Oatly Results Presentation Deck

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES Revenue, Adjusted EBITDA and EBITDA Three months ended March 31, 2023 (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) Cost related to the YYF transaction (2) EBITDA Finance income and (expenses), net Depreciation and amortization Loss before income tax Three months ended March 31, 2022 (in thousands of U.S. dollars) Revenue Revenue from external customers Intersegment revenue Total segment revenue Adjusted EBITDA Share-based compensation expense EBITDA Finance income and (expenses), net Depreciation and amortization Loss before income tax * (1) EMEA 98,216 851 99,067 6,584 (1,022) (1,008) 4,554 EMEA 90,483 15,046 105,529 (5,856) (1,584) (7,440) Americas 64,041 64,041 (10,306) (1,044) (187) (221) (11,758) Americas 47,017 572 47,589 (22,013) (1,292) (23,305) Asia 33,388 1.440 34,828 (16,716) (1,411) (18,127) Asia 28,686 28,686 (14,967) (1,949) (16,916) Corporate* (29,435) (4,570) (34,005) Corporate* (28,553) (5,212) (33,765) Eliminations** (2,291) (2,291) Eliminations** (15,618) (15,618) Total 195,645 195,645 (49,873) (8,047) (1,195) (221) (59,336) (1,996) (12,233) (73,565) Total 166,186 166,186 (71,389) (10,037) (81,426) 3,577 (10,731) (88,580) Corporate consists of general overhead costs not allocated to the segments. Eliminations in 2023 refer to intersegment revenue for sales of products from EMEA to Asia and from Asia to EMEA. Eliminations in 2022 refer to intersegment revenue for sales of products from EMEA to Asia and from Americas to Asia Relates to severance payments as the Company reviews its organizational structure. Relates to the close of the Ya YA Foods USA LLC transaction. 34

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