===== SIDA 1 ===== Improved margin in challenging market conditions Q3 2025 • Net sales MSEK 22,482 (23,692) • Organic growth 2.0% (−4.4%), driven by organic sales growth for the Industrial business, partly offset by negative market demand for the Automotive business. • Adjusted operating profit MSEK 2,762 (2,821). Solid price/mix contribution, driven by pricing activities and portfolio management, as well as good cost control more than offset lower production volumes. Continued significant currency headwind. /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 -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.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 Q2 25242322212019 /zero.tf,/zero.tf /four.tf,/five.tf /nine.tf,/zero.tf /one.tf/three.tf,/five.tf /one.tf/eight.tf,/zero.tf Revenue growth Omsättningstillväxt (sista är justerad) Adjusted ROCE Justerad ROCE Net debt/equity excl. Pension liabilites’ Nettoskuld/eget kapital Adjusted operating margin Justerad rörelsemarginal Decarbonized operations 5) (scope 1 and 2) -- Target 2030 –95% Long-term targets1) /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 -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.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 Q2 25242322212019 /zero.tf,/zero.tf /four.tf,/five.tf /nine.tf,/zero.tf /one.tf/three.tf,/five.tf /one.tf/eight.tf,/zero.tf Revenue growth Omsättningstillväxt (sista är justerad) Adjusted ROCE Justerad ROCE Net debt/equity excl. Pension liabilites’ Nettoskuld/eget kapital Adjusted operating margin Justerad rörelsemarginal -- Target3) 14% Adjusted operating margin Q3 2023 Q3 2025 Q3 2024 /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 -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.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 Q2 25242322212019 /zero.tf,/zero.tf /four.tf,/five.tf /nine.tf,/zero.tf /one.tf/three.tf,/five.tf /one.tf/eight.tf,/zero.tf Revenue growth Omsättningstillväxt (sista är justerad) Adjusted ROCE Justerad ROCE Net debt/equity excl. Pension liabilites’ Nettoskuld/eget kapital Adjusted operating margin Justerad rörelsemarginal -- Target3) <40% Net debt/Equity 4) Q3 2023 Q3 2025 Q3 2024 -/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 Q2 25242322212019 /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) Q3 2023 Q3 2025 Q3 2024/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 -/one.tf/two.tf -/six.tf /zero.tf /six.tf /one.tf/two.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 Q2 25242322212019 /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 Q3 2023 Q3 2025 Q3 2024 • Adjusted operating margin 12.3% (11.9%) with Industrial at 15.5% (15.0%) and Automotive at 4.3% (4.7%). • Operating profit MSEK 2,007 (2,526). This included items affecting comparability of MSEK –755 (−295), whereof MSEK –230 (–28) had a non-cash impact. • Operating margin 8.9% (10.7%) • Net cash flow from operating activities MSEK 1,840 (3,576) • Basic earnings per share SEK 2.30 (3.40) 1) In addition to the targets presented above, SKF has a dividend pay-out ratio target of 50% of the Group’s average net profit calculated over a business cycle. The outcome for 2024 was 51% and the five-year average was 55%. For more information, see SKF Annual Report 2024. 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 Q3 2025 Q3 2024 Jan-Sep 2025 Jan-Sep 2024 Net sales 22,482 23,692 69,614 73,997 Organic growth, % 2.0 −4.4 −0.6 −6.1 Adjusted operating profit 2,762 2,821 9,085 9,448 Adjusted operating margin, % 12.3 11.9 13.0 12.8 Operating profit 2,007 2,526 6,192 8,008 Operating margin, % 8.9 10.7 8.9 10.8 Adjusted net profit 1,882 1,926 6,552 6,736 Net profit 1,127 1,631 3,658 5,296 Net cash flow from operating activities 1,840 3,576 5,634 7,509 Basic earnings per share 2.30 3.40 7.38 10.91 Adjusted earnings per share 3.96 4.05 13.73 14.07 1 SKF Q3 2025 REPORT PUBLISHED 29 OCTOBER 2025 ===== SIDA 2 ===== I’m pleased to conclude another quarter with a resilient and improved margin, driven by a strong commercial execution, despite challeng- ing market conditions and negative currency effects. We continue to invest in transforming SKF into an even more focused company, which will give profitable growth opportunities when markets improve. Margin resilience in continued challenging markets Organic sales increased by 2% year-over-year, mainly driven by favourable comparable figures, while market conditions in Q3 remained similar as in the previous quarter. Our Industrial business grew 4% with improved organic sales in all regions, especially in Asia and Americas. In China, policy- driven pre-buy effects within Wind continued, and our perfor - mance in India remained strong. In Americas, we drive an active commercial agenda and growth in Q3 was mainly driven by tariff-related price increases. Conditions in Europe remained overall challenging with Aerospace and Magnetic bearings being the main contributors to growth. Organic sales in our Automotive business declined -2% driven by weak market demand, especially in North America. Despite challenging market conditions and a significant negative currency impact, we delivered another quarter with a resilient margin. The adjusted operating margin improved compared to the same quarter last year to 12.3%, from effective pricing and portfolio management as well as good cost control. The announced rightsizing initiatives continues