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1 JANUARY 2016 MARCH 2016

2 CORPORATE AND BUSINESS STRATEGY ORGANIC GROWTH MARGINS ENHANCEMENT THROUGH THE P3E BUSINESS AND REVENUES DIVERSIFICATION 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 AND ACQUISITIONS ESTABLISH EMBRAER AS THE DEFENSE HOUSE OF BRAZIL 2

3 FIRM ORDER BACKLOG US$ BILLION EXECUTIVE JETS COMMERCIAL AVIATION DEFENSE & SECURITY

4 AIRCRAFT DELIVERIES LIGHT JETS - PHENOM LARGE JETS - LEGACY & LINEAGE 2015 OUTLOOK: E-JETS EXECUTIVE LARGE JETS EXECUTIVE LIGHT JETS 4

5 NET REVENUES US$ MILLION 5,791 6,167 6,235 6,289 5, OUTLOOK: US$ BILLION 5

6 NET REVENUES BREAKDOWN Net Revenues US$ Billion 27% SEGMENT % 1% 1% 19% 23% 26% 13% 30% 5% 6% 2% 4% 9% 4% 4% 4% 2% 6% 3% 12% 8% 21% 11% 21% REGION Net Revenues US$ Billion % 53% 50% 56% 22% 48% 65% 29% NORTH AMERICA BRAZIL CHINA ASIA PACIFIC OTHERS EUROPE SOUTH & CENTRAL AMERICA AFRICA & MIDDLE EAST 6

7 CORPORATE GOVERNANCE STRUCTURE S H A R E H O L D E R S BOARD OF DIRECTORS FISCAL BOARD BOARD OF EXECUTIVE OFFICERS ETHICS COMMITTEE FINANCIAL MANAGEMENT COMMITTEE SUSTAINABILITY COMMITTEE ENVIRONMENTAL RISK COMMITTEE STRATEGY COMMITTEE HUMAN RESOURCES COMMITTEE AUDIT AND RISKS COMMITTEE INTERNAL AUDIT COMPLIANCE 7

8 EMBRAER CREDIT RATINGS BBB INVESTMENT GRADE SINCE JAN Ba1 8

9 INDEXES & INITIATIVES 9

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11 OVER 90 AIRLINES IN MORE THAN 60 COUNTRIES 11

12 PRODUCT PORTFOLIO 37 seats 1,750nm (3,250Km) seats 2,100nm (3,900Km) 44 seats 1,650nm (3,050Km) seats 2,000nm (3,700Km) seats 1,920nm (3,560Km) 50 seats 1,550nm (2,900Km) seats 2,400nm (4,500Km) seats 2,800nm (5,200Km) 50 seats 2,000nm (3,700Km) seats 2,200nm (4,100Km) seats 2,450nm (4,540Km) 12

13 E-JETS GLOBAL MARKET SUCCESS 1,704 ORDERS 1,191 DELIVERIES 513 AIRCRAFT IN BACKLOG Source: Embraer (Dec./2015) 13

14 E-JETS ORDER BOOK 4Q15 TOTAL 14 FIRM ORDERS DELIVERIES FIRM BACKLOG ,704 1,

15 E-JETS SHARE AND REGION BREAKDOWN DELIVERIES SHARE SEATS JETS DELIVERIES BY REGION ASIA PACIFIC CHINA LATIN AMERICA MIDDLE EAST AFRICA NORTH AMERICA EUROPE CIS NORTH AMERICA SHARE 76 SEAT JETS - ORDERS SINCE 2013 BACKLOG BY REGION ASIA PACIFIC CHINA OTHERS LATIN AMERICA EUROPE CIS NORTH AMERICA 15

16 COMPETITIVE SCENARIO CAPACITY (SINGLE CLASS) A320neo 737-8MAX 140 CS300 A319neo MAX 120 E195-E2 CS100 E CRJ1000 SSJ95/100 E190 E190-E2 80 CRJ900 CRJ700 MRJ90 ARJ21 E175 E170 E175-E2 16

17 EMBRAER MARKET FORECAST ( ) REPLACEMENT OF OLD/INEFFICIENT JETS (APROX. 3,250 UNITS) RIGHT-SIZING OF NARROW-BODY OPERATIONS (APROX. 750 UNITS) REGIONAL AVIATION, NEW US OPPORTUNITIES AND LCCs (APROX. 1,100 UNITS) NORTH AMERICA 2,060 JETS (32%) EUROPE 1,160 JETS (18%) CIS 380 JETS (6%) MIDDLE EAST AFRICA 240 JETS (4%) 220 JETS (4%) CHINA 1,020 JETS (16%) ASIA PACIFIC 550 JETS (9%) LATIN AMERICA 720 JETS (11%) WORLDWIDE 6,350 JETS ( SEATS) US$ 300 BILLION 17

