Company: WBI
Filing Date: 2025-09-18
Form Type: 8-K
Source: 0001193125-25-207591
Chunk: 7

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 8-K
Item: Item 1.01
Chunk 7
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 Right only if a holder of an OpCo Unit first exercises its Redemption Right, and a holder of an OpCo Unit may exercise its Redemption Right beginning immediately following the consummation of the Offering. As the sole managing member of OpCo, the Company’s decision to pay the Cash Election Amount upon an exercise of the Redemption Right or Call Right may be made by a conflicts committee consisting solely of independent directors. In connection with any redemption of OpCo Units pursuant to the Redemption Right or acquisition of OpCo Units pursuant to the Call Right, a corresponding number of Class B shares held by the redeeming holder will be automatically cancelled.

For so long as a redeeming holder and its affiliates own at least 40% of the voting power of the Company, (i) OpCo may elect to settle a redemption by such holder in cash only to the extent that, prior to or contemporaneously with making such election, the Company issues a number of equity securities at least equal to the number of OpCo Units subject to such redemption and contributes to OpCo an amount in cash equal to the net proceeds received by the Company from the issuance of such equity securities, and (ii) the Company may make a cash election in connection with its exercise of the Call Rights with respect to a redemption by such holder only to the extent that, prior to or

contemporaneously with making such election, the Company issues a number of equity securities at least equal to the number of OpCo Units subject to such redemption (in each case, the “ Equity Offering Condition”).

The foregoing description is qualified in its entirety by reference to the full text of the OpCo LLC Agreement, which is attached as Exhibit 4.2 to this Current Report on Form 8‑ K and is incorporated in this Item 1.01 by reference.

Shareholders’ Agreement

On September 18, 2025, in connection with the closing of the Offering, the Company entered into a shareholders’ agreement (the “ Shareholders’ Agreement”) with the Five Point Members and Devon Holdco (collectively, the “ Initial Shareholders”). Among other things, the Shareholders’ Agreement provides that the parties thereto will take all necessary action (including voting or causing to be voted all of our common shares beneficially owned by each) so that no amendment is made to the PubCo LLC Agreement (as defined below) in effect as of the date of the Shareholders’ Agreement that would (a) add restrictions to the transferability of common shares by any such shareholder that are beyond those