Company: LGN
Filing Date: 2025-11-03
Form Type: DRS
Source: 0001193125-25-262782
Chunk: 251

Company: Legence Corp.
Filing Date: 2025-11-03
Form: DRS
Chunk 251
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 other mechanical, electrical and plumbing (“MEP”) systems for new facilities and upgrading HVAC, lighting
and building controls in existing facilities to make them more energy efficient and sustainable. Services are primarily provided on a fixed price basis.

The Company was formed as a single-member limited liability company under the laws of the State of Delaware on October 30, 2020. Legence
is a wholly-owned subsidiary of Legence Intermediate LLC (“Member”) which is a wholly-owned subsidiary of Legence Parent LLC (“Parent”). The powers of Legence will be exercised by the authority of Parent, as the
Company’s ultimate parent. Parent has designated certain individuals as officers of the Company.

Note 2—Summary of Significant Accounting Policies

The Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles
(“U.S. GAAP”).

Principles of Consolidation

The Consolidated Financial Statements include the accounts of Legence, its wholly owned subsidiaries and certain Variable Interest Entities
(“VIE”) of which the Company is the primary beneficiary. Legence assesses whether it is the primary beneficiary of a VIE, which is the case if the Company, in combination with its related parties, has both (1) the power to direct
the activities of the VIE that most significantly affect the VIE’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. When Legence is deemed to
be the primary beneficiary, the VIE is consolidated and the equity interest in the VIE held by a third-party is accounted for as a noncontrolling interest.

For VIEs that are not consolidated, the Company accounts for its investments using the equity method.

All intercompany accounts and transactions have been eliminated.

Please refer to “” for additional information.

Financial statement reclassification

Certain previously reported amounts have been reclassified to conform to the current year presentation in the Consolidated Financial
Statements. Interest expense, net of capitalized interest and Interest income on the Consolidated Statements of Operations were previously reported on a combined basis, but given the materiality of Interest income in the current year, they are
presented separately. This reclassification had no net effect on the Company’s reported results of operations.

Business Combinations

Business combinations are recorded in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations(“ASC 805”). Under the acquisition method of accounting, the consideration

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