1. 0 15 July 2009

2. The SKF Group Half-year results 2009 Tom Johnstone, President and CEO

3. 2 15 July 2009 Key points from Q2 report Record quarterly cash flow Q2: SEK 2,425 mH1: SEK 2,948 m Dramatic drop in sales volume continued Q2: -30.8% H1: -28.9% Strong price/mix Q2: 5.6%H1: 6.3% Cost reduction efforts in focus and giving results - new programme announced - annualised savings from all programmes, around SEK 800 million - in addition, significant short-time working being utilized Demand outlook for Q3 - significant decline year over year - decline levelling off sequentially

4. 3 15 July 2009 Highlights Q2 2009 SKF inaugurated a new Solution Factory in Turin, Italy signed a contract with Cambridge University Department of Materials Science and Metallurgy to set up the SKF University Technology Centre on Steels on campus in Cambridge won an order to supply Guohua Energy Investment Co. Ltd. in China with SKF WindCon online condition monitoring systems and other related services signed a long-term contract with Hero Honda in India to supply ball bearings acquired the remaining 49% of the shares in Macrotech Polyseal Inc., now called SKF Polyseal Inc. in cooperation with the Czech police, confiscated over 30 tons of counterfeit SKF bearings.

5. 4 15 July 2009 SEKm 20092008 Net sales14,16716,077 Operating profit474*2,135 Operating margin3.4%13.3% Operating margin excl. restructuring, %6.9%13.3% Profit before taxes3121,978 Net profit3231,369 Basic earnings per share, SEK0.692.95 Cash flow after investments before financial items 2,425872 Second quarter 2009 * Q2 restructuring SEK 500 m Operating profit excl. restructuring activities SEK 974 m

6. 5 15 July 2009 SEKm 20092008 Net sales29,01631,673 Operating profit1,242*4,175 Operating margin4.3%13.2% Operating margin excl. restructuring, %6.6%13.2% Profit before taxes8433,902 Net profit7172,665 Basic earnings per share, SEK1.555.72 Cash flow after investments before financial items 2,948741 Half year 2009 * H1 restructuring SEK 675 m Operating profit excl. restructuring activities SEK 1,917 m

7. 6 15 July 2009 Growth in local currency (Organic growth + Acquisition/Divestments) % y-o-y Acquisitions/Divestments Organic growth 13.2% Long-term target level: 6-8% per annum 7.1% -21.3%

8. 7 15 July 2009 Sales in local currencies (excl. structural changes) % change y-o-y 2007 2008 2009

9. 8 15 July 2009 Sales volume % change y-o-y 2007 2008 2009

10. 9 15 July 2009 Components in net sales Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2 7.96.99.06.34.96.22.7-13.0 -26.9-30.8 4.04.63.71.0 1.30.52.41.41.1 1.82.72.03.23.84.06.48.57.15.6 13.714.214.710.59.711.59.6-2.1-18.4-24.1 -5.6-2.3-1.9-2.0-1.2-4.1-0.910.313.612.2 8.111.912.88.5 7.48.78.2-4.8-11.9 Percent y-o-y Volume Structure Price / Mix Sales in local currency Currency Net sales 2007 2008 2009

11. 10 15 July 2009 Operating margin % 12.9 12.2 Long-term target level: 12% 4.3 13.3* 12.7* 6.6* Restructuring and one-time items * Excluding restructuring and one-time items

12. 11 15 July 2009 Operating margin % 2007 Long-term target level: 12% 2008 2009 Restructuring and one-time items

13. 12 15 July 2009 Operating margin per division Industrial Service Automotive % 20072008 Excluding one-off items (eg. restructuring, impairments, capital gains) 2009

14. 13 15 July 2009 Activities to adapt to lower demand Restructuring/impairment programmes People Costs charged to operating profit announced:Q4 20082,500SEK 340 m Q1 2009 500SEK 175 m Q2 2009 900SEK 500 m 3,900SEK 1,015 m At the end of June 2009, around 3,800 people have left the Group since H2 2008, of which around 2,000 people under the programmes. Total savings from these activities SEK 800 m. In addition, around 18,000 people in short-time working.

15. 14 15 July 2009 Inventories as % of annual sales % 2007 Long-term target level: 18% 2008 2009

16. 15 15 July 2009 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% 24.9 24.0 13.4

17. 16 15 July 2009 Net debt (Short-term financial assets minus loans and post-employment benefits) SEKm AB SKF, dividend paid (SEKm) : 2007 Q2 2,049 2008 Q22,277 2009 Q21,594 Redemption (SEKm) : 2007 Q2 4,554 2008 Q22,277 20072008 2009

18. 17 15 July 2009 AB SKF, debt structure Amount in millionMaturity Euro BondEUR 132*2010-06 SEK BondSEK 1,5002011-06 Term loan in euro EUR 1502013-06 Euro BondEUR 5002013-12 Euro loansEUR 1302014-03 Euro loan EUR 1002016-06 * Was EUR 250 million, reduced by EUR 118 million in Q2.

19. 18 15 July 2009 Cash flow, after investments before financial items 2007 SEKm Cash out from acquisitions* (SEKm) : 20071,209 2008 1,284 2009223 2008 2009 * including non-controlling interests.

20. 19 15 July 2009 July 2009: Outlook for the third quarter 2009 Compared to last year the demand for SKF products and services is expected to be significantly lower in the third quarter compared to the third quarter last year for the Group in total, for all the Divisions and for all regions. Compared to the second quarter and adjusted for seasonality, demand is expected to be relatively unchanged for the SKF Group in total. It is expected to be lower in Europe, relatively unchanged in North America and slightly higher in Asia and Latin America. It is expected to be slightly higher for the Automotive Division, relatively unchanged for the Service Division and slightly lower for the Industrial Division. The manufacturing level will be significantly lower year on year and relatively unchanged compared to the second quarter.

21. 20 15 July 2009 Volume trends (based on current assumptions) Daily volume trends for: Q2 2009 Q3 2009 Net sales 2008 Europe 56% North America17% Asia Pacific19% Latin America5% Total Outlook Q3 2009 vs 2008 ---

22. 21 15 July 2009 20%Industrial OEM, General+Special 12% 6% 5% Industrial OEM, Heavy+Off-highway Energy Aerospace 23% 5% Industrial distribution Trucks 13% 9% 3% Cars Vehicle Service Market Railway Electrical and two-wheeler Sequential volume trend main segments Q3 2009 (based on current assumptions) Net sales 2008

23. 22 15 July 2009 Guidance for the third quarter 2009 Tax level: around 30% Financial net for the third quarter: Around SEK -200 million Exchange rates on operating profit versus 2008 Q3: SEK 260 million Full year: SEK 900 million Additions to PPE: Slightly below SEK 2 billion for 2009 Guidance is approximate and based on current assumptions and exchange rates

24. 23 15 July 2009 Key focus areas ahead 2009 Profit and cash flow - maintain positive price/mix - drive operational efficiency and cost reduction - reduce working capital and investments Adjustment of manufacturing output to new demand levels - restructuring - short-time working Growing segments and geographies Strengthening the platform/segment approach Competence development SKF Care and Six Sigma as guiding lights

25. 24 15 July 2009 SKF Care Employee Care Community Care Environmental Care Business Care BeyondZero TM SKF Care Operating margin

26. 25 15 July 2009 SKF Group Vision To equip the world with SKF knowledge

27. 26 15 July 2009 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; "Most important factors influencing the financial results", "Financial risks" and "Sensitivity analysis”.

28. 27 15 July 2009