Company: WBI
Filing Date: 2025-04-18
Form Type: DRS
Source: 0000950123-25-003575
Chunk: 31

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-04-18
Form: DRS
Chunk 31
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 offering to OpCo in exchange for a number of OpCo Units equal to the number of Class A shares issued in this offering;

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the Existing Owners and WaterBridge will cause OpCo to amend and restate its operating agreement in the form of the Operating Agreement attached as an exhibit to the registration statement of which this prospectus forms a part to, among other things, designate WaterBridge as the managing member of OpCo and to provide for the provision of OpCo Unit exchange rights for the benefit of the holders of OpCo Units (“OpCo Unitholders”) other than WaterBridge; and

OpCo will use the remaining net proceeds from this offering as described in “Use of Proceeds.”

The transactions described above are collectively referred to in this prospectus as our “Corporate Reorganization.”

To the extent the underwriters’ option to purchase additional Class A shares is exercised in full or in part, WaterBridge will contribute the net proceeds therefrom to OpCo in exchange for an additional number of OpCo Units equal to the number of Class A shares issued pursuant to the underwriters’ option. OpCo intends to use such proceeds as described in “Use of Proceeds.”

After giving effect to the Corporate Reorganization and this offering and assuming the underwriters’ option to purchase additional Class A shares is not exercised:

investors in this offering will own of our Class A shares, representing % of our common shares;

WBR Aggregator and NDB Holdings (together, “the Five Point Members”) will collectively own of our Class A shares and of our Class B shares, representing % of our common shares, and an approximate % interest in OpCo;

Devon Holdco will own of our Class B shares, representing % of our common shares, and an approximate % interest in OpCo;

GIC will own of our Class A shares, representing % of our common shares; and

WaterBridge will own an approximate % interest in OpCo and will serve as the managing member of OpCo.

The diagrams under “—Organizational Structure” below depict a simplified version of our organization and ownership structure immediately before and after giving effect to this offering and the Corporate Reorganization.

For further details on our agreements with OpCo and its affiliates, please see “Certain Relationships and Related Party Transactions.”

#### Our Common Shares
Our First Amended and Restated Limited Liability Company Agreement (the “Operating Agreement”) will provide for two classes of common shares, Class A shares and Class B shares, representing limited liability company interests