FORWARD-LOOKING AND CAUTIONARY STATEMENTS Forward-looking statements This presentation contains “forward-looking statements” within the meaning of the securities laws. All statements, other than statements of historical fact, included in this presentation that address activities, events or developments that Enviva Partners, LP (NYSE: EVA) (“Enviva,” the “Partnership,” “we,” or “us”) expects, believes or anticipates will or may occur in the future are forward-looking statements. The words “believe,” “expect,” “may,” “estimates,” “will,” “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. However, the absence of these words does not mean that the statements are not forward-looking. These statements are based on certain assumptions made by Enviva based on management’s expectations and perception of historical trends, current conditions, anticipated future developments, and other factors believed to be appropriate. Although Enviva believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond its control, Enviva cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions. A number of the assumptions on which these forward-looking statements are based are subject to risks and uncertainties, many of which are beyond the control of Enviva, and may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These risks and uncertainties include the factors discussed or referenced in our filings with the Securities and Exchange Commission (the “SEC”), including the Annual Report on Form 10-K and the Quarterly Reports on Form 10-Q most recently filed with the SEC, including those risks relating to financial performance and results, economic conditions and resulting capital restraints, availability of sufficient capital to execute Enviva’s business plan, the ability of Enviva to complete acquisitions and realize the anticipated benefits of such acquisitions, impact of compliance with legislation and regulations and other important factors that could cause actual results to differ materially from those projected. When considering the forward-looking statements, you should keep in mind the risk factors and other cautionary statements in such filings. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which such statement is made, and Enviva undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. All forward-looking statements attributable to Enviva are qualified in their entirety by this cautionary statement. Industry and market data This presentation has been prepared by Enviva and includes market data and other statistical information from third-party sources, including independent industry publications, government publications or other published independent sources. Although Enviva believes these third-party sources are reliable as of their respective dates, Enviva has not independently verified the accuracy or completeness of this information. Some data is also based on Enviva’s good faith estimates, which are derived from its review of internal sources as well as the third-party sources described above. 2

COMPANY HIGHLIGHTS: HIGH-GROWTH, “DROP-DOWN” MLP Strong fiber baskets deliver low-cost, growing natural resource, and stable pricing 1) International Energy Agency: Renewables 2018 – Analysis and Forecasts to 2023; 2) Hawkins Wright: The Outlook for Wood Pellets – Demand, Supply, Costs and Prices; Third Quarter 2018, demand forecast for industrial pellets; 3) Source for biomass-fired capacity: Bloomberg New Energy Finance: Japan Biomass Market Update, June 30, 2016. Estimated demand for biomass of 15 to 20 million metric tons per year is based on Enviva’s conservative estimates assuming power plant efficiencies similar to existing European customers. Actual biomass consumption at Japanese power plants may vary; 4) As of November 1, 2018, excluding contracts between our long-term off-take customers and our Sponsor and the Sponsor's JVs; 5) References to the “First JV” and the “Second JV” refer to Enviva Wilmington Holdings, LLC and Enviva JV Development Company, LLC, respectively, which are joint ventures between our Sponsor and affiliates of John Hancock Life Insurance Company (U.S.A.) (“John Hancock”). The First JV and the Second JV are collectively referred to as the “Sponsor's JVs”; 6) Includes a 15-year, 180,000 MTPY contract between Mitsubishi Corporation and the Partnership, a 15-year, 450,000 MTPY contract between Mitsubishi Corporation and our Sponsor, two 15-year contracts totaling 520,000 MTPY between Sumitomo Corporation and our Sponsor, a 10-year, 100,000 MTPY contract between Marubeni Corporation and the Partnership, and a 15-year, 180,000 MTPY contract between Marubeni Corporation and the Partnership. All contracts are expected to commence in 2021/2022; 7) On November 8, 2018, reaffirmed full-year 2018 distribution guidance of at least $2.53 per unit; 8) Subject to receiving the necessary permits 3 EXPERIENCED MANAGEMENT Management team led by industry founders and seasoned public company executives Demonstrated expertise acquiring, building, operating, and contracting / re-contracting platform assets Management rewarded for sustained growth in per-unit distributable cash flow SUBSTANTIAL GROWTH OPPORTUNITIES Expect aggregate distributions for 2018 of at least $2.53 per unit7 7-10% anticipated annual organic growth. Recently announced planned expansions at Southampton and Northampton plants totaling 400,000 MTPY8 Consistent track record of drop-down acquisitions from our Sponsor. Visible 2019/2020 drop-down pipeline includes incremental adjusted EBITDA from Wilmington terminal with Hamlet volumes, the Hamlet plant, and the Greenwood plant Potential to more than double the Partnership’s 2018 adjusted EBITDA in a few years with drop-down acquisitions, expansions, and organic growth WORLD’S LARGEST SUPPLIER OF UTILITY-GRADE WOOD PELLETS TO MAJOR POWER GENERATORS WITH ALMOST 3 MILLION METRIC TONS PER YEAR (“MTPY”) OF CONTRACTED PRODUCTION CAPACITY COMPELLING INDUSTRY FUNDAMENTALS Critical supply chain partner for major power generators worldwide Bioenergy’s share in the world’s total renewables consumption is about 50% today1 Supportive multinational regulatory frameworks result in forecasted demand growing at 15% CAGR through 20222 Japan is targeting 6.0 to 7.5 gigawatts (“GWs”) of biomass-fired capacity by 2030, representing demand for 15 to 20 million MTPY of biomass3 Supply not adequate for demand with few providers of scale ADVANTAGED ASSETS Fully-contracted, strategically located production plants exporting through multiple deep-water marine terminals Embedded low cost to-port logistics and favorable long-term fixed-rate shipping contracts Sales strategy is to fully contract our production capacity under long-term, take-or-pay contracts. Fully contracted through 2025 Contracts carry a weighted-average remaining term of 9.4 years and a contracted revenue backlog of $7.4 billion4, increasing to 11.5 years and $12.1 billion, respectively, if volumes held by the Partnership, our Sponsor and its joint ventures are included5 The Partnership recently extended its relationship with Drax Power Limited with a 5-year, 650,000 MTPY contract starting in 2022 and executed an agreement with Lynemouth Power Limited to increase annual sales volume by 200,000 MTPY for three years starting in 2020 The Partnership and our Sponsor have now entered into firm long-term off-take contracts with Mitsubishi, Sumitomo, and Marubeni totaling almost 1.5 million MTPY into Japan6 LONG-TERM OFF-TAKE CONTRACTS

