Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 5

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 5
---
Co Units (along with a corresponding number of our Class B shares) are redeemed for our Class A shares (or, at our election, for cash) over time, the relative economic interests of WaterBridge and our public shareholders in OpCo’s economic results will increase relative to those of the other holders of OpCo Units, including Five Point and its affiliates.

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

### Financial and Operating Data Presentation
Unless otherwise indicated, the historical financial and operating data presented herein generally consists of the financial and operating results of WBEF, WaterBridge NDB Operating LLC, a Delaware limited liability company (“NDB Operating”), and Desert Environmental and its subsidiaries. NDB Operating is an indirect, wholly owned subsidiary of NDB Midstream that indirectly owns all of the assets and operations of NDB Midstream. Prior to the WaterBridge Combination, NDB Midstream did not have any material operations, liabilities or assets other than its indirect ownership of NDB Operating. In connection with the WaterBridge Combination, OpCo will directly or indirectly acquire all of the equity interests in the Contributed Entities and their respective subsidiaries, including NDB Operating.

Immediately following the WaterBridge Combination, OpCo will have no operations, income (loss), liabilities or material assets, other than its ownership of all of the outstanding equity interests in the Contributed Entities. Following the WaterBridge Combination, the financial results of WBEF, NDB Operating and Desert Environmental will be included in the consolidated financial results of OpCo, and following this offering, the financial results of OpCo will be included in the consolidated financial statements of WaterBridge.

In certain instances in this prospectus, we present financial and operating data on a “pro forma” or “pro forma, as adjusted” basis, as applicable. As used herein and as applicable based on the periods presented, these references have the following meanings:

the term “pro forma” when used with respect to financial data refers to the combined historical financial data of WBEF, NDB Operating, Desert Environmental and their respective subsidiaries, as adjusted to give effect to the WaterBridge Combination, unless otherwise indicated; and

the term “pro forma, as adjusted” when used with respect to financial data refers to the combined historical financial data of WBEF, NDB Operating, Desert Environmental and their respective subsidiaries, as adjusted to give effect to the WaterBridge Combination, the Corporate Reorganization and this offering and the application of the net proceeds therefrom, unless otherwise indicated.

Unless otherwise indicated, pro forma financial data