Oatly Results Presentation Deck

KEY DRIVERS OF PROFITABILITY IN THE MEDIUM-TERM INCREASING IN-HOUSE PRODUCTION THROUGH HYBRID AND END-TO-END MODELS LOCALIZATION OF PRODUCTION ALLOWING US TO IMPROVE ECONOMICS AND IMPROVE SERVICE LEVELS OPERATING LEVERAGE FROM RAPID INCREASE IN SALES COUPLED WITH A LOWER INCREASE IN SG&A SIGNIFICANT MARGIN IMPROVEMENT ACROSS REGIONS LEVERAGING INITIAL CAPITAL INVESTMENTS THE ORIGINAL OAT LY! DAT- MILI LY! THE ORIGINAL E dairy. No nuts. No gluten. 100% Vegari 64 fl oz (1/2 GAL) (1.89L) OTALLY OATSOME! SHAKE ME! PE 2018 QAT- MILK LOW FAT No di No r No gl THE ORIGINAL 64 (1/2 G. (1.89 L) LY! DAT- MILK EDITION 32 fl oz (1 qt) (946 mL) 2 T No dairy- So nute. No gluten. Vegan Q2'21 EARNINGS PRESENTATION 18

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