Does your example show the data from one record or 3 records? From the current layout's table or a related table?
Your reference to the List function suggests that you may have 3 records in a related table. If so, define a calcualtion field in that table:
Application & Char ( 9 ) & System Owner
Char ( 9 ) is the tab character.
Now reference this calculation field with your List function to get your rows and columns of text. (If the amount of text in Application varies a lot from record, it may not be possible to get columns of data that line up correctly in your email.)
If this is data from just one record (which would suggest that you may not have the best table/relationship design here), you don't need the list funciton. Just use:
Server & ¶ & Application 1 & Char ( 9 ) & System Owner 1 & ¶ &Application 2 & Char ( 9 ) & System Owner 2 & ¶Application 3 & Char ( 9 ) & System Owner 3