Mr. Eric Desaulniers reports

NMG SELECTS POMERLEAU FOR CONSTRUCTION MANAGEMENT PREPARATION OF ITS PHASE-2 FACILITIES: FOCUS ON EFFICIENT, COST-OPTIMIZED, AND SAFE EXECUTION ONCE FID IS REACHED

Nouveau Monde Graphite Inc. has appointed Pomerleau as construction manager for the preconstruction stage for the construction of its phase 2 commercial facilities: the Matawinie mine and the Becancour battery material plant. With sustained engagement from Tier 1 battery manufacturers to sign offtake agreements, and confirmed interest from lenders and strategic investors to participate in Nouveau Monde Graphite's project financing, the company is accelerating efforts to refine its execution plan for cost optimization, procurement and construction at each site ahead of the final investment decision (FID).

Arne H. Frandsen, chair of Nouveau Monde Graphite, declared: "Our strong owner's team in engineering and project management, now paired with experienced construction firm Pomerleau, provides depth and technical expertise for refining our execution strategy. Amidst challenging economic conditions, we are seeking strategies to mitigate the expenses and uncertainties associated with complex construction projects to execute our projects responsibly while delivering on our commitment to our customers, community and shareholders."

Eric Desaulniers, founder, president and chief executive officer of Nouveau Monde Graphite, said: "As battery production capacity continues to expand in Quebec, North America and Europe, our commercial engagement is shifting from product qualification to execution and operation readiness, to optimize our time-to-market window. Potential customers have tested our carbon-neutral active anode material produced at our phase 1 facilities, and are eager to access sizable volumes to support their manufacturing and growth. Contemplated anchor customers, lenders and investors alike are seeking reassurance on our timeline and flawless execution, with safety, environment and quality as top priorities. We have found in Pomerleau a construction partner that shares our values and is keen to help us bring our vision to reality."

Pomerleau is a prominent Canadian construction company specialized in the building, infrastructure and civil, and construction sectors. With a rich history spanning nearly six decades, Pomerleau boasts a work force of over 4,000 dedicated employees and operates across more than 200 job sites across Canada, with a strong focus on safety, innovation and sustainability.

Projects construction overview

Leveraging process development, continuous sample production at phase 1 facilities, environmental monitoring and management, and extensive site and project studies, Nouveau Monde has made steady progress over the years toward construction and financing of its phase 2 Matawinie mine and Becancour battery material plant.

The Matawinie mine has already obtained governmental approval -- the main permit for the mining operation -- following an exhaustive environmental review and public consultation. Since securing this approval, Nouveau Monde Graphite has carried out preparatory work to build the nearly eight-kilometre access road, construct key environmental infrastructure and execute early civil works. Detailed engineering for the industrial, mining and environmental facilities is also well advanced thanks to continued work with specialized firms AtkinsRealis, SRK Consulting, and key contractors and equipment vendors. The site is now ready for major civil works, including excavation, underground utilities and concrete foundations, once FID is reached.

Pomerleau's mandate covers the preconstruction management of the industrial facilities, namely the concentrator, crusher and associated infrastructure. Pomerleau is working closely with Nouveau Monde Graphite's project team to prepare a detailed construction sequence and schedule, to develop the contracting strategy, to optimize worksite logistics, to expand the health and safety, environment and quality programs, and to integrate planning and engineering into building information modelling (BIM), an advanced technology solution supporting enhanced project construction management for improved planning, tracking, project efficiency, productivity and cost control.

At the Becancour battery material plant, the preconstruction mandate will build on the environmental studies completed thus far and active engineering work with BBA Inc. Pomerleau's mandate includes construction scheduling, work force planning, job site logistics, revision of the procurement strategy, and the development of health and safety, environment and quality programs.

Pomerleau is also contributing to the budget revision, cost optimization and project control activities for both projects. Nouveau Monde Graphite aims to refine capex (capital expenditure) estimates in light of advanced engineering and contemplated offtake agreements, and to reduce its exposure to market volatility and supply chain pressures. Considering that Nouveau Monde Graphite's integrated feasibility study for its phase 2 operations was issued in July, 2022, at the peak of inflation trends, the company anticipates optimization of construction forecasts in light of stabilizing material costs, technological enhancement to align with customers' specifications, synergies between the two sites' pro-active procurement strategy, plus Pomerleau's current construction mandates in the Becancour industrial work.

Having retained Pomerleau for both projects provides saving opportunities and a harmonized project execution across sites thanks to core team, programs and approach, enhancing the integration of engineering, procurement and construction management. Nouveau Monde Graphite will also benefit from Pomerleau's established pool of workers and specialty subcontractors in preparation for the execution stage.

Nouveau Monde Graphite's robust environmental, social and governance (ESG) values, aligned with Pomerleau's own, will be carried over in the construction phase and will be reflected in the procurement strategy. Nouveau Monde Graphite is committed to upholding the highest standards of business ethics and human rights, to promoting best practices in occupational health and safety, and environmental protection, to using pro-active and innovative design, technology and management to minimize the impact of its activities, and to working in collaboration with communities and first nations to maximize local benefits.

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.