APR 18 RI.EMBRAER.COM.BR EMBRAER RI

APR 18 RI.EMBRAER.COM.BR INVESTOR.RELATIONS@EMBRAER.COM.BR EMBRAER RI +55 12 3927 1000

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.

EMBRAER BUSINESS AREAS COMMERCIAL AVIATION EXECUTIVE JETS DEFENSE & SECURITY SERVICES & SUPPORT 3

EMBRAER CONTINUOUS EVOLUTION ACHIEVING MATURITY AND EFFICIENCY THROUGH THE DEVELOPMENT OF A RICH PORTFOLIO OF PRODUCTS AND SERVICES 4

FIRM ORDER BACKLOG US$ BILLION 12.4 18.2 20.9 22.5 19.6 18.3 COMMERCIAL AVIATION 73% 4% DEFENSE & SECURITY 23% EXECUTIVE JETS 2012 2013 2014 2015 2016 2017 5

AIRCRAFT DELIVERIES COMMERCIAL AVIATION EXECUTIVE JETS 119 116 120 117 109 90 92 101 108 101 90 92 82 73 72 29 24 38 44 37 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2017 OUTLOOK: 97-102 2017 OUTLOOK: 70-80 35-45 105-125 6

NET REVENUES US$ MILLION 6,235 6,289 5,928 6,218 5,839 2013 2014 2015 2016 2017 2017 OUTLOOK: US$ 5.7 6.1 BILLION 7

NET REVENUES BREAKDOWN SEGMENT REGION 5.93 6.22 5.84 5.93 6.22 5.84 DEFENSE & SECURITY EXECUTIVE JETS 1% 14% 15% 16% 29% 28% 26% 2% 3% 4% 2% 4% 1% 8% 12% 13% 12% 11% 13% 11% 8% 12% AFRICA/MIDDLE EAST SOUTH/CENTRAL AMERICA ASIA PACIFIC/CHINA BRAZIL EUROPE COMMERCIAL AVIATION 56% 57% 58% 65% 63% 57% NORTH AMERICA 2015 2016 2017 2015 2016 2017 8

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 SECURITIES TRADING COMMITEE STRATEGY COMMITTEE PEOPLE AND GOVERNANCE COMMITTEE AUDIT AND RISKS COMMITTEE INTERNAL AUDIT COMPLIANCE 9

OWNERSHIP STRUCTURE 733,116,262 VOTING SHARES LOCAL SHAREHOLDERS INTERNATIONAL SHAREHOLDERS 10

EMBRAER CREDIT RATINGS BBB INVESTMENT GRADE SINCE JAN. 2006 BBB- INVESTMENT GRADE SINCE APR. 2016 BA1 11

12 COMMERCIAL AVIATION

COMMERCIAL AVIATION OVER 100 AIRLINES IN MORE THAN 60 COUNTRIES 13

PRODUCT PORTFOLIO 37 SEATS 1,750NM (3,250KM) 70-80 SEATS 2,100NM (3,900KM) 44 SEATS 1,650NM (3,050KM) 78-88 SEATS 2,000NM (3,700KM) 80-90 SEATS 2,060NM (3,820KM) 50 SEATS 1,550NM (2,900KM) 98-114 SEATS 2,400NM (4,500KM) 97-114 SEATS 2,880NM (5,333KM) 50 SEATS 2,000NM (3,700KM) 108-122 SEATS 2,200NM (4,100KM) 120-146 SEATS 2,600NM (4,815KM) 14

E-JETS GLOBAL MARKET SUCCESS 1,835 ORDERS 1,400 DELIVERIES 435 AIRCRAFT IN BACKLOG 1999 2002 2005 2008 2011 2014 2017 SOURCE: EMBRAER (DEC 2017) 15

E-JETS ORDER BOOK 4Q17 FIRM ORDERS DELIVERIES FIRM BACKLOG 191 190 1 603 500 103 592 546 46 169 164 5 100-100 74-74 106-106 TOTAL 1,835 1,400 435 16

