Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 283

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 283
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, but are not limited to, legal services, information technology, accounting and financial and tax services. Pursuant to the Shared Services Agreement, the Manager also provides operational and maintenance services, such as project and construction management, and provides operating materials and equipment. The term of the Shared Services Agreement continues until terminated by mutual agreement. As consideration for the services rendered pursuant to the Shared Services Agreement, such entities reimburse the Manager for all fees and expenses incurred by the Manager or its affiliates or agents in connection therewith. Each entity pays the Manager its proportionate share of its total costs as determined under the Shared Services Agreement. Such payments are intended to cover certain allocated compensation and benefits costs for the employees, including our management team, that provide services to such entities. Such allocations are made by the Manager among such entities in good faith based upon the time that is devoted by our employees, including our management team, to such entities, but there is not a specific allocation of value to any one person or any one item of compensation or benefits paid or provided to any specific person. For each of the years ended December 31, 2024 and 2023, the Manager was paid approximately $10.1 million and $5.2 million, respectively, for shared services and direct cost reimbursements. For each of the six months ended June 30, 2025 and 2024, the Manager was paid approximately $5.6 million and $2.1 million, respectively, for shared services and direct cost reimbursements.

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We reimburse Five Point for our usage of its geographic information services as well as legal services as necessary to support our operations. For each of the years ended December 31, 2024 and 2023, we paid Five Point $1.0 million in reimbursements in connection with this arrangement. For the six months ended June 30, 2025 and 2024, we paid Five Point $0.7 million and $0.4 million, respectively, in reimbursements in connection with this arrangement.

In the ordinary course of business, we have entered into certain agreements with Devon, a significant shareholder, as set forth below:

A long-term, fixed-fee produced water handling agreement, pursuant to which Devon dedicated to us produced water generated from acreage within a large AMI, including an initial dedication of approximately 52,000 acres, in the Texas-New Mexico Stateline region of the Delaware Basin, with an initial term of approximately 15 years expiring in