Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 208

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 208
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 Class A Common Stock in us, a corporation for U.S. federal income tax purposes. The LGN Unit Holders will generally incur U.S. federal, state and local income
taxes on their proportionate share of any taxable income of Legence Holdings.

In addition, pursuant to our amended and restated
certificate of incorporation and the Legence Holdings LLC Agreement, our capital structure and the capital structure of Legence Holdings generally replicate one another and provide for customary antidilution mechanisms in order to maintain the one-for-one exchange ratio between the LGN Units (and a corresponding number of shares of Class B Common Stock) and our Class A Common Stock, among other things.

We and the LGN Unit Holders will generally incur U.S. federal, state and local income taxes on our proportionate share of any taxable
income of Legence Holdings and will be allocated our proportionate share of any taxable loss of Legence Holdings. The Legence Holdings LLC Agreement provides, to the extent cash is available, for distributions pro rata to us and the LGN Unit Holders
in an amount at least sufficient to allow us to pay our taxes and make payments under the Tax Receivable Agreement.

141

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS

Transactions with Entities Associated with Legence Holdings and Blackstone Fund

During the years ended December 31, 2023 and 2022, Legence Holdings had revenue of $3.0 million and $6.0 million, respectively,
related to contracts with entities associated with Legence Holdings and the Blackstone Fund.

A portion of the Company’s term loan
is held by entities associated with Legence Holdings and the Blackstone Fund. See “Note 17—Related Party Transactions” and “Note 9—Debt” in the Notes to Consolidated Financial Statements for additional
information.

Legence Holdings LLC Agreement

As a result of the Corporate Reorganization, Legence, the Pubco Subsidiaries and Legence Parent ML LLC, as the members of Legence Holdings,
hold the LGN Units and their interests therein and rights as members are governed by the Legence Holdings LLC Agreement. Under the Legence Holdings LLC Agreement, we have the right, as managing member of Legence Holdings, to determine when
distributions will be made to the holders of LGN Units, including us and the Pubco Subsidiaries, and the amount of any such distributions. If we authorize a distribution, such distribution will be made to the LG