This document provides a summary of Embraer's 3rd quarter 2014 earnings results. It discusses key financial highlights such as increased order backlog, higher aircraft deliveries, and growth in net revenues. While net income declined from the previous quarter, EBITDA margins remained steady and research & development investments are on track to meet annual targets. The presentation also outlines Embraer's business segment revenue outlook and progress on various commercial and defense programs.

1. This information is property of Embraer and can not be used or reproduced without written permission.
3rd QUARTER 2014 EARNINGS RESULTS
NOVEMBER 6th, 2014

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.
BUSINESS HIGHLIGHTS
3
EMBRAER CELEBRATED ITS 45th ANNIVERSARY ON AUGUST 19th.

4. This information is property of Embraer and can not be used or reproduced without written permission.
BUSINESS HIGHLIGHTS
4
EMBRAER ENGINEERING & TECHNOLOGY CENTER
ETHANOL POWERED IPANEMA
EMBRAER WAS LISTED FOR THE 5th CONSECUTIVE YEAR ON THE DOW JONES SUSTAINABILITY INDEX.
EMBRAER WAS AWARDED AND RECOGNIZED BY MANY RENOWNED PUBLICATIONS AND INSTITUTIONS AS ONE OF THE BEST COMPANIES IN BRAZIL IN SEVERAL CATEGORIES.
EMBRAER ENGINEERING & TECHNOLOGY CENTER OPENED ITS DOORS IN MELBOURNE, FLORIDA.
THE ETHANOL POWERED IPANEMA AGRICULTURAL AIRPLANE REACHED THE MILESTONE OF 10 YEARS SINCE CERTIFICATION.

5. This information is property of Embraer and can not be used or reproduced without written permission.
REPUBLIC AIRWAYS
JAPAN AIRLINES
BUSINESS HIGHLIGHTS
JAPAN AIRLINES SIGNED A FIRM ORDER FOR 15 E-JETS (E170 AND E190) AND AN ADDITIONAL 12 E-JETS FAMILY OPTIONS.
DELIVERY OF 19 E-JETS IN 3Q14.
5
REPUBLIC AIRWAYS HOLDINGS SIGNED A CONTRACT FOR 50 FIRM E175 JETS, WHICH WILL BE OPERATED FOR UNITED AIRLINES UNDER THE UNITED EXPRESS BRAND.
EMBRAER PERFORMED THE FIRST METAL CUT OF THE E-JETS E2 AT ITS ÉVORA PLANT IN PORTUGAL.
E-JETS E2 FIRST METAL CUT

6. This information is property of Embraer and can not be used or reproduced without written permission.
BUSINESS HIGHLIGHTS
LEGACY 500 RECEIVED ANAC CERTIFICATION (BRAZIL) AND FAA CERTIFICATION (US).
6
DELIVERY OF 15 EXECUTIVE LIGHT JETS IN 3Q14.
DELIVERY OF THE FIRST LEGACY 500.

7. This information is property of Embraer and can not be used or reproduced without written permission.
BUSINESS HIGHLIGHTS
EMBRAER EXECUTIVE JETS DELIVERED THE 25th PHENOM 300 TO NETJETS CELEBRATING THE 200th PHENOM 300 DELIVERED BY THE COMPANY.
7
EMBRAER BROKE GROUND ON ITS LEGACY 500 AND LEGACY 450 ASSEMBLY COMPLEX IN MELBOURNE, FLORIDA.
EMBRAER EXECUTIVE JETS OPENED NEW FACILITIES AT ITS CONTACT CENTER IN SAO JOSE DOS CAMPOS AND EXPANDED THE CUSTOMER SUPPORT AND SERVICE NETWORK INTO THE BRAZILIAN NORTHEAST REGION.
EMBRAER WAS ELECTED THE NUMBER ONE PROVIDER OF CUSTOMER SUPPORT AND SERVICES SATISFACTION IN THE EXECUTIVE JETS INDUSTRY RANKING, ACCORDING TO THE ANNUAL SURVEY PUBLISHED BY AIN MAGAZINE.

