INFINITY NATURAL RESOURCES, INC.

Filing Date

May 4, 2026

Transaction Date

Feb 23, 2026

Accession Number

0001193125-26-204748

Form Type

3

Footnotes

1. (F1)Class A Common Stock was acquired by Etineles Holdings V, LLC on November 12, 2025.
2. (F2)On February 23, 2026, Etineles Holdings V, LLC acquired 75,000 shares of Series A Convertible Preferred Stock, par value $0.01 per share (the "Series A Preferred Stock") at a price of $1,000 per share ("Initial Liquidation Preference). Pursuant to the Certificate of Designation (as defined below), each share of Series A Preferred Stock is convertible at the option of the holder into shares of Class A Common Stock using a conversion ratio equal to the then-applicable liquidation preference (as determined in accordance with the Certificate of Designation and which equals the Initial Liquidation Preference per share as of the date hereof) divided by a conversion price of $21.39 per share (subject to customary adjustments in accordance with the Certificate of Designation), which would result in 3,506,311 shares of Class A Common Stock upon full conversion. The Series A Preferred Stock has no expiration date and is convertible at any time at the option of the holder.
3. (F3)Etineles Holdings V, LLC is the record holder of the shares reported herein. Tomas Ackerman and Daniel Goodman are managing members of Carnelian Energy Capital Holdings, LLC, which is the general partner of Carnelian Energy Capital GP V, L.P. Carnelian Energy Capital GP V, L.P. is the general partner of Carnelian Energy Capital V, L.P. Carnelian Energy Capital V, L.P. is the sole member of CEC Selenite III Holdings, LLC, which is the sole member of Etineles Holdings V, LLC.
4. (F4)Each of Etineles Holdings V, LLC, CEC Selenite III Holdings, LLC, Carnelian Energy Capital V, L.P., Carnelian Energy Capital GP V, L.P., Carnelian Energy Capital Holdings, LLC, and Messrs. Ackerman and Goodman may be deemed to have or share beneficial ownership of the ordinary shares held directly by Etineles Holdings V, LLC. Each such entity or person disclaims any such beneficial ownership of such securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.