Oatly Results Presentation Deck

KEY DRIVERS OF PROFITABILITY IN THE MEDIUM-TERM Increasing in-house production Localization of production Operating leverage from increased sales Scalable infrastructure tal D LONG-TERM TARGETS Gross profit margin GREATER THAN 40% Adjusted EBITDA Margin(¹) APPROACHING 20% Notes: 1. Adjusted EBITDA margin is a non-IFRS measure. The Company cannot provide a reconciliation of EBITDA guidance to the corresponding IFRS metric without unreasonable efforts, as we are unable to provide reconciling information. These items are not within Oatly's control and may vary greatly between periods and could significantly impact future financial results. Q2'22 EARNINGS PRESENTATION 28

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