Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 18

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 18
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 million of total revenue, $69 million in net income and $72 million in EBITDA. Total backlog and awarded contracts at Bowers at September 30, 2025 is estimated at approximately $1.3 billion.

7

EBITDA is a financial measure not presented in accordance with GAAP but is intended to provide useful and supplemental information to investors and analysts as they evaluate Bowers’ performance. EBITDA is defined as net income, plus interest and other financing expenses, income taxes, depreciation, and amortization. EBITDA should not be considered an alternative to net income that is derived in accordance with GAAP. Management believes that the exclusion of the above-described items from net income in the presentation of EBITDA enables us and our investors to more effectively evaluate Bowers’ operations period over period and to identify operating trends that might not be apparent due to, among other reasons, the variable nature of these items, both in value and frequency, period over period. In addition, management believes these measures may be useful for investors in comparing Bowers’ operating results with those of other companies. The following table provides a reconciliation of Bowers’ net income, the most directly comparable financial measure presented in accordance with GAAP, to EBITDA for the year ended September 30, 2025 (dollars in thousands):

|                               |     | Twelve Months      
 Ended              
 September 30, 2025 |        |   |
|:------------------------------|:----|:-------------------|-------:|:--|
| Net income                    |     | $                  | 68,618 |   |
| Interest (net)                |     |                    | (2,467 | ) |
| Income taxes                  |     |                    |  4,250 |   |
| Depreciation and amortization |     |                    |  1,736 |   |
| EBITDA                        |     | $                  | 72,137 |   |

The above preliminary financial information is based upon information available as of the date of this prospectus. Final results for Bowers remain subject to final adjustments and developments that may arise between the date of this prospectus and the time the financial results for Bowers are finalized. You must exercise caution in relying on this information and should not draw any inferences from this information regarding financial or operating data not provided. We cannot assure you that these preliminary results will not differ materially from the information reflected in or derivable from Bowers’ final financial statements for relevant period(s).