by Embraer in its sole discretion (such time and date, as it may be extended or earlier terminated, the Capped Early Tender Date) will be eligible to receive the Capped Total
Consideration for the Capped Notes. Holders of Capped Notes who validly tender their Capped Notes after the Capped Early Tender Date but at or prior to the Capped Expiration Date in the manner described in the Offer to Purchase will not be eligible
to receive the Capped Early Tender Payment and will, therefore, only be eligible to receive the Capped Tender Consideration. Validly tendered Capped Notes may be validly withdrawn at any time prior to the Capped Early Tender Date but not thereafter,
except as the Capped Early Tender Date may extended or earlier terminated by Embraer in its sole discretion.
The Any and All Total
Consideration and the Capped Total Consideration, as applicable, payable per US$1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the Offers, will be determined in the manner
described in the Offer to Purchase by reference to the applicable Fixed Spread for such Notes specified in the tables above plus the applicable yield based on the bid-side price of the applicable U.S.
Treasury Reference Security specified in the tables above at 11:00 a.m., New York City time, on the Any and All Price Determination Date and the Capped Price Determination Date, as applicable (each as defined in the Offer to Purchase). The
Capped Tender Consideration equals the Capped Total Consideration, minus the Capped Early Tender Payment.
If the aggregate
principal amount of the Capped Notes validly tendered (and not validly withdrawn) at or prior to the Capped Early Tender Date or the Capped Expiration Date exceeds the Maximum Principal Amount, a prorated amount of the Capped Notes validly tendered
(and not validly withdrawn) by holders of the Capped Notes at or prior to the Capped Early Tender Date or the Capped Expiration Date, as the case may be, will be accepted for purchase.
Settlement
Settlement of the Any and All Offer is
expected to occur on the third business day following the Any and All Expiration Date, unless the Any and All Expiration Date is extended or earlier terminated by the Embraer in its sole discretion (the Any and All Settlement
Date). Tendered Any and All Notes may be withdrawn at any time at or prior to the Any and All Expiration Date.
Holders of the Capped Notes
that have validly tendered and not validly withdrawn their Capped Notes at or prior to the Capped Early Tender Date and whose Capped Notes are accepted for purchase shall, if Embraer so elects, receive the Capped Total Consideration on the early
settlement date, which date is expected to occur two business days following the Capped Early Tender Date (the Capped Early Settlement Date). If Embraer does not, in its sole discretion, elect to pay for such tendered Capped Notes
prior to the Capped Expiration Date, then the Early Settlement Date will be the same as the final settlement date, which date is expected to occur two business days following the Capped Expiration Date (the Capped Final Settlement
Date and, together with the Early Settlement Date and the Any and All Settlement Date, each a Settlement Date).
Conditions to Offers
Embraers obligation to
purchase Notes in the Offers is conditioned on the satisfaction or waiver of a number of conditions described in the Offer to Purchase, including completion by Embraer Finance of a new debt financing on satisfactory terms and conditions (the
Debt Financing). The Debt Financing will comprise Embraer Finances issuance of new notes to be guaranteed by Embraer. There can be no assurance that Embraer Finance will complete timely, or at all, the Debt Financing or
that the financing condition or any other condition will be satisfied.
Neither of the Offers is conditioned upon the tender of any minimum principal
amount of Notes of such series or of the other series. However, the Capped Offer is subject to the Maximum Principal Amount. Embraer Finance reserves the right, but is under no obligation, to increase or decrease the Maximum Principal Amount at any
time without reinstating withdrawal rights or extending the Capped Early Tender Date, subject to compliance with applicable law. In the event of a termination of an Offer, neither the applicable consideration nor Accrued Interest will be paid or
become payable to the holders of the applicable series of Notes, and the Notes tendered pursuant to such Offer will be promptly returned to the tendering holders. Embraer has the right, in its sole discretion, to not to accept any tenders of Notes
for any reason and to amend or terminate the Offers at any time.
Subsequent Redemptions or Repurchases
From time to time after each applicable Expiration Date or termination or withdrawal of any of the Offers, Embraer or any of its affiliates may acquire any
Notes that are not purchased pursuant to the Offers through open market purchases, privately-negotiated transactions, tender offers, exchange offers, redemptions or