1. Atlas Copco Group Q1 Results April 29, 2002

2. Page 2 April 29, 2002www.atlascopco-group.com Contents  Q1 Highlights and Strategic Moves  Market Development  Business Areas  Financials  Outlook

3. Page 3 April 29, 2002www.atlascopco-group.com Q1 Highlights  Weaker demand - as anticipated  Order volumes down 7%  Low invoicing, primarily rental revenues and investment-related products, affected profit  Operating margin 10.0% (12.1)  Profit after financial items MSEK 912  Continued strong operating cash flow of MSEK 1,523

4. Page 4 April 29, 2002www.atlascopco-group.com Actions & Strategic moves  Short-term and long-term actions  Ongoing adjustment to low demand situation  Investing in market- and product development, production- and logistics efficiency  Priority to Use-of-Products projects  Strategic moves  Build presence in China and Russia  Acquisitions  Launch of Milwaukee brand in Europe

5. Page 5 April 29, 2002www.atlascopco-group.com Contents  Q1 Highlights and Strategic Moves  Market Development  Business Areas  Financials  Outlook

6. Page 6 April 29, 2002www.atlascopco-group.com Group Total

7. Page 7 April 29, 2002www.atlascopco-group.com  Change in orders received in % vs. same Quarter previous year Volume Growth per Quarter

8. Page 8 April 29, 2002www.atlascopco-group.com -1150 -164 +122 -730 +145 09 Orders received, Q1 2002 vs. Q1 2001 Change in Local Currency -7 Portion of Group Sales, % Change in %, Q1 2002 vs. Q1 2001 March 2002

9. Page 9 April 29, 2002www.atlascopco-group.com -1150 -164 Portion of Group Sales, % Change in %, Q1 2002 vs. Q1 2001 March 2002 Q1 - The Americas  Weak demand in North America  Non-residential building and manufacturing industry affected equipment rental negatively  Low demand for investment related goods  Slightly improved demand for production related equipment  South America  Negative development in most markets

10. Page 10 April 29, 2002www.atlascopco-group.com -730 +145 March 2002 Portion of Group Sales, % Change in %, Q1 2002 vs. Q1 2001 Q1 - Europe and Africa/Middle East  Negative trend in Europe Continue  Low construction activity except for the Nordic Region  Slowdown for investment-related products in most customer segments  Africa/Middle East  Construction projects and bulk orders behind good quarter

11. Page 11 April 29, 2002www.atlascopco-group.com +122 09 March 2002 Portion of Group Sales, % Change in %, Q1 2002 vs. Q1 2001 Q1 - Asia and Australia  Mixed Situation in Asia  Continued growth in China and positive trend in Korea  Decline in demand in Japan and India  Electronics industry in South-East Asia continue to be weak

12. Page 12 April 29, 2002www.atlascopco-group.com Contents  Q1 Highlights and Strategic Moves  Market Development  Business Areas  Financials  Outlook

13. Page 13 April 29, 2002www.atlascopco-group.com Volume Growth Compressor Technique  Change in orders received vs. same quarter previous year, %

14. Page 14 April 29, 2002www.atlascopco-group.com Compressor Technique  Weak demand  Order volumes decline 5 percent  Large industrial compressors declined most, while after-sales is still growing  Europe showing a volume drop and the Americas still weak  Continued growth in China  Lower volumes affect operating margin  Acquisition of Liutech finalized in April

15. Page 15 April 29, 2002www.atlascopco-group.com Volume Growth Rental Service  Change in orders received vs. same quarter previous year, %

16. Page 16 April 29, 2002www.atlascopco-group.com Rental Service  Demand remain weak  Weak non-residential building segment  Low activity in manufacturing industry  Profit margin affected by low demand and price compression  Actions  More fleet available for rent and improved mix  Reinforced sales organization  Continued strong cash generation

17. Page 17 April 29, 2002www.atlascopco-group.com Volume Growth Industrial Technique  Change in orders received vs. same quarter previous year, %

18. Page 18 April 29, 2002www.atlascopco-group.com Industrial Technique  Order volumes decline 8 percent  Low order intake from motor vehicle industry - major producers slowed/stopped investments  Weak demand from general industry and automotive aftermarket continue  Stable development for professional electric tools in the U.S., while weak trend continue in Europe  Profit margin affected by lower volume and an unfavorable product mix  Launch of Milwaukee in Europe

19. Page 19 April 29, 2002www.atlascopco-group.com Volume Growth Construction & Mining Technique  Change in orders received vs. same quarter previous year, %

20. Page 20 April 29, 2002www.atlascopco-group.com Construction & Mining Technique  Stable performance  Increase in use-of-products revenues  Lower demand for large investment- related equipment for tunnelling and mining and for prospecting equipment  Surface drill rigs and construction tools show positive development  Stable profit margin  Acquisition of MAI finalized in April and Krupp is on schedule for Q2

