1. Salomon Smith Barney
Latin Conference
March 7 & 8, 2002
Maurício Novis Botelho
President & CEO

2. The Company

3. Foward Looking Statements
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 markets; management’s expectations and estimates
concerning our future financial performance, financing plans and programs, and the effects of
competition; successful development and marketing of the Embraer 170/190 jet family; our level of
debt; anticipated trends in our industry; our expenditure plans; inflation and devaluation; our ability
to develop and deliver our products on a timely basis; and existing and future governmental
regulation.
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.

4. Company Highlights
Q Fourth largest commercial aircraft manufacturer in
the world, with leading aerospace products and
technology
Q Premier global customer base - strong market share
Q Strong global partners
Q Outstanding financial performance
Q Largest exporter in Brazil in 1999, 2000 & 2001

5. Commercial Market
ERJ 135/ 140/ 145 Jet Family
n 37, 44 and 50-seat jet family
n 96% commonality among aircraft
As of January 31, 2002:
n 866 firm orders and 361 options
n 512 aircraft delivered since ‘96

6. Commercial Market
EMBRAER 170/ 175/ 190/ 195
Jet Family
n 70,78, 98 and 108-seat jet family
n 112 firm orders and 202 options
on January 31, 2002
n Nearly two-thirds of
development costs borne by risk
sharing partners
n Deliveries scheduled to begin in
late 2002 with EMBRAER 170

7. Corporate Market - Legacy
Versions
Q Executive
Q Corporate Shuttle
Q Transport for Authorities
Q Corporate Jet based on the ERJ 135
Q First delivered in January, 2002
Q 167 units sold (73 firm orders and 94 options – as of
February, 2002)

8. Global Customer Base
Proteus Airlines

9. Global Presence
West Palm Beach -USA
Le Bourget - France
Dallas - USA
Weybridge,
UK
Fort Lauderdale-USA
Beijing - China
Cingapure
São José dos Campos
Melbourne- Austrália
Botucatu Gavião Peixoto Eugênio de Melo

10. Industrial Partners and Suppliers
ERJ 145 Family: 4 Partners & 350 Suppliers
EMBRAER 170/190: 16 Partners & 22 Suppliers

11. The Airline Market
An Industry in Transition

12. Industry in Transition (after Sept.11)
Capacity Management
QParked Aircraft
QDelivery schedules being re-negotiated
(regional jets to a much lesser extent)
QRightsizing capacity vs. demand: regional
jets being used in the USA to maintain
presence in markets with decreased
demand
QCash Management: focus on return to
profitability in a low-yield environment

13. US Regional Enplanements Increasing
Passenger
U.S. Regional Airlines
Enplanements
(Millions) % of Domestic Traffic
1,000
Major
800
600
400
200
14%
12 %
7%
3% Regional
0
1970
1970 1985
1985 2000
2000 2010F
2010F
Source: RAA, FAA

14. Commercial Airline Market - USA
20% 17%
14%
13%
9%
10% 7%
6%
RPM Growth - Yr/Yr % Change
5% 5%
2% 2% 3%
1% 0%
0%
-1% -1%
-3% -3% -2% -2%
jan/01 Feb Mar Apr May jun/01 Jul Aug Sep Oct Nov Dec/2001
-10%
-13%
-20% -18%
-21%
-23%
Domestic ATA Regional RAA
-30%
-33%
-40%
Source: Top Regionals, ATA

15. Commercial Airline Market - Europe
15% 13%
10% 9% 9%
RPK Growth - Yr/Yr % Change
7% 7% 7% 7%
6% 6% 6% 6%
5% 5% 4% 4% 4%
5%
1% 1%
0%
jan/01 Feb Mar Apr May jun/01 Jul Aug -3%
Sep Oct Nov Dec/01
-5%
-3%
-7%
-10%
Intra-European AEA Regional ERAA
-15% -13% -14%
-15%
-20%
Source: ERAA, AEA

16. Industry in Transition (after Sept.11)
Rightsizing capacity vs. demand: Routes transferred to RJs
Jet Replacement
Turboprop Replacement
Source: Back OAG (American, Continental, Delta,
United, and US Airways)

17. Industry in Transition after Sep 11
Rightsizing capacity vs. demand: Routes transfered to RJs
Jet Replacement
Turboprop Replacement
Source: Back OAG Air France, Alitalia and British Airways

18. The New Jet Family

19. US Regional Aircraft Size Increasing
Average Seating Capacity
Seats per Aircraft
50
50
40
40
30
30
20
20
10
10
0
0
1990
1990 1995
1995 2000
2000 2010F
2010F
Source: FAA, RAA, Embraer

20. European Regional Aircraft Size Increasing
Average Seating Capacity
Seats per Aircraft
80
80
70
70
60
60
50
50
40
40
30
30
20
20
10
10
0
0
1990
1990 1995
1995 2000
2000 2010F
2010F
Source: ERAA, Embraer

