===== SIDA 1 ===== Strong margin despite volatile market conditions Q1 2026 • Net sales MSEK 21,873 (23,966) • Organic growth of 2.4% (−3.5%), driven by organic sales growth within the Industrial segments, offset by negative market demand for the Automotive business. • Adjusted operating profit MSEK 2,951 (3,233). Strong positive price/mix contribution, stable cost devel - opment and continued significant currency headwinds. • Adjusted operating margin 13.5% (13.5%). • Operating profit MSEK 2,643 (2,885). This included items affecting comparability of MSEK –308 (−348). -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.tf /zero.tf /five.tf /one.tf/zero.tf /one.tf/five.tf /zero.tf /one.tf/zero.tf /two.tf/zero.tf /three.tf/zero.tf /four.tf/zero.tf /zero.tf /one.tf/zero.tf/zero.tf /two.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf /four.tf/zero.tf/zero.tf /five.tf/zero.tf/zero.tf /zero.tf,/zero.tf /four.tf,/five.tf /nine.tf,/zero.tf /one.tf/three.tf,/five.tf /one.tf/eight.tf,/zero.tf Decarbonized operations 5) (scope 1 and 2) -- Target 2030 –95% Long-term targets1) -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.tf /zero.tf /five.tf /one.tf/zero.tf /one.tf/five.tf /zero.tf /one.tf/zero.tf /two.tf/zero.tf /three.tf/zero.tf /four.tf/zero.tf /zero.tf /one.tf/zero.tf/zero.tf /two.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf /four.tf/zero.tf/zero.tf /five.tf/zero.tf/zero.tf /zero.tf,/zero.tf /four.tf,/five.tf /nine.tf,/zero.tf /one.tf/three.tf,/five.tf /one.tf/eight.tf,/zero.tf -- Target3) 14% Adjusted operating margin Q1 2024 Q1 2026 Q1 2025 -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.tf /zero.tf /five.tf /one.tf/zero.tf /one.tf/five.tf /zero.tf /one.tf/zero.tf /two.tf/zero.tf /three.tf/zero.tf /four.tf/zero.tf /zero.tf /one.tf/zero.tf/zero.tf /two.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf /four.tf/zero.tf/zero.tf /five.tf/zero.tf/zero.tf /zero.tf,/zero.tf /four.tf,/five.tf /nine.tf,/zero.tf /one.tf/three.tf,/five.tf /one.tf/eight.tf,/zero.tf -- Target3) <40% Net debt/Equity 4) Q1 2024 Q1 2026 Q1 2025 -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.tf /zero.tf /five.tf /one.tf/zero.tf /one.tf/five.tf /zero.tf /one.tf/zero.tf /two.tf/zero.tf /three.tf/zero.tf /four.tf/zero.tf /zero.tf /one.tf/zero.tf/zero.tf /two.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf /four.tf/zero.tf/zero.tf /five.tf/zero.tf/zero.tf /zero.tf,/zero.tf /four.tf,/five.tf /nine.tf,/zero.tf /one.tf/three.tf,/five.tf /one.tf/eight.tf,/zero.tf -- Target3) 5% Revenue growth 2) Q1 2024 Q1 2026 Q1 2025 -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.tf /zero.tf /five.tf /one.tf/zero.tf /one.tf/five.tf /zero.tf /one.tf/zero.tf /two.tf/zero.tf /three.tf/zero.tf /four.tf/zero.tf /zero.tf /one.tf/zero.tf/zero.tf /two.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf /four.tf/zero.tf/zero.tf /five.tf/zero.tf/zero.tf /zero.tf,/zero.tf /four.tf,/five.tf /nine.tf,/zero.tf /one.tf/three.tf,/five.tf /one.tf/eight.tf,/zero.tf -- Target3) 16% Adjusted ROCE Q1 2024 Q1 2026 Q1 2025 • Operating margin 12.1% (12.0%). • Net cash flow from operating activities MSEK –446 (977). Mainly driven by restructuring and separation costs and working capital build-up. • Basic earnings per share SEK 3.57 (3.95) and Adjusted earnings per share SEK 4.25 (4.71). • New segment reporting structure effective from Q1 2026, read more on page 9. 1) In addition to the targets presented above, SKF has a dividend pay-out ratio target of around 50% of the Group’s average net profit calculated over a business cycle. The outcome for 2025 was 83% and the five-year average was 59%. For more information, see SKF Annual Report 2025. 2) Sales excluding effects of currency and divested businesses. 3) Financial targets to be achieved over a business cycle. 4) Excluding pension liabilities. 5) CO2e emissions 2030 vs 2019. Latest figures are presented for the end of the previous quarter, 12 months rolling. Financial overview MSEK unless otherwise stated Q1 2026 Q1 2025 Net sales 21,873 23,966 Organic growth, % 2.4 −3.5 Adjusted operating profit 2,951 3,233 Adjusted operating margin, % 13.5 13.5 Operating profit 2,643 2,885 Operating margin, % 12.1 12.0 Adjusted net profit 2,047 2,296 Net profit 1,739 1,948 Net cash flow from operating activities −446 977 Basic earnings per share 3.57 3.95 Adjusted earnings per share 4.25 4.71 19 20 21 22 23 24 25 1 SKF Q1 2026 REPORT PUBLISHED 21 APRIL 2026 ===== SIDA 2 ===== In Q1, we delivered a strong margin despite volatile markets, significant currency headwind and a relatively weak Automotive demand. Our solid performance was due to strong port - folio management and continued cost actions, including rightsizing initiatives. At the same time, we continued to progress our strategic priorities. Strong margin driven by solid execution Organic sales growth in the quarter was 2.4%. Bearing Solutions reported positive organic growth, primarily driven by our regions in Asia that more than offset weaker activity levels in Europe. The continued strong organic growth within Specialized Industrial Solutions (SIS) was driven by Aerospace and Magnetic Solutions. This compensated for continued soft demand in Automotive, except for aftermarket products. Price/mix development was solid, mainly driven by tariff- related price increases and stronger after market performance in SIS and Automotive. The adjusted operating margin at 13.5% was flat, year-over- year, despite a significant currency headwind in the quarter. I am very pleased that we had a higher pace in our rightsizing activities than initially expected. The savings of approximately MSEK 300 compensated for negative separation synergies, where the net effect was slightly positive. For the full year 2026, we expect that rightsizing savings will continue to be somewhat higher than the negative synergies. Additionally, Automotive’s margin was solid as we started to see benefits from operating it as a separate and more efficient business. It was also positively impacted by pre-buy effects within the vehicle aftermarket business. Finally, the SIS margin continued to improve, mainly driven by strong growth and positive mix within Aerospace. CEO Statement Once again, we largely compensated for tariff costs in the quarter, and at current levels, we expect this to also be the case in Q2. Items affecting comparability (IAC) in Q1 amounted to MSEK –300, including a capital gain from the Elgin divestment. Cash flow from operations was weak at MSEK –446, mainly driven by restructuring and separation costs, working capital build-up due to separation-related safety stocks and high accounts receivable driven by strong sales towards the end of the quarter as well as timing effects in accounts payable. “ Focus on accelerating profitable growth and improving efficiency Continued strategy execution During the quarter, we continued to execute our strategic priorities, strengthening our position in high-value industrial segments and advancing the separation of our Automotive business. In the challenging market conditions, our Automotive busi - ness has a clear focus on accelerating profitable