at high pace with savings primarily through 2026-2027, and limited savings realized in this quarter. The geopolitical sentiment continued to fuel uncertainty in the market, but yet again we managed to largely compensate for increased tariff costs in the quarter. Given current levels, including Section 232 Tariffs on Steel and Aluminum, we CEO Statement expect also in Q4 to largely compensate for increased tariff costs through a broad set of mitigating activities, where price adjustments remain a key lever. Items affecting comparability (IAC) was high in the quarter at approximately MSEK 750. This was mainly driven by the Automotive separation. As previously communicated, footprint regionalization and consolidation, also impacted. We expect IAC to sequentially increase due to the Automotive separation and the recently announced closure of our factory in Argentina. Cash flow was weak and compared to last year it was nega - tively impacted by higher costs for the Automotive separation and a working capital build-up, mainly driven by timing effects in accounts receivable and accounts payable. Our focused activities around inventory management had a positive effect. “ Investment to capture growth opportunities Automotive separation progressing well The separation of our Automotive business continues at high pace, and we are making good progress. More than 50% of Automotive business volumes have been transferred into new legal entities and a majority of the Automotive manning has been completed. In addition, SKF India Ltd. has completed the demerger of the industrial business into a separate focused entity, SKF India (Industrial) Ltd., which is intended to also be listed on stock exchanges in India before year-end. All in all, we expect to be operationally ready to list the Automotive business on Nasdaq Stockholm by mid-2026, in accordance with the plan previously announced. Listing is subject to the Board of Directors proposing a listing and shareholders’ approval. More information about the long-term value creation from having two stand-alone businesses will be presented at our Capital Markets Day on 11 November. New global centre targeting attractive segments Another example of how we continuously develop our business is our new, highly automated, global Super-precision bearing centre in Italy. Super-precision bearings account for approxi - mately 2% of SKF Industrial net sales and deliver superior customer value in applications that require high-speed rotation and power density with minimal downtime. This investment will allow us to capture future growth opportunities in segments driven by megatrends such as electrification and automation. Outlook While the global economic development makes the outlook uncertain, we expect market demand in Q4 to remain at similar levels as in Q3. Consequently, we expect organic sales to be relatively unchanged in Q4, year-over-year. Rickard Gustafson President and CEO 2 SKF Q3 2025 REPORT ===== SIDA 3 ===== SKF Group Net sales Net sales amounted to MSEK 22,482 (23,692) and decreased by –5.1% compared to last year, whereof currency effects accounted for –6.9%. Organic sales grew by 2.0% (–4.4%), where Industrial grew by 3.8% and Automotive declined by –2.3%, mainly driven by positive price/mix through continued pricing and portfolio management. All regions had positive organic growth where China and Northeast Asia was the strongest region with +5.6% organic growth. Net impact from acquired and divested growth was –0.2%, where the acquisi - tion of the John Sample Group last year was offset by the divestment of the Aerospace business in Hanover in the US during the second quarter. MSEK % Adjusted operating profit, MSEK Adjusted operating margin 12 months rolling, % 0 1,000 2,000 3,000 4,000 Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23 0 2 4 6 8 10 12 14 0 10,000 20,000 30,000 40,000 Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23 -10 -5 0 5 10 15 MSEK Net sales, MSEK % Organic growth, % TO BE UPDATED Operating profit Operating profit for the third quarter was MSEK 2,007 (2,526). Operating profit included items affecting comparability of MSEK –755 (–295), whereof restructuring and cost reduction activities accounted for MSEK –141 (–230). In addition, MSEK –362 (–37) related to the separation of the Automotive business and MSEK –230 (–28) related to impairment of fixed assets. It also included an adjustment of MSEK –22 to the previously reported profit related to the sale of the Aerospace business in Hanover, US. The adjusted operating profit for the third quarter was MSEK 2,762 (2,821). The adjusted operating profit was posi - tively impacted by price and mix. Adjusted operating profit was negatively impacted by lower manufacturing volumes as well as a significant currency headwind. Despite wage inflation, volume- related cost inefficiencies and tariffs, the cost devel - opment was only slightly negative compared to last year through solid cost control. Tariffs were largely compensated for by price increases and other mitigating activities. Adjusted operating profit and Adjusted operating margin Net sales and Organic growth Sales and Adjusted operating profit bridge 1) MSEK Q3 2024 Organic sales and manufacturing volumes Cost development Currency impact Structure 2) Q3 2025 Net sales 23,692 471 −1,627 −54 22,482 Growth, % 2.0 −6.9 −0.2 −5.1 Adjusted operating profit 2,821 389 −23 −439 14 2,762 Adjusted operating margin, % 11.9 12.3 Accretion/dilution, pp 1.5 −0.1 −1.0 0.1 1) Numbers are rounded. 