Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 136

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 136
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 shares issued and outstanding (pro forma, as adjusted) |     |                                               | - |     |               |         - |   |     |                        |         - |   |     |                               |      - |   |     |           |         - |   |     |                        |         - |   |
| Noncontrolling interest(2)                                                                                                                                         |     |                                               | - |     |               |         - |   |     |                        |         - |   |     |                               |      - |   |     |           |         - |   |     |                        | 1,163,207 |   |
| Total capitalization                                                                                                                                               |     | $                                             | - |     | $             | 1,478,536 |   |     | $                      | 1,313,647 |   |     | $                             | 45,143 |   |     | $         | 3,280,271 |   |     | $                      | 3,333,927 |   |

(1) As of August 31, 2025, we had $1,166.4 million of outstanding borrowings under our WBEF credit facilities, consisting of $25.0 million under our WBM Revolving Credit Facility and $1,141.4 million under our WBM Term Loan (as defined below). As of August 31, 2025, we had $650.7 million of outstanding borrowings under our NDB Operating credit facilities, consisting of $80.0 million under our NDB Revolving Credit Facility and $570.7 million under our NDB Term Loan (as defined below). As of August 31, 2025, we had $14.0 million of outstanding borrowings under our Desert Credit Facility. We expect to borrow an additional $10.0 million on the NDB Revolving Credit Facility before the completion of this offering. (2) On a pro forma basis, includes the OpCo Units not owned by us, which represent approximately 70.4% of outstanding OpCo Units immediately after this offering. The Five Point Members, Devon Holdco and Elda River will collectively hold a non‑controlling economic interest in OpCo. We will hold approximately 29.6% of outstanding OpCo Units immediately after this offering (or approximately 32.0% of outstanding OpCo Units if the underwriters’ option to purchase additional Class A shares is exercised in full).

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