Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 270

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 270
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 may exercise voting and dispositive power over the Class B shares held by Desert Holdings and may be deemed to be the beneficial owner thereof. Mr. Capobianco disclaims beneficial ownership of the Class B shares in excess of his pecuniary interest therein. The address for each of the foregoing entities and individual is c/o 5555 San Felipe Street, Suite 1200, Houston, Texas 77056.

Consists of 17,692,370 Class B shares held by Devon Holdco. As the indirect owner of 100% of the outstanding membership interests in Devon Holdco, Devon Energy Corporation may be deemed to beneficially own all of the shares held by Devon Holdco. Devon Energy Corporation is a publicly traded company listed on the New York Stock Exchange. The address for each of the foregoing entities is 333 West Sheridan Avenue, Oklahoma City, Oklahoma 73102.

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### CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
The OpCo LLC Agreement is filed as an exhibit to the registration statement of which this prospectus forms a part, and the following description of the OpCo LLC Agreement is qualified in its entirety by reference thereto.

Following this offering, under the OpCo LLC Agreement, each holder of an OpCo Unit (other than WaterBridge) will, subject to certain limitations, have a Redemption Right to cause OpCo to acquire all or a portion of its OpCo Units (along with the cancellation of a corresponding number of our Class B shares) for, at OpCo’s election, (i) Class A shares at a redemption ratio of one Class A share for each OpCo Unit redeemed, subject to applicable conversion rate adjustments, or (ii) cash in an amount equal to the Cash Election Amount of such Class A shares, subject to the Equity Offering Condition. OpCo will determine whether to issue Class A shares or pay cash in an amount equal to the Cash Election Amount in lieu of the issuance of Class A shares based on facts in existence at the time of the decision, which we expect would include the relative value of the Class A shares (including the trading price for the Class A shares at the time), the cash purchase price, the availability of other sources of liquidity (such as an issuance of additional common shares) to acquire the OpCo Units and alternative uses for such cash. Alternatively, upon the exercise of the Redemption Right, we (instead of OpCo) will have the Call Right to, for administrative convenience, acquire each tendered Op