Enviva Inc. announced that it has priced $250,000,000 of bonds in the U.S. tax-exempt market (the “Bonds” or the “Tax-Exempt Green Bonds” and such offering, the “Offering”) through the Industrial Development Authority of Sumter County, Alabama (the “Issuer”). The Tax-Exempt Green Bonds, which will be issued at par, will bear interest at an annual rate of 6.00% and mature in 2052, with the option for holders to redeem at par in 2032. Enviva and the Issuer expect to close the transaction on or about July 15, 2022, subject to customary closing conditions.

Enviva estimates that the net proceeds of this Offering will be $246,000,000, after deducting the underwriters' discount and other transaction-related costs. The proceeds of the Offering will be loaned to Enviva pursuant to a Loan and Guaranty Agreement to fund all or a portion of the costs of the acquisition, construction, equipping, and financing of Enviva's fully contracted wood pellet production plant to be located in Epes, Alabama, and to pay costs and expenses of the Offering.