» Agreement setting out the significant participation of the Manawan Atikamekw to responsibly develop graphite in the Nitaskinan in a way that respects the environment and provides direct benefits to the community.

» Enhanced collaboration on aspects related to Atikamekw culture, the environment, training, employment, business opportunities, and financial benefits.

» Agreement signed following a community consultation process.

» Commitment to a long-term, mutually beneficial relationship of trust based on respect, inclusion, sustainability and responsibility.

The Conseil des Atikamekw de Manawan, representing the Atikamekw Nehirowisiw First Nation of Manawan (the “Manawan Atikamekw”), and Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE:NMG, TSXV: NOU) are proud to announce that they have signed an impact benefit agreement covering the Matawinie mining project, which is located on the Nitaskinan. With this agreement, the Manawan Atikamekw give their consent to the Matawinie mining project, which aims to responsibly valorize graphite by NMG, in a way that respects the environment and provides direct benefits to the First Nation.

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Chief Sipi Flamand and President and CEO Eric Desaulniers mark the signing of the agreement in Manawan. (Photo: Business Wire)

Sipi Flamand, Chief of the Manawan Atikamekw, stated: "This agreement is aligned with our desire to generate value from our Nitaskinan while creating concrete opportunities for our community and our members. It reflects an appropriate balance between a recognition of our values and our culture, respect for our environment, and improved quality of life for the Manawan population. Together with our partner Nouveau Monde Graphite, we are shaping the direction of a long-term collaboration that is in keeping with our values.”

Eric Desaulniers, Founder, President and CEO of NMG, stated: “Mikwetc e tapweritamekw anihe ka ki masinahotisowiekw, ni nakasinan tapickotc kitci otamirotaikw otci ‘Matawinie Mine,’ kitci mackowarik opimatisiwiniwaw ke pe ocki nitawikitcik. I would like to thank the Manawan community and their leaders for their trust, which is reflected in this agreement. This is a significant milestone, and Team Nouveau Monde is eager to develop the Matawinie Mine together with the community to create a sustainable future for generations to come. This partnership also promises positive benefits for both Manawan and our project in terms of environmental management, labor, and business partnerships.”

Glenn Dubé, councillor at the Atikamekw Council of Manawan, said: "It is a pleasure to announce the signing of this agreement. Having steered this file during my two mandates, I am proud of the progress made and the sincere collaboration that marked this process. I look forward to what lies ahead with renewed optimism, convinced that we will continue to move forward together along this path of mutual respect and trust.”

On the basis of the two agreements already signed between the Manawan Atikamekw and NMG, the impact benefit agreement went through an exhaustive negotiation and consultation process to ensure that the interests and concerns of the First Nation were taken into account. The agreement includes provisions for the Manawan Atikamekw to take part in the project’s environmental management and monitoring, the implementation of adapted and preferential training and employability measures, the promotion of business opportunities during the mine’s construction and operations, as well as the recognition of Atikamekw culture and the inclusion of cultural safety measures. The agreement also sets out the sharing of financial benefits from NMG’s graphite development operations.

The Manawan Atikamekw and NMG will soon launch a joint working committee to ensure the agreement is implemented in an effective and cooperative manner.

About the Manawan Atikamekw

The Manawan Atikamekw have lived on, occupied and protected their Nitaskinan since time immemorial. They have ancestral rights, including ancestral title, to the Manawan Nitaskinan and have always managed and protected their Nitaskinan according to their customs, practices and traditions. The community of Manawan is located approximately 72 km north of Saint-Michel-des-Saints in Matawinie, in Québec’s Lanaudière region. The Manawan Atikamekw community is represented by the Conseil des Atikamekw de Manawan (CDAM). The CDAM defends the rights of the Manawan Atikamekw and coordinates with the Manawan territory chiefs to advance the territorial interests of Atikamekw families as per traditional Atikamekw customs.

About Nouveau Monde Graphite

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 EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With enviable ESG standards and structuring partnerships with anchor customers, NMG 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. www.NMG.com

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Cautionary Note

Certain statements contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation (collectively, “forward-looking statements”), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management’s expectations and assumptions regarding the Company’s growth, results, performance, and business prospects and opportunities. Such statements reflect management’s current beliefs and are based on information currently available to it. Such forward-looking statements include but are not limited to statements regarding the repercussions, benefits and spin-offs of the partnership between the Manawan Atikamekw and NMG, including those related to the environmental management plan, labour and business partnerships, the effective implementation of a joint working committee to oversee the application of the agreement, the projections about future operations, the future engagement and potential economic benefits for the region, and the capacity of NMG to establish a fully integrated supply chain for active anode material from graphite in Québec, to become a strategic supplier for the world’s main manufacturers of lithium-ion batteries for electric vehicles, and to provide high-performance and reliable advanced materials while ensuring the sustainability and traceability of the supply chain, as well as the intended results of the initiatives described in this press release and those statements which are discussed under the “About the Manawan Atikamekw” and “About Nouveau Monde Graphite” paragraphs and elsewhere in the press release which describe the Company’s outlook and objectives and the agreement with the Manawan Atikamekw.

Forward-looking statements are based on reasonable assumptions that have been made by the Company as at the date of such statements and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by these forward-looking statements, including but not limited to general economic and commercial conditions, the actual results of current development, engineering and planning activities, access to capital and future prices of graphite, the inherent risks of mining development activities, the speculative nature of mining development, changes in mineral production output, the uncertainty of processing the Company’s technology on a commercial basis, development and production timeframes, competition and market-related risks, price pressure, other risks related to the mining industry, and engineering analyses and other requirements to fully evaluate their impact, the fact that some initiatives described in this press release are still in the preliminary phase and may not materialize, business continuity and crisis management, political instability, and international conflicts. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 27, 2024, including in the section thereof captioned “Risk Factors,” which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this press release in the case of new information, future events, or for any other reasons, except to the extent required by applicable law.

The market and industry data contained in this press release is based upon information from third parties and from independent industry reports, publications, web sites, and other publicly available sources of information as well as data on the industry and other data prepared by or for the Company based on its knowledge of the markets in which it operates, including but not limited to information obtained from suppliers, partners, clients and other industry stakeholders. The Company believes that the data on markets and economic data cited in this press release to be accurate as of the date of publication of this press release and, in relation to the data prepared by or for the Company, that these estimates and assumptions are currently appropriate and reasonable but that the accuracy and completeness of such data are not guaranteed. The accuracy and completeness of the market and economic data presented in this press release are not guaranteed and the Company does not make any representation as to the accuracy of such data and does not undertake to update or revise this data. Actual outcomes may vary materially from those forecasted in such reports or publications, and the prospect for material variation can be expected to increase as the length of the forecast period increases. Although the Company believes that this data is reliable as of the date of publication of this press release, the Company has not independently verified any of the data from third-party sources referred to in this press release, has not analyzed or verified the underlying studies or surveys relied upon or referred to by such sources, and has not ascertained the underlying market, economic environment or other assumptions relied upon by such sources. Market and economic data are subject to variations and cannot be verified due to limits on the availability and reliability of data inputs, the voluntary nature of the data-gathering process and other limitations and uncertainties inherent in any statistical survey.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information about the Company is available through the regular filing of press releases, financial statements and our most recent Annual Information Form in the SEDAR+ database (www.sedarplus.ca) and EDGAR (www.sec.gov.). These documents and other information about NMG are also available from our website at www.nmg.com.

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