Oatly Results Presentation Deck

PRODUCTION VOLUMES EXPECTED TO STEP-UP IN THE THIRD QUARTER Q2 2022 Commentary • Increased our quarterly production output by 17% vs. prior year, ending at 124ML EMEA: Stable production output; adjusted to macro dynamics Americas: Record quarterly production; optimizing Ogden production in 2H22 Asia: Singapore expected to reach steady-state production in 2H22; Maanshan expected to continue to ramp up for the full year of 2022 Total run-rate capacity at the end of the year 2022E: ~900 million litres 2023E: 1,200 million litres 90 1Q21 Finished goods production volumes (in million litres) 106 2Q21 131 3Q21 142 121 || 4Q21 1Q22 Notes: 1. These are not projections; they 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 and our other SEC filings 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. 124 2Q22 135-145 3Q22E (1) Q2'22 EARNINGS PRESENTATION 22

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