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19 E-JETS EVOLUTION SEATS % seats 2,450nm 110 SAME SEATS 20% seats 2,800nm seats 1,920nm 70 19

20 FUEL BURN IMPROVEMENTS FUEL BURN PER SEAT E175-E2 (80 SEATS) vs E175 (76 SEATS) E190-E2 (97 SEATS) vs E190 (97 SEATS) E195-E2 (120 SEATS) vs E195 (106 SEATS) 0% -5% -10% -15% -16% -16% -20% -25% -24% Target values for 600 nm sector; Dual Class configuration 20

21 MAINTENANCE COST IMPROVEMENTS DMC PER SEAT E175-E2 (80 SEATS) vs E175 (76 SEATS) E190-E2 (97 SEATS) vs E190 (97 SEATS) E195-E2 (120 SEATS) vs E195 (106 SEATS) 0% -5% -10% -15% -20% -15% -20% -25% -25% E175 CF34-8E5 baseline per 2011 conditions *2,600FH/Yr & 1.5FH/FC; 10 years DMC E190 CF34-10E6 baseline per 2011 conditions *2,600FH/Yr & 1.5FH/FC; 10 years DMC 21

22 E2 NEW FEATURES NEW WING More efficient, high aspect ratio metallic wing. Raked wing tip. IMPROVED AVIONICS 4 larger 13 x10 displays and touchscreen controls MAIN LANDING GEAR Enabling larger engines. Gear doors for improved fuel efficiency NEW ENGINES Larger fan diameter and improved fuel efficiency OPTIMIZED WING/ENGINE DIFFERENT WING AND ENGINE COMBINATIONS FOR E175-E2 AND E190/195-E2 22

23 E2 ENTRY INTO SERVICE E190-E2 EIS 1H2018 E195-E2 EIS 2019 E175-E2 EIS

24 COMMITMENTS E-JETS E2 AERCAP x E190-E2 E195-E2 AIRCASTLE x E190-E2 E195-E2 AIR COSTA x E190-E2 E195-E2 AZUL x E195-E2 HAINAN/TIANJIN AIRLINES 2+18 x E190-E2 ICBC LEASING x E190-E2 SKYWEST, INC x E175-E2 TRANS STATES HOLDINGS x E175-E2 640 COMMITMENTS (267 FIRM) 24

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26 NEARLY 1,000 JETS DELIVERED IN MORE THAN 60 COUNTRIES 26

27 PRODUCT PORTFOLIO ENTRY LIGHT MIDLIGHT MIDSIZE Certified 2008 Certified 2009 Certified 2015 Certified 2014 Up to 8 occupants 1,178 nm Up to 11 occupants 1,971 nm 7 to 9 passengers 2,900 nm 8 to 12 passengers 3,125 nm Cessna - Mustang/M2 Bombardier - Learjet 75 HondaJet Cessna - XLS+/Latitude Cessna - CJ3+/CJ4 Bombardier - Learjet 75 Pilatus - PC-24 Cessna - Sovereign+ Bombardier - CL350 Gulfstream - G150 Gulfstream - G280 SUPER-MIDSIZE LARGE ULTRA-LARGE Certified 2001 Certified 2010 Certified to 14 passengers 3,400 nm 13 to 14 passengers 3,900 nm 13 to 19 passengers 4,600 nm Cessna - X+/Longitude Cessna - Hemisphere Airbus - ACJ 318/319/320 Dassault - Falcon 2000S Bombardier - CL650/GL5000 Boeing - BBJ/BBJ2/BBJ3 Dassault - Falcon 2000LXS/900LX/5X Gulfstream - G450/G500 27

28 MARKET SHARE REVENUES SHARE (US$ BI B&CA LIST PRICES) DELIVERIES SHARE (UNITS) MARKET REVENUES 2015: US$ 22 BILLION EMBRAER REVENUES: US$ 1.7 BILLION MARKET DELIVERIES 2015: 706 UNITS EMBRAER DELIVERIES: 120 UNITS OTHERS 28