growth and improving efficiency. The value of new contracts signed over the past year has increased significantly compared to before the separation was announced, supporting future growth and profitability. Our competitive offering, mainly in higher-growth and higher-margin areas, such as electric vehicles and com - mercial vehicles, is one of the main contributors to the positive momentum. Our aftermarket position has further strengthened through new distribution agreements in key regions. As part of the ongoing Automotive separation, we recently announced the consolidation of our footprint in Americas to strengthen our long-term efficiency and competitiveness. Outlook We expect market demand in Q2 to remain at similar levels as in Q1 as a whole. Consequently, we expect organic sales to be relatively unchanged in Q2, year-over-year, against more demanding comparables. However, geopolitical turmoil, including the conflict in the Middle East, amplifies overall uncertainty. Rickard Gustafson President and CEO 2 SKF Q1 2026 REPORT ===== SIDA 3 ===== SKF Group Net sales Net sales amounted to MSEK 21,873 (23,966) and decreased by –8.7% compared to last year, whereof currency effects accounted for –9.9%. Organic sales were positive at 2.4%, where Bearing Solutions grew by 2.4%, Specialized Industrial Solutions grew by 8.7% driven mainly by continued positive price/mix, while Automotive declined by –2.1% due to continued soft market conditions. By geographic region, India and Southeast Asia grew by 9.5%, China and Northeast Asia grew by 4.5%, Americas grew by 4.0%, while Europe, Middle East and Africa declined by –1.1%. Impact from divested businesses was –1.2% on growth related to the divestment of the Aerospace business in Elgin, USA during Q1 this year and the divestment of the Aerospace business in Hanover, USA during Q2 last year. MSEK % Adjusted operating profit, MSEK Adjusted operating margin 12 months rolling, % 0 1,000 2,000 3,000 4,000 Q1 26Q4 25Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24 0 2 4 6 8 10 12 14 0 5,000 10,000 15,000 20,000 25,000 30,000 Q1 26Q4 25Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24 -10 -5 0 5 10 15 MSEK Net sales, MSEK % Organic growth, % Operating profit Operating profit was MSEK 2,643 (2,885). Operating profit included items affecting comparability of MSEK –308 (–348), whereof MSEK –464 (–145) related to the separation of the Automotive business, MSEK –81 related to the optimization of the Industrial footprint, MSEK –178 (–203) related to impair- ments of fixed assets and other items affecting comparability as well as MSEK 415 related to sale of the Aerospace business in Elgin, USA. The adjusted operating profit was MSEK 2,951 (3,233). The adjusted operating profit was positively impacted by strong price/mix contribution and over-production within Bearing Solutions ahead of planned transfer of production channels to Automotive. Costs were relatively flat compared to last year. This as savings, mainly driven from rightsizing activities of approximately MSEK 300 but also from footprint activities, as well as lower material costs almost offset wage inflation, tariff costs and negative separation synergies. Tariffs were largely compensated for by price increases and other mitigating activities. Adjusted operating profit was negatively impacted by continued significant currency headwind. Adjusted operating profit and Adjusted operating margin Net sales and Organic growth Sales and Adjusted operating profit bridge 1) MSEK Q1 2025 Organic 2) Cost development Currency impact Structure 3) Q1 2026 Net sales 23,966 584 −2,374 −303 21,873 Growth, % 2.4 −9.9 −1.2 −8.7 Adjusted operating profit 3,233 589 −17 −827 −27 2,951 Adjusted operating margin, % 13.5 13.5 Accretion/dilution, pp 2.1 –0.1 –2.1 0.1 1) Numbers are rounded. 2) Including production volumes. 3) Including acquisitions and divestments of businesses. Organic sales by region In local currencies, change y-o-y, % Q1 2026 Europe, Middle East and Africa −1.1 The Americas 4.0 China and Northeast Asia 4.5 India and Southeast Asia 9.5 3 SKF Q1 2026 REPORT ===== SIDA 4 ===== SKF Group cont. Financial net and tax Financial income and expenses, net was MSEK –276 (–290). Taxes were MSEK –628 (–647) resulting in an effective tax rate of 26.6% (24.9%). Net profit for the period Net profit for the quarter amounted to MSEK 1,739 (1,948), corresponding to SEK 3.57 (3.95) in earnings per share. Adjusted earnings per share amounted to 4.25 (4.71). Cash flow Net cash flow from operating activities in the first quarter amounted to –446 MSEK (977). Operating profit before depreciation, amortization and impairments was significantly lower in 2026 compared to 2025. Changes in working capital impacted negatively due to inventory build-up of separation related safety stocks, high accounts receivable driven by strong sales during the end of the quarter and decrease in accounts payable due to timing. Cash flow impact from items affecting comparability during the first quarter is estimated to be approximately MSEK –700. Net capital expenditure amounted to MSEK –772 (–916). Investing activities also included cash inflow of MSEK 302 from sale of property and MSEK 511 from sale of the Aerospace business in Elgin, USA, in the first quarter. Financial position Net working capital in percentage of annual sales was 34.6% in March 2026 compared to 30.4% in March 2025 driven by higher levels of inventory and accounts receivable as a percentage of annual sales. As of 31 March 2026, SKF had a net debt of MSEK 12,584 compared to MSEK 12,052 as of 1 January 2026. The increase in net debt was mainly related to cash outflow from operations, partly offset by cash inflow from sale of businesses. Provisions for post-employment benefits, net decreased by MSEK –107 (–569) in the first quarter, mainly driven by actuarial gains due to increased discount rates. 0 5,000 10,000 15,000 20,000 Q1 26Q4 25Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24 0 0.4 0.8 1.2 1.6 MSEK Net debt Ratio Net debt/Adjusted EBITDA 0 3,000 6,000 9,000 12,000 15,000 Q1 26Q4 25Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24 MSEK 1) 12 months rolling 0 10,000 20,000 30,000 40,000 Q1 26Q4 25Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24 0 10 20 30 40 MSEK % Net working capital Net working capital 12 months rolling sales, % Net debt and Net debt/Adjusted EBITDA Net cash flow from operating activities 1) Net working capital Key figures 31 March 2026 31 Dec 2025 31 March 2025 Net working capital 12 months rolling sales, % 34.6 30.4 30.4 Adjusted ROCE, % 14.4 14.3 14.0 Net debt/equity, % 21.3 21.6 25.2 Net debt/equity, excluding post-employment benefits, % 10.7 10.2 13.1 Net debt/EBITDA 1.1 1.0 1.0 Net debt/Adjusted EBITDA 0.8 0.8 0.9 Operating cash flow MSEK Q1 2026 Q1 2025 EBITDA 3,603 4,143 Taxes paid −580 −602 Non-cash items and other −1,175 −735 Changes in net working capital −2,294 −1,829 Net cash flow from operating activities −446 977 Payments for property, plant and equipment −772 −916 Other investing activities, net 813 313 Operating cash flow after investments −405 374 4 SKF