8. This information is property of Embraer and can not be used or reproduced without written permission.
EMBRAER ROLLED OUT THE FIRST PROTOTYPE OF THE KC-390 MILITARY TRANSPORT AIRCRAFT.
BUSINESS HIGHLIGHTS
SIERRA NEVADA CORPORATION & EMBRAER ROLLED OUT THE FIRST U.S. BUILT A-29 SUPER TUCANO FOR THE U.S. AIR FORCE’S LIGHT AIR SUPPORT PROGRAM.
BRADAR WAS CONTRACTED TO SUPPLY THREE SABER M-60 RADARS FOR THE BRAZILIAN NAVY AND SIGNED CONTRACTS WITH THE BRAZILIAN ARMY TO MAP THE AMAPA STATE AND FOR THE THIRD PHASE OF RADAR M200.
8
BRAZILIAN AIR FORCE CONTRACTED EMBRAER DEFENSE & SECURITY TO SUPPLY SIX LEGACY 500 AIRCRAFT TO PERFORM FLIGHT INSPECTION MISSIONS.
SAVIS PARTICIPATED IN A SUCESSFULL EXERCISE TO VERIFY THE SISFRON IMPLEMENTED OPERATIONAL CAPABILITIES. THE PROJECT IS ON TRACK AS CONTRACTED BY THE BRAZILIAN ARMY.
KC-390 ROLL OUT
SUPER TUCANO ROLL OUT

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

10. This information is property of Embraer and can not be used or reproduced without written permission.
FIRM ORDER BACKLOG
US$ BILLION
17.8 18.2 19.2 18.1
22.1
3Q13 4Q13 1Q14 2Q14 3Q14
10

11. This information is property of Embraer and can not be used or reproduced without written permission.
4
15
3 7
21
38
17
22
15
3Q13 4Q13 1Q14 2Q14 3Q14
19
32
14
29
19
3Q13 4Q13 1Q14 2Q14 3Q14
AIRCRAFT DELIVERIES
LARGE JETS - LEGACY & LINEAGE
2014 DELIVERIES ESTIMATES LIGHT JETS - PHENOM
• 92 - 97 E-JETS
• 25 - 30 EXECUTIVE LARGE JETS
• 80 - 90 EXECUTIVE LIGHT JETS
11

12. This information is property of Embraer and can not be used or reproduced without written permission.
267
369 394 357 346
3Q13 4Q13 1Q14 2Q14 3Q14
315
785
267
421
213
3Q13 4Q13 1Q14 2Q14 3Q14
687
1,120
555
972
661
3Q13 4Q13 1Q14 2Q14 3Q14
1,288
2,304
1,242
1,761
1,240
3Q13 4Q13 1Q14 2Q14 3Q14
NET REVENUES BY SEGMENT – 2014 OUTLOOK
US$ 1.5 – 1.7 BILLION US$ 1.2 – 1.3 BILLION
US$ US$ 6.0 – 6.5 BILLION 3.2 – 3.4 BILLION
12
YTD: 4.2 BILLION YTD: 2.2 BILLION
YTD: 0.9 BILLION YTD: 1.1 BILLION

13. This information is property of Embraer and can not be used or reproduced without written permission.
US$ MILLION R$ MILLION
13
NET REVENUES
2014 OUTLOOK: US$ 6.0 – 6.5 BILLION
2,944
5,296
2,929
3,929
2,827
3Q13 4Q13 1Q14 2Q14 3Q14
1,288
2,304
1,242
1,761
1,240
3Q13 4Q13 1Q14 2Q14 3Q14
YTD: 4,243 YTD: 9,685

14. This information is property of Embraer and can not be used or reproduced without written permission.
256 258
219
257
226
117 120
113
118
118
3Q13 4Q13 1Q14 2Q14 3Q14
332
375
344
373 378
G&A EXPENSES SELLING EXPENSES
14
SG&A EXPENSES
US$ MILLION R$ MILLION
112 113
92
115
99
51 52
48
53
52
3Q13 4Q13 1Q14 2Q14 3Q14
165
140
163
151
168
YTD: 459 YTD: 1,051

