2. The SKF Group Year-end result, 2005 Tom Johnstone, President and CEO

3. 3 2006-01-26 Areas in focus 2005 Performance 2005 Operating margin level Maintain a positive price/mix Recovery of raw material cost increase Continued sales growth Maintain organic growth pace Acquisition/divestment (mainly Ovako) Strengthen the platform/segment offer Cash flow after investments before financing and acquisitions 3.4% Done 8.4% -1.1% Ongoing MSEK 2 848

4. 4 2006-01-26 Major events 2005 SKF steel business was merged into a jointly owned company Oy Ovako Ab. SKF's share is 26.5%. Construction of a number of new factories in Asia was initiated. Acquisition of Jaeger Industrial Ltd. and Sommers Industriteknik AB. Announced the closure of two factories in the USA, for the automotive industry. Rationalization in Europe, mainly in France. SKF included in sustainability indexes: DJSI World and DJSI STOXX - for the sixth year and FTSE4Good Index Series - for the fifth year. Global OHSAS 18001 certification 4.2 billion SEK was distributed to SKF shareholders via the dividend and a share split/redemption programme.

5. 5 2006-01-26 New divisional structure in 2006 Industrial Division Service Division Automotive Division -Sales to the industrial aftermarket, mainly through a network of some 7 000 distributors -Knowledge based solutions to optimise asset efficiency. -Logistic services. Sales - some 33%*. -Sales to the industrial OEM customers and the develop- ment and manufacturing of a wide range of bearings, linear motion and mecha- tronics products, couplings, related products and lubrication systems. Sales - some 31% of the Group's sales*. -Sales, development and manufacturing of bearings, seals and components to automotive, two-wheelers, household appliances and power tools OEM manu- facturers. -Vehicle Service Market. Sales - some 36%* Restated financial figures will be published on the Group's website during March 2006.

6. 6 2006-01-26 MSEK20052004 Net sales12 64811 536 Operating profit1 2681 183 Operating margin10.0%10.3% Profit before taxes1 2751 113 Net profit862845 Earnings per share, SEK1.851.67 Cash flow after investments before financing 529543 Fourth quarter 2005

7. 7 2006-01-26 MSEK20052004 Net sales49 28544 826 Operating profit5 3274 434 Operating margin10.8%9.9% Profit before taxes5 2534 087 Net profit3 6072 976 Earnings per share, SEK7.735.90 Cash flow after investments before financing 2 4302 153 Year-end result 2005

8. 8 2006-01-26 Operating margin % 20022003 20042005

9. 9 2006-01-26 Operating margin per division Industrial Service Aero and Steel excl. Ovako Electrical Automotive % 2003 20042005

10. 10 2006-01-26 Sales in local currencies (excl. structural changes) % change y-o-y 20022003 20042005

11. 11 2006-01-26 Net sales development per quarter Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 6.23.24.23.14.88.99.610.28.37.65.11.3 0.70.10.20.30.10.02.22.02.30.2-2.9-3.7 1.20.61.20.11.11.82.34.23.6 2.12.6 8.13.95.6 3.56.010.714.116.414.211.44.30.2 -9.3-8.6-5.5-7.4-4.6-2.3-2.9-3.8-3.20.23.29.4 -1.2-4.70.1-3.91.48.411.212.611.011.67.59.6 Percent y-o-y 2003 2004 Volume Structure Price / Mix Sales in local currency Currency Net sales 2005

12. 12 2006-01-26 Group sales volume vs Industrial production

13. 13 2006-01-26 Growth development / local currency 6% annual growth rate (whereof 4% organic) % Y-o-Y Acquisitions / Divestments Organic growth (Organic 8.4, Net acq/div -1,1) 3.0 7.3 5.2 11.8

14. 14 2006-01-26 Net sales per geography, 2005 (2004) North America, 20% (20) Latin America, 5% (5) Sweden, 4% (5) Western Europe excl. Sweden, 47% (48) Central and Eastern Europe, 4% (4) Asia, 17% (15) Middle East and Africa, 3% (3)

15. 15 2006-01-26 Cash flow, after investments before financing MSEK 20022003 20042005

16. 16 2006-01-26 Net cash MSEK 20022003 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

17. 17 2006-01-26 Inventories as % of annual sales % 2002 2003 20042005 Target, end 2007 - 18%

18. 18 2006-01-26 Currency management and net currency flows USDEuro Others SEK 75% of net currency flows in USD will be hedged 3-12 months, all other currency flows and also translation are not hedged. Negative effect for 2005 vs 2004: MSEK 150 Estimated positive effect for 2006 vs 2005, based on current assumptions and exchange rates: Q1, 2006:MSEK 100 Full year, 2006:MSEK 400 Currency management 2006: Net currency flows 2005 excl. Ovako: CAD

19. 19 2006-01-26 January 2006: Outlook for the first quarter 2006 The market demand for SKF's products and services in the first quarter of 2006, compared to the previous quarter, is expected to remain on a high level in Europe, to be slightly higher in North America, significantly higher in Asia and to remain on a high level in Latin America. This is in addition to normal seasonality. The manufacturing level will be unchanged for the first quarter of 2006, compared to the fourth quarter of 2005, while higher in absolute terms due to normal seasonality.

20. 20 2006-01-26 Volume trend for the first quarter 2006 Europe 55% 20% 17% 5% North America Asia Pacific Latin America Net sales 2005 October 2005 Total Note: This is the sequential development January 2006

21. 21 2006-01-26 SKF Group targets 10% Operating margin level 6% Growth per annum 20% ROCE 18% Inventory / sales 2006 2007

22. 22 2006-01-26 Guidance 2006 Taxes, annual level: around 32% Financial net, for the year: approximately MSEK 200 Currency, based on current assumptions and exchange rates: a positive MSEK 100 for Q1, 2006 and a positive MSEK 400 for the year Addition to tangible assets: in line with depreciations

23. 23 2006-01-26 SKF capital structure 2006 The AB SKF Board proposes the AGM to decide on: a 33% increase in the dividend, SEK 4 per share, in total SEK 1.8 billion a mandate to the Board to repurchase up to 5% of the company's share

24. 24 2006-01-26 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".