BETHESDA, Md.–(BUSINESS WIRE)–Enviva Partners, LP (NYSE: EVA) (the “Partnership” or “we”) has
completed the previously announced acquisition of Enviva Port of
Wilmington, LLC (“Wilmington”) from Enviva Wilmington Holdings, LLC (the
“Hancock JV”), a joint venture between our sponsor and affiliates of
John Hancock Life Insurance Company.

“We are pleased to announce the completion of the Wilmington terminal
acquisition, our third drop-down transaction since our IPO,” said John
Keppler, Chairman and Chief Executive Officer. “This acquisition adds a
strategically located asset that complements our existing portfolio of
plants and ports. Ownership and control over deep-water, dry bulk
terminaling and storage facilities like the Wilmington terminal, the
scarcest portion of our industry’s value chain, is a key part of our
long-term growth strategy.”

Wilmington Terminal Drop-Down

Wilmington owns a fully operational deep-water marine terminal in
Wilmington, North Carolina (the “Wilmington terminal”). The Wilmington
terminal is capable of receiving product by rail and truck, storing up
to 90,000 metric tons of wood pellets, and loading up to panamax-sized
vessels. It utilizes state-of-the-art handling equipment and storage
infrastructure designed to maintain product quality and safety with
throughput capacity of up to 3.0 million metric tons per year (“MTPY”)
of wood pellets.

Wilmington will handle up to approximately 600,000 MTPY of throughput
volume from the Partnership’s production plant in Sampson County, North
Carolina and is party to a long-term terminal services agreement with
our sponsor to handle throughput volumes sourced by our sponsor from a
third-party production plant. The terminal services agreement with our
sponsor is subject to deficiency payments if minimum throughput
requirements are not met. In addition, the Wilmington terminal is
expected to receive, store, and load wood pellets from the Hancock JV’s
planned production plant in Hamlet, North Carolina (the “Hamlet plant”).
Upon completion of the Hamlet plant, a terminal services agreement
between Wilmington and the Hancock JV is expected to provide for
deficiency payments if minimum throughput requirements from the Hamlet
plant are not met.

The Partnership previously agreed to purchase Wilmington from the
Hancock JV for total consideration of $130.0 million pursuant to a
contribution agreement between the Partnership and the Hancock JV (the
“Wilmington Contribution Agreement”). Today, the Partnership made an
initial payment of $56.0 million, adjusted in accordance with the terms
of the Wilmington Contribution Agreement for estimated working capital
at the time of the closing, which was funded with borrowings under the
Partnership’s revolving credit facility and cash on hand. In addition,
upon first deliveries to the Wilmington terminal from the Hamlet plant,
the Partnership will make another payment of $74.0 million to the
Hancock JV, subject to certain conditions.

Evercore served as exclusive financial advisor and Andrews Kurth Kenyon
LLP served as legal counsel to the conflicts committee of the board of
directors of the Partnership’s general partner. Vinson & Elkins LLP
served as legal counsel to the Hancock JV.

About Enviva Partners, LP

Enviva Partners, LP (NYSE: EVA) is a publicly traded master limited
partnership that aggregates a natural resource, wood fiber, and
processes it into a transportable form, wood pellets. The Partnership
sells a significant majority of its wood pellets through long-term,
take-or-pay agreements with creditworthy customers in the United Kingdom
and Europe. The Partnership owns and operates six plants with a combined
production capacity of nearly three million metric tons of wood pellets
per year in Virginia, North Carolina, Mississippi, and Florida. In
addition, the Partnership exports wood pellets through its owned marine
terminal assets at the Port of Chesapeake, Virginia, and Port of
Wilmington, North Carolina and from third-party marine terminals in
Mobile, Alabama and Panama City, Florida.

To learn more about Enviva Partners, LP, please visit our website at www.envivabiomass.com.

Cautionary Note Concerning Forward-Looking Statements

Certain statements and information in this press release, including
those concerning our future results of operations, acquisition
opportunities, and distributions, may constitute “forward-looking
statements.” The words “believe,” “expect,” “anticipate,” “plan,”
“intend,” “foresee,” “should,” “would,” “could,” or other similar
expressions are intended to identify forward-looking statements, which
are generally not historical in nature. These forward-looking statements
are based on the Partnership’s current expectations and beliefs
concerning future developments and their potential effect on the
Partnership. Although management believes that these forward-looking
statements are reasonable when made, there can be no assurance that
future developments affecting the Partnership will be those that it
anticipates. The forward-looking statements involve significant risks
and uncertainties (some of which are beyond the Partnership’s control)
and assumptions that could cause actual results to differ materially
from the Partnership’s historical experience and its present
expectations or projections. Important factors that could cause actual
results to differ materially from forward-looking statements include,
but are not limited to: (i) the volume of products that we are able to
sell; (ii) the price at which we are able to sell our products; (iii)
failure of the Partnership’s customers, vendors, and shipping partners
to pay or perform their contractual obligations to the Partnership; (iv)
the creditworthiness of our financial counterparties; (v) the amount of
low-cost wood fiber that we are able to procure and process, which could
be adversely affected by, among other things, operating or financial
difficulties suffered by our suppliers; (vi) the amount of products that
we are able to produce, which could be adversely affected by, among
other things, operating difficulties; (vii) changes in the price and
availability of natural gas, coal, or other sources of energy; (viii)
changes in prevailing economic conditions; (ix) our inability to
complete acquisitions, including acquisitions from our sponsor, or to
realize the anticipated benefits of such acquisitions; (x) unanticipated
ground, grade, or water conditions; (xi) inclement or hazardous weather
conditions, including extreme precipitation, temperatures, and flooding;
(xii) environmental hazards; (xiii) fires, explosions, or other
accidents; (xiv) changes in domestic and foreign laws and regulations
(or the interpretation thereof) related to renewable or low-carbon
energy, the forestry products industry, or power generators; (xv)
changes in the regulatory treatment of biomass in core and emerging
markets for utility-scale generation; (xvi) inability to acquire or
maintain necessary permits or rights for our production, transportation,
and terminaling operations; (xvii) inability to obtain necessary
production equipment or replacement parts; (xviii) operating or
technical difficulties or failures at our plants or deep-water marine
terminals; (xix) labor disputes; (xx) inability of our customers to take
delivery of our products; (xxi) changes in the price and availability of
transportation; (xxii) changes in foreign currency exchange rates;
(xxiii) failure of our hedging arrangements to effectively reduce our
exposure to interest and foreign currency exchange rate risk; (xxiv)
risks related to our indebtedness; (xxv) customer rejection of our
products due to our failure to maintain effective quality control
systems at our production plants and deep-water marine terminals; (xxvi)
changes in the quality specifications for our products that are required
by our customers; (xxvii) the effects of the approval of the United
Kingdom of the exit of the United Kingdom (“Brexit”) from the European
Union, and the implementation of Brexit, in each case on our and our
customers’ businesses; and (xxiii) our ability to borrow funds and
access capital markets.

For additional information regarding known material factors that could
cause the Partnership’s actual results to differ from projected results,
please read its filings with the Securities and Exchange Commission,
including the Annual Report on Form 10-K and the Quarterly Reports on
Form 10-Q most recently filed with the SEC. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak only as
of the date thereof. The Partnership undertakes no obligation to
publicly update or revise any forward-looking statements after the date
they are made, whether as a result of new information, future events, or
otherwise.