Oatly Results Presentation Deck

2022 REVENUE GUIDANCE(¹)(2) REVISED EXPECTATIONS DRIVEN PRIMARILY BY +37% 43% YOY $880 - $920 CURRENT MACRO ENVIRONMENT 2. PREVIOUS 2022E REVENUE ($45) - ($55) +30% - 34% YOY $835-$865 UPDATED 2022E REVENUE (CONSTANT CURRENCY) (2) TRANSLATION IMPACT DUE TO FX MOVEMENTS DURING 2022 ($35) Notes: 1. These are goals / targets and are forward-looking, subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the control of the Company and its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be material. For discussion of some of the important factors that could cause these variations, please consult the "Risk Factors" section of the Annual Report on Form 20-F filed with the Securities & Exchange Commission on April 6, 2022. Nothing in this presentation should be regarded as a representation by any person that these goals / targets will be achieved and the Company undertakes no duty to update its goals. Constant currency using previous exchange rate assumptions and current FX" using June 30, 2022 spot rates. Please see appendix for assumed foreign exchange rates. +24% B 29% YOY $800-$830 UPDATED 2022E REVENUE (CURRENT FX) (2) Q2'22 EARNINGS PRESENTATION 27

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