Mr. Arne Frandsen reports

NMG IS GEARING UP FOR ITS PHASE 2 COMMERCIAL OPERATIONS IN BECANCOUR - INNOVATIVE WORKFORCE TRAINING PROGRAM ESTABLISHED AND RELATIONSHIPS FORGED WITH CONTRACTORS AND SUPPLIERS

Nouveau Monde Graphite Inc. is ramping up its efforts in Becancour, Que., to implement its phase 2 Becancour battery material plant. To meet its expected needs for a skilled workforce, construction contractors, and product and service suppliers, NMG is actively engaged in regional development initiatives in the areas of training and procurement. The Company is also continuing its engineering, permitting, and pre-construction work towards the final investment decision ("FID"). These activities are underpinned by offtake agreements and strategic investments with Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") (TYO: 6752) and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") (NYSE:GM).

Arne H. Frandsen, NMG's Chair of NMG, declared: "Beyond its industrial infrastructure and the synergy from the battery industry, Becancour is a region full of talent, dedication and expertise. With our Phase-1 plant operations up and running, our Phase-2 execution plan is taking shape with the commitment of our anchor customers and investors, Panasonic and GM. This is the ideal time to align all key ingredients-qualified employees and performing business partners-to make the launch of our commercial operations a success."

Training the local workforce

NMG is working closely with education and industrial partners in the region, to support the implementation of an innovative, customised training program to equip the local workforce with qualifications and training for green tech jobs, integral for both the development of NMG and the fast-faced establishment of a regional battery hub. The first cohort of the Attestation of Collegial Studies ("ACS") program in green tech industrial processes began at the Cegep de Trois-Rivieres at the end of January. The alternating work-study program is paid, and lasts 15 months. The program allows students to apply what they have learned at an actual plant, become accustomed to working in an industrial environment, and build relationships with their future colleagues. NMG is supporting five students within this first cohort who will work at its Phase-1 plants throughout their training period and who are on track to become permanent employees upon their graduation.

Kateri Champagne Jourdain, Minister of Employment and Minister Responsible for the Cote-Nord Region, commented: "The training offered by the Cegep de Trois-Rivieres will certainly meet the needs of businesses. The Mauricie and Centre-du-Quebec regions will be key players in the energy transition with the battery industry, and this announcement enables us to invest in jobs of the future today."

This mutually beneficial and collaborative approach to developing training services echoes the formula that NMG developed with stakeholders in Saint-Michel-des-Saints to create a diploma of vocational studies ("DVS") in production equipment operation. Launched in 2021, this DVS supports NMG's training and recruitment efforts for the Phase-1 operations at the Matawinie Mine. Preparations are currently underway for a ninth cohort of this program, a significant mark of its historical success and impact.

Connecting with local contractors and suppliers

NMG is taking advantage of the broad reach of the battery industry in the Becancour industrial park to position itself in the business community ahead of the FID. The Centre-du-Quebec and Mauricie regions boast a large pool of specialized contractors in construction and industrial services along with a variety of suppliers that provide a range of products and services.

Furthering its 2023 efforts to build relationships with the regional business community, NMG took part in the Rendez-vous economique held by the Ville de Becancour and Investissement Quebec on January 30 to connect with entrepreneurs and suppliers in the region. At the event, NMG representatives presented the project for the Phase-2 Becancour Battery Materials Plant as well as its ESG requirements and procurement process. NMG has met with over 300 companies in recent months to promote business opportunities and determine regional capabilities.

Work is already well underway in the Becancour industrial park for the GM-Posco, Nemaska Lithium and Ford plants. The planned construction of NMG's Becancour Battery Materials Plant should fit in with the current mobilization, allowing the sequence of work to be staggered by specialty, across the jobsites, to reduce pressure on trades, ease construction management logistics, and maximize synergies between major projects.

Eric Desaulniers, Founder, President and CEO of NMG, said: "The priority for our Phase-2 execution plan is to responsibly develop our commercial facilities in partnership with the community. So many workers, contractors and suppliers have responded to our invitation to take part in this project that is shaping the future of the Becancour region and Quebec's economy. We are excited to start working together!"

Along with field-based activities to promote NMG's training program and its procurement strategy, the Company's project team is also working closely to advance the engineering, pre-construction, and permit applications for the FID. The Becancour Battery Materials Plant is expected to supply the North American market with approximately 43,000 tonnes of active anode material per year. NMG's 200,000-m Superscript 2 site in the heart of Quebec's battery industry will enjoy robust industrial infrastructure, access to clean and affordable hydroelectricity, a direct supply of chemicals, and a multimodal logistics base.

About Nouveau Monde Graphite

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 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 by providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com

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