Oatly Results Presentation Deck

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES Three Months Ended December 31, 2022 (in thousands of U.S. dollars) Revenue Revenue from external customers Intersegment revenue Total segment revenue Adjusted EBITDA Share-based compensation expense Restructuring costs(¹) Asset impairment charge and other costs related to assets held for sale (2) EBITDA Finance income and (expenses), net Depreciation and amortization Loss before tax Three Months Ended September 30, 2022 (in thousands of U.S. dollars) Revenue Revenue from external customers Intersegment revenue Total segment revenue Adjusted EBITDA Share-based compensation expense Restructuring costs(¹) EBITDA Finance income and (expenses), net Depreciation and amortization Loss before income tax ** (1) (2) EMEA 89,974 4,165 94,139 1,735 (1,121) (918) EMEA (304) 82,567 6,236 88,803 (11,491) (175) (11,666) M Americas 64,386 64,386 (4,661) (763) (797) (39,581) (45,802) Americas 60,702 7 60,709 (16,577) (1,312) - (17,889) - Asia 40,708 2,187 42,895 (21,004) (1,327) (309) (22,640) Asia 39,757 935 40,692 (28,447) (1,855) (30,302) Corporate consists of general overhead costs not allocated to the segments. Eliminations in 2022 refer to intersegment revenue for sales of products from EMEA to Americas and Asia, from Americas to Asia and from Asia to EMEA. Relates to accrued severance payments as the Company reviews its organizational structure to adjust the fixed cost base globally. The 2022 asset impairment charge relates to the YYF transaction. Corporate* (36,534) (4,530) (1,386) (42,450) Corporate* (26,188) (5,161) (1,005) (32,354) Eliminations** (6,352) (6,352) Eliminations** (7,178) (7,178) IIII Total 195,068 195,068 (60,464) (7,741) (3,410) (39,581) (111,196) 3,098 (13,835) (121,933) Total 183,026 183,026 (82,703) (8,503) (1,005) (92,211) (7,491) (12,157) (111,859) Q4'22 EARNINGS PRESENTATION 35

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