Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 142

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 142
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 abandonment of a well and associated facilities during the three months ended June 30, 2025.

|                                                                        |     | Three Months Ended June 30, |   2025 |     |   |   2024 |     | Amount of 
 Increase  | (Decrease) |   |     | Percentage | Change |    |
|:-----------------------------------------------------------------------|:----|:----------------------------|-------:|:----|:--|-------:|:----|:----------|-----------:|:--|:----|:-----------|-------:|:---|
| General and administrative expense, excluding share-based compensation |     | $                           |  5,477 |     | $ |  9,376 |     | $         |     (3,899 | ) |     |            |    (42 | )% |
| Share-based compensation                                               |     |                             |  5,776 |     |   |    665 |     |           |      5,111 |   |     |            |    769 | %  |
| Total general and administrative expense                               |     | $                           | 11,253 |     | $ | 10,041 |     | $         |      1,212 |   |     |            |     12 | %  |

General and administrative expense. General and administrative expense, excluding share-based compensation expense, decreased by $3.9 million for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. The decrease was primarily attributable to lower professional fees of $2.7 million related to modifications of our credit agreements and non-recurring litigation and $1.2 million in bad debt reserve related to an uncollectible customer account during the six months ended June 30 2024. Share-based compensation expense. Share-based compensation expense increased $5.1 million for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. The increase is attributable to the change in the fair value of the WaterBridge Resources and WaterBridge II incentive units accounted for as liability awards. Share-based compensation consists of the WaterBridge Resources and WaterBridge II incentive units. Such incentive units are classified as liability awards and shared-based compensation expense reflects the impacts of change in the liability remeasurement allocated to us. Any distributions associated with such incentive units are borne solely by WaterBridge Resources and WaterBridge II and not