1. 0 1 February 2011

2. The SKF Group Tom Johnstone, President and CEO 1 February 2011

3. 2 Key points, Q4 report Strong performance Operating profit: SEK 2,202 m (1,004). Operating margin: 14.3% (7.2) Profit before tax: SEK 2,048 m (765) Cash flow:SEK -5,966 m (1,445), Cash flow excl. acquisition of Lincoln Industrial SEK 798 m Strong organic sales development in local currency: SKF Group: +17.2% All divisions and regions showed very good growth Completed acquisition of Lincoln Industrial Outlook for Q1 for SKF Group Demand Significantly higher compared to Q1 2010 Slightly higher sequentially compared to Q4 2010, adjusted for normal seasonality Manufacturing level Significantly higher year over year Slightly higher compared to Q4 2010, adjusted for normal seasonality

4. 3 1 February 2011 A leading supplier of lubrication systems and tools Headquarter in St. Louis, Missouri, USA Sales of around USD 400 m in 2010 About 2,000 employees Total purchase price net: around SEK 6.8 bn Financing: around SEK 3.2 bn cash (net) and SEK 3.6 bn debt Acquisition of Lincoln Industrial, Q4 2010

5. 4 1 February 2011 New facilities opened in 2010 3 factories 9 Solution Factories - in total 17 Haridwar, India Ahmedabad, India Tver, Russia 1 Global Technical Centre in Shanghai

6. 5 1 February 2011 Examples of new product launches in 2010 SKF Commutation Sensor-Bearing Unit Four-row tapered roller bearing SKF MetroCon – CBM for elevators and escalators Low friction X-Tracker SKF Cam Follower Unit SKF SPEEDI-SLEEVE SKF One Way Clutch SKF Crane Asset Management SKF Hydraulic driven lubricator SKF Engineering Simulation Services SKF solutions for special pumps SKF Overrunning Alternator Pulley Unit SKF Drum Support Unit SKF Low Friction Engine Seal High performance seal 2010: 251 first filings of patent applications

7. 6 1 February 2011 Six Sigma 2010 status: 463 Black Belts 2,059 Green Belts 1,155 projects closed Hard savings 2005: SEK 150 m 2006: SEK 200 m 2007: SEK 302 m 2008: SEK 462 m 2009: SEK 430 m 2010: SEK 468 m 4 dimensions: ”Standard” Six Sigma, Design for Six Sigma, Lean Six Sigma and Six Sigma for Growth

8. 7 1 February 2011 Sales volume % change y-o-y 2008 2009 2010

9. 8 1 February 2011 Sales in local currencies (excl. structural changes) % change y-o-y 2008 2009 2010

10. 9 1 February 2011 Growth in local currency (Organic growth + acquisition/divestments) % y-o-y Acquisitions/Divestments Organic growth 7.1% -19.0% 14.2%

11. 10 1 February 2011 Europe +17% Asia/Pacific +20% Latin America +16% Middle East & Africa +8% North America +17% Growth development by geography Local currency Q4 2010 vs Q4 2009

12. 11 1 February 2011 Europe +7% Asia/Pacific +31% Latin America +20% Middle East & Africa +10% North America +13% Growth development by geography Local currency 2010 vs 2009

13. 12 1 February 2011 Components in net sales Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 Full year 4.96.22.7-13.0 -26.9-30.8-24.9-14.15.316.619.016.314.1 1.01.30.52.41.41.11.20.40.0 3.84.06.48.57.15.63.70.3-0.3-0.50.30.90.1 9.711.59.6-2.1-18.4-24.1-20.0-13.45.016.119.317.214.2 -1.2-4.1-0.910.313.612.26.6-1.4-7.7-5.2-3.2-6.2-5.6 8.57.48.78.2-4.8-11.9-13.4-14.8-2.710.916.111.08.6 Percent y-o-y Volume Structure Price / Mix Sales in local currency Currency Net sales 2008 2009 2010

14. 13 1 February 2011 Operating profit SEKm 2008 2009 Restructuring and one-time items 2010

15. 14 1 February 2011 Operating margin % 2008 2009 Restructuring and one-time items 2010

16. 15 1 February 2011 Operating margin % 12.2 5.7 12.7* 8.0* Restructuring and one-time items * Excluding restructuring and one-time items 14.2* 13.8

17. 16 1 February 2011 Operating margin per division Industrial Service Automotive % 2008 Excluding one-off items (eg. restructuring, impairments, capital gains) 2009 2010

18. 17 1 February 2011 SEKm 20102009 Net sales15,40913,887 Operating profit2,2021,004 Operating margin, %14.37.2 Operating margin excl. restructuring, %14.910.1 Profit before taxes2,048765 Net profit1,350505 Basic earnings per share, SEK2.871.05 Cash flow* -5,9661,445 Cash flow* excl. acquisition of Lincoln Industrial 798 Fourth quarter 2010 * after investments before financing