ENVIVA SOLVES A GROWING, UNMET CHALLENGE FOR GENERATORS Wood pellets provide low-cost, drop-in solution Market growing rapidly: demand forecasted at 15% CAGR through 20222 Major industrial economies in the UK and EU are far short of binding, national-level 2020 and 2030 renewable targets Enviva is only enterprise supplier of scale In addition to renewables targets, Japan is addressing capacity shortage issues following the Fukushima nuclear disaster 30.2 million MTPY of forecasted global demand in 20222 Progress To Binding 2020 Renewables Targets1 2022 Industrial Pellet Volume (Millions MTPY)2 Gap Asia Europe % of Target % Short GER Demand Supply NL UK BEL FR DK 1) 2) Eurostat News Release – January 25, 2018; Publication: Share of renewables in energy consumption in the EU reached 17% in 2016 Hawkins Wright: The Outlook for Wood Pellets – Demand, Supply, Costs and Prices; Third Quarter 2018. North American industrial pellet demand forecasted to be 90,000 tons in 2022. Identified supply represents total estimated capacity in 2020 4 11.4 18.7 Supplly 34..97 Identified Supply 26.3 57% 38% 33% 30% 18%

OUR PRODUCT IS THE LOW-COST, DROP-IN SOLUTION FOR COAL 1) 4) Enviva; 2) CME Group; 3) Union Pacific Aurora Energy Research – Biomass conversions & the system cost of renewables (November 2016). Total System Cost of Electricity (TSCE) is the per-megawatthour cost of building and operating a generating plant over an assumed financial life including intermittency, security of supply, balancing, grid expansion, and heat adjustment (applicable for CHP only). Data is for Germany and may not be representative of all the markets in which we or our customers operate. CHP is Combined Heat & Power. Expansion costs are related to the electricity grid only. New build CCGT could require gas grid expansions, the cost of which is not included here IHS Markit: Levelized Cost of Power Generation in Japan, May 8, 2017. Costs are presented in real terms, as of 2020. In contrast to TSCE, Levelized Cost of Electricity (LCOE) does not include the intermittency costs associated with wind and solar power. LCOE for Dedicated Biomass assumes biomass wood-burning power plants with 112 MW of capacity and 40% efficiency 5 5) Levelized Cost of Electricity in Japan in 2020 (US$ / MWh)5 Biomass Firing $0$50$100$150$200$250 Solar Wind Dedicated Co-CCGT Biomass Total System Cost of Electricity in Germany (€ / MWh)4 olar iomass Conversion 0 €50 €100 €150 € S Onshore Wind ith B CCGT Biomass Conversion w CHP Firm dispatchable capacity Biomass is the lowest-cost solution and essential complement to intermittent sources of renewables. Wood Pellet vs. Coal Attributes Wood Pellets(1)NYMEX CAPP Coal(2) Southern PRB Coal(3) Median Heat Content (BTU/lb)8,00012,0008,600 Moisture4 – 10%< 10%26 – 30% Ash0 – 2%< 13.5%4.6 – 5.7% Sulfur0 – 0.15%< 1.0%< 1.0%

MARKET SEEING REGULATORY STABILITY AND ORDERLY GROWTH Capacity Needs, and Renewable Energy Standards 9 Growing Asian Demand Driven by New Feed-in Tariffs, Policy Characteristics for Enviva’s Target Markets 1Biomass energy providing a compelling solution to the “trilemma” of energy cost, decarbonization, and grid stability 2Baseload / dispatchable characteristics of biomass power seen as a major advantage as electricity systems are placed under strain 3Policy-makers focused on improving financial discipline on a “total cost” basis, leading to more competition among renewables, where biomass can prevail 4Asian market maturing towards long-term supply contract structure, and can be cost-competitively supplied from the Southeastern U.S. 5In Japan, most nuclear reactors remain offline, creating capacity constraints due to lack of baseload generation. World’s highest feed-in tariff incenting renewable power generation 6Biomass co-firing of U.S. coal fleet can extend plant lives, preserve jobs, and benefit rural economies Northern European Countries Where Enviva’s Long-term Contracted Customers are Based

LIFECYCLE GREENHOUSE GAS EMISSIONS REDUCTION United Nations: “In fact, using biomass for electricity and heat, for example, co-firing of woody biomass with coal in the near term and large heating systems coupled with networks for district heating…are among the most cost-efficient and effective biomass applications for GHG emission reduction in modern pathways.”2 International Energy Agency: “Modern bioenergy plays an essential role in the International Energy Agency (IEA) 2C scenario, providing nearly 17% of final energy demand in 2060 compared to 4.5% in 2015.”3 European Union: “The reinforced EU sustainability criteria on bioenergy aim to continue guaranteeing the sustainability of forest biomass used in the energy sector.”4 U.S. EPA / USDA / DOE: “A stronger bioenergy market helps America achieve a variety of forest management and sustainability goals, including: reducing wildfire risks, improving forest health, increasing restoration, watershed improvements, creating new wildlife habitat, timber stand improvement, aesthetics, and more.”5 1) 2) 3) 4) 5) UK Environment Agency: Minimising greenhouse gas emissions from biomass energy generation (2009) IPCC, 2014: Climate Change 2014: Mitigation of Climate Change. Contribution of Working Group III to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change International Energy Agency: Technology Roadmap – Delivering Sustainable Bioenergy European Commission: Proposal for a Directive of the European Parliament and of the Council on the promotion of the use of energy from renewable sources, June 21, 2018 EPA News Release: EPA Acting Administrator Wheeler, USDA Secretary Perdue, and DOE Secretary Perry Send Letter to Congress on Biomass Carbon Neutrality, November 1, 2018 10 Switching from coal to biomass reduces emissions of carbon dioxide by between 74% and 90% on a lifecycle basis1

OUR ACTIVITIES SUSTAIN THRIVING, HEALTHY FORESTS Since Enviva opened its first U.S. mill in 2011 Arboricultural Pine/Hardwood Between 2011 and 2016, forest inventory in our supply base increased by more than 150 million tons1 36% 1) 2) 3) 4) 5) FIA data USDA - http://blogs.usda.gov/2015/06/08/study-finds-increasing-wood-pellet-demand-boosts-forest-growth-reduces-greenhouse-gas-emissions-creates-jobs/ 2015 The information in this panel is based on wood supplied to current Enviva facilities during Q4 2017 & Q1 2018 This wood consists of undersized or “understory” wood that was removed as part of a larger harvest; tops and limbs; brush and “thinnings” that were removed to make additional room for planted pines to grow We can identify the individual production facilities that provided these materials 11 “An industry that can reduce greenhouse gas emissions, increase forest growth, and create jobs sounds too good to be true. But that is the reality of the emerging wood pellet market in the Southern U.S.”2 -USDA Chief Economist Robert Johansson Certifications and Ongoing Audits by Independent Agencies: PEFC/29-31-238SFI-01203 Our Wood Came from These Sources:3 0.1%41% 2%and OtherMixed Forests4 Bottomland Hardwood Forests4 3% Upland Hardwood Forests4 19%Southern Yellow Sawdust &Pine Forests4 Industry Residues5 Our Track & Trace Program, a first-of-its-kind system, is an important element of our responsible wood supply program and provides unprecedented transparency into our procurement activities

