Oatly Results Presentation Deck

PRODUCTION VOLUME AT ALL TIME HIGH AT THE END OF THE FOURTH QUARTER 4Q21 Commentary ● ● ● Increased our quarterly production output by 8% vs. prior quarter and 57% vs. prior year, ending at 142ML • EMEA: Stable production in line with expectations ● Fourth quarter below expectations due to COVID-19 and disruptions caused to the global supply chain Americas: Production impacted by a number of COVID-19 related factors - Ogden will continue to ramp up, with full utilization expected in 1H 2022 Asia: Singapore (hybrid) began production in Q3 and is ramping up production; Maanshan (self) commenced commissioning phase in Q4 (Million litres of finished goods) 90 1Q21 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 prospectus filed with the Securities & Exchange Commission on May 21, 2021. Nothing in this presentation and our other SEC filings should be regarded as a representation by any person that these goals / targets will be achieved and the Company undertakes no duty to update its goals. FINISHED GOODS PRODUCTION VOLUME 106 2Q21 THE ORIGINAL ●ATLY! 131 3Q21 142 4Q21 COVID-19 related labor and supply chain challenges in Jan./Feb. 120-125 1Q22E (¹) Q4'21 EARNINGS PRESENTATION 24

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