Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 260

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 260
---
 26.7% of our common shares;

the Five Point Members will collectively own 3,411,735 of our Class A shares and 58,682,925 of our Class B shares, representing 52.3% of our common shares, and an approximate 49.4% interest in OpCo;

Devon Holdco will own 17,757,225 of our Class B shares, representing 15.0% of our common shares, and an approximate 15.0% interest in OpCo;

Elda River will own 3,750,000 of our Class B shares, representing 3.2% of our common shares, and an approximate 3.2% interest in OpCo;

GIC will own 3,398,115 of our Class A shares, representing 2.9% of our common shares; and

WaterBridge will own an approximate 32.4% interest in OpCo and will serve as the managing member of OpCo.

Our organizational structure following the offering and the Corporate Reorganization is commonly referred to as an Up-C structure. Pursuant to this structure, following this offering we will hold a number of OpCo Units equal to the number of our issued and outstanding Class A shares, and OpCo Unitholders (other than us) will hold a number of OpCo Units equal to the number of our issued and outstanding Class B shares. The Up-C structure was selected in order to (i) provide our Existing Owners with an option to continue to hold their economic ownership interests in our business in “pass-through” form for U.S. federal income tax purposes through their ownership of OpCo Units and (ii) potentially allow our Existing Owners and us to benefit from certain net cash tax savings that we might realize in the future, as more fully described in the subsection titled “Certain Relationships and Related Party Transactions—Tax Receivable Agreement.”

<div align='center'>176</div>

The diagrams under “Summary—Organizational Structure” depict a simplified version of our organization and ownership structure immediately before and after giving effect to this offering and the Corporate Reorganization.

For further details on our agreements with OpCo and its affiliates, please see “Certain Relationships and Related Party Transactions.”

Only our Class A shares will have economic rights and entitle holders thereof to participate in any dividends our board of directors may declare. Each holder of a Class A share will be entitled to one vote on all matters to be voted on by our shareholders generally. We have been authorized to list our Class