2) Including acquisitions and divestments of businesses. Organic sales by region In local currencies, change y-o-y, % Q3 2025 Europe, Middle East and Africa 1.0 The Americas 1.0 China and Northeast Asia 5.6 India and Southeast Asia 2.2 3 SKF Q3 2025 REPORT ===== SIDA 4 ===== SKF Group cont. Financial net and tax Financial income and expenses, net was MSEK –320 (–285). Exchange rate fluctuations had a more negative impact in the third quarter of 2025, compared to the third quarter 2024 while interest expenses were higher in 2024. Taxes in the quarter were MSEK –560 (–610) resulting in an effective tax rate of 33.2% (27.2%). The tax rate was negatively impacted by adjustments due to differences between local and functional currency. Net profit for the period Net profit for the quarter amounted to MSEK 1,127 (1,631), corresponding to SEK 2.30 (3.40) in earnings per share. Adjusted earnings per share amounted to SEK 3.96 (4.05). Cash flow Net cash flow from operating activities in the third quarter amounted to MSEK 1,840 (3,576). The weaker cash flow was driven by lower operating profit in 2025 compared to 2024, negatively impacted by Automotive separation expenses. Changes in working capital impacted negatively; however, inventories decreased in the quarter. Accounts receivable decreased but not at the same level as last year due to timing in the quarter. Accounts payable decreased in the quarter, mainly driven by seasonality. Changes in working capital last year was impacted by increased accounts payable and inventories due to change in reporting of consignment stock. Net capital expenditure amounted to MSEK 964 (1,420). Financing activities included cash outflow from repayment of MEUR 300 loan. Financial position Net working capital in percentage of annual sales was 32.0% in September 2025 compared to 31.5% in September 2024. As of 30 September 2025, SKF had a net debt of MSEK 14,515, compared to MSEK 16,472 as of 1 January 2025. The decreased debt was mainly related to cash inflow from sale of business and cash flow from operations which were partly offset by capex and the dividend paid in the second quarter as well as currency translation effects. Provisions for post-employment benefits, net, decreased by MSEK –466 (–268) in the third quarter, mainly driven by net payments. 0 5,000 10,000 15,000 20,000 25,000 Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23 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 Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23 MSEK 1) 12 months rolling 0 10,000 20,000 30,000 40,000 Q3 25Q2 25Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23 0 10 20 30 40 MSEK % Net working capital Net working capital, % of 12 months rolling sales Net debt and Net debt/Adjusted EBITDA Net cash flow from operating activities 1) Net working capital Key figures 30 Sep 2025 30 June 2025 30 Sep 2024 Net working capital, % of 12 months rolling sales 32.0 31.6 31.5 Adjusted ROCE, % 14.0 13.9 14.6 Net debt/equity, % 25.9 28.0 30.0 Net debt/equity, excluding post-employment benefits, % 13.3 14.4 16.2 Net debt/EBITDA 1.1 1.1 1.2 Net debt/Adjusted EBITDA 0.9 1.0 1.0 Operating cash flow MSEK Q3 2025 Q3 2024 Jan-Sep 2025 Jan-Sep 2024 EBITDA 3,238 3,562 9,853 11,332 Taxes paid −697 −471 −1,805 −1,861 Non-cash items and other −312 129 −78 −1 Changes in net working capital −389 356 −2,336 −1,961 Net cash flow from operating activities 1,840 3,576 5,634 7,509 Investing activities −977 −1,394 −509 −3,675 Operating cash flow after investments 863 2,182 5,125 3,834 4 SKF Q3 2025 REPORT ===== SIDA 5 ===== Industrial business Net sales The Industrial business reported net sales of MSEK 15,989 (16,537). Organic growth was 3.8%, mainly driven by solid price/mix but higher sales volumes also contributed. Currency effects impacted net sales negatively by –6.8% and the net impact from acquired and divested growth was –0.3%. Geographically, all regions reported positive organic growth and from a customer industry perspective, aerospace continued to deliver strong organic growth, while heavy industries declined. Operating profit The adjusted operating profit for the third quarter was MSEK 2,482 (2,486), with a corresponding operating margin of 15.5% (15.0%). Solid price/mix contribution and higher sales volumes more than offset lower manufacturing volumes. Wage inflation, volume related cost inefficiencies and tariff costs were partly offset by cost reduction activities. Furthermore, currency effects impacted the operating profit significantly negatively. Share of Group adjusted operating profit Sales and Adjusted operation profit bridge 1) MSEK Q3 2024 Organic sales and manufacturing volumes Cost development Currency impact Structure 2) Q3 2025 Net sales 16,537 635 −1,129 −54 15,989 Growth, % 3.8 −6.8 −0.3 −3.3 Adjusted operating profit 2,486 384 −95 −307 14 2,482 Adjusted operating margin, % 15.0 15.5 Accretion/dilution, pp 1.9 −0.6 −0.8 0.1 1) Numbers are rounded. 