Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 440

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 440
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 of December 31, 2024, and 2023. Redeemable Noncontrolling Interests On December 26, 2018, WaterBridge Operating issued 100,000 Series A-1 Preferred Units (the “Operating Preferred Units”) as consideration for the acquisition of certain produced-water assets from a customer. On September 30, 2022 (the “Exchange Date”), WB Operating entered into a nonmonetary equity exchange agreement with Holdings and the customer, wherein the customer surrendered all of their Operating Preferred Units in exchange for 117,322 Series A-1 Preferred Units in Holdings (the “Holdings Preferred Units”).

<div align='center'>F-82</div>

### Notes to the Consolidated Financial Statements
The Holdings Preferred Units represented a noncontrolling interest in a subsidiary, Holdings, and such noncontrolling interests were subject to potential cash redemption that rests outside of the control of Holdings (“Redeemable Noncontrolling Interest”). The Company presented and accounted for the Redeemable Noncontrolling Interest as mezzanine equity in consideration of this cash redemption feature and in accordance with the guidance in ASC 480-10-S99 and ASC 810. The Redeemable Noncontrolling Interest was redeemable at the option of the holder, as such, the redeemable noncontrolling interest was remeasured to its redemption value using the effective yield method at each reporting date. On September 14, 2023 (the “Redemption Date”), Holdings executed a unit redemption agreement (the “Redemption Agreement”) wherein Holdings agreed to redeem the Holdings Preferred Units for aggregate consideration of $165.0 million (the “Redemption Price”). Of such Redemption Price, $150.0 million was delivered in cash on the Redemption Date with remaining $15.0 million to be delivered over the following three quarters in equal payment amounts of $5.0 million each (the “Deferred Redemption Payments”). The carrying value of the redeemable noncontrolling interest on the Redemption Date was $172.1 million. The fair value of the cash and the Deferred Redemption Payments exchanged was $164.5 million. The difference of $7.6 million from the extinguishment of the Holder Preferred Units resulted in a deemed contribution recognized in members’ equity. As a result, following the Redemption Date there were no Series A-1 Preferred Units of Holdings issued or outstanding, thus there are no amounts of Redeemable Noncontrolling Interest as of the year ended December 31, 2024, and