Innovation Engine Report

Underlying Sales Change Reconciliation Of Non-GAAP Measures This information reconciles non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts) August Guidance FY23E Reported (GAAP) (Favorable) / Unfavorable FX (Acquisitions) Divestitures Underlying (non-GAAP) Q3 FY23 Underlying Sales Change Reported (GAAP) (Favorable) / Unfavorable FX (Acquisitions) Divestitures Underlying (non-GAAP) Total Business Segment Adjusted EBITA / EBITA Margin Pretax earnings / margin (GAAP) Corporate items and interest expense, net Total Business Segment EBITA / margin Amortization of intangibles and restructuring and related costs Adjusted total business segment EBITA / margin (non-GAAP) Adjusted Business Segment EBITA Leverage Pretax margin leverage Corporate items and interest expense, net / amortization / restructuring / acquisitions Adjusted business segment EBITA leverage, excluding AspenTech (non-GAAP) References to underlying orders and underlying sales in this presentation exclude the impact of acquisitions, divestitures and currency translation Q3 FY23 14% ~1% ~(2)% ~1% 14% -10.5% -1.5% ~(2.5)% -0.5% May Guidance Q3 FY23E 10.5 - 12.5% ~0.5% ~(1.5)% -0.5% May Guidance FY23E October Guidance FY23E 9% -10.5% ~1.5% 7% -9% -10% 10% -12% ~(2.5)% -0.5% 8.5% - 10% ~3.5% ~(4)% - % 6.5% - 8.5% Intelligent Software and Devices Control 11% 22% 1% 0% -% (4)% 1% 1% 13% 19% Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 Change $378 $761 10.9% 279 118 8.1% 19.3% 3.0% $657 $879 19.0% 22.3% 840 bps (510) bps 330 bps 149 $806 181 $1,060 4.2% 4.6% 40 bps 23.2% 26.9% 370 bps May Guidance August Guidance May Guidance Q3 FY23 Q3 FY23E FY23E 80% ~ Mid High 70s -15% (21)% ~ (30)s -35% 59% ~ Mid-High 40s -50% FY23E Mid-to-high teens ~Mid 20s ~Low Mid 40s October Guidance FY23E Low-to-mid teens ~Mid 20s - Mid-High 30s 22 EMERSON

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