SOLV Energy (MWH) Registration Filing summary

Company overview and business model

• Operates as a holding company with principal asset being an equity interest in SOLV Energy Holdings LLC, conducting business through this subsidiary and its affiliates.

• Structured as an “Up-C” with public shareholders owning Class A common stock and pre-IPO owners holding economic interests in the LLC exchangeable for Class A shares.

• Engaged in a reorganization prior to IPO, including recapitalization and the establishment of a dual-class share structure.

Financial performance and metrics

• Financial statements prepared in accordance with US GAAP, presenting fairly the financial position and results of operations.

• No material adverse change in capital stock, debt, or business since the most recent financial statements, except as disclosed.

• Pro forma financial information included, with reasonable assumptions disclosed.

Use of proceeds and capital allocation

• Net proceeds from the IPO will be used to purchase newly issued common units from the operating company, with additional proceeds from any over-allotment option used similarly.

• Proceeds may also be used for general corporate purposes as described in the prospectus.