Notice of Annual General Meeting

GOTHENBURG, Sweden, March 18, 2026 /PRNewswire/ — Notice is hereby given that the Annual General Meeting of AB SKF will be held 14.00 on Tuesday 21 April 2026 at Elite Park Avenue Hotel, Kungsportsavenyn 36-38, Gothenburg, Sweden. The doors are open from 13.00. Light refreshments will be served prior to the Annual General Meeting between 13.00 and 14.00.

A summary of the President’s address will be available at the company’s website, www.skf.com, after the Annual General Meeting.

Preconditions for participation

A. Shareholders who wish to participate at the Annual General Meeting by postal voting must

• be recorded in the shareholders’ register kept by Euroclear Sweden AB as per Monday 13 April 2026, and
• notify its intention to participate by casting its postal vote in accordance with the instructions under the heading Postal voting below so that the postal voting is received by Computershare AB no later than Wednesday 15 April 2026.

B. Shareholders who wish to participate at the Annual General Meeting in person or by proxy in the meeting room must

• be recorded in the shareholders’ register kept by Euroclear Sweden AB as per Monday 13 April 2026, and
• notify the company of its intention to participate no later than Wednesday 15 April 2026,
  • via the company’s website, www.skf.com, or
  • by phone +46 31 337 25 50 (weekdays between 09.00 and 16.00), or
  • via e-mail to [email protected] (use «AGM 2026 of AB SKF» as subject), or
  • by letter to Computershare AB, «AGM 2026 of AB SKF», Box 149, 182 12 Danderyd, Sweden.

When notifying the company include details of name, address, telephone number, social security number and number of advisors, if any.

To be entitled to participate in the Annual General Meeting, a shareholder whose shares are held in the name of a nominee must, in addition to providing notification of participation, register its shares in its own name so that the shareholder is recorded in the shareholder’s register as per Monday 13 April 2026. Such registration may be temporary (so-called voting right registration) and is requested from the nominee in accordance with the nominee’s procedures and in such time in advance as the nominee determines. Voting right registrations completed by the nominee not later than Wednesday 15 April 2026 are taken into account when preparing the shareholder’s register.

Participation in person or by proxy

Shareholders who wish to attend in the meeting room, in person or by proxy, must notify its intention in accordance with B) above. This means that notice by postal voting only is not enough for anyone who wishes to attend in the meeting room.

Where representation is being made by proxy, the proxy form shall be sent to the company to the above address or by e-mail to [email protected] before the Annual General Meeting. If the shareholder is a legal entity, a certificate of incorporation or a corresponding document of authority shall be enclosed.

Postal voting

A special form shall be used for postal voting. The form is available on the company’s website, www.skf.com.

The completed and signed voting form must be received by SKF through Computershare AB no later than Wednesday 15 April 2026. Shareholders may cast their postal votes electronically through Swedish BankID verification via SKF’s website www.skf.com. The form may also be submitted by post to Computershare AB, «AGM 2026 of AB SKF», Box 149, 182 12 Danderyd or via e-mail to [email protected]. Shareholders who are represented by a proxy holder shall submit a proxy form enclosed to the voting form. If the shareholder is a legal entity, a certificate of incorporation or a corresponding document of authority shall be enclosed to the form.

Shareholders are not permitted to add special instructions or conditions to their postal votes. If this is done, the vote (i.e. the postal vote in its entirety) will be invalid. Further instructions and conditions can be found on the postal voting form.

For questions about the meeting or to have the postal voting form sent by post, please contact Computershare AB on telephone +46 31-337 25 50 or via e-mail to [email protected].

Agenda

Proposal under item 10

The Board of Directors proposes a dividend of SEK 7.75 per share to be paid in two instalments. The first instalment amount is proposed to SEK 4.00 per share with a record date on Thursday 23 April 2026, and the second instalment amount to SEK 3.75 per share with a record date on Thursday 15 October 2026. Subject to resolution by the Annual General Meeting in accordance with this proposal, it is expected that Euroclear will distribute the first instalment on Tuesday 28 April 2026, and the second instalment on Tuesday 20 October 2026.

