2. FY2010 Earnings Results and
2011 Outlook
March 25th, 2010

3. 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

4. 2010 Highlights
e
nc
ida ved
Gu hie All 2010 guidance and projections achieved or surpassed.
Ac
EPS of R$ 0.7926 and EPADS of US$ 1.8252.
• Commercial aviation: Book to bill close to one.
97 orders and 101 deliveries.
• Continuous expansion of customers base: 58 in 39 countries.
• 700º E-Jet delivered (British Airways).
• Strong extension in executive jet market, reaching 19% market share.
• 145 jets delivered (19 large jets and 126 light jets).
• Landmark order from NetJets.
• Legacy 650 certified on time.
• Sustainable grow in defense and security.
• New dedicated corporate unit.
• LOIs for up to 60 KC-390 from Brazil, Chile, Colombia,
Portugal, Czech Republic and Argentina.
• Sale of 8 Super Tucano to Indonesia. First in Asia Pacific.
4

5. 2010 Highlights
10th anniversaries: NYSE Euronext listing.
Presence in China, Singapore and GPX.
Embraer elected for the 2nd consecutive year, one of
the best companies to work for in Brazil.
Embraer selected as Gold Class on the DJSI and also on the ISE.
Company’s name changed to EMBRAER S.A. and business scope expanded.
5

6. Net Revenue
US$ Million
6,335
5,245 5,498 5,364
3,760
2006 2007 2008 2009 * 2010 *
Guidance 2010: Net Revenue - US$ 5.25 billion
2008: US GAAP
* 2009-2010: IFRS 6

7. Aircraft Deliveries
2010 deliveries estimates
• 90 commercial jets
• 17 executive large jets*
• 120 executive light jets**
165
133 125 126
103 98 101
36 37
27 2 21 19
2006 2007 2008 2009 2010
Commercial Jets Executive Large Jets* Executive Light Jets**
* Legacy e Lineage
** Phenom 7

8. Firm Order Backlog
US$ Billion
3.8
3.0 3.2 3.0
2.8
30%
20.9
18.8 21%
14.8 16.6 15.6
49%
Commercial aviation
2006 2007 2008 2009 2010 Executive aviation
Defense and security
Firm Order Backlog Backlog/Revenue (Years)
8

9. Revenue Breakdown
Revenue by Segment Revenue by Region
Net Revenue
US$ Billion*
6.33 5.49 5.36 6.33 5.49 5.36
2% 2% 2%
9% 11% 11% 7% 6% 4%
8% 9% 13% 18% 21% 22%
14%
16% 4%
21% 10% 11% 13%
7%
18% 15%
67% 33%
62%
53% 33%
43%
22%
13%
2008 2009 2010 2008 2009 2010
Commercial aviation Defense and security North America Europe Latin America
Executive aviation Aviation services Brazil Asia Pacific Others
Others
2008: US GAAP
* 2009-2010: IFRS 9

10. Financial Results

11. Net Revenues and Gross Margin
IFRS - US$ Million US GAAP - US$ Million
Gu
i
Ach dance
iev
ed
1,970 1,967
1,630 1,610
1,358 1,354
992 1,044 990 1,043
4Q09 1Q10 2Q10 3Q10 4Q10 4Q09 1Q10 2Q10 3Q10 4Q10
Net Revenues Gross Margin Net Revenues Gross Margin
2009 5,498 19.5% 2009 5,466 20.4%
2010 5,364 19.1% 2010 5,355 20.4%
11

12. SG&A Expenses
IFRS - US$ Million US GAAP - US$ Million
167 164
148 143 142 147 144
143
61 61
121 121
55 49 53 55 49 53
35 35
106 103
93 86 94 89 92 86 94 91
4Q09 1Q10 2Q10 3Q10 4Q10 4Q09 1Q10 2Q10 3Q10 4Q10
G&A Expenses Selling Expenses G&A Expenses Selling Expenses
2009 191 305 2009 192 305
2010 198 374 2010 198 375
12

