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Form 4 Oatly Group AB For: May 30 Filed by: David Marie-Jose

June 2, 2026 7:26 PM
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
David Marie-Jose
(Last) (First) (Middle)
ANGFARJEKAJEN 8
(Street)
MALMO 211 19
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Oatly Group AB [ OTLY ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
3. Date of Earliest Transaction (Month/Day/Year)
05/30/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
ADSs 05/30/2026 A (1) 24,875 A $ 0 86,198 (2) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (3) $ 10.05 05/30/2026 A 45,228 (4) (5) ADSs 45,228 $ 0 45,228 D
Stock Options (3) $ 21.20 (6) (7) ADSs 14,150 14,150 D
Explanation of Responses:
1. Reflects the grant of RSUs, which vest in three equal annual increments beginning 5/30/2027. Each RSU represents a right to receive one ADS in the Issuer.
2. Includes RSUs, each RSU represents a right to receive one ADS in the Issuer. 5,574 RSUs vest on 6/28/2026, 625 RSUs will vest on 7/11/2026, 6,141 RSUs will vest on 5/30/2027, 20,336 RSUs will vest in two equal annual increments beginning 5/30/2027, and 24,875 RSUs will vest in three equal annual increments beginning 5/30/2027. There are no voting or dividend rights prior to vesting.
3. Each stock option represents a right to receive one ADS in the Issuer.
4. The stock options vest in three equal annual increments beginning 5/30/2027.
5. The stock options expire seven years after the grant date.
6. The stock options vest in three equal annual increments beginning 5/30/2025.
7. The stock options expire five years after the relevant vesting date.
Timothy Sjovall, pursuant to power of attorney 06/02/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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EX-24

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