SUPPLY GAP CREATED BY MULTIPLE HURDLES TO ENTRY Limited Supply Chain Infrastructure with reputable Fragmented Natural Resource Base term margin stability and Deep Process Capabilities Required Wood Aggregation Truck / Rail Loading Debarking & Chipping Size Reduction Wood Receiving & Storage Shipping Port Storage Drying Pelleting Commitment to Excellence in Safety, Sustainability & Reliability 12 Long-term, fixed-price shipping contracts logistics providers Off-take contract pricing escalators enable long-mitigate exposure to uncontrollable changes to cost position Plants strategically located in one of the most attractive wood fiber regions in the world Proximity to terminals results in low “to-port” transportation costs Cost-effective transportation due to ownership and/or control of ports

DURABLE COMPETITIVE ADVANTAGE Plants1 EnvEinvviava U.S. 1 3 1) Enviva’s total production capacity and number of plants are based on nameplate capacities of existing plants, the estimated capacity of the Hamlet and Greenwood plants, which are owned by the Sponsor's JVs, and planned capacity expansion at Southampton and Northampton plants. Production capacity and number of plants for other pellet producers are based on Hawkins Wright: The Outlook for Wood Pellets – Demand, Supply, Costs and Prices; Third Quarter 2018 Although the Greenwood plant is included in the category of “under development/construction,” it is currently operational 2) 13 Production Capacity (Thousand MTPY)050010001500200025003000350040004500# ofLocation 8U.S. GLOBAL ENTERPRISE SUPPLIERSGraanul Invest Pinnacle Renewable Energy 12Baltics 9Canada 3U.S. 1U.S. 1Vietnam 3U.S. Enviva’s existing production represents approximately 13% of current global utility-grade wood pellet production capacity1Canada 1Brazil Current CapacityUnder development/construction or financed for completion by 20202 An Việt Phát FRAM Renewable Fuels SMALL & REGIONAL SUPPLIERSHighland Pellets Pacific Bioenergy Tanac SA VERTICALLY-INTEGRATEDDrax Biomass SUPPLIERSGeorgia Biomass (RWE) Enviva is the world’s largest publicly traded global enterprise supplier in a highly fragmented industry with numerous small, single-plant operators ▪A “build and copy” approach allows for highly efficient, large-scale production facilities and creates operating leverage ▪Multi-plant profile and global scale translate into superior reliability and opportunities for optimization ▪Access to robust fiber baskets allows for reliable raw material supply and a flat marginal cost curve for incremental production

ENVIVA PARTNERS, LP: PRODUCTION PLANTS AND TERMINAL ASSETS Location: Chesapeake, VA, wholly-owned Amory, MS Location: Panama City, FL by Enviva Plants Ports 1)Does not include production capacity expansion announced as part of our Earnings Release as of November 8, 2018 15 Port of Mobile, AL Port of Panama City, FL Cottondale, FL Port of Wilmington, NC Sampson, NC Ahoskie, NC Port of Chesapeake, VA Port of Mobile Location: Mobile, AL Startup: 3rd Party Agreement Storage: Flex barge storage with 45K+ metric tons of capacity Port of Chesapeake by Enviva Startup: November 2011 Storage: Dome storage with 90K metric tons of capacity Port of Panama City Startup: 3rd Party Agreement Storage: Warehouse storage with 32K metric tons of capacity Port of Wilmington Location: Wilmington, NC, wholly-owned Startup: 2016 Storage: Dome storage with 90K metric tons of capacity Amory Location: Amory, MS Startup: August 2010 (acquired) Annual Production: 120K MTPY Ahoskie Location: Ahoskie, NC Startup: November 2011 Annual Production: 400K MTPY Southampton1 Location: Southampton, VA Startup: October 2013 Annual Production: 550K MTPY Northampton1 Location: Northampton, NC Startup: April 2013 Annual Production: 550K MTPY Cottondale Location: Cottondale, FL Startup: May 2008 (acquired) Annual Production: 730K MTPY Sampson Location: Sampson, NC Startup: November 2016 Annual Production: 545K MTPY, expected to increase to 600K MTPY in 2019 Northampton, NC Southampton, VA Storage and Terminaling Assets Production Plants – 2.9 million MTPY Capacity

NEGATIVE DEPLETION RESOURCE PLAY 1) 2) 3) FIA Data FIA Data, from 2000 through 2016, total wood fiber volume in the four primary areas Enviva sources its wood fiber grew by approximately 9.9 billion cubic feet, a net increase of 24% from 2000 U.S. Crude Oil and Natural Gas Proved Reserve, Year-end 2016, U.S. Energy Information Administration. As of 12/31/2016, proved oil and natural gas reserves of the U.S. were approximately 94.0 billion barrels of oil equivalent with approximately 12.4 billion barrels of oil equivalents in the Permian Basin 16 Wood Fiber (in billion cubic feet) Advantaged Resource Availability ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ‘16 Annual FiberAnnual Fiber GrowthDrain Wood fiber analog to conventional oil and gas would be adding the proved reserves of nearly two additional Permian Basins in the U.S.3 24% net growth in volume of wood fiber in Enviva’s procurement areas2 Robust Resource with Fragmented Supplier Base Hardwood RoundwoodPine RoundwoodOpen / Farmland 65,000+ private landowners16 million+ tons net annual fiber excess1 640 million+ tons of fiber1 million tons annual facility demand Northampton 75 mi.

BUSINESS MODEL MITIGATES RISK Off-take Contracts Long-term, take-or-pay, price determinant with make-whole and market-based damages Predominantly U.S. Dollar denominated Cost pass-throughs and escalators protect against inflation, cost of fiber, and fuel costs Provisions to protect against changes in laws, import duties, and taxes Markets / Financial Conservative balance sheet No direct exposure to crude oil or natural gas prices Customary insurance program geared for operations and scale of business Currency hedges in place to mitigate relatively small amount of foreign currency risk $350 million expanded revolver provides significant financial flexibility Operations & Fiber Geographically dispersed fleet of production plants located in strong fiber baskets Strategically located portfolio of ports providing optimal to-port logistics “Build and copy” approach facilitates common processes and operational knowledge Durable cash flows Shipping Long-term, fixed-rate shipping contracts matching off-take tenor and volume Multiple shipping partners Cost of bunker fuel passed through to customer 18 Note: off-take contract terms are examples of various provisions within our portfolio of contracts; no single contract in our portfolio contains every provision listed above

