Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 279

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 279
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IBLE FOR FUTURE SALE
Prior to this offering, there has been no public market for our Class A shares. Future sales of our Class A shares in the public market, or the availability of such Class A shares for sale in the public market, could adversely affect the market price of our Class A shares prevailing from time to time. As described below, only a limited number of Class A shares will be available for sale shortly after this offering due to contractual and legal restrictions on resale. Nevertheless, sales of a substantial number of our Class A shares in the public market after such restrictions lapse, or the perception that those sales may occur, could adversely affect the prevailing market price of our Class A shares at such time and our ability to raise equity‑related capital at a time and price we deem appropriate.

#### Sales of Restricted Class A shares
Upon the closing of this offering, we will have outstanding an aggregate of Class A shares. Of these Class A shares, all of the Class A shares (or Class A shares if the underwriters’ option to purchase additional Class A shares is exercised in full) to be sold in this offering, other than Class A Shares issued to GIC and WBR Holdings in connection with the merger of WB 892 with WaterBridge as described under “Corporate Reorganization” and any Class A shares sold pursuant to the directed share program, all of which may be subject to the lock‑up restrictions described under “Underwriting,” will be freely tradable without restriction or further registration under the Securities Act, unless the Class A shares are held or acquired by any of our “affiliates” as such term is defined in Rule 144 under the Securities Act. All remaining Class A shares held by our Existing Owners will be deemed “restricted securities” as such term is defined under Rule 144. The restricted securities were or will be issued and sold by us in private transactions and are eligible for public sale only if registered under the Securities Act or if they qualify for an exemption from registration under Rule 144 or Rule 701 under the Securities Act, which rules are summarized below.

In addition, subject to certain limitations and exceptions, each of the Five Point Members, Devon Holdco and Elda River will have the right, pursuant to the Redemption Right, to cause OpCo to acquire all or a portion of its respective OpCo Units for Class A shares (on a one‑for‑one basis with the cancellation of a corresponding number of Class B shares, subject to applicable conversion rate adjustments). Upon consummation of this offering,