Oatly IPO Presentation Deck

WE HAVE PRIORITIZED GROWTH OVER SHORT-TERM PROFITABILITY TO MEET DEMAND REVENUE ($MM) +86% i 2018-LTM Q1 2021 CAGR $118 2018 $204 2019 $421 2020 PA18-LTM Q1'21 $477 CAGR: Asia +368% Americas +167% EMEA +58% LTM 01 2021 Note: 1. Revenue and gross profit for the year ended December 31, 2018 are management's estimates that were derived from our audited Swedish consolidated annual report in accordance with generally accepted accounting principles in Sweden. The amounts presented were converted to U.S. dollars and adjusted for comparability with IFRS, and these adjustments have not been audited or reviewed. The estimates may differ from the amounts that would have been presented if our results of operations for the year ended December 31, 2018 had been prepared in accordance with IFRS. Revenue and gross profit for the years ended December 31, 2019 and 2020 and Q1 2021 were prepared in accordance with IFRS and have been audited. THE ORIGINAL GROSS PROFIT ($MM) I I I I OATLY! +62% I 2018 - LTM Q1 2021! CAGR $49 2018 41% $67 2019 $129 2020 % Margin $144 LTM 01 2021 30% 21

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