BETHESDA, Md.–(BUSINESS WIRE)–Enviva Partners, LP (NYSE: EVA) (the “Partnership” or “we”) reports that
a fire commenced at its deep-water marine terminal in Chesapeake,
Virginia (the “Chesapeake terminal”) late on Tuesday, February 27, 2018.
The fire was quickly controlled due to the efforts of onsite personnel
and the Chesapeake terminal’s fire suppression and mitigation processes,
with assistance from local fire departments and other first responders.

While the Chesapeake terminal is being returned to safe, full commercial
operations, the Partnership expects to utilize several storage
alternatives to minimize the impact of the incident, including excess
capacity at its deep-water marine terminal in Wilmington, North Carolina
and other temporary storage facilities. The fire may impact the timing
and number of shipments in the first quarter of 2018 and the Partnership
expects to incur cost and liabilities associated with the event, which
may impact the first quarter’s financial results. However, due to the
Partnership’s portfolio of production plants and export terminals and
the fulfilment flexibility in its off-take contracts and shipping
schedule, the Partnership does not expect the fire to impact the
guidance provided in its earnings release on February 22, 2018 for
full-year 2018 adjusted EBITDA and distributable cash flow, subject to
recoveries under insurance policies it maintains to mitigate against
certain risks and other contractual rights.

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 the 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.

Non-GAAP Financial Measures

We use adjusted EBITDA and Distributable Cash Flow to measure our
financial performance.

Adjusted EBITDA

We define adjusted EBITDA as net income or loss excluding depreciation
and amortization, interest expense, income tax expense, early retirement
of debt obligations, non-cash unit compensation expense, asset
impairments and disposals, changes in the fair value of derivative
instruments, and certain items of income or loss that we characterize as
unrepresentative of our ongoing operations. 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, debt premium, and original issue discounts. We use
distributable cash flow as a performance metric to compare the
cash-generating performance of the Partnership from period to period and
to compare the cash-generating performance for specific periods to the
cash distributions (if any) that are expected to be paid to our
unitholders. We do not rely on distributable cash flow as a liquidity
measure.

Adjusted EBITDA and distributable cash flow are not financial measures
presented in accordance with 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 they exclude some, but not all, items that
affect the most directly comparable GAAP financial measures. You should
not consider 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.

A reconciliation of estimated adjusted EBITDA and estimated
distributable cash flow to GAAP net income is not provided because
forward-looking GAAP net income is not accessible and reconciling
information is not available without unreasonable effort. The
Partnership has not determined the impact of the fire on reconciling
items such as one-time costs and expenses and asset impairments or
disposals. The amount of impact of the fire on these and other
reconciling items could be significant, such that the actual amount of
net income generated by the Partnership in the year ending December 31,
2018 could vary substantially from the amount of estimated adjusted
EBITDA and estimated distributable cash flow.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute
“forward-looking statements” within the meaning of federal securities
laws, including statements regarding the Partnership’s ability to return
the Chesapeake terminal to safe, full commercial operations and to
mitigate the disruption caused by the fire on the Partnership’s
business, the anticipated recovery of a portion of the costs or
liabilities from the Partnership’s insurance carriers or others, and the
Partnership’s ability to achieve its full-year 2018 guidance. These
forward-looking statements represent the Partnership’s expectations or
beliefs concerning future events, and it is possible that the results
described in this press release will not be achieved. These
forward-looking statements are subject to risks, uncertainties, and
other factors, including, among others, the financial and operational
impact of the fire, the duration the Chesapeake terminal is
non-operational, and the amount of expenditures necessary to remedy any
damage, any of which could cause actual results to differ materially
from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is
made and, except as required by law, the Partnership does not undertake
any obligation to update or revise any forward-looking statement,
whether as a result of new information, future events, or otherwise. New
factors emerge from time to time, and it is not possible for the
Partnership to predict all such factors. When considering these
forward-looking statements, you should keep in mind the risk factors and
other cautionary statements in the Partnership’s annual report on Form
10-K and any quarterly reports on Form 10-Q. The risk factors and other
factors noted therein could cause actual events or the Partnership’s
actual results to differ materially from those contained in any
forward-looking statement.