Caxias do Sul, November 9th, 2011.

Disclosure of 3Q11 Disclosure of 3Q11

ResultsResults

Disclosure of 3Q11 Disclosure of 3Q11

ResultsResultsCarlos Zignani - Investor Relations Director

Thiago A. Deiro - Investor Relations Manager

José A. Valiati - Controller and Chief Financial Director

Presentation:Presentation:Presentation:Presentation:

This presentation contains future information. Such information is not

simply historical facts, but reflects the desires and the expectations of the

Company’s leadership. The words anticipates, desires, hopes, forecasts,

intends, plans, predicts, projects, wishes and similar ones, intend to

identify affirmations that necessarily involve known and unknown risks.

Known risks include uncertainties that are not limited to the impact of the

competitiveness of the prices and services, market acceptance of services,

the Company’s service transitions and its competitors, the approval of

regulations, currency, fluctuation in the exchange rate, changes in the mix

of services offered, and other risks described in the reports of the

Company. This presentantion is updated until the present date. However,

Marcopolo is not obligated to update it with new information and/or future

events.

ISCLAIMER

3Q11 Highlights and Outlook for 20123Q11 Highlights and Outlook for 2012

Operating and Financial ResultsOperating and Financial Results

Stock MarketStock Market

UTLINE

• Brazilian Total Production: 9,922 units +12.0%

• Marcopolo’s Total Production: 8,982 units +24.3%

• Net Revenues: R$ 888.6 million +24.6%

• EBITDA: R$ 127.2 million +42.4%

• EBITDA Margin: 14.3%

• Net Profit: R$ 78.5 million +20.8%

• Improvement in Marcopolo’s shares liquidity

4

IGHLIGHTS 3Q11 x 3Q10

• Brazil

Market heated up with order backlog until the end of January/2012

2012 Municipal Elections – tendency to renewal of the urban fleet

Initial demand for BRTs

Tender for interstate and international lines concessions expected to happen in the 1H12

Euro 5 Emission Standards starting January, 2012

FINAME – PSI: valid until December 2011

Growth of the GDP, Income and Employment level

Possibility of the introduction of a new credit line called “Green Finame” supported by the BNDES

5

UTLOOK - 2012

• India

– TMML to diversify product portfolio – increasing production with focus on

results;

• Egypt

– GB Polo to diversify product portfolio introducing Marcopolo’s products;

• South Africa

– Stable level of production;

• Mexico

– Increasing production with upward bias;

• Colombia

– High level of production. Moderate growth in 2012;

• Argentina

– Company will maintain the growth pace due to high level of demand.6

UTLOOK - 2012

3Q11 Highlights and Outlook for 20123Q11 Highlights and Outlook for 2012

Operating and Financial ResultsOperating and Financial Results

Stock MarketStock Market

UTLINE

2009 2010 2011 E 3Q10 3Q11 9M10 9M11

41.7

46.3 46.0 45.6 45.5 45.5

2009 2010 3Q10 3Q11 9M10 9M11

Domestic Market

External Market

27,580

19,384

7,223

+9.5%

8,982

Marcopolo’s Market Share in Brazil

OTAL PRODUCTION (units) & MARKET SHARE (%)

30,200

Marcopolo’s Total Production

8

+24.3%

-0.4pp+4.6PP

20,23623,242

+14.9%

*E = expected

384.7

631.3

151.9195.0

468.9515.4

19.0% 21.3%

21.3% 21.9%

22.1% 21.3%

2009 2010 3Q10 3Q11 9M10 9M11

2009 2010 2011 E 3Q10 3Q11 9M10 9M11

2,964.5

2,023.8

713.3

+9.6%

884.82,120.3

+24.6%

3,250.0

Total Net Revenues

9

INANCIAL HIGHLIGHTS (R$ Million)

