Ms. Julie Paquet reports

NMG PAYS ACCRUED INTERESTS AND GRANTS OPTIONS

Nouveau Monde Graphite Inc. has paid accrued interests as part of a previously announced private placement announced by press release dated Nov. 8, 2022.

Settlement of accrued interests

Upon the approval of the TSX Venture Exchange and the New York Stock Exchange, the accrued interests owed to Investissement Quebec (the holder) for the first quarter of 2024 under the unsecured convertible note, as amended and restated, issued in connection with 2022 private placement, will be deemed paid.

A total of 141,786 common shares at a price of $2.30 (U.S.) representing an aggregate amount of $326,108 (U.S.) will be issued and share certificates will be delivered to the holder at the maturity, conversion or redemption of the note in payment of the accrued interests due on March 31, 2024, for the first quarter of the year. The issuance of common shares is subject to the approval of the exchanges and, when issued, will be subject to a hold period of four months and one day.

In connection with Nouveau Monde's private placements announcement on Feb. 15, 2024, interest under the unsecured convertible notes issued by the company to Mitsui & Co. Ltd. and Pallinghurst Bond Ltd., respectively, has ceased to accrue as of Feb. 14, 2024.

Grant of options

Nouveau Monde also announces the grant of 2,562,500 stock options to directors, officers and employees in accordance with the terms of the stock option plan of the company, 66 per cent of which will be vesting at the achievement of certain milestones in relation to a successful final investment decision. Each option entitles the holder thereof to purchase one common share of the company at a price of $3.12 per common share for a period expiring on April 1, 2029.

About Nouveau Monde Graphite Inc.

Nouveau Monde Graphite is an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power electric vehicles and renewable energy storage systems. The company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Quebec, Canada. With enviable ESG (environmental, social, governance) standards and structuring partnerships with anchor customers, Nouveau Monde is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability.

We seek Safe Harbor.