Company: WBI
Filing Date: 2025-04-18
Form Type: DRS
Source: 0000950123-25-003575
Chunk: 44

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-04-18
Form: DRS
Chunk 44
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 |       138 |    |     |                              |       169 |   |     |                              |       107 |   |     |                              |
| Selected Balance Sheet Data (at end of period): |     |                              |           |    |     |                              |           |    |     |                              |           |   |     |                              |           |   |     |                              |
| Cash and cash equivalents                       |     | $                            |    47,887 |    |     | $                            |    38,042 |    |     | $                            |    13,284 |   |     | $                            |    12,869 |   |     |                              |
| Total assets                                    |     | $                            | 1,589,276 |    |     | $                            | 1,677,163 |    |     | $                            | 1,350,587 |   |     | $                            | 1,074,354 |   |     |                              |
| Long-term debt                                  |     | $                            | 1,101,321 |    |     | $                            | 1,083,559 |    |     | $                            |   586,417 |   |     | $                            |   337,568 |   |     |                              |
| Total liabilities                               |     | $                            | 1,193,299 |    |     | $                            | 1,202,304 |    |     | $                            |   687,538 |   |     | $                            |   423,826 |   |     |                              |

(1) Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Margin and Adjusted Operating Margin per Barrel are non-GAAP financial measures. See “—Summary Historical and Pro Forma Financial Data—Non-GAAP Financial Measures” below for more information regarding these non-GAAP measures and reconciliations to the most comparable GAAP measures.

28

### Non-GAAP Financial Measures
Adjusted EBITDA and Adjusted EBITDA Margin

Adjusted EBITDA and Adjusted EBITDA Margin are used by our management and by external users of our financial statements, such as investors, research analysts and others, to assess the financial performance of our assets over the long term to generate sufficient cash to return capital to equity holders or service indebtedness. We define Adjusted EBITDA as net income (loss) before interest; taxes; depreciation, amortization