FULLY CONTRACTED PRODUCTION PROFILE EVA Production Firm Off-Take Contracts Contracted volumes in the graph above include only contracts of Enviva Partners, LP or its subsidiaries and do not include volumes under our Sponsor and the Sponsor's JVs’ contracts 1) 2) As of November 1, 2018, excluding contracts between our long-term off-take customers and our Sponsor and the Sponsor's JVs Does not take into account other opportunities the Partnership expects to have to increase production capacity, except planned production capacity expansions totaling 400,000 MTPY at the Partnership’s Southampton and Northampton plants, subject to receiving the necessary permits, as announced as part of our Earnings Release as of November 8, 2018 Represents the estimated volumes the Partnership is expected to purchase from the Second JV under the off-take contract for the Greenwood plant’s production and does not include volumes sourced from third parties 19 3) Sales strategy is to fully contract our production capacity under long-term agreements $7.4 Billion Contracted revenue backlog1 9.4 Years Partnership’s weighted-average remaining term of off-take contracts1 Fully contracted through 2025 Thousand MTPY 2 EVA Purchases 3 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 20182019202020212022

CONTRACT AND MARKET UPDATE – EUROPE In June, the European Commission, the European Council, and the European Parliament announced the agreement of key policy terms of the Renewable Energy Directive II (“RED II”) framework, including a binding EU-wide target share for renewables of 32 percent in the energy mix by 2030, up from the target of 20 percent by 2020. The agreement also reconfirmed that energy generated from biomass counts towards the renewable energy target and is eligible for support mechanisms. To deliver its contribution to the EU-wide 2030 renewable target of 32 percent, the Government of Ireland recently approved the Renewable Electricity Support Scheme, which introduces a new incentive auction system where all renewable technologies, including biomass, are eligible to bid for state support. To meet its binding obligations, the Government of Ireland also committed to achieve 40 percent renewable electricity by 2020 with a 2030 ambition of 55 percent. The Dutch government announced the results of its Spring 2018 SDE+ allocation round, with 27 percent of total funds awarded to biomass projects, representing 50 projects and approximately EUR 950 million of incentives. The government also confirmed that a further EUR 6 billion of total incentives will be available in the Autumn 2018 allocation round, which opened in October 2018. In Germany, the Special Commission on Growth, Structural Economic Change and Employment, otherwise known as the “Coal Commission,” continues to deliberate on a pathway to end coal generation in order to reach its 2050 carbon emissions reduction objectives. Meanwhile, the government’s parallel goal of retiring all nuclear capacity by the end of 2022 creates challenges that renewable biomass baseload generation can help solve. The Partnership announced it has recently extended its relationship with Drax by executing a firm, take-or-pay off-take contract to supply 650,000 MTPY of wood pellets starting in 2022 and continuing through 2026. In addition, the Partnership has agreed with Lynemouth Power Limited to increase the annual sales volume under their existing off-take contract by 200,000 MTPY for three years starting in 2020. 1)Hawkins Wright: The Outlook for Wood Pellets – Demand, Supply, Costs and Prices; Third Quarter 2018 21 European industrial wood pellet demand expected to grow to 18.7 million tons by 2022, a 10% annual growth rate1

CONTRACT AND MARKET UPDATE – ASIA AND REST OF WORLD In Japan, long-term demand of imported wood pellets continues to grow as the government targets 6.0 to 7.5 GWs of biomass-fired capacity, which represents demand for 15 to 20 million MTPY of biomass, as part of its expected power source mix for 20302. Japan’s operating biomass power generation capacity approved under its feed-in-tariff (FiT) scheme reached approximately 2.4 GWs in the fiscal year ended March 31, 2018.3 The Japanese government approved the country’s fifth Strategic Energy Plan prepared by the Ministry of Economy, Trade, and Industry. In addition to confirming renewable energy’s target share of 22 to 24 percent in Japan’s 2030 energy mix, the plan designated renewables, including biomass, as a main source of power generation, indicating a major shift in government policy that recognizes renewable energy’s role as a baseload power source. The Partnership’s previously announced 630,000 MTPY long-term take-or-pay off-take contracts with Mitsubishi Corporation, pursuant to which the Partnership and the Second JV will supply 180,000 MTPY and 450,000 MTPY of wood pellets, respectively, are now firm. Both contracts are expected to commence in 2022 and continue for at least fifteen years. Under terms of the agreements, Enviva will be the exclusive, long-term imported biomass fuel supplier to the Aioi Bioenergy Corporation, a joint venture between Mitsubishi Corporation Power Ltd. and Kansai Electric Power Co. The Partnership’s Sponsor executed two firm take-or-pay off-take contracts with Sumitomo Corporation to supply a total of 520,000 MTPY of wood pellets to new biomass power plants in Japan, including a 15-year, 270,000 MTPY contract commencing in 2022 and a 15-year, 250,000 MTPY contract commencing in 2021. The Partnership executed a 10-year take-or-pay off-take contract to supply 100,000 MTPY of wood pellets and a 15-year take-or-pay off-take contract to supply 180,000 MTPY of wood pellets to Marubeni Corporation. Both contracts will commence in 2022. Since the end of 2017, the Partnership has delivered several vessels under its contract to supply a minimum of 220,000 metric tons over three years to Albioma’s 36.5 megawatt, biomass-fueled CHP facility in Martinique. Albioma’s model is replicable in island nations around the world, highlighting the economic benefits of coupling locally sourced biomass with imported wood pellets to displace higher-cost fossil fuels with a compelling environmental solution. 1) 2) Hawkins Wright: The Outlook for Wood Pellets – Demand, Supply, Costs and Prices; Third Quarter 2018 Source for biomass-fired capacity: Bloomberg New Energy Finance: Japan Biomass Market Update, June 30, 2016. Estimated demand for biomass of 15 to 20 million metric tons per year is based on Enviva’s conservative estimates assuming power plant efficiencies similar to existing European customers. Actual biomass consumption at Japanese power plants may vary Per Japan’s Ministry of Economy, Trade and Industry, October 17, 2018 3) 22 Asian industrial wood pellet demand expected to grow to nearly 11.4 million tons by 2022, a 29% annual growth rate1

