The Board of Directors has in accordance with the principles of the Code established a People Committee.

The purpose of the People Committee is primarily to oversee people related topics of the SKF Group, such as talent management, succession planning and employee wellbeing, and to serve as a remuneration committee preparing the Board’s decisions on issues concerning principles for remuneration, remuneration and other terms of employment for the President and Group Management, monitoring and evaluating programmes for variable remuneration as well as the Company’s application of the principles for remuneration as established by the annual general meeting.

The People Committee consists of the Chair of the Board, Hans Stråberg, as Chair, the Vice Chair of the Board, Håkan Buskhe, and the Board members Susanna Schneeberger and Niko Pakalén.

The Board of Directors has in accordance with the principles of the Swedish Companies Act and the Code appointed an Audit and Sustainability Committee.

The purpose of the Audit and Sustainability Committee is primarily to oversee the financial and the sustainability reporting as well as the financial audit and the sustainability reporting review processes of the SKF Group, to oversee the adequacy of the Group’s controls for compliance with laws and regulations, and to review the Group’s sustainability position and information security posture.

The Audit and Sustainability Committee consists of the Board member Richard Nilsson, as Chair, the Chair of the Board, Hans Stråberg, the Vice Chair of the Board, Håkan Buskhe, and the Board members Geert Follens and Niko Pakalén.