BETHESDA, Md.–(BUSINESS WIRE)–Enviva Partners, LP (NYSE:EVA) (the “Partnership” or “we”) today
reported financial and operating results for the second quarter of 2015.
The Partnership closed its initial public offering (the “IPO”) on May 4,
2015.

Highlights for the Quarter:

• Exceeded plan and generated adjusted EBITDA of $16.0 million (on
  net income of $1.0 million)
• Declared initial quarterly cash distribution of $0.2630 per unit
  ($0.4125 MQD prorated for post-IPO period)
• Maintained strong balance sheet with $76.7 million of cash for
  future growth
• Received proposal from sponsor on potential acquisition of
  Southampton plant; formed conflicts committee to evaluate proposal

“Our results during the second quarter of 2015 demonstrate the continued
strength of our operating performance and the stability of cash flows
generated by our business,” said John Keppler, Chairman and Chief
Executive Officer. “These results highlight the value of our long-term
agreements with our international customers, who use our product in
place of coal as one of the most cost-effective means of generating
renewable energy, reducing their greenhouse gas emissions by
approximately 80 percent.”

Second Quarter Results

For the second quarter of 2015, we generated revenue of $109.7 million,
a $41.1 million, or 60 percent, increase over the corresponding quarter
of last year. For the second quarter, we generated net income of $1.0
million compared to a net loss of $1.9 million for the corresponding
prior quarter. The increases in revenue and net income were primarily
the result of contracts acquired as part of the acquisition of our
Cottondale plant, as well as a maintenance outage at one of our off-take
customer’s plants last year. The increase in net income was partially
offset by increases in general and administrative costs, largely due to
forming and being a public company, and cost of goods sold associated
with higher sales volumes.

Adjusted EBITDA improved to $16.0 million in the second quarter of 2015,
a 210 percent increase compared to the corresponding period in 2014. The
improvement was due to a $15 per metric ton improvement in adjusted
gross margin, which was a result of increased revenue, improved cost
position, and a favorable mix of customer off-take and marine shipping
contract pricing, partially offset by the increases in general and
administrative costs described above.

The Partnership’s distributable cash flow for the post-IPO portion of
the second quarter was $10.7 million, leading to a distribution coverage
ratio of 1.71 times. Had we been public for the full quarter, our
distributable cash flow of $12.4 million would have generated 1.27 times
coverage for the minimum quarterly distribution. Both are well in excess
of the Partnership’s coverage goal.

Liquidity and Financial Position

The Partnership had total cash on hand of $76.7 million at the end of
the second quarter, all of which is available for general partnership
purposes, including potential acquisitions.

Initial Distribution

As announced yesterday, the board of directors of the Partnership’s
general partner declared a cash distribution of $0.2630 per common and
subordinated unit for the second quarter of 2015. The distribution
represents the prorated amount of the Partnership’s minimum quarterly
distribution of $0.4125 per unit, based on the 58 days during the period
commencing (and including) May 4, 2015, the date on which the
Partnership’s initial public offering closed, and ending June 30, 2015,
the last day of the second quarter. The quarterly distribution will be
paid on Monday, August 31, 2015, to unitholders of record as of the
close of business on Friday, August 14, 2015.

2015 Outlook and Guidance

The guidance amounts provided below do not include the impact of any
potential acquisitions from the Partnership’s sponsor or others. For the
second half of 2015, the Partnership expects its existing business to
generate net income in the range of $11.5 million to $13.5 million,
adjusted EBITDA in the range of $30.0 million to $32.0 million,
maintenance capital expenditures in the range of $1.5 million to $2.0
million, and interest expense net of amortization of debt issuance costs
and original issue discount of $4.7 million. As a result, the
Partnership expects to generate distributable cash flow of $23.0 million
to $25.0 million for the second half of 2015.

Mr. Keppler commented, “The first half of the year provided a solid
foundation for the business. With continued strong performance from a
cash flow perspective, we expect to have the opportunity to increase our
distribution in future periods. We also expect to deploy modest growth
capital on select opportunities later this year, with those investments
expected to generate further increases in distributable cash flow in
2016 and beyond.”

