Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 151

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 151
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 awards. Share-based compensation consists of the WaterBridge Resources and WaterBridge II incentive units. Such incentive units are classified as liability awards and shared-based compensation expense reflects the impacts of change in the liability remeasurement allocated to us. Any distributions associated with such incentive units are borne solely by WaterBridge Resources and WaterBridge II and not by us. Distributions attributable to the incentive units are based on returns received by the investors of such entities once certain return thresholds have been met and are neither our obligation nor taken into consideration for distributions to our investors. See Note 8— Share-Based Compensation within the notes to the WBEF unaudited condensed consolidated financial statements included elsewhere in this prospectus. Other operating expense, net. Other operating expense, net increased $1.5 million for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. The increase was primarily attributable to transaction expenses of $0.7 million related to the WaterBridge Combination, abandoned project costs of $0.4 million and a gain of $0.3 million related to a casualty loss associated with a lightning strike at a produced water handling facility that occurred during the six months ended June 30, 2024.

|                                           |     | Three Months Ended June 30, |   2025 |   |     |   |   2024 |   |     | Amount of 
 Increase  | (Decrease) |   |     | Percentage | Change |    |
|:------------------------------------------|:----|:----------------------------|-------:|:--|:----|:--|-------:|:--|:----|:----------|-----------:|:--|:----|:-----------|-------:|:---|
| Interest expense on credit facilities     |     | $                           | 26,237 |   |     | $ | 31,895 |   |     | $         |     (5,658 | ) |     |            |    (18 | %) |
| Amortization of debt issuance costs       |     |                             |  2,307 |   |     |   |  6,254 |   |     |           |     (3,947 | ) |     |            |    (63 | %) |
| Commitment fees                           |     |                             |    125 |   |     |   |    103 |   |     |           |         22 |   |     |            |