News Release

Non-Dairy Frozen Dessert Bars to Hit U.S. Stores Beginning This December

NEW YORK, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Oatly Group AB (Nasdaq: OTLY) (“Oatly” or the “Company”), the world’s original and largest oat drink company, announced today the introduction of its latest product innovation, Oatly non-dairy frozen dessert bars (also lovingly referred to as, Oatly on a stick). The indulgent and delicious treats join a North American portfolio of Oatly frozen desserts that in less than two years, has become the number one oat-based ice cream brand¹. Entering a frozen novelties category worth $5.4 billion in the U.S.², Oatly non-dairy frozen dessert bars unlock a significant opportunity for people to continue making the switch to plant-based foods like oatmilk, which have a lower impact – on emissions and natural resources - than animal-based foods like cow’s milk.

“Our new non-dairy frozen dessert bars are fantastic, and I can’t wait for people to try them,” said Mike Messersmith, President, Oatly North America. “We’re proving that oatmilk is not just for coffee, cereal or cooking, but can also be the foundation for great-tasting treats to be enjoyed during celebration moments or when a pick-me-up reward is needed. We are so proud of this product and are very excited to bring it to many frozen aisles across the country soon.”

Consumers continue to make the shift to plant-based options, and desserts are no exception. The plant-based ice cream category continues to expand, and more specifically, the ice cream bar category is set to eclipse ice cream pint sales in 2022³. In the Plant-Based Ice Cream category (excluding sorbet), Oatly frozen dessert pints are leading the way⁴, ranking:

• #1 Highest Velocity/Item Brand
• #1 Fastest Growing Distribution Brand, among existing brands
• #1 in Dollar Growth in Total US Food
  

Oatly’s new non-dairy frozen dessert bars will be available in four flavors, including Vanilla, Chocolate Fudge, and Salted Caramel, in addition to a new Strawberry Swirl, all encased in a decadent chocolatey coating. The oatmilk-based frozen bars will feature the same recipe, consistency and delightful taste that Oatly fans have come to expect from the brand. Three ounces in size - slightly above industry average (providing those extra couple of bites that everyone wants) - the non-dairy frozen dessert bars will be available in three-count packs, with a suggested retail price of $5.99. Customers will be able to find Oatly non-dairy frozen dessert bars at more than 3,000 retail outlets through national and regional grocers including Target, Wegmans, Schnucks, Harris Teeter, Giant, Stop & Shop, Fresh Direct and more, beginning to hit shelves in December and throughout the first half of 2022.

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, spreads and on-the-go drinks. Headquartered in Malmö, Sweden, the Oatly brand is available in more than 20 countries globally.

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 anticipated success of Oatly frozen desserts as well as their environmental impact, as well as statements that include the 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 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; supply chain delays, including delays in the receipt of product at factories and ports, and an increase in transportation costs; the impact of rising commodity prices, transportation and labor costs on our cost of goods sold; failure by our logistics providers to deliver our products on time, or at all; our ability to successfully ramp up operations at any of our new facilities, including at our Ogden facility, and operate them in accordance with our expectations; failure to develop and maintain our brand; 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, and Oatly’s other filings with the SEC as such factors may be updated from time to time. 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
Mary-Kate Smitherman
marykate.smitherman@oatly.com

Sources
1, 3, 4) Nielsen XOAC (includes brands with >10 ACV) 52WE 10.16.21
2) Nielsen XOAC, 52WE 10.23.21