Market Update

Several recent announcements and actions in key markets highlight the
growth potential in the wood pellet industry. For example, affiliates of
Macquarie Bank, Ltd. recently signed an agreement to support MGT Power
Limited in the financing of the 299 MWe Teesside Renewable Energy Plant,
which has received a U.K. government-supported contract for difference
(“CfD”). The EU completed its state-aid review process for the CfD
earlier this year, and MGT announced its intent to reach financial close
on the project by the end of the year. This project is expected to
consume more than one million tons of wood pellets annually, commencing
in 2018. In addition, EU state-aid review processes are currently
underway for the CfDs that the U.K. government has awarded to RWE’s
to-be-converted 420MW Lynemouth coal facility, which is expected to
generate approximately 1.5 million tons of new wood pellet demand, and
to Drax’s ongoing biomass conversion of a third coal unit at its power
station. The U.K. government recently confirmed that both the Lynemouth
and Drax projects are eligible for the Renewable Obligation Certificate
(“ROC”) subsidy as an alternative to their CfDs should they decide to
opt for this route and reach commercial operation before March 31, 2017.

In the Netherlands, several utility-led large-scale biomass co-firing
projects and a number of biomass-based industrial steam projects
submitted bids for government-backed renewable energy contracts in June,
following confirmation earlier this year of Dutch biomass sustainability
provisions. The bids are currently being reviewed by the regulator. With
these projects, and further projects expected to bid into future
renewable energy contract allocation rounds, the Netherlands is
projected to become a significant source of new demand, consuming more
than 3 million tons of wood pellets by 2020 according to a recent
independent market projection.

“We continue to see significant growth opportunities both in our
existing core Northern European markets and in emerging markets such as
Asia and the U.S.,” said Mr. Keppler. “With what has been announced, it
provides the opportunity for both the Partnership to extend the
contracted position of its existing assets and our sponsor to have the
opportunity to build substantial new, fully-contracted production
capacity that would add to its inventory of drop-down assets.”

Sponsor Activity

The Partnership’s sponsor, through its joint venture with affiliates of
John Hancock Life Insurance Company, owns and operates a fully
operational 510,000 metric tons per year (“MTPY”) wood pellet production
plant in Southampton County, Virginia (the “Southampton plant”), from
which the Partnership currently purchases pellets at its Port of
Chesapeake terminal on a fixed-price basis pursuant to a biomass
purchase and sale agreement. The sponsor has made a proposal to the
Partnership regarding the potential acquisition by the Partnership of
the Southampton plant, together with a ten-year, 500,000 MTPY off-take
agreement (385,000 metric tons for the first year). Due to the
related-party nature of the proposed transaction, the board of directors
of the Partnership’s general partner has formed a Conflicts Committee
comprised solely of independent directors to evaluate the proposal.

“In addition to organic growth, drop downs from our sponsor are an
important part of Enviva’s growth profile,” noted Mr. Keppler. “I am
delighted that the Partnership will have the opportunity to acquire a
world-class asset and to further extend the weighted-average tenor of
its portfolio of off-take contracts with the addition of a large-volume
customer agreement that runs through 2026.”

Additionally, the sponsor remains on track with the construction of
another approximately 500,000 MTPY production plant in Sampson County,
North Carolina and a deep-water marine terminal in Wilmington, North
Carolina with wood pellet throughput capacity of 2,000,000 MTPY. Both
facilities are expected to begin operations in the first quarter of 2016
and the production plant is expected to ramp up to its full production
capacity over the ensuing six months. The Partnership expects to have
the opportunity to acquire the Sampson plant, together with a ten-year,
420,000 MTPY off-take agreement (360,000 metric tons for the first
year), in late 2016, and the Wilmington terminal in 2017. Finally, the
sponsor recently received a draft air permit for the construction of an
additional 500,000 MTPY production plant in Hamlet County, North
Carolina that, when constructed, will ship the pellets it produces to
the Wilmington terminal by rail.

Conference Call

The Partnership will host a conference call with executive management
related to its second quarter 2015 results and to discuss our outlook,
guidance, market update, and update on the sponsor’s activities at
10:00 a.m. (Eastern Time) on Thursday, July 30, 2015. Information on how
interested parties may listen to the conference call is available in the
Investor Relations page of our website (www.envivapartners.com).
A replay of the conference call will be available on our website after
the live call concludes.

