SCHEDULE 13G 0002007642 XXXXXXXX LIVE Common Units 12/31/2025 0001603145 XPLR Infrastructure, LP 65341B106 700 Universe Boulevard Juno Beach FL 33408 Rule 13d-1(b) Anchorage Capital Advisors, L.P. DE 0 6899310 0 6899310 6899310 N 7.3 IA PN Anchorage Advisor Holdings Management, L.P. DE 0 6899310 0 6899310 6899310 N 7.3 HC PN Anchorage Advisor Holdings GP, L.L.C. DE 0 6899310 0 6899310 6899310 N 7.3 OO HC Yale Jacob Baron X1 0 6899310 0 6899310 6899310 N 7.3 IN HC Thibault Mathieu Gournay I0 0 6899310 0 6899310 6899310 N 7.3 IN HC Anchorage Opportunities Advisor, L.L.C. DE 0 6899310 0 6899310 6899310 N 7.3 OO XPLR Infrastructure, LP 700 Universe Boulevard, Juno Beach, Florida, 33408 This Schedule 13G is filed on behalf of each of the following persons (collectively, the "Reporting Persons"): (i) Anchorage Capital Advisors, L.P. ("Capital Advisors"); (ii) Anchorage Advisor Holdings Management, L.P. ("Holdings Management"); (iii) Anchorage Advisor Holdings GP, L.L.C. ("Holdings GP"); (iv) Yale Jacob Baron ("Mr. Baron"); (v) Thibault Mathieu Gournay ("Mr. Gournay"); and (vi) Anchorage Opportunities Advisor, L.L.C. ("Opportunities Advisor"). This Schedule 13G relates to Common Units held for the accounts of funds managed by Opportunities Advisor. Opportunities Advisor is a relying advisor of Capital Advisors, which is the sole member of Opportunities Advisor. Holdings Management is the majority owner of Capital Advisors. Holdings GP is the sole general partner of each of Capital Advisors and Holdings Management. Mr. Baron and Mr. Gournay are co-managing members of Holdings GP. The address of the principal business office of each of the Reporting Persons is 610 Broadway, 6th Floor, New York, NY 10012. (i) Capital Advisors is a Delaware limited partnership; (ii) Holdings Management is a Delaware limited partnership; (iii) Holdings GP is a Delaware limited liability company; (iv) Mr. Baron is a citizen of the United States; (v) Mr. Gournay is a citizen of France; and (vi) Opportunities Advisor is a Delaware limited liability company. N IA HC As of December 31, 2025, each of the Reporting Persons may be deemed the beneficial owner of 6,899,310 Common Units. As of December 31, 2025, each of the Reporting Persons may be deemed the beneficial owner of approximately 7.3% of the Common Units outstanding. This percentage is based on 93,966,346 Common Units outstanding as of September 30, 2025, as reported in the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 4, 2025. (i) Capital Advisors: 0 (ii) Holdings Management: 0 (iii) Holdings GP: 0 (iv) Mr. Baron: 0 (v) Mr. Gournay: 0 (vi) Opportunities Advisor: 0 (i) Capital Advisors: 6,899,310 (ii) Holdings Management: 6,899,310 (iii) Holdings GP: 6,899,310 (iv) Mr. Baron: 6,899,310 (v) Mr. Gournay: 6,899,310 (vi) Opportunities Advisor: 6,899,310 (i) Capital Advisors: 0 (ii) Holdings Management: 0 (iii) Holdings GP: 0 (iv) Mr. Baron: 0 (v) Mr. Gournay: 0 (vi) Opportunities Advisor: 0 (i) Capital Advisors: 6,899,310 (ii) Holdings Management: 6,899,310 (iii) Holdings GP: 6,899,310 (iv) Mr. Baron: 6,899,310 (v) Mr. Gournay: 6,899,310 (vi) Opportunities Advisor: 6,899,310 Y N Certain funds managed by Opportunities Advisor are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Units covered by this Schedule 13G that may be deemed to be beneficially owned by the Reporting Persons. N See disclosure in Item 2 hereof. Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 1: Joint Filing Agreement, dated February 17, 2026 Anchorage Capital Advisors, L.P. /s/ Robert Dunleavy 02/17/2026 Anchorage Advisor Holdings Management, L.P. /s/ Robert Dunleavy 02/17/2026 Anchorage Advisor Holdings GP, L.L.C. /s/ Robert Dunleavy 02/17/2026 Yale Jacob Baron /s/ Yale Jacob Baron 02/17/2026 Thibault Mathieu Gournay /s/ Thibault Mathieu Gournay 02/17/2026 Anchorage Opportunities Advisor, L.L.C. /s/ Robert Dunleavy 02/17/2026