Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 116

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 116
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 in respect of our Class A shares based on the factors described above, holders of our Class A shares may not necessarily receive dividends, even if OpCo makes such distributions to us.

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CAP ITALIZATION The following table sets forth our cash and cash equivalents and capitalization as of March 31, 2025, as follows: • on an actual basis for WaterBridge, the registrant; • on an actual basis for WBEF and NDB Operating, our predecessors; • on a pro forma basis to give effect to the WaterBridge Combination; and • on a pro forma, as adjusted, basis to give effect to the WaterBridge Combination, the Corporate Reorganization and this offering at the assumed initial offering price of $ per Class A share (the midpoint of the price range set forth on the cover of this prospectus) and the application of the net proceeds therefrom as described under the section titled “Use of Proceeds.” The information set forth below is illustrative only and will be adjusted based on the actual public offering price and other final terms of this offering. The table below should be read in conjunction with, and is qualified in its entirety by reference to, the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the historical consolidated financial information of OpCo and our unaudited pro forma condensed combined financial information for the periods and as of the dates indicated.

|                                                                                                                                                                          |     | As of March 31, 2025                          |   |     |               |           |   |     |                        |           |   |     |           |           |   |     |                        |           |   |
|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:----------------------------------------------|:--|:----|:--------------|----------:|:--|:----|:-----------------------|----------:|:--|:----|:----------|----------:|:--|:----|:-----------------------|----------:|:--|
|                                                                                                                                                                          |     | Actual (WaterBridge)                          |   |     | Actual (WBEF) |           |   |     | Actual (NDB Operating) |           |   |     | Pro Forma |           |   |     | Pro Forma, As Adjusted |           |   |
|                                                                                                                                                                          |     | -in thousands, except number of common shares |   |     |               |           |   |     |                        |           |   |     |           |