About Enviva Partners, LP

Enviva Partners, LP (NYSE: EVA) is the world’s largest supplier of wood
pellets to major utilities, serving customers in Europe, Asia, and the
United States, generally under long-term contracts. We are a publicly
traded, growth-oriented master limited partnership that owns and
operates midstream fuel processing and logistics assets, including five
wood pellet production plants in the Southeastern U.S. and a dry-bulk,
deep-water marine terminal at the Port of Chesapeake, Virginia. In
addition to this Mid-Atlantic terminal, Enviva Partners maintains export
terminal operations at a third-party terminal in each of Mobile, Alabama
and Panama City, Florida. Our customers use our product in place of coal
as one of the most cost-effective means of generating renewable energy,
reducing their greenhouse gas emissions by up to 80 percent. At Enviva,
we work for lower emissions, healthy forests, and strong communities. To
learn more about Enviva Partners, please visit our website at www.envivapartners.com.

Non-GAAP Financial Measures

We view adjusted gross margin per metric ton, adjusted EBITDA, and
distributable cash flow as important indicators of performance.

Adjusted Gross Margin per Metric Ton

We define adjusted gross margin per metric ton as gross margin per
metric ton excluding depreciation and amortization included in cost of
goods sold. We believe adjusted gross margin per metric ton is a
meaningful measure because it compares our off-take pricing to our
operating costs for a view of profitability and performance on a per
metric ton basis. Adjusted gross margin per metric ton primarily will be
affected by our ability to meet targeted production volumes and to
control direct and indirect costs associated with procurement and
delivery of wood fiber to our production plants and the production and
distribution of wood pellets.

Adjusted EBITDA

We define adjusted EBITDA as net income or loss, excluding depreciation
and amortization, interest expense, taxes, early retirement of debt
obligation, non-cash equity compensation, and asset impairments and
disposals. Adjusted EBITDA is a supplemental measure used by our
management and other users of our financial statements, such as
investors, commercial banks, and research analysts, to assess the
financial performance of our assets without regard to financing methods
or capital structure.

Distributable Cash Flow

We define distributable cash flow as adjusted EBITDA less maintenance
capital expenditures and interest expense net of amortization of debt
issuance costs and original issue discount. Distributable cash flow is
used as a supplemental measure by our management and other users of our
financial statements as it provides important information regarding the
relationship between our financial operating performance and our ability
to make cash distributions.

Adjusted gross margin per metric ton, adjusted EBITDA, and distributable
cash flow are not financial measures presented in accordance with
generally accepted accounting principles (“GAAP”). We believe that the
presentation of these non-GAAP financial measures provides useful
information to investors in assessing our financial condition and
results of operations. Our non-GAAP financial measures should not be
considered as alternatives to the most directly comparable GAAP
financial measures. Each of these non-GAAP financial measures has
important limitations as an analytical tool because it excludes some,
but not all, items that affect the most directly comparable GAAP
financial measure. You should not consider adjusted gross margin per
metric ton, adjusted EBITDA, or distributable cash flow in isolation or
as substitutes for analysis of our results as reported under GAAP. Our
definitions of these non-GAAP financial measures may not be comparable
to similarly titled measures of other companies, thereby diminishing
their utility.

The following tables present a reconciliation of adjusted gross margin
per metric ton, adjusted EBITDA, and distributable cash flow to the most
directly comparable GAAP financial measure, as applicable, for each of
the periods indicated.

		Three Months Ended June 30,
		2015			2014
					(Predecessor)
		(in thousands, except per metric ton)
Reconciliation of gross margin to adjusted gross margin per metric ton:
Metric tons sold			560			354
Gross margin		$	13,405		$	2,899
Depreciation and amortization (1)			7,034			4,695
Adjusted gross margin		$	20,439		$	7,594
Adjusted gross margin per metric ton		$	36.50		$	21.45

(1) Excludes depreciation of office furniture and equipment. Such amount
is included in general and administrative expenses.

