2. The SKF Group Half-year result, 2005 Tom Johnstone, President and CEO

3. MSEK20052004 Net sales12 73911 417 Operating profit1 3831 159 Operating margin10.9%10.2% Profit before taxes1 3191 049 Net profit905733 Earning per share, SEK1.951.49 Cash flow after investments before financing* 262559 Second quarter 2005 * MSEK 718, before the acquisition of Jaeger Industrial Ltd. and the purchase of minority shareholding in previously acquired companies.

4. MSEK20052004 Net sales24 61022 106 Operating profit2 5712 062 Operating margin10.4%9.3% Profit before taxes2 4431 864 Net profit1 6841 402 Earning per share, SEK3.602.80 Cash flow after investments before financing 4061 094 Half-year 2005

5. Areas in focus 2005 Performance Q2 2005 Operating margin level Maintain a positive price/mix Recovery of raw material cost increase Continued sales growth Maintain organic growth pace Structure Strengthen the platform/segment offer Cash flow before financing and acquisitions In line with net profit, annual basis 3.6% Ongoing 11.2% 0.2% Ongoing MSEK 718

6. Major events during the quarter Merger of long-steel operations, Oy Ovako Ab Share split and redemption Launch of a 350 million euro dual-tranche bond Acquisition of Jaeger Industrial Ltd. Announcement of the closure of two plants in the USA

7. Operating margin* % 20022003 2004 * excluding restructuring and impairment in Q4 2003 2005

8. Operating margin per division* Industrial Service Aero and Steel excl. Ovako Electrical Automotive % 2003 2004 * excl. restructuring and impairment in Q4, 2003 and in Q2, 2005 2005

9. Sales in local currency % change y-o-y 20022003 20042005

10. Growth development / local currency 10 BSEK additional sales = 6 % annual growth rate % Y-o-Y Growth by acquisitions Organic growth 6% total growth 4% organic growth Up to June

11. Net sales development per quarter Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2 6.23.24.23.14.88.99.610.28.37.6 0.70.10.20.30.10.02.22.02.30.2 1.20.61.20.11.11.82.34.23.6 8.13.95.6 3.56.010.714.116.414.211.4 -9.3-8.6-5.5-7.4-4.6-2.3-2.9-3.8-3.20.2 -1.2-4.70.1-3.91.48.411.212.611.011.6 Percent y-o-y 2003 2004 Volume Structure Price / Mix Sales in local currency Currency Net sales 2005

12. Inventories as % of annual sales % 2002 2003 20042005

13. Cash flow, after investments before financing MSEK 20022003 20042005

14. Net debt MSEK 200120022003 Dividend paid: 2001 Q2, MSEK 598 2002 Q2, MSEK 683 2003 Q2, MSEK 911 2004 Q2, MSEK 1 138 2005 Q2, MSEK 1 366 2004 Q2, Pension: MSEK 3 100 2005 Q2, Redemption, MSEK 2 846 2004 (Short-term financial assets - loans) 2005

15. Net interest bearing liabilities MSEK (Short-term financial assets - loans - net postemployment benefits) 2003 20042005

16. Share split and distribution to shareholders Number of shares as per June 30, 2005 SKF A 63 876 892 SKF B391 474 176 Total455 351 068 MSEK 1 366Dividend MSEK 2 846Redemption MSEK 4 212Distributed to shareholders SKF issued during the second quarter: A 350 million euro dual-tranche bond - a 100 million euro three-year floating-rate bond - a 250 million euro five-year fixed rate bond

17. Jaeger Industrial Co Ltd. Leading supplier in Asia- Pacific Complete range of actuation systems Low cost manufacturing and high volume capabilities Own sales units plus sales through specialized dealers Manufacturing plants both in Taiwan and China Turnover year 2004, MSEK 320 750 employees ~50% sales volume in Asia Founded 1982 Five business units (Taiwan, China & USA) ISO 9001

18. Jaeger market segments Satellite disc positioning Gate openers General industry Health care & Ergonomics

19. 2000 2001 Accumulated change in the number of employees 2002 acquisitions capacity adjustment and restructuring Employees 2003 2004 2005

20. Fixed assets / Sales % % Up to June

21. SKF Group targets 10% Operating margin level 6% Growth per annum 20% ROCE 18% Inventory / sales 2006 2007

22. July 2005: Outlook for the third quarter The market demand for SKF’s products and services in the third quarter, compared to the previous quarter, is expected to remain on a high level in Europe, to be slightly higher in North America, higher in Latin America and significantly higher in Asia. However, the third quarter is seasonally lower than the second quarter. The manufacturing level will be unchanged during the third quarter, compared to the second quarter, while lower in absolute terms due to normal seasonality.

23. Volume trend for the third quarter 2005 Europe 57% 20% 15% 5% North America Asia Pacific Latin America Net sales 2004 July 2005 Total April 2005 Note: This is the sequential development

24. 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".