Alrik Danielson, President and CEO SKF Q1 results 2017 Alrik Danielson, President and CEO 20 September, 2018

2017 – a busy first quarter Digitalisation and connectivity New IMx-8 machine health monitoring platform launched Enlight Centre launched. A next-generation, Internet enabled condition-based maintenance and condition monitoring system Investments New fully automated SRB production channel opened in Göteborg, Sweden Expanding production capacity in Nilai, Malaysia Structure and Climate New climate targets launched Consolidated organizational structure and Group Management 5G 20 September, 2018

Industrial digitalisation product releases Q1 2017 SKF Enlight centre for Marine SKF Multilog IMx-8 Industrial digitalisation product releases Q1 2017 SKF QuickCollect app SKF QuickCollect sensor SKF Data Collect app 20 September, 2018

12.0% Operating margin* Q1 summary Sales SEK 19 601 M, +10.9% compared to Q1 2016, organic sales +8.0% Adjusted operating profit SEK 2 357 M (1 972) Adjusted operating margin 12.0% (11.2) One-time items SEK -62 M (-97) Cash flow SEK 64 M (510) Profit before tax SEK 2 125 M (1 658) 12.0% Operating margin* * Adjusted for items affecting comparability 20 September, 2018

Sales development by geography Organic growth in local currency Q1 2017 vs Q1 2016 Europe +5.0% North America +7.8% Asia/Pacific +12.8% Latin America +11.4% Middle East & Africa +9.5% 20 September, 2018

Sales development by Customer Industry 20 September, 2018

Q1 results – the details Christian Johansson, CFO 2 Q1 results – the details Christian Johansson, CFO

Sales development 2016 2017 Q1 Q2 Q3 Q4 Organic -6.1 -4.4 -0.6 +1.2 Percent y-o-y Q1 Q2 Q3 Q4 Organic -6.1 -4.4 -0.6 +1.2 +8.0 Structure -0.8 -2.0 -1.8 Currency -3.0 +0.1 +3.7 +4.9 Net sales -8.9 -8.0 -2.5 +3.1 +10.9 20 September, 2018

Organic sales growth 20 September, 2018

Adjusted operating profit* * Adjusted for items affecting comparability 20 September, 2018

Operating profit 20 September, 2018

Performance by customer group Industrial Net sales SEK 13 485 Organic sales +7.9% Adjusted operating margin* 14.2% Automotive Net sales SEK 6 116 M Organic sales +8.4% Adjusted operating margin* 7.2% * Adjusted for items affecting comparability 20 September, 2018

12.0% Operating margin* SKF Group – Q1 2017 Financial performance (SEKm) 2017 2016 Net sales 19 601 17 676 Cost of goods sold -14 627 -13 282 Gross profit 4 974 4 394 Gross margin, % 25.4 24.9 Selling and administrative expenses -2 691 -2 495 Other operating expenses 12 -24 Operating profit 2 295 1 875 Items affecting comparability -62 -97 Adjusted operating profit 2 357 1 972 Operating margin, % 11.7 10.6 Adjusted operating margin, % 12.0 11.2 Financial income and expense, net -170 -217 Profit before taxes 2 125 1 658 Taxes -654 -514 Net profit 1 471 1 144 Basic earnings per share, SEK 3.09 2.40 12.0% Operating margin* * Adjusted for items affecting comparability 20 September, 2018

Cost management The fixed cost index was 98 at the end of Q1, adjusted for the costs related to the implementation of our new ERP system Unite the index was 96. The number of employees increased by 652 in the quarter – of which 130 permanent employees, and 522 temporary employees including agency personnel. Staff employees were reduced by 90 people. Activity-based cost reductions continue with high focus 20 September, 2018

Cash flow after investments before financing* 20 September, 2018

Net working capital 30.9% of annual sales 20 September, 2018

Net debt decreased by 0.9 bn in the quarter 20 September, 2018

Guidance for 2017* Q2 2017: Financial net: around -225 million Currency impact on the operating profit is expected to be around + 170 million compared with 2016 based on exchange rates per March 31. 2017: Tax level: around 30% for 2017, excluding effects from divestments Additions to property, plant and equipment: around 2,200 million for 2017 * Guidance is approximate and based on current assumptions and exchange rates. 20 September, 2018

April 2017: SKF demand outlook Q2 2017 Demand compared to the second quarter 2016 The demand for SKF’s products and services is expected to be higher for the Group and for Industrial. Demand for Automotive is expected to be significantly higher. Demand is expected to be slightly higher in Europe, significantly higher in North America and in Asia and higher in Latin America. Demand compared to the first quarter 2017 The demand for SKF’s products and services is expected to be slightly higher for the Group including Industrial and Automotive. Demand is expected to be relatively unchanged in Europe and in Latin America, slightly higher in North America and higher in Asia. 20 September, 2018

Financial calendar Roadshow Stockholm 4 May Q2 report 21 July 31 October 20 September, 2018

SKF Q1 results 2017 Q & A 20 September, 2018

Cautionary statement This presentation contains forward-looking statements that are based on the current expectations of the management of SKF. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors mentioned in SKF's latest annual report (available on www.skf.com) under the Administration Report; “Risk management at SKF" and "Sensitivity analysis”.

20 September, 2018