Alrik Danielson, President and CEO SKF Q4 results 2018 Alrik Danielson, President and CEO 4 April, 2019

Q4 – excellent result and strong cash flow 5.0% Organic sales growth Net sales of 21,192 M, organic growth 5.0% Operating profit 2,902 M (2,017) Operating margin improved to 13.7% (10.4) Cash flow 4,259 M (1,704) Proposed dividend of SEK 6.00 2,902 M Operating profit 13.7% Operating margin 4 April, 2019

Industrial business performing well; increased volumes in all three main markets, North America, Europe and Asia 8.8% organic growth in Q4 and 9.4% for the full year 4 April, 2019

Automotive; organic sales in Q4 declined due to lower car volumes in Europe and to lower sales in Asia. -3.7% organic growth in Q4 and +2.1% for the full year 4 April, 2019

Improving performance towards our targets in 2018 Targets set in 2016 and valid over a business cycle: 7.1% Organic growth: Target: 5% 12.9% Operating margin: Target: 12% 49% Net debt / equity: Target: <80% 27.8% Net working capital: Target: 25% 17.6% Return on capital employed: Target: 16% 4 April, 2019

Continued sales growth in Asia, North America & Europe Organic growth in local currency Q4 2018 vs Q4 2017 Europe +1.5% North America +10.8% Asia/Pacific +8.1% Latin America 0% 4 April, 2019

New investment in automated Aerospace production SKF Aeroengine site in Valenciennes, France Fully automated production line Dedicated to the production of SAFRAN's LEAP engine components 4 April, 2019

Q4 results – the details Christian Johansson, CFO 2 Q4 results – the details Christian Johansson, CFO

Sales development 2017 2018 Q4 Q1 Q2 Q3 Organic +8.2 +7.5 +9.0 +6.9 Percent y-o-y Q4 Q1 Q2 Q3 Organic +8.2 +7.5 +9.0 +6.9 +5.0 Structure -0.6 -0.7 -0.1 -1.0 Currency -3.6 -1.9 +3.4 +7.8 +4.8 Net sales +4.0 +4.9 +11.8 +14.6 +8.8 4 April, 2019

Operating profit 4 April, 2019

Operating profit 4 April, 2019

Performance by customer group Industrial Net sales 15,214 M Organic sales +9% Operating margin 18.3%, (12.8) Automotive Net sales 5,978 M Organic sales -3.6% Operating margin 2.1%, (5.0) 4 April, 2019

13.7% Operating margin SKF Group – Q4 2018 Q4 18 Q4 17 2018 2017 Financial net -266 -233 -861 -934 Taxes -453 179 -2,603 -1,898 EPS 4.63 4.12 16.00 12.02 13.7% Operating margin 4 April, 20194 April, 20194 April, 2019

Cash flow after investments before financing* 4 April, 2019

Net working capital – finished goods inventories reduced in the quarter 4 April, 2019

Net debt/equity ratio continues to improve 4 April, 2019

Guidance for 2019* Q1 2019: Financial net: around -200 million Currency impact on the operating profit is expected to be positive by 140 million compared with 2018, based on exchange rates per 31 December, 2018. 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. 4 April, 2019

Summary – 2018 a record year for SKF 11,049 M Operating profit Organic growth of 7.1% Record-high sales and operating profit Strong cash flow Proposed dividend of SEK 6.00 Expect to see relatively unchanged volumes in Q1 12.9% Operating margin 8,326 M Cash flow 4 April, 2019

January 2019: SKF demand outlook Q1 2019 Demand compared to the first quarter 2018 The demand for SKF’s products and services is expected to be relatively unchanged for the Group, including slightly higher demand for Industrial and lower demand for Automotive. Demand is expected to be higher in North America, slightly higher in Asia, relatively unchanged in Latin America and slightly lower in Europe. 4 April, 2019

SKF Q4 results 2018 Q & A 4 April, 2019

Financial calendar Q4 report 29 January Roadshow Stockholm 30 January Roadshow US 4-6 February Carnegie Capital Goods Seminar 7 March Annual Report March 2019 BAML London Conference 20 March Annual General Meeting 28 March Q1 Report 25 April 4 April, 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”.

4 April, 2019