X = ((iLvl - eLvl) + 20) / 120.0
1 LP chance ~ X^ 1.304 * 0.64
2 LP chance ~ X ^ 1.976 * 0.38
3 LP chance ~ X ^ 2.6 * 0.19
4 LP chance ~ X ^ 5.8 * 0.08
That's the approximate formula. Here iLvL is the zone level where the item dropped (100 for empowered mono and T4 dungeon). eLvL is the "effective level" of the legendary, which is just some arbitrary value set by EHG. Can not be lower than the required level of the item. For the mace it's 90 (despite the mace requiring lvl 76). It can be checked on LEtools for each given unique.