Exhibit 99.1

Emerson Reports Second Quarter 2024 Results; Updates 2024 Outlook

ST. LOUIS (May 8, 2024) - Emerson (NYSE: EMR) today reported results1 for its second quarter ended March 31, 2024 and updated its full year outlook for fiscal 2024. Emerson also declared a quarterly cash dividend of $0.525 per share of common stock payable June 10, 2024 to stockholders of record on May 17, 2024.

(dollars in millions, except per share)						2023 Q2			2024 Q2			Change
Underlying Orders2												(1)%
Net Sales						$3,756			$4,376			17%
Underlying Sales3												8%
Pretax Earnings						$639			$652
Margin						17.0%			14.9%			(210) bps
Adjusted Segment EBITA4						$924			$1,139
Margin						24.6%			26.0%			140 bps
GAAP Earnings Per Share						$0.92			$0.87			(5)%
Adjusted Earnings Per Share5						$1.09			$1.36			25%
Operating Cash Flow						$575			$757			32%
Free Cash Flow						$513			$675			32%

Management Commentary

“Emerson's outstanding execution continued in the second quarter, with sales growth, margin expansion and earnings all exceeding expectations,” said Emerson President and Chief Executive Officer Lal Karsanbhai. “Underlying orders met our low-single-digit growth expectations for the first half of fiscal 2024, supported by process and hybrid end markets. The strong performance and relentless focus on execution give us the confidence to update our full year 2024 outlook."

Karsanbhai continued, “Our second quarter performance, especially our gross margin performance, demonstrates the strength of our transformed portfolio and our Emerson Management System. We are well positioned to continue delivering differentiated solutions to our customers and creating value for our shareholders.”

2024 Outlook

The following tables summarize the fiscal year 2024 guidance framework. The 2024 outlook assumes approximately $500 million returned to shareholders through share repurchases and approximately $1.2 billion of dividend payments. Guidance figures are approximate.

			2024 Q3			2024
Net Sales Growth			11% - 12.5%			15% - 16%
Underlying Sales Growth			3% - 4.5%			5.5% - 6.5%
Earnings Per Share			$0.92 - $0.96			$2.98 - $3.08
Amortization of Intangibles			~$0.36			~$1.43
Restructuring and Related Costs			~$0.07			~$0.32
Loss on Copeland Equity Method Investment			~$0.02			~$0.19
Amortization of Acquisition-related Inventory Step-up			---			$0.38
Acquisition / Divestiture Fees and Related Costs			~$0.01			~$0.23
Divestiture Loss / (Gain), net			---			($0.03)
Discrete Tax Benefits			---			($0.10)
Adjusted Earnings Per Share			$1.38 - $1.42			$5.40 - $5.50
Operating Cash Flow						~$3.1B
Free Cash Flow						~$2.7B

1 Results are presented on a continuing operations basis.

2 Underlying orders does not include AspenTech.

3 Underlying sales excludes the impact of currency translation, and significant acquisitions and divestitures.

4 Adjusted segment EBITA represents segment earnings less restructuring and intangibles amortization expense.

Page 2

5 Adjusted EPS excludes intangibles amortization expense, restructuring and related costs, the income/loss of Emerson's 40% share of Copeland, the amortization of acquisition-related inventory step-up, acquisition/divestiture gains, losses, fees and related costs, discrete tax benefits, an AspenTech Micromine purchase price hedge and write-offs associated with Emerson's Russia exit.

Conference Call

Today, beginning at 8:00 a.m. Central Time / 9:00 a.m. Eastern Time, Emerson management will discuss the second quarter results during an investor conference call. Participants can access a live webcast available at www.emerson.com/investors at the time of the call. A replay of the call will be available for 90 days. Conference call slides will be posted in advance of the call on the company website.

About Emerson

Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world's essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.