19. 18 1 February 2011 SEKm 20102009 Net sales61,02956,227 Operating profit8,4523,203 Operating margin, %13.85.7 Operating margin excl. restructuring, %14.28.0 Profit before taxes7,5492,297 Net profit5,2961,705 Basic earnings per share, SEK11.283.61 Cash flow* -2,8385,752 Cash flow* excl. acquisition of Lincoln Industrial 3,926 Full year 2010 * after investments before financing

20. 19 1 February 2011 Inventories as % of annual sales % Long-term target level: 18% 2008 2009 2010 X Excluding acquisition of Lincoln Industrial

21. 20 1 February 2011 Cash flow, after investments before financial items SEKm 2008 2009 2010 Cash out from acquisitions (SEKm) : 2008 1,284 2009241 20106,799 X Excluding acquisition of Lincoln Industrial

22. 21 1 February 2011 Return on capital employed ROCE: Operating profit plus interest income, as a percentage of twelve months average of total assets less the average of non- interest bearing liabilities. % 24.0 9.1 24.0

23. 22 1 February 2011 Net debt (Short-term financial assets minus loans and post-employment benefits) SEKm AB SKF, dividend paid (SEKm) : 2008 Q22,277 2009 Q21,594 2010 Q21,594 Redemption (SEKm) : 2008 Q22,277 2008 2009 2010 Cash out from acquisitions (SEKm) : 2008 1,284 2009241 20106,799

24. 23 1 February 2011 Debt structure Maturity years, EURm 55 446 530 100 Credit facilities: EUR 500 m 2014, whereof EUR 400* m utilized SEK 3,000 m 2017, unutilized No financial covenants nor material adverse change clause 130 400* 130 400*

25. 24 1 February 2011 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

26. 25 1 February 2011 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.

27. 26 1 February 2011 Dividend proposal AB SKF’s Board proposes the Annual General Meeting an increase in the dividend of 43%, giving a dividend of SEK 5.00 (3.50) per share

28. 27 1 February 2011 December 2010: Outlook for the first quarter 2011 Development compared to the first quarter last year The demand for SKF products and services is expected to be significantly higher for the Group, the divisions and for the different geographical areas. Development compared to the fourth quarter 2010 and adjusted for normal seasonality The demand is expected to be slightly higher for the Group and for the different geographical areas. The Industrial Division and the Service Division are expected to be slightly higher and the Automotive Division higher. Manufacturing level The manufacturing level will be significantly higher year on year and slightly higher compared to the fourth quarter, adjusted for normal seasonality.

29. 28 1 February 2011 Volume trends, regions (based on current assumptions and adjusted for seasonality) Daily volume trends for: Q4 2010 Q1 2011 Net sales 2010 Europe46% North America18% Asia Pacific27% Latin America7% Total Outlook Q1 2011 vs 2010 +++

30. 29 1 February 2011 Volume trends, divisions (based on current assumptions and adjusted for seasonality) Daily volume trends for Q1 2011 Net sales 2010 Industrial32% Service36% Automotive30% Total Outlook Q1 2011 vs 2010 +++

31. 30 1 February 2011 5% 25% 18% 10% 5% 4% 14% 12% 3% 4% Energy Industrial distribution Industrial OEM, General+Special Industrial OEM, Heavy + Off-highway Aerospace Railway Cars Vehicle Service Market Electrical and two-wheeler Trucks Sequential volume trend main segments Q1 2011 (based on current assumptions) Net sales 2010

32. 31 1 February 2011 Guidance for the first quarter 2011 Tax level: around 30% Financial net for the first quarter: Around SEK -200 m Exchange rates on operating profit versus 2010 Q1: SEK -150 m Full year: SEK -900 m Additions to PPE: Around SEK 2.3 bn for 2011 Guidance is approximate and based on current assumptions and exchange rates.

33. 32 1 February 2011 Long-term financial targets Targets Operating margin level 15% Annual sales growth in local currencies 8% ROCE 27% Inventory to sales 18%

34. 33 1 February 2011 Main initiatives going forward Accelerate profitable growth Reduce cost and eliminate waste Invest for growth One SKF and SKF Care as guiding lights

35. 34 1 February 2011 Main actions going forward Accelerate profitable growth Continue to strengthen the platform/segment approach Increase the development, launch and commercialisation of new offerings (green) Value based selling – using Documented Solutions Programme Strengthen our service business Acquisitions to strengthen platform offer Develop other brands of the SKF Group

36. 35 1 February 2011 Main actions going forward Reduce cost and eliminate waste Build on Manufacturing Excellence into other areas - Business Excellence Increased manufacturing and sourcing in Best Cost Countries Reduce product cost through ICR* activities * ICR means Integrated Cost Reduction

37. 36 1 February 2011 Main actions going forward Invest for growth Increase sales and engineering resources Additional factories in growth markets Additional SKF Solution Factories Increase spending in R&D and improve global network - accelerate plans for India and China

38. 37 1 February 2011 Key focus areas ahead 2011 Profit and cash flow - manage currency and material headwinds Manufacturing and suppliers to support growth Growing segments and geographies Initiatives and actions to support long term targets Integration of Lincoln Industrial Business Excellence and competence development One SKF and SKF Care as guiding lights

39. 38 1 February 2011 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”.

40. 39 1 February 2011