Conference Call 1Q11

1. FIRST QUARTER 2011 RESULTS
May 3rd, 2011

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.

3. Recent Highlights
• Agreement for the delivery of 20 E-Jets to Alitalia.
• Sale of four EMBRAER 190 jets to Trip Linhas Aéreas.
• Arrangement with Dniproavia to deliver ten EMBRAER 190, plus five options.
• CDB Leasing contract for twenty EMBRAER 190 Jets.
• Chinese Hebei Airlines order for ten EMBRAER 190 and
purchase rights for additional five units.
• KLM Cityhopper converts options for five E-Jets.

4. Recent Highlights
• Legacy 650 receives FAA certification.
• Phenom 300 wins Flying Magazine Editors’ Choice Award.
• Agreement with AVIC for industrial cooperation to assembly Legacy 600/650 in China.
• Embraer expands its customer support network in China, Middle East,
India, Africa, Australia and USA (Provo, UT and Windsor Locks, CT).
• Embraer inaugurates its first U.S. final assembly plant in Melbourne, FL.

5. Recent Highlights
• Contract with Brazilian Air Force – FAB to overhaul
43 AMX jet fighters.
• Contract to modernize 11 additional F-5 jet fighters for FAB.
• Embraer Defense and Security acquires 65% of OrbiSat’s radar division.
• Agreement with AEL Sistemas focusing the UAV market.
• Acquisition of 50% of Atech.

6. Revenue by Segment
Revenue
1.00 1.35 1.04 1.97 1.05 US$ Billion
11% 8%
14% 14% 17% 10%
12%
13% 7%
19% 12% 22%
58%
14% 19% 10%
12% 32% 10%
62% 60% 61%
55%
48%
1Q10 2Q10 3Q10 4Q10 1Q11
Commercial aviation Executive aviation Defense and security Aviation services and others

7. Aircraft Deliveries
2011 deliveries estimates
• 102 commercial jets
• 18 executive large jets*
• 100 executive light jets**
48
39
29 30
21 20 22 20
17
13
3 1 2 2 6
1Q10 2Q10 3Q10 4Q10 1Q11
Commercial Jets Executive Large Jets* Executive Light Jets**
* Legacy e Lineage
** Phenom

8. Firm Order Backlog
US$ Billion
3.8
3.0 3.2 3.0
2.8 2.9
18.8 20.9
14.8 16.6 15.6 16.0
2006 2007 2008 2009 2010 1Q2011
Firm Order Backlog Backlog/Revenue (Years)

9. Revenues and Gross Margin
IFRS - US$ Million IFRS - R$ Million
24.3% 20.8% 24.3%
20.8% 20.2% 20.5% 20.2% 20.6%
16.8% 16.8%
1,970 3,342
2,435
1,358
992 1,044 1,056 1,783 1,820 1,757
1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11
Revenues Gross Margin
2011 Outlook: Revenue - US$ 5.60 billion

10. SG&A Expenses
IFRS - US$ Million IFRS - R$ Million
167 282
151 256 247 252
143 142
61 218 103
121 88
49 57 92 95
53 63
35
106 168 179
86 94 89 94 155 155 157
1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11
G&A Expenses Selling Expenses

11. Income from Operations
IFRS - US$ Million IFRS - R$ Million
9.0% 6.7% 8.9% 9.0% 6.7% 8.9%
7.2% 6.4% 7.1%
6.4%
132 219 225
122
94 157
71 127 116
66
1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11
EBIT EBIT Margin
2011 Outlook: EBIT - US$ 420 million / EBIT Margin - 7.5%

12. EBITDA
IFRS - US$ Million IFRS - R$ Million
12.5% 14.8% 14.8%
11.8% 12.2% 11.8% 12.2% 12.5%
10.0% 10.0%
197 335
166 298
156 260
131 210 227
117
1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11
EBITDA EBITDA Margin
2011 Outlook: EBITDA - US$ 610 million / EBITDA Margin - 11%

13. Net Income
IFRS - US$ Million IFRS - R$ Million
9.9%
12.1% 9.9% 12.1%
6.2% 6.2%
4.2% 4.2%
2.4% 2.5%
220 208
126 123 174
105
57
102
24 44
1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11
Net Income Net Margin

14. Inventories / Free Cash Flow
Inventories Free Cash Flow
220
193
2,708
2,482 2,561
2,371
2,198
(60) (66)
(126)
1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11

15. Indebtedness Profile / Net Cash
Indebtedness Maturity Net Cash
6% 5% 10%
26% 22%
6.1 6.3
5.8 5.7
5.0
94% 95% 90% 692
652 618
78% 505
74% 444
1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11
Long-term Short-term
Loans Average Maturity (Years)
Total Debt 1Q11: US$ 1.51 Billion Total Cash 1Q11: US$ 2.02 Billion