2

Corporate and Business Strategy

• Product strategy.

• Diversification and expansion of customer base.

• Excellence in Customer Experience (ECE).

• Market share growth.

• Margins improvement.

• Product strategy and customer support focus.

• Organic growth.

• Margins enhancement through the P3E.

• Business and revenues diversification.

• Establish Embraer as the defense house of Brazil.

• Organic growth and acquisitions.

3

Aircraft Deliveries

Large Jets - Legacy & Lineage

Light Jets - Phenom

Commercial Jets

103

133

165

125105101

2006 2007 2008 2009 2010 2011

2736 37

16

98

126

83

21 19

2

2006 2007 2008 2009 2010 2011

Executive Jets

4

Revenues

3,760

5,245

6,3355,498 5,364

5,803

2006 2007 2008 2009* 2010* 2011*

2011 Outlook: US$ 5.6 – 5.8 billion 2006-2008: USGAAP

2009-2011: IFRS *

US$ Million

5

69%61% 64%

17%23% 19%

12% 15% 15%

2% 1% 2%

2009 2010 2011

22%13%

20%

33%

33%25%

7%15% 11%

11% 13% 17%

21% 22% 23%

6% 4% 4%

2009 2010 2011

Revenues Breakdown

Revenues by Segment Revenues by Region

Commercial aviation

Executive aviation Others

Defense and security North America

Brazil

Europe

Asia Pacific

Latin America Others

Net Revenues

US$ Billion

5.80 5.49 5.36 5.80 5.49 5.36

6

Firm Backlog

US$ Billion

14.8

18.820.9

16.6 15.415.6

2006 2007 2008 2009 2010 2011

Commercial aviation

Executive aviation

Defense and security

21%

29%

50%

83 Airlines from 48 Countries

7

8

Product Portfolio

capacity: 70 to 80 seats

range: 2,100 nm (3,900 Km)

capacity: 78 to 88 seats

range: 2,000 nm (3,700 Km)

capacity: 98 to 114 seats

range: 2,400 nm (4,500 Km)

capacity: 108 to 122 seats

range: 2,200 nm (4,100 Km)

capacity: 37 seats

range: 1,750 nm (3,250 Km)

capacity: 50 seats

range: 1,550 nm (2,900 Km)

capacity: 50 seats

range: 2,000 nm (3,700 Km)

capacity: 44 seats

range: 1,650 nm (3,050 Km)

9

E-Jets Customer Base Evolution

60

110 112 118

245

343

440

619

764

1018

0

200

400

600

800

1000

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008-11

Accu

mu

late

d F

irm

Ord

ers

1 2 3 4 9 14 19 28 42 60Customers/Operators

EIS

10

Worldwide Distribution

E-Jets Customer Base by Business Model

(% of E-Jets Fleet+Backlog)

Firm Orders

Commercial Jets Market Share Evolution Worldwide

Considering Accumulated Net Orders

60-120 Seats Jets

41%

32%

27%

44%

12%

26%

6%12%

33%16%

8%

30%13%

Backlog

Europe & CIS

Middle East & Africa

Latin America

North America

Asia Pacific & China

43%

30%

3%

7% 5%

Low Cost Carriers

Regional Airlines

Network Airlines

11

E-Jets Deployment

World

Right-sizing New Markets Replacement of

old Jets

Natural

Growth

helping airlines to be more efficient

Around 7,225 jet deliveries (30-120 seats) in the next 20 years (US$ 320 bi)

12

Embraer Market Forecast (2011-2030)

North

America

840 32%

North

America

2,350 33%

Latin

America

315 12%

Latin

America

670 9%

Europe

580 22%

Europe

1,675 23%

Russia /

CIS

155 6%

Russia /

CIS

435 6%

Africa

80 3%

Africa

195 3%

Middle

East

105 4%

Middle

East

310 4%

Asia

Pacific

210 8%

Asia

Pacific

615 9%

China

340 13%

China

975 13%

Projected Deliveries - Jets

Market Segment

(Seats)

2010 – 2019

Deliveries

30 - 60 60

61 - 90 1,015

91 - 120 1,550

30 - 120 2,625

Market Segment

(Seats)

2011 – 2030

Deliveries

30 - 60 430

61 - 90 2,670

91 - 120 4,125

30 - 120 7,225

• Scope Clauses relaxation allowing 80-seater aircraft as a natural growth of RJ50s in the US

• Right-sizing of narrow-body operations

• Regional aviation development in Emerging Markets

• Acceleration of replacement of old & inefficient jets

MRJ70

MRJ90

ARJ21

E195

E190

E175

E170

SSJ100/95

CS100

CRJ900

CRJ700

60

70

80

90

100

110

120

1600 1800 2000 2200 2400 2600 2800 3000

Range Nominal

Cap

acit

y 3

2'' p

itch

13

110 Seats

Competitive Landscape

70-90 Seats

100 Seats

14

2011 Highlights

• Delivery of 105 E-Jets in 2011 (32 in 4Q11), reaching 802 total

deliveries since EIS.

