This document provides an earnings results presentation for Embraer for 4Q15 and FY2015. It summarizes key financial highlights including a backlog of $22.5 billion, free cash flow generation of $178 million, and net revenues of $5.93 billion. It also outlines deliveries, financial results, segment performance, expenses, cash flow, debt profile, and the 2016 outlook with projected net revenues of $6-6.4 billion and EBITDA of $800-870 million.

1. This information is property of Embraer and can not be used or reproduced without written permission.
4Q15 & FY 2015
EARNINGS RESULTS
MARCH 3rd, 2016

2. This information is property of Embraer and can not be used or reproduced without written permission.
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
FORWARD LOOKING STATEMENT

3. This information is property of Embraer and can not be used or reproduced without written permission.
FINANCIAL HIGHLIGHTS
3
BACKLOG OF US$ 22.5 BILLION.
FREE CASH FLOW GENERATION OF US$ 178 MILLION.
NET CASH POSITION OF US$ 7.2 MILLION.
REVENUES OF US$ 5,928 MILLION.
PROVISION FOR REPUBLIC CHAPTER 11 OF US$ 101 MILLION.
EBIT OF US$ 332 MILLION AND 5.6% MARGIN (EX. REPUBLIC US$ 432 MILLION AND 7.3%).
NET INCOME AND EPADS OF US$ 69 MILLION AND US$ 0.38.

4. This information is property of Embraer and can not be used or reproduced without written permission.
HIGHLIGHTS
4
DELIVERY OF 101 E-JETS AND NET FIRM ORDERS OF 155 IN 2015.
BOOK-TO-BILL OF 1.5 X IN 2015.
9 NEW E-JETS OPERATORS IN 2015.
ACCUMULATED NET FIRM ORDERS OF 1,704 E-JETS.
ROLLOUT OF THE FIRST E190-E2.

5. This information is property of Embraer and can not be used or reproduced without written permission.
HIGHLIGHTS 4Q15
5
DELIVERY OF 33 E-JETS IN 4Q15.
DELIVERY OF THE 1,200TH E-JET TO AZUL.
SKYWEST ORDER FOR 19 E175s (FLY FOR DELTA AIRLINES).
KLM CITYHOPPER CONFIRMED OPTIONS FOR TWO E175s.
NEW E2 ENGINES STARTED FLIGHT TEST PROGRAM SUCCESSFULLY.

6. This information is property of Embraer and can not be used or reproduced without written permission.
HIGHLIGHTS
6
DELIVERY OF 120 EXECUTIVE JETS (82 LIGHT AND 38 LARGE) IN 2015.
BOOK-TO-BILL OF 1.1 X IN 2015.
PHENOM 300: MOST DELIVERED EXECUTIVE JET FOR THE THIRD CONSECUTIVE YEAR.
CERTIFICATION AND ENTRY INTO SERVICE OF LEGACY 450 MID-LIGHT EXECUTIVE JET.

7. This information is property of Embraer and can not be used or reproduced without written permission.7
HIGHLIGHTS 4Q15
DELIVERY OF 45 EXECUTIVE JETS (25 LIGHT AND 20 LARGE) IN 4Q15.
EMIRATES FLIGHT TRAINING ACADEMY ORDER FOR UP TO 10 PHENOM 100E.
DELIVERY OF 2 LINEAGE 1000 IN THE US MARKET.
LEGACY 450 ENTRY INTO SERVICE WITH FIRST THREE DELIVERIES.

8. This information is property of Embraer and can not be used or reproduced without written permission.
HIGHLIGHTS
8
FIRST FLIGHT OF KC-390 IN FEBRUARY 2015.
KC-390 FIGHT TEST CAMPAIGN: 100+ HOURS (2ND PROTOTYPE TO FLY IN 1Q16).
DELIVERY OF 15 OUT OF 20 SUPER TUCANOS TO THE USAF (11 IN 2015).
F-39 GRIPEN PROGRAM BECAME EFFECTIVE (INITIAL WORKS IN SWEDEN/BRAZIL).
SISFRON PROJECT FINISHED 2015 WITH MORE THAN 50% EXECUTION.

9. This information is property of Embraer and can not be used or reproduced without written permission.9
HIGHLIGHTS 4Q15
LEBANESE AIR FORCE ACQUIRED SIX A-29 SUPER TUCANO.
ATECH COMPLETED FIRST PHASE OF AIR TRAFFIC MANAGEMENT SYSTEM IN INDIA.
BRAZILIAN GEOSTATIONARY SATELLITE BEGAN INTEGRATION AND TESTING PHASE.
PHENOM 100 SELECTED TO TRAIN AIRCREW IN THE UK ARMED FORCES (FEB. 2016).