13. Income from Operations
IFRS - US$ Million Gu
i
US GAAP - US$ Million
Ach dance
iev
ed
7.2% 9.0% 6.4% 6.7%
9.3% 7.5%
6.0%
4.1% 5.8%
2.4%
132
122 147
126
71 66
66 57 63
39
4Q09 1Q10 2Q10 3Q10 4Q10 4Q09 1Q10 2Q10 3Q10 4Q10
EBIT EBIT Margin EBIT EBIT Margin
2009 379 6.9% 2009 336 6.1%
2010 392 7.3% 2010 393 7.3%
13

14. EBITDA
IFRS - US$ Million US GAAP - US$ Million
Ach
ieve
d
10.2% 8.1%
12.2% 12.5% 10.0% 7.7%
11.8%
8.1%
5.6%
6.4%
197
166 159
131 139
105 117
89 80 80
4Q09 1Q10 2Q10 3Q10 4Q10 4Q09 1Q10 2Q10 3Q10 4Q10
EBITDA EBITDA Margin EBITDA EBITDA Margin
2009 609 10.0% 2009 422 7.7%
2010 611 11.4% 2010 458 8.6%
14

15. Net Income
IFRS - US$ Million US GAAP - US$ Million
9.1%
9.4%
12.1%
5.2% 7.3%
5.8% 4.2% 6.2%
3.6%
2.4%
146 143
126 123
95 99
70
57
24 35
4Q09 1Q10 2Q10 3Q10 4Q10 4Q09 1Q10 2Q10 3Q10 4Q10
Net Income Net Margin Net Income Net Margin
2009 465 8.5% 2009 249 4.5%
2010 330 6.2% 2010 347 6.5%
15

16. EPADS and Dividend Yield
4.34%
2.91% 3.28%
2.23%
1.97%
2.64 2.57
2.11 2.14
1.83
2006 2007 2008 2009* 2010*
EPADS Dividend Yield
2006-2008: US GAAP
* 2009-2010: IFRS 16

17. Free Cash Flow
IFRS and US GAAP - US$ Million
383
220
193
(60) (66)
4Q09 1Q10 2Q10 3Q10 4Q10
2009 31
2010 287
17

18. Indebtedness Profile Net Cash
Total Debt 4Q10: US$ 1.43 Billion Total Cash 4Q10: US$ 2.13 Billion
Indebtedness Maturity Net Cash
6% 5%
26% 22%
29%
6.1 6.3
5.8
4.9 5.0
94% 95% 692
652 618
78%
74% 488 444
71%
4Q09 1Q10 2Q10 3Q10 4Q10 4Q09 1Q10 2Q10 3Q10 4Q10
Long-term Short-term
Loans Average Maturity (Years)
18

19. 2011 Outlook

20. 2011 Outlook - IFRS
2010 Results 2011 Outlook
Net Revenues US$ 5.36 billion ~5% US$ 5.60 billion
US$ Billion
1.2 0.6
20%
11% 0.05 0.15
0.7 0.10
14% 0.40
3.1
55%
Commercial aviation Defense and security
Executive aviation Aviation services and others
20

21. 2011 Outlook - IFRS
2010 Results 2011 Outlook
EBIT US$ 392 million ~7% US$ 420 million
EBIT Margin 7.3% ~3% 7.5%
EBITDA US$ 611 million US$ 610 million
EBITDA Margin 11% 11%
21

22. 2011 Outlook - IFRS
2010 Results 2011 Outlook
Research US$ 72 million US$ 90 million
Development * US$ 79 million US$ 210 million
CAPEX US$ 74 million US$ 200 million
9%
US$ Million 9%
7%
5%
5% 4% 200
209
235 CAPEX
104 R&D
74
91 300
260 Investment / Revenue
197
113 144 151
2006 2007 2008 2009 2010** 2011E**
* Product development costs are differed and amortized upon aircraft delivery.
** 2010 result and 2011 estimate in IFRS.
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