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173
1,068
215
417
157
5.9%
20.2%
7.4%
10.6%
5.6%
3Q13 4Q13 1Q14 2Q14 3Q14
76
463
92
187
68
5.9%
20.1%
7.4%
10.6%
5.5%
3Q13 4Q13 1Q14 2Q14 3Q14
15
INCOME FROM OPERATIONS (EBIT)
2014 OUTLOOK: EBIT: US$ 540 – 620 MILLION
EBIT MARGIN: 9.0% – 9.5%
US$ MILLION R$ MILLION
EBIT EBIT MARGIN
YTD: 347 | 8.2% YTD: 789 | 8.1%

16. This information is property of Embraer and can not be used or reproduced without written permission.
156
544
151
261
136
12.1%
23.6%
12.2%
14.8%
11.0%
3Q13 4Q13 1Q14 2Q14 3Q14
16
EBITDA
2014 OUTLOOK: EBITDA: US$ 780 – 910 MILLION
EBITDA MARGIN: 13.0% – 14.0%
US$ MILLION R$ MILLION
EBITDA EBITDA MARGIN
YTD: 548 | 12.9% YTD: 1,249 | 12.9%
359
1,253
355
583
311
12.2%
23.7%
12.1%
14.8%
11.0%
3Q13 4Q13 1Q14 2Q14 3Q14

17. 17 This information is property of Embraer and can not be used or reproduced without written permission.
NET INCOME
US$ MILLION R$ MILLION
NET INCOME NET MARGIN
YTD: 243 | 5.7% YTD: 554 | 5.7%
119
607
259 320
(24)
4.0%
11.5%
8.8%
8.1%
-0.9%
3Q13 4Q13 1Q14 2Q14 3Q14
53
265
111
143
(11)
4.1%
11.5%
8.9%
8.1%
-0.9%
3Q13 4Q13 1Q14 2Q14 3Q14

18. This information is property of Embraer and can not be used or reproduced without written permission.
2,780
2,287
2,542 2,439
2,767
3Q13 4Q13 1Q14 2Q14 3Q14
18
INVENTORIES
US$ MILLION

19. This information is property of Embraer and can not be used or reproduced without written permission.
3Q13 4Q13 1Q14 2Q14 3Q14 2014 YTD
NET CASH GENERATED (USED) BY OPERATING ACTIVITIES* 102 761 (273) 13 49 (211)
ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT (106) (156) (48) (60) (89) (197)
ADDITIONS TO INTANGIBLE ASSETS (80) (109) (83) (103) (97) (283)
FREE CASH FLOW (84) 496 (404) (150) (138) (691)
102
761
(273)
13 49
(106) (156)
(48)
(60) (89)
(80)
(109)
(83)
(103) (97)
(84)
496
(404)
(150) (138)
3Q13 4Q13 1Q14 2Q14 3Q14
19
FREE CASH FLOW
* Net of Financial assets adjustment
US$ MILLION YTD: (691)

20. This information is property of Embraer and can not be used or reproduced without written permission.
30
112 101
80
320
250
RESEARCH DEVELOPMENT CAPEX
2014 OUTLOOK: US$ 650 MILLION
2014 YTD 2014 OUTLOOK
20
INVESTMENTS
US$ MILLION YTD: 243

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96% 96% 96% 96% 96%
4% 4% 4% 4% 4%
6.3 6.2
5.9 5.7 5.6
3Q13 4Q13 1Q14 2Q14 3Q14
INDEBTEDNESS MATURITY NET CASH (DEBT) - US$ MILLION
LONG-TERM SHORT-TERM
LOANS AVERAGE MATURITY (YEARS)
21
INDEBTEDNESS PROFILE | NET CASH
TOTAL DEBT 3Q14: US$ 2.37 BILLION TOTAL CASH 3Q14: US$ 2.05 BILLION
(20)
429
53
(114)
(327)
3Q13 4Q13 1Q14 2Q14 3Q14

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INVESTOR RELATIONS
PHONE: +55 12 3927 4404 INVESTOR.RELATIONS@EMBRAER.COM.BR WWW.EMBRAER.COM