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

2. © SKF Group 17 April 2015 2 Examples of new business in Q1 2015 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

3. © SKF Group 17 April 2015 3 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 50001 certification on a global scale SKF will invest SEK 190 million to modernize its spherical roller bearing factory in Gothenburg, Sweden

4. © SKF Group 17 April 2015 4 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

5. © SKF Group 17 April 2015 5 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

6. © SKF Group 17 April 2015 6 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.

7. © SKF Group 17 April 2015 7 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.

8. © SKF Group 17 April 2015 8 SKF Group – Q1 2015 Slide 8 Financial performance (SEKm) 20152014 Net sales19 45416 734 Operating profit1 7212 024 Operating margin, %8.812.1 Operating margin excl. one-time items, %12.211.4 Profit before taxes1 5921 787 Basic earnings per share, SEK2.462.72 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

9. © SKF Group 17 April 2015 9 Organic sales growth in local currency Slide 9 % change y-o-y 201320142015

10. © SKF Group 17 April 2015 10 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%

11. © SKF Group 17 April 2015 11 Sales development by geography Organic growth in local currency Q1 2015 vs Q1 2014 Slide 11 Europe 1.0% Asia/Pacific 5.6% Middle East & Africa 14.2% Latin America 0.4% North America -2.4%

12. © SKF Group 17 April 2015 12 Components in net sales Slide 12 201320142015 Percent y-o-y Q1Q2Q3Q4Q1Q2Q3Q4Q1 Organic-8.0-2.22.06.95.84.63.22.81.4 Structure1.52.61.14.84.73.85.40.90 Sales in local currency -6.50.43.111.710.58.48.63.71.4 Currency-4.0-5.0-2.2-2.1-0.11.15.38.914.9 Net sales-10.5-4.60.99.610.49.513.912.616.3

13. © SKF Group 17 April 2015 13 Operating profit as reported Slide 13 SEKm 201320142015

14. © SKF Group 17 April 2015 14 Operating profit excluding one-time items Slide 14 SEKm 201320142015

15. © SKF Group 17 April 2015 15 Operating margin Slide 15 % 5.8 11.9* One-time items * Excluding one-time items 8.8 12.2* 11.7* 11.0

16. © SKF Group 17 April 2015 16 Slide 16 Specialty Business* Automotive Market % 201320142015 Operating margin per business area as reported Industrial Market * Q4 2013, impacted by cost related to Kaydon acquisition

17. © SKF Group 17 April 2015 17 Slide 17 Specialty Business Automotive Market % 201320142015 Operating margin per business area excl. one-time items Industrial Market

18. © SKF Group 17 April 2015 18 Operating profit bridge, Q1 2015 Slide 18 -1 547 -700 +1 721 +1200 +450-173 SEKm Q1 2014Q1 2015 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.. +2 024 0 Savings from restructuring programme

19. © SKF Group 17 April 2015 19 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 2016. Total cost for the programme around SEK 1.4 billion, covering 1 500 people. Major part of the programme expected to be implemented within 2015 After first quarter 2015 around 40% of planned activities are in progress Q1 2015 Cost, SEKm535 People affected575 Cost savings in Q1- Annual cost savings, SEKm:460 effective beginning 2016 Slide 19

20. © SKF Group 17 April 2015 20 Net working capital as % of annual sales Slide 20 % 201320142015 Target: 27%

21. © SKF Group 17 April 2015 21 Return on capital employed Slide 21 % 12.6 7.5 15.1* 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

22. © SKF Group 17 April 2015 22 Cash flow, after investments before financing* Slide 22 SEKm 201320142015 Excl. acq. and div.:1)Q1 2013SEK -69 million 2)Q3 2013SEK 871 million 3)Q4 2013SEK 1 122 million Excl. EU payment4) Q2 2014SEK 1 423 million 3)3) 4)4) 2)2) 1) * 2013 and 2014 are restated

23. © SKF Group 17 April 2015 23 Net debt Slide 23 SEKm 201320142015 AB SKF, dividend paid (SEKm) : 2013 Q22 530 2014 Q22 530 Cash out from major acquisitions (SEKm) : 2013 Q1823 2013 Q47 900 Net debt:Loans and net provisions for post-employment benefits less short-term financial assets excluding derivatives. EU payment (SEKm) : 2014 Q22 825

24. © SKF Group 17 April 2015 24 Debt structure, maturity years Slide 24 Available credit facilities: EUR 500 million 2019 SEK 3 000 million 2018 EUR 150 million 2017 No financial covenants nor material adverse change clause 200 100 110 500 850

25. © SKF Group 17 April 2015 25 April 2015: SKF demand outlook Q2 2015 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.

26. © SKF Group 17 April 2015 26 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 1 700 million for 2015 * Guidance is approximate and based on current assumptions and exchange rates.

27. © SKF Group 17 April 2015 27 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 www.skf.com) under the Administration Report; “Important factors influencing the financial results", "Financial risks" and "Sensitivity analysis”.