2) Including acquisitions and divestments of businesses. Organic sales by customer industry 3) Share of net sales by industry,% Europe, Middle East and Africa The Americas China and Northeast Asia 4) India and Southeast Asia Share of net sales by region, % 41 29 21 9 Industrial distribution 42 - ++ +++ +/- Aerospace 9 +++ +++ --- +/- High-speed machinery and electrical drives 8 ++ ++ --- ++ Railway 7 -- ++ - +/- Heavy industries 6 ++ --- --- --- Other industrial 6 -- + --- --- Agriculture, food and beverage 4 ++ - --- +++ Renewable energy 4 --- +++ ++ +++ Marine 4 + +++ -- +/- Off-highway 3 + ++ --- - Traditional energy 3 +++ --- --- +/- Material handling 2 +++ -- --- +++ Automation 2 --- +/- --- +/- Total +/- ++ ++ +/- 3) For the quarter, in local currencies, changes year-over-year. 4) Reclassification of customer accounts between customer industries impact year-over-year comparison. Share of Group net sales Industrial Automotive 90%71% Industrial Automotive 90%71% Key financials MSEK Q3 2025 Q3 2024 Jan-Sep 2025 Jan-Sep 2024 Net sales 15,989 16,537 49,676 51,967 Adjusted operating profit 2,482 2,486 8,111 8,272 Adjusted operating margin, % 15.5 15.0 16.3 15.9 Operating profit 2,060 2,241 6,021 7,016 Operating margin, % 12.9 13.6 12.1 13.5 5 SKF Q3 2025 REPORT ===== SIDA 6 ===== Automotive business Net sales The Automotive business reported net sales of MSEK 6,493 (7,155). The organic sales decline of –2.3% was driven by a continued weak market demand environment, partly offset by price/mix. Currency effects impacted net sales negatively by –7.0%. Market conditions were especially challenging in North America, mainly driven by tariff-related uncertainties. India and Southeast Asia and China and Northeast Asia had positive organic growth. Demand in Europe, Middle East and Africa improved slightly, driven by commercial vehicles and vehicle aftermarket. Operating profit The adjusted operating profit for the third quarter was MSEK 280 (335), with a corresponding operating margin of 4.3% (4.7%). Solid price/mix fully compensated for lower sales and manufacturing volumes. Cost reduction activities and lower material cost more than compensated for wage inflation, volume related cost inefficiencies and tariffs resulting in a positive cost development compared to last year. The operating profit was negatively impacted by significant currency effects. Sales and Adjusted operation profit bridge 1) MSEK Q3 2024 Organic sales and manufacturing volumes Cost development Currency impact Structure 2) Q3 2025 Net sales 7,155 −164 −498 6,493 Growth, % −2.3 −7.0 0.0 −9.3 Adjusted operating profit 335 5 72 −132 280 Adjusted operating margin, % 4.7 4.3 Accretion/dilution, pp 0.2 1.1 −1.6 0.0 1) Numbers are rounded. 2) Including acquisitions and divestments of businesses. Organic sales by customer industry 3) 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, % 38 31 18 13 Light vehicles 52 -- - +/- +/- Vehicle aftermarket 33 ++ - --- ++ Commercial vehicles 15 +++ --- +/- ++ Total +/- -- + + 3) For the quarter, in local currencies, changes year-over-year. Share of Group adjusted operating profit Share of Group net sales Automotive Industrial 10%29% Automotive Industrial 10%29% Key financials MSEK Q3 2025 Q3 2024 Jan-Sep 2025 Jan-Sep 2024 Net sales 6,493 7,155 19,938 22,030 Adjusted operating profit 280 335 973 1,176 Adjusted operating margin, % 4.3 4.7 4.9 5.3 Operating profit −53 285 171 992 Operating margin, % −0.8 4.0 0.9 4.5 6 SKF Q3 2025 REPORT ===== SIDA 7 ===== Outlook and guidance Outlook • Q4 2025: While the global economic development makes the outlook uncertain, we expect market demand to remain at similar levels as in Q3. Consequently, we expect organic sales to be relatively unchanged, year-over-year. Guidance Q4 2025 • Currency impact on the operating profit is expected to be around MSEK 650 negative compared to the fourth quarter 2024, based on exchange rates per 30 September 2025. Guidance FY 2025 • Tax level excluding effects related to divested businesses and separation of the Automotive business: around 28%. • Additions to property, plant and equipment: around BSEK 4 excluding separation of the Automotive business. Previous outlook and guidance statement Outlook • Q3 2025: While the global economic development makes the outlook uncertain, we expect organic sales to be relatively unchanged, year-over-year. Guidance Q3 2025 • Currency impact on the operating profit is expected to be around MSEK 500 negative compared to the third quarter 2024, based on exchange rates per 30 June 2025. Guidance FY 2025 • Tax level excluding effects related to divested businesses: around 26%. • Additions to property, plant and equipment: around BSEK 4.5 excluding separation of the Automotive business. Nine-month 2025 Operating profit for the first nine months was MSEK 6,192 (8,008). Operating profit included items affecting compa - rability of MSEK –2,893 (–1,440), whereof MSEK –2,382 (–1,066) related to ongoing restructuring and cost reduc- tion activities, including the full cost of the rightsizing of the Industrial business. In addition, MSEK –846 (–37) related to the separation of the Automotive business and MSEK –633 (–337) primarily related to impairment of fixed assets. It also included MSEK 224 related to profit from sale of the manufacturing site in Luton, UK, as well as MSEK 744 related to profit from sale of the Aerospace business in Hanover, USA. The adjusted operating profit for the first nine months was MSEK 9,085 (9,448), and was positively impacted by price and mix. Solid cost control resulted in relatively stable cost levels year-over-year, despite wage inflation, volume related cost inefficiencies and tariffs. The