Oatly Results Presentation Deck

2022 GUIDANCE Notes: 1. REVENUE CAPITAL EXPENDITURES(1) RUN-RATE CAPACITY AT THE END OF THE YEAR¹ $880-$920 MILLION 37% -43% YOY GROWTH $400-$500 MILLION ~900 MILLION LITERS OF FINISHED GOODS 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 prospectus filed with the Securities & Exchange Commission on May 21, 2021. Nothing 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. THE ORIGINAL ●ATLY! Guidance reflects a mid-single-digit appreciation of the U.S. dollar versus its major European currencies on a percentage basis compared to the prior year Q4'21 EARNINGS PRESENTATION 26

View entire presentation