Forward-Looking and Cautionary Statements

Statements in this press release 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 scope, duration and ultimate impacts of the Russia-Ukraine and other global conflicts, as well as economic and currency conditions, market demand, 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, other than as noted herein.

Emerson uses our Investor Relations website, www.Emerson.com/investors, as a means of disclosing information

which may be of interest or material to our investors and for complying with disclosure obligations under Regulation

FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases,

SEC filings, public conference calls, webcasts and social media. The information contained on, or that may be

accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Investors:			Media:
Colleen Mettler			Joseph Sala / Greg Klassen
(314) 553-2197			Joele Frank, Wilkinson Brimmer Katcher
			(212) 355-4449

(tables attached)

Page 3

																					Table 1
EMERSON AND SUBSIDIARIES
CONSOLIDATED OPERATING RESULTS
(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)
			Quarter Ended March 31,												Six Months Ended March 31,
												2023															2024						2023						2024
Net sales			$	3,756					$	4,376					$	7,129					$	8,493
Cost of sales			1,955						2,092						3,708						4,293
SG&A expenses			1,000						1,296						2,030						2,573
Gain on subordinated interest			—						(79)						—						(79)
Other deductions, net			109						389						229						876
Interest expense, net			53						57						101						101
Interest income from related party1			—						(31)						—						(62)
Earnings from continuing operations before income taxes			639						652						1,061						791
Income taxes			134						149						232						156
Earnings from continuing operations			505						503						829						635
Discontinued operations, net of tax			265						—						2,267						—
Net earnings			770						503						3,096						635
Less: Noncontrolling interests in subsidiaries			(22)						2						(27)						(8)
Net earnings common stockholders			$	792					$	501					$	3,123					$	643
Earnings common stockholders
Earnings from continuing operations			$	530					$	501					$	859					$	643
Discontinued operations			262						—						2,264						—
Net earnings common stockholders			$	792					$	501					$	3,123					$	643
Diluted avg. shares outstanding			573.6						574.1						580.1						573.7
Diluted earnings per share common stockholders
Earnings from continuing operations			$0.92						$0.87						$1.48						$1.12
Discontinued operations			0.46						—						3.90						—
Diluted earnings per common share			$1.38						$0.87						$5.38						$1.12
			Quarter Ended March 31,												Six Months Ended March 31,
												2023															2024						2023						2024
Other deductions, net
Amortization of intangibles			$119						$273						$237						$547
Restructuring costs			19						30						29						113
Other			(29)						86						(37)						216
Total			$109						$389						$229						$876
1 Represents interest on the Copeland note receivable.

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									Table 2
EMERSON AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(DOLLARS IN MILLIONS, UNAUDITED)
			Sept 30, 2023						Mar 31, 2024
Assets
Cash and equivalents			$	8,051					$	2,318
Receivables, net			2,518						2,877
Inventories			2,006						2,357
Other current assets			1,244						1,457
Total current assets			13,819						9,009
Property, plant & equipment, net			2,363						2,689
Goodwill			14,480						17,964
Other intangible assets			6,263						10,976
Copeland note receivable and equity investment			3,255						3,191
Other			2,566						2,611
Total assets			$	42,746					$	46,440
Liabilities and equity
Short-term borrowings and current maturities of long-term debt			$	547					$	3,155
Accounts payable			1,275						1,271
Accrued expenses			3,210						3,238
Total current liabilities			5,032						7,664
Long-term debt			7,610						7,614
Other liabilities			3,506						4,381
Equity
Common stockholders' equity			20,689						20,900
Noncontrolling interests in subsidiaries			5,909						5,881
Total equity			26,598						26,781
Total liabilities and equity			$	42,746					$	46,440

