1 SKF First-quarter results 2015 Alrik Danielson, President and CEO 17 April 2015

© SKF Group 17 April Examples of new business in Q Chongqing General Industry (Group) Co and JiangSuHigh-speed permanent magnetic Jin Tong Ling Fluid Machinery Technology Co, Chinablower solutions Volvo Car Corporation, SwedenWheel hub bearing units with low friction grease Autopartes NAPA, MexicoAgreement to market SKF’s product range Citroen C4 Cactus, Peugeot 2008 and Fiat 500XProducts and solutions Slide 2

© SKF Group 17 April Highlights Slide 3 SKF has worked closely with Scuderia Ferrari to produce bearing sets manufactured from specially developed tool steel Re-signed the contract as a Ducati Corse Official Technical partner Achieved the energy management ISO certification on a global scale SKF will invest SEK 190 million to modernize its spherical roller bearing factory in Gothenburg, Sweden

© SKF Group 17 April SKF Generalized Bearing Life Model Surface vs sub-surface failure modes Slide 4 internal geometry load rating limiting speed steel composition surface finish heat treatment contamination resistance wear resistance coatings lubrication reduced vibration longer service life lower noise reduced friction reduced vibration corrosion resistance Slide 4

© SKF Group 17 April Slide 5 Innovations at Hannover Fair Two new oil-free bearing solutions for centrifugal compressors in chillers A solution to improve the reliability, safety and performance of jack-up gearboxes used in the offshore oil and gas industry and in the renewable energy industry A new shaft alignment tool, specifically designed for usage with smartphones or tablets A new magnetic bearing control cabinet for turbo-machinery, for onshore, offshore and subsea turbo-machinery SKF Enlight, combines a powerful new mobile app with a special Bluetooth-enabled sensor SKF Data Collect, a cloud-based solution to record and manage data

© SKF Group 17 April Slide 6 Construction of a large-size bearing test centre in Schweinfurt, Germany The test center will have two large size test rigs, one for wind turbines and one for other industries. The investment will total SEK 360 million, and is expected to be completed during the first half of 2017.

© SKF Group 17 April Christian Johansson, new Senior Vice President and CFO Slide 7 Bachelor of Science in Business Administration, Stockholm University Currently CFO at Gunnebo AB Christian has solid executive experience managing global business services. Before joining Gunnebo: -Vice President Region Americas and EMEA for Volvo Business Services -SVP and CFO for Volvo Trucks -Regional Director, Central Eastern Europe within ABB Service World Wide. Christian will start his new position in SKF no later than October 2015.

© SKF Group 17 April SKF Group – Q Slide 8 Financial performance (SEKm) Net sales Operating profit Operating margin, % Operating margin excl. one-time items, % Profit before taxes Basic earnings per share, SEK Cash flow after investments before financing988-63* Organic sales change y-o-y: SKF Group1.4%Europe1.0% Industrial Market1.8%North America-2.4% Automotive Market0.6%Asia5.6% Specialty Business0.7%Latin America0.4% Middle East and Africa14.2% Manufacturing was higher y-o-y and compared to last year. * Previously published cash flow information is restated

© SKF Group 17 April Organic sales growth in local currency Slide 9 % change y-o-y

© SKF Group 17 April Organic sales growth in local currency Slide 10 % y-o-y Structure in 2013: 2.5% Structure in 2014: 3.7% Structure in 2015: 0% 1.4% 3.9% -0.7%

© SKF Group 17 April Sales development by geography Organic growth in local currency Q vs Q Slide 11 Europe 1.0% Asia/Pacific 5.6% Middle East & Africa 14.2% Latin America 0.4% North America -2.4%

© SKF Group 17 April Components in net sales Slide Percent y-o-y Q1Q2Q3Q4Q1Q2Q3Q4Q1 Organic Structure Sales in local currency Currency Net sales

