Oatly Results Presentation Deck

SCALING EFFICIENT GLOBAL OATMILK PRODUCTION CAPABILITIES 2021 (2022/2023) Ogden, U.S. 2023E (1) Fort Worth, U.S. 2019 (2022) Millville, U.S. 2019 (2021) 2023E (1) 2006 Peterborough, U.K. Vlissingen, NL (2022/2023) Landskrona, SE 2021E ●ATLY! Maanshan, CN 2023E (¹1) Asia III 2021E(¹) Singapore, SG 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 v 21, 2021. Nothing in this presentation 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. 2. Finished goods. THE ORIGINAL Date of go-live = Established capacity = Capacity added in 2021 = Near-term capacity expansions ● = Self-Manufacturing = Hybrid (Year) = Expected expansion Total expected capacity at the end of the year(¹)(2) 2021: 600 million litres 2022: 1,075 million litres 2023: 1,475 million litres Q3'21 EARNINGS PRESENTATION 21

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