1. The SKF Group SKF Investor Relations April 2011

2. 1 SKF - A truly global company Established: 1907 Sales 2010: SEK 61,029 million Employees: 44,742 Production sites: around 130 in 32 countries SKF presence: in over 130 countries Distributors/dealers:15,000 locations Global certificates:ISO 14001 OHSAS 18001 certification

3. 2 Aerospac e Railwa y Off-highway Trucks Two-wheeler and Electrical General industry Heavy industry Special industrial equipment Vehicle Service Market Industrial distribution Cars and light trucks Commercia l transport Industrial business Net sales by customer segment 2010 Energy 14 % 5% 4% 3% 13 % 7% 5% 12 % 25 % 4%

4. 3 North America Latin America Western Europe Eastern Europe Middle East and Africa Asia/Pacifi c Net sales Average number of employees Tangible asset % of group total SKF 2010 (18) (8)(13) (26)(13) (14) (2002) (1998) (25) (14) (19) (10) (12) (9) Sweden (4) (3) (5) (12)(15) (3) (9)(3) (2) (0) (47) (46)(53) (6) (5)(4) (5) (14)(12) (3) (9)(3) (2)(0) (48) (44)(53)

5. 4 To equip the world with SKF knowledge SKF Group Vision

6. 5 New facilities opened in 2010 3 factories 9 Solution Factories - in total 17 Haridwar, India Ahmedabad, India Tver, Russia 1 Global Technical Centre in Shanghai

7. 6 Opened Planned Tianjin Taiwan Shangh ai Pune Istanbul Johannesburg Brasil “IXION” Colombia Moscow Houston Monterrey Mexico Edmonton Nordic (Gothenburg) UK Germany Italy France 17 SKF Solution Factories 2010

8. 7 SKF Solution Factory Segments & Application Knowledge Platforms & Technology Competence Capabilities Sealing Solutions Mechanical Services Lubrication Solutions Training Center Bearing Service Workshop Condition Monitoring Services Remote Monitoring Center MaPro/CoMo Product Repair A & MC SKF Solution Factory

9. 8 LEED standard in new building constructions SKF USA Inc. head office New factories will be built according to the Leadership in Energy and Environmental Design (LEED) standard: Jinan, China (tapered roller bearings) Dalian, China (mainly medium-sized bearings) Mysore, India (seals) SKF Jinan Factory, China SKF Tver Factory, Russia

10. 9 New pitch bearing design with improved corrosion protection DRTRB-unit “Nautilus” with segmented cage for minimized friction New CRB-design with extra-high carrying capacity for wind-gearboxes. XL Hybrid bearings with ceramic balls for superior insulation SKF WindCon 3.0/Webcon Intranet supervised condition monitoring Automatic centralized lubrication kits for reduced maintenance cost SKF wind energy industry

11. 10 What is SKF knowledge?

12. 11 Bearings and units SKF’s platforms

13. 12 Seals SKF’s platforms

14. 13 Mechatronics SKF’s platforms

15. 14 SKF’s platforms Lubrication systems

16. 15 SKF’s platforms Services

17. 16 Acquisition 2003-2011 Identifying gaps and opportunities in all platforms Seals Bearings and units Lubrication systems Services Mechatronics Products Technologie s Geographie s Segments SNFA (2006) S2M (2007) QPM (2008) Economos (2006) Macrotech (2006) Macrotech (2009) Baker (2007) PMCI (2007) PB&A (2006) Monitek (2006) Safematic (2006) Vogel (2004) ALS (2007) Sommers (2005) ABBA (2007) Jaeger (2005) Peer (2008) GLO (2008) TCM (2003) Scandrive (2003) Cirval (2008) Lincoln Industrial (2010)

18. 17 ~20% Raw material (example: bars, tubes and rings) ~50% Components (example: forged and turned rings) ~30% Other (shop supplies and traded products etc.) Cost split, % of total expenses (2010: SEK 52,438 m) Employees ~35% Other ~27% Material ~34% ~4% Depreciation & amortization