© SKF Group 17 April Operating profit as reported Slide 13 SEKm

© SKF Group 17 April Operating profit excluding one-time items Slide 14 SEKm

© SKF Group 17 April Operating margin Slide 15 % * One-time items * Excluding one-time items * 11.7* 11.0

© SKF Group 17 April Slide 16 Specialty Business* Automotive Market % Operating margin per business area as reported Industrial Market * Q4 2013, impacted by cost related to Kaydon acquisition

© SKF Group 17 April Slide 17 Specialty Business Automotive Market % Operating margin per business area excl. one-time items Industrial Market

© SKF Group 17 April Operating profit bridge, Q Slide SEKm Q1 2014Q One-time items at 2014 exchange rates Acquisitions/ divestments Currency impact Other*Organic sales growth in local currencies * Includes general inflation, manufacturing and purchasing impacts, IT project and running costs, and R&D Savings from restructuring programme

© SKF Group 17 April Restructuring programme Main activities: - merging the two industrial businesses - streamlining of supporting country organisations in all main countries - general staff optimization and productivity improvements Reduction of annual cost by SEK 1.2 billion by the end of Total cost for the programme around SEK 1.4 billion, covering people. Major part of the programme expected to be implemented within 2015 After first quarter 2015 around 40% of planned activities are in progress Q Cost, SEKm535 People affected575 Cost savings in Q1- Annual cost savings, SEKm:460 effective beginning 2016 Slide 19

© SKF Group 17 April Net working capital as % of annual sales Slide 20 % Target: 27%

© SKF Group 17 April Return on capital employed Slide 21 % * One-time items * Excluding one-time items ROCE: Operating profit plus interest income, as a percentage of twelve months rolling average of total assets less the average of non-interest bearing liabilities. 14.5*14.8* 13.9

© SKF Group 17 April Cash flow, after investments before financing* Slide 22 SEKm Excl. acq. and div.:1)Q1 2013SEK -69 million 2)Q3 2013SEK 871 million 3)Q4 2013SEK million Excl. EU payment4) Q2 2014SEK million 3)3) 4)4) 2)2) 1) * 2013 and 2014 are restated

© SKF Group 17 April Net debt Slide 23 SEKm AB SKF, dividend paid (SEKm) : 2013 Q Q Cash out from major acquisitions (SEKm) : 2013 Q Q Net debt:Loans and net provisions for post-employment benefits less short-term financial assets excluding derivatives. EU payment (SEKm) : 2014 Q22 825

© SKF Group 17 April Debt structure, maturity years Slide 24 Available credit facilities: EUR 500 million 2019 SEK million 2018 EUR 150 million 2017 No financial covenants nor material adverse change clause

© SKF Group 17 April April 2015: SKF demand outlook Q Slide 25 Demand compared to the second quarter 2014 The demand for SKF’s products and services is expected to be relatively unchanged for the Group and for Europe. For Asia it is expected to be higher and for North and Latin America slightly lower. Per business area, for both Industrial Market and Automotive Market it is expected to be relatively unchanged, and for Specialty Business to be slightly higher. Demand compared to the first quarter 2015 The demand for SKF’s products and services is expected to be relatively unchanged for the Group, Europe and North America. For Asia it is expected to be higher and for Latin America slightly lower. Per business area, for both Industrial Market and Automotive Market it is expected to be relatively unchanged, and for Specialty Business to be slightly higher. Manufacturing Manufacturing is expected to be relatively unchanged year over year and compared to the first quarter.

© SKF Group 17 April Guidance for 2015* Slide 26 Q2 2015: Financial net: around SEK -230 million Currency impact on operating profit vs 2014 Q2: SEK +800 million 2015: Tax level: below 30% for 2015 Additions to PPE: around SEK million for 2015 * Guidance is approximate and based on current assumptions and exchange rates.

© SKF Group 17 April Cautionary statement Slide 27 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 under the Administration Report; “Important factors influencing the financial results", "Financial risks" and "Sensitivity analysis”.