SKF First-Quarter Results 2015: New Business, Innovations, and Financial Highlights

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

2. Examples of new business in Q1 2015 • Chongqing General Industry (Group) Co and JiangSu High-speed permanent magnetic Jin Tong Ling Fluid Machinery Technology Co, China blower solutions • Volvo Car Corporation, Sweden Wheel hubbearingunitswithlowfrictiongrease • Autopartes NAPA, MexicoAgreementto market SKF’sproductrange • Citroen C4 Cactus, Peugeot 2008 and Fiat 500X Products and solutions

3. Highlights • SKF has workedcloselywithScuderia Ferrari toproducebearing sets manufactured from speciallydevelopedtoolsteel • Re-signedthe contract as a Ducati Corse OfficialTechnicalpartner • Achieved the energy management ISO 50001 certification on a global scale SKF willinvest SEK 190 million to modernize its spherical roller bearing factory in Gothenburg, Sweden

4. SKF GeneralizedBearing Life Model Surface vs sub-surfacefailure modes heat treatment internal geometry contamination resistance surface finish wear resistance reduced vibration longer service life lower noise reduced friction load rating limiting speed reduced vibration steel composition coatings corrosion resistance lubrication Slide 4

5. Innovations at Hannover Fair • Two new oil-freebearing solutions for centrifugal compressors in chillers • A solution toimprove the reliability, safety and performanceof jack-upgearboxesused in the offshore oil and gas industry and in the renewableenergyindustry • A new shaft alignment tool, specifically designed for usage with smartphones or tablets A new magneticbearingcontrolcabinet for turbo-machinery, for onshore, offshore and subsea turbo-machinery SKF Enlight, combines a powerful new mobile appwith a special Bluetooth-enabled sensor SKF Data Collect, a cloud-based solution to record and manage data

6. Construction of a large-sizebearing 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. Christian Johansson, new Senior Vice President and CFO • Bachelor of Science in Business Administration, Stockholm University • Currently CFO at GunneboAB • 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 inSKF no later than October 2015.

8. SKF Group – Q1 2015 Manufacturingwashigher y-o-y and compared to last year. * Previouslypublished cash flow information is restated

9. Organic sales growth in local currency % change y-o-y 2013 2014 2015

10. Organic sales growth in local currency % y-o-y 3.9% 1.4% -0.7% Structure in 2013: 2.5% Structure in 2014: 3.7% Structure in 2015: 0%

11. Sales development by geographyOrganic growth in local currency Q1 2015 vs Q1 2014 Europe 1.0% North America -2.4% Asia/Pacific 5.6% Latin America 0.4% Middle East & Africa 14.2%

12. Components in net sales

13. Operating profit as reported SEKm 2013 2014 2015

14. Operating profit excluding one-time items SEKm 2013 2014 2015

15. Operating margin One-time items * Excludingone-timeitems % 12.2* 11.9* 11.7* 11.0 8.8 5.8

16. Operating margin per business area as reported % Industrial Market Specialty Business* Automotive Market 2013 2014 2015 * Q4 2013, impacted by costrelatedtoKaydonacquisition

17. Operating margin per business area excl. one-time items % Industrial Market Specialty Business Automotive Market 2013 2014 2015

18. Operating profit bridge, Q1 2015 SEKm +2 024 -700 +450 0 -173 +1 721 +120 0 -1 547 Q1 2014 One-timeitems at 2014 exchange rates Organicsalesgrowth in localcurrencies Acquisitions/divestments Currencyimpact Savings from restructuring programme Other* Q1 2015 * Includes general inflation, manufacturing and purchasingimpacts, IT project and runningcosts, and R&D..

19. Restructuringprogramme • Main activities:- merging the twoindustrialbusinesses- streamliningofsupporting country organisations in all maincountries • - general staffoptimization and productivityimprovements • Reductionofannualcost by SEK 1.2 billion by the end of2016. • Total cost for the programmearound SEK 1.4 billion, covering 1 500 people. • Major part of the programmeexpectedto be implementedwithin 2015 • Afterfirstquarter 2015 around 40% ofplannedactivitiesare in progress

20. Net working capital as % of annual sales Target: 27% % 2013 2014 2015

21. Return on capital employed One-time items * Excluding one-time items % 15.1* 14.8* 14.5* 13.9 12.6 7.5 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.

22. Cash flow, after investments before financing* SEKm 4) 3) 2) 1) 2013 2014 2015 Excl. acq. and div.: 1) Q1 2013 SEK -69 million 2) Q3 2013 SEK 871 million 3) Q4 2013 SEK 1 122 million Excl. EU payment 4) Q2 2014 SEK 1 423 million * 2013 and 2014 arerestated

23. Net debt SEKm AB SKF, dividend paid (SEKm): 2013 Q2 2 530 2014 Q2 2 530 Cash out from major acquisitions (SEKm): 2013 Q1 823 2013 Q4 7 900 EU payment (SEKm): 2014 Q22 825 2013 2014 2015 Net debt: Loans and net provisions for post-employment benefits less short-term financial assets excluding derivatives.

24. Debt structure, maturity years 850 500 500 200 110 100 100 • Availablecreditfacilities: • EUR 500 million 2019 • SEK 3 000 million 2018 • EUR 150 million 2017 • No financialcovenants nor material adversechangeclause

25. April 2015: SKF demand outlook Q2 2015 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. Guidance for 2015* • Q2 2015: • Financial net: around SEK -230 million • Currency impact on operating profit vs 2014Q2: SEK +800 million • 2015: • Tax level: below 30% for 2015 • Additions to PPE: around SEK 1700 million for 2015 * Guidance is approximate and based on current assumptions and exchange rates.

27. 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; “Important factors influencing the financial results", "Financial risks" and "Sensitivity analysis”.