Company: LGN
Filing Date: 2025-07-15
Form Type: DRS/A
Source: 0000950123-25-006399
Chunk: 148

Company: Legence Corp.
Filing Date: 2025-07-15
Form: DRS/A
Chunk 148
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 year from
December 16, 2025 to December 16, 2026.

On February 6, 2025, Legence Holdings amended the Credit Agreement to reduce the
interest margin applicable to borrowings of term loans or delayed draw term loans and extend the maturity date applicable to the Term Loan Credit Facility and the Delayed Draw Term Loan Credit Facility by one year from December 16, 2027 to
December 16, 2028. The amendment also removed the 0.10% credit spread adjustment applicable to borrowings of term loans that are SOFR loans.

104

Confidential Treatment Requested by Legence Corp.

Pursuant to 17 C.F.R. Section 200.83

As of March 31, 2025 and December 31, 2024, there were approximately
$5.2 million in standby letters of credit outstanding, with such letters of credit accruing fees at an annual rate equal to 3.88% and 3.75%, respectively. The remaining $84.8 million of revolving credit commitments were undrawn. There were
no borrowings under the Revolving Credit Facility as of March 31, 2025, December 31, 2024 or December 31, 2023.

Under the
terms of the Credit Agreement, Legence Holdings and its subsidiaries may be able to incur substantial additional indebtedness in the future, subject to certain conditions. See “Risk Factors—Risks Related to Indebtedness—Despite our
current indebtedness levels, we and our subsidiaries may still be able to incur substantially more debt. This could further exacerbate the risks associated with our leverage.”

Pursuant to the terms of the Credit Agreement, after the consummation of a Qualified IPO (as defined in the Credit Agreement), the margin for
term loans and revolving credit loans and the fee rate on letters of credit will automatically be reduced by 0.25%.

The Credit Agreement
contains a springing financial maintenance covenant that requires the First Lien Net Leverage Ratio not to exceed 8.50 to 1.00. The Credit Agreement generally defines this as the ratio of first lien secured indebtedness (net of cash) to consolidated
pro forma adjusted EBITDA for the preceding four fiscal quarters. The springing financial maintenance covenant is only tested if, as of the last day of each fiscal quarter, the amount of loans and/or letters of credit outstanding under the Revolving
Credit Facility is greater than