Corporate Aircraft Market5th U.S. Annual Analyst and Investor Meeting

March, 2005

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.

The world discovers the Legacy

49 aircraft, 12 countries

Legacy Service Center Network

19 Authorized Service Centers offering airframe line and heavy maintenance

New Service CentersCurrent Service Centers

Parts Distribution Centers

Fort Lauderdale• 26,000 Part Numbers• Service hours=24/7• 5,000 Line items/month• Inventory value = $ 104 M

Paris• 25,000 Part Numbers• Service hours=24/7• 2,400 Line items/month• Inventory value = $ 124 M

Beijing• 3,100 Part Numbers• Service hours=12/6• 1,600 Line items/month• Inventory value = $ 16 M

S.José dos Campos• 22,600 Part Numbers• Service hours=12/6• 6,100K Line items/month• Inventory value = $ 63 M

4 Distribution Centers distributing parts to the Legacy Service Centers

Sales Structure

Growing Sales Structure

Embraer Corporate Jets Authorized Sales Representative Network

United Kingdom and Ireland

Sub – Saharian African Countries

Belgium MonacoNetherlands Côte d’AzurLuxembourg

Flight Options

“The introduction of the Legacy last year as a replacement for [our other] large-cabin [aircraft] has been succesful, Scheeringa says, and the company plans to add four aircraft a year, depending on demand. ”

“A first for the industry, he says.”

Michael ScheeringaFlight Options, COO and acting CEOFlight International, 8-14 March 2005

“The introduction of the Legacy last year as a replacement for [our other] large-cabin [aircraft] has been succesful, Scheeringa says, and the company plans to add four aircraft a year, depending on demand. ”

“A first for the industry, he says.”

Michael ScheeringaFlight Options, COO and acting CEOFlight International, 8-14 March 2005

Legacy has flown around 130 h/month, an utilization record on Flight Options fleetLegacy has flown around 130 h/month, an utilization record on Flight Options fleet

Brazilian Operators

“The company acquired the Legacy in May 2002… It has completed 35 international flights with perfect dispatchability. Not a single failure occurred.”

“...is a extremely versatile aircraft, with cabin size and performance comparable to planes that cost twice as much.”

José Claudio TorresanChief Pilot – Major Brazilian Corporation

Aero Magazine, March 2005

“The company acquired the Legacy in May 2002… It has completed 35 international flights with perfect dispatchability. Not a single failure occurred.”

“...is a extremely versatile aircraft, with cabin size and performance comparable to planes that cost twice as much.”

José Claudio TorresanChief Pilot – Major Brazilian Corporation

Aero Magazine, March 2005

Legacy achieved 100% dispatchability in Brazil in the last 12 monthsLegacy achieved 100% dispatchability in Brazil in the last 12 months

ProductImprovements

Ceiling

More flexibility

Freedom: avoid congested flight levels

Less turbulence

Less traffic

Certified in 1Q/ 2005(also as a SB for current operators)41,000 ft

DELIVERED

Special runway operation

First large cabin twin jet capable to operate in LCY

Wet and dry operations

Steep approach landing

Increased range capability:London – Moscow ( 1,420 nm)London – Cairo ( 1,930 nm)London – Azores ( 1,750 nm)

Certified in 4Q 2004LCY Operation

8 pax

4 pax

Mach 0.74DELIVERED

Short runways performance improvement

Enhanced performance calculations

Demanding conditions: improved take-off performance

More flexibility: shorter runaway lengths, more airports available

Certified in 4Q/2004DELIVERED

Range improvement:Santos Dumont, Brazil: 1,315 to 1,730 nm ( + 32%)Toluca, Mexico: 3,075 to 3,185 nm (+ 4%)Key West, USA: 1,990 to 2,230 nm (+ 12%)London City, UK: 1,700 nm ( cleared to operate)

Interior ambience – pleated window shades

Available as of 1Q 2005

Connectivity

128 kbps wireless network powered by Inmarsat Swift64© satellite communication service, providing:

En route productivity enhancementIn-flight office – taking care of business

Upgradable to future available B-GAN service (up to 432 Kbps per channel)Available as of 2Q 2005

HSD - High Speed Data

Take-off and landing altitude expansion

Allowance to operate from runways located at high altitudes

Teterboro, NJ - Telluride, CO ( 1,640 nm)non-stop with 8 passengers on board

Opens access to high-altitude airportsspread around the world

Available as of 4Q/2005

9,500 ft

Embraerand theCorporate Aviation Market

Market Forecast - World

8,228 aircraft à US$ 130 billion in the next 10 years

Very Light

Entry

Light

Midlight

Midsize

Super Midsize

Ultra-Long Range

Global

Large

Very Light

Entry

Light

Midlight

Midsize

Super Midsize

Ultra-Long Range

Global

Large

6%

13%

11%

14%

13%

20%

12%

9%2%

1% 4%4%8%

10%

23%

22%

22%

6%

US$Units

Corporate Aviation Market Size

Source: AT Kearney and Embraer estimates

10.5

1.02.2

3.8

4.1

1.9

1.22.6

4.5

6.0

3.3

2004 2014

Airframe / OEM

Completion and Refurbishment

MRO

FBO

Aircraft ManagementCharter and

Fractional Ownership

US$ 23.4 bi

16.0

US$ 33.6 bi

(2004 US$ billions)

Embraer Competitive Factors

Strong position in the commercial aviation market

§ Enterprise expertise

§ Ability to identify market and product opportunities

§ Capable to develop differentiated products at competitive costs

§ Industrial efficiency

§ Project, manufacturing and support experience

§ Global presence

3 years of experience in the Corporate Aviation Market

Competitive Landscape

Mustang#Very light

Falcon 7X#G500G550

Global ExpressGlobal

Express XRS#

Ultra Long Range

2000EX900C

900EX900DX#

G300G350#

G400G450#

Challenger 604

Global 5000Large

Legacy50EX2000G200Hawker

Horizon#Citation XChallenger

300Super Midsize

Under studyG100G150#

Hawker 800XPSovereignLear 60Midsize

EncoreExcelXLS

Lear 45Lear 45XRMidlight

Hawker 400XP

CJ3Bravo

Lear 40Lear 40XR#Light

Premier ICJ1 / CJ1+ #

CJ2 / CJ2+ #Entry

Mustang#Very light

Falcon 7X#G500G550

Global ExpressGlobal

Express XRS#

Ultra Long Range

2000EX900C

900EX900DX#

G300G350#

G400G450#

Challenger 604

Global 5000Large

Legacy50EX2000G200Hawker

Horizon#Citation XChallenger

300Super Midsize

Under studyG100G150#

Hawker 800XPSovereignLear 60Midsize

EncoreExcelXLS

Lear 45Lear 45XRMidlight

Hawker 400XP

CJ3Bravo

Lear 40Lear 40XR#Light

Premier ICJ1 / CJ1+ #

CJ2 / CJ2+ #Entry

Bombardier Cessna Raytheon Gulfstream Dassault

Main areas of actuation

§ Product Strategy

§ Commercialization Strategy

§ Customer services Strategy

Thank You !