Alrik Danielson, President and CEO SKF Q1 results 2019 Alrik Danielson, President and CEO 28 May, 2019

Q1 – strong operating performance 0.3% Organic sales growth Net sales of 21,278 M, organic growth 0.3% Operating profit 2,658 M (2,625) Operating margin of 12.5% (12.8) Cash flow 684 M (259) 2,658 M Operating profit 12.5% Operating margin 28 May, 2019

Industrial business performing well; increased volumes in all three main markets, North America, Europe and Asia 3.0% organic growth in Q1 28 May, 2019

Automotive; organic sales in Q1 declined due to lower car volumes in Europe, Asia and North America. -5.9% organic growth in Q1 28 May, 2019

Improving performance towards our targets - Targets set in 2016 and valid over a business cycle: 28 May, 2019

Stable revenues on high level in the quarter Organic growth in local currency Q1 2019 vs Q1 2018 Europe +1% North America +0% Asia/Pacific +0% Latin America +2% 28 May, 2019

New plant inaugurated in Changshan, China 28 May, 2019

Cooperation between SKF and Siemens – MindSphere 28 May, 2019

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

Sales development 2018 2019 Q1 Q2 Q3 Q4 Organic +7.5 +9.0 +6.9 +5.0 Percent y-o-y Q1 Q2 Q3 Q4 Organic +7.5 +9.0 +6.9 +5.0 +0.3 Structure -0.7 -0.6 -0.1 -1.0 -2.5 Currency -1.9 +3.4 +7.8 +4.8 +5.7 Net sales +4.9 +11.8 +14.6 +8.8 +3.5 28 May, 2019

Operating profit 28 May, 2019

Operating profit 28 May, 2019

Performance by customer group Industrial Net sales 15,049 M Organic sales +3.0% Operating margin 15.4%, (15.0) Automotive Net sales 6,229 M Organic sales -5.9% Operating margin 5.5%, (7.7) 28 May, 2019

12.5% Operating margin SKF Group – Q1 2019 Financial performance (SEKm) 2019 2018 Net sales 21 278 20 560 Cost of goods sold -15 857 -15 312 Gross profit 5 421 5 248 Gross margin, % 25.5% Selling and administrative expenses -2 805 -2 700 Other operating income/expense 42 77 Operating profit 2 658 2 625 Operating margin, % 12.5 12.8 Financial income and expense, net -216 -200 Profit before taxes 2 442 2 425 Taxes -661 -638 Net profit 1 781 1 787 Basic earnings per share, SEK 3.77 12.5% Operating margin 28 May, 201928 May, 201928 May, 2019

Cash flow after investments before financing* 28 May, 2019

Net working capital 28 May, 2019

Net debt/equity ratio well below target 28 May, 2019

Guidance for 2019* Q2 2019: Financial net: around -240 million Currency impact on the operating profit is expected to be positive by 110 million compared with 2018, based on exchange rates per 31 March, 2019. 2019: Tax level: around 28% for 2019, excluding effects from divestments Additions to property, plant and equipment: around 2,800 million for 2019. * Guidance is approximate and based on current assumptions and exchange rates. 28 May, 2019

Summary – strong operating performance in Q1 0.3% Organic sales growth Organic growth of 0.3% Operating profit 2,658 M - best Q1 result to date Operating margin of 12.5% Improved cash flow Expect to see slightly lower volumes in Q2 2,658 M Operating profit 12.5% Operating margin 28 May, 2019

SKF Q1 results 2019 Q & A 28 May, 2019

April 2019: SKF demand outlook Q2 2019 Demand compared to the second quarter 2018 The demand for SKF’s products and services is expected to be slightly lower for the Group, including relatively unchanged demand for Industrial and lower demand for Automotive. Demand is expected to be slightly lower in Europe, Asia and in North America and higher in Latin America. 28 May, 2019

Financial calendar Q1 report 25 April UK roadshow 8-9 May European Roadshow Germany/Netherlands/France May JP Morgan London seminar 14 June Q2 report 17 July SEB Technology seminar 29 August US roadshow September Q3 report 22 October UBS London conference 13 November 28 May, 2019

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”.

28 May, 2019