These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Enviva Management International Holdings, Limited is a private company limited by shares incorporated in England and Wales. The registered office is Maple House, Clifton Park, York, North Yorkshire, YO30 5PB.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, the principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Background

Enviva Management International Holdings, Limited (“EMIH”) is a wholly owned subsidiary of IHE Holdings, LLC (the “Parent”), which is ultimately owned by Enviva, LLC (formerly Enviva Inc.) (the "Ultimate Parent"). On the 12 March 2024, Enviva, LLC (formerly Enviva Inc.) filed a voluntary Chapter 11 bankruptcy petition and was ultimately delisted from the New York Stock Exchange on the 11 October 2024 after failing to meet the conditions of listing. In connection with the preparation of Subsidiaries’ financial statements for the year ended 31 December 2024, Management prepared this analysis to address the Subsidiaries’ ability to continue as a going concern.

Financial Position and Liquidity

• As of 31 December 2024, EMIH have net liabilities of £40,176.

• EMIH is dependent on the financial support of the Ultimate Parent to meet their obligations as they fall due.

Mitigating Factors

• The Ultimate Parent has provided a letter of support confirming its commitment to fund EMIH as required for at least 12 months from the date of approval and release of the financial statements.

• The Ultimate Parent entity successfully emerged from the bankruptcy on 6 December 2024, with sufficient financial resources to support the operation of EMIH. This is evidenced by the Ultimate Parent’s available cash of approximately $143 million as of the emergence date and a $200 million borrowing capacity from a Revolving Credit Facility as of February 2025.

• Historically, the Ultimate Parent has consistently provided the necessary financial support to EMIH. There are no indications of adverse changes in the Ultimate Parent’s ability or intent to provide ongoing support.

Conclusion

Based on the assessment performed and the Ultimate Parent’s commitment to provide financial support, the directors conclude that it is appropriate to prepare the financial statements of EMIH on a going concern basis.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The directors consider the investments to be recoverable in full.

The average monthly number of persons (including directors) employed by the company during the year was:

The amounts owed to group undertakings are repayable on demand, unsecured and interest free.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

The company has taken advantage of the exemption permitted by section 33 'Related Party Disclosures' of Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland' from the requirement to disclose transactions between wholly owned group companies.

The immediate parent company is IHE Holdings, LLC in the United States of America.

Enviva, LLC (formerly Enviva Inc.), a company incorporated in the United States of America, is the ultimate parent company of Enviva Management International Holdings, Limited and is the smallest and largest group for which consolidated accounts including Enviva Management International Holdings, Limited are prepared. The ultimate parent company's office address is 7500 Old Georgetown Road, Suite 1400, Bethesda, MD 20814.

Following the delisting described in note 1.2, Enviva Inc. became Enviva, LLC.

In the opinion of the directors there is no single ultimate controlling party.