#1Emerson Q3 Earnings Conference Call August 9, 2022 EMERSON IM#2Safe Harbor Statement Statements in this presentation and our commentary and responses to questions that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the Company's ability to successfully complete on the terms and conditions contemplated, and the financial impact of, the proposed sale of its InSinkErator food waste disposal business, the financial impact of the Aspen Tech acquisition, the scope, duration and ultimate impacts of the COVID-19 pandemic and the Russia-Ukraine conflict, as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, inflation, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. The outlook contained herein represents the Company's expectation for its consolidated results. Non-GAAP Measures In this call we will discuss some non-GAAP measures (denoted with *) in talking about our company's performance, and the reconciliation of those measures to the most comparable GAAP measures is contained within this presentation or available at our website www.Emerson.com under Investors. EMERSON 2#3Recent Portfolio Announcements ACQUISITIONS Aspen Tech Transaction Closed May 16 micromine Daspentech Aspen Tech Announces Agreement to Acquire End-to-End Software Leader for Mining Industry fluxa Emerson Acquires Life Sciences Leader in Process Knowledge Management DIVESTITURES InSinkErator Agreement to Sell Announced August 8 POSER in sink erator THERM-O-DISC™ Sale Completed May 31 3#4Net Zero Targets Net zero GHG emissions (Scopes 1, 2 and 3) by 2045 with a science-based aligned approach Net zero operations Scopes 1 and 2 GHG emissions and 25% reduction of Scope 3 GHG emissions by 2030 compared to 2021 baseline 4#5Recent Project Wins Highlight Emerson's Leadership in the Energy Transition Emerson Chosen by Mitsubishi for Emerson Software and World's Largest Hydrogen Production and Storage Facility Technologies Chosen to Automate Fintoil Biorefinery Emerson to Automate Albioma Coal-Fired Power Plant Transformation to Biomass Feedstock Facility will produce 100 tons of green hydrogen per day with storage for 300 GWh of energy 400,000-ton reduction in carbon emissions (~1% of Finland's total emissions) 640,000-ton reduction in carbon emissions (84% reduction from current levels) 5#6Investments Show Emerson's Continued Commitment to Regionalization, Factory Automation and Operational Excellence EMER N EMERSON. TM EMERSON Emerson Integrated Manfacturing Complex Mahindra Wild City Officially Inagurated On February 1, 2022 Ram Krishn Executive Vice Pre ce President & Chief Operating Office Mark Bulanda Executive President Emerson Electric Co Emerson Automation Solutions EMERSON Emerson Opens New Professional Tools Facility in Ash Flat, Arkansas Emerson Inaugurates New Integrated Manufacturing Facility in Chennai, India Emerson Introduces New Production Facility in Saltillo, Mexico CO 6#7Q3 Results EMERSON IM#82022 Q3 Significant Items ASPENTECH TRANSACTION On May 16, 2022, Emerson completed its transaction with Aspen Tech. In exchange for 55% ownership of the new Aspen Tech, Emerson contributed two business - OSI and Geological Simulation Software (now Subsurface Science and Engineering, or SSE) – plus $6B of cash to Aspen Tech stockholders. Previously reported in Automation Solutions, OSI and SSE have been reclassified to a newly created AspenTech segment for Q3 and all previous quarters. These businesses are not included in all Automation Solutions metrics including three-month trailing underlying orders, net sales, underlying sales*, segment EBIT, segment adjusted EBITA* and backlog. Additional reclassification details can be found in the Appendix of this presentation. The new Aspen Tech segment includes full quarter results for OSI and SSE, and heritage AspenTech since May 16, 2022. THERM-O-DISC DIVESTITURE On May 31, 2022, Emerson completed the divestiture of Therm-O-Disc which was previously reported in Commercial & Residential Solutions (Climate