Oatly Results Presentation Deck

QUARTER-OVER-QUARTER 40 2022 GROSS MARGIN BRIDGE SEQUENTIAL IMPROVEMENT IN MARGINS DRIVEN BY IMPROVING PRODUCTION ABSORPTION, LOWER INFLATION AND FEWER ONE-OFFS THAN 3Q 2022 LINKED TO MACRO-ECONOMIC ENVIRONMENT 2.7% 30 2022 6.6% SUPPLY CHAIN IMPROVEMENTS IN AMERICAS AND EMEA 4.3% COVID-19 PRESSURE EASING IN ASIA 1.4% PRICING ACTIONS 0.6% DEFLATIONARY COSTS 0.3% OTHER, NET 15.9% 40 2022 Q2'22 EARNINGS PRESENTATION 21

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