Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 282

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 282
---
 (PCAOB ID Number 34)                                              
 Consolidated Balance Sheets as of December 31, 2024 and 2023                                                              
 Consolidated Statements of Operations for the Years Ended December 31, 2024 and 2023                                      | F-53 
 F-54 
 F-55 |
|:--------------------------------------------------------------------------------------------------------------------------|:-----|
| Consolidated Statements of Changes in Mezzanine Equity and Members’ Equity for the Years Ended December 31, 2024 and 2023 | F-56 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2024 and 2023                                      | F-57 |
| Notes to the Consolidated Financial Statements                                                                            | F-58 |

| Unaudited Condensed Consolidated Financial Statements                                                                                             
 Unaudited Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024                                                        
 Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024                                      | F-82 
 F-83 |
|:--------------------------------------------------------------------------------------------------------------------------------------------------|:-----|
| Unaudited Condensed Consolidated Statements of Changes in Mezzanine Equity and Members’ Equity for the Three Months Ended March 31, 2025 and 2024 | F-84 |
| Unaudited Condensed Consolidated Statements of Cash Flows for the Months Ended March 31, 2025 and 2024                                            | F-85 |
| Notes to the Unaudited Condensed Consolidated Financial Statements                                                                                | F-86 |

<div align='center'>F-1</div>

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Managers of NDB Holdings LLC

Opinion on the Financial Statement

We have audited the accompanying balance sheet of WaterBridge Infrastructure LLC (the “Company”) as of April 11, 2025, and the related notes (collectively referred to as the “financial statement”). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of April 11, 2025 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

This financial statement is the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States)