29 EXECUTIVE JETS DELIVERIES EVOLUTION EMBRAER EXECUTIVE JETS DELIVERIES ACCUMULATED FLEET 29

30 UNITS % OF ACTIVE FLEET BUSINESS JETS PRE-OWNED MARKET INVENTORY % 2,280 jets 8.1% 703 jets 28% 24% % % % % 500 4% 0 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q % Source: Jetnet and Embraer analysis, December

31 FRACTIONAL SEGMENT MARKET SHARE Market share % OTHERS Source: Jetnet database, February

32 IMPROVED SALES PERFORMANCE NET BOOK-TO-BILL (US$) 49% 13% 13% 25% 0,6 1,1 68% 8% 18% 5% DELIVERIES: 116 JETS DELIVERIES: 120 JETS NORTH AMERICA ASIA-PACIFIC CHINA EUROPE AFRICA LATIN AMERICA 32

33 Deliveries (# of jets) MARKET FORECAST PER JET CLASS DELIVERIES FORECAST (N10Y) Note: Sum of jet class numbers might differ from total numbers due to rounding. ULTRA LARGE U-LONG RANGE LARGE SUPERMID MIDSIZE MIDLIGHT LIGHT ENTRY Units US$ , ,700 1, , , , ,100 JETS AND US$ 259 BILLION IN THE NEXT 10 YEARS 33

34 MARKET FORECAST BY REGION NORTH AMERICA 4,850 JETS (54%) US$ 130 BI (50%) EUROPE & AFRICA 2,100 JETS (23%) US$ 64 BI (25%) LATIN AMERICA 650 JETS (7%) US$ 11 BI (4%) ASIA PACIFIC, CHINA & MIDDLE EAST 1,500 JETS (16%) US$ 54 BI (21%) ASIA PACIFIC, CHINA, MIDDLE EAST 550 Note: sum of regional numbers might differ from total numbers due to rounding Source: Embraer Analysis WORLDWIDE 9,100 JETS US$ 259 BILLION 34

35 EXPANDING OPERATIONS IN FLORIDA CURRENT FACILITIES 1 PHENOM FINAL ASSEMBLY 2 PHENOM PAINTING 3 ENGINEERING CENTER 4 CUSTOMER CENTER EXPANSION 2015 TO LEGACY 450/500 FINAL ASSEMBLY 35 6 LEGACY 450/500 PAINTING 7 LEGACY 450/500 DELIVERY CENTER

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37 PRODUCTS AND SOLUTIONS IN MORE THAN 60 COUNTRIES 37

38 INTEGRATED PORTFOLIO ISR SOLUTIONS LIGHT ATTACK AND ADVANCED TRAINING MODERNIZATION PROGRAMS TACTICAL MILITARY TRANSPORT TRANSPORT AIRCRAFT PARTNERSHIPS C4I C2 & C4I SYSTEMS AIRBORNE SYSTEMS SIMULATION CONTROL SYSTEMS AIR TRAFFIC SYSTEM RADAR REMOTE SENSING AERIAL SURVEILLANCE RADAR SATELLITE SATELLITE GEOSTATIONARY OF DEFENSE AND COMMUNICATIONS (SGDC) LAND SYSTEMS LAND DEFENSE SYSTEMS INTEGRATION SISFRON IMPLEMENTATION SERVICES MRO AEROSTRUCTURES 100% 100% 51% 100% 65% 38

39 EMBRAER DEFENSE & SECURITY RESULTS REVENUES EVOLUTION (US$ MILLION) BACKLOG EVOLUTION (US$ BILLION) 23% 13% 15% 17% 19% 14% 6% 227 7% 8% 9% ,056 1,197 1, REVENUES PARTICIPATION (%) 39

40 EMBRAER KC-390 BRAZIL: 28 COLOMBIA: 12 ARGENTINA: 6 CHILE: 6 PORTUGAL: 6 CZECH REP.: 2 TOTAL MARKET FORECAST 2025: 700 AIRCRAFT / US$ 50+ BI NEW TACTICAL MILITARY TRANSPORT AND TANKER AIRCRAFT PARTNERSHIP WITH BOEING TO SHARE TECHNICAL KNOWLEDGE AND SELL THE KC-390 BRAZILIAN GOVERNMENT AND EMBRAER SIGNED CONTRACT FOR 28 KC-390 OTHER FIVE LOIs (32 AIRCRAFT) CERTIFICATION EXPECTED BY 2H2017 FIRST DELIVERY TO BRAZILIAN AIR FORCE IN 1H2018 SECOND PROTOTYPE ASSEMBLED AND JOINING THE FLIGHT TEST CAMPAIGN NEARLY 90% OF PROGRAM DEVELOPMENT COMPLETED 40

