Company: LGN
Filing Date: 2025-04-30
Form Type: DRS/A
Source: 0000950123-25-003868
Chunk: 111

Company: Legence Corp.
Filing Date: 2025-04-30
Form: DRS/A
Chunk 111
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 result, the consolidated financial statements of the Company will recognize the assets and liabilities received in the reorganization at their historical carrying amounts, as
reflected in the historical consolidated financial statements of Legence Holdings.

For a complete description of the Corporate
Reorganization, see the section entitled “Corporate Reorganization” included elsewhere in this prospectus.

72

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83 2. Notes to Unaudited Pro Forma Condensed Consolidated Balance Sheet Transaction accounting adjustments include the following adjustments related to the unaudited pro forma condensed consolidated balance sheet as of December 31, 2024, as follows:

| a) | We are capitalizing one-time incremental direct costs associated with                                                                                                                                                                                     
 the Transactions. These costs primarily represent legal, accounting and other direct costs and are recorded in Other assets in our condensed consolidated balance sheet. Upon completion of this offering, these capitalized costs will be offset against 
 the proceeds raised from this offering as a reduction of additional paid-in capital.                                                                                                                                                                      |

| b) | Legence Holdings will be treated as a partnership for U.S. federal income tax purposes. As such, Legence                                                                                                                                            
 Holdings’ earnings and losses will flow through to its partners, including Legence, and are generally not subject to significant entity level taxes at the Legence Holdings level. Legence Holdings wholly owns certain corporate subsidiaries that 
 are regarded entities for tax purposes and subject to U.S. federal, state and local taxes on income they generate. As such, the consolidated provision of Legence will include corporate taxes that it incurs based on its flow-through income from 
 Legence Holdings, as well as corporate taxes that are incurred by its regarded subsidiaries. As described in “Corporate Reorganization,” upon completion of the Corporate Reorganization, Legence will become the managing member of Legence        
 Holdings. Legence, as managing member, will operate and control all of the business and affairs of Legence Holdings. As a result of the Transactions, Legence will own (including through the Pubco Subsidiaries) approximately % of the economic   
 interest in Legence Holdings and will have (including through the Pubco Subsidiaries)  % of the voting power and will control the management of Legence Holdings. Immediately following the completion of the Corporate Reorganization, the         
 ownership percentage held by noncontrolling interest will be approximately  %.                                                                                                                                                                      |

Represents an adjustment to equity reflecting