• Increased presence with leasing companies

(CIT, BOC Aviation, GECAS, Air Lease, CDB).

• Sale of 45 E-Jets in 4Q11 totaling 124 in 2011 (28% above 2010 sales),

reaching 1,051 firm orders. Book to bill = 1

More than 460 executive jets in operation.

15

16

Product Portfolio

Large

Aircraft Model

Phenom 100

Phenom 300

Legacy 450

Legacy 500

Legacy 600

Lineage 1000

Seats / Range

up to 8 occupants/

1,178 nm

up to 11 occupants/

1,971 nm

7 to 9 passengers/

2,300 nm

8 to 12 passengers/

3,000 nm

13 to 14 passengers/

3,400 nm

13 to 19 passengers/

4,500 nm

Entry

Light

Mid-light

Mid-size

Ultra-large

Super Mid-Size

Certified: 2008

Certified: 2009

Under development

Certified: 2001

Certified: 2008

Ultra-Long Range

Competitors

• Cessna - Mustang CJ1+/M2

• HondaJet

• Cessna - CJ2+/CJ3/CJ4

• Hawker - PremierIA/400XP

• Bombardier - Learjet 40XR

• SyberJet - SJ30

• Bombardier - Learjet 45XR

• Cessna - XLS+/Latitude

• Hawker 750

• Bombardier - Learjet 60XR/85

• Cessna - Sovereign

• Hawker - H900XP

• Gulfstream – G150

• Bombardier - CL605/GL5000

• Dassault - Falcon 2000/900LX

• Gulfstream - G350/G450

• Airbus - ACJ 318/319/320

• Boeing – BBJ/BBJ2/BBJ3

• SSJ VIP/ ARJ21B / An-148VIP

Legacy 650 13 to 14 passengers/

3,900 nm Certified: 2010

• Bombardier - GL XRS

• Gulfstream – G500/G550/G650

• Dassault – Falcon 7X

• Bombardier - CL300/CL850

• Cessna - X/Ten

• Dassault - Falcon 2000S

• Gulfstream - G200/G280

• Hawker - H4000

17

25% 24% 22% 21% 20%

33% 35% 37% 40% 33%

7% 7% 7% 6% 9%

12% 13% 13% 14% 11%

2.7% 3.1% 3.5% 3.3% 14%

19% 16% 16% 14% 11%

2% 3% 2% 1% 2%

2005 2006 2007 2008 2009

% O

EM S

har

e –

Tota

l un

its

749 885 1,040 1,154 870

Market Share

Others Hawker-Beech Embraer Gulfstream

Dassault Cessna Bombardier

Deliveries share (units) Revenues share (US$ - based on B&CA list prices)

Market Deliveries 2010: 763 units.

Embraer Deliveries: 145 units.

Market Revenues 2010: $18.2 Bi.

Embraer Revenues: $1.1 Bi.

30% 29% 28% 29% 28%

16% 16% 17% 18% 12%

11% 11% 12% 12% 18%

23% 23% 23% 24% 21%

3.5% 3.9% 4.7% 4.2% 6.4% 10% 9% 8% 8% 8% 5% 8% 6% 5% 6%

2005 2006 2007 2008 2009

% O

EM S

har

e –

Tota

l Re

ven

ue

s U

S$

$13.2Bi $16.6Bi $19.3Bi $22.2Bi $17.2Bi

2010

763

6.9%

2010

$18.2Bi

19%

27%

7%

22%

21%

6% 10%

20%

23%

12%

13%

10%

3%

18

Forecast

-

200

400

600

800

1.000

1.200

1.400

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

ULTRA LARGE

ULTRA-LONG RANGE

LARGE

SUPER MID-SIZE

MID-SIZE

MID-LIGHT

LIGHT

ENTRY*

New bizjet deliveries (Units)

2012-21 Market Forecast World Deliveries

11,275 jets US$ 260 billion over the next 10 years

North America

EMB >170 a/c EMEA

EMB >150 a/c

Asia Pacific

EMB ~20 a/c

Brazil

EMB 90 a/c

Latin America

EMB ~100 a/c

2012-21 Market Forecast and

Embraer Actual Fleet Distribution

19

5,265 a/c (47%)

US$ 109 Bi (42%)

905 a/c (8%)

US$ 16 Bi (6%) 550 a/c (5%)

US$ 8 Bi (3%)

3,415 a/c (30%)

US$ 88 Bi (34%)

1,690 a/c (15%)

US$ 48 Bi (18%)

20

Pre-owned Inventory: Recovering

Business Jets For Sale

21

2011 Highlights

• Legacy 500 first prototype roll out.

