Slide 1: Second Quarter 2026 Earnings Presentation
Second Quarter 2026 Earnings Presentation August 13, 2026 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation (this “Presentation”) of Legence Corp. (“Legence,” “LGN,” the “Company,” “we,” “us” or “our”) contains forward-looking statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regardin
Slide 3: Disclaimer (cont’d)
Disclaimer (cont’d) Non-GAAP Financial Measures We disclose and discuss Adjusted EBITDA and Adjusted EBITDA Margin, Adjusted Gross Profit and Adjusted Gross Margin and Net Debt, Net Leverage and Adjusted Net Leverage as non-GAAP financial measures in this Presentation. Such financial measures are no
Slide 4: Disclaimer (cont’d)
Disclaimer (cont’d) Non-GAAP Financial Measures (cont’d) Our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies, have limitations as analytical tools and should not be considered in isolation, or as substitutes for analysis of our operating results
Slide 5: Second Quarter 2026 Performance Highlights
Second Quarter 2026 Performance Highlights Record quarterly revenue of $1.26 billion, increasing 111% year-over-year Revenues, excluding the Bowers acquisition, grew 60% year-over-year (non-GAAP)(1) Quarterly Adjusted Gross Profit (non-GAAP) increasing 80% year-over-year Quarterly Adjusted EBITDA (n
Slide 6: Second Quarter 2026 Performance Summary
Second Quarter 2026 Performance Summary Backlog & Awarded Contracts Revenue Adjusted Gross Profit Adjusted EBITDA ($ in millions) ($ in millions) ($ in millions) ($ in millions) $5,672 $1,262 $234 $155 $130 $2,773 $599 $72 Q2'26A Q2'25A Q2'26A Q2'25A Q2'26A Q2'25A Q2'26A Q2'25A % Adjusted % Adjusted
Slide 7: Revenue by Segment and Service Line
Revenue by Segment and Service Line Legence Corp. Consolidated Results Three Months Ended June 30, Year over Year ($ in thousands) 2026 2025 Change $ % $ % $ % Engineering & Consulting: Engineering & Design ….............................................................. $ 102,348 8.1% $ 106,685 17.8
Slide 8: Revenue by Building Type and End Market
Revenue by Building Type and End Market Legence Corp. Consolidated Results ($ in thousands) Three Months Ended June 30, Year over Year 2026 2025 Change $ % $ % $ % Revenue by Building Type Existing building …...................................…....................................... $ 476,932 37.8%
Slide 9: Backlog and Awarded Contracts by Service Line
Backlog and Awarded Contracts by Service Line $5.67 billion $2.77 billion Backlog & Awarded Contracts Backlog & Awarded Contracts June 2026 June 2025 Project & Program Management Project & Program Installation & Installation & 13% Management Fabrication Fabrication Engineering 19% 77% 65% & Design 7
Slide 10: Backlog and Awarded Contracts by Building Type
Backlog and Awarded Contracts by Building Type $5.67 billion $2.77 billion June 2026 Backlog & Awarded Contracts June 2025 Backlog & Awarded Contracts June 2026 June 2025 Existing New Building Building 40% 50% New Building Existing 60% Building 50% 10
Slide 11: Backlog and Awarded Contracts by End Market
Backlog and Awarded Contracts by End Market $5.67 billion $2.77 billion Backlog & Awarded Contracts Backlog & Awarded Contracts June 2026 June 2025 Other Other 12% State & Local 16% Government Data Centers & Data Centers & 5% Technology State & Local Technology Mixed-Use 60% Government 36% 1% 6% Mix
Slide 12: Capitalization
Capitalization ($ in millions) June 30, 2026 December 31, 2025 Cash and Cash Equivalents $ 292 $ 230 Term Loan 993 798 Notes Payable 34 27 (1) Total Debt 1,026 825 Net Debt (1) $ 734 $ 595 Legence LTM adjusted EBITDA $ 448 $ 299 Net Leverage 1.6 2.0 (2) LTM combined adjusted EBITDA $ 500 Adjusted Ne
Slide 13: Guidance as of August 13, 2026
Guidance as of August 13, 2026 Third Quarter 2026 Full Year 2026 Total Revenue $1.225 - 1.275 billion $4.7 - 4.8 billion Adjusted EBITDA $150 - 160 million $565 - 585 million Note: Adjusted EBITDA is a non-GAAP financial measure. Refer to appendix and the Disclaimer at the beginning of this Presenta
Slide 14: Appendix
Appendix ZEISS INNOVATION CENTER (Dublin, CA) - Mission-critical R&D and production facilities - Powered by solar energy and supported by light & air controls and a heat recovery system
Slide 15: Adjusted Gross Profit and Adjusted Gross Margin Reconciliation
Adjusted Gross Profit and Adjusted Gross Margin Reconciliation Legence Corp. Consolidated Results ($ in thousands) Three Months Ended June 30, 2026 2025 Gross Profit Engineering & Consulting Segment Gross Profit $ 56,148 $ 64,111 Installation & Maintenance Segment Gross Profit 164,083 64,563 Consoli
Slide 16: Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation Twelve Legence Corp. Consolidated Results Three Months Ended Six Months Ended Year Ended Months ($ in thousands) June 30, June 30, December 31, June 30, 2026 2025 2026 2025 2025 2026 Net income (loss) $ (34,564) $ (3,869) $ (17,170) $ (23,008
Slide 17: Bowers EBITDA Reconciliation LTM combined adjusted EBITDA
Bowers EBITDA Reconciliation Six Months Ended ($ in thousands) December 31, 2025 Net Income $ 48,876 Interest Income (1,256) Interest Tax Expense 2,827 Depreciation and Amortization 885 EBITDA $ 51,332 LTM combined adjusted EBITDA Six Months Ended Six Months Ended Twelve Months Ended ($ in thousands
Slide 18: Subcontractor and Equipment Expense Overview
Subcontractor and Equipment Expense Overview Subcontractor Expense Equipment Expense ($ in millions) ($ in millions) $342 $213 $116 $125 Q2'26A Q2'25A Q2'26A Q2'25A Subcontractor Equipment % of Revenue 16.9% 19.4% % of Revenue 27.1% 20.8% Note: Subcontractor Expense represents the cost of third-part