New Post: Auto-populate a text field based on lookup column selection?

Hi Guys,
I was able to setup a lookup column between two lists and here’s my scenario.
Suppliers (List1) – Name and EmailAddress columns.
Initiator (List2) – Company and EmailAddress columns.
Company in list2 was the lookup column of Name in List1.
Is it possible to have the related info of the lookup column be displayed on a text field? In this case, once the company is selected, I want to have its Email Address populated on the EmailAddress field as well.

Thank You,

Arnel