19. The SKF Group Tom Johnstone, President and CEO 19 April 2011

20. 19 Key points, Q1 report Strong performance Operating profit: SEK 2,504 m (1,702) Operating margin: 15.0% (11.8) Profit before tax: SEK 2,318 m (1,504) Cash flow: SEK 372 m (32) Strong organic sales growth in local currency: SKF Group: +21.4% Europe:+22%Industrial Division:+20.8% North America:+25%Service Division:+22.5% Asia:+22%Automotive Division:+19.8% Latin America:+18% Lincoln integration is going according to plan. Outlook for Q2 for SKF Group Demand Significantly higher compared to Q2 2010 Slightly higher sequentially compared to Q1 2011 Manufacturing level Significantly higher year over year Relatively unchanged compared to Q1 2011

21. 20 New businesses: SKF was awarded a contract, worth around SEK 500 million, with Goldwind for SKF Nautilus bearings for their new 2.5 MW direct drive turbine. SKF signed a three-year strategic partnership, worth SEK 335 million, with Sandvik Mining and Construction. SKF and Konkola Copper Mines Plc in Zambia signed a three- year contract, worth USD 2 million, covering a Predictive Maintenance solution. SKF signed a strategic partnership agreement with CITIC Pacific Special Steel Co., Ltd, for cooperation in purchasing, new product and technology development and human resources development. Highlights Q1 2011

22. 21 SKF is building a new factory in Jinan, in the Shandong Province, China. The investment amounts to around SEK 590 million and the factory will initially employ about 500 people. SKF signed an agreement to remain as the main partner to the Gothia Cup for an additional three years. SKF will also continue to run the "Meet The World" qualifying tournaments held in around 20 countries globally. Highlights Q1 2011 Jina n

23. 22 Divestments 2011 On 1 February 2011, the forging business OMVP, in Villar Perosa, Italy to the German based company Neumayer Tekfor Holding GmbH. OMVP has about 550 employees and net sales of around EUR 100 million, mainly to SKF. At the beginning of the second quarter the cage factory in Gothenburg to the Japanese component manufacturer Nakanishi Metal Works CO., Ltd. The factory has 130 employees and will continue to supply SKF. SKF completed two agreements in line with its strategy to divest non-core component manufacturing:

24. 23 Sales volume % change y-o-y 2009 2010 2011

25. 24 Organic growth in local currencies % change y-o-y 2009 2010 2011

26. 25 Europe +22% Asia/Pacific +22% Latin America +18% Middle East & Africa +4% North America +25% Growth development by geography Organic growth Q1 2011 vs Q1 2010

27. 26 Growth in local currency % y-o-y Acquisitions/Divestments Organic growth -19.0% 14.2% 26.4% Long-term target: 8% per annum Total growth

28. 27 Components in net sales Q1Q2Q3Q4Q1Q2Q3Q4Q1 -26.9-30.8-24.9-14.15.316.619.016.320.1 1.41.11.20.40.0 5.0 7.15.63.70.3-0.3-0.50.30.91.3 -18.4-24.1-20.0-13.45.016.119.317.226.4 13.612.26.6-1.4-7.7-5.2-3.2-6.2-10.8 -4.8-11.9-13.4-14.8-2.710.916.111.015.6 Percent y-o-y Volume Structure Price / Mix Sales in local currency Currency Net sales 2009 2010 2011

29. 28 Operating profit SEKm 2009 Restructuring and one-time items 2010 2011

30. 29 Operating margin % 2009 Restructuring and one-time items 2010 Long-term target level: 15% 2011

31. 30 Operating margin % 5.7 8.0* Restructuring and one-time items * Excluding restructuring and one-time items 15.0 Long-term target level: 15% 14.2* 13.8

32. 31 Operating margin per division Industrial Service Automotive % Excluding one-off items (eg. restructuring, impairments, capital gains) 2009 2010 2011

