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The SKF Group

The SKF Group. SKF Investor Relations October 2013. SKF - A truly global company. Established: 1907 Sales 2012: SEK 64,575 million Employees 2012: 46,775 Production sites: around 140 in 28 countries SKF presence: in over 130 countries Distributors/dealers: 15,000 locations

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The SKF Group

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  1. The SKF Group SKF Investor Relations October 2013

  2. SKF - A truly global company • Established: 1907 • Sales 2012: SEK 64,575 million • Employees 2012: 46,775 • Production sites: around 140 in 28 countries • SKF presence: in over 130 countries • Distributors/dealers: 15,000 locations • Global certificates: ISO 14001 • OHSAS 18001 certification

  3. Net sales - 2012 Middle East & Africa Cars and light trucks North America Industrial distribution Asia/Pacific Aerospace Railway Latin America Off-highway Eastern Europe Trucks Sweden Two-wheelers and Electrical Vehicle aftermarket Energy Industrial, general 9% Western Europe Industrial, heavy and special * Previously published shares have been restated in February 2013

  4. (1998) (2002) % of group total SKF 2012 Net sales (44) (53) (48) Average number of employees Tangible asset (47) (46) (53) (10) (9) (12) (14) (13) (8) (14) (25) (19) (26) (13) (18) (14) (12) (5) (9) (3) (3) (6) (5) (4) (5) (12) (15) (3) (9) (3) (4) (3) (4) (2) (0) (3) (2) (2) (0) North America WesternEurope Eastern Europe Sweden Latin America Middle East and Africa Asia/Pacific

  5. Operating margin %

  6. Return on capital employed %

  7. Growth in local currencies %

  8. Long-term financial targets • 27% • Return on capital employed 8% Changes in sales in local currency, incl. structure 15% Operating margin, level September 2013

  9. SKF’s priorities • Sustainable profitable growth • Expand the platform concept • Exploit the asset life cycle approach • Develop new products and grow SKF BeyondZero portfolio • Extend and grow second brands • Acquisitions • Investments & Innovation • New and existing facilities • Research and development • Capital efficiency • Fixed cost reduction • Working capital efficiency • Cost reduction • Consolidation of manufacturing • Optimization and productivity improvements • Reduction in purchasing costs

  10. SKF Group Vision To equip the world with SKF knowledge

  11. SKF BeyondZero • SKF launched the BeyondZeroTM 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’s climate strategy targets: • Increase revenue from SKF BeyondZero portfolio from SEK 2.5 bn to SEK 10 bn by 2016 •Reduce total annual energy use by 5% below the 2006 level by 2016 • Reduce energy use per production output by 5% y-o-y from 2012 to 2016 • Reduce CO2 emissions per tonne-kilometre by 30% 2016 vs 2011 for transports managed by SKF Logistics Services • Major suppliers certified according to ISO 50001 by 2016

  12. Nordic (Gothenburg) Moscow Edmonton UK Poland Rumania France Germany Spain Italy Tianjin Cleveland Istanbul Shanghai Houston Taiwan Monterrey Mexico Pune Colombia Brasil “IXION” Johannesburg Perth Opened Planned 23 SKF Solution Factories 2013

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

  14. Slab continuous caster – metal industry Telescopic actuators for mould adjustment SKF ConRo Compact roll line units SKF ConRo Low roll line units SKF ConRo Top roll line units SKF DryLube Bearings and SNL Housings for roll out table SKF sealed self-aligning bearing system (CARB and spherical roller bearings) and centralized lubrication system for roll lines SKF Caster Analyst System for roll lines

  15. Wheel-loader – Construction Chassis lubrication Centralized lubrication systems Central gear Hybrid pinion units Motor hood Electromechanical actuators Wheel end • Integrated smart wheel bearing units with sensors • SKF Mudblock cassette seals

