AB SKF's Board of Directors Proposes Changed Dividend

GÖTEBORG,Sweden,March 24,2020 -- As a precautionary measure in this uncertain economic environment,the Board of Directors of AB SKF has decided to propose to the Annual General Meeting that the dividend be changed from SEK 6.25 per share to SEK 3.00 per share.

The Board's current intention is to call for an extraordinary general meeting during the second half of the year to consider and decide upon the remaining dividend payment.

SKF's financial strength,liquidity and overall position is strong. The proposal announced today reflects the Board's ambitions to make sure SKF continues to be able to act in a decisive way to counteract the impact of actions taken by authorities and customers in this uncertain situation.

Aktiebolaget SKF(publ)

The information in this press release is information which cis required to disclose under the EU Market Abuse Regulation (EU) No 596/2014 The information was provided by the above contact persons for publication on 23 March 2020 at 18:30.

CONTACT:

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

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