33. 32 SEKm 20112010 Net sales16,70214,446 Operating profit2,5041,702 Operating margin, %15.011.8 Operating margin excl. restructuring, %15.012.4 Profit before taxes2,3181,504 Net profit1,6201,070 Basic earnings per share, SEK3.442.27 Cash flow, after investments before financing 37232 First quarter 2011

34. 33 Inventories as % of annual sales % Long-term target level: 18% 2009 2010 2011

35. 34 Cash flow, after investments before financing SEKm 2009 2010 Cash out from acquisitions (SEKm) : 2009241 20106,799 2011

36. 35 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. % 9.1 24.0 Long-term target: 27% 25.6

37. 36 Net debt (Short-term financial assets minus loans and post-employment benefits) SEKm AB SKF, dividend paid (SEKm) : 2009 Q21,594 2010 Q21,594 Proposal to the Board to be decided in April: 2011 Q22,277 2009 2010 Cash out from acquisitions (SEKm) : 2009241 20106,799 2011

38. 37 Debt structure Maturity years, EURm 55 446 530 100 Credit facilities: EUR 500 m 2014, whereof EUR 400* m utilized SEK 3,000 m 2017, unutilized No financial covenants nor material adverse change clause 400* 130

39. 38 March 2011: Outlook for the second quarter 2011 Demand compared to the second quarter last year The demand for SKF products and services is expected to be significantly higher for the Group and all geographical regions. It will be significantly higher for Industrial Division and the Service Division and slightly higher for Automotive Division. Demand compared to the first quarter 2011 The demand is expected to be slightly higher for the Group, higher in Asia and Latin America, slightly higher in North America and relatively unchanged in Europe. The Industrial Division and the Service Division are expected to be slightly higher and the Automotive Division relatively unchanged. Manufacturing level The manufacturing level will be significantly higher year on year and relatively unchanged compared to the first quarter.

40. 39 Volume trends, regions (based on current assumptions and adjusted for seasonality) Daily volume trends for: Q1 2011 Q2 2011 Net sales 2010 Europe46% North America18% Asia Pacific27% Latin America6% Total Outlook Q2 2011 vs 2010 +++

41. 40 Volume trends, divisions (based on current assumptions and adjusted for seasonality) Daily volume trends for Q2 2011 Net sales 2010 Industrial32% Service36% Automotive30% Total Outlook Q2 2011 vs 2010 +++

42. 41 14% 12% 5% 25% 18% 10% 5% 4% 3% Cars Vehicle Service Market Energy Industrial distribution Industrial OEM, General+Special Industrial OEM, Heavy + Off- highway Aerospace Railway Trucks Electrical and two-wheeler Sequential volume trend main segments Q2 2011 (based on current assumptions) Net sales 2010

43. 42 Guidance for the second quarter 2011 Tax level: around 30% Financial net for the second quarter: Around SEK -175 m Exchange rates on operating profit versus 2010 Q2: SEK -400 m Full year: SEK -1.2 bn Additions to PPE: Around SEK 2.3 bn for 2011 Guidance is approximate and based on current assumptions and exchange rates.

44. 43 Key focus areas ahead 2011 Profit and cash flow - manage currency and material headwinds Manufacturing and suppliers to support growth Growing segments and geographies Initiatives and actions to support long term targets Integration of Lincoln Industrial Business Excellence and competence development One SKF and SKF Care as guiding lights

45. 44 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”.

46. 45 Welcome to the IR website – www.skf.com > Investors Investor Relations function: Head: Marita Björk Tel: +46 31 3371994 Mobile: +46 705 181994 E-mail: marita.bjork@skf.com Investor Relations: Anna Alte Tel: +46 31 3371988 Mobile: +46 705 271988 E-mail: anna.alte@skf.com Event coordinator and secretary: Monica Svensson Tel: +46 31 3372452 Fax: +46 31 3371722 E-mail: monica.svensson@skf.com

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