Q1 2026 REPORT ===== SIDA 5 ===== From a customer industry perspective, industrial distribution contributed positively within aftermarket and service. Industrial mobility and defence was strong in the quarter, mainly driven by the positive contribution within the Aerospace business. Also, high-speed machinery and electrical, driven by heating and cooling, as well as sustainable food supply, especially in agriculture, delivered strong organic growth in several regions. Market conditions continued to be challenging for the automotive market in general with low market demand for both commercial vehicles and light vehicles, especially driven by weakness in the Americas and Europe. Vehicle aftermarket grew in the quarter where solid development in Europe and the Americas was also supported by strong development in India and Southeast Asia. Markets Organic sales by customer industry 1) Share of net sales by industry,% Europe, Middle East and Africa The Americas China and Northeast Asia India and Southeast Asia Share of net sales by region, % 44 28 18 10 Aftermarket and service 38 -- +/- +++ +/- Industrial mobility and defence 11 ++ +++ +++ --- High-speed machinery and electrical 6 +++ +++ -- +++ Heavy industries 2 +++ + --- +++ Sustainable food supply 3 +++ ++ ++ +++ Advanced technology 2 -- + --- -- Other industrial 13 + +++ --- +++ Light vehicles 12 --- +/- --- +++ Vehicle aftermarket 9 + ++ -- +++ Commercial vehicles 4 -- --- +++ +/- Total +/- + ++ +++ 1) For the quarter, in local currencies, changes year-over-year. 5 SKF Q1 2026 REPORT ===== SIDA 6 ===== 0 2,500 5,000 7,500 10,000 12,500 15,000 Q1 26Q4 25Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24 MSEK % Net sales, MSEK Adjusted operating margin, % Adjusted operating margin 12 months rolling, % 0 5 10 15 20 25 30 % Bearing Solutions Net sales Bearing Solutions reported net sales of MSEK 11,868 (12,884). Organic growth was 2.4%, driven by both volumes and price/ mix. Currency effects impacted net sales negatively by –10.3%. All geographical regions contributed with positive organic growth except for Europe, Middle East and Africa where organic sales declined compared to last year. Adjusted operating profit The adjusted operating profit for the first quarter was MSEK 2,287 (2,499), with a corresponding adjusted operating margin of 19.3% (19.4%). Price/mix as well as over-production ahead of planned transfer of production channels to Automotive contributed positively while cost development was negative compared to last year. Wage inflation, tariff costs and negative separation synergies were partly offset by savings from right - sizing and footprint activities. Furthermore, currency effects had a significant negative impact on adjusted operating profit. Key financials MSEK Q1 2026 Q1 2025 Net sales 11,868 12,884 Organic growth, % 2.4 −4.8 Adjusted operating profit 2,287 2,499 Adjusted operating margin, % 19.3 19.4 Operating profit 2,056 2,378 Operating margin, % 17.3 18.5 Sales and Adjusted operating profit bridge 1) MSEK Q1 2025 Organic 2) Cost development Currency impact Structure 3) Q1 2026 Net sales 12,884 303 −1,319 11,868 Growth, % 2.4 −10.3 0.0 −7.9 Adjusted operating profit 2,499 376 −135 −453 2,287 Adjusted operating margin, %  19.4  19.3 Accretion/dilution, pp 2.5 –1.0 –1.5 0.0 1) Numbers are rounded. 2) Including production volumes. 3) Including acquisitions and divestments of businesses. Organic sales by region In local currencies, change y-o-y, % Q1 2026 Europe, Middle East and Africa - The Americas + China and Northeast Asia ++ India and Southeast Asia +++ Net sales and Adjusted operating margin Share of Group net sales54% 77%54% Share of Group adjusted operating profit54% 77%54% 6 SKF Q1 2026 REPORT ===== SIDA 7 ===== Specialized Industrial Solutions Net sales Specialized Industrial Solutions reported net sales of MSEK 4,450 (4,787). Organic growth was 8.7%, mainly driven by price/mix, higher volumes also contributed. Currency effects impacted net sales negatively by –9.4%. All business units, and in particular Aerospace and Magnetic Solutions, contributed with positive organic growth compared to last year. Adjusted operating profit The adjusted operating profit for the first quarter was MSEK 594 (577), with a corresponding adjusted operating margin of 13.3% (12.1%). The margin increase was primarily driven by strong price/mix execution. Structural pruning and portfolio optimization initiatives over the past year contributed as well as growth within aftermarket. There was also positive mix driven by strong growth in the business units Aerospace and Magnetic Solutions. Cost development was negative as savings from rightsizing activities only partly compensated for wage inflation, tariff costs and negative separation synergies. Furthermore, currency effects had a significant negative impact on adjusted operating profit. Key financials MSEK Q1 2026 Q1 2025 Net sales 4,450 4,787 Organic growth, % 8.7 −0.6 Adjusted operating profit 594 577 Adjusted operating margin, % 13.3 12.1 Operating profit 997 546 Operating margin, % 22.4 11.4 Sales and Adjusted operating profit bridge 1) MSEK Q1 2025 Organic 2) Cost development Currency impact Structure 3) Q1 2026 Net sales 4,787 415 −449 −303 4,450 Growth, % 8.7 −9.4 −6.3 −7.0 Adjusted operating profit 577 317 −113 −160 −27 594 Adjusted operating margin, % 12.1 13.3 Accretion/dilution, pp 5.6 –2.4 –2.2 0.2 1) Numbers are rounded. 2) Including production volumes. 3) Including acquisitions and divestments of businesses. Related to the divestment of the Aerospace business in Elgin, USA during Q1 this year and the divestment of the Aerospace business in Hanover, USA during Q2 last year. Organic sales by business unit In local currencies, change y-o-y, % Q1 2026 Aerospace +++ Magnetic Solutions +++ Lubrication Lifetime Solutions + Sealing Solutions + Net sales and Adjusted operating margin 0 1,000 2,000 3,000 4,000 5,000 Q1 26Q4 25Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24 MSEK Net sales, MSEK Adjusted operating margin, % 0 3 6 9 12 15 % Adjusted operating margin 12 months rolling, % Share of Group net sales20% 20% Share of Group adjusted operating profit20% 20% 7 SKF Q1 2026 REPORT ===== SIDA 8 ===== Automotive Net sales Automotive reported net sales of MSEK 5,857 (6,569). Currency effects impacted net sales negatively by –9.7%. The organic sales decline of –2.1% was driven by a continued weak market demand environment. Market conditions contin - ued to be challenging in Europe. The negative growth in China was due to a strong Q1 last year. Adjusted operating profit The adjusted operating profit for the first quarter was MSEK 292 (410), with a corresponding adjusted operating margin of 5.0% (6.2%). The decline year-over-year was mainly driven by significant currency effects and under-absorption of fixed costs due to lower production volumes. Cost development was positive compared to last year, mainly driven by lower material costs and operational benefits from operating as a separate and more efficient business. This compensated for wage inflation and tariffs. Key financials MSEK Q1 2026 Q1 2025 Net sales 5,857 6,569 Organic growth, % −2.1 −2.8 Adjusted operating profit 292 410 Adjusted operating margin, % 5.0 6.2 Operating profit −78 259 Operating margin, % −1.3 3.9 Sales and Adjusted operating profit bridge 1) MSEK Q1 2025 Organic 2) Cost development Currency impact Structure 3) Q1 2026 Net sales 6,569 −104 −608 5,857 Growth, % −2.1 −9.7 0.0 −11.8 Adjusted operating profit 410 −104 201 −215 292 Adjusted operating margin, % 6.2 5.0 Accretion/dilution, pp –1.5 3.1 –2.7 0.0 1) Numbers are rounded. 