20 April 2010

First-quarter results 2010 Tom Johnstone, President and CEO The SKF Group First-quarter results 2010 Tom Johnstone, President and CEO

Key points, Q1 report Strong operating profit and margin SEK 1,702 m versus SEK 768 m previous year 11.8% versus 5.2% previous year Production levels increased during the quarter Significantly higher year over year. Sales in local currency: Industrial Division: -12.1% Service Division: +8.2% Automotive Division: +26.2% Negative price/mix influenced by higher automotive sales versus industrial market. Improving demand outlook for Q2 Significantly higher compared to Q2 2009 Slightly higher sequentially compared to Q1 2010 Manufacturing level Significantly higher year over year Higher compared to average Q1 2010 20 April 2010

Highlights 2010 Inauguration of two new factories in India: - The Haridwar factory will manufacture deep groove ball bearings and primarily serve the two-wheeler market and the vehicle service market in India. Total investment: around SEK 250 million. - The Ahmedabad factory will manufacture medium to large size bearings of various types to serve customer segments such as wind energy and heavy industries. Total investment: around SEK 450 million. A programme was concluded in March for adjusting the manufacturing capacity in Gothenburg, Sweden. The total cost of these activities is around SEK 90 million and the benefit of these actions will be around SEK 50 million per year. The ninth SKF Solution Factory was inaugurated in Houston, USA Photos 20 April 2010

Sales volume % change y-o-y 2008 2009 2010 20 April 2010

Sales in local currencies (excl. structural changes) % change y-o-y 2008 2009 2010 20 April 2010

Growth in local currency (Organic growth + acquisition/divestments) Long-term target level: 6-8% per annum % y-o-y 7.1% 5.0% -19.0% Organic growth Acquisitions/Divestments 20 April 2010

Growth development by geography Local currency Q1 2010 vs Q1 2009 Europe -6% North America +1% Asia/Pacific +34% Latin America +21% Middle East & Africa +11% 20 April 2010

Components in net sales 2008 2009 2010 Percent y-o-y Q1 Q2 Q3 Q4 4.9 6.2 2.7 -13.0 -26.9 -30.8 -24.9 -14.1 5.3 1.0 1.3 0.5 2.4 1.4 1.1 1.2 0.4 0.0 3.8 4.0 6.4 8.5 7.1 5.6 3.7 0.3 -0.3 9.7 11.5 9.6 -2.1 -18.4 -24.1 -20.0 -13.4 5.0 -1.2 -4.1 -0.9 10.3 13.6 12.2 6.6 -1.4 -7.7 7.4 8.7 8.2 -4.8 -11.9 -14.8 -2.7 Volume Structure Price / Mix Sales in local currency Currency Net sales 20 April 2010

Operating profit 2008 2009 2010 SEKm Restructuring and one-time items 20 April 2010

Operating margin 2008 2009 2010 Long-term target level: 12% % Restructuring and one-time items 20 April 2010

Operating margin Long-term target level: 12% % 12.7* 12.4* 12.2 11.8 8.0* 5.7 Restructuring and one-time items * Excluding restructuring and one-time items 20 April 2010

Operating margin per division % Service Industrial Automotive 2008 2009 2010 Excluding one-off items (eg. restructuring, impairments, capital gains) 20 April 2010

First quarter 2010 2010 2009 Net sales 14,446 14,849 Operating profit SEKm 2010 2009 Net sales 14,446 14,849 Operating profit 1,702 768 Operating margin, % 11.8% 5.2% Operating margin excl. restructuring, % 12.4% 6.4% Profit before taxes 1,504 531 Net profit 1,070 394 Basic earnings per share, SEK 2.27 0.86 Cash flow after investments before financial items 32 523 20 April 2010

Inventories as % of annual sales Long-term target level: 18% % 2008 2009 2010 20 April 2010

Cash flow, after investments before financial items SEKm Cash out from acquisitions* (SEKm): 2008 1,284 2009 241 2008 2009 2010 * including non-controlling interests. 20 April 2010

Return on capital employed Long-term target level: 24% % 24.0 11.9 9.1 ROCE: Operating profit plus interest income, as a percentage of twelve months average of total assets less the average of non-interest bearing liabilities. 20 April 2010

Net debt (Short-term financial assets minus loans and post-employment benefits) SEKm AB SKF, dividend paid (SEKm): 2008 Q2 2,277 2009 Q2 1,594 2010 Q2 proposed 1,594 Redemption (SEKm): 2008 2009 2010 20 April 2010

SKF capital structure The AB SKF Board proposes the Annual General Meeting to decide on: a dividend of SEK 3.50 per share a mandate to the Board to repurchase a maximum of 5% of the company's own shares 20 April 2010

Volume trends (based on current assumptions) Net sales 2009 Europe 51% North America 17% Asia Pacific 23% Latin America 6% Total Daily volume trends for: Q1 2010 Q2 2010 Outlook Q2 2010 vs 2009 ++ +++ 20 April 2010

Sequential volume trend main segments Q2 2010 (based on current assumptions) Net sales 2009 7% 14% 5% 22% 16% 12% 11% 3% Aerospace Cars Energy Railway Industrial distribution Industrial OEM, General+Special Vehicle Service Market Industrial OEM, Heavy + Off-highway Trucks Electrical and two-wheeler 20 April 2010

Volume trends, Divisions (based on current assumptions) Net sales 2009 Industrial 34% Service 35% Automotive 29% Total Daily volume trends for Q2 2010 Outlook Q2 2010 vs 2009 + +++ 20 April 2010

March 2010: Outlook for the second quarter 2010 Sales development compared to second quarter last year The demand for SKF products and services is expected to be significantly higher for the Group in total. In Europe and North America it is expected to be higher and in Asia and Latin America significantly higher. It is expected to be slightly higher for the Industrial Division and significantly higher both for the Service Division and Automotive Division. Sales development compared to the first quarter 2010 The demand is expected to be slightly higher for the SKF Group in total. In Europe and North America it is expected to be slightly higher and in Asia and Latin America higher. For both the Industrial Division and Service Division it is expected to be slightly higher and for the Automotive Division higher. Manufacturing level The manufacturing level will be significantly higher year on year and higher compared to the average of the first quarter 2010. 20 April 2010

Guidance for the second quarter 2010 Tax level: around 30% Financial net for the second quarter: Around SEK -150 million Exchange rates on operating profit versus 2009 Q2: SEK -200 million Full year: SEK -500 million Additions to PPE: Around SEK 1.5 billion for 2010 Guidance is approximate and based on current assumptions and exchange rates. 20 April 2010

SKF Care and Six Sigma as guiding lights Key focus areas ahead 2010 Profit and cash flow Adjustment of manufacturing output to new demand levels Growing segments and geographies Strengthening the platform/segment approach Competence development SKF Care and Six Sigma as guiding lights 20 April 2010

SKF Care Business Care Employee Care SKF Care Environmental Care Operating margin SKF Care BeyondZeroTM Environmental Care Community Care 20 April 2010

SKF Group Vision To equip the world with SKF knowledge 20 April 2010

Cautionary statement This presentation contains forward-looking statements that are based on the current expectations of the management of SKF. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors mentioned in SKF's latest annual report (available on www.skf.com) under the Administration Report; “Important factors influencing the financial results", "Financial risks" and "Sensitivity analysis”. 20 April 2010

20 April 2010