Company: LGN
Filing Date: 2025-05-14
Form Type: DRS/A
Source: 0000950123-25-005247
Chunk: 112

Company: Legence Corp.
Filing Date: 2025-05-14
Form: DRS/A
Chunk 112
---
 2024, as follows: Adjustments related to the Corporate Reorganization and Offering Transactions

| e) | Following the Corporate Reorganization, Legence will be subject to U.S. federal income taxes, in addition to                                                                                                                                            
 state and local taxes. As a result, the unaudited pro forma condensed consolidated statement of operations reflects an adjustment to our taxes assuming the federal rates currently in effect and the highest statutory rates apportioned to each state 
 and local jurisdiction.                                                                                                                                                                                                                                 |

| f) | As described in “Corporate Reorganization,” upon completion of the Corporate Reorganization, Legence                                                                                                    
 will become the managing member of Legence Holdings. As a result of the Transactions, Legence will initially own (including through the Pubco Subsidiaries) approximately % of the economic interest in |

74

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83

| Legence Holdings. Additionally, Legence will have (including through the Pubco Subsidiaries)  % of the voting power, thereby controlling the management of Legence Holdings. Immediately                                                       
 following the completion of this offering, the ownership percentage held by noncontrolling interests will be approximately %. Net earnings attributable to the noncontrolling interests will represent % of net earnings before income taxes.  
 These amounts have been determined based on an assumption that the underwriters’ option to purchase additional shares is not exercised. If the underwriters’ option to purchase additional shares is exercised in full and after giving effect 
 to the application of the net proceeds therefrom, the ownership percentage held by the noncontrolling interest would decrease to %.                                                                                                            |

| i) | The basic and diluted pro forma net loss per share of Class A Common Stock represents net loss                                                                                                                                                  
 attributable to Legence divided by the combination of the shares owned by existing owners and the Class A Common Stock issued in this offering. The noncontrolling interest owners own shares of Class B Common Stock. These shares of          
 Class B Common Stock are not considered participating securities because they have no right to receive dividends or a distribution on liquidation or winding up of Legence, and no earnings are allocable to such class. Accordingly, basic and 
 diluted earnings per share of Class B Common Stock has not been presented. The table below presents the computation of pro forma basic and dilutive loss per share for Legence (in thousands, except per share amounts):                        |

|                                                                       |