  16. Wind turbine - Energy New CRB-design with extra-high carrying capacity for wind-gearboxes. New pitch bearing design with improved corrosion protection SKF WindCon 3.0/Webcon Intranet supervised condition monitoring DRTRB-unit SKF Nautiluswith segmented cage for minimized friction Automatic centralized lubrication kits for reduced maintenance cost XL Hybrid bearings with ceramic balls for superior insulation

  17. SKF’s environmentally positive customer solutions SKF’s solutions which realize significant environmental benefits Designed for environment Applied for environment Up to 15% better fuel economy of the car Stop-start system SKF sensor bearing E2 - 30% less energy compared to a standard bearing A solution that enables improved environmental performance in a specific application A solution that is primarily designed to improve environmental performance by itself

  18. SKF energy efficient (E2) bearings Peru Industria Textil Piura 60,000 E2 deep groove ball bearing • Indonesia • Leuwijaya Textile • 30,000 E2 bearing • potential 325,000 for 3 different customers • China • Conveyors used in mining industry. 130,000 E2 bearing • India • Sangam Group

  19. What is SKF knowledge?

  20. SKF technology platforms Bearings and units

  21. SKF technology platforms Seals

  22. SKF technology platforms Mechatronics

  23. SKF technology platforms Lubrication systems

  24. SKF technology platforms Services

  25. Acquisition 2003-2013Identifying gaps and opportunities in all platforms Seals Services Bearings and units Lubrication systems Mechatronics Safematic(2006) ABBA(2007) Economos(2006) SNFA(2006) Baker(2007) Jaeger(2005) Macrotech(2006) Macrotech (2009) GLO(2008) S2M(2007) Vogel(2004) Lincoln Industrial(2010) PMCI(2007) ALS(2007) QPM(2008) TCM (2003) Sommers(2005) PB&A(2006) Scandrive(2003) Monitek(2006) Cirval(2008) Peer(2008) BVI(2013) GBC(2012)

  26. SKF Nine-month results 2013 Tom Johnstone, President and CEO

  27. Highlights Q3 2013 • Acquisition of Kaydon Corporation announced. • New business • Agreements with Fiat, worth SEK 1 billion for the delivery of wheel hub bearing units. • Agreements with Great Wall Motors in China for high pressure valve stem seals and bearing retainers. SKF and Great Wall Motors also signed a strategic partnership for developing sustainable solutions in energy efficient vechicles. • A supply agreement with Goldwind, worth SEK 100 million for SKF Nautilus bearing units. • Major orders from Tangshan Loco and Changchun Railway Co for wheel set bearings for high speed trains. • Order from a Chinese customer, worth SEK 22 million for bearings for upgrading local coal power plants. • An order from an European customer, worth SEK 21 million for cryogenic bearings.

  28. Highlights Q3 2013 • A three-year service contract, worth SEK 43 million with a major oil and gas company in Latin America. • An agreement with Wuhan Iron & Steel Heavy Industry Group Co, Ltd (WISCO Heavy) to establish a remanufacturing centre in Wuhan, China. • SKF opened a gearbox remanufacturing centre in Tianjin, China. • SKF Distributor College awarded its 190,000th certificate. SKF’s factory in Dalian, China was awarded LEED Gold certification. SKF was included in the Dow Jones Sustainability Indexes for the 14th successive year.

  29. Kaydon Corporation • Key facts and figures - 2012 • Headquarters in Ann Arbor, Michigan U.S. • Established 1941 • USD 475 million in sales • 2,187 employees Friction control 54% Velocity control 23% Specialty products 23% Ring & Seal Bearing

  30. Kaydon net sales – 2012 Industries Geographies Other Automation & Robotics Asia Other PowerGeneration Europe Semicond. PetroleumProcessing North America MedicalEquipment Aerospace HeavyEquipment Military

  31. New products - examples Sealed SKF single row angular contact ball bearings Reinforced all-rubber HSS seals Super precisions bearings for wood-working applications SKF Axial excluder seal SKF Condition Based Lubrication Maintenance products: Grid and gear coupling grease Oil storage station Digital oil pressure gauge

