Progress Report for Phase 1 and Phase 2 of Nouveau Monde's Bécancour Battery Anode Material Plants

• Nouveau Monde is pleased to report continued progress on its Phase 1 purification plant at Olin Corporation's facility in Bécancour, Québec, the development is on time and within budget
  
• Commencement of the mechanical and electrical commissioning of the purification unit is scheduled for the end of June with the ramp-up scheduled during second half of 2021
• Spherical purified graphite produced in the Company's plant during H2-2021 will be coated at its supplier facility to accelerate its qualification process with battery makers
• Construction of the Company's Phase 1 coating line has commenced and is expected to be commissioned in Q1-2022 facilitating its vertically integrated 2,000 tpa supply of coated spherical purified graphite
• Engineering firm BBA has been awarded the mandate to complete a definitive feasibility study for the 45,000 tpa Phase 2 Bécancour battery anode plant, building on the company's FEL-1 Scoping study
• Ground works have started at the Company's 200,000 m ² plant site at Bécancour, on which the Phase 2 plant will be located, including geotechnical works for construction and environmental baseline studies

Nouveau Monde Graphite Inc. ("Nouveau Monde" or the "Company") ( NYSE: NMG ; TSXV: NOU ; Frankfurt: NM9 ) is pleased to provide an update of its Phase 1 and Phase 2 projects of its battery anode material plants in Bécancour, Québec.

Phase 1 battery anode material plants de-risk the Company's fully-integrated development.
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Aerial view of Nouveau Monde's planned Phase 2 battery anode material plant in Bécancour. Learn more about the Company's strategic location here: https://youtu.be/CGh4ZChdHmc .
https://www.globenewswire.com/NewsRoom/AttachmentNg/315509dd-3909-4786-9bb0-9e4d6bf03948

Phase 1 - Purification Plant at Olin's Bécancour Facility

Following the announcement of the project debut on October 27, 2020 , the Company is pleased to provide a progress update. The construction is advancing on time and on budget and the main construction activities on site are a few weeks away from being completed. The electrical and mechanical commissioning of the plant is scheduled to start before the end of June.

Exterior view of the purification plant at Olin's facility, across the street from Nouveau Monde's phase 2 site.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e673ba72-ab8b-432e-b79e-50d6cbf475ff

The deployment of the Phase 1 purification facility will place Nouveau Monde among very few companies in North America and Europe with the ability to purify natural graphite in significant scale and is yet another achievement to making the Company a leading producer of fully-integrated carbon-neutral lithium-ion battery anode material.

The Company will continue to update the market with progress once commissioning activities commence.

Phase 2 - Bécancour's 45,000 tonne Lithium-Ion Battery Anode Material Plant

In parallel to the deployment of its phase 1 demonstration facilities, Nouveau Monde is developing a large-scale Phase 2 battery anode material plant of 42kT of coated spherical graphite used as active anode material in lithium-ion batteries and 3kT of purified graphite used in hydrogen fuel cells and 5G heat dissipation foils. Following positive results of a FEL-1 Scoping study, the Company is proceeding with the complete feasibility study on the project.

After a ‘request for proposal' process and thorough analysis of the best engineering firms to support the project development, Nouveau Monde is proud to announce that BBA has been awarded the mandate to develop a complete feasibility study on the Bécancour Phase 2 battery anode material plant project. Acting as lead engineering firm on the project, BBA will oversee the development of the process in partnership with the Company's highly skilled technical team. Amongst other responsibilities, BBA and Nouveau Monde will work together at integrating the technical data produced during the operation of its Phase 1 battery anode material demonstration facility, as well as on trials in partnered research centers and at specialized international equipment suppliers. The feasibility study is scheduled to be completed in Q2-2022 at which point the Company will be transitioning to the execution phase of the project.

Moreover, following the strategic acquisition of the Company's 200,000 m ² land parcel in the Bécancour Industrial Park, ground works were initiated to establish the environmental baseline of the site and geotechnical data will be gathered during the summer to complete the work realized in 2020.

Arne H Frandsen, Chairman of Nouveau Monde stated : "We are very pleased to be commencing the commissioning of our Phase 1 plant this month. With COVID-19 still being a limiting factor, I am proud of our team's ability to deliver this important project ‘on budget and on time'! With other battery material providers also selecting Bécancour as their location for beneficiation of battery material, Bécancour is rapidly becoming one of North America's most important battery hubs."

Eric Desaulniers, Founder, President and CEO of Nouveau Monde, added : "We are excited to be working on what is currently the largest and most advanced fully integrated lithium-ion anode material project in North America. With our Phase 1 battery anode material plant expected to be up and running soon, the continued de-risking our project is taking speed. Our phased deployment strategy allows us to offer in the upcoming months significant quantities for qualification purposes to support the continuous negotiations around long-term strategic supply agreements with our potential battery and car maker customers".

About Nouveau Monde

Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully-integrated source of green battery anode material in Québec, Canada. Targeting commercial operations by 2023, the Company is developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, Nouveau Monde 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.

Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, (i) the various commissioning target dates and the ramp-up timetable, (ii) the planned capacity of the Phase 2 battery anode material plant, (iii) the intended results of the deployment of the Phase 1 purification facility, (iv) the timeline for completion of the feasibility study for the Phase 2 battery anode material plant and the commencement of the execution phase of the project, (v) the Company's development plans and deployment strategy, (vi) the intended results of the initiatives described above, and (vii) Nouveau Monde's mission and strategy and the "About Nouveau Monde" paragraph which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain 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 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 information and 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 information and 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 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, technological developments, the impacts of the global COVID-19 pandemic and the governments' responses thereto, and general economic conditions. 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.

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 Company is available in the SEDAR database (www.sedar.com) and on the Company's website at: www.NouveauMonde.group