Innovation Engine Report

2023 Continuing Operations Guidance Original Guidance (October 31, 2022) Prior Guidance (May 3, 2023) Current Guidance Net Sales Growth 7% -9% 9% - 10.5% ~10.5% Underlying Sales Growth 6.5% -8.5% 8.5% - 10% ~10% Operating Leverage¹ Mid-to-High 30s Low-to-Mid 40s -50% Adjusted EPS $4.00 - $4.15 > $4.15 - $4.25 $4.40 - $4.45 Free Cash Flow 1 Excluding AspenTech ~$2.2B $2.2B- $2.3B 13 DETAILS AspenTech contribution: 2023 Adjusted EPS: ~$0.25 2023 Free Cash Flow: ~$0.3B Current guidance now includes ~$0.06 impact of interest from the Copeland note receivable Excludes interest on undeployed proceeds and impact from 40% minority ownership in Copeland $2B share repurchase complete; $1.2B of dividend payments Tax rate: ~22.0% EMERSON

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