Page 5

												Table 3
EMERSON AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(DOLLARS IN MILLIONS, UNAUDITED)
			Six Months Ended March 31,
						2023						2024
Operating activities
Net earnings						$	3,096					$	635
Earnings from discontinued operations, net of tax						(2,267)						—
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization						523						846
Stock compensation						142						147
Amortization of acquisition-related inventory step-up						—						231
Gain on subordinated interest						—						(79)
Changes in operating working capital						(390)						(373)
Other, net						(227)						(206)
Cash from continuing operations						877						1,201
Cash from discontinued operations						(391)						(43)
Cash provided by operating activities						486						1,158
Investing activities
Capital expenditures						(121)						(159)
Purchases of businesses, net of cash and equivalents acquired						—						(8,342)
Proceeds from subordinated interest						15						79
Other, net						(76)						(68)
Cash from continuing operations						(182)						(8,490)
Cash from discontinued operations						2,916						1
Cash provided by (used in) investing activities						2,734						(8,489)
Financing activities
Net increase (decrease) in short-term borrowings						(31)						2,464
Proceeds from short-term borrowings greater than three months						395						99
Payments of long-term debt						(742)						(1)
Dividends paid						(603)						(600)
Purchases of common stock						(2,000)						(175)
AspenTech purchases of common stock						—						(129)
Other, net						(55)						(45)
Cash provided by (used in) financing activities						(3,036)						1,613
Effect of exchange rate changes on cash and equivalents						58						(15)
Increase (decrease) in cash and equivalents						242						(5,733)
Beginning cash and equivalents						1,804						8,051
Ending cash and equivalents						$	2,046					$	2,318

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Table 4

EMERSON AND SUBSIDIARIES

SEGMENT SALES AND EARNINGS

(DOLLARS IN MILLIONS, UNAUDITED)

The following tables show results for the Company's segments on an adjusted segment EBITA basis and are intended to supplement the Company's results of operations, including its segment earnings which are defined as earnings before interest and taxes. The Company defines adjusted segment and total segment EBITA as segment earnings excluding intangibles amortization expense, and restructuring and related expense. Adjusted segment and total segment EBITA, and adjusted segment and total segment EBITA margin are measures used by management and may be useful for investors to evaluate the Company's segments' operational performance.

			Quarter Ended March 31,
			2023						2024						Reported						Underlying
Sales
Final Control			$	992					$	1,051					6		%				7		%
Measurement & Analytical			888						1,013						14		%				16		%
Discrete Automation			683						632						(8)		%				(7)		%
Safety & Productivity			361						365						1		%				1		%
Intelligent Devices			$	2,924					$	3,061					5		%				6		%
Control Systems & Software			623						687						11		%				12		%
Test & Measurement			—						367						—		%				—		%
AspenTech			230						278						21		%				21		%
Software and Control			$	853					$	1,332					56		%				14		%
Eliminations			(21)						(17)
Total			$	3,756					$	4,376					17		%				8		%

Sales Growth by Geography
			Quarter Ended March 31,
Americas			4		%
Europe			12		%
Asia, Middle East & Africa			11		%

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Table 4 cont.

			Six Months Ended March 31,
			2023						2024						Reported						Underlying
Sales
Final Control			$1,854						$1,991						7		%				8		%
Measurement & Analytical			1,637						1,960						20		%				22		%
Discrete Automation			1,301						1,245						(4)		%				(5)		%
Safety & Productivity			671						687						2		%				2		%
Intelligent Devices			$5,463						$5,883						8		%				8		%
Control Systems & Software			1,229						1,362						11		%				11		%
Test & Measurement			—						749						—		%				—		%
AspenTech			473						535						13		%				13		%
Software and Control			$1,702						$2,646						56		%				12		%
Eliminations			(36)						(36)
Total			$7,129						$8,493						19		%				9		%

Sales Growth by Geography
			Six Months Ended March 31,
Americas			6		%
Europe			11		%
Asia, Middle East & Africa			13		%

Page 8

Table 4 cont.

