Fleet Financing

Oatly adds electric trucks to

MALMÖ, Sweden, June 09, 2022 (GLOBE NEWSWIRE) — Oatly Group AB (“OTLY”) (“Oatly” or the “Company”), the world’s first and largest oat beverage company, announced today introducing electric power, heavy-duty trucks to the Company’s ground transportation in North America. Finding initial success with the use of electric trucks as part of the company’s transport operations in Europe from 2020, Oatly is now expanding the initiative to include an initial fleet of five electric trucks in the United States as part of of its ambition to lead by example as a future company, Oatly aims to transition to 100% sustainable ground transportation for its products and materials by 2029. The introduction of electric trucks into US operations helps achieve this ambition .

“Oatly is on a mission to transform the global food system into one that is healthier for people and the planet. A critical part of this system includes the transportation that we and the wider food and beverage industry use throughout the supply chain,” said Chi Mbachu, vice president of logistics at Oatly, North America. North. “Any improvement we can make across our business to have less impact on the environment, including in our transport logistics, is a step in the right direction and something we are constantly striving for at Oatly. We are excited to put these electric trucks on the roads in North America and continue our global transition to sustainable ground transportation.

Einride, a leader in providing electric and autonomous shipping solutions and Oatly’s existing electric shipping partner in Europe, now serves as the company’s freight mobility partner in North America. For Oatly, Einride provides electric freight solutions including connected electric trucks, charging infrastructure and connectivity services, all powered by Einride Saga, which runs a proprietary operating system that ensures optimized and efficient shipping.

Einride estimates that using this fleet of five trucks in the United States will save Oatly around 400,000 kg of CO2 over the next year, compared to using diesel trucks on the same routes. This represents an 87% reduction in carbon footprint on certain routes, compared to using diesel trucks. Oatly uses its fleet of five electric trucks from its two currently operating factories in the United States, located in Ogden, UT and Millville, NJ. Multi-purpose routes are scheduled regularly from Oatly factories to nearby recycling and packaging partners.

As one of the first companies in Europe to introduce a fleet of heavy-duty electric trucks from October 2020, Oatly operates four electric trucks on different routes in the region, particularly in Sweden, which provide transport in direct 24/7 between Oatly production facilities and warehouse partners. In Europe, Oatly sees an 87% reduction in CO2 emissions using the fleet of four electric trucks, compared to diesel equivalents on the same routes, and expects to save 2,000 tonnes of CO2 in the European region by the initiative’s fifth year of operation. Eighteen months after its launch, this projection remains on track.

About Oatly
We are the first and largest oatmeal beverage company in the world. For more than 25 years, we have focused exclusively on developing expertise around oats: a global energy crop with intrinsic properties suitable for sustainability and human health. Our commitment to oats has resulted in fundamental technical advancements that have allowed us to unlock the breadth of the dairy portfolio, including milk alternatives, ice cream, yogurt, cooking creams, spreads and drinks to go. Based in Malmö, Sweden, the Oatly brand is available in over 25 countries worldwide.

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 including, without limitation, regarding Oatly’s path to sustainable ground transportation, Oatly’s goal to transition to 100% sustainable ground transportation for its products and materials by 2029, Oatly’s mission to transform the global food system, Oatly’s estimates of the benefits of using its five-truck fleet, including anticipated carbon footprint reduction, and statements that include the words “expect”, “have intention”, “plan”, “believe”, “project”, “anticipate”, “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 not promises or guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: general economic conditions , including elevated cost inflationary pressures; our history of losses and our inability to achieve or maintain profitability; the impact of the COVID-19 pandemic, including the spread of virus variants, on our business and the international economy; reduced or limited availability of oats or other raw materials that meet our quality standards; the inability to obtain additional financing to achieve our objectives or the inability to obtain necessary capital when needed on acceptable terms; damage to or disruption of our production facilities; damage to our brand and reputation due to actual or perceived food quality or safety issues with our products; food safety and foodborne illness incidents and related legal actions, product recalls or regulatory enforcement actions; our ability to compete successfully in our highly competitive markets; changing consumer preferences and our ability to adapt to new or changing preferences; customer consolidation or loss of a major customer; reduced sales of our oat milk varieties; failure to comply with our existing or new environmental measures and other sustainability and corporate social responsibility risks; litigation, regulatory actions or other legal proceedings, including environmental and securities class actions; changes in international trade policies, treaties and tariffs and the ongoing conflict in Ukraine; changes to our tax rates or exposure to additional tax obligations or assessments; failure to expand our manufacturing and production capacity as we grow our business; supply chain delays, including delays in receiving products at factories and ports, and increased transportation costs; the impact of rising raw material prices, transportation and labor costs on the cost of goods sold; the inability of our logistics providers to deliver our products on time, or at all; our ability to successfully ramp up operations of any of our new facilities and operate them in accordance with our expectations; inability to develop and maintain our brand; ; our ability to introduce new products or successfully improve existing products; the inability to retain our senior executives or to attract, train and retain employees; cybersecurity incidents or other technological disruptions; failure to adequately protect our intellectual and proprietary technology; our ability to successfully remedy material weaknesses, or other future control deficiencies, in our internal control over financial reporting; our status as an emerging growth company; our status as a foreign private issuer; through our major shareholder, Nativus Company Limited, China Resources Affiliates Verlinvest Health Investment Ltd. will continue to have significant influence over us, including significant influence over decisions that require shareholder approval; and other material factors discussed under “Risk Factors” in Oatly’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with the SEC on April 6, 2022 and other filings with the SEC, as these factors may be updated from time to time. All 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, except to the extent required by applicable law.

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The photo is also available through AP PhotoExpress.

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