Oatly Results Presentation Deck

EMEA IS MAKING GOOD PROGRESS EXPANDING THE PORTFOLIO BEYOND COFFEE OCCASSIONS MOVING TO HIGHER-MARGIN PORTFOLIO THAT BETTER REPLICATES DAIRY FROM: LIMITED PORTFOLIO THE ORIGINAL OAT LY! OAT DRINK No milk. No soy- No eh. whatever. Totally vegane POWER PLANTS UIT THE GAR by to ma That w Pro A TO: EXPANDED "GO BLUE" PORTFOLIO THE ORIGINAL OAT LY! SEMI OAT DRINK Stalle vege THE ORIGINAL OAT LY! LIGHT CAT DRINK Tebally vegare IL THE ORIGINAL OAT LY! WHOLE OAT DRINK T-bally are THE ORIGINAL OAT LY! 11 "NO" SUGARS OAT DRINK Totally WHILE STILL EARLY, UK IS FURTHEST ALONG IN "GO BLUE" MIX SHIFT TOTAL NET GO BLUE VOLUME¹ % YOY GROWTH IN 20 +13% % OF TOTAL UK VOLUME +60bps 14.4% 2Q22 15.0% (1) Includes Original/Enriched, Full Fat/Deluxe, Low Fat/Skinny, Semi Fat, and No Sugar SKUs (2) Source: Kantar, 12 w/e 11/06/23 vs. prior period 2Q23 53% OF GO BLUE VOLUME HAS BEEN INCREMENTAL TO THE CATEGORY AND 71% HAS BEEN INCREMENTAL TO OATLY² 14

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