THREE PILLARS OF GROWTH strategic capability, and/or geographic Wilmington terminal with Hamlet volumes in each of 2019 and 2020 1) Subject to receiving the necessary permits. Additional details are available as part of our Earnings Release as of November 8, 2018; 2) The estimated incremental adjusted EBITDA that can be expected from the expansions is based on an internal financial analysis of the anticipated benefit from the incremental production capacity at the Northampton and Southampton production plants. For an explanation of why we are unable to reconcile the estimated adjusted EBITDA for the expansions to the most directly comparable GAAP financial measures, please see slide 47; 3) Based on increases in nameplate capacity at the Amory, Ahoskie, Southampton, Northampton, Cottondale, and Sampson plants from 2016 to 2017; 4) Based on decreases in delivered fiber costs for Amory, Ahoskie, Southampton, Northampton, and Cottondale plants from 2016 to 2017; the Sampson plant is not included as it was not owned by the Partnership for the full year of 2016 24 Third-Party Acquisition Opportunities Proven, successful, and selective acquirer Acquisitions must compare favorably to Sponsor development pipeline and drop-down economics Target opportunities must be core to the business and bring new customer set, diversification Accretive Drop-Downs from Sponsor Three drop-downs since IPO including 1.1 million MTPY of production capacity and 3 million MTPY of terminaling capacity Visible 2019/2020 drop-down pipeline includes incremental Wilmington terminal adjusted EBITDA, the Hamlet plant, and the Greenwood plant: Incremental adjusted EBITDA from One production plant drop-down expected 3+ million MTPY development pipeline at our Sponsor Our Sponsor’s joint venture expects to make the final investment decision on a deep-water marine terminal in Pascagoula, MS and a wood pellet production plant in Lucedale, MS in late 2018 or early 2019 Organic Growth within the Partnership Pricing increases and escalators under existing contracted position 400,000 MTPY planned production capacity expansion at Northampton and Southampton1 ~$30.0 million in expected incremental adjusted EBITDA annually2 ~$130.0 million expected investment Expected completion of construction in early 2020 with startup shortly thereafter 7 - 10% anticipated annual organic growth driven by contract price escalations, cost reduction, and productivity improvements 5% increase in nameplate production capacity achieved in 2017 over 20163 Reduced delivered fiber costs by approximately 5% in 2017 from 20164

STRATEGIC CLUSTERS Sampson Plant Hamlet Plant1 Greenwood Plant2 Port of Wilmington Expected to increase production capacity to 600,000 MTPY in 20195 Production will be initially sold to the Partnership under a 4-year off-take contract 600,000 MTPY upon achieving full production capacity Drop-down acquisition completed in December 2016 and included a long-term contract with Ørsted 3 million MTPY capacity Drop-down acquisition completed in October 2017 $8 million adjusted EBITDA growing to $16 million once the Hamlet plant reaches its expected full production rate of 600,000 MTPY3,4 600,000 MTPY capacity Expected to be operational in the first half of 2019 Production expected to support our Sponsor’s off-take contract to supply the Macquarie MGT Teesside project in the UK 1) 2) 3) 4) Currently owned by the First JV Currently owned by the Second JV For a reconciliation of estimated adjusted EBITDA to estimated net (loss) income, please see slide 46. Additional details are available as part of our Earnings Release as of May 10, 2017 For an explanation of why we are unable to reconcile the estimated adjusted EBITDA of $16.0 million per year for Enviva’s Port of Wilmington terminal once the Hamlet plant reaches its expected full production rate to the most directly comparable GAAP financial measures, please see slide 47 The Greenwood plant is expected to increase production capacity to 600,000 MTPY in 2019, after production ramp and incremental capital investments have been completed, subject to receipt of necessary permits 5) 25 Wilmington, NC Cluster Port of Wilmington Plants Port Greenwood Plant Hamlet Plant Sampson Plant

DEVELOPMENT AND EXPANSION OPPORTUNITIES 1)Assets under control / assessment are shown at approximate locations 2)The estimated incremental adjusted EBITDA is based on an internal financial analysis of the anticipated benefit from the incremental production capacity at the Northampton and Southampton production plants. For an explanation of why we are unable to reconcile the estimated adjusted EBITDA for the expansions to the most directly comparable GAAP financial measures, please see slide 47 26 Planned Production Capacity Expansion at Southampton and Northampton Plants ~400,000 MTPY expected capacity expansion ~$30.0 million in expected incremental adjusted EBITDA annually2 ~$130.0 million expected investment in additional production assets and emissions control equipment Expected completion of construction in early 2020 with startup shortly thereafter Sponsor’s Development Pipeline – “Build and Copy” Approach Hamlet, NC Greenwood, SC Taylorsville, MSEpes, AL Lucedale, MSPort of Jacksonville, FL Port of Pascagoula, MS Plants in the PartnershipPorts in or leased by the Partnership Plants under construction / expansionPort sites under control / assessment1 Plant sites under control / assessment1

VISIBLE GROWTH 1) On November 8, 2018, provided full-year 2019 guidance for adjusted EBITDA in a range of $125 million to $135 million; 2) Based on estimated run-rate adjusted EBITDA for Wilmington once the Hamlet plant reaches its expected full production rate of 600,000 MTPY. Additional details are available as part of our Earnings Release as of May 10, 2017. Although we expect the Hamlet plant to be successfully completed, we cannot assure you that our Sponsor or the Sponsor's JVs will be successful in completing this development project; 3) The estimated incremental adjusted EBITDA that can be expected from a plant drop-down is based on similar plants in our portfolio. Although we expect to have the opportunity to acquire assets or completed development projects, including the Hamlet, Greenwood, and Lucedale plants, from our Sponsor or the Sponsor's JVs in the future, we cannot assure you that our Sponsor or the Sponsor's JVs will be successful in completing their development/improvement projects or that we will successfully negotiate an agreement with our Sponsor or the Sponsor's JVs to acquire such assets or projects; 4) The estimated incremental adjusted EBITDA that can be expected from the Northampton and Southampton expansions is based on an internal financial analysis of the anticipated benefit from the incremental production capacity at these plants; 5) The Second JV is currently developing a wood pellet production plant in Lucedale, Mississippi, and expects to make a final investment decision on this facility in late 2018 or early 2019. Although we expect to have the opportunity to acquire assets or completed development projects from our Sponsor or the Second JV in the future, we cannot assure you that our Sponsor or the Second JV will be successful in completing their development/improvement projects or that we will successfully negotiate an agreement with our Sponsor or the Second JV to acquire such assets or projects See slides 45 for reconciliation of estimated adjusted EBITDA to estimated net (loss) income. For an explanation of why we are unable to reconcile the estimated adjusted EBITDA for the Northampton and Southampton expansions and for Wilmington once the Hamlet plant reaches its expected full production rate to the most directly comparable GAAP financial measures, please see slide 47 27 Port ofDrop-Down3 + 7 – 10% anticipated annual organic growth expected in underlying base business without drop-down acquisitions Potential to more than double 2018 adj. EBITDA in a few yearsPotential Plant in Lucedale3, 5 Northampton & Southampton Expansion4 2020 Plant Drop-Down3 2019 Plant Wilmington Throughput from Hamlet2 2019 Guidance1 $125 – $135 $6 - $8 ~ $25 $30+ ~ $25

