Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 473

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 473
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 a three-year performance incentive agreement with a maximum potential payout of $9.0 million if certain annual incentive criteria are achieved. Incentive payments are determined quarterly based on the completion of qualifying oil and gas producing wells, as defined in the related agreement, developed by the counterparty on a cumulative basis. The quarterly payment equals $300,000 multiplied by the number of qualifying wells completed in excess of four during each year. No payment is earned if the number of qualifying wells is less than the applicable well threshold in

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WaterBridge Equity Finance LLC and Subsidiaries

Notes to the Unaudited Condensed Consolidated Financial Statements</div>

any given year. As of June 30, 2025 and December 31, 2024, we recorded $2.1 million, and $4.8 million in contingent consideration, respectively, on the consolidated balance sheets. During the three months ended June 30, 2025, the Company paid $2.1 million in incentive payments. During the six months ended June 30, 2025 and 2024, the Company paid $2.7 million and $0.9 million in incentive payments, respectively.

Other

On April 3, 2025, a subsidiary of the Company received an enforcement notice from the Railroad Commission of Texas (“RRC”) seeking reimbursement for up to $7.0 million in expenses incurred by the RRC in connection with the plugging of an orphan well located in proximity to a produced water handling facility operated by the Company. No formal proceeding has been initiated. The Company believes the action is without merit and timing of resolution is uncertain. As of June 30, 2025, the Company has no amounts accrued related to this matter.

11. Subsequent Events

The Company has evaluated subsequent events from the date of the balance sheet through August 3, 2025, the date these Financial Statements were available to be issued and determined there are no subsequent events to disclose.

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|                      | 4400 Post Oak Parkway, Suite 1100 |
| Houston, Texas 77027 |                                   |
| 713-850-8787         |                                   |

Independent Au ditor’s Report To the Managing Member of Desert Environmental LLC and Subsidiaries Houston, Texas Opinion We have audited the consolidated financial statements of Desert Environmental LLC and subsidiaries (the “Company”), which comprise the consolidated balance sheets as of December 31