São Paulo, Brazil, March 19, 2021 - (B3: EMBR3, NYSE: ERJ). The Companys operating and financial information is presented,
except where otherwise stated, on a consolidated basis in United States dollars (US$) in accordance with IFRS. The financial data presented in this document as of and for the quarters ended December 31, 2020 (4Q20), September 30, 2020 (3Q20) and
December 31, 2019 (4Q19), are derived from the unaudited financial statements, except annual financial data and where otherwise stated. REVENUES and gross margin In 4Q20 Embraer delivered 28 commercial jets and 43 executive jets (23 light jets and
20 large jets), for a total of 44 commercial and 86 executive aircraft (56 light jets and 30 large jets) delivered in 2020. As has been previously mentioned, the Companys aircraft deliveries in 2020 were negatively impacted principally by the
Covid-19 pandemic that continues to affect the world, especially commercial air travel. Annual commercial jet deliveries declined 51% in 2020 as compared to the 89 jet deliveries the Company registered in 2019, while executive jet deliveries were
less impacted, falling 21% relative to the 2019 deliveries of 109 jets (62 light jets and 47 large jets). Embraer reported 4Q20 revenues of US$ 1,841.4 million, which represented a year-over-year decline of 11.7% compared to 4Q19, with revenue
declines during the period in Commercial Aviation, Executive Jets, and Services & Support, only partially offset by 68.1% year-over-year growth in the Defense & Security segment. For the full year, the Company reported 2020 revenues of US$
3,771.1 million as compared to US$ 5,462.6 million in revenues reported in 2019, representing a year-over-year reduction of 31.0%, due to pandemic-driven declines in commercial and executive jet deliveries as well as lower services & support
activity stemming from reduced commercial and executive aircraft traffic in 2020, in addition to a revenue decline of 13.5% in the Defense & Security segment. That said, the Commercial Aviation segment and its related commercial aviation
services in the Services & Support segment accounted for more than 80% of the 2020 revenue decline. Reported 4Q20 consolidated gross margin of 12.1% declined relative to the 13.4% reported in 4Q19, with the year-over-year decline concentrated in
the Commercial Aviation and Services & Support segments. Gross margin in Commercial Aviation was negatively impacted by lower deliveries impact on fixed costs and US$ 14.9 million in expenses for excess idle capacity related to the
Covid-19 pandemic. The Services & Support segment had a negative impact of US$ 58.0 million in gross profit recognized in 4Q20 related to the sale of two used Lineage 1000 airframes. For the full year, Embraer reported gross margin of 12.7% in
2020 vs. the 14.6% margin reported in 2019, with the Commercial Aviation and Services & Support segments reporting declines in gross margin for the year, only partially offset by higher gross margins in Executive Jets and Defense & Security.
EBIT AND ADJUSTED EBIT EBIT and EBIT margin as reported in 4Q20 were US$ 103.6 million and 5.6%, respectively, up from 4Q19s reported EBIT of US$ (67.6) million and reported EBIT margin of -3.2%. For the full year, EBIT as reported in 2020 was
US$ (323.4) million as compared to US$ (77.0) million in 2019, yielding as-reported EBIT margins of -8.6% in 2020 and -1.4% in 2019. The quarterly and annual operating results include the impact of a number of special items in both the current and
prior year periods. The Companys 4Q20 results include the positive impact of total net special items of US$ 27.0 million, as follows: 1) restructuring expenses of US$ 15.2 million related to the voluntary and non-voluntary dismissal programs
announced in September, 2) reversals of some provisions for credit losses with commercial airline customers of US$ 9.9 million, 3) a positive valuation mark to market of US$ 11.6 million on Embraers stake in Republic Airways shares, 4)
impairment of US$ 3.8 million in the Defense & Security segment, 5) impairment of US$ 7.0 million in the Executive Jets segment, and 6) reversal of previous impairment in the Commercial Aviation business which positively impacted results by US$
31.5 million. In 4Q19s reported results, there was a special item of US$ 71.6 million recognized related to impairment in the Executive Jets segment. For fiscal year 2020, the Companys reported results include the negative impact of
total net special items of US$ 223.0 million, as follows: 1) restructuring expenses of US$ 69.2 million related to voluntary and non-voluntary dismissal programs, 2) US$ 52.6 million of additional negative provisions for expected credit losses with
commercial airline customers in the context of the Covid-19 pandemic, 3) US$ 4.1 million in negative fair value changes on the