April 27, Atlas Copco Group Q1 Results April 27, 2006

April 27, Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

April 27, Q1 - Highlights  Very strong start of 2006  Strong growth in all Business Areas and regions –Good demand combined with improved market position  Record profit and margins for a first quarter  The divestment process of the equipment rental business is progressing according to plan

April 27, Q1 - Figures in summary  Orders received up 39%, +22% in volume  Revenues up 33% to MSEK , up 17% in volume  Operating profit up 63% to MSEK 2 771, a margin of 18.6% (15.2)  Profit before tax at MSEK (1 709), a margin of 17.5% (15.3)  Basic earnings per share were SEK 2.83 (1.90), up 49%  Operating cash flow totaled MSEK 536 (1 017)  ROCE at 30% Including discontinued operations

April 27, Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

April 27, Orders received - Local currency Group total +26% YTD – Group excluding Rental Service +28% YTD (Structural change +2% YTD) March 2006 AB A =Portion of sales, last 12 months, % B =Year-to-date vs. prev. year, % Continuing operations

April 27, Q1 - The Americas  Strong demand in North America –Increased demand from manufacturing and process industries as well as from the construction industry –High activity in the mining industry  Healthy demand in South America –Mining and motor vehicle industry somewhat slower March 2006 AB A =Portion of sales, last 12 months, % B =Year-to-date vs. prev. year, % Continuing operations

April 27, Q1 - Europe and Africa/Middle East  Improvement in Europe –Increased demand for industrial and construction equipment –Positive development in most major markets  Very positive development in the Africa / Middle East region March 2006 AB A =Portion of sales, last 12 months, % B =Year-to-date vs. prev. year, %

April 27, Q1 - Asia and Australia  Increased demand in Asia –Very good development for industrial equipment – compressors and tools –Strong growth in all major markets Japan, India, South Korea and China March 2006 AB A =Portion of sales, last 12 months, % B =Year-to-date vs. prev. year, %

April 27, Volume Growth per Quarter  Change in orders received in % vs. same Quarter previous year Including discontinued operations

April 27, Atlas Copco Group – Sales Bridge

April 27, Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

April 27, Atlas Copco Group Operating Profit and Return On Capital Employed (ROCE) by Business Areas

April 27, Compressor Technique  Very strong order growth –Highest in North America and Asia, robust in Western Europe –Strong order intake for all types of compressors  Steady positive development of aftermarket  Operating profit up 40%. Margin above 20% –Supported by positive volume, price and currency development

April 27, Compressor Technique  Operating margins restated (IFRS) from 2004

April 27, Construction and Mining Technique  Strong demand from both mining and construction  Order volume up 24% –16th consecutive quarter with volume growth –Strong growth in North America, Africa / Middle East and Europe  Operating profit doubled  Acquisition of Canadian drilling consumables manufacturer  Launch of first loader, fully developed in Sweden

April 27, Construction and Mining Technique  Operating margins restated (IFRS) from 2004

April 27, Industrial Technique  Order growth resumed after a slow Q  Strong sales to general industry and vehicle service  Mixed development in motor vehicle industry –Good in Asia and North America –Weak in Europe  All-time high revenues, operating profit and margin.

April 27, Industrial Technique  Operating margins restated (IFRS) from 2004

April 27, Rental Service  Rental revenues increased 25% in USD –Price +6%, volume +19%  Fleet utilization at 71% –Seasonal weakness mitigated by high utilization and positive rate development –Increased investments in equipment to support demand and further improve fleet quality  Operating profit up 92%. Including discontinued operations

April 27, Rental Service  Operating margins restated (IFRS) from 2004 Rental Revenue Volume Development, incl. discontinued operations

April 27, Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

April 27, Group Total

April 27, Balance Sheet Including discontinued operations

April 27, Capital Structure Adjusted for IFRS, but including discontinued operations Net Debt/Equity

April 27, Cash Flow

April 27, Capital Expenditures 2005 MSEK Quarterly 12 months Net rental fleet investment = MSEK Tangible Fixed Assets

April 27, Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

April 27, Near-term Outlook The demand for Atlas Copco’s products and services, from all major customer segments such as mining, infrastructure and other non- residential construction, manufacturing and process industry, is expected to remain at the current high level.

30April 27,

31 Cautionary Statement “Some statements herein are forward-looking and the actual outcome could be materially different. In addition to the factors explicitly commented upon, the actual outcome could be materially effected by other factors like for example, the effect of economic conditions, exchange-rate and interest-rate movements, political risks, impact of competing products and their pricing, product development, commercialization and technological difficulties, supply disturbances, and the major customer credit losses.”