E-JETS SHARE AND REGION BREAKDOWN DELIVERIES SHARE UP TO 150 SEAT AIRCRAFT 13% 12% 5% OTHERS DELIVERIES BY REGION ASIA PACIFIC CHINA MIDDLE EAST AFRICA 12% 5% 16% 29% LATIN AMERICA 15% 45% NORTH AMERICA 25% EUROPE CIS 23% NORTH AMERICA SHARE 76 SEAT JETS - ORDERS SINCE 2013 BACKLOG BY REGION ASIA PACIFIC CHINA 23% CRJ 900 14% 86% LATIN AMERICA 7% 50% NORTH AMERICA EUROPE CIS 20% AS OF 4Q17 17

COMPETITIVE SCENARIO SINGLE CLASS CAPACITY 180+ A320NEO 737-8MAX 160 150 A319NEO 737-7 MAX 140 CS300 120 CS100 E195 E195-E2 100 CRJ1000 SSJ95/100 E190 E190-E2 80 CRJ900 CRJ700 ARJ21 MRJ90 MRJ70 E175 E170 E175-E2 18

EMBRAER MARKET FORECAST (2017-2036) COMMERCIAL AVIATION NORTH AMERICA 2,770 A/C (26%) EUROPE & CIS 2,840 A/C (26%) WORLDWIDE 10,550 A/C (UP TO 150 SEATS) LATIN AMERICA 1,120 A/C (11%) AFRICA & MIDDLE EAST 810 A/C (8%) ASIA PACIFIC 3,010 A/C (29%) 19

MARKET OPPORTUNITIES DIRECT REPLACEMENT 50/70-SEAT JET REPLACEMENT TP REPLACEMENT RIGHT-SIZING SMALL NB IN US MAINLINES LCCS IN ASIA AND EUROPE REGIONAL AVIATION DEVELOPMENT (INDIA, BRAZIL, TURKEY, IRAN) CHINA: NEW CAAC POLICY ON AIRLINE LICENSE 20

21

E-JETS EVOLUTION 130 +14 SEATS 120 20% 120-146 SEATS 2,600NM 110 SAME 100 90 +4 SEATS 20% 97-114 SEATS 2,880NM 80 80-90 SEATS 2,060NM 70 22

A NEW DESIGN ON A PROVEN PLATFORM 17.3% LOWER CONSUMPTION OVER CURRENT E190 NEW WING NEW INTERIOR AERODYNAMIC FUSELAGE IMPROVED AVIONICS NEW AIRCRAFT SYSTEMS NEW ENGINE - PW GTF NEW LANDING GEAR 4 TH GEN FULL FLY-BY-WIRE 23

PER SEAT SMARTER FOR BUSINESS CASH OPERATING COST -10% CS100 PER TRIP -10% -10% CS300 24

COST PER SEAT IMPROVEMENTS FUEL BURN DMC 0% E175-E2 (80 SEATS) VS E175 (76 SEATS) E190-E2 (97 SEATS) VS E190 (97 SEATS) E195-E2 (120 SEATS) VS E195 (106 SEATS) -5% -10% -15% -20% -16% -17% -15% -20% -25% -25% -24% 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 TARGET VALUES FOR 600 NM SECTOR; DUAL CLASS CONFIGURATION 25

UP TO 50% HIGHER PROFIT PER SEAT THAN 170-SEAT AIRCRAFT 100 SEATER 170 SEATER - = REVENUE PER SEAT COST PER SEAT PROFIT PER SEAT +30% +20% +50% TO LEARN MORE PLEASE VISIT WWW.NEWMETRICSOFSUCCESS.COM 26

MASTER PHASE PLAN ON TIME, ON BUDGET, BETTER THAN SPEC ACCOMPLISHED 2012 2013 2014 2015 2016 2017 2018 PLANNED 2019 2021 ADVANCED DESIGN 1 ST FLIGHT DETAIL DESIGN, MANUFACTURING AND CERTIFICATION EIS APRIL 2018 ADVANCED DESIGN 1 ST FLIGHT DETAIL DESIGN, MANUFACTURING AND CERTIFICATION 1 ST FLIGHT ADVANCED DESIGN DETAIL DESIGN, MANUFACTURING AND CERTIFICATION 27

