Follows new category development with production facility to meet demand

Oatly Ma’anshan Factory

Oatly’s Ma’anshan production facility has the potential to produce an estimated 150 million liters of oat-based products annually at full capacity

MALMÖ, Sweden, Nov. 18, 2021 (GLOBE NEWSWIRE) — Oatly Group AB (Nasdaq: OTLY) (“Oatly” or the “Company”), the world’s original and largest oat drink company, today announced the opening of its first production facility in Ma’anshan, China, just a few months after opening its first Asian factory in Singapore in July. The new production facility is part of a wider initiative by Oatly to build factories fit for the future, with efficient use of resources and minimal negative impact on the planet. The facility is one of six facilities around the world, as Oatly expands to further its mission of growing the plant-based movement and shifting the food system toward one that’s built for planetary and human health. Oatly has previously established a new Chinese character for “plant-based milk”, creating a new category for the grocery aisle, increasing demand, and converting more milk drinkers to oat drink.

Toni Petersson, Oatly’s CEO, commented, “Oatly has grown to be the leader of the plant-based milk category in China and around the world, enabling people to switch from cow’s dairy to oat drink. To meet the demand and to be a leader in the shift to a more plant-based future, Oatly expects to continue to grow and expand our production capacity with factories closer to our consumers. The Chinese market is an important part of Oatly’s global expansion, and the Chinese people play a big part in shifting towards a more sustainable and mainstream plant-based consumption. We are confident in the continued growth of the Chinese market and that the new Chinese factory will accelerate our mission to drive a societal shift towards a plant-based food system for the benefit of people and the planet.”

Oatly Ma’anshan Factory

Oatly Ma’anshan Factory

“Following the debut of our first factory in Asia in Singapore this July, the opening of the first factory in China provides more capacity for Oatly in Asia, supporting the global expansion and meeting the increasing market demand. With the opening of this new factory, we are extending the world-class oat drink production process from Sweden to China, making plant-based diets accessible to more people to address the climate challenges that mankind face. It sets a good example for the entire food industry in terms of innovation and sustainable development,” said David Zhang, Asia President of Oatly.

Oatly’s Ma’anshan production facility is in the Anhui Province in China and has the potential to produce an estimated 150 million liters of oat-based products annually at full capacity.

About Oatly
We are the world’s original and largest oat drink company. For over 25 years, we have exclusively focused on developing expertise around oats: a global power crop with inherent properties suited for sustainability and human health. Our commitment to oats has resulted in core technical advancements that enabled us to unlock the breadth of the dairy portfolio, including alternatives to milks, ice cream, yogurt, cooking creams, and spreads. Headquartered in Malmö, Sweden, the Oatly brand is available in more than 20 countries globally.

For more information, please visit www.oatly.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the growth of the Chinese market, expansion of our production facilities and our ability to meet demand, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation our history of losses and inability to achieve or sustain profitability; reduced or limited availability of oats or other raw materials that meet our quality standards; failure to obtain additional financing to achieve our goals or failure to obtain necessary capital when needed on acceptable terms; damage or disruption to our production facilities; harm to our brand and reputation as the result of real or perceived quality or food safety issues with our products; our ability to successfully compete in our highly competitive markets; reduction in the sales of our oatmilk varieties; failure to expand our manufacturing and production capacity as we grow our business; our ability to successfully remediate the material weaknesses in our internal control over financial reporting; through our largest shareholder, Nativus Company Limited, entities affiliated with China Resources Verlinvest Health Investment Ltd. will continue to have significant influence over us, including significant influence over decisions that require the approval of shareholders; as a foreign private issuer, we are not be subject to U.S. proxy rules and will be subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. domestic public company; and the other important factors discussed under the caption “Risk Factors” in Oatly’s prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on May 21, 2021, as such factors may be updated from time to time in Oatly’s other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Oatly disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Contact
Media
press@oatly.com

Investors
866-704-0391
investors@oatly.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/3c9d8bfd-02cd-4669-80b8-4e2b2a3e2ad4

https://www.globenewswire.com/NewsRoom/AttachmentNg/883a1a08-d7e7-46bb-aa5d-21ade782c41f

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