Technologies), Therm-O-Disc has been excluded from three-month trailing underlying orders, underlying sales* and backlog calculations for Emerson and Commercial & Residential Solutions. RUSSIA EXIT As part of its previously announced Russia exit, Emerson is including the following items in the third quarter: Pre-tax loss of $162M ($174M after-tax, $0.29 per share) - $32M loss in operating profit and $130M reported in other deductions . $132M of debooking in Automation Solutions reflected in backlog 8#92022 Q3 Performance Summary Sales $5.0B $4.7B Adjusted Segment EBITA* 21.3% 23.0% 7% Underlying* 2021 2022 170 bps 2021 2022 Free Cash Flow* $1.0B Adjusted EPS* $1.38 $1.19 $0.6B 36% 2021 2022 $100M impact from China lockdowns; $80M impact from electronic component availability • Continued strong demand and price realization AUTOMATION SOLUTIONS Favorably impacted by portfolio actions; AspenTech segment contributed +150 bps Price less net material inflation improving, especially within Climate Technologies but still dilutive Higher working capital from increased sales and continued supply chain constraints • Free cash flow conversion*: 90% - excluding discrete one-time items COMMERCIAL & RESIDENTIAL SOLUTIONS • • +16% 2021 2022 Adjusted EPS* of $1.38 includes $0.08 of net Aspen Tech impact $2,872M Sales 4% underlying* Adjusted EBITA* 21.0% 70 bps Growth led by process markets and double-digit growth in Americas China COVID-19 lockdowns and continued electronic component availability issues impacting global sales and profitability Profitability leverage and cost reductions partially offset by inflationary margin pressure Backlog $6.2B, up $100M versus prior quarter, despite a $132M debooking in Russia $1,902M Sales 13% underlying* ASPENTECH Adjusted EBITA* 22.0% Sales $239M Adjusted EBITA* 53.8% 50 bps Strong growth across residential, commercial and industrial • All world areas up - China down due to lockdowns • Price contributed 12 points of growth Climate Technologies price less net material inflation improving leading to stronger incrementals Backlog* $1.3B, flat versus prior quarter Integration progressing well Early synergy project wins in renewable diesel and recycled plastics Strong sales and profitability from heritage Aspen Tech business driven by customer investments in sustainability and operational optimization • Aspen Tech's fiscal Q4 (Emerson fiscal Q3) is seasonally highest sales quarter Note: Underlying sales* and backlog* does not include heritage Aspen Tech, Therm-O-Disc (previously reported in Commercial & Residential Solutions) and Emerson's businesses contributed to Aspen Tech (previously reported in Automation Solutions); Automation Solutions adjusted EBITA* excludes Emerson's businesses contributed to Aspen Tech; AspenTech segment includes full quarter of Emerson's businesses contributed to AspenTech and heritage AspenTech starting May 16 9#102021 Q3 to 2022 Q3 Adjusted EPS* Bridge $1.19 2021 Adjusted EPS* $0.09 $0.02 Operations Stock Comp $0.08 Share Repurchase $0.02 Tax ($0.03) FX ($0.02) Other ($0.03) $0.08 Operations $0.09 - 55% of Net Aspen Tech Earnings Interest Expense on $3B of Debt to Fund Transaction ($0.01) Non-Operating and Balance Sheet $0.02) Operations $0.09 AspenTech $0.08 $1.38 2022 Adjusted EPS* +16% YoY 10#11Supply Chain Challenges Continue With Electronics and China Lockdowns Affecting the Quarter China Lockdowns May Expectations No operation in April Re-opening expected to begin in middle of May Full operation in late May Q3 Actual Emerson elected for employees to stay home during lockdowns – no forced closed-loop operations or extended overnight stays Re-opening began in late May Full operation in early June $100M sales impact 0 0 0 0 0 0 Electronic Component Availability May Expectations Stabilization at elevated lead times Continued inflation and elevated spot prices Q3 Actual Stabilization at elevated lead times Increased de-commits, continued inflation and elevated spot prices China lockdowns