Page 1

enviva Enviva Reports Third - Quarter 2021 Results , Increases Distribution , and Announces First Industrial Contract ― BETHESDA , Md . , November 3 , 2021 - Enviva Partners , LP ( NYSE : EVA ) ( “ Enviva , ” “ we , ” “ us , ” or “ our ” ) today announced financial and operating results for the third quarter of 2021 , declared its 25th consecutive quarterly distribution increase , and announced its first direct contract with an industrial customer , a European counterparty that processes solid biomass into refined liquids that ultimately become high - grade renewable fuels like sustainable aviation fuel ( “ SAF ” ) and biodiesel . Highlights : • • • For the third quarter of 2021 , Enviva declared a distribution of $ 0.840 per common unit , an 8.4 % increase over the third quarter of 2020 and its 25th consecutive quarterly distribution increase since its IPO . Enviva expects to distribute $ 3.30 and $ 3.62 per share for full - year 2021 and 2022 , respectively For the third quarter of 2021 , Enviva reported a net loss of $ 0.1 million , adjusted net income of $ 28.3 million , and adjusted EBITDA of $ 62.9 million . Adjusted EBITDA increased by 15.6 % over the same period in 2020 On October 15 , 2021 , Enviva announced the acquisition of its former sponsor , Enviva Holdings , LP ( “ Holdings ” ) , and the elimination of incentive distributions rights ( the “ Simplification Transaction ” ) . Enviva also announced plans to convert from a master limited partnership to a corporation under the name of Enviva Inc. by the end of the year ( the “ Conversion " ) ; a unitholder meeting is now scheduled to be held on December 17 , 2021 Enviva announced the signing of a new 10 - year take - or - pay off - take contract to supply an industrial customer with up to approximately 1.2 million metric tons per year ( " MTPY " ) of wood pellets , to be refined into feedstock for the production of SAF and other renewable fuels , with initial annual deliveries of 60,000 MTPY expected to commence in 2023 “ For the third quarter of 2021 , Enviva delivered financial and operational results that represent an important step forward for us , and we are positioned for a solid finish to what has been an incredible year for our company , our team , and our equity holders , " said John Keppler , Chairman and Chief Executive Officer . " Today , we are very pleased to announce our inaugural contract in the rapidly growing industrial sector , with a customer who will process our solid biomass into refined liquids that ultimately become high - grade renewable fuels like sustainable aviation fuel and biodiesel . We expect this important milestone to be just the first of many as we work with large industrial customers who can use our products to make difficult - to - decarbonize industries less GHG - intensive and more sustainable . " 1