NMG Pays Accrued Interests

Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) announces today the payment of accrued interests as part of a previously announced private placement.

Settlement of accrued interests

Upon the approval of the TSX Venture Exchange and the New York Stock Exchange (the "Exchanges"), the accrued interests owed to Investissement Québec, Pallinghurst Bond Limited and Mitsui & Co., Ltd. (the "Holders") for the first quarter of 2023 under the unsecured convertible notes (the "Notes") issued in connection with the private placement announced by press release dated November 8, 2022 will be deemed paid.

234,039 common shares at a price of US$5.11 (each, a "Common Share") representing an aggregate amount of US$1,195,938 will be issued and share certificates will be delivered to the Holders at the maturity or conversion of the Notes in payment of the accrued interests due on March 31, 2023 for the first quarter of the year. The issuance of Common Shares is subject to the approval of the Exchanges and, when issued, will be subject to a hold period of four (4) months and one day.

Amended and Restated Notes

In addition, NMG will, subject to the approval of the Exchanges, amend and restate the Notes by (i) removing the interest capitalization provisions, such that accrued interest will be deemed paid in full at each quarter following the Exchanges approval, (ii) increasing the interest rate to the greater of (a) 7% and (b) the 3-month Term SOFR plus 5% and (iii) permitting NMG to deliver share certificates to the Holders upon maturity, conversion or redemption, as the case may be, of the Notes.

About Nouveau Monde Graphite

NMG is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With enviable ESG standards, NMG aspires to become a strategic supplier to the world's leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com

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Cautionary Note Regarding Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the potential conversion of the Notes, the issuance of the Common Shares and those statements which are discussed under the "About Nouveau Monde Graphite" paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments' responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 23, 2023, including in the section thereof captioned "Risk Factors", which is available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov . Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

The market and industry data contained in this press release is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly available sources. Although the Company believes these sources to be generally reliable, market and industry data is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties inherent in any survey. The Company has not independently verified any of the data from third-party sources referred to in this press release and accordingly, the accuracy and completeness of such data is not guaranteed.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information regarding the Company is available in the SEDAR database ( www.sedar.com ), and for United States readers on EDGAR ( www.sec.gov ), and on the Company's website at: www.NMG.com

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act.

MEDIA
Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
jpaquet@nmg.com

INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905 #993
mjasmin@nmg.com

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The Conversation (0)

NMG Provides Commercial and Operational Update upon Filing 2023 Financial Reports: Significant Progress over the Year in Advancing North America's Mine-to-Battery-Material Graphite Production

  • Multiyear offtakes and strategic investments from Panasonic Energy and GM covering approximately 85% of NMG's planned Phase-2 fully integrated production of active anode material.
  • Aggregate combined investment of US$50 million by Panasonic and GM, with a private placement of US$37.5M by Mitsui & Co., Ltd ("Mitsui") and Pallinghurst Bond Limited ("Pallinghurst") to surrender and cancel their convertibles notes dated November 8, 2022, upon the vote of the shareholders of NMG in accordance with MI-61-101 and regulatory approvals.
  • Demonstration of strong long-term bankability underpinnings to support NMG's Phase-2 project financing via offtake agreements and intended future investments by the Anchor Customers or their affiliates of up to US$275 million.
  • Acquisition of the Lac Guéret property, one of the largest graphite deposit set to underpin NMG's planned Phase-3 expansion, for the development of the Uatnan Mining Project.
  • Launch of an innovative training program in green technology industrial processes in partnership with the region's education and industrial partners to secure a local and qualified workforce for the Phase-2 Bécancour Battery Material Plant.
  • Active stakeholder engagement including meetings held with over 300 regional companies in recent months to identify local capacity and plan the Company's procurement strategy for the Phase-2 Bécancour Battery Material Plant.
  • Appointment of Pomerleau as Construction Manager for the pre-construction stage of Phase-2 commercial facilities and continued engineering for the Matawinie Mine and Bécancour Battery Material Plant towards the final investment decision ("FID").
  • Recognition of robust ESG credentials: NMG tops Benchmark Mineral Intelligence's Sustainability Index as the only natural graphite producer in the "Industry Leading" category ahead of all Western, African, and Chinese producers.
  • Continued active engagement with additional potential tier-1 customers in the EV and battery sector with the production of battery-grade samples, site visits, quality checks, commercial discussions, and environmental diligence reviews.
  • Advanced discussions with multiple governmental agencies and programs, strategic investors, and lenders to optimize the targeted capital structure for the Phase-2 project financing.
  • North America expected to surpass Asia in the anode market outside China thanks to increased production capacity and structural sourcing partnerships such as NMG's with Panasonic Energy and GM (Benchmark Mineral Intelligence, February 2024).
  • EV sales reported to have crossed the adoption tipping point in 23 countries in 2023 with 13.6 million EVs sold globally – a 31% increase – and projected growth of between 20% and 30% for 2024 according to market analysts (Rho Motion and Bloomberg, January 2024).
  • Continued focus on the safe and responsible conduct of operational and construction activities, no major environmental incidents, and carbon-neutral year-end balance through verified offsetting via 660 certified carbon credits.
  • Period-end cash position of $36.3 million.

Through its year-end financial reports and 2023 Annual Report , Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE:   NMG , TSXV:   NOU ) publishes a positive progress report in advancing what is projected to be North America's first integrated source of natural graphite active anode material for electric vehicles ("EV") and batteries. Strategically executing its phased development plan, NMG has continued operating its Phase-1 facilities to produce battery-grade samples and optimize its processes, has signed commercial agreements and strategic investments with Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") ( TYO:   6752 ) and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE:   GM ), to underpin its Phase-2 commercial production, and has acquired the Uatnan Mining Project to support its Phase-3 expansion.

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