SKF strengthens Group Management

Gothenburg, 24 February 2016: In order to further increase management¡¯s focus on driving organic sales growth and improving profitability, SKF today announces the following changes to its Group Management, all of which are effective immediately. There will be four areas represented at Group Management level: * Industrial Sales Americas, led by John Schmidt * Industrial Sales Europe and MEA, led by Erik Nelander * Industrial Sales Asia, led by Patrick Tong * Automotive and Aerospace, led by Stephane Le Mounier In addition, the following Group Management appointments have also been made: * Business and Product Development, led by Victoria van Camp * Bearing Operations (including purchasing, manufacturing and logistics), led by Luc Graux As a result of these changes, SKF¡¯s Group Management now consists of the following members: * Alrik Danielson ¨C President and CEO * Christian Johansson ¨C Senior Vice President and CFO * Kent Viitanen ¨C Senior Vice President, Group People, Communications and Quality * Bernd Stephan ¨C Senior Vice President, Technology Development * Carina Bergfelt ¨C General Counsel and Senior Vice President, Legal and Sustainability * Stephane Le Mounier ¨C President, Automotive and Aerospace * John Schmidt ¨C President, Industrial Sales Americas * Erik Nelander ¨C President, Industrial Sales Europe and MEA * Patrick Tong ¨C President, Industrial Sales Asia * Victoria van Camp ¨C President, Business and Product Development * Luc Graux ¨C President, Bearing Operations The Group's segment reporting will remain unchanged for Q1 2016. In conjunction with the Q2 2016 report, the Group¡¯s segment reporting will be specified into automotive and industrial customers. Restated figures for 2014, 2015 and Q1 2016 will be provided in advance of the report being published. Aktiebolaget SKF (publ) For further information, please contact: PRESS: Theo Kjellberg, Director, Press Relations tel: 46 31 337 6576, mobile: 46 725-776576, e-mail: theo.kjellberg@skf.com INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations Patrik Stenberg, 46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2015 were SEK 75 997 million and the number of employees was 48 593. www.skf.com ® SKF is a registered trademark of the SKF Group.