Proposals under items 2, 12, 13, 14, 15, 17 and 18

The Nomination Committee formed according to a resolution of the Annual General Meeting 2020 to represent all shareholders of the company consists of, besides the Chair of the Board of Directors, members elected by FAM, Cevian Capital, AFA Försäkring and Skandia, shareholders who together represent around 40% of the total number of votes in the company. The Nomination Committee proposes the following:

• Item 2 – that Justice of the Supreme Court Erik Sjöman is elected Chair of the Annual General Meeting;
• Item 12 – that the Board of Directors shall consist of twelve members;
• Item 13 – that the Board members elected by the Annual General Meeting and not employed by the company, for the period up to the end of the next Annual General Meeting, receive a fee according to the following:a. SEK 3,250,000 to the Chair of the Board of Directors,b. SEK 1,625,000 to the Vice Chair(s) of the Board of Directors, andc. SEK 1,060,000 to each of the other Board members,of which 30 percent shall be converted and consist of a variable Board fee in accordance with the terms for variable Board fee (synthetic shares) 2026 available on the company’s website www.skf.com among the Nomination Committee’s complete proposals;d. SEK 410,000 to the Chair of the Audit and Sustainability Committee,e. SEK 295,000 to each of the other members of the Audit and Sustainability Committee,f. SEK 235,000 to the Chair of the other Committees, andg. SEK 175,000 to each of the other members of the other Committees;and that a special meeting fee be paid to Board members elected by the Annual General Meeting and not employed by the company for travel to a physical Board meeting in Sweden according to the following:h. EUR 5,000 for intercontinental travel, andi. EUR 2,000 for continental travel outside of the country of the Board member’s residence;
• Item 14 – that Hans Stråberg, Hock Goh, Geert Follens, Håkan Buskhe, Rickard Gustafson, Beth Ferreira, Therese Friberg, Richard Nilsson, Niko Pakalén and Mats Rahmström are re-elected as Board members. It is proposed that Karen Florschütz and Maximiliane Straub are newly elected;
• Item 15 – that Hans Stråberg is re-elected as the Chair of the Board of Directors;A presentation of the proposed Board can be found at the company’s website www.skf.com.
• Item 17 – that the auditor is paid for work performed according to approved invoice; and
• Item 18 – that, in accordance with the Audit and Sustainability Committee’s recommendation and the Nomination Committee’s proposal, the registered firm of auditors Deloitte AB is re-appointed as auditor for a period of two years until the close of the Annual General Meeting 2028.

Proposal under item 16

The Board of Directors proposes that the Annual General Meeting resolve to amend the Articles of Association to adjust the term of office for the appointed auditor through adjustments to § 9. The proposed change is outlined in the proposal for the new Articles of Association, which is available on the company’s website, www.skf.com, among the Board’s complete proposals.

Proposal under item 19

The Board of Directors of AB SKF («SKF») has decided to submit the following guidelines for remuneration to senior executives to the Annual General Meeting 2026.

Scope

These guidelines apply to remuneration to SKF’s President and the other members of the management team (collectively «Group Management»). The guidelines shall apply to remuneration agreed after the adoption of the guidelines by the Annual General Meeting 2026, as well as to amendments to existing agreements thereafter. These guidelines do not apply to any remuneration resolved by the Shareholders’ Meeting.

The guidelines’ promotion of SKF’s business strategy and long-term interests, including its sustainability

A prerequisite for the successful implementation of SKF’s business strategy and safeguarding of its long-term interests, including its sustainability, is that SKF is able to recruit and retain qualified personnel. To this end, it is necessary that SKF offers competitive remuneration. These guidelines enable SKF to offer the Group Management a competitive total remuneration and at the same time support the shareholders’ best interests. Variable salary covered by the guidelines shall be linked to predetermined and measurable criteria, aiming to promote the SKF Group’s business strategy and long-term interests, including its sustainability. For further information on SKF Group’s strategy, please refer to skf.com and the Annual Report.