adjusted operating profit was negatively impacted by lower sales and manufacturing volumes as well as a significant currency headwind. Financial income and expenses, net was MSEK –1,051 (–933). Exchange rate fluctuations had a more negative impact in 2025 compared to 2024 while interest expenses were higher in 2024. Taxes in the first nine months were MSEK –1,483 (–1,779), resulting in an effective tax rate of 28,8% (25,1%). Net cash flow from operating activities in the first nine months was MSEK 5,634 (7,509). The lower cash flow is driven by a lower operating profit as well as negative impact from changes in working capital. Significant events during the quarter 18 August – Aerospace operation divested The Group has signed an agreement to divest its precision elastomeric device operation in Elgin, Illinois, USA, for a total estimated enterprise value of MUSD 70. Other Group information More information on www.skf.com/group/investors The divestment is expected to close during Q4 2025, subject to authorities’ approval. With the completed divestment of the Hanover operation, SKF is expected to have successfully divested both non-core businesses identified in its aerospace strategic review. 18 September – Håkan Buskhe to be appointed Chair of the Board of SKF Automotive The SKF Board of Directors has announced its intention to appoint Håkan Buskhe as the new Chair of the Board of the SKF Automotive business. The Automotive business continues to be part of the AB SKF group of companies. 19 September – New Super-precision bearing facility A new global centre of excellence for Super-precision bearings was inagurated in Airasca, Italy. It’s a highly automated facility and includes all key functions to drive innovation, efficiency, and customer value for high-performance bearing solutions. 24 September – The Industrial organization SKF has redesigned parts of the Industrial business to further increase its competitiveness and accelerate profitable growth. Read about the new set-up and the changes within Group Management on our website. Significant events after the quarter 27 October – SKF reorganizes its operations in Argentina As part of optimizing its operations worldwide, SKF has decided to discontinue production at its Tortuguitas plant in Argentina. The Tortuguitas plant currently employs approxi - mately 145 people. 7 SKF Q3 2025 REPORT ===== SIDA 8 ===== 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 reported (Q2) 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 sourced in primarily ISEA and Mexico in 2025 continues to contribute to further scope 2 reductions. In addition, energy efficiency has continued to improve. Decarbonized operations 2030 1) Latest figures are presented for the end of the previous quarter, 12 months rolling. Thousand tonnes CO 2 e Equivalent energy GWh Actual full year, thousand tonnes CO 2 e Equivalent energy GWh SBTi trajectory, thousand tonnes CO 2 e Actual YTD 12 months, thousand tonnes CO 2 e 0 500 1,000 1,500 2,000 0 100 200 300 400 500 20302029202820272026Q225202420232022202120202019 0 500 1000 1500 2000 TO BE UPDATED Decarbonized operations (scope 1 and 2) 1) CO2e target, 2030 vs 2019 –95% 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 over - come 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/group/organisation/ sustainability 8 SKF Q3 2025 REPORT ===== SIDA 9 ===== MSEK Jul-Sep 2025 Jul-Sep 2024 Jan-Sep 2025 Jan-Sep 2024 Net sales 22,482 23,692 69,614 73,997 Cost of goods sold −16,389 −17,145 −50,743 −53,485 Gross profit 6,093 6,547 18,871 20,512 Research and development expenses −820 −782 −2,579 −2,478 Selling and administrative expenses −3,089 −3,225 −10,463 −9,870 Other operating income/expenses, net −177 −14 363 −156 Operating profit 2,007 2,526 6,192 8,008 Financial income and expenses, net −320 −285 −1,051 −933 Profit before taxes 1,687 2,241 5,141 7,075 Income taxes −560 −610 −1,483 −1,779 Net profit 1,127 1,631 3,658 5,296 Net profit attributable to: Shareholders of AB SKF 1,047 1,550 3,359 4,967 Non-controlling interests 80 81 299 329 Basic earnings per share (SEK) 1) 2.30 3.40 7.38 10.91 1) Shares from the Performance Share Programme are not considered dilutive, therefore, diluted earnings per share is equal to basic earnings per share. MSEK Jul-Sep 2025 Jul-Sep 2024 Jan-Sep 2025 Jan-Sep 2024 Net profit 1,127 1,631 3,658 5,296 Items that will not be reclassified to the income statement: Remeasurements (actuarial gains and losses) 209 −156 196 304 Assets at fair value through other comprehensive income — 75 −309 — Income taxes −76 28 −79 −79 133 −53 −192 225 Items that may be reclassified to the income statement: Exchange differences arising on translation of foreign operations −629 −1,318 −6,045 721 Assets at fair value through other comprehensive income — — — — Income taxes — — — — −629 −1,318 −6,045 721 Other comprehensive income, net of tax −496 −1,371 −6,237 946 Total comprehensive income 631 260 −2,579 6,242 Shareholders of AB SKF 626 285 −2,502 5,912 Non-controlling interests 5 −25 −77 330 Condensed consolidated income statements Financial statements – SKF Group Condensed consolidated statements of comprehensive income 9 SKF Q3 2025 REPORT ===== SIDA 10 ===== MSEK September 2025 December 2024 September 2024 Goodwill 11,235 12,574 12,139 Other intangible assets 3,698 4,671 4,524 Property, plant and equipment 27,828 30,470 28,773 Right-of-use