ENVIVA PARTNERS, LP COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands) (Unaudited)
		Enviva, LP				Enviva								Enviva, LP
		Predecessor				Partners, LP				Combined				Predecessor
		April 1, 2015				May 5, 2015				Three Months				Three Months
		through				through				Ended				Ended
		May 4, 2015				June 30, 2015				June 30, 2015				June 30, 2014
Product sales		$	28,791			$	78,404			$	107,195			$	67,328
Other revenue			274				2,190				2,464				1,223
Net revenue			29,065				80,594				109,659				68,551
Cost of goods sold, excluding depreciation and amortization			24,547				64,673				89,220				60,957
Depreciation and amortization			1,928				5,106				7,034				4,695
Total cost of goods sold			26,475				69,779				96,254				65,652
Gross margin			2,590				10,815				13,405				2,899
General and administrative expenses			1,405				3,222				4,627				2,503
Income from operations			1,184				7,594				8,778				396
Other income (expense):
Interest expense			(1,140	)			(1,928	)			(3,068	)			(2,267	)
Early retirement of debt obligation			(4,699	)			–				(4,699	)			—
Other income			2				13				15				—
Total other expense, net			(5,837	)			(1,915	)			(7,752	)			(2,267	)
Net (loss) income			(4,653	)			5,679				1,026				(1,871	)
Less net loss attributable to noncontrolling partners’ interests			2				6				8				21
Net (loss) income attributable to Enviva Partners, LP		$	(4,651	)		$	5,685			$	1,034			$	(1,850	)

		Enviva, LP Predecessor				Enviva Partners, LP				Combined				Enviva, LP Predecessor
		April 1, 2015				May 5, 2015				Three Months				Three Months
		through				through				Ended				Ended
		May 4, 2015				June 30, 2015				June 30, 2015				June 30, 2014
		(in thousands)
Reconciliation of distributable cash flow and adjusted EBITDA to net (loss) income:
Net (loss) income		$	(4,653	)		$	5,679			$	1,026			$	(1,871	)
Add:
Depreciation and amortization			1,932				5,113				7,045				4,704
Interest expense			1,140				1,928				3,068				2,267
Early retirement of debt obligation			4,699				–				4,699				–
Non-cash unit compensation			–				183				183				–
Income tax expense (benefit)			1				(12	)			(11	)			4
Asset impairments and disposals			–				9				9				70
Adjusted EBITDA		$	3,119			$	12,900			$	16,019			$	5,174
Less:
Interest expense net of amortization of debt issuance costs and original issue discount			1,100				1,599				2,699				1,762
Maintenance capital expenditures			294				588				882				–
Distributable cash flow		$	1,725			$	10,713			$	12,438				3,412

The following table provides a reconciliation of the estimated range of
adjusted EBITDA to the estimated range of net income, in each case for
the six months ending December 31, 2015 (in millions):

	Six Months
	Ending
	December 31,
	2015
Estimated net income	$	11.5-13.5
Add:
Depreciation and amortization		12.0
Interest expense		5.2
Non-cash unit compensation		1.1
Income tax expense		0.1
Asset impairments and disposals		0.1
Estimated adjusted EBITDA	$	30.0-32.0

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 amount of products that the Partnership
is able to produce, which could be adversely affected by, among other
things, operating difficulties; (ii) the volume of products that the
Partnership is able to sell; (iii) the price at which the Partnership is
able to sell products; (iv) changes in the price and availability of
natural gas, coal, or other sources of energy; (v) changes in prevailing
economic conditions; (vi) the Partnership’s ability to complete
acquisitions, including acquisitions from its sponsor;
(vii) unanticipated ground, grade, or water conditions; (viii) inclement
or hazardous weather conditions, including extreme precipitation,
temperatures, and flooding; (ix) environmental hazards; (x) fires,
explosions, or other accidents; (xi) 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; (xii) inability to acquire or maintain necessary permits;
(xiii) inability to obtain necessary production equipment or replacement
parts; (xiv) technical difficulties or failures; (xv) labor disputes;
(xvi) late delivery of raw materials; (xvii) inability of the
Partnership’s customers to take delivery or their rejection of a
delivery of products; (xviii) changes in the price and availability of
transportation; and (xix) the Partnership’s 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 prospectus filed on April 29, 2015 in connection with the
IPO and the Quarterly Report on Form 10-Q for the quarter ended March
31, 2015. 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.