			Quarter Ended March 31,												Quarter Ended March 31,
			2023												2024
			As Reported (GAAP)						Adjusted EBITA (Non-GAAP)						As Reported (GAAP)						Adjusted EBITA (Non-GAAP)
Earnings
Final Control			$	215					$	246					$	259					$	274
Margins			21.6		%				24.7		%				24.7		%				26.1		%
Measurement & Analytical			229						234						274						287
Margins			25.8		%				26.5		%				27.0		%				28.3		%
Discrete Automation			133						147						116						131
Margins			19.5		%				21.5		%				18.4		%				20.9		%
Safety & Productivity			83						92						83						91
Margins			22.9		%				25.2		%				22.7		%				24.7		%
Intelligent Devices			$	660					$	719					$	732					$	783
Margins			22.6		%				24.6		%				23.9		%				25.6		%
Control Systems & Software			127						137						151						165
Margins			20.4		%				22.1		%				22.0		%				24.0		%
Test & Measurement			—						—						(79)						78
Margins			—		%				—		%				(21.7)		%				21.4		%
AspenTech			(54)						68						(8)						113
Margins			(23.4)		%				29.5		%				(3.1)		%				40.6		%
Software and Control			$	73					$	205					$	64					$	356
Margins			8.6		%				24.1		%				4.7		%				26.7		%
Corporate items and interest expense, net:
Stock compensation			(40)						(40)						(73)						(59)
Unallocated pension and postretirement costs			46						46						38						38
Corporate and other			(47)						(55)						(103)						(46)
Gain on subordinated interest			—						—						79						—
Loss on Copeland equity method investment			—						—						(59)						—
Interest expense, net			(53)						—						(57)						—
Interest income from related party1			—						—						31						—
Pretax Earnings / Adjusted EBITA			$	639					$	875					$	652					$	1,072
Margins			17.0		%				23.3		%				14.9		%				24.5		%
Supplemental Total Segment Earnings:
Adjusted Total Segment EBITA									$	924											$	1,139
Margins									24.6		%										26.0		%
1 Represents interest on the Copeland note receivable.

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Table 4 cont.

			Quarter Ended March 31,												Quarter Ended March 31,
			2023												2024
			Amortization of Intangibles1						Restructuring and Related Costs2						Amortization of Intangibles1						Restructuring and Related Costs2
Final Control			$	22					$	9					$	22					$	(7)
Measurement & Analytical			5						—						12						1
Discrete Automation			7						7						8						7
Safety & Productivity			7						2						7						1
Intelligent Devices			$	41					$	18					$	49					$	2
Control Systems & Software			5						5						11						3
Test & Measurement			—						—						141						16
AspenTech			122						—						121						—
Software and Control			$	127					$	5					$	273					$	19
Corporate			—						3						—						12			3
Total			$	168					$	26					$	322					$	33
1 Amortization of intangibles includes $49 and $49 reported in cost of sales for the three months ended March 31, 2023 and 2024, respectively.
2 Restructuring and related costs includes $7 and $3 reported in cost of sales and selling, general and administrative expenses for the three months ended March 31, 2023 and 2024, respectively.
3 Corporate restructuring of $12 for the three months ended March 31, 2024 includes $10 related to integration-related stock compensation expense attributable to NI.

			Quarter Ended March 31,
Depreciation and Amortization			2023						2024
Final Control			$	45					$	39
Measurement & Analytical			28						33
Discrete Automation			22						21
Safety & Productivity			15						15
Intelligent Devices			110						108
Control Systems & Software			24						28
Test & Measurement			—						153
AspenTech			123						124
Software and Control			147						305
Corporate			6						11
Total			$	263					$	424

Page 10

Table 5

EMERSON AND SUBSIDIARIES

ADJUSTED CORPORATE AND OTHER SUPPLEMENTAL

(DOLLARS IN MILLIONS, UNAUDITED)

The following table shows the Company's stock compensation and corporate and other expenses on an adjusted basis. The Company's definition of adjusted stock compensation excludes integration-related stock compensation expense. The Company's definition of adjusted corporate and other excludes corporate restructuring and related costs, first year purchase accounting related items and transaction fees, and certain gains, losses or impairments. This metric is useful for reconciling from total adjusted segment EBITA to the Company's consolidated adjusted EBITA.

