Company: LGN
Filing Date: 2025-04-30
Form Type: DRS/A
Source: 0000950123-25-003868
Chunk: 211

Company: Legence Corp.
Filing Date: 2025-04-30
Form: DRS/A
Chunk 211
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 Units and their interests therein and
rights as members will be governed by the Legence Holdings LLC Agreement. After giving effect to the Corporate Reorganization and the offering contemplated by this prospectus, Aggregator I will own an approximate % economic interest in
Legence Holdings (or % if the underwriters’ option to purchase additional shares is exercised in full and after giving effect to the application of the net

140

Confidential Treatment Requested by Legence Corp.

Pursuant to 17 C.F.R. Section 200.83

proceeds therefrom). Under the Legence Holdings LLC Agreement, we will 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. Following this offering, if we authorize a distribution, such distribution will be made to the LGN Unit Holders and us and the Pubco Subsidiaries on a pro rata
basis in accordance with their respective percentage ownership of LGN Units.

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. Net profits and net losses of Legence Holdings
generally will be allocated to us and the LGN Unit Holders on a pro rata basis in accordance with our respective percentage ownership of LGN Units, except that certain non-pro rata adjustments will be required
to be made to reflect built-in gains and losses and tax depreciation, depletion and amortization with respect to such built-in gains and losses. The Legence Holdings LLC
Agreement will provide, to the extent cash is available, for pro rata tax distributions 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.

The Legence Holdings LLC Agreement will provide that, except as otherwise determined by us, at any time we issue a share of our Class A
Common Stock or any other equity security other than pursuant to an incentive plan, the net proceeds received by us with respect to such issuance, if any, shall be concurrently contributed to Legence Holdings, and Legence Holdings shall issue to us
one LGN Unit or other economically equivalent equity interest. Conversely, if at any time, any shares of our