1. 0 15 July 2010

2. The SKF Group Half-year results 2010 Tom Johnstone, President and CEO

3. 2 15 July 2010 Key points, Q2 report Record levels Operating profit: SEK 2,239 m (474). Q209 include SEK 500 m in restructuring Operating margin: 14.3% (3.4) Organic sales development in local currency: Industrial Division:+7.1% Service Division:+17.0% Automotive Division:+23.6% Outlook for Q3 Demand Significantly higher compared to Q3 2009 Slightly higher sequentially compared to Q2 2010, adjusted for normal seasonality Manufacturing level Significantly higher year over year Relatively unchanged compared to Q2 2010, adjusted for normal seasonality

4. 3 15 July 2010 SKF inaugurated:  a new factory in Tver, Russia, to produce the new generation of SKF’s sealed and pre-lubricated compact tapered bearing units for railway customers.  a Global Technical Centre China in Shanghai.  three new SKF Solution Factories, one in Schweinfurt, Germany, one in Montigny, France and one in Moscow, Russia. Highlights 2010 SKF signed a framework agreement with the State Forestry Administration in China to plant new forests.

5. 4 15 July 2010 SKF has assisted S-OIL, a large South Korean oil refinery, to increase productivity and reduce potential production downtime. SKF was awarded an agreement with ZF Sachs Italy to supply 140,000 oil seals and wiper seals for motorcycle forks. SKF signed a three-year contract with Valeo to supply SKF Rotor Positioning Bearings for the new i-StARS, Valeos stop-start system. SKF received the “Golden Mousetrap” award in the 2010 “Best products awards” for the new SKF Machine Condition Advisor. Highlights 2010

6. 5 15 July 2010 Sales volume % change y-o-y 2008 2009 2010

7. 6 15 July 2010 Sales in local currencies (excl. structural changes) % change y-o-y 2008 2009 2010

8. 7 15 July 2010 Growth in local currency (Organic growth + acquisition/divestments) % y-o-y Acquisitions/Divestments Organic growth Long-term target level: 6-8% per annum 7.1% -19.0% 10.4%

9. 8 15 July 2010 Europe +9% Asia/Pacific +36% Latin America +24% Middle East & Africa +9% North America +11% Growth development by geography Local currency Q2 2010 vs Q2 2009

10. 9 15 July 2010 Europe +1% Asia/Pacific +35% Latin America +23% Middle East & Africa +10% North America +6% Growth development by geography Local currency H1 2010 vs H1 2009

11. 10 15 July 2010 Components in net sales Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2 4.96.22.7-13.0 -26.9-30.8-24.9-14.15.316.6 1.01.30.52.41.41.11.20.40.0 3.84.06.48.57.15.63.70.3-0.3-0.5 9.711.59.6-2.1-18.4-24.1-20.0-13.45.016.1 -1.2-4.1-0.910.313.612.26.6-1.4-7.7-5.2 8.57.48.78.2-4.8-11.9-13.4-14.8-2.710.9 Percent y-o-y Volume Structure Price / Mix Sales in local currency Currency Net sales 2008 2009 2010

12. 11 15 July 2010 Operating profit SEKm 2008 2009 Restructuring and one-time items 2010

13. 12 15 July 2010 Operating margin % Long-term target level: 12% 2008 2009 Restructuring and one-time items 2010

14. 13 15 July 2010 Operating margin % 12.2 Long-term target level: 12% 5.7 12.7* 8.0* Restructuring and one-time items * Excluding restructuring and one-time items 13.1 13.4*

15. 14 15 July 2010 Operating margin per division Industrial Service Automotive % 2008 Excluding one-off items (eg. restructuring, impairments, capital gains) 2009 2010

16. 15 15 July 2010 SEKm 20102009 Net sales15,70914,167 Operating profit2,239474 Operating margin, %14.3%3.4% Operating margin excl. restructuring, %14.3%6.9% Profit before taxes2,047312 Net profit1,451323 Basic earnings per share, SEK3.090.69 Cash flow after investments before financial items 1,1602,425 Second quarter 2010

17. 16 15 July 2010 SEKm 20102009 Net sales30,15529,016 Operating profit3,9411,242 Operating margin, %13.1%4.3% Operating margin excl. restructuring, %13.4%6.6% Profit before taxes3,551843 Net profit2,521717 Basic earnings per share, SEK5.361.55 Cash flow after investments before financial items 1,1922,948 Half year 2010

18. 17 15 July 2010 Inventories as % of annual sales % Long-term target level: 18% 2008 2009 2010

19. 18 15 July 2010 Cash flow, after investments before financial items SEKm Cash out from acquisitions* (SEKm) : 2008 1,284 2009241 2008 2009 * including non-controlling interests. 2010

20. 19 15 July 2010 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. % Long-term target level: 24% 24.0 9.1 16.8

21. 20 15 July 2010 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

22. 21 15 July 2010 Debt structure Maturity years, EURm 55 450 130 100 Repaid eurobond EUR 132 m, due June 2010 Repaid EUR 100 m on loan, due June 2013 New eurobond EUR 100 m, due April 2015

23. 22 15 July 2010 June 2010: Outlook for the third quarter 2010 Development compared to third 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 second quarter 2010 and adjusted for normal seasonality The demand is expected to be slightly higher for the SKF Group in total. It is expected to be unchanged in Europe, slightly higher in North America and higher in Asia and Latin America. For the Automotive Division it is expected to be relatively unchanged and for the Industrial Division and Service Division it is expected to be slightly higher. Manufacturing level The manufacturing level will be significantly higher year on year and relatively unchanged compared to the second quarter, adjusted for normal seasonality.

24. 23 15 July 2010 Volume trends, regions (based on current assumptions and adjusted for seasonality) Daily volume trends for: Q2 2010 Q3 2010 Net sales 2009 Europe51% North America17% Asia Pacific23% Latin America6% Total Outlook Q3 2010 vs 2009 +++

25. 24 15 July 2010 Volume trends, divisions (based on current assumptions and adjusted for seasonality) Daily volume trends for Q3 2010 Net sales 2009 Industrial34% Service35% Automotive29% Total Outlook Q3 2010 vs 2009 +++

26. 25 15 July 2010 14% 7% 5% 22% 16% 12% 11% 3% Cars Aerospace Energy Railway Industrial distribution Industrial OEM, General+Special Vehicle Service Market Industrial OEM, Heavy + Off-highway Electrical and two-wheeler Trucks Sequential volume trend main segments Q3 2010 (based on current assumptions) Net sales 2009

27. 26 15 July 2010 Guidance for the third quarter 2010 Tax level: around 30% Financial net for the third quarter: Around SEK -175 million Exchange rates on operating profit versus 2009 Q3: +/- 0 Full year: SEK -250 million Additions to PPE: Around SEK 1.5 billion for 2010 Guidance is approximate and based on current assumptions and exchange rates.

28. 27 15 July 2010 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

29. 28 15 July 2010 SKF Care Employee Care Community Care Environmental Care Business Care BeyondZero TM SKF Care Operating margin

30. 29 15 July 2010 SKF Group Vision To equip the world with SKF knowledge

31. 30 15 July 2010 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”.

32. 31 15 July 2010