															Quarter Ended March 31,
															2023						2024
Stock compensation (GAAP)															$	(40)					$	(73)
Integration-related stock compensation expense															—						14			1
Adjusted stock compensation (non-GAAP)															$	(40)					$	(59)

															Quarter Ended March 31,
															2023						2024
Corporate and other (GAAP)															$	(47)					$	(103)
Corporate restructuring and related costs															3						2
Acquisition / divestiture costs															10						16
National Instruments investment gain															(35)						—
Loss on divestiture of business															—						39
AspenTech Micromine purchase price hedge															14						—
Adjusted corporate and other (non-GAAP)															$	(55)					$	(46)
1 Integration-related stock compensation expense relates to NI and includes $10 reported as restructuring costs.

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Table 6

EMERSON AND SUBSIDIARIES

ADJUSTED EBITA & EPS SUPPLEMENTAL

(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)

The following tables, which show results on an adjusted EBITA basis and diluted earnings per share on an adjusted basis, are intended to supplement the Company's discussion of its results of operations herein. The Company defines adjusted EBITA as earnings excluding interest expense, net, income taxes, intangibles amortization expense, restructuring expense, first year purchase accounting related items and transaction fees, gains or losses on the Copeland equity method investment, and certain gains, losses or impairments. Adjusted earnings per share excludes intangibles amortization expense, restructuring expense, first year purchase accounting related items and transaction-related costs, gains or losses on the Copeland equity method investment, and certain gains, losses or impairments. Adjusted EBITA, adjusted EBITA margin, and adjusted earnings per share are measures used by management and may be useful for investors to evaluate the Company's operational performance.

			Quarter Ended March 31,
			2023						2024
Pretax earnings			$	639					$	652
Percent of sales			17.0		%				14.9		%
Interest expense, net			53						57
Interest income from related party1			—						(31)
Amortization of intangibles			168						322
Restructuring and related costs			26						33
Acquisition/divestiture fees and related costs			10						20
Loss on divestiture of business			—						39
Gain on subordinated interest			—						(79)
National Instruments investment gain			(35)						—
AspenTech Micromine purchase price hedge			14						—
Loss on Copeland equity method investment			—						59
Adjusted EBITA			$	875					$	1,072
Percent of sales			23.3		%				24.5		%
			Quarter Ended March 31,
			2023						2024
GAAP earnings from continuing operations per share			$	0.92					$	0.87
Amortization of intangibles			0.16						0.36
Restructuring and related costs			0.04						0.05
Acquisition/divestiture fees and related costs			0.01						0.03
Loss on divestiture of business			—						0.07
Gain on subordinated interest			—						(0.10)
National Instruments investment gain			(0.05)						—
AspenTech Micromine purchase price hedge			0.01						—
Loss on Copeland equity method investment			—						0.08
Adjusted earnings from continuing operations per share			$	1.09					$	1.36
Less: AspenTech contribution to adjusted earnings per share			(0.04)						(0.10)
Adjusted earnings per share excluding AspenTech contribution			$	1.05					$	1.26
1 Represents interest on the Copeland note receivable

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Table 6 cont.

