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Second Party Opinion: Enviva's Green Finance Framework

In S&P Globa Ratings' view, Enviva’s Green Finance Framework is aligned with the Green Bond Principles (GBP) and Green Loan Principles (GLP). Enviva's Green Finance Framework commits to fund projects to expand renewable energy generation, specifically biomass-based generation, biofuel production for transportation, and industrial products. In addition, Enviva outlines a process by which the ESG committee will evaluate and select the eligible projects, which all will undertake Enviva's environmental and social policies. Regarding the management of proceeds, the ESG committee will also be responsible for the tracking, monitoring, and allocation of the proceeds from financings under Enviva's Green Finance Framework.