Ms. Julie Paquet reports

NMG ANNOUNCES THE SUCCESSFUL CLOSING OF THE PREVIOUSLY ANNOUNCED ACQUISITION OF MASON RESOURCES' LAC GUERET GRAPHITE DEPOSIT/UATNAN MINING PROJECT - ONE OF THE WORLD'S LARGEST GRAPHITE PROJECTS IN DEVELOPMENT

Nouveau Monde Graphite Inc. has closed the previously announced acquisition of the entire Lac Gueret property, targeted for the development of the Uatnan mining project, contemplated under an asset purchase agreement with Mason Resources Inc. dated Jan. 21, 2024.

Nouveau Monde acquired 100 per cent of Mason's Lac Gueret property, which consists, among other things, of 74 map-designated claims totalling 3,999.52 hectares. The consideration for the acquisition of the Lac Gueret property was paid with 6,208,210 common shares of Nouveau Monde, representing 9.25 per cent of the pro forma issued and outstanding shares of Nouveau Monde. A subsequent payment of $5-million will be made to Mason at the start of commercial production of the contemplated Uatnan mining project.

The asset purchase agreement supersedes and terminates the previously announced investment agreement and option and joint venture agreement between Nouveau Monde and Mason.

For further information regarding the transaction contemplated in this press release, please refer to Nouveau Monde's press release dated Jan. 22, 2024, available under Nouveau Monde's profile on SEDAR+ and on EDGAR, and on Nouveau Monde's website.

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 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.