Since 2008, SKF’s Annual General Meeting has resolved each year upon a performance share programme for senior managers and key employees, including Group Management. Since the performance share programmes have been resolved by the Shareholders’ Meeting, they are excluded from these guidelines. SKF’s performance share programme shall have the aim to link the long-term interests of its participants and the shareholders. The performance criteria used to assess the outcome of the performance share programme shall be linked to the business strategy and thereby to SKF Group’s long-term value creation, including its sustainability. For further information on SKF’s performance share programmes, including the criteria on which the outcome depends, please refer to the Board of Directors’ proposal to each Annual General Meeting.

Types of remuneration

The total remuneration package for a Group Management member shall consist of the following components: fixed salary, variable salary, pension benefits, and other benefits such as a company car. The components shall create a well-balanced remuneration reflecting individual performance and responsibility as well as the SKF Group’s overall performance. The Shareholders’ Meeting may also – irrespective of these guidelines – resolve on other remuneration components, e.g. SKF’s performance share programme.

For employments governed by rules other than Swedish, remuneration may be duly adjusted for compliance with mandatory rules or established local practice, taking into account, to the extent possible, the overall purpose of the guidelines.

In addition to remuneration set out above, Group Management members who are expatriates to or from their home country, or who work in multiple countries, may receive additional remuneration and other benefits to the extent reasonable in light of the special circumstances associated with the cross border arrangement, taking into account, to the extent possible, the overall purpose of these guidelines and the general policies and practices within the SKF Group applicable to cross border work.

Fixed salary

The fixed salary of a Group Management member shall be at a market competitive level. It shall be based on competence, responsibility, experience and performance. The SKF Group shall use an internationally well-recognized evaluation system, in order to evaluate the scope and responsibility of the position. Market benchmarks shall be conducted on a yearly basis. The performance of Group Management members shall be continuously monitored during the year and shall be used as a basis for annual reviews of fixed salaries.

Variable salary

The variable salary of a Group Management member shall run according to a performance-based programme. The purpose of the programme shall be to motivate and compensate value-creating achievements in order to support operational, financial and sustainability targets and thereby promote the SKF Group’s business strategy and long-term interests, including its sustainability.

The performance-based programme shall have predetermined and measurable criteria which can be both financial and non-financial and which contribute to SKF’s long-term and sustainable development. The criteria shall primarily be based on the annual financial performance of the SKF Group, such as financial result, growth and capital efficiency, or shall promote sustainability targets of the SKF Group.

The satisfaction of criteria for awarding variable salary shall be measured over a period of one year. The extent to which the criteria for awarding variable salary have been satisfied shall be determined when the measurement period has ended. The Board of Directors is responsible for the evaluation so far as it concerns variable salary to the President. For variable salary to other members of Group Management, the President is responsible for the evaluation. For financial targets, the evaluation shall be based on financial information made public by SKF. The maximum variable salary may not amount to more than 70% of the annual fixed salary.

Further variable salary may be awarded in extraordinary circumstances, provided that such extraordinary arrangements are limited in time and only made on an individual basis, either for the purpose of recruiting or retaining Group Management members, or as remuneration for extraordinary performance beyond the individual’s ordinary tasks. Such remuneration may not exceed an amount corresponding to 100% of the annual fixed salary and may not be paid more than once each year per individual. Any resolution on such remuneration to the President shall be made by the Board of Directors based on a proposal from the People Committee, and any resolution on such remuneration to other Group Management members shall be made by the Chair of the Board of Directors based on a proposal from the President.

The Board of Directors shall have the possibility, under applicable law or contractual provisions and subject to the restrictions that may apply under law or contract, to:

Other benefits

The SKF Group may provide other benefits to Group Management members in accordance with local practice. Other benefits can for instance be a company car or health care and medical insurance (Sw. sjukvårdsförsäkring). Premiums and other costs relating to such benefits shall depend on and follow local conditions and local practice but shall represent a limited value and may not amount to more than 10% of the annual fixed salary.

Pension

Pension plans, including health insurance (Sw. sjukförsäkring), shall be based on defined contribution models unless a defined benefit pension plan is required by mandatory law or collective agreement provisions. Variable salary shall qualify for pension benefits to the extent required by mandatory law or collective agreement provisions.

In addition to the base pension plan (for Swedish members usually the ITP pension plan), a Group Management member shall generally be covered by a supplementary defined contribution pension plan. By offering this supplementary defined contribution plan, it is ensured that Group Management members are entitled to earn pension benefits based on the annual fixed salary above the level of the base pension.