asset leases 3,012 3,564 3,337 Deferred tax assets 4,093 3,369 3,228 Other non-current assets 2,322 2,971 2,671 Non-current assets 52,188 57,619 54,672 Inventories 24,371 26,182 25,455 Trade receivables 16,410 16,600 17,429 Other current assets 5,729 6,057 5,718 Other current financial assets 8,028 11,361 10,161 Current assets 54,538 60,200 58,763 Assets classified as held for sale 225 1,594 — Total assets 106,951 119,413 113,435 Equity attributable to shareholders of AB SKF 53,808 59,649 55,544 Equity attributable to non-controlling interests 2,193 2,320 2,164 Long-term financial liabilities 14,486 15,399 14,909 Provisions for post-employment benefits 7,608 8,502 8,697 Provisions for deferred taxes 1,801 1,905 1,391 Other long-term liabilities and provisions 1,816 1,504 1,478 Non-current liabilities 25,711 27,310 26,475 Trade payables 10,587 12,553 11,830 Short-term financial liabilities 1,141 5,361 4,834 Other short-term liabilities and provisions 13,492 12,087 12,588 Current liabilities 25,220 30,001 29,252 Liabilities classified as held for sale 19 133 — Total equity and liabilities 106,951 119,413 113,435 MSEK Jul-Sep 2025 Jul-Sep 2024 Jan-Sep 2025 Jan-Sep 2024 Opening balance 1 July/1 January 55,386 57,735 61,969 54,956 Net profit 1,127 1,631 3,658 5,296 Hyperinflation adjustments 38 79 161 303 Components of other comprehensive income Currency translation adjustments −629 −1,318 −6,045 721 Change in FV OCI assets and cash flow hedges — 75 −309 — Remeasurements 209 −156 196 304 Income taxes −76 28 −79 −79 Transactions with shareholders Non-controlling interest −28 −1 4 15 Cost for Performance Share Programmes, net 11 2 22 −13 Dividends −37 −369 −3,576 −3,796 Other — 2 — 1 Closing balance 30 September 56,001 57,708 56,001 57,708 Condensed consolidated balance sheets Condensed consolidated statements of changes in shareholders’ equity 10 SKF Q3 2025 REPORT ===== SIDA 11 ===== MSEK Jul-Sep 2025 Jul-Sep 2024 Jan-Sep 2025 Jan-Sep 2024 Operating activities: Operating profit 2,007 2,526 6,192 8,008 Non-cash items: Depreciation, amortization and impairment 1,231 1,036 3,661 3,324 Net loss/gain (—) on sales of PPE and businesses 16 26 −1,015 14 Other non-cash items 33 −33 1,970 961 Income taxes paid −697 −471 −1,805 −1,861 Interest received 146 235 225 386 Interest paid −187 −299 −420 −648 Other −320 200 −838 −714 Changes in working capital: −389 356 −2,336 −1,961 Inventories 295 −1,479 −663 −2,006 Accounts receivable 326 946 −1,473 −486 Accounts payable −987 758 −1,016 452 Other operating assets/liabilities −23 131 816 79 Net cash flow from operating activities 1,840 3,576 5,634 7,509 Investing activities: Payments for intangible assets, PPE, businesses and equity securities −966 −1,431 −2,814 −3,751 Sales of PPE, businesses and equity securities 10 37 327 76 Sales of business net of cash −21 — 2,188 — Tax payments related to sales of business — — −210 — Net cash flow used in investing activities −977 −1,394 −509 −3,675 Net cash flow after investments before financing 863 2,182 5,125 3,834 MSEK Jul-Sep 2025 Jul-Sep 2024 Jan-Sep 2025 Jan-Sep 2024 Financing activities: Proceeds from short- and long-term loans 63 271 212 369 Repayments of short- and long-term loans −3,579 −29 −3,676 −3,151 Repayment leases −220 −243 −662 −653 Cash dividends −38 −370 −3,576 −3,796 Other financing items −174 −210 −174 −210 Investments in financial assets 6 −12 −131 18 Sales of financial assets 9 4 27 60 Net cash flow used in financing activities −3,933 −589 −7,980 −7,363 Net cash flow −3,070 1,593 −2,855 −3,529 Change in cash and cash equivalents: Cash and cash equivalents at 1 July/1 January 10,790 8,259 11,031 13,311 Cash effect excl. acquired/sold businesses −3,049 1,589 −5,043 −3,536 Cash effect of acquired/sold businesses −21 4 2,188 7 Exchange rate effect −91 −76 −547 −6 Cash and cash equivalents at 30 September 7,629 9,776 7,629 9,776 Change in Net debt Closing balance 30 September 2025 Other non- cash changes Acquired/ sold businesses Cash changes Exchange rate effect Opening balance 1 January 2025 Loans, long- and short-term 12,393 27 — −3,464 −696 16,526 Post-employment benefits, net 7,044 544 — −882 −347 7,729 Lease liabilities 3,015 490 — −662 −329 3,516 Financial assets, other −308 −2 — −81 43 −268 Cash and cash equivalents −7,629 — −2,188 5,043 547 −11,031 Net debt 14,515 1,059 −2,188 −46 −782 16,472 Condensed consolidated statements of cash flow 11 SKF Q3 2025 REPORT ===== SIDA 12 ===== MSEK unless otherwise stated Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Net sales 24,438 24,699 25,606 23,692 24,725 23,966 23,166 22,482 Cost of goods sold −18,316 −17,604 −18,736 −17,145 −17,864 −16,830 −17,524 −16,389 Gross profit 6,122 7,095 6,870 6,547 6,861 7,136 5,642 6,093 Gross margin, % 25.1 28.7 26.8 27.6 27.8 29.8 24.4 27.1 Research and development expenses −848 −826 −870 −782 −848 −849 −910 −820 Selling and administrative expenses −3,404 −3,234 −3,411 −3,225 −3,494 −3,448 −3,926 −3,089 as % of sales 13.9 13.1 13.3 13.6 14.1 14.4 16.9 13.7 Other operating income/expenses, net 55 −42 −100 −14 −188 46 494 −177 Operating profit 1,925 2,993 2,489 2,526 2,331 2,885 1,300 2,007 Operating margin, % 7.9 12.1 9.7 10.7 9.4 12.0 5.6 8.9 Adjusted operating profit 2,929 3,303 3,324 2,821 2,735 3,233 3,090 2,762 Adjusted operating margin, % 12.0 13.4 13.0 11.9 11.1 13.5 13.3 12.3 Financial net −709 −271 −377 −285 −317 −290 −441 −320 Profit before taxes 1,216 2,722 2,112 2,241 2,014 2,595 859 1,687 Profit margin before taxes, % 5.0 11.0 8.2 9.5 8.1 10.8 3.7 7.5 Income taxes −493 −720 −449 −610 −423 −647 −276 −560 Net profit 723 2,002 1,663 1,631 1,591 1,948 583 1,127 Net profit attributable to: Shareholders of AB SKF 623 1,888 1,529 1,550 1,507 1,796 516 1,047 Non-controlling interests 100 114 134 81 84 152 67 80 Condensed consolidated financial information 12 SKF Q3 2025 REPORT ===== SIDA 13 ===== MSEK Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Operating profit: Industrial 1,913 2,644 2,131 2,241 2,269 2,677 1,284 2,060 Automotive 12 349 358 285 62 208 16 −53 Financial net −709 −271 −377 −285 −317 −290 −441 −320 Profit before tax for the Group 1,216 2,722 2,112 2,241 2,014 2,595 859 1,687 Reconciliation of profit before taxes for the Group Share data Jul-Sep 2025 Jul-Sep 2024 Jan-Sep 2025 Jan-Sep 2024 Total number of shares: 455,351,068 455,351,068 455,351,068 455,351,068 whereof A shares 28,930,824 29,235,933 28,930,824 29,235,933 whereof B shares 426,420,244 426,115,135 426,420,244 426,115,135 Basic earnings per share (SEK) 1) 2.30 3.40 7.38 10.91 Diluted earnings per share (SEK) 2) 2.30 3.40 7.38 10.91 Weighted average number of shares, basic 455,351,068 455,351,068 455,351,068 455,351,068 Weighted average number of shares, diluted 455,351,068 455,351,068 455,351,068 455,351,068 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. 13 SKF Q3 2025 REPORT ===== SIDA 14 ===== Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Net sales, MSEK 24,438 24,699 25,606 23,692 24,725 23,966 23,166 22,482 Organic growth, % −1.9 −7.0 −6.6 −4.4 −3.1 −3.5 −0.2 2.0 Adjusted EBITDA, MSEK 4,069 4,280 4,326 3,831 3,833 4,298 4,088 3,763 EBITDA, MSEK 3,204 4,065 3,705 3,562 3,439 4,143 2,472 3,238 EBITA, MSEK 2,092 3,152 2,643 2,681 2,495 3,049 1,446 2,153 Adjusted operating profit, MSEK 2,929 3,303 3,324 2,821 2,735 3,233 3,090 2,762 Adjusted operating margin, % 12.0 13.4 13.0 11.9 11.1 13.5 13.3 12.3 Operating profit 1,925 2,993 2,489 2,526 2,331 2,885 1,300 2,007 Operating margin, % 7.9 12.1 9.7 10.7 9.4 12.0 5.6 8.9 Adjusted earnings per share, SEK 3.57 4.83 5.19 4.05 4.20 4.71 5.06 3.96 Basic earnings per share, SEK 1.37 4.15 3.36 3.40 3.31 3.95 1.13 2.30 Dividend per share, SEK — — 7.50 — — — 7.75 — Share price at the end of the period, SEK 201.3 218.5 212.8 202.0 207.6 202.2 217.1 233.2 Net working capital, % of 12 months rolling sales 27.7 30.9 31.9 31.5 30.6 30.4 31.6 32.0 Adjusted ROCE, % 15.4 15.1 14.7 14.6 14.2 14.0 13.9 14.0 ROCE, % 13.3 12.7 11.9 11.9 12.1 11.9 10.7 10.2 ROE, % 12.0 11.5 10.6 10.4 11.7 11.5 9.7 9.0 Gearing, % 35.2 33.5 32.2 32.1 30.9 30.5 32.5 28.6 Equity/assets ratio, % 49.1 50.4 50.9 50.9 51.9 52.3 49.7 52.4 Additions to property, plant and equipment, MSEK 1,478 989 1,305 1,420 1,364 916 930 964 Net debt/equity, % 29.5 26.6 32.8 30.0 26.6 25.2 28.0 25.9 Net debt/equity, excluding post-employment benefits, % 13.9 13.0 18.6 16.2 14.1 13.1 14.4 13.3 Net debt, MSEK 16,191 15,983 18,937 17,291 16,472 14,933 15,491 14,515 Net debt/EBITDA 1.1 1.1 1.3 1.2 1.1 1.0 1.1 1.1 Net debt/Adjusted EBITDA 0.9 0.9 1.1 1.0 1.0 0.9 1.0 0.9 Registered number of employees 40,396 40,051 39,589 39,198 38,743 38,426 38,008 37,842 Definitions, see page 18. 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 14 SKF Q3 2025 REPORT ===== SIDA 15 ===== Industrial MSEK unless otherwise stated Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Net sales 17,350 17,487 17,943 16,537 17,508 17,033 16,654 15,989 Organic growth, % −3.0 −7.3 −7.4 −4.6 −2.7 −3.6 2.4 3.8 Adjusted operating profit 2,611 2,867 2,919 2,486 2,549 2,871 2,759 2,482 Adjusted operating margin, % 15.0 16.4 16.3 15.0 14.6 16.9 16.6 15.5 Operating profit 1,913 2,644 2,131 2,241 2,269 2,677 1,284 2,060 Operating margin, % 11.0 15.1 11.9 13.6 13.0 15.7 7.7 12.9 Adjusted EBITDA 3,594 3,719 3,790 3,379 3,512 3,800 3,618 3,341 EBITDA 3,035 3,592 3,180 3,160 3,242 3,799 2,312 3,147 Assets and liabilities, net 50,381 55,342 55,230 53,298 54,652 51,950 49,054 49,070 Registered number of employees 34,013 33,722 33,235 32,876 32,465 31,883 31,372 31,189 Automotive MSEK unless otherwise stated Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Net sales 7,088 7,212 7,663 7,155 7,217 6,933 6,512 6,493 Organic growth, % 0.7 −6.2 −4.7 −4.0 −4.0 −3.0 −6.2 −2.3 Adjusted operating profit 318 436 405 335 186 362 331 280 Adjusted operating margin, % 4.5 6.0 5.3 4.7 2.6 5.2 5.1 4.3 Operating profit 12 349 358 285 62 208 16 −53 Operating margin, % 0.2 4.8 4.7 4.0 0.9 3.0 0.2 −0.8 Adjusted EBITDA 475 560 535 452 321 498 471 422 EBITDA 169 473 525 402 197 344 158 91 Assets and liabilities, net 14,648 15,582 15,941 15,549 16,159 15,354 14,860 14,759 Registered number of employees 4,093 3,968 3,983 3,918 3,879 3,913 3,963 3,993 1) Previously published figures for 2023 and 2024 have been restated to reflect change in responsibilities for factories and Group functions in accordance with new organizational structure. Segment information – quarterly figures 15 SKF Q3 2025 REPORT ===== SIDA 16 ===== 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 third quarter 2025. SKF Group has analyzed the financial figures and concluded that the Group is not expecting any additional material top-up tax during 2025. 