with restrictions in the county getting lifted!

AstraZeneca requested all day catering including a late morning snack box of Bobo's oat bars, Yerba Mate, as well as the favorite F&L bacon breakfast burrito. The team enjoyed the Korean menu from the F&L GO rotating menu!

ZOOX daily lunch has increased to 110 orders between the 2 locations and will continue to increase to 130+ in March.

While there were no events onsite in February, Frontier Medicine will be hosting the first event on the patio in 2021 in the first week of March!

F&L will also be providing AstraZeneca with a St. Patrick's themed lunch mid-March!

INSTAGRAM Foundry & Lux gained 28 new followers during the month of February bringing in the total to 1,234!

F&L averaged 46 likes per post with the post popular being the Mary's Organic Fried Chicken plate and the Miso Salmon bowl.

Sales: Total sales for the period equaled $55.6k with a weekly average of $13.9k. The first two weeks of February were very quiet as tenants were exploring the newly added and much anticipated Truffle Poke but ramped up various days. Patio sales alone were $4k this month.

FINANCIAL RECAP

Labor: Labor in February was mainly limited to managers in the front of house, and minimal staffing needed to execute service in the back of house.

Other Expenses: Other expenses and outside services have continued to be cut and suspended wherever possible.

Total Losses: Overall losses were ~52K for the 4-week period, as both café and catering revenue steadily came back as San Mateo restrictions eased.

RE-OPENING STRATEGY In March we plan to begin our phases for reopening indoor dining. Our main goals for reopening will be focused on our guests’ experience. A place to relax and give them the ability to enjoy our beautiful space while giving as much value as possible to our revenue.

Next Steps: • Offering private space rental for catering and events.

• Re-opening the bar and lounge and extending hours of operation with minimal labor.

Based on historic sales, lounge and catering carried the most revenue for the operation.

LOOKING FORWARD TO…

• extending patio hours as participation continues to grow • hosting private events in F&L • Frontier’s patio catering event • St. Patrick’s Day Happy Hour with St. Patrick’s day themed appetizers and cocktails!

• AstraZeneca’s St. Patrick’s Day Catering • seasonal & rotating cocktails to the happy hour and lunch menu • plans to reopen for indoor dining