On August 4, 2026, OpCo entered into an amendment (the “Amendment”) to the 2025 Revolving Credit Facility to increase its aggregate revolving commitments from $275.0 million to $375.0 million through the exercise in full of the incremental commitment capacity available under the 2025 Revolving Credit Facility. Concurrently, the Amendment re-established an incremental commitment capacity of up to an additional $100.0 million, which may be exercised by OpCo from time to time, subject to the receipt of additional lender commitments and the satisfaction of the other conditions set forth in the 2025 Revolving Credit Facility.

The Amendment also reduced the applicable margins and letter of credit fees by 0.25%. As amended, Term SOFR Loans bear interest at Term SOFR for the applicable tenor plus a leverage-based applicable margin between 1.75% and 2.75% per annum, and Base Rate Loans bear interest at the applicable base rate plus a leverage-based applicable margin between 0.75% and 1.75% per annum.

Except as described above, the other material terms of the 2025 Revolving Credit Facility, including the Maturity Date, the commitment fee and the financial and other covenants, remained unchanged.

Additionally, on August 4, 2026, the Company agreed to acquire approximately 560 surface acres within our area of operations for total consideration of approximately $20 million. The Company expects to fund the transaction through a combination of borrowings incurred under the 2025 Revolving Credit Facility and cash on hand. The transaction is expected to close during the third quarter of 2026, concurrently with the acquisition by WaterBridge of an environmental waste management facility located on such lands, subject to customary closing conditions and receipt of all required consents and approvals. Concurrent with such acquisition, WaterBridge and LandBridge will enter into a long-term surface use agreement for the operation of the environmental waste management facility on such lands.