Quarter Ended March 31, 2024
			Pretax Earnings						Income Taxes						Earnings from Cont. Ops.						Non-Controlling Interests3						Net Earnings Common Stockholders						Diluted Earnings Per Share
As reported (GAAP)			$	652					$	149					$	503					$	2					$	501					$	0.87
Amortization of intangibles			322			1			72						250						41						209						0.36
Restructuring and related costs			33			2			5						28						—						28						0.05
Acquisition/divestiture fees and related costs			20						4						16						—						16						0.03
Loss on Copeland equity method investment			59						13						46						—						46						0.08
Loss on divestiture of business			39						(2)						41						—						41						0.07
Gain on subordinated interest			(79)						(19)						(60)						—						(60)						(0.10)
Adjusted (non-GAAP)			$	1,046					$	222					$	824					$	43					$	781					$	1.36
Interest expense, net			57
Interest income from related party4			(31)
Adjusted EBITA (non-GAAP)			$	1,072
1 Amortization of intangibles includes $49 reported in cost of sales.
2 Restructuring and related costs includes $3 reported in cost of sales and and selling, general and administrative expenses.
3 Represents the non-controlling interest in AspenTech applied to AspenTech's share of each adjustment presented herein and eliminated from Emerson's consolidated results.
4 Represents interest on the Copeland note receivable.

Page 13

Table 7

EMERSON AND SUBSIDIARIES

ASPENTECH CONTRIBUTION TO EMERSON RESULTS SUPPLEMENTAL

(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)

The following tables reconcile the financial results of AspenTech reported to its shareholders with the amounts included in Emerson's consolidated financial results. Emerson currently owns approximately 57 percent of the common shares outstanding of AspenTech, a separately traded public company (NASDAQ: AZPN), and consolidates AspenTech in its financial results. The 43 percent non-controlling interest in AspenTech is removed from Emerson's net earnings common stockholders through the non-controlling interest line item. AspenTech is also one of Emerson's segments and its GAAP segment earnings is reconciled below to its consolidated impact to clarify that certain items are reported outside of its segment earnings within Emerson corporate, including interest income and stock compensation.

Quarter Ended March 31, 2024
			Pretax Earnings						Income Taxes (Benefit)						Earnings from Cont. Ops.						Non-Controlling Interests4						Net Earnings Common Stockholders						Diluted Earnings Per Share
Standalone reporting (GAAP)			$	(7)		1			$	(9)					$	2
Other			—						(1)						1
Reported in Emerson consolidation (GAAP)			(7)						(10)						3						1						2						$	—
Adjustments:
Amortization of intangibles			121			2			26						95						41						54						0.10
Adjusted (Non-GAAP)			$	114					$	16					$	98					$	42					$	56					$	0.10
Interest income			(14)			3
Stock compensation			13			3
Adjusted segment EBITA (non-GAAP)			$	113
Reconciliation to Segment EBIT
Pre-tax earnings			$	(7)
Interest income			(14)			3
Stock compensation			13			3
Segment EBIT (GAAP)			$	(8)
Amortization of intangibles			121			2
Adjusted segment EBITA (non-GAAP)			$	113
1 Amount reflects AspenTech's pretax earnings for the three months ended March 31, 2024 as reported in its quarterly earnings release 8-K.
2 Amortization of intangibles includes $49 reported in cost of sales.
3 Reported in Emerson corporate line items.
4 Represents the non-controlling interest in AspenTech applied to each adjustment presented herein and eliminated from Emerson's consolidated results.

Page 14

Reconciliations of Non-GAAP Financial Measures & Other

Table 8

Reconciliations of Non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts). See tables 4 through 7 for additional non-GAAP reconciliations.

2024 Q2 Underlying Sales Change			Reported			(Favorable) / Unfavorable FX			(Acquisitions) / Divestitures			Underlying
Final Control			6		%	1		%	—		%	7		%
Measurement & Analytical			14		%	1		%	1		%	16		%
Discrete Automation			(8)		%	1		%	—		%	(7)		%
Safety & Productivity			1		%	—		%	—		%	1		%
Intelligent Devices			5		%	1		%	—		%	6		%
Control Systems & Software			11		%	1		%	—		%	12		%
Test & Measurement			—		%	—		%	—		%	—		%
AspenTech			21		%	—		%	—		%	21		%
Software and Control			56		%	1		%	(43)		%	14		%
Emerson			17		%	1		%	(10)		%	8		%