  32. SKF Group – Q3 2013 • Financial performance 2013 2012 • Net sales, SEKm 15,623 15,486 • Operating profit, SEKm 1,923 1,908 • Operating margin, % 12.3 12.3 • Operating margin excl. restructuring,% 12.9 12.3 • Profit before tax, SEKm 1,717 1,709 • Cash flow, SEKm 1,135 1,097 • Organic sales growth in local currency: • SKF Group: 2.0% • Strategic Industries: -0.9% • Regional Sales and Service: 0.3% • Automotive: 7.5% • Key points • Sales volumes up by 2.2% y-o-y • Manufacturing slightly higher compared to last year • Inventories 21.3% of sales Europe: 1% North America: -2% Asia: 5% Latin America: 9%

  33. Organic sales growth in local currency % change y-o-y 2011 2012 2013

  34. Growth development by geographyOrganic growth in local currency Q3 2013 vs Q3 2012 Europe1% North America -2% Asia/Pacific 5% Latin America 9% Middle East & Africa 8%

  35. Growth development by geographyOrganic growth in local currency YTD 2013 vs YTD 2012 Europe-4% North America -4% Asia/Pacific -3% Latin America 10% Middle East & Africa 0%

  36. Components in net sales 2013 2011 2012

  37. Growth in local currency, including structure % y-o-y 16.3% -1.2% -2.1% Structure in 2011: 4.8% Structure in 2012: 0.4% Structure in YTD 2013: 1.8%

  38. Operating profit SEKm 2012 2011 2013 One-time items

  39. Operating margin % 2011 2012 2013 One-time items

  40. Operating margin % 14.7* 12.2* 12.0* 14.5 11.4 11.1 One-time items * Excluding one-time items

  41. Operating margin per business area % Regional Sales and Service Strategic Industries Automotive 2012 2013 2011 Excluding one-off items(eg. restructuring, impairments, capital gains)

  42. Inventories as % of annual sales % 2011 2012 2013

  43. Return on capital employed One-off costs * Excluding one-off costs % 23.9* 23.6 17.2* 15.2* 16.2 13.5 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.

  44. Cash flow, after investments before financing SEKm * *** ** 2012 2013 2011 * SEK 1,707 million,excluding acquisitions and divestments. ** SEK -69 million, excluding acquisitions and divestments. *** SEK 871 million, excluding acquisitions and divestments.

  45. Net debt SEKm AB SKF, dividend paid (SEKm): 2011 Q2 2,277 2012 Q2 2,504 2013 Q2 2,530 Cash out from acquisitions (SEKm): 2012 Q3 829 2013 Q1 823 2012 2013 2011 Net debt: Loans and net provisions for post-employment benefits less short-term financial assets excluding derivatives.

  46. Debt structure, maturity years EURm 500 500 265 110 100 100 100 100 • Available credit facilities: • EUR 500 million 2017 SEK 3,000 million 2017 • No financial covenants nor material adverse change clause

  47. Third quarter 2013

  48. Nine-month 2013 * excluding acquisitions and divestments, SEK 1,947 million (3,112).

  49. October 2013: SKF demand outlook Q4 2013 Demand compared to the fourth quarter 2012 The demand for SKF’s products and services is expected to be slightly higher for the Group, Asia and Europe and relatively unchanged for North America and Latin America. It is expected to be slightly higher for Strategic Industries and Regional Sales and Service and higher for Automotive. Demand compared to the third quarter 2013 The demand for SKF’s products and services is expected to be relatively unchanged for the Group, Europe, North America and Latin America as well as for all the business areas. It is expected to be slightly higher for Asia. Manufacturing Manufacturing is expected to be higher year over year and relatively unchanged compared to the third quarter.

  50. SKF demand outlook Q4 2013, regions

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