1. Atlas Copco Group Q1 Results April 28, 2003

2. 2 Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

3. April 28, 20033 Q1 Highlights  Weaker demand - order volumes down 1% –Weak market conditions in the United States –Good growth in high potential markets  Operating margin at 10.3% (10.0) –Cost savings and price increases offset effect of lower volumes –Large negative currency effects on sales and profits  Profit after financial items MSEK 956 (912)  EPS up 8% to SEK 3.03

4. April 28, 20034 Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

5. April 28, 20035 -446 3 +15 3 33 +125 +1710 Orders received Change in Local Currency Portion of Group Sales, % Change in %, Q1 2003 vs. Q1 2002 March 2003 +6 +4

6. April 28, 20036 -446 +63 Portion of Group Sales, % Change in %, Q1 2003 vs. Q1 2002 March 2003 Q1 - The Americas  Weak demand in the U.S. –Sluggish construction activity, low manufacturing capacity utilization and effects of the war in Iraq affected market conditions –Good level of mining activity  South America improved from low level

7. April 28, 20037 +433 +125 Portion of Group Sales, % Change in %, Q1 2003 vs. Q1 2002 Q1 - Europe and Africa/Middle East  Demand in Europe remained on a relatively good level –Steady growth in Eastern Europe –Stable level of industrial demand offset weak construction activity in Western Europe –Good demand for consumables and service  Favorable development in Africa / Middle East, in spite of the war in Iraq. March 2003

8. April 28, 20038 +153 +1710 Portion of Group Sales, % Change in %, Q1 2003 vs. Q1 2002 Q1 - Asia and Australia  Another quarter of strong growth in China fuel growth in Asia  Continued growth in Australia March 2003

9. April 28, 20039 –Change in orders received in % vs. same Quarter previous year Volume Growth per Quarter

10. April 28, 200310 Group Total

11. April 28, 200311 Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

12. April 28, 200312 Compressor Technique  Order volume up 1%  Growth continued for industrial compressors and aftermarket –New products and successful territory management improve market position  Sales of portable compressors and generators negatively affected by weak construction market  China largest market for the business area  Profit margin improved, despite negative currency effects

13. April 28, 200313 Compressor Technique %

14. April 28, 200314 Rental Service  Non-residential building market remained weak  Industrial business increased  Rental volumes affected by weak demand and store closures –Flat same store rental revenues  Improved rental rates and higher fleet utilization  EBITDA margin unchanged  Strong cash flow continued

15. April 28, 200315 Rental Service Rental Revenue Growth %

16. April 28, 200316 EBIT - Bridge

17. April 28, 200317 Industrial Technique  Order volume flat –Growth for industrial tools through improved market position –Lower volumes for professional electric tools in North America  Acquisition of DreBo Werkzeugfabrik completed April 4, 2003 –Turnover MSEK 230  Operating margin negatively affected by currency effects and lower revenues

18. April 28, 200318 % Industrial Technique

19. April 28, 200319 Construction & Mining Technique  Sustained volume growth, + 3% –Increased investments from underground mines –Continued growth for drilling equipment for surface applications –Weak demand for light construction equipment  Restructuring charge MSEK 12  Margins negatively affected by weak US dollar

20. April 28, 200320 % Construction & Mining Technique

21. April 28, 200321 Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

22. April 28, 200322 Income Statement

23. April 28, 200323 Balance Sheet March 31, 2003

24. April 28, 200324 Cash Flow

25. April 28, 200325 Capital Expenditures in Tangible Fixed Assets 19992000200120022003 MSEK Quarterly 12 months Net rental fleet investment = MSEK 353

26. April 28, 200326 Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook

27. April 28, 200327 Near-term Outlook Demand in the Group’s two main regions, North America and Europe, is not expected to show any material change in the near term. Key business indicators such as capacity utilization, industrial production and building and construction activity in these regions are still weak. Demand from the mining industry and the overall demand in Asia is expected to remain favorable.

28. April 28, 200328 The face of interaction

29. April 28, 200329 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.”

30. April 28, 200330 Contents  Q1 Business Highlights  Market Development  Business Areas  Financials  Outlook  Additional Information

31. April 28, 200331 Long Term Trend Excluding goodwill impairment charge in Q3 2002

32. April 28, 200332 Compressor Technique

33. April 28, 200333 Rental Service Excluding goodwill impairment charge in Q3 2002

34. April 28, 200334 Industrial Technique

35. April 28, 200335 Construction & Mining Technique

36. April 28, 200336 Items Affecting Comparability

37. April 28, 200337 Group Total excl. items affecting comparability

38. April 28, 200338 Return on Capital Employed 12 month values 19992000200120022003 Excluding goodwill impairment charge in Q3 2002

39. April 28, 200339 Inventories, Customer Receivables and Net Rental Equipment Percent of Sales 12 Month Values 19992000200120022003

40. April 28, 200340 Cash and Interest-Bearing Debt 12,233 Mar. 2003 Net borrowings MSEK 13,694 Dec. 2002 19,325 Dec. 1999 22,270 Dec. 2000 20,078 Dec. 2001

41. April 28, 200341 The face of interaction