GROWTH SUPPORTED BY COMMITTED INVESTORS NYSE: EVA “our Sponsor” 1)Although we expect to continue to have the opportunity to acquire assets from our Sponsor and the Sponsor's JVs, there can be no assurance that our Sponsor or the Sponsor's JVs will complete their development/improvement projects or that our Sponsor will decide to sell, or compel the Sponsor's JVs to sell, assets or completed development projects to us. Unless extended, the right of first offer under the Purchase Rights Agreement expires in May 2020 28 Enviva Holdings, LPEnviva Partners, LP funding and Sponsor Assets DevelopmentFinance, Construction, and Commissioning Operations Attractive cost of capital with access to capital markets for long-term ROFO1 on joint venture Joint Ventures Separate entities that acquire, finance, develop, construct, and commission projects from Sponsor pipeline The first joint venture, which has invested approximately $360 million to date, is constructing the 600,000 MTPY Hamlet plant Our Sponsor entered into the second joint venture with John Hancock to invest up to $525 million into production plants and deep-water marine terminals. John Hancock and our Sponsor are responsible for funding 75% and 25%, respectively, of the capital into the new joint venture. The second joint venture has acquired the Greenwood plant and is investing incremental capital to increase its production capacity Our Sponsor serves as the managing member and operator of the joint ventures and can compel the joint ventures to sell assets to EVA if certain investment returns are achieved Strong Development Engine & Customer Contract Pipeline John Hancock is the US unit of ManuLife Financial and one of the world’s largest timberland investment managers $11.3 billion and 6.0 million acres of timberlands under management $550 Million Invested to Date $38 billion energy/power private investment firm Principal owner of our Sponsor

BREAKING THE FIBER LOGISTICS BARRIER UNLOCKS NORTH AMERICAN BASIS DIFFERENTIAL $147 $61 Source: All data except data for Brazil are from RISI World Timber Price Quarterly – February 2018 for the fourth quarter of 2017. The wood chip price for Latvia is based on CIF Sweden. Data for Brazil is from Forest2Market - the cost of delivered wood chips in Brazil is approximately US$41-$43 per green metric ton. The primary in-country market for these chips is the food production and crop industries, which use chips for heat and drying purposes. However, the average minimum FOB price in Brazil is around US$148 per dry metric ton due to the logistical and administrative costs related to exporting these chips 30 Wood Chip Price US$ / Dry Ton Latvia $123 $122 Germany Southern US Japan $148 Brazil >$250 Billion Value of annual global trade in wood products Pelletizing fiber breaks logistics barrier and enables worldwide delivery

FINANCIAL RESULTS 1) As of January 1, 2018, the Partnership adopted Financial Accounting Standards Board Accounting Standards Codification 606 (“ASC 606”). For periods before January 1, 2018, AGM per metric ton has been adjusted to reflect the impact of ASC 606 for comparison purposes only Prior to any distributions paid to our general partner Per limited partner unit 2) 3) See slides 42 and 43 for Adjusted EBITDA, Distributable Cash Flow and Adjusted Gross Margin per Metric Ton reconciliations See Note 1 of our financial statements, Business and Basis of Presentation, to our 2017 Annual Report on Form 10-K (the “10-K”) and slide 39 and 40 for basis of presentation 33 Thirteenth consecutive distribution increase since the initial public offering THREE MONTHS ENDED NINE MONTHS ENDED $ MILLIONS, EXCEPT PER METRIC TON AND PER UNIT DATA 30-Sep-18 30-Sep-17 30-Sep-18 30-Sep-17 NET REVENUE $144.1 $132.2 $405.1 $382.2 COST OF GOODS SOLD $114.0 $111.8 $360.2 $329.1 GROSS MARGIN $30.1 $20.4 $44.9 $53.1 AGM PER METRIC TON $55.64 $46.90 $35.02 $44.52 AGM PER METRIC TON, (adjusted for ASC 606) 1 $55.64 $43.33 $35.02 $41.47 NET INCOME (LOSS) $13.4 $5.0 ($2.4) $6.5 ADJUSTED EBITDA $30.2 $25.8 $68.9 $70.4 DISTRIBUTABLE CASH FLOW 2 $20.8 $17.7 $40.6 $45.7 DISTRIBUTION PER UNIT3 $0.635 $0.615 $1.890 $1.740

OUTLOOK & GUIDANCE Reaffirmed full-year 2018 distribution guidance of at least $2.53 per unit 2019 2018 $135 1) Absent any further recoveries associated with the Chesapeake Incident and Hurricanes Florence and Michael (the “Hurricanes”) that would benefit adjusted EBITDA, the Partnership expects full-year 2018 net income to be approximately $11 million and adjusted EBITDA to be approximately $100 million The Partnership has $26.3 million of outstanding claims related to the Chesapeake Incident and the Hurricanes that, if received in 2018, would benefit 2018 adjusted EBITDA, although the total amount the Partnership will receive in respect of these claims, and the timing of payment thereon, are not entirely within the Partnership’s control The Partnership continues to believe that the full-year adjusted EBITDA and distributable cash flow guidance ranges provided in our February 22, 2018 earnings release remain achievable, subject to the amount and timing of recoveries from insurers and other responsible parties associated with the Chesapeake Incident and the Hurricanes The 2019 guidance amounts provided above do not include the impact of any additional acquisitions by the Partnership from the our Sponsor, its joint ventures, or third parties, any benefit of throughput at the Partnership’s deep-water marine terminal in Wilmington, North Carolina from the Hamlet plant, or any recoveries related to the Chesapeake Incident or the Hurricanes 2) 3) 4) 34 Additional details are available as part of our Earnings Release as of November 8, 2018 million $118 – $118 - $122 Adj. EBITDA guid–ance re$m12a2ins achievable3 $100 million Adj. EBITDA, excluding recoveries1 $26.3 million in potential$20 recoveries2 $100 Anticipated annual organic growth $125 $125 - $135 million Adj. EBITDA, excluding acquisitions, drop-downs, or expansions4 7-10%

ENVIVA: A COMPELLING STORY ~15% Market Growth1 Market driven by compelling industry fundamentals 1) 2) 3) Estimated ~15% market growth rate is per Hawkins Wright: The Outlook for Wood Pellets – Demand, Supply, Costs and Prices; Third Quarter 2018 Revenue backlog and weighted-average remaining term of off-take contracts are as of November 1, 2018, excluding volumes under the contracts between long-term off-take customers and our Sponsor and the Sponsor's JVs On November 8, 2018, reaffirmed full-year 2018 distribution guidance of at least $2.53 per unit 37 ~3 Million MTPY World’s largest utility-grade wood pellet producer Advantaged Portfolio of plants and ports Fully Contracted Through 2025 $9.4 billion backlog / 7.4 year weighted-average remaining term2 $2.53 per Unit3 2018 expected aggregate distributions Visible Drop-Down Inventory 3+ million MTPY Sponsor development pipeline

