Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 289

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 289
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 Price

We will account for the WaterBridge Combination as a business combination in accordance with ASC 805, as the transaction meets the definition of a business under generally accepted accounting principles in the United States of America (“U.S. GAAP”). The identifiable assets acquired and liabilities assumed will be recognized at their acquisition-date fair values. The total consideration transferred will be measured as the fair value of the consideration exchanged with the seller. The purchase price will be allocated to the identifiable assets acquired and liabilities assumed based on their relative fair values in accordance with ASC 805-20. Any excess of the consideration transferred over the fair value of the identifiable net assets acquired will be recognized as goodwill.

As part of the WaterBridge Combination, all equity interests in NDB Operating and WBEF will be directly or indirectly contributed to WBI Operating LLC, a Delaware limited liability company formed in connection with the WaterBridge Combination (“OpCo”). The consideration transferred to the current equity owners of WBEF will consist of % of OpCo Units representing fair value of $ .

The determination of fair value used in the transaction adjustments presented herein are preliminary and based on management estimates of the fair value of the consideration transferred and the assets and liabilities acquired and have been prepared to illustrate the estimated effect of the acquisition. The final determination of the purchase price allocation will depend on a number of factors that cannot be predicted with certainty at this time. Therefore, the actual purchase price allocation of the WaterBridge Combination may differ from the transaction accounting adjustments presented in these unaudited condensed combined pro forma statements. The Company has engaged a third-party valuation specialist to assist in the final determination of the purchase price allocation.

Note 3: Pro Forma Adjustments

The unaudited pro forma condensed combined financial information has been prepared to reflect the application of required U.S. GAAP accounting to the Transactions and has been prepared for informational purposes only.

<div align='center'>F-10</div>

Transaction Accounting Adjustments to Unaudited Pro Forma Condensed Combined Financial Information The Company made the following adjustments and assumptions related to the WaterBridge Combination in the preparation of the unaudited pro forma condensed combined balance sheet: (a)

| Purchase Price Allocation                      |     |   |
| Book value of identifiable net assets acquired |     |   |
| Fair value adjustments:                        |     |   |
| Decrease in property, plant and equipment      |     |   |
| Increase in intangible assets                  |     |   |
| Write-off of discount and debt issuance costs  |     |