E190-E2 TRIPLE CERTIFICATION NOISE TARGET 15 EPNDB BELOW LIMIT ACHIEVED 20 EPNDB BELOW LIMIT FUEL BURN TARGET 16% FB REDUCTION ACHIEVED 17.3% FB REDUCTION MAINTENANCE TARGET 850 8,500 FH ACHIEVED 1,000-10,000 FH LANDING GEAR TARGET 20,000 FC / 10 YEARS ACHIEVED 22,000 FC / 12 YEARS TRAINING TARGET 3 DAYS ACHIEVED 2.5 DAYS WITH LOW LEVEL DEVICE 28

COMMITMENTS E-JETS E2 AERCAP 50+50 X E190-E2 E195-E2 AIRCASTLE 25 +25 X E190-E2 E195-E2 AIR COSTA 50+50 X E190-E2 E195-E2 AZUL 30+20 X E195-E2 HAINAN/TIANJIN AIRLINES 2+18 X E190-E2 ICBC LEASING 10+10 X E190-E2 SKYWEST, INC. 100+100 X E175-E2 TRANS STATES HOLDINGS 50+50 X E175-E2 ARKIA ISRAELI AIRLINES 6+4 X E195-E2 WIDERØE 3+12 X E190-E2 UNDISCLOSED 10+40 X E195-E2 E190-E2 715 COMMITMENTS (280 FIRM) 29

30 EXECUTIVE JETS

EXECUTIVE JETS 1,200+ JETS DELIVERED IN MORE THAN 70 COUNTRIES 31

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 - G280 32 LARGE ULTRA-LARGE CERTIFIED 2017 CERTIFIED 2008 13 TO 14 PASSENGERS 3,900 NM 13 TO 19 PASSENGERS 4,600 NM CESSNA - HEMISPHERE AIRBUS - ACJ 318/319/320 BOMBARDIER - CL650 BOEING - BBJ/BBJ2/BBJ3 DASSAULT - FALCON 2000LXS/900LX GULFSTREAM - G450

MARKET SHARE REVENUES SHARE US$ BI B&CA LIST PRICES DELIVERIES SHARE UNITS 21.2 21.8 21.9 18.6 17.9 677 705 705 647 641 5% 2% 1% 1% 2% 1% 1% 3% 4% 7% 21% 21% 22% 18% 35% 34% 19% 35% 37% 37% 11% 9% 8% 8% 8% 16% 6% 13% 10% 12% 8% 8% 11% 14% 11% 21% 23% 24% 28% 28% 30% 35% 34% 33% 30% 27% 29% 28% 25% 22% 8% 7% 8% 9% 8% 2013 2014 2015 2016 2017 MARKET REVENUES 2017: US$ 17.9 BILLION EMBRAER REVENUES: US$ 1.5 BILLION 18% 17% 17% 18% 17% 2013 2014 2015 2016 2017 MARKET DELIVERIES 2017: 641 UNITS EMBRAER DELIVERIES: 109 UNITS OTHERS 33

EXECUTIVE JETS DELIVERIES EVOLUTION 1,191 115 144 99 99 119 116 120 117 109 2 5 8 13 13 14 27 35 36 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 EMBRAER EXECUTIVE JETS DELIVERIES ACCUMULATED FLEET 34

UNITS % OF ACTIVE FLEET BUSINESS JETS PRE-OWNED MARKET INVENTORY 3,500 3,000 Fleet older than 10 yrs Fleet from 6 to 10 yrs Fleet up to 5 yrs Positions Fleet up tp 5 yrs and positions 9.7% 2,104 JETS 5.9% 439 JETS 28% 24% 2,500 20% 2,000 16% 1,500 12% 1,000 8% 500 4% 0 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 0% SOURCE: JETNET 35

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 DELIVERIES EVOLUTION N10Y - BASELINE SCENARIO GLOBAL DELIVERIES 1200 1000 FORECAST 7,500 UNITS U$215BI 100 7 1500 800 U-LARGE 1290 97 U-LONG RANGE 600 LARGE 1270 400 SUPERMID 810 46 200 0 MIDSIZE LIGHT ENTRY 1765 765 N10Y 31 13 17 4 N10Y 36 SMALL CABIN STABILITY AND MIDSIZE AND LARGE CABIN RECOVERY

