Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 492

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 492
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 |
| Payment of debt issuance costs                                                                    |     |   |             (118 | ) |     |   |              (15 | ) |
| Net cash provided by financing activities                                                         |     |   |              999 |   |     |   |           10,409 |   |
| Net change in cash and cash equivalents                                                           |     |   |            1,631 |   |     |   |              663 |   |
| CASH AND CASH EQUIVALENTS, beginning of year                                                      |     |   |            1,516 |   |     |   |              112 |   |
| CASH AND CASH EQUIVALENTS, end of year                                                            |     | $ |            3,147 |   |     | $ |              775 |   |
| NON CASH INVESTING AND FINANCING ACTIVITIES                                                       |     |   |                  |   |     |   |                  |   |
| Accrued capital expenditures                                                                      |     | $ |            1,741 |   |     | $ |            1,976 |   |
| Insurance financing note payable                                                                  |     | $ |                - |   |     | $ |              452 |   |
| Asset retirement obligation additions                                                             |     | $ |                1 |   |     | $ |            1,649 |   |

The Notes to the Unaudited Condensed Consolidated Financial Statements are an integral part of these statements.

<div align='center'>F-127

Desert Environmental LLC and Subsidiaries

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

Note 1. Organization and Nature of Operations

Desert Environmental LLC and Subsidiaries (together with its subsidiaries the Company, we, our, us) is a Delaware limited liability company that was formed on April 6, 2022 by entities affiliated with Five Point Energy Fund III LP (Fund III). Fund III currently holds a 93.34% indirect ownership interest in the Company.

On October 31, 2022, Fund III contributed, as a capital contribution, all of the issued and outstanding limited liability company interests of the Company to Desert Environmental Holdings LLC (the Parent). The Company is a wholly owned subsidiary of the Parent. The Company is governed by the Amended and Restated Limited Liability Company Agreement, dated September 15, 2023 (the LLC Agreement).

The consolidated financial statements include the