Oatly Results Presentation Deck

RECONCILIATION OF IFRS FINANCIAL MEASURES Loss for the period attributable to shareholders of the parent Income tax expense Finance income and expenses, net Depreciation and amortization expense EBITDA Share-based compensation expense Product recall expenses(¹) Asset impairment charge(2) IPO preparation and transaction costs Adjusted EBITDA Adjusted EBITDA margin Three months ended December 31, 2021 2020 (79,753) (5,434) (7,480) 10,836 (81,831) 9,598 1,654 4,970 THE ORIGINAL (65,609) (35.3%) (1) Relates to recall of products in Sweden as previously communicated on November 17, 2021. See the Company's Form 6-K filed on November 17, 2021. (2) Relate an asset impairment charge of certain production equipment at our Landskrona production facility in Sw eden for which we have no alternative use. ●ATLY! (in thousands $) (36,991) 1,085 6,213 3,898 (25,795) Twelve months ended December 31, 2021 2020 668 (25,127) (19.8%) (212,393) (2,655) 1,305 27,222 (186,521) 23,632 1,654 4,970 9,288 (146,977) (22.9%) (60,361) 2,411 10,857 13,118 (33,975) 1,014 679 (32,282) (7.7%) Q4'21 EARNINGS PRESENTATION 30

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