EMBRAER MARKET FORECAST (2017-2026) EXECUTIVE JETS NORTH AMERICA 4,450 A/C (60%) US$ 116 BI (54%) EUROPE & AFRICA 1,480 A/C (20%) US$ 49 BI (23%) CHINA 500 A/C (7%) US$ 20 BI (9%) WORLDWIDE 7,500 A/C US$ 215 BI LATIN AMERICA 470 A/C (6%) US$ 11 BI (5%) ASIA PACIFIC & MIDDLE EAST 600 A/C (8%) US$ 20 BI (10%) 37

38 DEFENSE & SECURITY

DEFENSE & SECURITY PRODUCTS AND SOLUTIONS IN MORE THAN 60 COUNTRIES 39

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% 40

EMBRAER DEFENSE & SECURITY RESULTS REVENUES EVOLUTION (US$ MILLION) BACKLOG EVOLUTION (US$ BILLION) 23% 13% 15% 17% 19% 16% 15% 14% 6% 227 7% 8% 9% 346 505 499 670 852 1,456 1,056 1,197 811 933 951 1.1 1.0 1.5 3.2 3.3 3.3 3.4 3.6 5.5 4.7 4.5 4.2 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 REVENUES PARTICIPATION (%) 41

REVENUE BREAKDOWN BY PRODUCT 2016 2017 MODERNIZATION SERVICES, PARTS, MRO LIGHT ATTACK COMBAT SPECIAL MISSION C4I, SATELLITE, LAND SYSTEMS* SPECIAL MISSION SERVICES, PARTS, MRO LIGHT ATTACK COMBAT 9% 2% 4% 13% 32% MODERNIZATION 40% C4I, SATELLITE, LAND SYSTEMS* KC-390 KC-390 * ATECH, BRADAR, SAVIS, VISIONA REF.: DEC, 2017 42

KC-390 BRAZIL: 28 COLOMBIA: 12 ARGENTINA: 6 CHILE: 6 PORTUGAL: 6 CZECH REP.: 2 SKYTECH: 6 ADDRESSABLE MARKET: ~700 AIRCRAFT 43 NEW TACTICAL MILITARY TRANSPORT AND TANKER AIRCRAFT BRAZILIAN GOVERNMENT SIGNED CONTRACT FOR 28 KC-390 OTHER SIX LOIS (38 AIRCRAFT) INITIAL OPERATIONAL CAPABILITY CERTIFICATION IN 2017 FIRST DELIVERY TO BRAZILIAN AIR FORCE IN 2H2018 MORE THAN 90% OF PROGRAM DEVELOPMENT COMPLETED TWO PROTOTYPES PERFORMING FLIGHT TEST CAMPAIGN (1,600+ FLIGHT HOURS) PARTNERSHIP WITH BOEING TO MARKET AND SUPPORT THE KC-390

KC-390 MARKET OVERVIEW 10 TO 30 TONS 34% 25 YEARS 18% 34 YEARS CURRENT FLEET ~ 2,700 AIRCRAFT 7%* 35 YEARS** 12% 37 YEARS 9% 36 YEARS 20% 32 YEARS 44 * FLEET DISTRIBUTION ** FLEET AVERAGE AGE WORLD S AIRLIFT AVERAGE AGE IS AT 31.5 MOST SHALL BE REPLACED OVER THE NEXT 20 YEARS

SUPER TUCANO BRAZIL: 99 COLOMBIA: 25 DOMINICAN REPUBLIC: 8 CHILE: 12 ECUADOR: 18 INDONESIA: 16 MAURITANIA: 2 BURKINA FASO: 3 ANGOLA: 6 USA: 27 MALI: 4 LEBANON: 6 PHILIPPINES: 6 UNDISCLOSED: 6 FIRM ORDERS: ~250 AIRCRAFT DELIVERIES: 200+ AIRCRAFT ADDRESSABLE MARKET: ~400 AIRCRAFT CURRENT LEADER WITH MORE THAN 50% MARKET-SHARE 45

BRAZILIAN ARMY PRIORITIES SISFRON SATELLITE INTEGRATED BORDERS MONITORING SYSTEM FIRST PHASE: US$ 420 MILLION TOTAL ESTIMATE: US$ 4 BILLION BRAZILIAN GEOSTATIONARY DEFENSE AND COMMUNICATION SATELLITE PROGRAM (SGDC) TOTAL ESTIMATE: US$ 400 MILLION COMPRISING RADARS, COMMUNICATION NETWORKS, C4I, UNMANNED AIR VEHICLES (UAV) AND ARMORED VEHICLES PARTICIPATION IN THE FIRST BRAZILIAN GEOSTATIONARY SATELLITE SUCCESSFUL LAUNCH IN MAY 2017 46

