INVESTOR RELATIONS

Enviva Holdings, LP’s One Million Ton Off-Take Contract to Supply MGT’s Tees Renewable Energy Plant Becomes Firm

Thursday, August 11, 2016 2:12 pm EDT

Dateline:

BETHESDA, Md.

Public Company Information:

NYSE:
EVA

BETHESDA, Md.--(BUSINESS WIRE)--Enviva Wilmington Holdings, LLC (the “Hancock JV”), a joint venture between an affiliate of Enviva Holdings, LP and affiliates of John Hancock Life Insurance Company, today announced that its previously disclosed take-or-pay off-take contract (the “MGT Contract”) to supply MGT’s Tees Renewable Energy Plant (the “Tees REP”) with nearly 1 million metric tons per year (“MTPY”) of wood pellets is now firm as all conditions precedent to the effectiveness of the contract have been satisfied. Deliveries under the MGT Contract are expected to commence in 2019 and continue through 2034.

Enviva Holdings, LP is the sponsor of Enviva Partners, LP (the “Partnership”). The Partnership has a contract with the Hancock JV to supply 375,000 MTPY (the “EVA-MGT Contract”) of the contracted volume to the Tees REP. The EVA-MGT Contract is also now firm. The EVA-MGT Contract commences in 2019, ramps to full supply in 2021, and continues through 2034. This contract extends the weighted average remaining term of the Partnership’s off-take contracts to 9.6 years as of August 1, 2016.

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 in Southampton County, Virginia; Northampton County and Ahoskie, North Carolina; Amory and Wiggins, Mississippi; and Cottondale, Florida. We have a combined production capacity of approximately 2.3 million MTPY of wood pellets. In addition, the Partnership owns a deep-water marine terminal at the Port of Chesapeake, Virginia, which is used to export wood pellets. Enviva Partners also exports pellets through the ports of 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 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 delivery of products; (xviii) failure of the Partnership’s customers to pay or perform their contractual obligations to the Partnership; (xix) changes in the price and availability of transportation; and (xx) 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 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.

Contact:

Enviva Partners, LP
Investor Contact:
Raymond Kaszuba, 240-482-3856
ir@envivapartners.com
or
Media Contact:
Kent Jenkins, 240-482-3811
kent.jenkins@envivabiomass.com

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NYSE: EVA
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