Alrik Danielson, President and CEO SKF Q2 results 2018 Alrik Danielson, President and CEO 12 November, 2018

A record second quarter 9.0% Organic sales growth Record-high sales of 22,620 M, organic growth 9.0% Record-high reported operating profit 2,925 M (2,315) Operating margin 12.9% (11.4) Cash flow 2,182 M (1,412) 2,925 M Operating profit 12.9% Operating margin 12 November, 2018

Industrial business performing well; growth also picking up in North America 11% organic growth and 15% operating margin 12 November, 2018

Automotive business outperforming the market, margin continues to strengthen 5% organic growth and operating margin 9% 12 November, 2018

Improving performance towards our targets Targets set in 2016 and valid over a business cycle: 9.0% Organic growth: Target: 5% 12.9% Operating margin: Target: 12% 67% Net debt / equity: Target: <80% 31.1% Net working capital: Target: 25% 15.8% Return on capital employed: Target: 16% 12 November, 2018

Sales growth in all markets Organic growth in local currency Q2 2018 vs Q2 2017 Europe +8.7% North America +5.3% Asia/Pacific +17.2% Latin America -3.2% Middle East & Africa +5.6% 12 November, 2018

Unplanned production stops cost billions Every time a machine is stopped and opened for maintenance when not needed drives cost New technology provides radically different tools for SKF to strengthen the competitiveness of our customers 12 November, 2018

New Rotating Performance Center in Göteborg 12 November, 2018

Q2 results – the details Christian Johansson, CFO

Sales development 2017 2018 Q2 Q3 Q4 Q1 Organic +7.5 +8.0 +8.2 +9.0 Percent y-o-y Q2 Q3 Q4 Q1 Organic +7.5 +8.0 +8.2 +9.0 Structure -2.0 -0.7 -0.6 Currency +4.9 -3.0 -3.6 -1.9 +3.4 Net sales +10.4 +4.3 +4.0 +11.8 12 November, 2018

Organic sales growth --------------- 12 November, 2018

Operating profit 12 November, 2018

Operating profit 12 November, 2018

Performance by customer group Industrial Net sales 15,930 M Organic sales +10.7% Operating margin 14.6%, (13.7) Automotive Net sales 6,690 M Organic sales +5.2% Operating margin 8.9%, (6.4) 12 November, 2018

12.9% Operating margin SKF Group – Q2 2018 Financial performance (SEKm) 2018 2017 Net sales 22 620 20 229 Cost of goods sold -16 895 -15 129 Gross profit 5 725 5 100 Gross margin, % 25.3% 25.2% Selling and administrative expenses -2 829 -2 776 Other operating income/expense 29 -9 Operating profit 2 925 2 315 Operating margin, % 12.9 11.4 Financial income and expense, net -142 -258 Profit before taxes 2 783 2 057 Taxes -759 -837 Net profit 2 024 1 220 Basic earnings per share, SEK 4.25 2.51 12.9% Operating margin 12 November, 201812 November, 201812 November, 201812 November, 2018

Cash flow after investments before financing* 12 November, 2018

Net working capital – finished goods inventories reduced in the quarter 12 November, 2018

Net debt/equity ratio stable, despite dividend payment 12 November, 2018

Guidance for 2018* Q3 2018: Financial net: around -200 million Currency impact on the operating profit is expected to be around 180 million positive compared with 2017, based on exchange rates per 30 June, 2018. 2018: Tax level: around 28% for 2018, excluding effects from divestments Additions to property, plant and equipment: around 2,400 million for 2018 * Guidance is approximate and based on current assumptions and exchange rates. 12 November, 2018

Summary – Q2 a record quarter 2,925 M Operating profit Continued growth in Q2 Record-high sales and operating profit Good cash flow Expect to see continued growth in Q3 – higher volumes year-over-year 12.9% Operating margin 2,182 M Cash flow 12 November, 2018

July 2018: SKF demand outlook Q3 2018 Demand compared to the third quarter 2017 The demand for SKF’s products and services is expected to be higher for the Group, including Industrial and Automotive. Demand is expected to be significantly higher in Asia, higher in Europe and North America, and slightly lower in Latin America. 12 November, 2018

SKF Q2 results 2018 Q & A 12 November, 2018

Financial calendar SEB Industrial & Technology Seminar Stockholm 23 August SHB Nordic Large Cap Seminar Stockholm 12 September Roadshow Paris & the Netherlands September Roadshow Germany US Roadshow October Q3 report 25 October Capital Markets Day 29 November 12 November, 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 investors.skf.com) under the Administration Report; “Risk management" and "Sensitivity analysis”.

12 November, 2018