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) GRIPEN DESIGN AND DEVELOPMENT NETWORK INAUGURATED IN GPX SITE IN BRAZIL +120 ENGINEERS AND TECHNICIANS TRAINED IN SWEDEN +80 ENGINEERS WORKING FOR THE DEVELOPMENT IN THE GDDN FIRST DELIVERY 2020 47

48 SERVICES & SUPPORT

49 SERVICES & SUPPORT BUSINESS UNIT

SERVICES & SUPPORT AT A GLANCE COMMERCIAL AVIATION EXECUTIVE JETS DEFENSE & SECURITY AGRICULTURAL SUPPORTED FLEET 2,500+ 1,200+ 700+ 1,200+ CUSTOMER BASE 205 850 50 788 CUSTOMER SATISFACTION 83% 1ST PLACE AIN AND PRO PILOT 85% 93% PRESENCE 75 COUNTRIES 70 COUNTRIES 30 COUNTRIES 3 COUNTRIES 50

SERVICE CENTERS GLOBAL FOOTPRINT 24 WAREHOUSES 9 OWNED SERVICE CENTERS 71 AUTHORIZED SERVICE CENTERS 110 FIELD SUPPORT 51

BUSINESS DEVELOPMENT OPPORTUNITIES TO BE THE LEADER IN PROFITABILITY IN THE AERONAUTICAL INDUSTRY AND RECOGNIZED BY CUSTOMERS AS THE BEST SERVICES & SUPPORT PROVIDER COMPONENTS REPAIR MRO NEW BUSINESSES AIRCRAFT ENHANCEMENT TRAINING SOLUTIONS MERGERS & ACQUISITIONS INTEGRATED SERVICES PARTS DISTRIBUTION & LOGISTICS SERVICES & SUPPORT LABS STRATEGY PRIORIZATION DEVELOPMENT OPERATION 52

FINANCIAL RESULTS 53

NET REVENUES US$ MILLION 2017: 5,839 2,028 1,026 1,770 1,310 1,733 4Q16 1Q17 2Q17 3Q17 4Q17 2017 OUTLOOK: US$ 5.7 6.1 BILLION COMMERCIAL AVIATION 2017: 3,372 EXECUTIVE JETS 2017: 1,485 DEFENSE & SECURITY 2017: 951 1,032 636 1,089 846 801 670 226 340 267 653 319 156 335 190 271 4Q16 1Q17 2Q17 3Q17 4Q17 2017 OUTLOOK: US$ 3.25 3.40 BILLION 4Q16 1Q17 2Q17 3Q17 4Q17 2017 OUTLOOK: US$ 1.60 1.75 BILLION 4Q16 1Q17 2Q17 3Q17 4Q17 2017 OUTLOOK: US$ 0.80 0.90 BILLION 54

SG&A EXPENSES US$ MILLION 11% 10% 9% 9% 665 627 8% 211 208 544 533 486 182 164 179 454 420 362 369 307 2013 2014 2015 2016 2017 G&A EXPENSES SELLING EXPENSES EXPENSES / NET REVENUES 55

ADJUSTED EBIT US$ MILLION SPECIAL ITEMS US$ MILLION 9.1% 8.6% 7.3% 8.0% 6.8% 2013 AMERICAN AIRLINES 147 2015 REPUBLIC AIRWAYS (101) 566 543 499 432 397 11.4% 5.6% 3.3% 5.6% 713 2013 2014 332 2015 206 2016 329 2017 2016 REPUBLIC AIRWAYS 52 VOLUNTARY DISMISSAL (117) FCPA SETTLEMENT (228) (293) 2017 REPUBLIC AIRWAYS 12 VOLUNTARY DISMISSAL (6) FCPA SETTLEMENT (10) IMPAIRMENTS EEJ/D&S (63) (68) ADJUSTED EBIT ADJUSTED EBIT MARGIN INCLUDES SPECIAL ITEMS 2017 OUTLOOK: US$ 450 550 MILLION 8.0% 9.0% 56