NON-GAAP FINANCIAL MEASURES This presentation contains certain financial measures that are not presented in accordance with GAAP. Although they should not be considered alternatives to the GAAP presentation of the financial results of the Partnership, management views such non-GAAP measures as important to reflect the Partnership’s actual performance during the periods presented. Non-GAAP Financial Measures We use adjusted gross margin per metric ton, adjusted EBITDA, and distributable cash flow to measure our financial performance. Adjusted Gross Margin per Metric Ton We define adjusted gross margin as gross margin excluding asset disposals, depreciation and amortization and changes in unrealized derivative instruments related to hedged items included in gross margin. We believe adjusted gross margin per metric ton is a meaningful measure because it compares our revenue-generating activities to our operating costs for a view of profitability and performance on a per metric ton basis. Adjusted gross margin per metric ton will primarily 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, income tax expense, early retirement of debt obligations, non-cash unit compensation expense, asset impairments and disposals, changes in unrealized derivative instruments related to hedged items included in gross margin and other income and (expense), and certain items of income or loss that we characterize as unrepresentative of our ongoing operations including certain expenses incurred related to the Chesapeake Incident (consisting of emergency response expenses, expenses related to the disposal of inventory, and asset disposal and repair costs, offset by insurance recoveries received). 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, original issue discounts and the impact from incremental borrowings related to the Chesapeake Incident. 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. 39

NON-GAAP FINANCIAL MEASURES - Continued Adjusted gross margin per metric ton, 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 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. 40

NON-GAAP FINANCIAL MEASURES RECONCILIATION The following table provides a reconciliation of distributable cash flow and adjusted EBITDA to net income (loss): See Note 1 of our financial statements, Description of Business and Basis of Presentation, to our 2017 Annual Report on the 10-K and slide 39 and 40 for basis of presentation. 41 RECONCILIATION OF DISTRIBUTABLE CASH FLOW AND ADJUSTED EBITDA TO NET INCOME: YEAR ENDED DECEMBER 31, 2017 (RECAST) 2016 (RECAST) 2015 (RECAST) $ THOUSANDS NET INCOME $14,373 $13,463 $17,563 ADD: DEPRECIATION AND AMORTIZATION $40,361 $27,735 $30,738 INTEREST EXPENSE $31,744 $16,221 $11,712 EARLY RETIREMENT OF DEBT OBLIGATION — $4,438 $4,699 PURCHASE ACCOUNTING ADJUSTMENT TO INVENTORY — — $697 NON-CASH UNIT COMPENSATION EXPENSE $5,014 $4,230 $704 INCOME TAX EXPENSE — — $2,623 ASSET IMPAIRMENTS AND DISPOSALS $5,726 $12,377 $2,081 CHANGES IN THE FAIR VALUE OF DERIVATIVE INSTRUMENTS $1,565 — — TRANSACTION EXPENSES $3,598 $827 $893 ADJUSTED EBITDA $102,381 $79,291 $71,710 LESS: INTEREST EXPENSE NET OF AMORTIZATION OF DEBT ISSUANCE COSTS, DEBT PREMIUM AND ORIGINAL ISSUE DISCOUNT $30,297 $14,329 $10,106 MAINTENANCE CAPITAL EXPENDITURES $4,353 $5,187 $4,359 DISTRIBUTABLE CASH FLOW ATTRIBUTABLE TO ENVIVA PARTNERS, LP $67,731 $59,775 $57,245 LESS: DISTRIBUTABLE CASH FLOW ATTRIBUTABLE TO INCENTIVE DISTRIBUTION RIGHTS $3,398 $1,077 — DISTRIBUTABLE CASH FLOW ATTRIBUTABLE TO ENVIVA PARTNERS, LP LIMITED PARTNERS $64,333 $58,698 $57,245

NON-GAAP FINANCIAL MEASURES RECONCILIATION (CONT.) The following table provides a reconciliation of distributable cash flow and adjusted EBITDA to net income (loss): See Note 1 of our financial statements, Description of Business and Basis of Presentation, to our 2017 Annual Report on the 10-K and slide 39 and 40 for basis of presentation. 42 RECONCILIATION OF DISTRIBUTABLE CASH FLOW AND ADJUSTED EBITDA TO NET INCOME (LOSS): THREE MONTHS ENDED 30-Sep-18 30-Jun-18 31-Mar-18 31-Dec-17 30-Sep-17 (RECAST) 30-Jun-17 (RECAST) 31-Mar-17 (RECAST) $ THOUSANDS NET INCOME (LOSS) $13,356 $3,544 ($19,335) $7,898 $5,023 $1,497 ($45) ADD: DEPRECIATION AND AMORTIZATION $9,801 $10,031 $9,408 $11,246 $9,709 $10,044 $9,362 INTEREST EXPENSE $9,445 $9,047 $8,645 $8,674 $7,653 $7,710 $7,707 NON-CASH UNIT COMPENSATION EXPENSE $1,781 $2,480 $1,343 ($99) $1,833 $1,566 $1,714 ASSET IMPAIRMENTS AND DISPOSALS $656 $244 — $2,484 $1,237 $1,981 $24 CHANGES IN UNREALIZED DERIVATIVE INSTRUMENTS $1,944 ($3,463) $769 $1,565 — — — CHESAPEAKE INCIDENT, NET ($6,787) ($804) $16,590 — — — — TRANSACTION EXPENSES $30 ($7) $153 $171 $344 $551 $2,532 ADJUSTED EBITDA $30,226 $21,072 $17,573 $31,939 $25,799 $23,349 $21,294 LESS: INTEREST EXPENSE NET OF AMORTIZATION OF DEBT ISSUANCE COSTS, DEBT PREMIUM COSTS, ORIGINAL ISSUE DISCOUNT AND IMPACT FROM INCREMENTAL BORROWINGS RELATED TO THE CHESAPEAKE INCIDENT $7,839 $8,772 $8,373 $8,388 $7,261 $7,323 $7,326 MAINTENANCE CAPITAL EXPENDITURES $1,638 $1,226 $388 $1,483 $857 $1,561 $452 DISTRIBUTABLE CASH FLOW ATTRIBUTABLE TO ENVIVA PARTNERS, LP $20,749 $11,074 $8,812 $22,068 $17,681 $14,465 $13,517 LESS: DISTRIBUTABLE CASH FLOW ATTRIBUTABLE TO INCENTIVE DISTRIBUTION RIGHTS $1,532 $1,400 $1,264 $1,129 $1,063 $669 $537 DISTRIBUTABLE CASH FLOW ATTRIBUTABLE TO ENVIVA PARTNERS, LP LIMITED PARTNERS $19,217 $9,674 $7,548 $20,939 $16,618 $13,796 $12,980

