Oatly Results Presentation Deck

STRONG BROAD-BASED REVENUE GROWTH ACROSS REGIONS AMERICAS GROWTH CONSTRAINED BY CAPACITY CONSTRAINTS: ASIA IMPACTED BY COVID RESTRICTIONS Production volume (¹) Sales volume(¹) 69 57 $82 EMEA Q1 2021 +21% +11% 86 (3) $90 Notes: USD in millions 1. Million litres of finished goods. Q1 2022 Steady, consistent production in EMEA • Growth in foodservice and retail channels, primarily from oat drinks • Growth impacted by foreign exchange headwind of ~$5.5 million Expansion into new markets and re-entering markets shorted due to capacity constraints last year, as well as increasing shelf space in existing retailers AMERICAS 21 21 $34 2. The headwind to revenue from foreign exchange impact was ~$5.1 million. 3. The headwind to revenue from foreign exchange impact was ~$5.5 million. 4. The tailwind to revenue from foreign exchange impact was ~$0.4 million. Q1 2021 +57% +40% 31 33 $47 Q1 2022 • All-time production high in Americas in March • Growth in new and existing foodservice and retail channels • Growth limited by capacity constraints REVENUE 14 ● $25 THE ORIGINAL ●ATLY! Q1 2021 ASIA +14% +15% 16 $29(4) • Revenue growth significantly impacted by the implementation of various degrees of lock-downs due to COVID-19 variants in China Q1 2022 • Market leader on T-mall, in spite of increasing competition and limited supply Localized production in Singapore and Maanshan slowed due to COVID lockdowns 90 92 ● $140 TOTAL Q1 2021 +28% +19% 121 118 $166 (2) Q1 2022 • Total revenue growth continued to reflect strong consumer demand Expect topline momentum to continue to benefit from new capacity scaling up in Americas and easing of COVID restrictions in China throughout 2022 Q1'22 EARNINGS PRESENTATION 18

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