Oatly Results Presentation Deck

Sales volume(1) BROAD-BASED SALES VOLUME GROWTH ACROSS REGIONS Constant currency revenue growth (5) Reported revenue growth Constant currency revenue growth (5) ● 63 $87 3Q 2021 EMEA +7% +11% (5%) 67 $97 $83 2022 • Growth in foodservice and retail channels, primarily from oat drinks • Growth impacted by foreign exchange headwind of $14.5 million Expansion into new markets and re- entering markets shorted due to capacity constraints last year, as well as increasing shelf space in existing retailers. 30 AMERICAS +17% $50 3Q 2021 $16.6 million. $14.5 million. $2.1 million. +23% 36 $61 • Revenue growth enabled by increased production REVENUE 30 022 Growth in both foodservice and retail channels Growth continues to be impacted by capacity constraints and production challenges 17 $34 Notes: USD in millions. 1. Million litres of finished goods. 2. The headwind to revenue from foreign exchange impact was 3. The headwind to revenue from foreign exchange impact was 4. The headwind to revenue from foreign exchange impact was 5. Constant currency revenue is a non-IFRS measure. Please see appendix for a reconciliation to revenue, the nearest IFRS measure. The constant currency measure is calculated by translating the current year reported revenue amounts into comparable amounts using the prior year reporting period's average foreign currency exchange rates, which have been provided by a third-party foreign exchange service provider (EUR:USD = 0.848; GBP:USD = 0.726; SEK:USD = 8.649; RMB:USD = 6.468). See appendix for reconciliation of foreign exchange rates. 2021 ASIA +38% +23% +16% 23 $42 (4) $40 2022 • Revenue growth impacted by the implementation of various degrees. of lock-downs due to COVID-19 variants in China Continued market leadership on T- mall, in spite of increasing competition Localized production supporting launch of new products and formats 110 $171 TOTAL 3Q 2021 +15% +17% +7% 126 $200 (2) $183 3Q 2022 Total revenue growth continued to reflect strong consumer demand, partially offset by macro environment and operational challenges Q3'22 EARNINGS PRESENTATION 26

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