Company: LGN
Filing Date: 2025-04-30
Form Type: DRS/A
Source: 0000950123-25-003868
Chunk: 137

Company: Legence Corp.
Filing Date: 2025-04-30
Form: DRS/A
Chunk 137
---
 by other companies. Our backlog and awarded contracts measure has two components: backlog and awarded contracts. Backlog represents, as of any date of determination, the expected revenue values of the remaining performance obligations under our contracted fixed-price projects. Awarded contracts represents as of any date of determination, the expected revenue values of projects awarded to us following a request for proposals but for which a formal contract has not yet been signed. We only include fixed-price contracts in our backlog and awarded contracts because they 91

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83 have defined revenue values. We do not include cost-plus contracts, including maintenance service contracts, in our backlog and awarded contracts, because their total revenue values are not known. Historically, cost-plus projects have comprised a relatively small portion of our revenue. We calculate our book-to-billratio by taking our additions to backlog and awarded contracts for the period and dividing it by revenue from fixed-price contracts for the same period. Given that backlog and awarded contracts and book-to-billratio are operational measures and that our methodology for calculating backlog and awarded contracts and book-to-billratio does not meet the definition of a non-GAAPmeasure, as that term is defined by the SEC, a quantitative reconciliation for each is not required nor provided. The following table presents our backlog and awarded contracts and book-to-billratio by reportable segment (dollars in thousands):

| Engineering & Consulting      |     | As of December 31, 
 2022               |           |     | 2023 |           |     | 2024 |           |
|:------------------------------|:----|:-------------------|----------:|:----|:-----|----------:|:----|:-----|----------:|
| Backlog                       |     | $                  |   353,384 |     | $    |   412,874 |     | $    |   563,562 |
| Awarded contracts             |     |                    |   244,170 |     |      |   299,422 |     |      |   292,222 |
| Backlog and awarded contracts |     | $                  |   597,554 |     | $    |   712,296 |     | $    |   855,784 |
| Book-to-bill                  
 ratio                         |     |                    |       1.1 |     |      |       1.3 |     |