Notice

This press release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat one
hundred percent (100%) of the Partnership’s distributions to non-U.S.
investors as being attributable to income that is effectively connected
with a United States trade or business. Accordingly, the Partnership’s
distributions to non-U.S. investors are subject to federal income tax
withholding at the highest applicable effective tax rate.

Financial Statements

ENVIVA PARTNERS, LP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands)
		June 30,			December 31,
		2015			2014
					(Predecessor)
		(unaudited)
Assets
Current assets:
Cash and cash equivalents		$	76,668		$	592
Accounts receivable, net of allowance for doubtful accounts of $0 in 2015 and $61 in 2014			37,650			21,998
Related party receivable			998			–
Inventories			22,552			18,064
Restricted cash			–			11,640
Deferred issuance costs			–			4,052
Prepaid expenses and other current assets			3,340			1,734
Total current assets			141,208			58,080
Property, plant and equipment, net of accumulated depreciation of $44.6 million in 2015 and $40.9 million in 2014			323,590			316,259
Intangible assets, net of accumulated amortization of $5.3 million in 2015 and $1.0 million in 2014			5,113			722
Goodwill			85,615			4,879
Debt issuance costs, net of accumulated amortization of $0.2 million in 2015 and $3.0 million in 2014			4,894			3,594
Other long-term assets			616			955
Total assets		$	561,036		$	384,489
Liabilities and Partners’ Capital
Current liabilities:
Accounts payable		$	6,595		$	4,013
Related party payable			5,063			2,354
Accrued liabilities			13,413			8,159
Deferred revenue			537			60
Current portion of interest payable			1,918			73
Current portion of long-term debt and capital lease obligations			3,109			10,237
Total current liabilities			30,635			24,896
Long-term debt and capital lease obligations			174,403			83,838
Interest payable			590			572
Interest rate swap derivatives			–			101
Other long-term liabilities			541			554
Total liabilities			206,169			109,961
Commitments and contingencies
Partners’ capital:
Predecessor equity			–			271,495
General partner interest			–			–
Limited partner interests, 23.8 million units outstanding			351,850			–
Total Enviva Partners, LP partners’ capital			351,850			271,495
Noncontrolling partners’ interests			3,017			3,033
Total partners’ capital			354,867			274,528
Total liabilities and partners’ capital		$	561,036		$	384,489

ENVIVA PARTNERS, LP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per unit amounts) (Unaudited)
		Three Months Ended June 30,								Six Months Ended June 30,
		2015				2014				2015				2014
						(Predecessor)								(Predecessor)
Product sales		$	107,195			$	67,328			$	220,776			$	133,146
Other revenue			2,464				1,223				3,197				1,903
Net revenue			109,659				68,551				223,973				135,049
Cost of goods sold, excluding depreciation and amortization			89,220				60,957				183,620				121,610
Depreciation and amortization			7,034				4,695				15,293				9,541
Total cost of goods sold			96,254				65,652				198,913				131,151
Gross margin			13,405				2,899				25,060				3,898
General and administrative expenses			4,627				2,503				8,397				4,562
Income (loss) from operations			8,778				396				16,663				(664	)
Other income (expense):
Interest expense			(2,772	)			(2,267	)			(4,689	)			(4,495	)
Related party interest expense			(296	)			–				(1,097	)			–
Early retirement of debt obligation			(4,699	)			–				(4,699	)			(73	)
Other income			15				–				15				4
Total other expense, net			(7,752	)			(2,267	)			(10,470	)			(4,564	)
Income (loss) before tax expense			1,026				(1,871	)			6,193				(5,228	)
Income tax expense			–				–				2,656				–
Net income (loss)			1,026				(1,871	)			3,537				(5,228	)
Less net loss attributable to noncontrolling partners’ interests			8				21				16				42
Net income (loss) attributable to Enviva Partners, LP		$	1,034			$	(1,850	)		$	3,553			$	(5,186	)
Less: Predecessor loss to May 4, 2015 (prior to IPO)		$	(4,651	)						$	(2,132	)
Enviva Partners, LP partners’ interest in net income from May 5, 2015 to June 30, 2015		$	5,685							$	5,685
Net income per limited partner unit:
Common – basic and diluted		$	0.24							$	0.24
Subordinated – basic and diluted		$	0.24							$	0.24
Weighted average number of limited partner units outstanding:
Common – basic			11,905								11,905
Common – diluted			12,159								12,159
Subordinated – basic and diluted			11,905								11,905
Distribution declared per limited partner unit for respective periods		$	0.2630							$	0.2630