contributed to further availability issues. $80M sales impact 0 0 0 0 0 0 ☐ ☐ ☐ ☐ ☐ ☐ 11#12Full Year 2022 Outlook EMERSON IM#13Emerson Trailing Three-Month Underlying Orders Versus Prior Year APR MAY JUN Automation Solutions 16% 13% 13% Commercial & Residential Solutions 2% 3% 60% EMERSON 11% 9% 5% 10% 55% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% (5%) (10%) (15%) (20%) (25%) Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Note: Excludes heritage AspenTech, Therm-O-Disc (previously reported in Commercial & Residential Solutions) and Emerson's businesses contributed to AspenTech (previously reported in Automation Solutions) 13#142022 Guidance May 2022 Guidance 8% - 10% August 2022 Guidance 7% - 8% ENVIRONMENT / KEY ASSUMPTIONS Net Sales Growth Acquisitions Divestitures ~0 pts 1-2 pts ~0 pts (~1 pt) FX (~1 pt) (2-3 pts) Underlying Sales Growth* 9% -11% Automation Solutions 7% -9% Commercial & Residential Solutions 12% -14% Restructuring Actions ~$150M ~$150M Tax Rate ~22% ~22% Operating Cash Flow Capital Spend Free Cash Flow* Dividend Share Repurchase GAAP EPS -$3.6B -$3.0B -$600M ~$525M ~$3.0B -$2.5B ~$1.2B ~$1.2B $250M - $500M ~$500M Adjusted EPS* $4.77 - $4.92 $4.95 - $5.10 $5.25 - $5.35 $5.05 - $5.15 9% - 10% 6% -7% 13% -14% Order strength and backlog support Q4 growth Supply chain constraints persist; electronic component availability remains stable but challenging de-commits expected to reduce in Q4 - Inflationary pressure continues; incremental price programs to offset Remain vigilant on China – not anticipating further COVID-19 related lockdowns or constraints in Q4 Note: Underlying sales growth* excludes heritage AspenTech, Therm-O-Disc (previously reported in Commercial & Residential Solutions) and Emerson's businesses contributed to AspenTech (previously reported in Automation Solutions) 14#152022 Guidance Bridges GAAP EPS BRIDGE May Guide GAAP EPS Lowering Top End of Guide - ADJUSTED EPS* BRIDGE $4.77 - $4.92 May Guide Adjusted EPS* ($0.05) Operations and Therm-O-Disc Operations Lowering Top End of Guide Operations and Therm-O-Disc Operations Subtotal Subtotal $4.77 - $4.87 (Operations Impact) (Excluding AspenTech) Therm-O-Disc Divestiture Gain $0.72 Russia Write-Off Subtotal (Excluding AspenTech) Aspen Tech Operations Aspen Tech Net Intangibles Amortization Related to Transaction August Guide GAAP EPS ($0.29) Aspen Tech Operations Interest Expense on $3B of Debt- No Longer Adjusted As of May 16 $5.20 - $5.30 August Guide Adjusted EPS* ~$0.13 ~($0.08) $5.25-$5.35 $4.95 - $5.10 ($0.05) $4.95 - $5.05 ~$0.13 ($0.03) $5.05 - $5.15 15#162022 GAAP EPS to Adjusted EPS* Guidance GAAP EPS Restructuring / Related Costs Amortization of Intangibles $5.25 - $5.35 ~$0.20 ~$0.47 Gain on Subordinated Interest ($0.60) Therm-O-Disc Divestiture ($0.72) Russia Exit Aspen Tech Transaction Costs and Interest Expense¹ Adjusted EPS* 1 Interest expense adjustment to EPS is applicable to the $3B of debt issued early to fund the transaction through May 15, 2022 $0.29 $0.16 $5.05 - $5.15 16#17Q&A EMERSON IM#18Appendix EMERSON IM#192022 Q3 P&L Summary (MILLIONS, EXCEPT EPS) Sales 2021 2022 Change $4,697 $5,005 6.6% Gross profit % of sales SG&A expense % of sales $1,982 $2,097 42.2% 41.9% (30 bps) $1,073 $1,052 22.9% 21.0% (190 bps) EBIT* $821 $1,245 % of sales* 17.5% 24.9% 740 bps Adjusted EBITA* $942 $1,143 % of sales* 20.1% 22.8% 270 bps Tax rate 19.2% 20.3% Shares 602 596 Adjusted EPS* $1.19 $1.38 16% EMERSON 19#202022 Q3 Earnings & Cash Flow (MILLIONS) Adjusted segment EBITA* % of sales* Stock compensation 2021 2022 Change $1,000 $1,151 15% 21.3% 23.0% 170 bps ($66) ($16) $50 Corporate pension and OPEB $24 $25 $1 Adjusted corporate and other* ($16) ($17) ($1) Adjusted interest expense, net* ($37) ($41) ($4) Adjusted pretax earnings* $905 $1,102 22% % of sales* 19.3% 22.0% 270 bps Operating cash flow $1,105 $740 (33%) Capital expenditures ($128) ($110) Free cash flow* $977 $630 (36%) Trade working capital $2,910 $3,314 % of