2) Including production volumes. Internal trading is included in Net sales, Adjusted operating profit and Accretion/dilution. 3) Including acquisitions and divestments of businesses. Organic sales by region In local currencies, change y-o-y, % Q1 2026 Europe, Middle East and Africa -- The Americas + China and Northeast Asia - India and Southeast Asia +/- Net sales and Adjusted operating margin 0 2,000 4,000 6,000 8,000 Q1 26Q4 25Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24 MSEK Net sales, MSEK Adjusted operating margin, % 0 2 4 6 8 % Adjusted operating margin 12 months rolling, % Share of Group net sales26% 3% Share of Group adjusted operating profit26% 10% 8 SKF Q1 2026 REPORT ===== SIDA 9 ===== New business segments The new segment reporting structure, which became effective from Q1 2026, reflects the Group’s strategic focus and provides increased transparency ahead of the planned separation of the Automotive business. New segment structure Under the new structure, SKF will report three business segments including two industrial segments – Bearing Solutions and Specialized Industrial Solutions (SIS) – and one Automotive segment. SIS includes, as previously communicated, the stand-alone and strategic core businesses Aerospace, Lubrication Lifetime Solutions, Sealing Solutions, and Magnetic Solutions. In addition to the three business segments, corporate head office costs as well as internal sales between the Industrial segments and the Automotive segment are reported under “Other”. Previously, these costs and transactions were included in the business segments. From 2026, Automotive carries their own central costs, which are reported in the Automotive segment. Restated figures reflecting changes in financial reporting and business transfers The figures for 2024 and 2025 have been restated to enable comparability and to illustrate how the new segment reporting structure would have looked historically. The restated financial information has not been audited. As part of the new reporting structure, SKF’s sealing business for automotive applications is transferred from the Automotive segment to SIS, since this business is part of the Seals operations. As a consequence, sales for the Automotive segment in 2025 decreased with BSEK 2.4 (2.6). Other Group information Significant events during the quarter 30 January 2026 – Nomination Committee’s proposal for Board of Directors of AB SKF SKF’s Nomination Committee proposes that the Board of Directors shall consist of twelve members. New election is proposed of Karen Florschütz and Maximiliane Straub and re-election is proposed of Hans Stråberg, Håkan Buskhe, Mats Rahmström, Hock Goh, Geert Follens, Rickard Gustafson, Beth Ferreira, Therese Friberg, Richard Nilsson and Niko Pakalén. Hans Stråberg is proposed to be elected Chair of the Board of Directors. 30 January 2026 – Divestment completed SKF has completed the previously announced divestment of its precision elastomeric device operation in Elgin, Illinois, USA. 26 February 2026 – SKF Vertevo It was announced that the name of the Automotive business as a stand-alone company will be SKF Vertevo. 9 March 2026 – Acquisition to strengthen the Condition Monitoring portfolio SKF has signed an agreement to acquire G-Tech Instruments Inc., a leading specialist within condition monitoring and measuring instruments technology. G-Tech is a supplier to SKF and reported sales of approximately MUSD 10 in 2025 with a strong margin. The acquisition is expected to be completed within six months. 16 March 2026 – New business segments and restated figures SKF has introduced a new segment reporting structure, effective from Q1 2026 and also published restated financial information for the new segments for 2024 and 2025. Significant events after the quarter 7 April 2026 – Consolidates manufacturing footprint in Americas SKF consolidates its manufacturing footprint in Americas to strengthen the long-term efficiency and competitiveness. The factory in Monterrey, Mexico, will be closed and manufacturing capacity will be relocated to Puebla and La Silla, Mexico. More information on www.skf.com/group/investors 9 SKF Q1 2026 REPORT ===== SIDA 10 ===== SKF has a longstanding track record on understanding and reducing its environmental and climate impact and started already in 2000 to set targets and report on carbon dioxide emissions. In 2020, the target of decarbonizing own operations by 2030 was launched and in 2021 SKF’s target of net-zero greenhouse gas emissions for the full value chain by 2050 was set. Both targets have been approved by the Science Based Targets Initiative. The four strategic levers to decarbonize manufacturing operations by 2030 are energy and operational efficiency improvements, as well as switching to renewable energy sources and electrification of fossil fuel applications. This covers both scope 1 direct emissions as well as scope 2 indirect emissions. During the last quarter (Q4) reported, the total scope 1 and 2 emissions were further reduced, well ahead of the target trajectory. Scope 1 emissions are stable, while the increase of renewable electricity continues to contribute to further scope 2 reductions. For the full year, the most significant additions of renewable electricity include India, China, Bulgaria and Malaysia. In addition, energy efficiency has continued to improve. The impact on emissions associated with energy consumption from production variations was small, with main developments being related to increased sourcing of renewable electricity. Decarbonized operations (scope 1 and 2) 1) CO 2 e target, 2030 vs 2019 –95% Thousand tonnes CO 2 e Equivalent energy GWh 0 100 200 300 400 500 203020292028202720262025202420232022202120202019 0 500 1,000 1,500 2,000 Actual full year, thousand tonnes CO 2 e Total energy consumption, GWh SBTi trajectory, thousand tonnes CO 2 e 1) Latest figures are presented for the end of the previous quarter, 12 months rolling. Sustainability is an integral part of SKF’s strategy and is a priority for long-term profitable growth. Around 20% of all energy produced globally is used to overcome friction. By creating more efficient and durable solutions for industries, significantly cutting emissions by 2030 and achieving net-zero greenhouse gas emissions in the supply chain by 2050, SKF is pioneering sustainability in its sphere. Further reporting of all material sustainability topics are found in the Annual Report, including for example accident rates, disclosures for own workforce and workers in the value chain. More information on www.skf.com/sustainability Decarbonized operations 2030Outlook and guidance