Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 500

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 500
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:----|:-------------------|:----|:--|--------------:|:----|:--|--------------:|
| Revenues - Related Party            |     |                    |     |   |               |     |   |               |
| Customer Agreement                  |     | Operating revenues |     | $ |         5,041 |     | $ |         2,690 |
| Operating Expenses - Related Party  |     |                    |     |   |               |     |   |               |
| Affiliate Facility Access Agreement |     | Operating expenses |     | $ |         1,685 |     | $ |           367 |

<div align='center'>F-132

Desert Environmental LLC and Subsidiaries

Notes to the Unaudited Condensed Consolidated Financial Statements</div>

Shared Services Agreement

The Company has a services agreement with certain affiliates, pursuant to which it receives common management and general, administrative, overhead, and operating services in support of the Company’s operations and development activities. The Company is required to reimburse all fees incurred by it that are necessary to perform services under the agreement. For shared services, the basis of allocation is an approximation of time spent on activities supporting the Company. For shared costs paid on behalf of the Company, the costs are directly allocated to it based on its pro rata share of the expenses. For the periods ended June 30, 2025 and 2024, the Company paid approximately $1.2 million and $1.3 million for the shared services and direct cost reimbursements, respectively.

Equity Sponsor Services Agreement

Five Point Infrastructure LLC (FPI), an affiliate of Five Point Energy Fund III LP, invoices the Company, and the Company reimburses FPI in cash, for expenses associated with the Company’s use of geographic information system (GIS) and certain legal services provided by FPI. The reimbursement includes allocated FPI personnel costs and third-party software and hardware expenses and is determined based on the Company’s use of FPI’s total services for such period. For the periods ended June 30, 2025 and 2024, the GIS and legal services reimbursements paid were immaterial.

Customer Agreement

The Company has customer agreements with certain affiliates which include a standard fee schedule. Under these agreements, the Company provides waste handling and disposal services to affiliates in the ordinary course of business.

Affiliate Facility Access and Water Management Services Agreement

The Company has a facility access, surface use and water management services agreement with certain affiliates to which