Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 163

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 163
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                           | 28,285 |   |     |   | 23,172 |     |           |      5,113 |   |     |            |     22 | %  |
| Capitalized interest on credit facilities |     |                           | (4,060 | ) |     |   |      - |     |           |      4,060 |   |     |            |    100 | %  |
| Total interest expense, net               |     | $                         | 24,225 |   |     | $ | 23,172 |     | $         |      1,053 |   |     |            |      5 | %  |

<div align='center'>109</div>

Interest expense, net. Interest expense, net increased $1.1 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 primarily due to higher total indebtedness, which resulted in an additional $6.7 million in interest expense. This increase was driven by borrowings used to fund asset acquisitions and capital expenditures related to the continued expansion of our produced water handling infrastructure network. This is partially offset by capitalized interest of $4.1 million associated with a large capital project. Additionally, debt issuance cost amortization decreased $1.6 million due a $2.6 million write-off during the six months ended June 30, 2024 related to amending our NDB Revolving Credit Facility partially offset by debt issuance costs and related amortization associated with our term loan facility entered into in May 2024. See “—Liquidity and Capital Resources” for additional information regarding the Company’s debt instruments and interest expense. Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023 WaterBridge NDB Operating LLC

|                                          | (in thousands) | Year Ended December 31, |    2024 |   |     |   |    2023 |   |     | Amount of 
 Increase  | (Decrease) |   |     | Percentage | Change |    |
|:-----------------------------------------|:---------------|:------------------------|--------:|:--|:----|:--|--------:|:--|:----|:----------|-----------:|:--|:----|:-----------|-------:|:---|
| Revenues:                                |                |                         |         |   |     |   |