WaterBridge Infrastructure (WBI) Registration filing summary

Company overview and business model

• Leading integrated water infrastructure provider focused on the Delaware Basin, offering water management solutions to oil and gas E&P companies under long-term contracts, including gathering, transporting, recycling, and handling produced water.

• Operates the largest integrated produced water infrastructure network in the U.S., with additional energy waste management facilities under the Desert Environmental brand.

• Strategic relationship with a major land management company provides preferential access to underutilized pore space, supporting future capacity needs.

• Utilizes proprietary technology for real-time monitoring and forecasting of water volumes, enhancing operational efficiency and reliability.

Financial performance and metrics

• For the year ended December 31, 2025, recognized $94.9M in fees from Devon for water transportation and handling, $21.7M from San Mateo Midstream, and $50.9M in fees related to agreements with LandBridge.

• Executive compensation for 2025 included base salaries, bonuses, and equity awards, with the CEO earning total compensation of $6.4M.

• As of March 20, 2026, 47,016,059 Class A shares and 76,440,150 Class B shares were outstanding.

Use of proceeds and capital allocation

• No proceeds will be received from the sale of Class A shares by selling shareholders; all net proceeds go to the selling shareholders.

• Company bears all registration-related costs, while selling shareholders bear commissions and discounts.