Oatly Results Presentation Deck

% Margin¹ (45.2%) ($11) ($17) ($28) PROFIT, CASH FLOW, AND LIQUIDITY EMEA ($26) ($83) 30 2022 ADJ. EBITDA (1) (31.0%) Americas Asia Corporate $2 (55) ($21) ($37) ($60) (25.5%) 40 2022 $7 ($10) ($17) ($29) ($50) 10 2023 CASH AND LIQUIDITY CLOSED ON $430 MILLION FINANCING IN APRIL HILLHOUSE TO INVEST $35 MILLION VIA CONVERTIBLE NOTES, PENDING SHAREHOLDER APPROVAL AND LENDER CONSENTS HILLHOUSE WILL ALSO BUY $15 MILLION OF EXISTING CONVERTIBLE NOTES FROM VERLINVEST GIVEN THEIR STRONG REPUTATION, TRACK RECORD, AND GLOBAL PRESENCE WITH PARTICULAR STRENGTH IN ASIA, WE LOOK FORWARD TO STRENGTHENING OUR RELATIONSHIP WITH HILLHOUSE Notes: USD in millions 1. Adjusted EBITDA and adjusted EBITDA margin are non-IFRS measures. See the Appendix to this presentation for a reconciliation to the nearest IFRS measure. 27

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