Company: LGN
Filing Date: 2025-02-14
Form Type: DRS
Source: 0000950123-25-002471
Chunk: 188

Company: Legence Corp.
Filing Date: 2025-02-14
Form: DRS
Chunk 188
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 defined under the Tax Receivable Agreement, which includes certain mergers, asset sales and other forms of business combinations and certain changes to the composition of the Legence board of directors) with respect to any taxable periods ending on or after such early termination event, in each case, as a result of (i) Legence’s allocable share of existing tax basis acquired in connection with this offering and increases to such allocable share of existing tax basis; (ii) Legence’s utilization of certain tax attributes of the Blocker Entities; (iii) Basis Adjustments; and (iv) certain additional tax benefits arising from payments made under the Tax Receivable Agreement. Legence will retain the benefit of the remaining 15% of these cash savings, if any. If the Tax Receivable Agreement terminates early, we could be required to make a substantial, immediate lump-sumpayment. “Certain Relationships and Related Party Transactions—Tax Receivable Agreement” contains more information. The Corporate Reorganization will be accounted for as a reorganization of entities under common control. As a result, the consolidated financial statements of Legence will recognize the assets and liabilities received in the reorganization at their historical carrying amounts, as reflected in the historical financial statements of Legence Holdings. Legence will consolidate Legence Holdings on its consolidated financial statements and record a non-controllinginterest related to the LGN Units held by the LGN Unit Holders. The following diagram depicts our simplified ownership structure immediately following this offering and the transactions related thereto (assuming that the underwriters’ option to purchase additional shares is not exercised):

| (1) | Following the Corporate Reorganization, Blackstone and the Management Members will hold the outstanding                                                                                                                                
 membership interests of the Legence Aggregators. Blackstone will serve as the managing member of each Legence Aggregator and as a result, may be considered to beneficially own all of our securities held by the Legence Aggregators. |

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Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83 We have granted the underwriters a 30-dayoption to purchase up to an aggregate of additional shares of Class A Common Stock. We intend to use a portion of the net proceeds received from the sale of additional shares to repurchase a portion of the shares of Class A Common Stock held by Legence Investment Aggregator II and the remaining portion of such net proceeds from the sale of additional shares will be contributed to Legence Holdings in exchange for additional LGN Units, and