Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 161

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 161
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 cash provided by operating activities increased $17.3 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. The increase was attributable to higher net income, net of non-cash items, of $16.8 million primarily related to higher gross margin due to increased volumes driven by East Stateline acquired assets and organic commercial growth during the six months ended June 30, 2025. Additionally, changes in working capital items, other than cash, resulted in an increase of $0.5 million. Net Cash Used in Investing Activities. Net cash used in investing activities decreased $138.6 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. The decrease was primarily driven by lower acquisition and acquisition-related expenditures for the six months ended June 30, 2025 of $0.1 million as compared to $166.4 million for the six months ended June 30, 2024 and increased proceeds from sale of assets of $19.0 million primarily related to the sale of the crude gathering and transportation assets during the six months ended June 30, 2025. This was partially offset by a $46.7 million increase in capital expenditures, inclusive of changes in associated working capital items, required to service our produced water handling contracts and volume, and expansion of our infrastructure network. Net Cash Provided by Financing Activities. Net cash provided by financing activities decreased $169.2 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. For the six months ended June 30, 2025, cash provided by financing activities primarily consisted of $31.9 million of debt proceeds, net of repayments and issuance costs, and $20.0 million of member cash contributions partially offset by $1.4 million principal payments associated with notes payable and finance leases, and $0.8 million in deferred offering costs. For the six months ended June 30, 2024, cash provided by financing activities primarily consisted $219.9 million of debt proceeds, net of repayments and issuance costs partially offset by $1.0 million principal payments associated with notes payable and finance leases. Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023

| (in thousands)                                       |     | WBEF 
 2024 |   Year