Mr. Eric Desaulniers reports

NMG AND PANASONIC ENERGY ANNOUNCE PROGRESS UPDATE ON TECHNOLOGICAL AND COMMERCIAL COLLABORATION AS CANADA AND JAPAN REINFORCE TRADE RELATIONSHIP FOR A LOW-CARBON ECONOMY

Nouveau Monde Graphite Inc. and Panasonic Energy Co. Ltd., a wholly owned subsidiary of Panasonic Holdings Corp., are diligently progressing through their technological engagement and commercial discussions toward a definitive offtake agreement on the foundation of their framework agreement targeting Nouveau Monde's fully integrated ore-to-anode-material production.

As previously disclosed, Panasonic Energy is considering the purchase of Nouveau Monde's commercial production out of its phase 2 Becancour battery material plant. The contemplated commercial agreement echoes Panasonic Energy's commitment to reduce its carbon footprint by 2031. It also reiterates Nouveau Monde's attractive and responsible business model set to supply the North American battery market with a high-quality, local and sustainable source of active anode material.

Thanks to active technical engagement between the parties, samples produced at Nouveau Monde's phase 1 facilities are now being tested within Panasonic Energy's battery prototype production line, enabling the diligent progress of the qualification process. Supporting this work and underlying commercial discussions, Nouveau Monde and Panasonic Energy actively co-operate to strengthen technological development and process optimization for Nouveau Monde's active anode material production in line with Panasonic Energy's specifications and quality standards.

Kazuo Tadanobu, president and chief executive officer of Panasonic Energy, stated: "Today, the Japanese and Canadian governments signed a memorandum of co-operation (MOC) to deepen their bilateral partnership. I welcome the leadership demonstrated by the two governments to establish a sustainable and reliable battery supply chain. Panasonic Energy will help strengthen bilateral co-operation in the private sector, including through the partnership with NMG, to contribute to the industrial development of the two countries."

Arne H. Frandsen, chair of Nouveau Monde, declared: "Engagement over the past months has been intensive; we are delighted to now see our active anode material being tested in the Panasonic Energy's prototype line in Japan in advance with mass production line in North America. With Panasonic Energy as a technical partner, NMG is benefiting from a depth of battery expertise to further elevate technology as the company gears up to enter its phase 2 commercial development. The continuous collaboration between NMG and Panasonic Energy, both on technological and commercial parameters, testifies to our joint efforts to fast-track the deployment of NMG's full-scale production."

The reinforced relationship echoes the government of Canada and government of Japan's partnership to strengthen trade and co-operation for the development of a sustainable, competitive clean energy economy as announced today. Nouveau Monde's integrated business plan aligns with these active efforts to enhance the resilience of critical mineral global supply chains, localize advanced manufacturing for the North American market, improve adherence to environmental, social and governance (ESG) standards and foster new investment opportunities.

Francois-Philippe Champagne, Minister of Innovation, Science and Industry, stated: "Canada and Japan are committed to advancing our shared ambitions to develop sustainable and reliable global battery supply chains. The advancement of commercial discussions between Panasonic and Nouveau Monde Graphite is another step towards a stronger domestic critical minerals ecosystem. I'm proud to see that Quebec and our companies continue to attract the world's leading players to our innovative ecosystems for the benefit of our environment and our economy while creating well-paying jobs for years to come."

Eric Desaulniers, founder, president and chief executive officer of Nouveau Monde, added: "Conditions for success are aligning as we refine performance and efficiency of our production, define long-term sales mechanisms to capture market growth, tap into trade partnerships, and optimize our financial structure for project financing. Intergovernmental co-operation paired with industrial collaboration as we see form the bedrock of tomorrow's clean energy economy; NMG is part of this generational transition toward a low-carbon future."

Nouveau Monde is actively working to set strong commercial foundations through sales and investment agreements, plus engaging with international lenders and governmental branches as they assess the opportunity of supporting the company's phase 2 development.

About Nouveau Monde Graphite Inc.

Nouveau Monde Graphite 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 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.