Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 375

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 375
---
 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Houston, TX
April 17, 2025

We have served as the Company’s auditor since 2025.

<div align='center'>F-56</div>

WaterBridge Equity Finance LLC and Subsidiaries Consolidated B alance Sheets (in thousands)

| Current assets:                                                                                                                                                                                                                                          |     | December 31, 
 2024         |           |     | 2023 |           |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-------------|----------:|:----|:-----|----------:|
| Cash and cash equivalents                                                                                                                                                                                                                                |     | $            |    47