10. This information is property of Embraer and can not be used or reproduced without written permission.
FINANCIAL RESULTS

11. This information is property of Embraer and can not be used or reproduced without written permission.
15.4
12.4
18.2
20.9
22.5
2011 2012 2013 2014 2015
FIRM ORDER BACKLOG
11
COMMERCIAL
AVIATION DEFENSE
& SECURITY
EXECUTIVE
JETS
US$ BILLION

12. This information is property of Embraer and can not be used or reproduced without written permission.
16 22 29 24
38
83 77
90 92
82
2011 2012 2013 2014 2015
105 106
90 92 101
2011 2012 2013 2014 2015
LARGE JETS - LEGACY & LINEAGE
LIGHT JETS - PHENOM
AIRCRAFT DELIVERIES
95 - 100 E-JETS
35 - 40 EXECUTIVE LARGE JETS
80 - 90 EXECUTIVE LIGHT JETS
12
99 99
120116119
2015 OUTLOOK:

13. This information is property of Embraer and can not be used or reproduced without written permission.
NET REVENUES
2015 OUTLOOK: US$ 5.8 – 6.3 BILLION
13
5,791 6,167 6,235 6,289 5,928
2011 2012 2013 2014 2015
US$ MILLION

14. This information is property of Embraer and can not be used or reproduced without written permission.
29%
48%
65%
22%
14%
11%
21%
21%
12%
8%
3%
2%
6%
4%
4%9% 4%
4%5% 6% 2%
2013 2014 2015
53% 50%
56%
27%
26%
30%
19% 23%
13%
1% 1% 1%
2013 2014 2015
NET REVENUES BREAKDOWN
SEGMENT REGION
OTHERS
Net Revenues
US$ Billion
6.24 6.29 5.93
Net Revenues
US$ Billion
6.24 6.29 5.93
NORTH AMERICA BRAZIL
EUROPE
ASIA PACIFIC
SOUTH & CENTRAL
AMERICA
AFRICA &
MIDDLE EAST
CHINA
14

15. This information is property of Embraer and can not be used or reproduced without written permission.
975
662
883
688
1,115
4Q14 1Q15 2Q15 3Q15 4Q15
359
213 216 182 200
4Q14 1Q15 2Q15 3Q15 4Q15
690
167
404 402
746
4Q14 1Q15 2Q15 3Q15 4Q15
2,045
1,056
1,513
1,285
2,074
4Q14 1Q15 2Q15 3Q15 4Q15
NET REVENUES BY SEGMENT
OUTLOOK: US$ 1.70 – 1.85 BILLION OUTLOOK: US$ 0.80 – 0.95 BILLION
OUTLOOK: US$ 3.20 – 3.40 BILLIONOUTLOOK: US$ 5.80 – 6.30 BILLION
2015: 5.93 BILLION 2015: 3.35 BILLION
2015: 1.72 BILLION 2015: 0.81 BILLION
15

16. This information is property of Embraer and can not be used or reproduced without written permission.
SELLING EXPENSESG&A EXPENSES EXPENSES / NET REVENUES
16
SG&A EXPENSES
419
480 454 420 362
261
279
211
208
182
12% 12% 11% 10% 9%
2011 2012 2013 2014 2015
US$ MILLION
544
628
665
759
680

17. This information is property of Embraer and can not be used or reproduced without written permission.
289 248
308 278
373
141
124
143
152
191
4Q14 1Q15 2Q15 3Q15 4Q15
113
86
100
78
97
55
43
47
43
50
4Q14 1Q15 2Q15 3Q15 4Q15
430
564
430 451
372
SELLING EXPENSESG&A EXPENSES
147
121
129
168
147
17
SG&A EXPENSES
US$ MILLION R$ MILLION 2015: 1,8162015: 544

18. This information is property of Embraer and can not be used or reproduced without written permission.
432
2015 OUTLOOK: US$ 490 – 560 MILLION | 8.5% – 9.0%
EBIT EBIT MARGIN EXCLUDING AMR EFFECT
18
318
612
713
543
332
5.5%
9.9%
11.4%
8.6%
5.6%
2011 2012 2013 2014 2015
9.1%
566
INCOME FROM OPERATIONS (EBIT)
US$ MILLION
7.3%
EXCLUDING REPUBLIC EFFECT