sales 15.5% 17.1% EMERSON 20#212022 Q3 World Area Underlying Sales Growth Americas Europe Asia, Middle East & Africa China Commercial & Automation Residential Solutions Solutions Emerson 12% 16% 14% (2%) 6% 0% (3%) 5% (1%) (2%) (18%) (6%) 4% 13% 7% Note: Excludes heritage AspenTech, Therm-O-Disc (previously reported in Commercial & Residential Solutions) and Emerson's businesses contributed to AspenTech (previously reported in Automation Solutions) EMERSON 21#22Segment Details - Reclassified Financials Following Emerson's transaction with AspenTech, Emerson contributed two software businesses (OSI and Subsurface Science and Engineering, or SSE) to AspenTech. These businesses, previously reported in Automation Solutions, have been reclassified to the Aspen Tech segment for the current quarter and all history. The below tables provide details on the reclassification. The information provided below, which has been reclassified to conform to the current presentation, does not represent a restatement of previously issued financial statements and should be read in conjunction with the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Sales (M) Q1 Q2 2021 Q3 2022 Q4 Fiscal Year Q1 Q2 Q3 Automation Solutions Aspen Tech $2,619 $2,708 $2,865 $3,100 $11,292 $2,725 $2,853 $2,872 $73 $85 $82 $79 $319 $82 $84 $239 OSI/SSE $73 $85 $82 $79 $319 $82 $84 $66 Heritage Aspen Tech $173 EBIT (M) 2021 2022 Q1 Q2 Q3 Q4 Fiscal Year Q1 Q2 Q3 Automation Solutions $368 $467 $519 $601 $1,955 $528 $560 $530 Aspen Tech ($7) OSI/SSE ($7) Heritage Aspen Tech 12 1 $4 $2 ($6) ($7) ($2) ($4) $57 $4 $2 ($6) ($7) ($2) ($4) ($21) $78 EBIT Margin 2021 2022 Q1 Q2 Q3 Q4 Fiscal Year Q1 Q2 Q3 Automation Solutions 14.1% 17.2% 18.1% 19.4% 17.3% 19.4% 19.6% 18.5% Aspen Tech (10.2%) 4.8% 2.2% (7.5%) (2.3%) (2.3%) (5.0%) 23.7% OSI/SSE (10.2%) 4.8% 2.0% (7.5%) (2.3%) (2.3%) (5.0%) (31.8%) 45.1% Heritage Aspen Tech 22 Note: Heritage Aspen Tech only included as of May 16, 2022#23Segment Details - Reclassified Financials Following Emerson's transaction with AspenTech, Emerson contributed two software businesses (OSI and Subsurface Science and Engineering, or SSE) to AspenTech. These businesses, previously reported in Automation Solutions, have been reclassified to the Aspen Tech segment for the current quarter and all history. The below tables provide details on the reclassification. The information provided below, which has been reclassified to conform to the current presentation, does not represent a restatement of previously issued financial statements and should be read in conjunction with the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Amortization of Intangibles (M) Automation Solutions Aspen Tech OSI/SSE Heritage Aspen Tech Q1 Q2 2021 Q3 2022 $46 $46 $44 $22 $23 $22 ៩ ទ៩ Fiscal Year Q1 Q2 Q3 $50 $186 $43 $41 $41 $22 $89 $22 $23 $71 $22 $23 $22 $22 $89 $22 $23 $22 $49 Restructuring & Related 2021 2022 Costs (M) Q1 Q2 Q3 Automation Solutions $60 $14 $20 Aspen Tech $4 --- OSI/SSE $4 ($2) ($2) Heritage Aspen Tech $g | } } Q4 Fiscal Year Q1 Q2 Q3 $52 $146 $12 $11 $31 $2 --- $1 $2 $1 Note: Heritage AspenTech only included as of May 16, 2022 23#24Segment Details - Reclassified Financials Following Emerson's transaction with AspenTech, Emerson contributed two software businesses (OSI and Subsurface Science and Engineering, or SSE) to AspenTech. These businesses, previously reported in Automation Solutions, have been reclassified to the Aspen Tech segment for the current quarter and all history. The below tables provide details on the reclassification. The information provided below, which has been reclassified to conform to the current presentation, does not represent a restatement of previously issued financial statements and should be read in conjunction with the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Adjusted EBITA* (M) Automation Solutions Aspen Tech OSI/SSE Heritage Aspen Tech Q1 Q2 2021 Q3 2022 Q4 Fiscal Year Q1 Q2 Q3 $474 $527 $583 $703 $2,287 $583 $612 $602 $19 $27 $22 $16 $84 $20 $19 $129 $19 $27 $22 $16 $84 $20 $19 $1 $128 Adjusted EBITA Margin* 2021 2022 Q1 Q2 Q3 Q4 Fiscal Year Q1 Q2 Q3 Automation Solutions Aspen Tech 18.1% 19.4% 20.3% 22.7% 20.3% 21.3% 21.5% 21.0% 25.7% 31.2% 26.7% 20.8% 26.2% 24.9% 21.5% 53.8% OSI/SSE 25.7% 31.2% 26.7% 20.8% 26.2% 24.9% 21.5% Heritage Aspen Tech 1.5% 74.0% Note: Heritage AspenTech only included as of May 16, 2022 24#25AspenTech Contribution to Emerson 2022 Q3 Adjusted EBITA* The below illustrates how Aspen Tech reported financials flow into Emerson. Please note certain items are captured under Emerson corporate. AspenTech Reported Financials (MILLIONS) Sales Quarter Results $239 $57 (MILLIONS) AspenTech sales Emerson Reported Aspen Tech Segment Quarter Results $239 AspenTech segment earnings (EBIT) $57 Restructuring $1 $71 $15 $1 Amortization of intangibles Adjusted EBITA* % of sales Net income Income taxes ($10) Income before income taxes $47 Interest income ($4) Stock compensation Transactions costs Other ($2) Segment EBIT $57 Emerson Corporate (MILLIONS) Interest income Stock compensation Transactions costs Other $129 53.8% Quarter Results ($4) $15 $1 ($2) 25#26AspenTech Contribution to Emerson 2022 Q3 GAAP EPS The below illustrates how Aspen Tech reported financials flow into overall Emerson EPS. AspenTech Reported Financials Emerson EPS Contribution BEFORE TRANSACTION April 1, 2022 - May 15, 2022 (OSI / SSE 100% Contribution) (MILLIONS, EXCEPT EPS) Sales Net earnings Shares Diluted EPS (MILLIONS) Sales Net income Quarter Results Results $33 ($7) 596 ($0.01) $239 $57 AFTER TRANSACTION May 16, 2022 - June 30, 2022 (55% Contribution of Entire Aspen Tech segment) (MILLIONS, EXCEPT EPS) Sales Net earnings Non-controlling interest Net earnings common stockholders Shares Diluted EPS Results $206 $64 ($29) $35 596 $0.06 26#27AspenTech Contribution to Emerson 2022 Q3 Adjusted EPS* The below illustrates how Aspen Tech reported financials flow into overall Emerson adjusted EPS*. BEFORE TRANSACTION April 1, 2022 - May 15, 2022 (OSI / SSE 100% Contribution) GAAP EPS Amortization of intangibles Adjusted EPS* AFTER TRANSACTION May 16, 2022 - June 30, 2022 (55% Contribution of Entire Aspen Tech segment) Results ($0.01) GAAP EPS $0.01 Amortization of intangibles $0.00 Transaction costs Restructuring Results $0.06 $0.04 $0.00 $0.00 One-time tax item ($0.01) Operational adjusted EPS* $0.09 Interest on acquisition debt ($0.01) Adjusted EPS* $0.08 27#28Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure (dollars in millions, except per share amounts) Q3 2022 Underlying Sales Change Reported (GAAP) (Favorable) / Unfavorable FX Acquisitions Divestitures Underlying* Commercial Automation Solutions & Residential Solutions Emerson -% 8% 7% 4% 2% 3% -% -% (4)% -% 3% 1% 4% 13% 7% Commercial Automation & Residential FY 2022E August 2022 Guidance Underlying Sales Change Reported (GAAP) Solutions Solutions Emerson 4%-5% 9%-10% (Favorable) / Unfavorable FX Acquisitions 2% 1% 7% -8% 2% -3% -% -% (1)% - (2)% Divestitures Underlying* -% 3% ~1% 6% -7% 13% 14% 9% - 10% Commercial Automation & Residential FY 2022E May 2022 Guidance Underlying Sales Change Reported (GAAP) Solutions Solutions Emerson 6% -8% 11% -13% 8% - 10% (Favorable) / Unfavorable FX 1% 1% 1% Acquisitions / Divestitures Underlying* -% -% -% 7% -9% 12% -14% 9% -11% References to trailing 3-month or T3M orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding acquisitions and divestitures References to underlying orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, acquisitions and divestitures References to underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation 28#29Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure (dollars in millions, except per share amounts) EBIT Pretax earnings (GAAP) Interest expense, net Earnings before interest and taxes* Restructuring and related costs Amortization of intangibles Gain on sale of business Russia business exit Acquisition/divestiture