Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 31

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 31
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 Holdco”) and contribute all of its equity interests in NDB Midstream to Devon Holdco in exchange for equity interests in Devon Holdco;

WBR Aggregator will form OpCo as a Delaware limited liability company; and

(i) WB 892 and WBR Aggregator will contribute all of their respective equity interests in WBEF to OpCo in exchange for newly issued common equity interests in OpCo; and (ii) NDB Holdings and Devon Holdco, which will collectively own 100% of the outstanding equity interests of NDB Midstream at such time, will contribute their respective equity interests in NDB Midstream to OpCo in exchange for newly issued common equity interests in OpCo such that, immediately following such contributions:

OpCo will directly own all of the outstanding equity interests in WBEF and NDB Midstream other than the WBEF Preferred Units held by the Legacy Preferred Holder; and

WBR Aggregator, NDB Holdings, Devon Holdco and GIC (collectively, our “Existing Owners”) will, either directly or through their respective equity interests in WB 892, own 100% of the outstanding common equity interests in OpCo.

Immediately following the consummation of the transactions described above, OpCo will cause certain of its subsidiaries to undergo a series of merger transactions, including the merger of NDB Midstream with and into WBEF, with WBEF surviving, and the merger of NDB Operating with and into WaterBridge Midstream Operating LLC (“WaterBridge Midstream”), a Delaware limited liability company and an indirect, wholly owned subsidiary of WBEF, with WaterBridge Midstream surviving. Following such merger transactions, WBEF will own all of the legacy assets and operations of WBEF, NDB Operating and their respective subsidiaries.

#### Corporate Reorganization
WaterBridge was formed as a Delaware limited liability company by NDB Holdings on April 11, 2025. WaterBridge intends to elect to be classified as a corporation for U.S. federal income tax purposes in the Corporate Reorganization. WaterBridge has not conducted and will not conduct any material business operations prior to the completion of the Corporate Reorganization, other than certain activities related to this offering. Immediately following the consummation of WaterBridge Combination described under “—WaterBridge Combination” above, OpCo will directly or indirectly own all of the outstanding equity interests of the subsidiaries through which we will operate our business other than the WBEF Preferred Units, which will continue to be held by the Legacy Preferred Holder