November 4th, 2011

THIRD QUARTER 2011 RESULTS

2

Forward Looking Statement

This presentation includes forward-looking statements or statements about events or

circumstances which have not occurred. We have based these forward-looking statements

largely on our current expectations and projections about future events and financial trends

affecting our business and our future financial performance. These forward-looking

statements are subject to risks, uncertainties and assumptions, including, among other things:

general economic, political and business conditions, both in Brazil and in our market. The

words “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,” “expects” and

similar words are intended to identify forward-looking statements. We undertake no

obligations to update publicly or revise any forward-looking statements because of new

information, future events or other factors. In light of these risks and uncertainties, the

forward-looking events and circumstances discussed in this presentation might not occur. Our

actual results could differ substantially from those anticipated in our forward-looking

statements.

• 3Q11: delivery of 28 jets and sale of 17 E-Jets, reaching 1,018 firm orders.

• Six more orders to GECAS in early October, to be included in the 4Q11

firm order backlog.

3

• Delivery of the 800th aircraft (EMBRAER 190)

to China Southern Airlines.

Recent Highlights

4

• NBAA: firm order for 13 Legacy 650

jets from China’s Minsheng Financial

Leasing Co.

Recent Highlights

• 3Q11: delivery of 18 jets (17 light jets and one large jet).

5

• Creation of Harpia Sistemas S.A., to develop

national Unmanned Aerial Systems (UAS).

Recent Highlights

6

• Embraer named leader of Dow Jones

Sustainability Index (DJSI) in

Aerospace and Defense sector.

Recent Highlights

• EMBRAER and GE successfully

conclude Bio-Jet fuel tests.

60%48%

61% 59%67% 62%

19%32% 10% 16%

9%12%

7%12%

12%11% 10% 11%

14%8%

17% 14% 14% 15%

3Q10 4Q10 1Q11 2Q11 3Q11 YTD

50%

13%

24%

13%

Defense and security

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Revenue by Segment

Commercial aviation Executive aviation Aviation services and others

1.04 Revenue

US$ Billion1.36 1.361.051.97 3.78

Services Breakdown

20

30

2025

213

2 3 1

22

48

6

20 17

28

3Q10 4Q10 1Q11 2Q11 3Q11

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Aircraft Deliveries

Executive Large Jets Executive Light JetsCommercial JetsPhenomLegacy e Lineage

9

Firm Order Backlog

Firm Order Backlog

US$ Billion

14.8

18.820.9

16.6 16.015.6

2006 2007 2008 2009 2010 3Q2011

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Revenues and Gross Margin

IFRS - US$ Million IFRS - R$ Million

Revenues Gross Margin

2,2662,1691,757

3,342

1,820

21.2%22.4%

24.3%16.8%

20.6%

3Q10 4Q10 1Q11 2Q11 3Q11

1,044

1,970

1,0561,359 1,364

21.2%22.4%

24.3%

16.8%

20.5%

3Q10 4Q10 1Q11 2Q11 3Q11

Revenues: US$ 3.78 Billion

Gross Margin: 22.5%YTD

89106

94109

53

6157

64 69

103

3Q10 4Q10 1Q11 2Q11 3Q11

155179

157 174

92

103

95

103 113

167

3Q10 4Q10 1Q11 2Q11 3Q11

11

SG&A Expenses

Selling Expenses

247

282

142

167173 172

277 280

IFRS - US$ Million

G&A Expenses

151

252

IFRS - R$ Million

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Income from Operations

EBIT

IFRS - US$ Million

EBIT Margin

IFRS - R$ Million

225

157 169

212

116

9.4%

7.8%8.9%6.7%

6.4%

3Q10 4Q10 1Q11 2Q11 3Q11

132

94106

124

66

9.1%

7.8%8.9%6.7%

6.4%

3Q10 4Q10 1Q11 2Q11 3Q11

EBIT: US$ 324 Million

EBIT Margin: 8.6%YTD

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EBITDA

EBITDA

IFRS - US$ Million

EBITDA Margin

IFRS - R$ Million

311

250260

335

227

13.7%

11.5%

14.8%

10.0%12.5%

3Q10 4Q10 1Q11 2Q11 3Q11

131

197

156 153

188

12.5% 10.0%

14.8%

11.3%

13.8%

3Q10 4Q10 1Q11 2Q11 3Q11

EBITDA: US$ 498 Million

EBITDA Margin: 13.2%YTD

126 123105 96

2

12.1%

6.2%

10.0%

7.1%

0.1%

3Q10 4Q10 1Q11 2Q11 3Q11

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Net Income

Net Income

IFRS - US$ Million

Net Margin

IFRS - R$ Million

220 208174

154

0

12.1%

6.2%

9.9%

7.1%

0.0%

3Q10 4Q10 1Q11 2Q11 3Q11

* 3Q11 Adjusted net income excluding deferred income taxes was US$ 125.7 million and R$ 213.0 million.

* *

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Inventories / Free Cash Flow

Free Cash FlowInventories

2,708

2,198

2,5612,697

2,872

3Q10 4Q10 1Q11 2Q11 3Q11

(112)

(38)

(126)

193

(66)

3Q10 4Q10 1Q11 2Q11 3Q11

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Indebtedness Profile / Net Cash

Long-term Short-term

Loans Average Maturity (Years)

Indebtedness Maturity Net Cash

Total Debt 3Q11: US$ 1.8 Billion Total Cash 3Q11: US$ 2.0 Billion

618692

505406

193

3Q10 4Q10 1Q11 2Q11 3Q11

90% 87%

6% 5%

74%95%

94%

26%13%10%

4.5

5.0

5.7

6.36.1

3Q10 4Q10 1Q11 2Q11 3Q11

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