Embraer S.A.

Good morning ladies and gentlemen, and thanks for standing by. As a reminder, this conference is being recorded. Its broadcast is intended exclusively for the participants of this event, and may not be reproduced or retransmitted without the express authorization of Embraer. This conference call will be conducted in English, but please let me say a short announcement for Portuguese speakers. Essa conferência será realizada originalmente em inglês, Para ouvir a tradução em português, primeiro selecione o idioma no botão Interpretação e segundo desative o áudio original na plataforma Zoom. My name is Gui Paiva and I'm the Head of Investor Relations, M&A and Venture Capital for Embraer. Welcome to Embraer's first quarter 2026 earnings conference call. The numbers in this presentation contain non-GAAP financial information. to help investors reconcile EAVS financial information in GAAP standards to Embraer's IFRS. We remind you EAVS results were discussed at the company's conference call earlier this week. Before we begin, a little notice to everyone. This presentation may contain forward-looking statements which involve risks and uncertainties as detailed in the disclaimer available in the slides and in the documents filed with the Brazilian Securities Commission, CDM. At this time, all participants are in listen-only mode. Instructions for the Q&A session will be provided later. Participants on today's conference call are Francisco Gomes Neto, President and CEO of Embraer, Felipe Santana, Chief Financial Officer, Thais Moraes, Corporate Communications Director, and myself. This conference call consists of three parts. First, we will present the results for the first quarter of 2026. Second, we will host a Q&A session exclusively for investors. And finally, we will hold a dedicated Q&A session for the press. It is my pleasure now to turn the conference call to our President and CEO, Francisco Gomes Neto. Please go ahead, Francisco.

Thank you, Gui. Good morning and good afternoon to everyone. It is a pleasure to be here with you to share Embraer's first quarter 2026 results. We achieved the strongest first quarter revenue in our history. The highest aircraft deliveries in a decade. In another all-time record backlog. We continue to see tangible progress in production leveling and greater stability across our assembly lines. As a side note, Q2 is up for a great start. Shout out to the UAE, who just signed a purchase agreement for 10 C390 aircraft, plus 10 options. The second biggest order after the Brazilian Air Force. This gives us confidence, not only to delivery on our 2026 guidance, but also to pursue our mid-term ambition of double-digit billion revenues and double-digit EBIT margins. Turning to the highlights of the quarter. Commercial Aviation, order of 18 E195E2 jets from Finnair, another very important customer in Europe. Resultive Aviation, best first quarter of the decade, driven by strong demand in the launch of the new Praetor 500E and 600E in the mid and super-mid segments. Defense and security, double-digit revenue growth. Momentum for K-59 and A-29 platforms, with a new partnership with Northrop Grumman for the U.S. and gas program. Service and support, expanding recurring revenues through fresh contracts. including Air North for E-170, E-190 fleets, and Hungary for its C-390 fleets. 44 aircraft delivered last quarter, 10 commercial jets, 29 executive jets, and 5 defense. Year-on-year growth, nearly 50% increase overall, with commercial aviation up 43% and executive aviation up 26%. Commercial aviation guidance. 10 commercial jets delivered equal 12% of guidance midpoint, one point above the five-year average. Executive aviation guidance, 29 jets delivered equal 18% of guidance midpoint and seven points above the five-year average. Company backlog reached 32 billion in the quarter, up 22% year-on-year. A new historical record for the sixth consecutive time. Commercial aviation backlog reached 15 billion, up 50% year-on-year, with an impressive three book-to-bill ratio over the past 12 months. Other segments backlog, executive aviation, defense and security, and service and support totaled 17.1 billion, up with single digits year-on-year, with the book-to-bill ratios at or slightly above one. Approximately 20 billion in options, which could expand the backlog beyond 50 billion as exercised over time. Now, I'd like to share a brief update on EV's steady progress. The past campaign is transitioning towards horizontal flights in the second quarter, with our prototype having already completed more than 54 flights. in a total of 2 hours and 17 minutes of flight time year-to-date. With that, I will now turn the call over to Filipe to walk you through our financial results. Filipe, over to you.

Thank you, Francisco. Good morning and good afternoon, everyone. Let me start with the results by business unit. All comparisons are year-over-year, unless otherwise noted. Slide 9. commercial aviation, and executive aviation. Starting with commercial aviation, revenues were up 45% to $293 million, driven by higher deliveries and pricing. Adjusted EBIT was negative $28 million, with a negative 9.7% of margin, due to client mix, logistics costs, and the absence of suppliers' credits recorded last year. In executive aviation, revenues increased nearly 30% to $418 million, reflecting strong demand and favorable product mix. Adjusted EBIT reached $25 million, with a positive 6% of margin. The declining margin was mainly due to U.S. import tariffs, client mix, and higher selling expenses. Slide 10, Defense Security and Services Support. In defense securities, revenues increased 62%, reaching $227 million. Adjusted EBIT was $38 million, with a positive 17% of margin, driven by higher KC3 night revenue recognition, increased 829 production, and positive one-time items. In service support, revenues reached $490 million, Adjusted EBIT totaled $70 million with a positive 14.3% of margin supported by materials and more than offsetting the impact of U.S. import tariffs. Slide 12, Net Revenues. At the consolidated level, net revenues increased 31% to $1.4 billion in the first quarter, representing 17% of guidance midpoint, two points above the five-year historical average. From a business mix perspective, services accounted for 34% of revenues, commercial and executive aviation around 20% each, and defense, 16%. Slide 13, adjusted EBITDA and EBIT. Adjusted EBITDA was $144 million, with 9.9% of margin, a small increase compared to a year ago. Now, adjusted EBIT was $1. $94 million with a 6.5% of margin, one point higher year-over-year, and 7.7 points above the five-year average. Slide 14, free cash flow and investments. Adidas free cash flow, excluding ETH, was negative for $147 million in the quarter. This reflects our preparation for higher numbers of aircraft deliveries in the coming quarters. Investments totaled $99 million during the quarter, compared to 8 million last year, including 38 million in CAPEX, 36 million in tangible additions, 14 million in the pool program, and 11 million in research. Slide 15, adjusted net income. Adjusted net income was 28 million in the last quarter, a decrease of $22 million. The adjusted net income margin was positive 1.9%. Down 2.6 points, earnings per ADS improved from negative 1.0 in 2022 to 1.9 in 2025, and now stands at 1.7 on the last 12-month basis. Slide 16, financial position. Financial average stood at 0.6 times that that would be done if we scored even, or 0.1 times higher than last year, driven by a lower cash position. Our average debt maturity is still at a comfortable 8.7 years, and its average cost at 5.6% in U.S. dollars. Shareholder remuneration. For fiscal year 2025, we distributed 25% of net income, declaring a total of 524.90 million Brazilian reais in shareholder remuneration, through interest on equity and dividends. This corresponds to 0.72 Brazilian cents per share and a dividend yield of approximately 0.9%. With that, I will hand it back to Francisco for his final remarks. Thank you.