Outlook • Q2 2026: We expect market demand to remain at similar levels as in Q1 as a whole. Consequently, we expect organic sales to be relatively unchanged year-over-year, against more demanding comparables. However, geopolitical turmoil, including the conflict in the Middle East, amplifies overall uncertainty. Guidance Q2 2026 • Currency impact on the operating profit: around MSEK –100, year-over-year, based on exchange rates as per 31 March 2026. Guidance FY 2026 • Tax level excluding effects related to divested businesses and separation of the Automotive business: around 28%. • Additions to property, plant and equipment: around BSEK 5. • Items affecting comparability related to the Automotive separation and footprint optimization: BSEK –2.5 to –3. This is within the frame communicated at CMD 2025. Previous outlook and guidance statement Outlook • Q1 2026: We expect market demand to remain at similar levels as in Q4. Consequently, we expect organic sales to strengthen somewhat year-over-year, supported by more favourable comparables. Guidance Q1 2026 • Currency impact on the operating profit: around MSEK –800, year-over-year, based on exchange rates as per 31 December 2025. Guidance FY 2026 • Tax level excluding effects related to divested businesses and separation of the Automotive business: around 28%. • Additions to property, plant and equipment: around BSEK 5. • Items affecting comparability related to the Automotive separation and footprint optimization: BSEK –2.5 to –3. This is within the frame communicated at CMD 2025. 10 SKF Q1 2026 REPORT ===== SIDA 11 ===== MSEK Jan-Mar 2026 Jan-Mar 2025 Net sales 21,873 23,966 Cost of goods sold −15,460 −16,830 Gross profit 6,413 7,136 Research and development expenses −759 −849 Selling and administrative expenses −3,238 −3,448 Other operating income/expenses, net 227 46 Operating profit 2,643 2,885 Financial net −276 −290 Profit before taxes 2,367 2,595 Income taxes −628 −647 Net profit 1,739 1,948 Net profit attributable to: Shareholders of AB SKF 1,627 1,796 Non-controlling interests 112 152 Basic earnings per share (SEK)1) 3.57 3.95 1) Shares from the Performance Share Programme are not considered dilutive, therefore, diluted earnings per share is equal to basic earnings per share. MSEK Jan-Mar 2026 Jan-Mar 2025 Net profit 1,739 1,948 Items that will not be reclassified to the income statement: Remeasurements (actuarial gains and losses) 143 189 Assets at fair value through other comprehensive income 0 −309 Income taxes −58 −39 85 −159 Items that may be reclassified to the income statement: Exchange differences arising on translation of foreign operations 1,677 −4,641 1,677 −4,641 Other comprehensive income, net of tax 1,762 −4,800 Total comprehensive income 3,501 –2,852 Shareholders of AB SKF 3,377 −2,794 Non-controlling interests 124 −58 Condensed consolidated income statements Financial statements – SKF Group Condensed consolidated statements of comprehensive income 11 SKF Q1 2026 REPORT ===== SIDA 12 ===== MSEK March 2026 December 2025 March 2025 Goodwill 11,259 10,925 11,574 Other intangible assets 3,504 3,487 4,169 Property, plant and equipment 28,436 27,785 28,152 Right-of-use asset leases 2,908 2,900 3,211 Deferred tax assets 4,422 4,095 3,436 Other non-current assets 3,265 2,693 2,488 Non-current assets 53,794 51,885 53,030 Inventories 25,100 23,677 24,845 Trade receivables 16,841 15,408 16,761 Other current assets 6,625 5,780 5,756 Other current financial assets 9,000 9,466 11,143 Current assets 57,566 54,331 58,505 Assets classified as held for sale — 206 1,654 Total assets 111,360 106,422 113,189 Equity attributable to shareholders of AB SKF 56,938 53,558 56,898 Equity attributable to non-controlling interests 2,235 2,110 2,262 Long-term financial liabilities 13,408 14,168 14,397 Provisions for post-employment benefits 7,123 7,004 7,917 Provisions for deferred taxes 2,105 1,955 1,800 Other long-term liabilities and provisions 1,993 1,870 1,209 Non-current liabilities 24,629 24,997 25,323 Trade payables 10,954 11,207 11,783 Short-term financial liabilities 2,096 1,172 4,943 Other short-term liabilities and provisions 14,508 13,362 11,857 Current liabilities 27,558 25,741 28,583 Liabilities classified as held for sale — 16 123 Total equity and liabilities 111,360 106,422 113,189 MSEK Jan-Mar 2026 Jan-Mar 2025 Opening balance 1 January 55,670 61,969 Net profit 1,738 1,948 Hyperinflation adjustments 23 41 Components of other comprehensive income Currency translation adjustments 1,677 –4,641 Change in FV OCI assets and cash flow hedges 0 –309 Remeasurements 143 189 Income taxes –58 –39 Transactions with shareholders Non-controlling interest — 32 Cost for Performance Share Programmes, net –21 –30 Other 1 — Closing balance 31 March 59,173 59,160 Condensed consolidated balance sheets Condensed consolidated statements of changes in shareholders’ equity 12 SKF Q1 2026 REPORT ===== SIDA 13 ===== MSEK Jan-Mar 2026 Jan-Mar 2025 Operating activities: Operating profit 2,643 2,885 Non-cash items: Depreciation, amortization and impairment 960 1,258 Net loss/gain (—) on sales of PPE and businesses −348 −263 Other non-cash items −130 89 Income taxes paid −580 −602 Interest received 12 46 Interest paid −77 −146 Other −632 −461 Changes in working capital: −2,294 −1,829 Inventories −782 −589 Accounts receivable −1,026 −1,415 Accounts payable −528 36 Other operating assets/liabilities 42 139 Net cash flow from operating activities −446 977 Investing activities: Payments for property, plant and equipment −772 −916 Payments for intangible assets and businesses 0 −1 Sales of property, plant and equipment 302 314 Sales of business net of cash and taxes 511 0 Net cash flow used in investing activities 41 −603 Net cash flow after investments before financing −405 374 MSEK Jan-Mar 2026 Jan-Mar 2025 Financing activities: Proceeds from short- and long-term loans 3 53 Repayments of short- and long-term loans –121 –41 Repayment leases –199 –233 Investments in financial assets –41 –107 Sales of financial assets 39 14 Net cash flow used in financing activities –319 –314 Net cash flow –724 60 Change in cash and cash equivalents: Cash and cash equivalents at 1 January 8,984 11,031 Cash effect excl. acquired/sold businesses –1,235 60 Cash effect of acquired/sold businesses 511 — Exchange rate effect 127 –398 Cash and cash equivalents at 31 March 8,387 10,693 Change in Net debt Closing balance 31 March 2026 Other non- cash changes Acquired/ sold businesses Cash changes Exchange rate effect Opening balance 1 January 2026 Loans, long- and short-term 12,115 −4 — −118 148 12,089 Post-employment benefits, net 6,265 130 — −330 93 6,372 Lease liabilities 2,906 126 — −199 84 2,895 Financial assets, other −315 3 — 15 −13 −320 Cash and cash equivalents −8,387 — −511 1,235 −127 −8,984 Net debt 12,584 255 −511 603 185 12,052 Condensed consolidated statements of cash flow 13 SKF Q1 2026 REPORT ===== SIDA 14 ===== MSEK unless otherwise stated Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Net sales 25,606 23,692 24,725 23,966 23,166 22,482 21 969 21,873 Cost of goods sold −18,736 −17,145 −17,864 −16,830 −17,524 −16,389 −16,315 −15,460 Gross profit 6,870 6,547 6,861 7,136 5,642 6,093 5,654 6,413 Gross margin, % 26.8 27.6 27.8 29.8 24.4 27.1 25.7 29.3 Research and development expenses −870 −782 −848 −849 −910 −820 −830 −759 Selling and administrative expenses −3,411 −3,225 −3,494 −3,448 −3,926 −3,089 −3,155 −3,238 as % of sales 13.3 13.6 14.1 14.4 16.9 13.7 14.4 14.8 Other operating income/expenses, net −100 −14 −188 46 494 −177 −106 227 Operating profit 2,489 2,526 2,331 2,885 1,300 2,007 1,563 2,643 Operating margin, % 9.7 10.7 9.4 12.0 5.6 8.9 7.1 12.1 Adjusted operating profit 3,324 2,821 2,735 3,233 3,090 2,762 2,588 2,951 Adjusted operating margin, % 13.0 11.9 11.1 13.5 13.3 12.3 11.8 13.5 Financial net −377 −285 −317 −290 −441 −320 −279 −276 Profit before taxes 2,112 2,241 2,014 2,595 859 1,687 1,284 2,367 Profit margin before taxes, % 8.2 9.5 8.1 10.8 3.7 7.5 5.8 10.8 Income taxes −449 −610 −423 −647 −276 −560 −693 −628 Net profit 1,663 1,631 1,591 1,948 583 1,127 591 1,739 Net profit attributable to: Shareholders of AB SKF 1,529 1,550 1,507 1,796 516 1,047 568 1,627 Non-controlling interests 134 81 84 152 67 80 23 112 Condensed consolidated financial information Share data Jan-Mar 2026 Jan-Mar 2025 Total number of shares:  455,351,068   455,351,068  whereof A shares  28,918,320   28,930,844  whereof B shares  426,432,748   426,420,224  Basic earnings per share (SEK)1) 3.57 3.95 Diluted earnings per share (SEK)2) 3.57 3.95 Weighted average number of shares, basic  455,351,068   455,351,068  Weighted average number of shares, diluted 455,351,068 455,351,068 1) Basic earnings per share is calculated as net profit (excl. non-controlling interests) divided by the weighted average number of shares. 2) Shares from the Performance Share Programme are not considered dilutive, therefore, diluted earnings per share is equal to basic earnings per share. 14 SKF Q1 2026 REPORT ===== SIDA 15 ===== Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Net sales, MSEK 25,606 23,692 24,725 23,966 23,166 22,482 21,969 21,873 Organic growth, % −6.6 −4.4 −3.1 −3.5 −0.2 2.0 0.0 2.4 Adjusted EBITDA, MSEK 4,326 3,831 3,833 4,298 4,088 3,763 3,600 3,894 Adjusted EBITDA margin, % 16.9 16.2 15.5 17.9 17.6 16.7 16.4 17.8 Adjusted operating profit, MSEK 3,324 2,821 2,735 3,233 3,090 2,762 2,588 2,951 Adjusted operating margin, % 13.0 11.9 11.1 13.5 13.3 12.3 11.8 13.5 Items affecting comparability, MSEK −835 −295 −405 −348 −1,790 −755 −1,026 −308 Operating profit 2,489 2,526 2,331 2,885 1,300 2,007 1,563 2,643 Operating margin, % 9.7 10.7 9.4 12.0 5.6 8.9 7.1 12.1 Adjusted earnings per share, SEK 5.19 4.05 4.20 4.71 5.06 3.96 3.50 4.25 Basic earnings per share, SEK 3.36 3.40 3.31 3.95 1.13 2.30 1.25 3.57 Dividend per share, SEK 7.50 — — — 7.75 — — — Share price at the end of the period, SEK 212.8 202.0 207.6 202.2 217.1 233.2 245.8 224.2 Net working capital 12 months rolling sales, % 31.9 31.5 30.6 30.4 31.6 32.0 30.4 34.6 Adjusted ROCE, % 14.7 14.6 14.2 14.0 13.9 14.0 14.3 14.4 ROCE, % 11.9 11.9 12.1 11.9 10.7 10.2 9.6 9.6 ROE, % 10.6 10.4 11.7 11.5 9.7 9.0 7.4 7.2 Gearing, % 32.2 32.1 30.9 30.5 32.5 28.6 27.7 26.5 Equity/assets ratio, % 50.9 50.9 51.9 52.3 49.7 52.4 52.3 53.1 Additions to property, plant and equipment, MSEK 1,305 1,420 1,364 916 930 964 1,011 772 Net debt/equity, % 32.8 30.0 26.6 25.2 28.0 25.9 21.6 21.3 Net debt/equity, excluding post-employment benefits, % 18.6 16.2 14.1 13.1 14.4 13.3 10.2 10.7 Net debt, MSEK 18,937 17,291 16,472 14,933 15,491 14,515 12,052 12,584 Net debt/EBITDA 1.3 1.2 1.1 1.0 1.1 1.1 1.0 1.1 Net debt/Adjusted EBITDA 1.1 1.0 1.0 0.9 1.0 0.9 0.8 0.8 Registered number of employees 39,589 39,198 38,743 38,426 38,008 37,842 37,271 36,927 Definitions, see page 21. SKF applies the guidelines issued by ESMA (European Securities and Markets Authority) on APMs (Alternative Performance Measures). These key figures are not defined or specified in IFRS but provide complementary information to investors and other stakeholders on the company’s performance. The definition of each APM is presented at the end of the interim report. For the reconciliation of each APM against the most reconcilable line item in the financial statements, see www.skf.com/group/investors . Key figures 15 SKF Q1 2026 REPORT ===== SIDA 16 ===== Reporting by segments Bearing Solutions Specialized Industrial Solutions Automotive Other 1) Group MSEK unless otherwise stated Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Sales, external 11,868 12,884 4,450 4,787 5,555 6,295 21,873 23,966 Sales, internal 302 274 −302 −274 Sales 11,868 12,884 4,450 4,787 5,857 6,569 −302 −274 21,873 23,966 Organic growth, % 2.4 −4.8 8.7 −0.6 −2.1 −2.8 2.4 −3.5 Currency impact, % −10.3 0.2 −9.4 1.1 −9.7 −1.1 −9.9 Structure, % −6.3 2.5 −1.2 0.5 Adjusted operating profit 2,287 2,499 594 577 292 410 −222 −254 2,951 3,233 Adjusted operating margin, % 19.3 19.4 13.3 12.1 5.0 6.2 13.5 13.5 Items affecting comparability −231 −121 403 −31 −370 −151 −110 −44 −308 −348 Operating profit 2,056 2,378 997 546 −78 259 −332 −298 2,643 2,885 Operating profit margin, % 17.3 18.5 22.4 11.4 −1.3 3.4 12.1 12.0 Financial net −276 −290 Profit before taxes 2,367 2,595 1) Corporate head office costs, internal sales to Automotive, which will be reported at external sales as from point of separation, as well as elimination of internal transactions. 16 SKF Q1 2026 REPORT ===== SIDA 17 ===== Bearing Solutions MSEK unless otherwise stated Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Net sales  13,958   12,805   13,553   12,884   12,767   12,227   12,136  11,868 Organic growth, %          –4.8   1.0   2.7   0.8  2.4 Adjusted operating profit  2,532   2,210   2,333   2,499   2,570   2,290   2,245  2,287 Adjusted operating margin, %  18.1   17.3   17.2   19.4   20.1   18.7   18.5  19.3 Items affecting comparability –643  –163  –217  –121  –1,231  –280  –530  −231 Operating profit  1,889   2,047   2,116   2,378   1,339   2,010   1,715  2,056 Operating margin, %  13.5   16.0   15.6   18.5   10.5   16.4   14.1  17.3 Adjusted EBITDA  3,047   2,745   2,923   3,048   3,092   2,813   2,774   2,809  Adjusted EBITDA margin, %  21.8   21.4   21.6   23.7   24.2   23.0   22.9   23.7  Assets and liabilities, net  36,260   34,855   36,291   34,333   33,363   33,421   32,458   33,672  Registered number of employees  21,160   20,818   20,470   19,920   19,642   19,528   19,255   18,887  Specialized Industrial Solutions MSEK unless otherwise stated Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Net sales  4,684   4,356   4,601   4,787   4,491   4,335   4,358  4,450 Organic growth, %    –0.6   5.5   6.8   6.2  8.7 Adjusted operating profit  484   428   403   577   462   504   474  594 Adjusted operating margin, %  10.3   9.8   8.8   12.1   10.3   11.6   10.9  13.3 Items affecting comparability –105  –72  –23  –31   532  –82  –24  403 Operating profit  379   356   380   546   994   422   450  997 Operating margin, %  8.1   8.2   8.3   11.4   22.1   9.7   10.3  22.4 Adjusted EBITDA  712   659   643   817   674   716   691   758  Adjusted EBITDA margin, %  15.2   15.1   14.0   17.1   15.0   16.5   15.9   17.0  Assets and liabilities, net  