- The company reported financial results for the second quarter of 2011, with revenues of $1.97 billion, a 45 aircraft delivery total, and 62 firm E-Jet orders. - Recent highlights included new orders from airlines and leasing companies, customer base expansion, and cooperation agreements. - The presentation revised full-year 2011 outlook with increased expected revenues to $5.8 billion, EBIT to $465 million, and EBITDA to $700 million. Research spending is projected to remain $90 million while development spending will decrease to $160 million.

1. SECOND QUARTER 2011 RESULTS
July 29th, 2011

2. 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.
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3. Recent Highlights
• Market demand – at Paris Air Show four new deals annouced:
Sriwijaya (Indonesia), Kenya Airways, GECAS (U.S.) and Air Lease (U.S.).
• 1H11: delivery of 45 jets and sale of 62 E-Jets, reaching 1,003 firm orders
and 742 deliveries.
• 42 additional aircraft pending final documentation, totaling 104 in 1H11.
• Continuous customer base expansion – three new
airlines added: People’s Viennaline (Austria),
Air Astana (Kazakhstan) and Bulgaria Air.
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4. Recent Highlights
• Strategic cooperation agreement with China’s Minsheng Financial Leasing
for up to 20 executive jets.
• EBACE – first signs of recovery with a couple of orders:
Comlux The Aviation Group – three Legacy 650;
Portugal’s Ricon Group (Everjets) – one Phenom 300.
• Delivery of the 200th Phenom to Swift Aviation Group.
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5. Recent Highlights
• Sale of eight Super Tucano to Indonesian Air Force.
• KC-390 – most of the strategic partnership suppliers selected, including
engine.
• Program entering joint definition phase.
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6. Revenue by Segment
Revenue
1.36 1.04 1.97 1.05 1.36 US$ Billion
11% 8%
14% 17% 14%
14%
12%
13% 7% 11%
12% 48%
24%
14% 19% 16%
32% 10%
14%
62% 60% 61% 59%
48%
2Q10 3Q10 4Q10 1Q11 2Q11
Commercial aviation Executive aviation Defense and security Aviation services and others
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7. Aircraft Deliveries
48
39
29 30
22 25
20 20 20
13
1 2 2 6 3
2Q10 3Q10 4Q10 1Q11 2Q11
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 2.9 2.8
18.8 20.9
14.8 16.6 15.6 16.0 15.8
2006 2007 2008 2009 2010 1Q2011 2Q2011
Firm Order Backlog Backlog/Revenue (Years)
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9. Revenues and Gross Margin
IFRS - US$ Million IFRS - R$ Million
20.2% 20.5% 24.3% 20.2% 20.6% 24.3%
22.4% 22.4%
16.8% 16.8%
1,970 3,342
1,358 1,359 2,435
2,169
1,044 1,056 1,820 1,757
2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11
Revenues Gross Margin
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10. SG&A Expenses
IFRS - US$ Million IFRS - R$ Million
282 277
173 256 247 252
167
143 151 103
142 103
61 64 88 95
92
49 57
53
109 168 179 174
94 106 94 155 157
89
2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11
G&A Expenses Selling Expenses
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11. Income from Operations
IFRS - US$ Million IFRS - R$ Million
9.0% 6.7% 8.9% 7.8% 9.0% 6.7% 8.9% 7.8%
6.4%
6.4%
132 219 225
122
106 169
94 157
66 116
2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11
EBIT EBIT Margin
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12. EBITDA
IFRS - US$ Million IFRS - R$ Million
12.2% 12.5% 14.8% 12.2% 12.5% 14.8%
11.3% 11.5%
10.0% 10.0%
197 335
166 298
156 153 260 250
131 227
2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11
EBITDA EBITDA Margin
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13. Net Income
IFRS - US$ Million IFRS - R$ Million
10,0% 9.9%
12.1%
12,1% 7.1%
6.2%
6,2% 7,1%
4,2%
4.2%
220 208
126 123 174
105 96 154
102
57
2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11
Net Income Net Margin
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14. Inventories / Free Cash Flow
Inventories Free Cash Flow
220
193
2,708 2,697
2,561
2,371
2,198 (38)
(66)
(126)
2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11
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15. Indebtedness Profile / Net Cash
Indebtedness Maturity Net Cash
6% 5% 10% 13%
22%
6.3
6.1
5.8 5.7
5.0
95% 90% 692
94% 87% 652 618
505
78% 406
2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11
Long-term Short-term
Loans Average Maturity (Years)
Total Debt 2Q11: US$ 1.72 Billion Total Cash 2Q11: US$ 2.13 Billion
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16. 2011 OUTLOOK REVISION

17. 2011 Outlook Revision
Current Outlook New Outlook
Net Revenues US$ 5.6 billion ~4% US$ 5.8 billion
EBIT US$ 420 million ~11% US$ 465 million
EBIT margin 7.5% 8.0%
EBITDA US$ 610 million ~15% US$ 700 million
EBITDA margin 11.0% 12.0%

18. 2011 Outlook Revision
Current Outlook New Outlook
Research US$ 90 million US$ 90 million
Development US$ 210 million US$ 160 million
CAPEX US$ 200 million US$ 200 million
US$ Million
200
160
90 83 71
38
Research Development CAPEX
YTD Outlook
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