Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 410

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 410
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0 | % |     |               |       0 | % |
| Volatility               |     |              |    53.7 | % |     |               |    65.5 | % |
| Marketability discount   |     | 9.0% - 32.0% |         |   |     | 16.0% - 32.0% |         |   |

The number of WBR Incentive Units granted and forfeited during the twelve months ending December 31, 2024 and 2023 is shown in the following table:

| Outstanding at January 1, 2023   |     | 6,234 |   |
| Granted                          |     |     - |   |
| Forfeited                        |     |   (40 | ) |
| Outstanding at December 31, 2023 |     | 6,194 |   |
| Granted                          |     |     - |   |
| Forfeited                        |     |   (24 | ) |
| Outstanding at December 31, 2024 |     | 6,170 |   |

The fair value of the WBR Incentive Units attributable to the Company as of December 31, 2024 was $19.3 million ($0 - $8,178 per unit) and as of December 31, 2023 was $12.8 million ($18 - $4,872 per unit).

<div align='center'>F-80</div>

#### WaterBridge Equity Finance LLC and Subsidiaries

### Notes to the Consolidated Financial Statements
The cumulative vested value of the liability for the WBR Incentive Units allocated to the Company was approximately $19.3 million and $11.9 million as of December 31, 2024 and 2023, respectively. The Company recognized expense of $7.3 million and income of $9.9 million, respectively, in share-based compensation during the years ended December 31, 2024 and 2023, respectively, which is included in general and administrative expense on the statements of operations. For the year ended December 31, 2024 the WBR Incentive Units were fully vested. For the year ended December 31, 2023, the remaining unrecognized compensation expense for the WBR Incentive Units was $0.9 million and the weighted average remaining vesting period was approximately 1.0 years. There were no departures requiring accelerated vest