TRANSFORMING INTO AN EVEN STRONGER SKF

Investing in newbusinesses and future technologies

Transforming how we work

Transforming how we bring value tocustomers & how business is done

Transforming manufacturing

Transforming how we bring value to customers &how business is done

CleantechRecondOil

Electric VehiclesArtificial Intelligence

Investing in newbusinesses andfuturetechnologies

Hybrid bearings

Transforming manufacturing – World-class manufacturing

Increased investmentsConsolidation

Transforming how we work – A cultural change

New ways of working New collaborative set-up

Electrification is an opportunity

Sameamount ofbearings

Moreinnovativefeatures

More valuefor SKF

bearingsand seals

A more efficient SKF – A leaner and more flexible set-up

Short term: delivering on cost flexibility.Long-term: permanent cost reductions.

Transforming how webring value to

customers & howbusiness is done

Investing in newbusinesses and future

technologies

Transformingmanufacturing

Transforming how wework

Increased ambitions - Updated long term targets supported by our strategy

Revenue growth(2)

5%Operating margin(1)

14%

Net debt/equity(4)

<40%

Targets to be achieved over a business cycle.

1) Adjusted for Items Affecting Comparability (IAC).2) Including acquisitions, adjusted for divestments.3) Adjusted operating profit / Capital employed4) Excluding pension liabilities, including leasing liabilities from 2019.5) SKF scope 1 and 2 emissions6) Dividend/Net profit

Carbon Neutral by 2030(5)

zero

ROCE(3)

16%

Dividend pay-out ratio(6)

50%