SKF AB

At the SKF AB general meeting, Folketrygdfondet, manager of the Government Pension Fund
Norway, voted against item 13.8 for the following reason:

Item 13.8: Elect CEO Rickard Gustavson as a board member
Rationale:
Folketrygdfondet opposes the election of the CEO to the board of directors as a matter of
principle. One of the board’s main tasks is the supervision of company management, which
includes appointment and dismissal of the CEO. Folketrygdfondet considers that board members
can only supervise company management adequately if they are not recruited from among
management. For this reason, we voted against item13.8.
 

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