41 SUPER TUCANO BRAZIL: 99 COLOMBIA: 25 DOMINICAN REPUBLIC: 8 CHILE: 12 ECUADOR: 18 INDONESIA: 16 MAURITANIA: 2 BURKINA FASO: 3 ANGOLA: 6 USA: 21 MALI: 6 GHANA: 5 LEBANON: 6 UNDISCLOSED: 2 FIRM ORDERS: NEARLY 230 AIRCRAFT OVER 190 AIRCRAFT DELIVERED TOTAL MARKET FORECAST: 300 AIRCRAFT / US$ 3.5 BILLION 41

42 BRAZILIAN ARMY PRIORITIES SISFRON INTEGRATED BORDERS MONITORING SYSTEM FIRST PHASE: US$ 420 MILLION TOTAL ESTIMATE: US$ 4 BILLION COMPRISING RADARS, COMMUNICATION NETWORKS, C4I, UNMANNED AIR VEHICLES (UAV) AND ARMORED VEHICLES SATELLITE BRAZILIAN GEOSTATIONARY DEFENSE AND COMMUNICATION SATELLITE PROGRAM (SGDC) TOTAL ESTIMATE: US$ 400 MILLION PARTICIPATION IN THE FIRST BRAZILIAN GEOSTATIONARY SATELLITE 42

43 NEW BRAZILIAN FIGHTER (F-39 GRIPEN) BRAZILIAN GOVERNMENT CONTRACTED SAAB TO SUPPLY 36 GRIPEN NG FIGHTER JET CONTRACT BETWEEN EMBRAER AND SAAB FINALIZED (EFFECTIVE AND RUNNING) FIRST GROUP OF 46 BRAZILIAN ENGINEERS IN SWEDEN SINCE OCTOBER 2015 GRIPEN DESIGN AND DEVELOPMENT CENTER UNDER CONSTRUCTION IN GPX SITE 43

44 CONCENTRATING DEFENSE ACTIVITIES GAVIÃO PEIXOTO (GPX) SITE EXPANSION 5 GRIPEN CURRENT FACILITIES 1 STRUCTURAL ASSEMBLY WINGS ST & KC-390 FUSELAGE KC-390 NEW GRIPEN DESIGN AND DEVELOPMENT CENTER 2 MODERNIZATION A4, AMX & F-5 3 FINAL ASSEMBLY ST 4 FINAL ASSEMBLY KC

45 FINANCIAL RESULTS

46 NET REVENUES SG&A EXPENSES US$ MILLION NET REVENUES SG&A EXPENSES 2015: 5, : 544 2,046 2, ,056 1,513 1, Q14 1Q15 2Q15 3Q15 4Q15 4Q14 1Q15 2Q15 3Q15 4Q15 G&A EXPENSES SELLING EXPENSES 2015 OUTLOOK: US$ BILLION 46

47 NET REVENUES BY SEGMENT OUTLOOK: US$ BILLION OUTLOOK: US$ BILLION 2015: 5.93 BILLION 2015: 3.35 BILLION 2,045 1,056 1,513 1,285 2, ,115 4Q14 1Q15 2Q15 3Q15 4Q15 4Q14 1Q15 2Q15 3Q15 4Q15 OUTLOOK: US$ BILLION OUTLOOK: US$ BILLION 2015: 1.72 BILLION 2015: 0.81 BILLION Q14 1Q15 2Q15 3Q15 4Q15 4Q14 1Q15 2Q15 3Q15 4Q15 47

48 INCOME FROM OPERATIONS (EBIT) EBITDA US$ MILLION EBIT EBITDA 2015: % 2015: % 9.6% 7.5% 6.8% 6.6% 8.0% 3.1% 13.8% 14.1% 11.7% 12.3% 12.8% % Q14 1Q15 2Q15 3Q15 4Q15 4Q14 1Q15 2Q15 3Q15 4Q15 EBIT EBIT MARGIN EBITDA EBITDA MARGIN EXCLUDING REPUBLIC EFFECT EXCLUDING REPUBLIC EFFECT 2015 OUTLOOK: US$ MILLION 8.5% 9.0% 2015 OUTLOOK: US$ MILLION 12.6% 13.6% 48

