Q2'21 Earnings Presentation

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Thee months ended June 30, 2021 Six months ended June 30, 2020 2021 2020 (in thousands $) Loss for the period attributable to shareholders of the parent Income tax expense Finance income and expenses, net Depreciation and amortization expense EBITDA (59,064) (4,790) (91,447) (12,963) 264 420 2,212 772 10,696 23 12,616 2,673 4,642 3,113 8,646 5,964 (43,462) (1,234) (68,155) (3,554) Share-based compensation expense 4,466 4,466 1,014 IPO preparation and transaction costs 7,065 9,288 Adjusted EBITDA (31,931) (1,234) (54,401) (2,540) Adjusted EBITDA margin (21.8%) (1.3%) (19.0%) (1.4%) THE ORIGINAL OATLY! Q2'21 EARNINGS PRESENTATION 27

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