21. Page 21 April 29, 2002www.atlascopco-group.com Contents  Q1 Highlights and strategic moves  Market Development  Business Areas  Financials  Outlook

22. Page 22 April 29, 2002www.atlascopco-group.com Income Statement

23. Page 23 April 29, 2002www.atlascopco-group.com MSEK Q1 2002 Operating profit, as reported1,166 less- capitalization of development cost 54 - useful life estimates on rental fleet, net 45 Pro-forma operating profit, “old” rules 1,057 Income Statement (accounting changes)

24. Page 24 April 29, 2002www.atlascopco-group.com Balance Sheet March 31, 2002

25. Page 25 April 29, 2002www.atlascopco-group.com Capital Structure Net Debt/Equity

26. Page 26 April 29, 2002www.atlascopco-group.com Atlas Copco Group Return on Capital Employed 12 month values 19981999200020012002

27. Page 27 April 29, 2002www.atlascopco-group.com Cash Flow

28. Page 28 April 29, 2002www.atlascopco-group.com Capital Expenditures in Tangible Fixed Assets 19981999200020012002 MSEK Quarterly 12 months Net rental fleet investment = MSEK 921

29. Page 29 April 29, 2002www.atlascopco-group.com Earnings per Share and Dividend 20021997199819992000 2001 *Proposed by the Board of Directors *

30. Page 30 April 29, 2002www.atlascopco-group.com Contents  Q1 Highlights and Strategic Moves  Market Development  Business Areas  Financials  Outlook

31. Page 31 April 29, 2002www.atlascopco-group.com Near-term Outlook Overall, demand for our products and services is foreseen to stay at the present level in the near-term. The demand for large investment-related equipment in North America is foreseen to remain weak, while the recent increases in consumption and industrial production in the U.S. should positively affect the demand for production-related equipment and tools. Demand for rental equipment is foreseen to show normal seasonal increases in the next two quarters. In Europe, the business cycle is expected to lag behind North America and consequently, no improvement of demand is foreseen in the near-term. Demand in Asia is expected to be good, supported by continued strong growth in China.

32. Page 32 April 29, 2002www.atlascopco-group.com The face of interaction

33. Page 33 April 29, 2002www.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.”

34. Page 34 April 29, 2002www.atlascopco-group.com Contents  Q1 Highlights and Strategic Moves  Market Development  Business Areas  Financials  Outlook  Additional Information

35. Page 35 April 29, 2002www.atlascopco-group.com Orders received, Jan. - Mar. 2002 Group Total MSEK 12,058 -3 12 months, Portion of Group Sales, % Change 2002 / 2001, % -550 -144 +182 -530 +65 +49

36. Page 36 April 29, 2002www.atlascopco-group.com Long Term Trend

37. Page 37 April 29, 2002www.atlascopco-group.com Compressor Technique

38. Page 38 April 29, 2002www.atlascopco-group.com Compressor Technique

39. Page 39 April 29, 2002www.atlascopco-group.com Rental Service

40. Page 40 April 29, 2002www.atlascopco-group.com Rental Service

41. Page 41 April 29, 2002www.atlascopco-group.com Industrial Technique

42. Page 42 April 29, 2002www.atlascopco-group.com Industrial Technique

43. Page 43 April 29, 2002www.atlascopco-group.com Construction & Mining Technique

44. Page 44 April 29, 2002www.atlascopco-group.com Construction & Mining Technique

45. Page 45 April 29, 2002www.atlascopco-group.com Group Total

46. Page 46 April 29, 2002www.atlascopco-group.com Items Affecting Comparability

47. Page 47 April 29, 2002www.atlascopco-group.com Group Total excl. items affecting comparability

48. Page 48 April 29, 2002www.atlascopco-group.com Earnings Before Interest and Taxes MSEK % 1988 19901992 199419961998 2000 12 month values EBIT margin excluding items affecting comparability 1999 = 12.1%, 2000 = 13.8%, 2001 = 12.5%, 2002 March = 11.7% 2002 March

49. Page 49 April 29, 2002www.atlascopco-group.com Taxes MSEK % 19981999200020012002 March

50. Page 50 April 29, 2002www.atlascopco-group.com Inventories, Customer Receivables and Net Rental Equipment Percent of Sales 12 Month Values 19971998199920002001

51. Page 51 April 29, 2002www.atlascopco-group.com Cash and Interest-Bearing Debt 18,196 Mar. 2002 10,052 Dec. 1998 19,325 Dec. 1999 22,270 Dec. 2000 Net borrowings 20,078 Dec. 2001 MSEK

52. Page 52 April 29, 2002www.atlascopco-group.com The face of interaction