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 2024, 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 2024. NOTE 3 Risks and uncertainties in the business The SKF Group operates in many different industrial and geographical areas. As a result, the SKF Group is exposed to various types of risks. SKF appreciates that there are risks associated with the macro environment such as the geo - political landscape, the state of global markets and significant industry and technological 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 regulatory 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 August, SKF and Carco agreed on a price adjustment of MSEK 21 to the initital sales price of the ring and seal operation in Hanover, Pennsylvania, USA. Including the price adjustment, the divestment within the aerospace business resulted in a total net cash inflow of MSEK 2,188 and a net gain of MSEK 744. The gain from the divestment is included in the operating profit as other operating income and reported as items affecting comparability within the Industrial segment. NOTE 5 Assets held for sale As per 30 September 2025 the net assets for the aerospace operation in Elgin, USA have been reported as assets held for sale in accordance with IFRS 5. Net assets per end of September amounted to approximately MSEK 200. Gothenburg, 29 October 2025 Aktiebolaget SKF (publ) Rickard Gustafson President and CEO This report has not been reviewed by AB SKF’s auditors. 16 SKF Q3 2025 REPORT ===== SIDA 17 ===== MSEK Jul-Sep 2025 Jul-Sep 2024 Jan-Sep 2025 Jan-Sep 2024 Revenue 316 787 3,330 5,373 Cost of revenue −1,408 −1,196 −4,297 −4,021 General management and administrative expenses −510 −366 −1,426 −1,279 Other operating income/expenses, net 4 16 19 21 Operating profit −1,598 −759 −2,374 94 Financial income and expenses, net 4,010 796 4,420 774 Profit before taxes 2,412 37 2,046 868 Appropriations — — — — Income taxes 334 167 520 26 Net profit 2,746 204 2,566 894 Parent Company condensed income statements Parent Company condensed balance sheets Parent Company condensed statements of comprehensive income MSEK Jul-Sep 2025 Jul-Sep 2024 Jan-Sep 2025 Jan-Sep 2024 Net profit 2,746 204 2,566 894 Items that will not be reclassified to the income statement: Assets at fair value through other comprehensive income — 75 −309 — Items that may be reclassified to the income statement: Assets at fair value through other comprehensive income — — — — Other comprehensive income, net of tax 2,746 279 2,257 894 Total comprehensive income 2,746 279 2,257 894 MSEK September 2025 December 2024 September 2024 Intangible assets 576 712 757 Investments in subsidiaries 24,797 20,797 22,431 Receivables from subsidiaries 11,934 12,483 12,206 Other non-current assets 1,276 937 954 Non-current assets 38,583 34,929 36,348 Receivables from subsidiaries 1,676 8,207 5,194 Other receivables 575 557 485 Current assets 2,251 8,764 5,679 Total assets 40,834 43,693 42,027 Shareholders’ equity 23,645 24,895 22,677 Provisions 831 731 750 Non-current liabilities 11,931 12,480 12,203 Current liabilities 4,427 5,587 6,397 Total shareholders’ equity, provisions and liabilities 40,834 43,693 42,027 Financial statements – Parent Company 17 SKF Q3 2025 REPORT ===== SIDA 18 ===== Alternative performance measures and definitions Adjusted operating profit Operating profit excluding items affecting comparability. Adjusted operating margin Operating profit margin excluding items affecting comparability. Adjusted earnings/loss per share in SEK Basic earnings per share 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. EBITA (Earnings before interest, taxes and amortization) Operating profit before amortizations. EBITDA (Earnings before interest, taxes, depreciation and amortization) Operating profit before depreciations, amortizations, and i mpairments. 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/EBITDA Net debt, in relation to 12 months rolling EBITDA. Net debt/Adjusted EBITDA Net debt, in relation to 12 months rolling EBITDA excluding Items affecting comparability. Net debt/equity Net debt, as a percentage of equity. Net working capital (NWC) Trade receivables plus inventories minus trade payables Net working capital as % of annual sales (NWC) Trade receivables plus inventory minus trade payables as a percentage of twelve months’ rolling net sales. Operating margin Operating profit/loss, as a percentage of net sales. Organic growth Sales excluding effects of currency and aquired and divested businesses. Revenue growth Sales excluding effects of currency 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. 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 18 SKF Q3 2025 REPORT ===== SIDA 19 ===== 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 2024: • Net sales MSEK 98,722 • 38,743 employees • > 17,000 distributors ® SKF is a registered trademark of AB SKF (publ). © SKF Group 2025. 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. October 2025. Q3 webcast 29 October at 09:00 CET To follow the presentation via webcast: Viewing SKF Q3 2025 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 11 November 2025 Capital Markets Day 30 January 2026 Q4 report 2025 6 March 2026 Annual Report 2025 21 April 2026 Q1 report 21 April 2026 Annual General Meeting 2026 17 July 2026 Q2 report 21 October 2026 Q3 report 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 29 October 2025 at 07.30 CET. 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