• Delivery of 99 executive jets in 2011 (83 light jets and

16 large jets). 50 jets delivered only in 4Q11.

• Global Customer Center opening in

Melbourne, FL and delivery of first

Phenom 100 made in the U.S.A.

• Globally renowned movie star Jackie Chan

joins Legacy 650 family.

Angola

Belgium

Brazil

Niger

France

Gabon

India

Paraguay

Mexico

Peru

Chile

Colombia

Honduras

Uruguay

Argentina

Greece

Italy

Nigeria

EcuadorEquatorial Guinea

Pakistan

Thailand

Dominican Rep.

Panama

United States United Kingdom¹

Kuwait¹

Mauritania

Kenya¹

Togo

Germany

Portugal

Spain

Sweden

Luxembourg

Chad

Libya

Egypt

Tunisia

Canada

Switzerland

Venezuela

Indonesia

Presence in 48 countries.

22

Embraer Defense and Security

Light attack and advanced

training

Light attack and advanced

trainingTransport of authoritiesTransport of authorities

Modernization programsModernization programs Tactical military transportTactical military transportServices

ISR (Intelligence, Surveillance and Reconnaissance)

ISR (Intelligence, Surveillance and Reconnaissance)

Embraer Defense and Security, partners and affiliated companies

System of SystemsSystem of Systems

UAV’sUAV’s

RadarRadar

HARPIA

23

Revenues Evolution (US$ Million)

1.1 1

1.5

3.2 3.33.5

0

1

2

3

4

2006 2007 2008 2009 2010 3T11

US

$ (B

illio

n)

6.3

12.4 12.211.4

13.4

0

2

4

6

8

10

12

14

16

2006 2007 2008 2009 2010

(%)

670499505346227

9%

8%7%

6%

12.6%

0

100

200

300

400

500

600

700

800

2006 2007 2008 2009 2010

US

$ (

Mil

lio

n)

0%

3%

6%

9%

12%

15%

Part

icip

ati

on

(%

)

GAGR

31%

Embraer Defense and Security Results

EBIT Evolution (%) Backlog Evolution (US$ Billion)

24

Super Tucano

25

Firm orders: 180 aircraft

Brazil: 99

Colombia: 25

Dominican Republic: 8

Chile: 12

Ecuador: 18

Indonesia: 8

Greystone (TACAir): 1

Undisclosed: 9

Deliveries: 156 aircraft

Addressable Market Forecast 2020 (US$ million)

Pursuing USAF Light Air

Support competition

Total Market Forecast: 300 aircraft

US$ 3.5 billion

Medium-term

2,000 Short-term

800

Long-term

700

EMBRAER KC-390

26

• A new tactical military transport and

tanker aircraft

• First flight in 2014

• Six countries

• Letters of intent totalizing 60 aircraft

Brazil

(28)

Colombia

(12)

Argentina

(6)

Chile

(6)

Portugal

(6)

Czech Rep.

(2)

Total Market Forecast 2025:

700 aircraft

US$ 50+ bi

A1-M F-5M A-4

Brazilian Navy A-4

12 aircraft

Two prototype at GPX-CS

Brazilian Air Force A-1M

43 aircraft

Five received by Embraer for the

modernization

Brazilian Air Force F-5M

46 a/c + 11 a/c (2nd batch)

44 already delivered Total Market Forecast*: 234 aircraft

US$ 1.6 billion

Addressable Market Forecast 2025 (US$ million)

Short-term

527

Medium-term

505

Long-term

567

* Forecast considering the market for F-5 and Tucano modernization

Modernization Programs

27

New Portfolio

28

HARPIA

Command and Control Systems

Onboard Systems

Simulation Systems

Electronic Warfare Systems

Intelligence Systems

Air Traffic Management and Control Systems

Command and Control Systems

Onboard Systems

Simulation Systems

Electronic Warfare Systems

Intelligence Systems

Air Traffic Management and Control Systems

JV with Elbit/AEL Sistemas where Embraer

Defense and Security has a major

participation

UAS, simulators and modernization of

avionics systems

JV with Elbit/AEL Sistemas where Embraer

Defense and Security has a major

participation

UAS, simulators and modernization of

avionics systems

Air, ground and sea surveillance radars

Remote sensing

Air, ground and sea surveillance radars

Remote sensing

Security of Critical

Infrastructure

Public Security

(sporting events,

cities, states)

