Oatly Results Presentation Deck

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES Revenue, Adjusted EBITDA and EBITDA Three months ended June 30, 2023 (in thousands of U.S. dollars) Revenue Revenue from external customers Intersegment revenue Total segment revenue Adjusted EBITDA Share-based compensation expense Restructuring costs(1) Costs related to the YYF transaction(?) EBITDA Finance income and (expenses), net Depreciation and amortization Loss before tax Three months ended June 30, 2022 (in thousands of U.S. dollars) Revenue Revenue from external customers Intersegment revenue Total segment revenue Adjusted EBITDA Share-based compensation expense EBITDA Finance income and (expenses), net Depreciation and amortization Loss before tax EMEA 96,989 359 97,348 7,270 261 7,531 EMEA 82,485 9,493 91,978 5,313 (1,433) 3,880 Americas 61,832 61,832 (9,414) (607) (2,407) (154) (12,582) Americas 51,775 241 52,016 (19,584) (1,120) (20,704) Asia 37,166 1,696 38,862 (21,900) (1,291) (136) — (23,327) Asia 43,698 537 44,235 (10,765) (1,842) (12,607) Corporate* Eliminations** (28,424) (785) (5,429) (34,638) Corporate* (28,331) (4,790) (33,121) * Corporate consists of general overhead costs not allocated to the segments. ** Eliminations in 2023 refer to intersegment revenue for sales of products from EMEA to Asia and from Asia to EMEA. Eliminations in 2022 refer to intersegment revenue for sales of products from EMEA to Asia, from Americas to Asia, and from Asia to EMEA. (1) Relates primarily to severance payments as the Company continues to adjust its organizational structure to the current macro environment. (2) Relates to the closing of the Ya Ya Foods USA LLC transaction. (2,055) (2,055) Eliminations** (10,271) (10,271) Total 195,987 195,987 (52,468) (2,422) (7,972) (154) (63,016) (11,512) (12,464) (86,992) Total 177,958 177,958 (53,367) (9,185) (62,552) (593) (11,877) (75,022) 37

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