49 NET INCOME FREE CASH FLOW US$ MILLION NET INCOME FREE CASH FLOW 4.5% 8.5% 2015: % 2015: % 5.4% % % (62) (110) 4Q14 1Q15 2Q15 3Q15 4Q15 NET INCOME NET MARGIN EXCLUDING REPUBLIC EFFECT (115) (440) (367) (440) (482) 4Q14 1Q15 2Q15 3Q15 4Q15 FREE CASH FLOW ACCUMULATED OUTLOOK: FCF > (US$ 100) MILLION 49

50 INVENTORIES INVESTMENTS US$ MILLION INVENTORIES INVESTMENTS 2015: 518 2,405 2,696 2,640 2,763 2, Q14 1Q15 2Q15 3Q15 4Q15 RESEARCH DEVELOPMENT CAPEX 2015 YTD 2015 OUTLOOK 2015 OUTLOOK: US$ 650 MILLION 50

51 INDEBTEDNESS PROFILE NET CASH INDEBTEDNESS MATURITY NET CASH (DEBT) - US$ MILLION 4% 11% 10% 9% 6% % % 90% 91% 94% (39) (535) (465) (644) 4Q14 1Q15 2Q15 3Q15 4Q15 4Q14 1Q15 2Q15 3Q15 4Q15 LONG-TERM SHORT-TERM LOANS AVERAGE MATURITY (YEARS) TOTAL DEBT 4Q15: US$ BILLION TOTAL CASH 4Q15: US$ BILLION 51

52 INDEBTEDNESS PRINCIPAL MATURITIES US$ MILLION CASH LOCAL CASH ABROAD 3,538 2,524 1,014 CASH 4Q USD DEBT 2,701 77% PRINCIPAL MATURITIES: US$ BILLION BRL DEBT % EUR DEBT 22 1% 43 1,

53 EPADS AND PAY OUT US$ 116% 26% 26% 27% 49% EPADS PAY OUT ADJUSTED EPADS 53

54 OWNERSHIP STRUCTURE 4Q15 736,951,302 VOTING SHARES 17% LOCAL SHAREHOLDERS BM&F BOVESPA 42% NYSE 58% INTERNATIONAL SHAREHOLDERS 83% 54

55 2016 OUTLOOK

56 2016 CONSOLIDATED OUTLOOK NET REVENUES US$ BILLION DELIVERIES 105 TO 110 E-JETS 57% OF NET REVENUES US$ BILLION DELIVERIES 75 TO 85 LIGHT JETS 40 TO 50 LARGE JETS 30% OF NET REVENUES US$ BILLION 12% OF NET REVENUES US$ BILLION OTHER REVENUES 1% OF NET REVENUES US$ 100 MILLION 56

57 2016 CONSOLIDATED OUTLOOK EBIT US$ MILLION EBIT MARGIN 8.0% 8.5% EBITDA US$ MILLION EBITDA MARGIN 13.3% 13.7% FCF > (US$ 100) MILLION FCF USE OF LESS THAN US$ 100 MILLION RESEARCH US$ 50 MILLION DEVELOPMENT US$ 325 MILLION CAPEX INVESTMENTS US$ 275 MILLION US$ 650 MILLION 57

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59 FORWARD LOOKING STATEMENT This presentation may contain forward-looking statements, projections and estimates regarding circumstances or events yet to take place, including, but not limited to, those statements relating to guidance. These forwardlooking statements are based largely on current expectations, forecasts of future events and industry and financial trends that affect Embraer s businesses. These statements are subject to risks, uncertainties and assumptions that include, among others: general economic, political and trade conditions, both in Brazil and in those markets where Embraer does business; management s expectations and estimates concerning the company s future financial performance; plans and objectives of our management; financing plans and programs, and the effects of competition; industry trends and growth opportunities; inflation and fluctuations in exchange rates; the company s investment plans; Embraer s operating efficiencies and synergies and its capacity to develop and deliver products on the dates previously agreed upon; results of operation; business strategies; benefits of new technologies and existing and future governmental regulations. To obtain further information on factors that may lead to results different from those forecast by Embraer, please consult the reports Embraer files with the U.S. Securities and Exchange Commission (SEC) and the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the factors discussed under Forward-Looking Statements and Risk Factors in Embraer s annual report on Form 20 F. The words believe, may, will, estimate, intend, continue, anticipate, expect and other similar terms are intended to identify forward-looking statements. Embraer does not undertake any obligation to publish updates or to revise any forward-looking statements due to new information, future events or any other factors. In view of the inherent risks and uncertainties, such estimates, events and circumstances may not occur. The actual results and performance of Embraer could therefore differ substantially from those anticipated in Embraer's forward-looking statements. 59