Mr. Eric Desaulniers reports

NMG PROVIDES COMMERCIAL UPDATE AND DISCLOSES ANNUAL GENERAL & SPECIAL MEETING VOTING RESULTS

Nouveau Monde Graphite Inc. held today its virtual annual general and special meeting of shareholders. The meeting was complemented with a corporate presentation by Nouveau Monde's management team, providing shareholders with an update on the company's key projects, commercial engagement and growth plan.

Eric Desaulniers, founder, president and chief executive officer of Nouveau Monde, said:

"Thanks to our fully integrated phase 1 operations and 110-plus employees committed to our development, we have made headways over the past months to optimize our advanced manufacturing technologies, engage with Tier 1 customers, and secure key commitments to finance and commercialize our phase 2 projects. The current North American market landscape is now crystalizing around major battery producers that are expanding their local production plans in partnership with electric vehicle manufacturers and strengthened by governmental incentives on each side of the border."

Propelled by the United States' 2022 Inflation Reduction Act, the North American battery sector now leads the western gigafactory race with over 1,256 gigawatt-hours (GWh) of battery production capacity in the pipeline by 2030 (Benchmarck Mineral Intelligence, June, 2023). This localization push provides a solid backdrop for Nouveau Monde's commercialization effort as manufacturers seek alternatives to Chinese supplies.

The company is actively working with Panasonic Energy Co. Ltd. on the back of its agreement to develop a definitive multiyear offtake agreement for Nouveau Monde's active anode material, supported by the optimization of technical production parameters and commercial discussions on a pricing mechanism. Nouveau Monde believes that its fully integrated production model, from ore to battery material, provides significant advantages in terms of environmental footprint, traceability, simplified logistics and reliability.

The company is also engaged with a number of Tier 1 customers with a view to sign complementary offtake agreements. These commercial discussions are supported by the production of battery-quality samples at Nouveau Monde's facilities, site visits, quality controls and environmental due diligence.

A recording of management's presentation is available for viewing on YouTube.

Matters voted upon at the meeting and results

Each of the eight nominees listed in the company's management information circular dated May 10, 2023, provided in connection with the meeting was elected as a director of the company. Seven the nominees were reappointed.

Shareholders also adopted all other resolutions submitted for their approval, including the appointment of PricewaterhouseCoopers LLP as the auditor of the company to hold office until the close of the next annual meeting of the company and the authority given to directors to set its compensation, and the ratification and confirmation of the stock option plan of the company.

The complete voting results for each item of business are provided in the attached tables.

Details of the voting results on all matters considered at the meeting are available in the company's report of voting results, which is available under Nouveau Monde's profile on SEDAR and on EDGAR.

About Nouveau Monde Graphite Inc.

Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The company is working toward developing a fully integrated source of carbon-neutral battery anode material in Quebec, Canada, for the growing lithium-ion and fuel cell markets. With enviable ESG (environmental, social and governance) 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.

We seek Safe Harbor.