The total cost of the premiums for a Group Management member’s base defined contribution pension plan (including health insurance) and supplementary pension plan may not amount to more than 40% of the annual fixed salary.

Notice of termination and severance pay

The notice period may not exceed six months if notice of termination of employment is given by SKF. Fixed salary during the notice period and severance pay may together not exceed an amount corresponding to the fixed salary for two years. When termination is given by the Group Management member, the notice period may not exceed six months, without any right to severance pay.

Remuneration for a non-compete undertaking may be paid to cover lost income, but not during period with severance pay. Unless required by mandatory law or collective agreement, it cannot exceed 60% of the fixed monthly salary at termination and is limited to 18 months for the President and 12 months for other Group Management members.

Salary and terms of employment for employees

When preparing these guidelines, the Board of Directors has paid regard to the salary and terms of employment of SKF’s employees. Information about employees’ total remuneration, the components of the remuneration and the growth and growth rate over time have been part of the basis for the Board of Directors’ and the People Committee’s evaluation of the fairness of the guidelines for remuneration and the limitations which the guidelines entail. The Board of Directors has also considered SKF’s People Policy.

The decision-making process to determine, review and implement the guidelines

The Board of Directors has established a People Committee. The People Committee prepares all matters relating to the guidelines for remuneration to senior executives, as well as the terms of employment for the President. The Board of Directors must approve the terms of employment for the President.

The guidelines for remuneration to senior executives are presented by the People Committee to the Board of Directors that, at least every fourth year, submits a proposal for such guidelines to the Annual General Meeting for approval. The guidelines for remuneration shall be valid until new guidelines have been adopted by the Shareholders’ Meeting. The People Committee shall also monitor and evaluate programmes for variable remuneration for Group Management, the application of the guidelines for remuneration to senior executives and applicable remuneration structures and levels of the SKF Group.

The members of the People Committee are independent of the SKF Group and Group Management. The President and other members of Group Management shall not be present when the Board of Directors process and resolve on remuneration related matters in so far as they are affected by such matters.

The Board of Directors’ right to derogate from the guidelines for remuneration

The Board of Directors may temporarily resolve to derogate from these guidelines, in whole or in part, if in a specific case there is special cause for the derogation and a derogation is necessary to serve SKF’s long-term interests, including its sustainability, or to ensure SKF’s financial viability. As set out above, the People Committee’s tasks include preparing the Board of Directors’ resolutions in remuneration related matters. This includes any resolutions to derogate from the guidelines.

Description of material changes to the guidelines

In comparison with the guidelines decided by the Annual General Meeting 2022, the proposed guidelines have been updated in order to:

• Enable the award of additional variable salary in extraordinary circumstances, provided that such extraordinary arrangements are limited in time and only made on an individual basis, either for the purpose of recruiting or retaining Group Management members, or as remuneration for extraordinary performance beyond the individual’s ordinary tasks.
• Broaden the possibility to make adjustments for employments governed by rules other than Swedish to comply with mandatory rules or established local practice.
• Allow for additional remuneration and benefits to be granted to expatriates relocating to or from their home country, to increase flexibility and improve retention and attraction of key employees.
• Clarify that the Board of Directors may reduce or reclaim variable remuneration, in whole or in part, under certain circumstances, to strengthen accountability and protect shareholders’ interests.
• Clarify the pension provisions and remove the provision on pensionable age.
• Amend the provisions regarding termination of employment and related compensation, including allowing for compensation for non-compete undertakings.

Finally, certain editorial changes and clarifications have been made for increased clarity and improved structure.

The Board of Directors considers the revisions to reflect the general interest of the shareholders.

Proposal under item 20

The Board of Directors has prepared a Remuneration report which is presented and proposed to be approved by the Annual General Meeting. The Remuneration report is available on the company’s website, www.skf.com.

Proposal under item 21

The main contents of the Board of Directors’ proposal are stated below. The complete proposal is available at the company’s website, www.skf.com.

Background information

At the Annual General Meeting in 2008 the SKF Group introduced a long-term performance share programme for senior managers and key employees. Since 2008, the Annual General Meeting has resolved each year upon a performance share programme.