21. Anticipating Market Needs
EE M B R A E R 11 7 0
MBRAER 70
70 Seats
70 Seats
EE M B R A E R 11 7 5
MBRAER 75
78 Seats
78 Seats
EE M B R A E R 11 9 0
MBRAER 90
98 Seats
98 Seats
EE M B R A E R 11 9 5
MBRAER 95
108 Seats
108 Seats

22. Filling the Seat Capacity Gap
Seat Capacity
160
Narrow Body Large Aircraft
120
EMBRAER 170/190
80
50 Seat ERJ
40 37 - 44 Seat
ERJs
30 Seat
Tprops
0
200 400 600 800 1000 1200 1400
Stage Length (nm)

23. EMBRAER 170/190 Cabin Specs.
Q Better than mainline jet comfort in
all-business cabin concept
Q Cabin features:
Q no middle seat
Q large headroom
Q easier access to bins and
seats
Q faster boarding and deplaning
Q Cabin can accommodate roll-on
bag for each passenger
Q Superior ground service access
and baggage handling
Q Highest total baggage volume and
highest baggage volume per
passenger in its category Actual mockup picture

24. Backlog & Demand
Forecast

25. ERJ 145 Family Orderbook
Firm
Firm Options Total Deliveries Backlog
ERJ 135 121 47 168 89 32
ERJ 140 174 45 219 24 150
ERJ 145 571 269 840 399 172
Total 866 361 1,227 512 354
As of January/2002 25

26. EMBRAER 170/190 Family Orderbook
Firm Options Total
EMBRAER 170
EMBRAER 170 82 130 212
EMBRAER 190
EMBRAER 190 30 72 102
Total 112 202 314
As of January/2002

27. Market Forecast
Market Forecast 2002 – 2011
2002 – 2011
World Deliveries by Segment - Jets
World Deliveries by Segment - Jets
Segment
Segment 2002-2011
2002-2011 2012-2021
2012-2021
30 - 60
30 - 60 1,810
1,810 1,735
1,735
61 - 90
61 - 90 1,085
1,085 1,285
1,285
91 - 120
91 - 120 1,190
1,190 1,590
1,590
Total
Total 4,085
4,085 4,610
4,610
World (30-120 seat segment): 8,695 jets (US$200 Billion)
World (30-120 seat segment): 8,695 jets (US$200 Billion)

29. Financials

30. Firm Orders on Backlog
(US$ Million)
14000
11,449 10.662
12000
10000
8000 6,367
6000
4,112
4000 3,011
2000 729 1,227
647
0
94 95 96 97 98 99 00 01

31. Jet Deliveries - Units
180
160 161
160 145
140 135
120
96
100
80
60
60
40 32
20
4
0
1996 1997 1998 1999 2000 2001 2002E 2003E

32. Gross Sales
US$ Million – Corporate Law
3500
3000 2,859
2,406
2500
1,861
2000
1,362
1500
1000 772
390
500
0
96 97 98 99 00 9M01
Growth:
97/96: 98%
98/97: 76%
99/98: 37%
00/99 54%

33. Trade Balance Contribution
(US$ Million)
3.000 2.897
2.702
2.500
2.000 1.843
US$ Milllion
1.692
1.500 1.352
1.173 1.178
1.000 881
634
469
500
264 220
193 147
-
95 96 97 98 99 (*) 00 (*) 01 (*)
Export Import
(*) Source: Decex

34. Revenue by Segment
Towards Diversification
9 Months 2001
Parts &
Services /
Others
Commercial
6%
87%
Defense
5%
2002 (F) Corporate
2%
Parts &
Services /
Commercial
Others
71%
7%
Defense
12% 2003 (F)
Corporate
Parts &
10%
Services /
Others Commercial
7% 69%
Defense
12%
Corporate
12%

35. EBITDA
US$ Million – Corporate Law
1000
780
800
596
600
400
400 274
162
200
47
0
-200 -93
-400
95 96 97 98 99 00 9M01
EBITDA means Net Income before Interest, Income Taxes, Non-Operating Expenses,
Depreciation and Amortization

36. Net Income
US$ Million – Corporate Law
450
400
354
350
353
300
250 227
200
150 114
100
50
0
-50
-31
-100
-150 -122
-200
96 97 98 99 00 9M01

37. Net (Debt) Cash
(US$ Million)
1000
732
500
139
0
-289 -249 -329
-500 -415
96 97 98 99 00 Sep. 01

38. Investments
(US$ Million)
300 283
250 213
200 147
150 122
98 104
81
100
50
0
95 96 97 98 99 00 01
40%
Product Productivity Efforts
Development 60%

39. Investment Forecast
(US$ Million) 2002 2003 2004 2005 2006 Total
Products under Development 204 183 171 166 168 892
Commercial Programs 138 105 61 34 27 365
Corporate Programs 15 6 2 2 2 27
Defense Programs 51 72 109 130 139 501
Segments 3 2 2 2 2 11
Technology Development 6 6 6 6 6 30
TOR (Transformation of the Organization) 2 2 - - - 4
Property, Plant & Equipment 116 69 59 50 51 345
TOTAL 331 262 238 224 227 1282