ENVIVA PARTNERS, LP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)
		Six Months Ended June 30,
		2015				2014
						(Predecessor)
Net income (loss)		$	3,537			$	(5,228	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			15,315				9,558
Amortization of debt issuance costs and original issue discount			875				1,011
General and administrative expense incurred by Enviva Holdings, LP			475				–
Allocation of income tax expense from Enviva Cottondale Acquisition I, LLC			2,663				–
Early retirement of debt obligation			4,699				73
Loss on disposals of property, plant and equipment			27				62
Unit-based compensation			183				1
Change in fair value of interest rate swap derivatives			23				44
Change in operating assets and liabilities:
Accounts receivable			(3,494	)			6,799
Prepaid expenses and other assets			(2,209	)			2,148
Inventories			(1,291	)			2,584
Other long-term assets			399				268
Accounts payable and accrued liabilities			8,659				2,421
Accrued interest			1,920				84
Deferred revenue			477				(411	)
Other long-term liabilities			25				258
Net cash provided by operating activities			32,283				19,672
Cash flows from investing activities:
Purchases of property, plant and equipment			(2,401	)			(12,982	)
Restricted cash			–				44
Payment of acquisition related costs			(3,573	)			–
Proceeds from the sale of equipment			53				31
Net cash used in investing activities			(5,921	)			(12,907	)
Cash flows from financing activities:
Principal payments on debt and capital lease obligations			(182,370	)			(21,263	)
Cash paid related to debt issuance costs			(5,123	)			–
Termination payment for interest rate swap derivatives			(146	)			–
Release of cash restricted for debt service			11,640				–
Cash restricted for debt service			–				(4,600	)
IPO proceeds, net			215,050				–
Distribution of cash and accounts receivable to sponsor			(4,153	)			–
Distribution to sponsor			(172,550	)			–
Cash paid deferred IPO costs			(1,340	)			–
Proceeds from contributions from sponsor			10,201				–
Proceeds from debt issuance			178,505				20,000
Net cash provided by (used in) financing activities			49,714				(5,863	)
Net increase in cash and cash equivalents			76,076				902
Cash and cash equivalents, beginning of period			592				3,558
Cash and cash equivalents, end of period		$	76,668			$	4,460

ENVIVA PARTNERS, LP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)
		Six Months Ended June 30,
		2015		2014
				(Predecessor)
Non-cash investing and financing activities:
The Partnership acquired property, plant and equipment in non-cash transactions as follows:
Property, plant and equipment acquired included in accounts payable and accrued liabilities		$ 302		$ 1,006
Property, plant and equipment acquired under capital leases		–		290
Property, plant and equipment transferred from prepaid expenses		173		–
Contribution of Enviva Pellets Cottondale, LLC net assets		122,240		–
Application of deferred IPO costs to partners’ capital		5,913		–
IPO costs included in accounts payable and accrued liabilities		370		–
Conveyance of Enviva Pellets Southampton, LLC to Hancock JV		91,696		–
Distribution of Enviva Pellets Lucedale assets to sponsor		31		–
Non-cash adjustments to financed insurance and prepaid expenses		105		–
Financed insurance		–		1,711
Depreciation capitalized to inventories		223		158
Early retirement of debt obligation:
Deposit applied to principal outstanding under promissory note		–		391
Deposit applied to accrued interest under promissory note		–		154
Non-cash capital contributions from sponsor		304		869
Supplemental information:
Interest paid		$ 2,950		$ 3,360