Company: LGN
Filing Date: 2025-07-15
Form Type: DRS/A
Source: 0000950123-25-006399
Chunk: 214

Company: Legence Corp.
Filing Date: 2025-07-15
Form: DRS/A
Chunk 214
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 if the underwriters exercise in full their option to purchase additional shares of Class A Common Stock and after giving effect to the application of the net proceeds therefrom). |

Effect of the Corporate Reorganization The Corporate Reorganization is intended to create a holding company that will facilitate public ownership of, and investment in, us and to be structured in a tax-efficientmanner for the Existing Owners and is intended to provide tax advantages to the public company and such Existing Owners. The Existing Owners that will hold through Aggregator I desire that their investment maintain its existing tax treatment as a partnership for U.S. federal income tax purposes not subject to entity-level tax and, therefore, will continue to hold their ownership 147

Confidential Treatment Requested by Legence Corp.

Pursuant to 17 C.F.R. Section 200.83

interests indirectly in Legence Holdings until such time in the future as they or Aggregator I may elect to cause us to redeem or exchange their LGN Units and a corresponding number of
Class B Common Stock for a corresponding number of shares of our Class A Common Stock. Additionally, because Aggregator I is entitled to have its LGN Units and a corresponding number of Class B Common Stock redeemed or exchanged for a
corresponding number of shares of our Class A Common Stock, the UP-C structure also provides the Existing Owners that will hold through Aggregator I with potential liquidity for their LGN Units that
holders of non-publicly traded limited liability companies are not typically afforded.

The UP-C structure also provides future tax benefits for both the public company and certain of the Existing Owners. As described further below under “—Holding Company Structure” and “Certain
Relationships and Related Party Transactions—Tax Receivable Agreement,” additional acquisitions by Legence of LGN Units from Aggregator I or any of the Existing Owners that will own an interest in Legence Holdings through Aggregator I and
any future taxable redemptions or exchanges by the LGN Unit Holders of LGN Units for shares of our Class A Common Stock are expected to result in tax basis adjustments with respect to the assets of Legence Holdings that will be allocated to us
and thus produce favorable tax attributes for us. These tax attributes are expected to reduce the amount of tax that we would otherwise be required to pay in the future. While the Tax Receivable Agreement will require us to pay the TRA Members 85%
of the amount of cash savings, if any, in our U.S. federal, state and local income tax or franchise