Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 256

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 256
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”) and Series C Common Interests (“Series C Common
Interests”), which includes Restricted Series C Common Interests (“Restricted Series C Common Interests”), (together with Series B Common Interests, “Legence Parent Common Interests”), each with specific terms and
conditions.

Series A Profits Interests were granted to employees of Legence Holdings and its subsidiaries and are comprised of Time Interests,
Performance Interests, and Exit Interests. Series B Common Interests were held by BX Refficiency Aggregator LP. Series C Common Interests are held by certain members of Legence Holdings’

F-12

Legence Corp. Notes to Condensed Consolidated Financial Statements - (Continued) (Unaudited) management and former owners of acquired companies who received Series C Common Interests as part of the consideration transferred. Restricted Series C Common Interests were issued in connection with an acquisition as compensation for future services to certain of the acquiree’s former shareholders and employees who became Legence Holdings’ employees in connection with the acquisition. Corporate Reorganization The Corporate Reorganization included the following:

| a. | The Limited Liability Company Agreement of Legence Holdings was amended and restated to, among other things,                                                                                                                   
 (i) make Legence Corp. the managing member of Legence Holdings and (ii) recapitalize the ownership interests in Legence Holdings into two classes of limited liability company interests with the same economic rights (“LGN A 
 Units” and “LGN B Units”, collectively “LGN Units”).                                                                                                                                                                           |

| b. | Certain entities were formed and reorganized as follows: |

| 1. | Legence Parent LLC (“Legence Parent”) formed Legence Corp. |

| 2. | Legence Intermediate LLC (“Legence Intermediate”) distributed a portion of its interests in Legence                                                                                                            
 Holdings to Legence Parent, which then distributed a portion of such interests to certain Blackstone Inc. (“Blackstone”) entities and management holders that held equity in Legence Parent (“Legacy Owners”). |

| 3. | Certain Legacy Owners contributed a portion of their interests in Legence Holdings (either directly or                                                                                                                                            
 indirectly through certain Blackstone entities) to Legence Corp. and Legence Intermediate contributed a portion of its interests in Legence Holdings to Legence Corp, all in exchange for 29,022,940 shares of newly issued Class A Common Stock. |

| 4. | Certain Legacy Owners contributed its 28,844,369 shares of Class A Common Stock received to