Six Months Ended March 31, 2024 Underlying Sales Change			Reported			(Favorable) / Unfavorable FX			(Acquisitions) / Divestitures			Underlying
Final Control			7		%	—		%	1		%	8		%
Measurement & Analytical			20		%	—		%	2		%	22		%
Discrete Automation			(4)		%	(1)		%	—		%	(5)		%
Safety & Productivity			2		%	—		%	—		%	2		%
Intelligent Devices			8		%	—		%	—		%	8		%
Control Systems & Software			11		%	—		%	—		%	11		%
Test & Measurement			—		%	—		%	—		%	—		%
AspenTech			13		%	—		%	—		%	13		%
Software and Control			56		%	—		%	(44)		%	12		%
Emerson			19		%	—		%	(10)		%	9		%

Underlying Growth Guidance			2024 Q3 Guidance			2024 Guidance
Reported (GAAP)			11% - 12.5%			15% - 16%
(Favorable) / Unfavorable FX			~ 1 pts			~ 0.5 pts
(Acquisitions) / Divestitures			~(9) pts			~ (10) pts
Underlying (non-GAAP)			3% - 4.5%			5.5% - 6.5%

Page 15

2023 Q2 Adjusted Segment EBITA			EBIT			EBIT Margin			Amortization of Intangibles			Restructuring and Related Costs			Adjusted Segment EBITA			Adjusted Segment EBITA Margin
Final Control			$	215		21.6		%	$	22		$	9		$	246		24.7		%
Measurement & Analytical			229			25.8		%	5			—			234			26.5		%
Discrete Automation			133			19.5		%	7			7			147			21.5		%
Safety & Productivity			83			22.9		%	7			2			92			25.2		%
Intelligent Devices			$	660		22.6		%	$	41		$	18		$	719		24.6		%
Control Systems & Software			127			20.4		%	5			5			137			22.1		%
Test & Measurement			—			—		%	—			—			—			—		%
AspenTech			(54)			(23.4)		%	122			—			68			29.5		%
Software and Control			$	73		8.6		%	$	127		$	5		$	205		24.1		%

2024 Q2 Adjusted Segment EBITA			EBIT			EBIT Margin			Amortization of Intangibles			Restructuring and Related Costs			Adjusted Segment EBITA			Adjusted Segment EBITA Margin
Final Control			$	259		24.7		%	$	22		$	(7)		$	274		26.1		%
Measurement & Analytical			274			27.0		%	12			1			287			28.3		%
Discrete Automation			116			18.4		%	8			7			131			20.9		%
Safety & Productivity			83			22.7		%	7			1			91			24.7		%
Intelligent Devices			$	732		23.9		%	$	49		$	2		$	783		25.6		%
Control Systems & Software			151			22.0		%	11			3			165			24.0		%
Test & Measurement			(79)			(21.7)		%	141			16			78			21.4		%
AspenTech			(8)			(3.1)		%	121			—			113			40.6		%
Software and Control			$	64		4.7		%	$	273		$	19		$	356		26.7		%

Total Adjusted Segment EBITA						2023 Q2			2024 Q2
Pretax earnings (GAAP)						$	639		$	652
Margin						17.0		%	14.9		%
Corporate items and interest expense, net						94			144
Amortization of intangibles						168			322
Restructuring and related costs						23			21
Adjusted segment EBITA (non-GAAP)						$	924		$	1,139
Margin						24.6		%	26.0		%

Free Cash Flow						2023 Q2			2024 Q2						2024E ($ in billions)
Operating cash flow (GAAP)						$	575		$	757					~ $ 3.1
Capital expenditures						(62)			(82)						~(0.4)
Free cash flow (non-GAAP)						$	513		$	675					~ $2.7

Note 1: Underlying sales and orders exclude the impact of currency translation and significant acquisitions and divestitures.

Note 2: All fiscal year 2024E figures are approximate, except where range is given.