Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 407

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 407
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 Compensation A summary of the Company’s aggregate share-based compensation expense is shown below. Substantially all share-based compensation expense is included in general and administrative expense on the consolidated statements of operations.

|                                  |     | 2025 | Three Months Ended 
           June 30, |     | 2024 |       |     | 2025 | Six Months Ended 
         June 30, |     | 2024 |       |
|:---------------------------------|:----|:-----|-------------------:|:----|:-----|------:|:----|:-----|-----------------:|:----|:-----|------:|
| Share-based compensation expense |     |      |              1,058 |     |      | 8,064 |     | $    |            1,382 |     | $    | 8,711 |

Incentive Units granted during the period were estimated using a Monte Carlo Simulation with the following inputs at the following grant date:

|                          |     | 3/21/2025 |         |   |
|:-------------------------|:----|:----------|--------:|:--|
| Estimated equity value   |     | $         | 318,713 |   |
| Expected life (in years) |     |           |     1.7 |   |
| Risk-free interest rate  |     |           |     3.9 | % |
| Dividend yield           |     |           |       0 | % |
| Volatility               |     |           |      40 | % |
| Marketability discount   |     | 19% - 32% |         |   |

A summary of the Incentive Units activity during the six months ended June 30, 2025 is shown in the following table:

|                                  |     | Incentive Units |        |     | Weighted Average Grant Date Fair Value |       |     | Weighted Average Remaining Contractual Term (years) |      |
|:---------------------------------|:----|:----------------|-------:|:----|:---------------------------------------|------:|:----|:----------------------------------------------------|-----:|
| Outstanding at December 31, 2024 |     |                 |  9,850 |     | $                                      | 7,990 |     |                                                     |      |
| Granted                          |     |                 |  8,480 |     |                                        |   733 |     |                                                     |      |
|