costs OSI purchase accounting items Adjusted earnings before interest and taxes* EBIT Margin Pretax margin (GAAP) Interest expense, net EBIT margin* Restructuring and related costs Amortization of intangibles Gain on sale of business Russia business exit Acquisition/divestiture costs OSI purchase accounting items Adjusted EBITA margin* Q3 FY21 $ 784 $ 37 $ 821 32 Q3 FY22 1,195 50 1,245 97 79 34 124 (483) 162 61 10 942 $ 1,143 Q3 FY21 Q3 FY22 Change 16.7% 0.8% 23.9% 1.0% 720 bps 20 bps 17.5% 24.9% 740 bps 0.7% 0.7% - bps 1.7% 2.5% 80 bps -% (9.7)% (970) bps -% 3.2% 320 bps -% 1.2% 120 bps 0.2% 20.1% -% (20) bps 22.8% 270 bps References to trailing 3-month or T3M orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding acquisitions and divestitures References to underlying orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, acquisitions and divestitures References to underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation 29#30Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure (dollars in millions, except per share amounts) Q3 Earnings Per Share Earnings per share (GAAP) Restructuring and related costs Amortization of intangibles Gain on sale of business Russia business exit Acquisition/divestiture costs and interest on pre-acquisition AspenTech debt OSI purchase accounting Adjusted earnings per share* Earnings Per Share Earnings per share (GAAP) Restructuring and related costs Amortization of intangibles Gain on subordinated interest Gain on sale of business Russia business exit Acquisition/divestiture costs and interest on pre-acquisition AspenTech debt Adjusted earnings per share* Q3 FY21 Q3 FY22 Change $ 1.04 $ 1.54 48% 0.04 0.05 1% 0.10 0.13 3% (0.72) (74)% 0.29 30% 0.09 9% 0.01 (1)% 1.19 1.38 16% FY22E FY22E August May Guidance Guidance $5.25 - $5.35 $4.77 - $4.92 0.20 0.20 0.47 0.39 (0.60) (0.60) (0.72) 0.29 0.16 0.19 $5.05 - $5.15 $4.95 - $5.10 References to trailing 3-month or T3M orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding acquisitions and divestitures References to underlying orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, acquisitions and divestitures References to underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation 30#31Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure (dollars in millions, except per share amounts) Business Segment EBIT Pretax earnings (GAAP) Corp. items and interest expense, net Business segment EBIT Restructuring and related costs Amortization of intangibles Adjusted business segment EBITA* Business Segment EBIT Margin Pretax margin (GAAP) Corp. items and interest expense, net % of sales Segment EBIT Restructuring and related costs % of sales Amortization of intangibles % of sales Adjusted business segment EBITA margin* Q3 FY21 $ 784 $ 112 896 Q3 FY22 1,195 (201) 994 Change 52% 41% 11% 25 33 1% 79 124 3% 1,000 1,151 15% Q3 FY21 Q3 FY22 Change 16.7% 23.9% 720 bps 2.4% (4.0)% (640) bps 19.1% 19.9% 80 bps 0.5% 0.7% 20 bps 1.7% 21.3% 2.4% 70 bps 23.0% 170 bps References to trailing 3-month or T3M orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding acquisitions and divestitures References to underlying orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, acquisitions and divestitures References to underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation 31#32Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure (dollars in millions, except per share amounts) Pretax Earnings Pretax earnings (GAAP) Restructuring and related costs Amortization of intangibles Gain on sale of business Russia business exit Acquisition/divestiture costs and pre-acquisition interest on AspenTech debt OSI purchase accounting items Adjusted pretax earnings* Pretax Margin Pretax margin (GAAP) Restructuring and related costs Amortization of intangibles Gain on sale of business Russia business exit Acquisition/divestiture costs and pre-acquisition interest on AspenTech debt OSI purchase accounting Adjusted pretax margin* Q3 FY21 $ 784 $ 32 79 Q3 