1. Atlas Copco Group Q4 Results February 3, 2003

2. Page 2 February 3, 2003www.atlascopco-group.com Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2002 Summary  Outlook

3. Page 3 February 3, 2003www.atlascopco-group.com Q4 Highlights  Order volumes up 2%  Strong growth in high potential markets  Profit after financial items MSEK 1,254 (1,054)  Good margins in spite of negative currency effects  Stable cash flow at high level  Proposed dividend SEK 5.75 (5.50)

4. Page 4 February 3, 2003www.atlascopco-group.com Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2002 Summary  Outlook

5. Page 5 February 3, 2003www.atlascopco-group.com -348 3 +10 2 32 +285 +1910 Orders received Change in Local Currency Portion of Group Sales, % Change in %, Q4 2002 vs. Q4 2001 December 2002 -23 +6 -6 Change in %, 2002 vs. 2001 -18 +25 +1 +13 +8

6. Page 6 February 3, 2003www.atlascopco-group.com -348 -233 Portion of Group Sales, % Change in %, Q4 2002 vs. Q4 2001 December 2002 Q4 - The Americas  No improvement in construction market  Relatively weak demand for investment related products  Low capacity utilization limits demand  Motor vehicle industry invests in productivity and quality  More favorable demand for after- market business  Very weak South America

7. Page 7 February 3, 2003www.atlascopco-group.com +632 +285 Portion of Group Sales, % Change in %, Q4 2002 vs. Q4 2001 Q4 - Europe and Africa/Middle East  Better than expected  Strong growth in Russia and Eastern Europe  The biggest markets suffered from low capacity utilization and low activity levels  Good level for consumables and service  Favorable development in Africa / Middle East December 2002

8. Page 8 February 3, 2003www.atlascopco-group.com +102 +1910 Portion of Group Sales, % Change in %, Q4 2002 vs. Q4 2001 Q4 - Asia and Australia  Continued strong growth in Asia  Increased presence and penetration in China  Positive development in particularly India, South Korea and Australia December 2002

9. Page 9 February 3, 2003www.atlascopco-group.com  Change in orders received in % vs. same Quarter previous year Volume Growth per Quarter

10. Page 10 February 3, 2003www.atlascopco-group.com Group Total

11. Page 11 February 3, 2003www.atlascopco-group.com Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2002 Summary  Outlook

12. Page 12 February 3, 2003www.atlascopco-group.com Compressor Technique  Order volume up 7%  Continued growth for standard industrial compressors  Asia/China strong  Sales increases of oil-free units in Europe  Consistent positive after-market development  Weak market for portable compressors  High profit margin, despite negative currency effects

13. Page 13 February 3, 2003www.atlascopco-group.com Compressor Technique %

14. Page 14 February 3, 2003www.atlascopco-group.com Rental Service  Same store rental volume growth  Total rental volume declined 1%  Continuous weak construction market  Revenues from industrial business improved  Lower sales of used equipment compared with Q4 2001  Stable rental rates vs. Q3 2002  Strong cash flow  Utilization well above last years levels

15. Page 15 February 3, 2003www.atlascopco-group.com Rental Service Rental Revenue Growth %

16. Page 16 February 3, 2003www.atlascopco-group.com Industrial Technique  Order volume up 5%  Industrial tools grew in all major markets  Flat sales of professional electric tools in North America in the quarter  First phase of Milwaukee launch in Europe completed, mitigated weak demand in the region  Operating margin at 11%

17. Page 17 February 3, 2003www.atlascopco-group.com % Industrial Technique

18. Page 18 February 3, 2003www.atlascopco-group.com Construction & Mining Technique  Orders up 5%  Continued good demand from the mining industry  Drilling equipment for surface applications in good demand.  Light construction equipment affected by weak market  Restructuring charge MSEK 68  Negative impact on margins by stronger SEK

19. Page 19 February 3, 2003www.atlascopco-group.com % Construction & Mining Technique

20. Page 20 February 3, 2003www.atlascopco-group.com Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2002 Summary  Outlook

21. Page 21 February 3, 2003www.atlascopco-group.com Income Statement

22. Page 22 February 3, 2003www.atlascopco-group.com Balance Sheet December 31, 2002

23. Page 23 February 3, 2003www.atlascopco-group.com Capital Structure Net Debt/Equity

24. Page 24 February 3, 2003www.atlascopco-group.com Cash Flow

25. Page 25 February 3, 2003www.atlascopco-group.com Capital Expenditures in Tangible Fixed Assets 19981999200020012002 MSEK Quarterly 12 months Net rental fleet investment = MSEK 742

26. Page 26 February 3, 2003www.atlascopco-group.com Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2002 Summary  Outlook

27. Page 27 February 3, 2003www.atlascopco-group.com 2002 Summary  Good performance in spite of tough business environment  Strengthened market position  Strong growth in high-potential markets  Improved manufacturing and supply-chain structure  Strong cash flow

28. Page 28 February 3, 2003www.atlascopco-group.com Earnings per Share and Dividend * Proposed by the Board of Directors ¤ Earnings per share excluding goodwill impairment charge ¤ *

29. Page 29 February 3, 2003www.atlascopco-group.com Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2002 Summary  Outlook

30. Page 30 February 3, 2003www.atlascopco-group.com Near-term Outlook Overall, the demand for Atlas Copco’s products and services is expected to remain unchanged during the coming quarter, but the political situation in the Middle East has increased the uncertainty. Demand for rental equipment in the United States is expected to stay at the present level, adjusted for seasonal weakness in the first quarter.

31. Page 31 February 3, 2003www.atlascopco-group.com The face of interaction

32. Page 32 February 3, 2003www.atlascopco-group.com 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.”

33. Page 33 February 3, 2003www.atlascopco-group.com Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2002 Summary  Outlook  Additional Information

34. Page 34 February 3, 2003www.atlascopco-group.com Long Term Trend  Excluding goodwill impairment charge

35. Page 35 February 3, 2003www.atlascopco-group.com Compressor Technique

36. Page 36 February 3, 2003www.atlascopco-group.com Rental Service  Excluding goodwill impairment charge

37. Page 37 February 3, 2003www.atlascopco-group.com Industrial Technique

38. Page 38 February 3, 2003www.atlascopco-group.com Construction & Mining Technique

39. Page 39 February 3, 2003www.atlascopco-group.com Items Affecting Comparability

40. Page 40 February 3, 2003www.atlascopco-group.com Group Total excl. items affecting comparability

41. Page 41 February 3, 2003www.atlascopco-group.com Return on Capital Employed 12 month values 1999200020012002  Excluding goodwill impairment charge 1998

42. Page 42 February 3, 2003www.atlascopco-group.com Inventories, Customer Receivables and Net Rental Equipment Percent of Sales 12 Month Values 20021998199920002001

43. Page 43 February 3, 2003www.atlascopco-group.com Cash and Interest-Bearing Debt 13,694 Dec. 2002 10,052 Dec. 1998 19,325 Dec. 1999 22,270 Dec. 2000 Net borrowings 20,078 Dec. 2001 MSEK

44. Page 44 February 3, 2003www.atlascopco-group.com The face of interaction