Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 126

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 126
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 been adjusted. (3) Non-recurring tax gain represents the release of a liability associated with transaction taxes recorded in conjunction with a historical acquisition. (4) Transaction related-expenses consist of non-capitalizable transaction costs associated with both completed and attempted acquisitions. (5) Other consists of abandoned well costs, abandoned project costs and other non-cash or non-recurring items.

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Factors Affecting the Comparability of Our Results of Operations</div>

In this prospectus, we present our predecessors’ historical results of operations for the three months ended March 31, 2025 and 2024 and for the years ended December 31, 2024 and 2023. The historical financial information contained in this section is that of (i) WaterBridge Equity Finance LLC (“WBEF”) and (ii) WaterBridge NDB Operating LLC, our predecessors, for periods prior to the WaterBridge Combination. Our future results of operations will not be directly comparable to the historical results of operations of our predecessors for the periods presented as a result of, among other items, the WaterBridge Combination, the Corporation Reorganization and the use of net proceeds from this offering as described in “Use of Proceeds.” For example, the (i) purchase of legacy preferred equity interests, including purchases of the OpCo preferred equity interests that will be held by the Legacy Preferred Holder, (ii) repayment of outstanding indebtedness of WaterBridge Operating and its subsidiaries and (iii) refinancing of the WBM Revolving Credit Facility (as defined below) will each affect the comparability of our results of operations.

Public Company Costs

Following the closing of this offering, we will incur incremental, non‑recurring costs related to our transition to a publicly traded and taxable entity, including the costs of this public offering and the costs associated with the initial implementation of our Sarbanes‑Oxley Act internal controls and testing. We also expect to incur additional significant and recurring expenses as a publicly traded company, including costs associated with SEC reporting and compliance requirements, including the preparation and filing of annual and quarterly reports, registrar and transfer agent fees, national stock exchange fees, audit fees, legal fees, investor relations expenses, incremental director and officer liability insurance costs and director and officer compensation expenses. Additionally, in anticipation of this offering, we expect to hire additional employees and consultants, including accounting and legal personnel, in order to prepare for the requirements of being a publicly traded company.

WaterBridge Combination and Corporate Reorganization

WaterBridge Infrastructure