1. SKF Half-year results 2012 Tom Johnstone, President and CEO 18 July 2012

2. © SKF Group18 July 2012Slide 1 New businesses - A five-year contract for integrated maintenance solutions with the Brazilian pulp and paper company Fibria. - A seven-year contract with Volvo Car Corporation for the delivery of rear wheel bearing units and front suspension bearing units. - A three-year supply agreement for the new generation Nautilus TM bearing with a major wind turbine manufacturer. New facilities: -Railway test centre in Tver, Russia -SKF Solution Factory in Perth, Australia New products: New app: Highlights Q2 2012 New generation SKF System 24 Shaft sealing solution SKF Seal Select App

3. © SKF Group18 July 2012Slide 2 Highlights Q2 2012 SKF launched the BeyondZero TM portfolio with products and solutions, which will both improve energy efficiency and reduce the environmental impact. SKF revised targets for its climate strategy and also partnered with the WWF in their Climate Savers Programme. SKF announced the divestment of its distributor businesses in Australia and New Zealand SKF renewed its partnership with Scuderia Ferrari. Growth target: SEK 2.5 bn to SEK 10 bn by 2016

4. © SKF Group18 July 2012Slide 3 SKF Group - Q2 2012 Financial performanceQ2 2012Q2 2011 Net sales, SEKm17,17416,712 Operating profit, SEKm2,0532,623 Operating margin, % 12.015.7 Profit before tax, SEKm 1,8012,446 Cash flow, SEKm 686 1,300 SKF took steps to reduce its cost base in Europe. The quarter included one-time costs of around SEK 140 million. Organic sales growth in local currency: SKF Group: -0.8% Europe:-3.4%Industrial market, Strategic Industries:+0.6% North America:+8.5%Industrial market, Regional Sales and Service:+0.6% Asia:-7.9%Automotive: -4.6% Latin America:+16.6% Key points Volumes down by 2.8% y-o-y Manufacturing level significantly lower y-o-y Inventories relatively unchanged

5. © SKF Group18 July 2012Slide 4 Organic sales growth in local currency 2012 2010 2011 % change y-o-y

6. © SKF Group18 July 2012Slide 5 Sales volume % change y-o-y 2010 2011 2012

7. © SKF Group18 July 2012Slide 6 Europe -3.4% Asia/Pacific -7.9% Latin America +16.6% Middle East & Africa +1.7% North America +8.5% Growth development by geography Organic growth in local currency Q2 2012 vs Q2 2011

8. © SKF Group18 July 2012Slide 7 Europe -2.3% Asia/Pacific -8.0% Latin America +13.8% Middle East & Africa +2.2% North America +11.6% Growth development by geography Organic growth in local currency YTD 2012 vs YTD 2011

9. © SKF Group18 July 2012Slide 8 Growth in local currency % y-o-y * whereof acquisition 4.8% Long-term target: 8% per annum 14.2% 16.3%* 0.1%

10. © SKF Group18 July 2012Slide 9 Components in net sales Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2 5.316.619.016.320.112.66.20.0-0.8-2.8 0.0 5.04.45.14.8-0.10.0 -0.3-0.50.30.91.31.62.02.81.92.0 5.016.119.317.226.418.613.37.61.0-0.8 -7.7-5.2-3.2-6.2-10.8-12.2-6.3-2.10.43.6 -2.710.916.111.015.66.47.05.51.42.8 Percent y-o-y Volume Structure Price/mix Sales in local currency Currency Net sales 2010 2011 2012

11. © SKF Group18 July 2012Slide 10 Operating profit SEKm 2010 One-time items 2011 2012

12. © SKF Group18 July 2012Slide 11 % 2010 One-time items 2011 2012 Operating margin Long-term target level: 15%

13. © SKF Group18 July 2012Slide 12 % One-time items * Excluding one-time items 14.7* Long-term target level: 15% 14.2* 13.8 14.5 12.7* Operating margin 12.3

14. © SKF Group18 July 2012Slide 13 Operating margin per business area Strategic Industries Regional Sales and Service Automotive % 2010 2011 2012 Excluding one-off items (eg. restructuring, impairments, capital gains)

15. © SKF Group18 July 2012Slide 14 SEKm 20122011 Net sales17,17416,712 Operating profit2,0532,623 Operating margin, %12.015.7 Profit before taxes1,8012,446 Net profit1,2601,743 Basic earnings per share, SEK2.673.76 Cash flow, after investments before financing 6861,300 Second quarter 2012