ADJUSTED EBITDA US$ MILLION SPECIAL ITEMS US$ MILLION 13.8% 13.2% 12.1% 13.3% 12.2% 2013 AMERICAN AIRLINES 147 2015 REPUBLIC AIRWAYS (101) 857 830 715 829 713 2016 REPUBLIC AIRWAYS 52 VOLUNTARY DISMISSAL (117) FCPA SETTLEMENT (228) (293) 16.1% 10.4% 8.6% 11.0% 1,004 615 536 645 2013 2014 2015 2016 2017 2017 REPUBLIC AIRWAYS 12 VOLUNTARY DISMISSAL (6) FCPA SETTLEMENT (10) IMPAIRMENTS EEJ/D&S (63) (68) ADJUSTED EBITDA ADJUSTED EBITDA MARGIN INCLUDES SPECIAL ITEMS 2017 OUTLOOK: US$ 770 890 MILLION 13.5% 14.5% 57

ADJUSTED NET INCOME * US$ MILLION 8.6% 6.6% 4.6% 4.7% 4.8% 535 414 272 291 280 5.5% 5.3% 1.2% 2.7% 4.2% 342 2013 335 2014 69 2015 166 2016 247 2017 NET INCOME NET MARGIN INCLUDES PROVISIONS 58 *EXCLUDES EXTRAORDINARY ITEMS

ADJUSTED EPADS AND PAY OUT US$ 26% 27% 49% 25% 26% 2.93 2.26 1.49 1.58 1.52 1.88 1.82 0.38 0.90 1.34 2013 2014 2015 2016 2017 EPADS PAY OUT INCLUDES PROVISIONS 59

INVESTMENTS US$ MILLION 630 610 533 517 201 176 2017 193 430 188 153 385 400 340 277 329 429 434 49 50 176 200 RESEARCH DEVELOPMENT CAPEX ACTUAL OUTLOOK 2013 2014 2015 2016 2017 R&D CAPEX 2017 OUTLOOK: US$ 650 MILLION 60

ADJUSTED FREE CASH FLOW US$ MILLION 2017: 405 285 220 407 (199) (23) 4Q16 1Q17 2Q17 3Q17 4Q17 4Q16 2016 1Q17 2Q17 3Q17 4Q17 2017 NET CASH GENERATED (USED) BY OPERATING ACTIVITIES 498 535 (48) 398 136 608 1,094 NET ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT (75) (390) (35) (61) (47) (76) (219) ADDITIONS TO INTANGIBLE ASSETS (137) (505) (117) (117) (111) (125) (471) FREE CASH FLOW 285 (359) (199) 220 (23) 407 405 2017 OUTLOOK: > US$(150) MILLION 61

INDEBTEDNESS PROFILE NET CASH INDEBTEDNESS MATURITY NET CASH (DEBT) US$ MILLION 6.3 6.2 6.1 6.0 5.3 (311) 14% 8% 7% 7% 9% (575) (806) (662) (723) 86% 92% 93% 93% 91% 4Q16 1Q17 2Q17 3Q17 4Q17 4Q16 1Q17 2Q17 3Q17 4Q17 LONG-TERM SHORT-TERM LOANS AVERAGE MATURITY (YEARS) TOTAL DEBT: US$ 4.20 BILLION TOTAL CASH: US$ 3.89 BILLION 62

FINANCIAL OUTLOOK 63

2018 OUTLOOK NET REVENUES (US$ BILLION) DELIVERIES US$ MILLION MARGIN 64 26

TRANSITION PATHWAY TRANSITION FCF EBIT MARGIN NET REVENUES US$ BILLION 405 6.8% 5.8 E2 PRODUCTION RAMP UP E2 FINAL DEVELOPMENT COMMERCIAL A/C < 100 (100) 5% - 6% 5.9 5.4 E2 EIS COMPLETE COMMERCIAL A/C > 100 HIGHER SERVICES REVENUES KC-390 INTERNAT. OPPS KC-390 PRODUCTION PHASE NORMALIZED CAPEX DIGITALIZATION LOWER BIZ JET INVENTORY ZERO BASED BUDGET BRAZILIAN SOFT BIZ JET BUDGET 2017 2018E BIZ JET MARKET IMPROVED SUPER TUCANO OPPS. COST MANAGEMENT ORGANIZATION DESIGN MID TERM 65

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