Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 215

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 215
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 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

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, 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.

Following the Corporate Reorganization, WaterBridge will be a holding company, the sole material asset of which will consist of limited liability company interests in OpCo, which will directly or indirectly own all of the outstanding equity interests of the subsidiaries through which WaterBridge will operate its business, and WaterBridge will be the sole managing member of OpCo, will be responsible for all operational, management and administrative decisions relating to OpCo’s business and will consolidate financial results of OpCo and its subsidiaries.

In connection with the completion of this offering, the following transactions will occur in the following order:

NDB Holdings will cause WaterBridge to amend and restate its operating agreement to facilitate this offering;

the Legacy Preferred Holder and OpCo will cause WBEF to merge with and into OpCo, with OpCo surviving, in exchange for the issuance of certain preferred equity interests in OpCo to the Legacy Preferred Holder;

WaterBridge will elect to be classified as a corporation for U.S. federal income tax purposes, and immediately thereafter, WBR Aggregator and GIC will cause WB 892 to merge with and into WaterBridge, with WaterBridge surviving, in exchange for the issuance of an aggregate Class A shares to WBR Aggregator and GIC;

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WaterBridge will issue Class A shares in this offering to the public, in exchange for the proceeds of this offering, at a price of $ per Class A