19. This information is property of Embraer and can not be used or reproduced without written permission.
749
557
891
1,004
830
648
9.6%
14.4%
16.1%
13.2%
10.9%
2011 2012 2013 2014 2015
13.8%
EBITDA EBITDA MARGIN
857
19
EBITDA
US$ MILLION
2015 OUTLOOK: US$ 730 – 860 MILLION | 12.6% – 13.6%
EXCLUDING AMR EFFECT EXCLUDING REPUBLIC EFFECT
12.8%

20. This information is property of Embraer and can not be used or reproduced without written permission.
112
348 342 335
69
1.9%
5.6% 5.5% 5.3%
1.2%
2011 2012 2013 2014 2015
NET MARGINNET INCOME
20
NET INCOME
US$ MILLION
4.6%
272
ADJUSTED NET INCOME
67
REPUBLIC EFFECT

21. This information is property of Embraer and can not be used or reproduced without written permission.
EPADS AND PAY OUT
EPADS PAY OUT
21
US$
1.49
ADJUSTED EPADS
0.62
1.92 1.88 1.82
0.38
116%
26% 26% 27%
49%
2011 2012 2013 2014 2015

22. This information is property of Embraer and can not be used or reproduced without written permission.
INVESTMENTS
22
US$ MILLION
2015 OUTLOOK: US$ 650 MILLION
42
288
188
50
300 300
RESEARCH DEVELOPMENT CAPEX
2015: 518

23. This information is property of Embraer and can not be used or reproduced without written permission.
4Q14 1Q15 2Q15 3Q15 4Q15 2015
NET CASH GENERATED (USED) BY OPERATING ACTIVITIES* 507 (291) 245 70 872 895
NET ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT (87) (57) (74) (76) (83) (290)
ADDITIONS TO INTANGIBLE ASSETS (132) (91) (98) (110) (129) (428)
FREE CASH FLOW 288 (440) 73 (115) 660 178
2015: 178
23
FREE CASH FLOW
US$ MILLION
2015 OUTLOOK: FCF > (US$ 100) MILLION
FREE CASH FLOW ACCUMULATED 2015
288
(440)
73
(115)
660
(440)
(367)
(482)
178
4Q14 1Q15 2Q15 3Q15 4Q15

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(39)
(535)
(465)
(644)
7
4Q14 1Q15 2Q15 3Q15 4Q15
96% 89% 90% 91% 94%
4% 11% 10% 9% 6%
5.4 5.3
6.5 6.5
6.2
4Q14 1Q15 2Q15 3Q15 4Q15
INDEBTEDNESS PROFILE | NET CASH
INDEBTEDNESS MATURITY NET CASH (DEBT) - US$ MILLION
LONG-TERM SHORT-TERM
LOANS AVERAGE MATURITY (YEARS)
TOTAL DEBT 4Q15: US$ 3.530 BILLION TOTAL CASH 4Q15: US$ 3.538 BILLION
24

25. This information is property of Embraer and can not be used or reproduced without written permission.
2016 OUTLOOK

26. This information is property of Embraer and can not be used or reproduced without written permission.
NET REVENUES US$ 6.00 – 6.40 BILLION
2016 CONSOLIDATED OUTLOOK
12% OF NET REVENUES US$ 0.70 – 0.75 BILLION
1% OF NET REVENUES US$ 100 MILLION
30% OF NET REVENUES US$ 1.75 – 1.90 BILLION
57% OF NET REVENUES US$ 3.45 – 3.65 BILLION
DELIVERIES 105 TO 110 E-JETS
OTHER REVENUES
75 TO 85 LIGHT JETS
40 TO 50 LARGE JETS
26
DELIVERIES

27. This information is property of Embraer and can not be used or reproduced without written permission.
EBITDA MARGIN 13.3% – 13.7%
EBITDA US$ 800 – 870 MILLION
EBIT MARGIN 8.0% – 8.5%
EBIT US$ 480 – 545 MILLION
FCF > (US$ 100) MILLION
2016 CONSOLIDATED OUTLOOK
RESEARCH US$ 50 MILLION
DEVELOPMENT US$ 325 MILLION
CAPEX US$ 275 MILLION
INVESTMENTS US$ 650 MILLION
27
FCF USE OF LESS THAN US$ 100 MILLION

28. This information is property of Embraer and can not be used or reproduced without written permission.
+55 12 3927 4404 | investor.relations@embraer.com.br | www.embraer.com