The Board of Directors’ proposed decision

The Board of Directors proposes – to continue to link the long-term interests of the participants and the shareholders, strengthening the SKF Group’s ability to attract and retain great talent and to contribute to the SKF Group’s business strategy, its long-term interests and sustainability – that a decision be taken at the Annual General Meeting 2026 on SKF’s Performance Share Programme 2026.

The programme is proposed to cover senior managers and key employees in the SKF Group with an opportunity to be allotted, free of charge, SKF B shares in accordance with the following principal terms and guidelines. Under the programme, not more than in total 1,000,000 SKF B shares may be allotted.

The allotment of shares shall be related to the level of achievement of the Total Value Added (TVA) target, as defined by the Board of Directors, and the SKF Group’s CDP Climate Change score. The TVA performance measure is weighted 80% and the CDP Climate Change score performance measure is weighted 20%.

TVA performance measure

TVA is a simplified economic value-added model promoting greater operating profit, capital efficiency and profitable growth. TVA is the adjusted operating profit, less the pre-tax cost of capital.

Over the three-year programme period (2026-2028), the TVA performance target range is set annually by the Board of Directors against the baseline of the actual TVA achieved in the previous year. The overall performance achievement for the TVA performance measure of the programme is the average achievements of the annual TVA targets. For allocation of shares to take place, the average TVA development must exceed a certain minimum level (the threshold level). In addition to the threshold level, a target level is set. Maximum allotment is awarded if the target level is reached or exceeded. By way of example, if the TVA achievement year 1 is 80%, year 2 is 100% and year 3 is 0%, the overall performance achievement of the programme would then be 60% ((80%+100%+0%) / 3).

CDP Climate Change score performance measure

CDP is a global non-profit organization known for its assessments and scoring methodology to evaluate companies’ disclosure and performance relating to climate change and environmental impact. The CDP Climate Change score is based on an extensive questionnaire requiring disclosure and performance mainly in the following categories: Targets, Business Strategy, Dependencies, Impacts, Risks and Opportunities Process, Verification (Incl. Emissions), Governance, Energy, Risk Disclosure, Scope 1 & 2 Emissions, Scope 3 Emissions, Emissions Reduction Initiatives And Low Carbon Products, Opportunity Disclosure, Value Chain Engagement and Public Policy Engagement and Industry Collaboration.

This comprehensive assessment and the resulting score are known across the investor and customer communities as a credible third-party view on companies’ approaches to climate change.

The score ranges from A (leadership level) to D- (disclosure level). For the third consecutive year SKF received an A score in 2025, which is the top rating. Out of nearly 20,000 companies that were scored by CDP in 2025, only 4% received an A rating.

The overall performance achievement for the CDP Climate Change score is the weighted average of the annual performance achievement, based on the criteria in the table.

CDP Score Performance achievement

A 100 %

A- 75 %

B 50 %

B- 25 %

For example, if SKF’s CDP score is B in year 1, A- in year 2 and A in year 3, the overall performance achievement for the full programme period is 75% ((50%+75%+100%) / 3). In case SKF has not been awarded a CDP score in time for the delivery of shares, the overall performance measure is the weighted average of the annual performance achievements for CDP scores that have been awarded during the performance period.

Award

Provided that the performance measures of the programme are fully met, the participants may be allotted shares up to the following maximum per person within the various key groups:

• CEO and President – shares corresponding to a value of 75% of the fixed base salary
• Other members of Group Management – shares corresponding to 55% of the fixed base salary or 13,000 shares, whichever is higher
• Other senior managers and key persons – up to maximum 4,500 shares dependent on their role and local market practice

If the total outcome of the programme exceeds the threshold level for allotment of shares but the final allotment is below 5% of the target level, payment will be made in cash instead of shares, whereupon the amount of the cash payment shall correspond to the value of the shares calculated on the basis of the closing price for SKF’s B share the day before settlement.

If all the conditions included in SKF’s Performance Share Programme 2026 are met, allotment of shares shall be made free of charge following the expiry of the three-year performance period, i.e. during 2029.

