Company: LGN
Filing Date: 2025-07-15
Form Type: DRS/A
Source: 0000950123-25-006399
Chunk: 114

Company: Legence Corp.
Filing Date: 2025-07-15
Form: DRS/A
Chunk 114
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     | Year Ended        
 December 31, 2024 |     | Three Months Ended 
 March 31, 2025     |
|:----------------------------------------------------------------------|:----|:------------------|:----|:-------------------|
| Numerator:                                                            |     |                   |     |                    |
| Net loss                                                              |     | $                 |     | $                  |
| Net income attributable to noncontrolling interests                   |     |                   |     |                    |
| Net loss attributable to Legence Corp.                                |     |                   |     |                    |
| Denominator:                                                          |     |                   |     |                    |
| Weighted average shares of Class A Common Stock outstanding (basic)   |     |                   |     |                    |
| Incremental common shares attributable to dilutive instruments(1)     |     |                   |     |                    |
| Assumed conversion of LGN Units to shares of Class A Common Stock(2)  |     |                   |     |                    |
| Weighted average shares of Class A Common Stock outstanding (diluted) |     |                   |     |                    |
| Basic loss per share                                                  |     | $                 |     | $                  |
| Diluted loss per share                                                |     | $                 |     | $                  |

| (1) | For the three months ended March 31, 2025 and the year ended December 31, 2024, the dilutive effects of                                               
 the Company’s restricted stock units were not included in the computation of diluted loss per share because the effect would have been anti-dilutive. |

| (2) | The noncontrolling interest owners, which we refer to as LGN Unit Holders, have an Exchange Right, which enable                                                                                              
 the noncontrolling interest owners to exchange LGN Units for shares of Class A Common Stock on a one for one basis. The Exchange Right causes the LGN Units to be considered potentially dilutive shares for |

76

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83

77

Confidential Treatment Requested by Legence Corp.

Pursuant to 17 C.F.R. Section 200.83

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our Consolidated Financial Statements and our Condensed Consolidated Financial Statements and related notes