Oatly Results Presentation Deck

RECONCILIATION OF NON-GAAP 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 IPO preparation and transaction costs Adjusted EBITDA Adjusted EBITDA margin Three months ended September 30, 2021 (41.193) 567 (3,831) 7.922 (36,535) 9,568 (26,967) (15.8%) THE ORIGINAL ●ATLY! 2020 (in thousands $) (10,407) 554 1,971 3,256 (4,626) 11 Nine months ended September 30, (4,615) (4.0%) 2021 (132,640) 2,779 8,785 16,386 (104,690) 14,034 9,288 (81,368) (17.8%) 2020 (23,370) 1,326 4,644 9,220 (8,180) 1,014 11 (7,155) (2.4%) Q3'21 EARNINGS PRESENTATION 29

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