NON-GAAP FINANCIAL MEASURES RECONCILIATION (CONT.) The following table provides a reconciliation of gross margin to adjusted gross margin per metric ton: See Note 1 of our financial statements, Description of Business and Basis of Presentation, to our 2017 Annual Report on the 10-K and slide 39 and 40 for basis of presentation. (RECAST) 1)As of January 1, 2018, the Partnership adopted Financial Accounting Standards Board Accounting Standards Codification 606 (“ASC 606”). For periods before January 1, 2018, AGM per metric ton has been adjusted to reflect the impact of ASC 606 for comparison purposes only 43 RECONCILIATION OF GROSS MARGIN TO ADJUSTED GROSS MARGIN PER METRIC TON: THREE MONTHS ENDED TWELVE MONTHS ENDED 30-Sep-18 30-Jun-18 31-Mar-18 31-Dec-17 30-Sep-17 (RECAST) 30-Jun-17 (RECAST) 31-Mar-17 (RECAST) 31-Dec-17 31-Dec-16 (RECAST) 31-Dec-15 $ THOUSANDS, EXCEPT PER METRIC TON $ THOUSANDS, EXCEPT PER METRIC TON METRIC TONS SOLD 762 699 648 805 668 628 623 2,724 2,346 2,374 GROSS MARGIN $30,119 $16,316 ($4,541) $25,721 $20,382 $16,331 $16,368 $78,802 $76,772 $59,540 LOSS ON DISPOSALS OF ASSETS $656 $244 — $1,657 $1,237 $2,005 — $4,899 $2,386 $2,081 DEPRECIATION AND AMORTIZATION $9,678 $9,818 $9,304 $10,800 $9,707 $10,039 $9,358 $39,904 $27,700 $30,692 ADJUSTED GROSS MARGIN $42,397 $26,378 $4,763 $38,178 $31,326 $28,375 $25,726 $123,605 $106,858 $92,313 ADJUSTED GROSS MARGIN PER METRIC TON $55.64 $37.74 $7.35 $47.43 $46.90 $45.18 $41.29 $45.38 $45.55 $38.89 AGM PER METRIC TON, (adjusted for ASC 606 1) $55.64 $37.74 $7.35 $43.88 $43.33 $42.35 $38.57 $42.19 $41.51 $37.13

NON-GAAP FINANCIAL MEASURES RECONCILIATION (CONT.) The following table provides a reconciliation of the estimated range of distributable cash flow and adjusted EBITDA to the estimated range of net income. 1)Absent any further recoveries associated with the Chesapeake Incident and the Hurricanes that would benefit 2018 adjusted EBITDA. Additional details are available as part of our Earnings Release as of November 8, 2018 2)The Partnership continues to believe that the full-year adjusted EBITDA and distributable cash flow guidance ranges provided in our February 22, 2018 earnings release remain achievable, subject to the amount and timing of recoveries from insurers and other responsible parties associated with the Chesapeake Incident and the Hurricanes 44 TWELVE MONTHS ENDING DECEMBER 31, 2018, ASSUMING NO FURTHER RECOVERIES1 TWELVE MONTHS ENDING DECEMBER 31, 2018, AS PROVIDED ON FEBRUARY 22, 20182 ESTIMATED NET INCOME $8.4 - 12.4 $28.5 - $32.5 ADD: DEPRECIATION AND AMORTIZATION $41.1 $42.5 INTEREST EXPENSE $36.5 $34.5 NON-CASH UNIT COMPENSATION EXPENSE $7.3 $7.0 CHESAPEAKE INCIDENT, NET $1.9 - OTHER NON-CASH EXPENSES $2.2 $5.5 ESTIMATED ADJUSTED EBITDA $97.5 - 101.5 $118.0 - 122.0 LESS: INTEREST EXPENSE NET OF AMORTIZATION OF DEBT ISSUANCE COSTS AND ORIGINAL ISSUE DISCOUNTS - $33.5 MAINTENANCE CAPITAL EXPENDITURES - $5.0 ESIMTATED DISTRIBUTABLE CASHFLOW - $79.5 - 83.5

NON-GAAP FINANCIAL MEASURES RECONCILIATION (CONT.) The following table provides a reconciliation of the estimated range of distributable cash flow and adjusted EBITDA to the estimated range of net income. 1)Additional details are available as part of our Earnings Release as of November 8, 2018 45 The guidance amounts provided above do not include the impact of any additional acquisitions by the Partnership from our Sponsor, its joint ventures, or third parties, any benefit of throughput at the Partnership’s deep-water marine terminal in Wilmington, North Carolina from the Hamlet plant, or any recoveries related to the Chesapeake Incident or the Hurricanes1. TWELVE MONTHS ENDING DECEMBER 31, 2019 ESTIMATED NET INCOME $31.3 - 41.3 ADD: DEPRECIATION AND AMORTIZATION $44.5 INTEREST EXPENSE $37.4 NON-CASH UNIT COMPENSATION EXPENSE $9.8 OTHER NON-CASH EXPENSES $2.0 ESTIMATED ADJUSTED EBITDA $125.0 - 135.0

NON-GAAP FINANCIAL MEASURES RECONCILIATION (CONT.) Our Sponsor’s estimates of incremental adjusted EBITDA for the Wilmington terminal, the Hamlet plant, the Greenwood plant and the Lucedale plant are based on numerous assumptions that are subject to significant risks and uncertainties. The assumptions underlying our Sponsor ’s estimates of incremental adjusted EBITDA generated by certain of its assets are inherently uncertain and subject to significant business, economic, financial, regulatory, and competitive risks and uncertainties that could cause actual results and amounts to differ materially from those estimates. For more information about such significant risks and uncertainties, please see the risk factors discussed or referenced in our filings with the Securities and Exchange Commission (the “SEC”), including the Annual Report on Form 10-K and the Quarterly Reports on Form 10-Q most recently filed with the SEC. A reconciliation of Wilmington’s estimated incremental adjusted EBITDA to account for anticipated throughput from the Hamlet plant to the closest GAAP financial measure, and an estimate of incremental adjusted EBITDA for the Hamlet plant, the Greenwood plant, the Lucedale plant, or other potential drop-downs of deep-water marine terminal(s) or wood pellet production plant(s), are not provided because the GAAP net income to be generated by the Wilmington terminal, the Hamlet plant, the Greenwood plant, the Lucedale plant, or other potential drop-downs of deep-water marine terminal(s) or wood pellet production plant(s) is not available without unreasonable effort, in part because the amount of estimated incremental interest expense related to the financing of the additional payment for the Wilmington terminal due upon first deliveries from the Hamlet plant, the Hamlet drop-down, the Greenwood drop-down, the Lucedale drop-down, or other potential drop-downs of deep-water marine terminal(s) or wood pellet production plant(s) is not available at this time. Our estimate of incremental adjusted EBITDA from the planned expansions at Southampton and Northampton production plants (the “Mid-Atlantic Expansions”) is based on numerous assumptions that are subject to significant risks and uncertainties. Those assumptions are inherently uncertain and subject to significant business, economic, financial, regulatory, and competitive risks and uncertainties that could cause actual results and amounts to differ materially from such estimate. A reconciliation of the estimated incremental adjusted EBITDA expected to be generated by the Mid-Atlantic Expansions to the closest GAAP financial measure, net income, is not provided because net income expected to be generated by the expansions is not available without unreasonable effort, in part because the amount of estimated incremental interest expense related to the financing of the expansions and depreciation are not available at this time. 47