Shared Services Agreement

The Company is party to a services agreement with WaterBridge, an affiliate of the Company, pursuant to which the Company receives common management and general, administrative, overhead and operating services in support of the Company’s operations and development activities. The Company reimburses all fees incurred by WaterBridge for services provided to the Company under the agreement. For shared services, the basis of allocation is an approximation of time spent on activities supporting the Company. For shared expenses paid on behalf of the Company, the costs are directly allocated to the Company based on its pro rata share of the expenses. For the three months ended September 30, 2026 and 2025, the Company paid approximately $10.3 million and $2.5 million for the shared services and direct cost reimbursements, respectively. For the nine months ended September 30, 2026 and 2025, the Company paid approximately $16.3 million and $8.1 million for the shared services and direct cost reimbursements, respectively.

Affiliate Facility Access Agreements

DBR Land LLC, a Delaware limited liability company and subsidiary of the Company (“DBR”), is party to facility access, surface use agreements and easements and rights-of-way with subsidiaries of WaterBridge. Under these agreements, the Company has granted WaterBridge certain rights to construct, operate and maintain produced water, brackish water and environmental waste management facilities on the Company’s land, as applicable, in the ordinary course of business. Each of these agreements includes a standard fee schedule and provision for specified surface use activities. Each of these agreements also includes a provision for royalties related to certain specified activities.

Legacy Financial Sponsor Services Agreement

Five Point Infrastructure LLC (“Five Point”), the Company’s legacy financial sponsor, invoices the Company, and the Company reimburses Five Point in cash, for expenses associated with the Company’s use of Five Point’s geographic information system (“GIS”) and certain legal services provided by Five Point. The reimbursement includes allocated Five Point personnel costs and third-party software and hardware expenses and is determined based on the Company’s use of Five Point’s total services for such period. For the three months ended September 30, 2026 and 2025, the Company paid reimbursements to Five Point of $0.2 million and $0.1 million, respectively. For the nine months ended September 30, 2026 and 2025, the Company paid reimbursements to Five Point of $0.5 million and $0.3 million, respectively.

PowerBridge Lease Development Agreement and Ground Lease

The Company is party to a lease development agreement with PowerBridge LLC, a portfolio company of Five Point (“PowerBridge”). The lease development agreement provides PowerBridge the option to lease up to approximately 3,400 acres of land in Reeves County, Texas, for the development of one or more data centers, including power generation facilities. The initial option period expires March 2027, which will automatically extend for up to two additional one-year periods until terminated by PowerBridge. In connection with the lease development agreement, PowerBridge paid a non-refundable option fee of $2.6 million during the first quarter of 2026, which is included under the line item Easements and other surface-related revenues - related party on the condensed consolidated statements of operations. The Company recognized the non-refundable option fee upon execution of the agreement when the acreage was made available and the right of use was granted to PowerBridge; at which time the Company’s performance obligation was satisfied. The lease development agreement also provides for additional option fees payable by PowerBridge in connection with the extended option terms. In September 2026, following the partial execution of its option to lease, the Company and PowerBridge entered into a ground lease for approximately 825 surface acres for an initial term of ten years.

Land Acquisition from WaterBridge

In September 2026, the Company acquired approximately 560 surface acres from WaterBridge for total purchase consideration of $20.0 million, all of which was attributed to land and paid at closing.

Concurrent with such acquisition, the Company and WaterBridge entered into a long-term surface use agreement on terms substantially similar to the existing affiliate surface use agreements between the Company and WaterBridge described above. Under such agreement, WaterBridge has certain rights to construct, operate and maintain an environmental waste management facility. Refer to Note 4 — Asset Acquisitions for additional information.

Desert 302 Transaction

In August 2026, the Company sold a permit for an environmental waste management facility to WaterBridge and concurrently entered into a long-term surface use agreement with WaterBridge on terms substantially similar to the existing affiliate surface use agreements between the Company and WaterBridge described above. The Company received $3.7 million at closing, consisting of $0.7 million for the permit and $3.0 million related to surface use agreements.