Oatly Group Investor Presentation — March 2024

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Forward -Looking Statements

This presentation contains forward -looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . Any express or implied statements contained in this presentation that are not statements of historical fact may be deemed t o be forward -looking statements,

including, without limitation, statements regarding our financial outlook for 2024, profitability improvement, long -term growth strategy, expected capital expenditures, anticipated supply chain performance, anticipated impact of our improvement plans, a nticipated impact of our decision to

discontinue construction of certain production facilities, including additional expected impairment charges and associated ad ditional cash expenditures, plans to achieve profitable growth and anticipated cost savings as well as statements that include t he words “expect,” “intend,” “plan,”

“believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “is/are likely to” and similar statements of a future or forward -looking nature. Forward -looking statements are neither promises nor guaran tees, but involve known and unknown

risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitat ion: our history of losses and inability to achieve or sustain profitability, including due to elevated inflation and increased costs for transportation, energy and materials;

reduced or limited availability of oats or other raw materials and ingredients that meet our quality standards; failure to ob tain additional financing to achieve our goals or failure to obtain necessary capital when needed on acceptable terms, or at all ; failure of the financial institutions in which we

hold our deposits; damage or disruption to our production facilities; harm to our brand and reputation as a result of real or perceived quality or food safety issues with our products; food safety and food -borne illness incidents or other safety concerns w hich may lead to lawsuits, product recalls

or regulatory enforcement actions; our ability to successfully compete in our highly competitive markets; reduction in the sa les of our oatmilk varieties; failure to effectively navigate our shift to an asset -light business model; failure to successfully achieve any or a ll of the benefits of the YYF

Transaction; failure to meet our existing or new environmental metrics and other risks related to sustainability and corporat e social responsibility; litigation, regulatory actions or other legal proceedings including environmental and securities class action lawsuits and settlements; changes to

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