Q2'21 Earnings Presentation

~$600BN TAM WITH ACCELERATING ADOPTION A MASSIVE ACCELERATION IS UNDERWAY FOR DAIRY ALTERNATIVES Q: When did you first purchase plant-based milk? Additional opportunity in foodservice $592BN (1) Global dairy retail sales Plant-based penetration of dairy retail sales globally is only ~3%, but rapidly growing (1) $18BN (1) Last 2 Years 3+ years 61% 63% 71% 71% 69% 39% 37% 31% 29% 29% 米 c.60-70% of plant-based milk consumers joined the category in the last 2 years Source: Plant-based market survey commissioned by Oatly, January 2021. Note: 1. As of December 31, 2020. THE ORIGINAL ●ATLY! Q2'21 EARNINGS PRESENTATION 9

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