Caxias do Sul, November 9 th, 2011. Disclosure of 3Q11 Results Carlos Zignani- Investor Relations Director Thiago A. Deiro - Investor Relations Manager.

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Caxias do Sul, November 9 th, Disclosure of 3Q11 Results Carlos Zignani- Investor Relations Director Thiago A. Deiro - Investor Relations Manager José A. Valiati - Controller and Chief Financial Director 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 2012 Operating and Financial Results Stock Market UTLINE

Brazilian Total Production: 9,922 units+12.0% Marcopolo’s Total Production: 8,982 units+24.3% Net Revenues: R$ million +24.6% EBITDA:R$ 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/ 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

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

3Q11 Highlights and Outlook for 2012 Operating and Financial Results Stock Market UTLINE

Domestic Market External Market 27,580 19,384 7, % 8,982 Marcopolo’s Market Share in Brazil OTAL PRODUCTION (units) & MARKET SHARE (%) 30,200 Marcopolo’s Total Production % -0.4pp +4.6PP 20,236 23, % *E = expected

2, , % , % 3,250.0 Total Net Revenues 9 INANCIAL HIGHLIGHTS (R$ Million) ,300.01, Gross Profit and Margin +9.9% +64.1% Domestic Market External Market 2, , % +28.4% *E = expected

EBITDA and Margin 10 Net Profit and Margin % +7.6% +42.4% % +20.8% +8.2% INANCIAL HIGHLIGHTS (R$ Million)

Net Equity & ROE 11 ROIC (%) +31.0% +16.9% -0.3pp +4.9PP INANCIAL HIGHLIGHTS (R$ Million)

Investments 12 Net Indebtedness -14.1% Net Debt (Industrial Segment)/LMT EBITDA +9.5% x 0.02x = Financial Segment = Industrial Segment 0.06x +3.1% -28.4% *E = expected INANCIAL HIGHLIGHTS (R$ Million)

13 ONSOLIDATED FIGURES (R$ Million)

3Q11 Highlights and Outlook for 2012 Operating and Financial Results Stock Market UTLINE

Common Shares As of October 31 st, HAREHOLDING DISTRIBUTION

Preferred Shares 16 As of October 31 st, HAREHOLDING DISTRIBUTION

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 10 th, 2010.

Marcopolo PN - POMO4 18 HARE LIQUIDITY & VALUATION

Carlos Zignani Investor Relations Director Tel: + 55 (54) Thiago A. Deiro Investor Relations Manager Tel: + 55 (54) NVESTOR RELATIONS CONTACT