Airport

Management

Systems

SISFRON

SisGAAZ

ServicesServices

Engine and Component Maintenance

Overhaul and Modernization

Aerostructure Manufacturing and Assembling

System of SystemsSystem of Systems

UAV’sUAV’s

RadarRadar

29

Brazilian Army Priorities

Comm9% UAV

12%

SW20%

Sensors59%

SISFRON

Integrated Borders Monitoring System

Estimate: US$ 4 Billion

Comprising radars, communication networks, C4I,

unmanned air vehicles (UAV) and armored vehicles

Satellite

Estimate: US$ 400 Million

Participation in the first Brazilian Geostationary Satellite

Transport

4%

Light Attack and

Combat

9%

KC-390

34%

Radar, C4I, UAV,

MRO

18%

New Business

14%

Sisfron, Satellite

10%

Services

11%2020

New Business Airport Management Systems

SisGAAz (“Blue Amazon” Integrated Management System)

Security of Critical Infrastructure

Public Security (sporting events, cities, states)

Services

11%

Modernization

30%

Radar, C4I, UAV,

MRO

25%

Light Attack

9%

ISR

9%

KC-390

16%

Revenues Breakdown Evolution

2011

30

31

2011 Highlights

• Modernization programs of AMX and A-4 Skyhawk on track.

• KC-390 development program ongoing and on

schedule. Selection of main suppliers.

• AEW India program: maiden flight of the

first of three aircraft in 4Q11.

• Growth through acquisitions and partnerships.

HARPIA JV Embraer/

Telebr á s

32

2012 Outlook

33

Net Revenues US$ 5.8 – 6.2 billion

Commercial aviation

Executive aviation

Others

Defense and security

Expected deliveries: 105 to 110 commercial jets,

75 to 85 light jets and 15 to 20 large jets.

62%

20%

16%

2%

EBIT margin

11.5% – 12.5% EBITA margin

8.0% – 8.5%

34

2012 Outlook

US$ 350 million Development

CAPEX US$ 200 million

Research US$ 100 million

CAPEX

R&D

Investment/Revenue

US$ Million

144 151210

450

209

104 74

163

200

197260

235

10%

6%

4%5%

7%

9%

2007 2008 2009 2010 2011E 2012E

TOTAL

US$ 650

million

Financial Results

IFRS

35

US$

2010 198 374

2011 262 420

36

Net Revenues / SG&A Expenses

Net Revenues - US$ Million SG&A Expenses - US$ Million

1,970

1,0561,359 1,364

2,025

22.5%

21.2%22.4%24.3%

16.8%

4Q10 1Q11 2Q11 3Q11 4Q11

US$

2010 5,364 19.1%

2011 5,803 22.5%

Net Revenues Gross Margin Selling Expenses G&A Expenses

10694

109 103

6157

64 6972

114

4Q10 1Q11 2Q11 3Q11 4Q11

172 186

151

173 167

AMR and Other Provisions

• American Airlines: US$ 317 million

• Cancellations fees: US$ 67 million

2011 Results net impact

US$ 293 million

Financial expenses

US$ 107 million

Other operating expenses

US$ 186 million

• Other provisions: US$ 43 million

37

374

537

379318343

392

5.5%

9.1% 7.1%8.5%

6.9% 7.3%

2006 2007 2008 2009* 2010* 2011*

Income from Operations

EBIT: US$ 465 million

EBIT Margin: 8.0% – 8.3% 2011 Outlook:

2006-2008: USGAAP

2009-2011: IFRS *

US$ Million

8.7%

504

38

EBIT EBIT Margin

EBITDA

EBITDA: US$ 700 million

EBITDA Margin: 12.0% – 12.5% 2011 Outlook:

2006-2008: USGAAP

2009-2011: IFRS *

EBITDA EBITDA Margin

US$ Million 12.8%

743

39

433

608 609 611

407

557

9.6%11.4%11.1%

9.6%8.3%

10.8%

2006 2007 2008 2009* 2010* 2011*

40

Income from Operations / EBITDA

Income from Operations - US$ Million EBITDA - US$ Million

94106

124132

(6)