950.0

2,300.01,383.2

640.6

Gross Profit and Margin

+9.9%+64.1%

Domestic Market

External Market

2,079.7

888.6

2,420.2

+14.1%

+28.4%

*E = expected

177.4

398.3

89.3

127.2

300.1323.0

8.8% 13.4% 12.5% 14.3% 14.2% 13.3%

2009 2010 3Q10 3Q11 9M10 9M11

125.0

295.8

65.078.5

213.2230.6

6.2% 10.0% 9.1% 8.8% 10.1% 9.5%

2009 2010 3Q10 3Q11 9M10 9M11

EBITDA and Margin

10

Net Profit and Margin

+124.5%

+7.6%

+42.4%

+136.6%

+20.8%

+8.2%

INANCIAL HIGHLIGHTS (R$ Million)

18.4

23.3 23.4 23.1

2009 2010 9M10 9M11

729.9

955.9919.2

1,074.5

18.2%

40.0% 36.9% 34.1%

2009 2010 9M10 9M11

Net Equity & ROE

11

ROIC (%)

+31.0%+16.9%

-0.3pp

+4.9PP

INANCIAL HIGHLIGHTS (R$ Million)

113.6

81.5

70.061.2 63.1

2009 2010 2011E 9M10 9M11

2009 2010 9M10 9M11

Investments

12

Net Indebtedness

-14.1%

Net Debt (Industrial Segment)/LMT EBITDA

+9.5%709.6

508.4501.2

548.8

- 1.1x 0.02x

= Financial Segment = Industrial Segment

0.06x

+3.1%

-28.4%

*E = expected

INANCIAL HIGHLIGHTS (R$ Million)

13

3Q11 3Q10 Var. % 9M11 9M10 Var. %

Production - Units 8,982 7,223 24.3 23,242 20,236 14.9

Net Operating Revenues 888.6 713.3 24.6 2,420.2 2,120.3 14.1

Gross Profit 195.0 151.9 28.4 515.4 468.9 9.9

Financial Result Net (2.5) 20.6 (112.1) 42.2 49.5 (14.7)

Net Profit 78.5 65.0 20.8 230.6 213.2 8.2

EBITDA 127.2 89.3 42.4 323.0 300.1 7.6

Adjusted EBITDA 101.1 95.5 5.9 305.6 307.8 (0.7)

Net Fin. Liabilities - Industrial Segment 24.7 8.9 177.5 24.7 8.9 177.5

Total Assets 3,368.1 2,935.1 14.8 3,368.1 2,935.1 14.8

Net Equity 1,074.5 919.2 16.9 1,074.5 919.2 16.9

ONSOLIDATED FIGURES (R$ Million)

3Q11 Highlights and Outlook for 20123Q11 Highlights and Outlook for 2012

Operating and Financial ResultsOperating and Financial Results

Stock MarketStock Market

UTLINE

65.9%15.2%

9.1%6.1% 3.7%

Common Shares

As of October 31As of October 31stst, 2011., 2011. 15

HAREHOLDING DISTRIBUTION

Preferred Shares

16As of October 31As of October 31stst, 2011., 2011.

HAREHOLDING DISTRIBUTION

55.9%24.2%

7.7%

10.2% 1.1% 0.9%

9/ 30/ 2010 12/ 30/ 2010 3/ 30/ 2011 6/ 30/ 2011 9/ 30/ 2011

Marcopolo PN x Ibovespa - Base 100

POMO4: +29.9%

IBOV: -24.6%

R$ 5.31*

69,429 pts

R$ 6.90*

52,324 pts

17

TOCK PERFORMANCE

* Adjusted by 100% stock dividend approved on September 10th, 2010.

0

500

1000

1500

2000

2500

3000

3500

4000

-

2,0

4,0

6,0

8,0

10,0

12,0

14,0

Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11

Mark

et

Cap (

R$ M

illio

n)

Avera

ge D

aily

Volu

me (R

$ M

illio

n)

Average Daily Volume Market Cap

Marcopolo PN - POMO4

18

HARE LIQUIDITY & VALUATION

Carlos Zignani

Investor Relations Director

carlos.zignani@marcopolo.com.br

Tel: + 55 (54) 2101.4115

Thiago A. Deiro

Investor Relations Manager

thiago.deiro@marcopolo.com.br

Tel: + 55 (54) 2101.4660

www.marcopolo.com.br/irwww.marcopolo.com.br/ir

ri@marcopolo.com.brri@marcopolo.com.br

NVESTOR RELATIONS CONTACT