Nouveau Monde Graphite Inc. (“NMG& or the “Company&) (NYSE: NMG, TSX: NOU) held today a groundbreaking ceremony marking the official start of construction of the Matawinie mine project in Saint-Michel-des-Saints, Quebec, in the presence of the Right Honourable Mark Carney, Prime Minister of Canada, Bernard Drainville, Quebec Minister of Economy, Innovation and Energy and Minister responsible for the Maritime Strategy, as well as partners, elected officials, and key community stakeholders.
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Eric Desaulniers, President and CEO of Nouveau Monde Graphite, addresses the audience during the groundbreaking ceremony officially marking the launch of construction of Phase-2 Matawinie mine.
This important milestone reflects several years of planning and investment in local communities and demonstrates the Company&s commitment to sustainable development through the responsible valorization of graphite, a critical and strategic mineral at the heart of the energy transition.
The presence on site of the Right Honourable Mark Carney, Prime Minister of Canada, Bernard Drainville, Quebec Minister of Economy, Innovation and Energy, Sipi Flamand, Chief of the Atikamekw Council of Manawan, and Mario Venne, Mayor of Saint-Michel-des-Saints, underscores the strategic importance of the project. The project aligns with the priorities of both Canada and Quebec to establish one of the largest integrated natural graphite production platforms in the G7 and to secure critical mineral supply chains, while generating meaningful benefits for local communities and regions.
It should also be noted that the project was designated in November of last year as a major project of national interest by the Government of Canada, highlighting the strategic value of the Company&s business plan to build one of the largest integrated natural graphite production platforms in the G7.
Eric Desaulniers, Founder, President and CEO of NMG, stated: “This groundbreaking marks far more than the start of construction, it represents the culmination of years of dedication and perseverance by our employees who have firmly believed in our vision from the very beginning. I would like to sincerely thank them for their exceptional efforts and contributions. I also wish to acknowledge the invaluable support and commitment of all levels of government, the Atikamekw Nation of Manawan, the Municipality of Saint-Michel-des-Saints, as well as our other partners and clients."
Sipi Flamand, Chief of the Atikamekw First Nation of Manawan, commented: “The start of construction of the Matawinie graphite mine represents a concrete step toward true economic reconciliation. It is the result of a relationship between the company and the community based on respect, trust, and a shared vision for the development of our territory. It will create quality jobs for our members and enable sustainable business opportunities for our enterprises. By supporting this project, our community is also proudly contributing to the growth of a global green economy. This is a project that will bring prosperity for generations to come.&
Mario Venne, Mayor of Saint-Michel-des-Saints, added: “We are pleased to see all the work accomplished to bring this project to life, which will deliver positive benefits for our community and for the future of our youth in terms of jobs, attractiveness, and economic vitality. Thanks to the active participation of our citizens in the consultation process, this initiative respects our region and environment. Today, we are reaching an important milestone with the start of its implementation, which will contribute to greater stability for our infrastructure.&
Construction and commissioning of the Matawinie mine project are expected to take approximately 31 months, leading to full commercial production by the end of 2028, with an estimated average annual production of 106,000 tonnes of graphite which positions the project at the heart of the critical minerals supply chain. Production is supported by diversified commercial agreements, notably with Panasonic Energy, the Government of Canada, and Traxys North America, covering more than 70% of expected production.
In parallel, and in support of its vertically integrated business model, the Company aims to reach a final investment decision (FID) in the second half of 2026 for its battery material plant in Bécancour, with a planned capacity of 13,000 tonnes per year dedicated to the Panasonic Energy offtake.
Beyond its industrial impact, the integrated project is expected to generate significant economic benefits, including the creation of several hundred jobs during construction and the maintenance of more than 300 high-quality jobs once operations are fully underway.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral advanced graphite materials. The Company is developing in Québec, Canada, a fully integrated ore-to-processed graphite value chain to serve tomorrow&s industries in energy, advanced technology, and manufacturing. With recognized ESG standards and structuring partnerships with major customers, NMG is set to become a strategic supplier of advanced materials to leading specialized manufacturers while promoting sustainability, innovation, and supply chain traceability. www.NMG.com
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CautionaryNoteRegardingForward-LookingInformation
This press release contains “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 forward-looking statements reflect management&s current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to the Company&s ability to raise all funds needed to complete the Phase-2 Matawinie Mine, the Company&s ability to execute the construction and the commissioning of the Matawinie mine project as planned and in accordance with the execution plan and strategy, the ability of all contractors and suppliers of the Company to deliver in accordance with their commitment, the Company&s ability to develop and fund the 13,000 tpy battery material plant in Bécancour, including the ability to reach final investment decision in H2-2026 and the expected results of the initiatives described in this press release, and those statements which are discussed under the “About Nouveau Monde Graphite& paragraph and elsewhere in the press release which essentially describe the Company&s outlook and objectives.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the Company&s ability to execute the construction and the commissioning of the Matawinie mine project as planned and in accordance with the execution plan and strategy, the ability of all contractors and suppliers of the Company to deliver in accordance with their commitment, the Company&s ability to develop and fund the 13,000 tpy battery material plant in Bécancour, including the ability to reach final investment decision in H2-2026.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, failure to complete the construction and commissioning as planned and expected timeline, the failure to reach final investment decision for the 13-ktpy battery material plant in Becancour and general business risks. A further description of risks and uncertainties can be found in NMG&s Annual Information Form dated March 25, 2026, 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.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any 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. Forward-looking statements are provided for the purpose of providing information about management&s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding the Company is available in the SEDAR+ database (www.sedarplus.ca), and for United States readers on EDGAR (www.sec.gov), and on the Company&s website at: www.NMG.com.
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