Before the number of shares to be allotted is finally determined, the Board of Directors shall examine whether the allotment is reasonable considering SKF’s financial results and position, the conditions on the stock market as well as other circumstances, and if not, as determined by the Board of Directors, reduce the number of shares to be awarded to the lower number of shares deemed appropriate by the Board of Directors.

The Board of Directors is furthermore entitled to introduce an alternative incentive solution for employees in countries where participation in SKF’s Performance Share Programme 2026 is not appropriate. Such alternative incentive solution shall, as far as practicable, be formulated employing the same conditions as SKF’s Performance Share Programme 2026.

Costs of SKF’s Performance Share Programme 2026

The company has 455,351,068 shares in issue when this notice is issued. To comply with the obligations of SKF’s Performance Share Programme 2026, a maximum number of 1,000,000 B shares are required, corresponding to approximately 0.2% of the total number of outstanding shares.

Assuming maximum allocation under the Performance Share Programme 2026 and a share price of SEK 220, the cost, including social security cost, is estimated at approximately MSEK 264. Based on a share price of SEK 310, the cost, including social security cost, is estimated at approximately MSEK 372. In addition, the administrative costs are estimated at approximately MSEK 2. For information on allotment under previous programmes, please see the Board’s full proposal on the company’s webpage www.skf.com.

Hedging actions and dilution

The Board does not propose for the time being to take any action to hedge the SKF Group’s obligations under the programme. Delivery of shares under the programme shall not take place until 2029. The programme does not entail any dilution of the company’s shares.

Number of shares and votes, and documentation

When this notice is issued, the total number of shares in the company are 455,351,068, represented by 28,918,320 series A shares and 426,432,748 series B shares, with a total number of votes of 71,561,594.8. The company holds no own shares.

The annual report including the sustainability report, the audit and assurance report, the remuneration report, statements of the auditor, the Board of Directors’ complete proposals according to items 16, 19, 20 and 21 of the agenda together with the Nomination Committee’s reasoned statement and terms for variable Board fees will be available at the company’s headquarters at Sven Wingquists gata 2, SE-415 05 Gothenburg, and at the company’s website, www.skf.com, no later than from 31 March 2026 and will be sent to shareholders who request this and state their address. Such request shall be made to Computershare AB by phone, email, or letter as set out under the heading «Preconditions for participation», section B) above.

Information at the Annual General Meeting, etc.

The Board of Directors and the President shall, upon request by any shareholder and where the Board of Directors believes that it may take place without significant harm to the company, provide information in respect of any circumstances which may affect the assessment of a matter on the agenda, any circumstances which may affect the assessment of the company’s or a subsidiary’s financial position and the company’s relationship to other group companies. Anyone who wishes to dispatch questions in advance may do so to AB SKF, Att. General Counsel, SE-415 50 Gothenburg, Sweden, or by e-mail: [email protected].

SKF’s web-based annual report in English was made public on 6 March 2026.

Proxy forms will be available at the company’s website, www.skf.com, and may also be requested by letter to Computershare AB, «AGM 2026 of AB SKF», Box 149, 182 12 Danderyd, Sweden or by phone +46 31-337 25 50.

Gothenburg, March 2026Aktiebolaget SKF(publ)Reg. no 556007-3495The Board of Directors

Visit to SKF’s factory in Gamlestaden, Gothenburg

Shareholders are welcome to visit SKF’s factory in Gamlestaden, Gothenburg, in connection with the Annual General Meeting on Tuesday 21 April 2026 at 10.00. Shareholders that wish to participate shall notify his/her name and contact details (preferably email address alternatively a cell phone number) to: SKF Sverige AB, Att: Lars Werner, 415 50 Gothenburg alternatively via email to: [email protected]. Please note that the number of participants is limited.

Processing of Personal Data

For information on AB SKF’s processing of personal data in connection with a General Meeting, please see https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf. If you have any questions related to AB SKF’s processing of your personal data, you are welcome to contact us by using the information in the Notice to the General Meeting or the information below.

[email protected]

AB SKF (publ)Att: Data Protection OfficerSE-415 50 GothenburgSweden

For further information, please contact:
Press Relations: Carl Bjernstam, +46 31-337 2517; +46 722 201 893; [email protected] Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; [email protected]

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