20,485   20,137   20,600   19,375   18,713   18,643   18,310   19,198  Registered number of employees  8,344   8,276   8,293   8,284   8,096   8,182   8,142   8,053  1) Previously published figures for 2024 and 2025 have been restated to reflect the new segment reporting structure. Segment information – quarterly figures1) 17 SKF Q1 2026 REPORT ===== SIDA 18 ===== Automotive MSEK unless otherwise stated Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Net sales  7,244   6,809   6,833   6,569   6,182   6,178   5,701  5,857 Organic growth, % –2.8  –6.4  –2.5  –6.1  −2.1 Adjusted operating profit  527   389   187   410   329   208   80  292 Adjusted operating margin, %  7.3   5.7   2.7   6.2   5.3   3.4   1.4  5.0 Items affecting comparability –68  –53  –128  –151  –595  –367  –447  −370 Operating profit  459   336   59   259  -266  -159  -367  −78 Operating margin, %  6.3   4.9   0.9   3.9  –4.3  –2.6  –6.4  −1.3 Adjusted EBITDA  713   556   375   601   508   388   260   468  Adjusted EBITDA margin, %  9.8   8.2   5.5   9.1   8.2   6.3   4.6  8.0 Assets and liabilities, net  14,759   14,348   14,739   14,031   13,164   12,966   11,644   13,185  Registered number of employees  7,714   7,699   7,581   7,592   7,597   7,472   7,204   7,565  1) Previously published figures for 2024 and 2025 have been restated to reflect the new segment reporting structure. Segment information – quarterly figures1) 18 SKF Q1 2026 REPORT ===== SIDA 19 ===== Notes NOTE 1 Accounting principles The consolidated financial statements of the SKF Group were prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU. The interim report was prepared in accordance with IAS 34 Interim Financial Reporting. Disclosures as required by IAS 34 p. 16 A are provided in the notes to the financial statements as well as in other parts of the interim report. The financial statements of the Parent Company were prepared in accordance with the “Annual Accounts Act” and the RFR 2 “Accounting for legal entities”. SKF Group and the Parent Company applied the same accounting principles and methods of computation in the interim financial statements as compared with the latest annual report. IASB issued several amended accounting standards that were endorsed by EU, effective date 1 January 2025. None of these have a material effect on the SKF Group’s financial statements. Pillar II income taxes legislation was effective from 1 January 2024. Under the legislation, the Parent Company will be required to pay top-up tax on profit of its subsidiaries that are taxed at an effective tax rate of less than 15%. No top-up tax has been included in the financial statements for the first quarter 2026. SKF Group has analyzed the financial figures and concluded that the Group is not expecting any additional material top-up tax during 2026. The Group will continue to assess the impact of Pillar II income taxes legis lation on its future financial performance. Valuation principles and classifications of the financial instruments, as described in SKF Annual Report 2025, have been consistently applied throughout the reporting period. There are no major changes in fair value during the period. NOTE 2 Transactions with related parties No significant change is present for transactions with related parties in relation to disclosure provided in Annual Report 2025. NOTE 3 Risks and uncertainties in the business SKF operates in many different industries and geographical areas. As a result, the Group is exposed to various types of risks. SKF appreciates that there are risks associated with the macro environment such as the geopolitical landscape, the state of global markets and significant industry and techno - logical shifts. There are also business risks including supply chain disruptions, information and cybersecurity threats, and challenges in attracting talent in a competitive labour market. Additionally, there are legal and compliance risks arising from the increased regulatory demands and internal governance and coordination within the Group as well as ongoing regula - tory investigations and processes. The SKF Group’s operations are also exposed to various types of financial risks; market risks (being currency risk, interest rate risk and other price risks), liquidity risks and credit risks. Further information on the risks and how SKF works to mitigate them is found in SKF’s latest Annual Report, available on www.skf.com/group/investors . The financial position of the Parent Company is dependent on the financial position and development of the subsidiaries. A general decline in the demand for the products and services provided by the Group could mean lower residual profits and lower dividend income for the Parent Company, as well as a need for writing down values of the shares in the subsidiaries. NOTE 4 Divestment of business In January, SKF completed the previously announced divest - ment of its precision elastomeric device operation in Elgin, Illinois, USA. The divestment within the Aerospace business resulted in a total cash inflow of MSEK 691 whereof MSEK 180 is outstanding to be received during the second quarter. The divestment resulted in a net gain of MSEK 415 and is included in the operating profit as other operating income and reported as items affecting comparability within the Specialized Industrial Solutions segment. NOTE 5 Subsequent events In April 2026, it was announced that SKF consolidates its manufacturing footprint in Americas to strengthen the long- term efficiency and competitiveness. The factory in Monterrey, Mexico, will be closed and manufacturing capacity will be relocated to Puebla and La Silla, Mexico. The cost for the consolidation of approximately BSEK 0.5 will be reported as Items affecting comparability during Q2. Gothenburg, 21 April 2026 Aktiebolaget SKF (publ) Rickard Gustafson President and CEO This report has not been reviewed by AB SKF’s auditors. 19 SKF Q1 2026 REPORT ===== SIDA 20 ===== MSEK Jan-Mar 2026 Jan-Mar 2025 Revenue 2,135 1,951 Cost of revenue −1,022 −1,333 General management and administrative expenses −471 −477 Other operating income/expenses, net 7 21 Operating profit 649 162 Financial income and expenses, net −27 120 Profit before taxes 622 282 Income taxes −127 −18 Net profit 495 264 Parent Company condensed income statements Parent Company condensed balance sheets Parent Company condensed statements of comprehensive income MSEK Jan-Mar 2026 Jan-Mar 2025 Net profit 495 264 Items that will not be reclassified to the income statement: Assets at fair value through other comprehensive income — −309 Other comprehensive income, net of tax 495 −45 Total comprehensive income 495 −45 MSEK March 2026 December 2025 March 2025 Intangible assets 486 531 666 Investments in subsidiaries 26,175 26,014 20,777 Receivables from subsidiaries 10,901 11,668 11,748 Other non-current assets 718 753 710 Non-current assets 38,280 38,966 33,901 Receivables from subsidiaries 3,824 5,015 7,751 Other receivables 516 511 553 Current assets 4,340 5,526 8,304 Total assets 42,260 44,492 42,205 Shareholders’ equity 28,436 28,023 24,819 Provisions 801 817 760 Non-current liabilities 10,899 11,666 11,746 Current liabilities 2,484 3,986 4,880 Total shareholders’ equity, provisions and liabilities 42,620 44,492 42,205 Financial statements – Parent Company 20 SKF Q1 2026 REPORT ===== SIDA 21 ===== Alternative performance measures and definitions Adjusted earnings/loss per share in SEK Basic earnings per share excluding items affecting comparability. Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortization) Operating profit excluding items affecting comparability before depreciations, amor - tizations, and impairments. Adjusted EBITDA margin Adjusted EBITDA as a percentage of twelve months’ rolling net sales. Adjusted operating margin Operating profit margin excluding items affecting comparability. Adjusted operating profit Operating profit excluding items affecting comparability. Adjusted return on capital employed (Adjusted ROCE) Return on capital employed (ROCE) excluding items affecting comparability. Basic earnings/loss per share in SEK (as defined by IFRS) Profit/loss after taxes less non-controlling interests divided by the ordinary number of shares. Capital employed Twelve months rolling average of total assets less the average of non-interest bearing liabilities. Currency impact on operating profit The effects of both translation and trans - action flows based on current assumptions and exchange rates compared to the corresponding period last year. Debt Loans and net provisions for post- employment benefits. Equity/assets ratio Equity as a percentage of total assets. Gearing Debt as a percentage of the sum of debt and equity. Gross margin Gross income as a percentage of net sales. Items affecting comparability Significant income/expenses that affect comparability between accounting periods. This includes, but is not limited to, restruc - turing costs, impairments and write-offs, currency effects caused by devaluations and gains and losses on divestments of businesses. Net debt Debt less short-term financial assets excluding derivatives. Net debt/Adjusted EBITDA Net debt, in relation to 12 months rolling EBITDA excluding Items affecting comparability. Net debt/EBITDA Net debt, in relation to 12 months rolling EBITDA. Net debt/equity Net debt, as a percentage of equity. Net working capital as % of annual sales (NWC) Trade receivables plus inventory minus trade payables as a percentage of twelve months’ rolling net sales. Net working capital (NWC) Trade receivables plus inventories minus trade payables. Operating margin Operating profit/loss, as a percentage of net sales. Organic growth Sales excluding effects of currency and acquired and divested businesses. Registered number of employees Total number of employees included in SKF’s payroll at the end of the period. Return on capital employed (ROCE) Operating profit/loss plus interest income, as a percentage of 12 months’ rolling average of total assets less the average of non-interest bearing liabilities. Return on equity (ROE) Profit/loss after taxes as a percentage of 12 months’ rolling average of equity. Revenue growth Sales excluding effects of currency and divested businesses. Scope 1, 2 and 3 Scope 1 is emissions that SKF controls directly, e.g. equipment using fossil fuel. Scope 2 is emissions that SKF causes indirectly, e.g. from electricity purchase. Scope 3 is emissions that SKF is indirectly responsible for up the value chain, e.g. steel purchase or logistics. SKF organic sales outlook The organic sales outlook for SKF’s products and services represents management’s best estimate based on current information about the future demand from our customers. For reconciliations of other Key ratios, see www.skf.com/group/investors 21 SKF Q1 2026 REPORT ===== SIDA 22 ===== This is SKF Today, around 20% of all energy is spent overcoming friction. At SKF, we fight friction to reduce energy waste and make the most of the resources around us. As a leading technology and engineering company, we deliver value at every step of our customers’ journey. From the design phase, integrating our solutions into customers’ products, to ongoing support throughout their lifecycle, we provide peace of mind. Built on a century of expertise and a profound understanding of our customer applications, we’ve established a global presence and a brand trusted across industries. This allows us to offer tailored solutions– whether optimizing for speed, durability or efficiency–paving the way for a sustainable, resource-efficient future. Quick facts Founded 1907 Represented in around 130 countries Figures for FY 2025: • Net sales MSEK 91,583 • 37,271 employees • > 17,000 distributors ® SKF is a registered trademark of AB SKF (publ). © SKF Group 2026. All rights reserved. Please note that this publication may not be copied or distributed, in whole or in part, unless prior written permission is granted. Every care has been taken to ensure the accuracy of the information contained in this publication, but no liability can be accepted for any loss or damage whether direct, indirect or consequential arising out of the use of the information contained herein. April 2026. Q1 webcast 21 April at 08:30 CEST To follow the presentation via webcast: Viewing SKF Q1 2026 Results Dial-in to participate via telephone: Sweden +46 (0)8 5051 0031 UK/International +44 (0)207 107 0613 More information on www.skf.com/group/investors Cautionary statement This report contains forward-looking statements that reflect SKF’s current expectations on future events and financial and operational development. Forward-looking statements are inherently associated with risks and uncertainties, both known and unknown, and depend on future events and circumstances. Although management believes that the expectations reflected in the forward-looking statements are reasonable, no assurance can be given that such expectations will be fulfilled. Any statements about future strategy and business decisions are indicative only and remain subject to all necessary approvals. Results and actual outcomes could differ materially as a result of several factors, including but not limited to changes in economic, market and competitive conditions, regulatory changes and other government action, and fluctuations in exchange rates. SKF makes no undertaking to disclose, update or revise any forward-looking statement due to new information, future events or other such matters, other than what is required according to applicable legislation. Contact Investor Relations Sophie Arnius, Head of Investor Relations mobile +46 705 908 072 sophie.arnius@skf.com Press Carl Bjernstam, Head of Media Relations tel +46 31 337 2517 mobile +46 722 201 893 carl.bjernstam@skf.com Calendar 21 April 2026 Annual General Meeting 2026 17 July 2026 Q2 report 21 October 2026 Q3 report 27 January 2027 Q4 report 2026 The financial information in this report contains inside information that AB SKF is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above, on 21 April 2026 at 07:30 CEST. AB SKF (publ) Postal address: SE-415 50 Gothenburg, Sweden Visiting address: Sven Wingquists Gata 2 tel +46 31 337 10 00 www.skf.com Company registration number 556007-3495