6.7%8.9% 7.8%

9.1%

-0.3%

4Q10 1Q11 2Q11 3Q11 4Q11

59

188153156

197

2,9%

13,8%

11,3%

14,8%10,0%

4Q10 1Q11 2Q11 3Q11 4Q11

US$

2010 392 7.3%

2011 318 5.5%

EBIT EBIT Margin US$

2010 611 11.4%

2011 557 9.6%

EBITDA EBITDA Margin

489

389465

112

390330

10.4%9.3%

6.1%

8.5%

6.2%

1.9%

2006 2007 2008 2009* 2010* 2011*

2006-2008: USGAAP

2009-2011: IFRS *

Net Income Net Margin

US$ Million

5.3%

305

41

Net Income

42

Net Income / Free Cash Flow

Net Income - US$ Million Free Cash Flow - US$ Million

(92)

2

96105123

-4.5%

0.1%

7.1%10.0%

6.2%

4Q10 1Q11 2Q11 3Q11 4Q11

Net Margin Net Income US$

2010 330 6.2%

2011 112 1.9%

193

(126)(38)

(112)

277

4Q10 1Q11 2Q11 3Q11 4Q11

US$

2010 287

2011 1

43

Indebtedness Profile / Net Cash

Indebtedness Maturity Net Cash - US$ Million

Long-term Short-term

Loans Average Maturity (Years)

Total Debt 4Q11: US$ 1.7 Billion Total Cash 4Q11: US$ 2.1 Billion

692

446

193

406505

4Q10 1Q11 2Q11 3Q11 4Q11

87%74%

5% 10%

95% 90% 85%

13%26%

15%

6.3

5.75.0

4.54.8

4Q10 1Q11 2Q11 3Q11 4Q11

44

Investors’ Return

Pay Out EPADS

2006-2008: US GAAP

2009-2011: IFRS *

EPADS and Pay Out Dividend Yield (%)

1.83

2.572.14

2.64

2.11

0.62

34%26%

52%

68%53%

115%

2006 2007 2008 2009* 2010* 2011*

35%

1.68

2.132.01

2.91

4.34

3.28

2.23

2006 2007 2008 2009 2010 2011

NYSE OTHERS

37.0%

OPPENHEIMER

FUND'S

9.0%

THORNBURG

INVESTMENT

7.2%

BM&FBOVESPA

OTHERS

25.2%

BNDESPAR

5.5%

PREVI

10.6%GRUPO

BOZANO

5.6%

NYSE

53.1%

BM&F

BOVESPA

46.9%

45

723,666,644 Voting Shares

Ownership Structure

December, 2011

47

Sustainability Initiatives

Brazilian Alliance for Bio-fuel

Reforestation Projects

ISO 14001 and OHSAS

18001 Certifications

1st ethanol powered

aircraft in the World

Ipanema Recycling

Corporate Values Greener Technology

Social Activities

48

Lean Results: E-Jets Final Assembly

Line Transformation

“Dock” layout - 2008 Assembly Line – 2009 Assembly Line – 2011

0

0

68

8

4

Mar/11

(10ac/month)

00,21,51,510Over time (% of work

hours)

001,7732Number of non-conformity

per a/c

688995106212Work in process (US$mi)

78101218Cycle time (days)

445612Number of positions

Out/11

(12ac/month)

June/2010

(8ac/month)

Sep/2009

(10ac/month)

July/2009

(10ac/month)

May/2008

(15ac/month)

Performance indicators

0

0

68

8

4

Mar/11

(10ac/month)

00,21,51,510Over time (% of work

hours)

001,7732Number of non-conformity

per a/c

688995106212Work in process (US$mi)

78101218Cycle time (days)

445612Number of positions

Out/11

(12ac/month)

June/2010

(8ac/month)

Sep/2009

(10ac/month)

July/2009

(10ac/month)

May/2008

(15ac/month)

Performance indicators

49

P3E Results

Lead Time (E-Jets)

2005 2006 2007 2008 2009 2010 2011

40% reduction on the production cycle

40%

Kaizen - E-Jets Cycle Reduction Cost of Non Quality Reduction

44% reduction on CNQ

Cost of Non Quality

2008 2009 2010

44%

2,52,2

0,40,9 1,2 0,5 0,8

1,6 1,3 1,6 2,53,1

24,022,7

3,5

9,110,7

7,28,4

10,612,7

14,5

22,7

28,3

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Cost: US$ 18.9 mi

Benefit: US$ 175.5 mi

“Boa Idéia” Program Evolution

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.