The SKF Group First-quarter results 2007 Tom Johnstone, President and CEO

Major events 2007 Introduction of new energy-efficient bearings and solutions. Acquisitions: Preventive Maintenance Company Inc. (PMCI), USA ABBA Linear Tech Co., Ltd., Taiwan Automatic Lubrication Systems (ALS), Canada SKF invests SEK 600 million to increase capacity in Göteborg. Sale of forging business in Luchow, Germany

MSEK Net sales14,37113,289 Operating profit1,8861,609 Operating margin13.1%12.1% Profit before taxes1,8251,599 Net profit1,2141,138 Basic earnings per share, SEK Cash flow after investments before financing Cash flow after operating investments before financial items First quarter 2007

Operating margin %

Operating margin % *excluding income from the jointly controlled company Oy Ovako Ab * 11.3*

Operating margin per division Industrial Service Automotive %

Sales in local currencies (excl. structural changes) % change y-o-y

Growth development / local currency % Y-o-Y Acquisitions / Divestments Organic growth

Net sales development per quarter Q1Q2Q3Q4Q1Q2Q3Q4Q Percent y-o-y Volume Structure Price / Mix Sales in local currency Currency Net sales

Cash flow, after investments before financing MSEK Cash out from acquisitions: 2005 MSEK MSEK2, Q1 MSEK214 Cash from Ovako: 2006 Q4 MSEK1,

Cash flow after operating investments before financial items MSEK

Net cash (Short-term financial assets - loans) MSEK AB SKF, dividend paid: 2005 Q2, MSEK 1, Q2, MSEK 1, Q2, Redemption, MSEK 2,

Inventories as % of annual sales % Target, end %

SKF capital structure The AB SKF Board proposes to the AGM in April 2007 to decide on: 1.a 12.5% increase in the dividend, SEK 4.50 per share 2.a share split 2:1 combined with an automatic redemption procedure of one share for SEK 10 3.a mandate to the Board to repurchase up to 5% of the company's share Adding up to a total distribution to shareholders of SEK 6.6 billion

April 2007: Outlook for the second quarter 2007 (compared to the first quarter 2007) The market demand for SKF's products and services in the second quarter of 2007 is expected to be higher for the Group. The demand is expected to be higher in Europe and Latin America, significantly higher in Asia and relatively unchanged in North America. The demand is expected to be higher in the Industrial and Service Division and slightly higher in the Automotive Division. The manufacturing level for the second quarter will be unchanged compared to the first quarter 2007 and significantly higher compared to the second quarter last year.

Volume development Daily volume trend for: Q Q Net sales 2006 Europe 54% North America 20% Asia Pacific 18% Latin America 5% Total Outlook Q vs = * Updated in March 2007 from slightly higher to higher. *

Financial targets – long term Operating margin, level12% Growth in local currencies, per annum 6-8% Return on capital employed24% Gearing around 50% Inventories, by end %

Guidance 2007 Underlying tax level: around 32-33% Financial net Q2: around minus SEK million Full year forecast: around minus SEK 500 million Exchange rates Q2: a negative effect of approximately SEK 200 million Full year: a negative effect of approximately SEK 550 million Additions to property, plant and equipment: slightly above SEK 2 billion Guidance based on current assumptions and exchange rates

Acquisition – ABBA Linear Tech Co., Ltd. Annual turnover: SEK 250 million 400 employees A leading Asian manufacturer of profile rail guides. Price: SEK 400 million for 90% shareholding

Acquisitions 2007 Automatic Lubrication Systems (ALS) Yearly sales: approximately CAD 2 million 13 employees A leading service company to mobile transportation equipment and industrial machinery customers for lubrication systems Preventive Maintenance Company Inc. Annual turnover: USD 10 million 70 employees A market leader in Predicitve maintenance (PdM) services

Bearings and units Acquisitions: New factories: Significant manufacturing expansion: Restructuring: Setting new standards: Bearings and units SNFA SAS, France Dalian, China Shanghai, China Jakarta, Indonesia Busan, South Korea India North America Det Norske Veritas and Germanischer Lloyd announced official verification - SKF Explorer bearings has set a new performance standard. SKF Life Theory - new standard for bearing life calculations. Brazil Mexico France Sweden

Seals/Mechatronics/Services/Lubrication systems Services Acquisitions: Lubrication systems Safematic lubrication, Finland Automatic Lubrication Systems, Canada Seals Acquisitions: New factories: Significant manufacturing expansion: Mechatronics ABBA Linear Tech Co., Ltd., Taiwan Shanghai, China Precision Balancing & Analyzing, USA Monitek Australia, Australia Preventive Maintenance Company Inc., USA Macrotech Polyseal Inc., USA Economos Austria GmbH, Austria Taegu, Korea Bulgaria India Mexico

SKF Energy efficient bearings Providing a minimum of 30% reduction in energy consumption. Deep groove ball bearings Taper roller bearings

Energy-efficient solutions SKF actuators in spot welding cut energy use by more than 90% in welding robots. SKF actuators in buildings cut energy use by 30-50%. SKF magnetic bearings in gas compressors reduce energy by 90%. SKF throttle-by-wire reduces fuel use by 5% in business jets. SKF Client Energy and Environment Analysis (CEEA) is a web-based tool that identifies high-energy consumption areas within an operation.

Cautionary statement This report 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 20-F report on file with the SEC (United States Securities and Exchange Commission) under "Forward-Looking Statements" and "Risk Factors".