FY22 1,195 34 124 Change 52% 1% 7% ☐☐☐ (483) 162 (72)% 24% 70 11% 10 (1)% $ 905 $ 1,102 22% Q3 FY21 Q3 FY22 16.7% 0.7% 23.9% 0.7% Change 720 bps - bps 1.7% 2.5% 80 bps -% (9.7)% (970) bps -% 3.2% 320 bps -% 1.4% 140 bps 0.2% -% (20) bps 19.3% 22.0% 270 bps References to trailing 3-month or T3M orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding acquisitions and divestitures References to underlying orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, acquisitions and divestitures References to underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation 32#33Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure (dollars in millions, except per share amounts) Corporate and Other Corporate and other (GAAP) Restructuring and related costs Gain on sale of business Russia business exit Acquisition/divestiture costs OSI purchase accounting items Adjusted Corporate and other* Interest Expense, Net Interest expense, net (GAAP) Interest on AspenTech debt Adjusted interest expense, net* Q3 FY21 $ (33) $ Q3 FY22 242 Change $ 275 7 1 (6) (483) (483) 162 162 61 61 10 (10) $ (16) (17) Q3 FY21 Q3 FY22 Change $ 37 $ 50 13 (9) $ 37 41 (9) 4 (1) Commercial & Residential Solutions Backlog March 31, 2022 June 30, 2022 Change GAAP backlog Therm-O-Disc backlog ~ $1.4B (0.1)B - ~ $1.3B $ (0.1)B 0.1B Backlog excluding Therm-O-Disc* ~ $1.3B - ~ $1.3B References to trailing 3-month or T3M orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding acquisitions and divestitures References to underlying orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, acquisitions and divestitures References to underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation 33#34Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure (dollars in millions, except per share amounts) Automation Solutions Segment EBIT Margin Automation Solutions Segment EBIT margin (GAAP) Restructuring and related costs Amortization of intangibles Automation Solutions Adjusted Segment EBITA margin* Commercial & Residential Solutions EBIT Margin Commercial & Residential Solutions EBIT margin (GAAP) Restructuring and related costs Amortization of intangibles Commercial & Residential Solutions Adjusted Segment EBITA margin* AspenTech EBIT Margin AspenTech EBIT margin (GAAP) Restructuring and related costs Amortization of intangibles AspenTech Adjusted Segment EBITA margin* Q3 FY21 18.1% Q3 FY22 18.5% 0.7% 1.1% Change 40 bps 40 bps 1.5% 1.4% (10) bps 20.3% 21.0% 70 bps Q3 FY21 Q3 FY22 Change 21.3% 0.4% 21.4% - % 10 bps (40) bps 0.8% 22.5% 0.6% 22.0% (20) bps (50) bps Q3 FY22 23.7% 0.3% 29.8% 53.8% References to trailing 3-month or T3M orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding acquisitions and divestitures References to underlying orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, acquisitions and divestitures References to underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation 34#35Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure (dollars in millions, except per share amounts) Q3 Cash Flow Operating cash flow (GAAP) Capital expenditures Free cash flow* FY 2022E Cash Flow Operating cash flow (GAAP) Capital expenditures Free cash flow* Cash Flow to Net Earnings Conversion Operating cash flow to net earnings (GAAP) Capital expenditures Free cash flow to net earnings* Vertiv gain / Therm-O-Disc divestiture / Russia business exit Adjusted free cash flow to net earnings* Q3 FY21 $ 1,105 $ Q3 FY22 740 Change (33)% (128) (110) (3)% $ 977 $ 630 (36)% FY22E FY22E Aug May Guidance - $3.0B (525)M ~ $2.5B Guidance ~ $3.6B (600)M ~ $3.0B Q3 FY22 78% (12)% FY22E - 94% (16)% 66% - 78% 24% 90% 22% - 100% References to trailing 3-month or T3M orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding acquisitions and divestitures References to underlying orders in this presentation refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, acquisitions and divestitures References to underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation 35