Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 300

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 300
---
   8,401 |     | $    |      — |   |

| (1) | The Company classifies the cash flows resulting from its interest rate swaps in Cash provided by operating                                                                                                    
 activities on the Condensed Consolidated Statements of Cash Flows consistent with the interest that is hedged. Refer to “Note 9—Derivatives” for additional information on the Company’s interest rate swaps. |

| (2) | Includes right-of-use assets acquired. Refer to “Note 
 4—Acquisitions”.                                      |

Refer to “Note 4—Acquisitions” for disclosure of non-cashfinancing of acquisitions through issuance of Common Interests. F-44

Legence Corp.

Notes to Condensed Consolidated Financial Statements - (Continued)

(Unaudited)

Note 20 - Subsequent Events

Refer to “Note 4—Acquisitions” for subsequent acquisitions and “Note 7—Debt” for a subsequent amendment to the
Company’s term loan agreement and revolving line of credit agreement. Other than these items, the Company determined no subsequent events were required to be recognized or disclosed.

F-45

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Member and the Board of Directors of Legence Holdings LLC

Opinion on the Financial Statements

We
have audited the accompanying consolidated balance sheets of Legence Holdings LLC and subsidiaries (the “Company”) as of December 31, 2024 and 2023, and the related consolidated statements of operations, comprehensive loss, changes
in equity, and cash flows for each of the three years in the period ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in
all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with
accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the
Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in
accordance with