16. © SKF Group18 July 2012Slide 15 SEKm 20122011 Net sales34,10533,414 Operating profit4,1935,127 Operating margin, %12.315.3 Profit before taxes3,7824,764 Net profit2,6013,363 Basic earnings per share, SEK5.517.20 Cash flow, after investments before financing 1,3821,672 Half year 2012

17. © SKF Group18 July 2012Slide 16 Inventories as % of annual sales % Long-term target level: 18% 2010 2011 2012

18. © SKF Group18 July 2012Slide 17 Cash flow, after investments before financing SEKm 2010 2011 2012 * SEK 798 million, excluding SEK 6,799 million for the acquisition of Lincoln. *

19. © SKF Group18 July 2012Slide 18 Return on capital employed ROCE: Operating profit plus interest income, as a percentage of twelve months rolling average of total assets less the average of non-interest bearing liabilities. % 20.0 24.0 Long-term target: 27% 23.6

20. © SKF Group18 July 2012Slide 19 Net debt SEKm AB SKF, dividend paid (SEKm) : 2010 Q21,594 2011 Q22,277 2012 Q22,504 2010 2011 2012 Net debt:Loans and net provisions for post-employment benefits less short-term financial assets excluding derivatives. Cash out from acquisition (SEKm) : 2010 6,799

21. © SKF Group18 July 2012Slide 20 Debt structure, maturity years EURm 396 100 Credit facilities: EUR 500 million 2014 SEK 3,000 million 2017 No financial covenants nor material adverse change clause 130 500 110 0

22. © SKF Group18 July 2012Slide 21 July 2012: SKF demand outlook Q3 2012 Demand compared to the third quarter last year The demand for SKF ’ s products and services is expected to be relatively unchanged for the Group. It is expected to be lower in Europe, relatively unchanged in Asia, higher in North America and slightly higher in Latin America. The demand is expected to be slightly higher for Industrial Strategic Industries and relatively unchanged for Automotive and Industrial Regional Sales and Service. Demand compared to the second quarter 2012 The demand for SKF ’ s products and services is expected to be relatively unchanged for the Group. It is expected to be slightly lower in Europe, relatively unchanged in Asia and North America and higher in Latin America. The demand is expected to be relatively unchanged for Industrial Strategic Industries and Industrial Regional Sales and Service and slightly lower for Automotive. Manufacturing level The manufacturing level is expected to be lower year on year and slightly lower compared to the second quarter.

23. © SKF Group18 July 2012Slide 22 SKF demand outlook Q3 2012, regions Sequential trends for: Q2 2012 Q3 2012 Share of net sales 2011* Europe44% Asia Pacific28% North America19% Latin America8% Total Q3 2012 vs Q3 2011 - +/- ++ + +/- * Previously published shares have been restated to reflect the total Group business and customer delivery locations.

24. © SKF Group18 July 2012Slide 23 SKF demand outlook Q3 2012, business areas Sequential trends for Q3 2012 Share of net sales 2011 Strategic Industries 31% Regional Sales and Service 39% Automotive27% Total Q3 2012 vs Q3 2011 + +/-

25. © SKF Group18 July 2012Slide 24 5% 28% 13% 12% 10% 4% 3% 13% 5% Energy Aerospace Industrial distribution Industrial, general Industrial, heavy, special and off-highway Vehicle service market Railway Two-wheelers and electrical Cars and light vehicles Trucks SKF sequential demand trend Q3 2012 Share of net sales 2011* * Previously published shares have been restated to reflect the total Group business and customer delivery locations.

26. © SKF Group18 July 2012Slide 25 Guidance for the third quarter 2012 Tax level: around 30% Financial net for the third quarter: Around SEK -180 million Exchange rates on operating profit versus 2011 Q3: SEK 125 million Full year: SEK 350 million Additions to PPE: Around SEK 2.0 billion for 2012 Guidance is approximate and based on current assumptions and exchange rates

27. © SKF Group18 July 2012Slide 26 Key focus areas ahead 2012 Managing the uncertain and different demand environment - regions and segments Profit and cash flow - inventory management Initiatives and actions to support long-term financial targets Continue the integration of Lincoln Business Excellence and competence development Implement the new organization for the Industrial market One SKF and SKF Care as guiding lights

28. © SKF Group18 July 2012Slide 27 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 ”.

29. © SKF Group18 July 2012Slide 28