Oatly Results Presentation Deck

SCALING EFFICIENT GLOBAL OATMILK PRODUCTION CAPABILITIES 2021 (Expansion in 2023/2024) Ogden, U.S. 2023E (1) Fort Worth, U.S. 2019 (Expansion in 2022) Millville, U.S. 2019 2023E (1) 2006 Peterborough, U.K. Vlissingen, NL Landskrona, SE (Expansion TBD) THE ORIGINAL 2021 OATLY! Maanshan, CN 2023E (¹1) Asia III 2021 Note: 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 regarde as a representation by any person that these / targets will be achieved and the Com any undertakes no duty to update its goals. 2. Finished goods. Singapore, SG Date of go-live = Established capacity = Capacity added in 2021 = Near-term capacity expansions Self-Manufacturing ● = = Hybrid (Year) Expected expansion = Total run-rate capacity at the end of the year(¹)(2) 2021A: 600+ million litres 2022E: 900 million litres 2023E: -1,300 million litres Q1'22 EARNINGS PRESENTATION 23

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