NMG and Panasonic Energy Announce Progress Update on Technological and Commercial Collaboration as Canada …

OTTAWA, Ontario — Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) ( NYSE: NMG, TSX.V: NOU) and Panasonic Energy Co., Ltd. (“Panasonic Energy”), a wholly owned subsidiary of Panasonic Holdings Corporation (“Panasonic”) (TYO: 6752), diligently progress through their technological engagement and commercial discussions toward a definitive offtake agreement on the foundation of their framework agreement targeting NMG’s fully integrated ore-to-anode-material production.

Thanks to active technical engagement between the parties, samples produced at NMG’s Phase-1 facilities are now being tested within Panasonic Energy’s battery prototype production line, enabling the diligent progress of the qualification process. Supporting this work and underlying commercial discussions, NMG and Panasonic Energy actively cooperate to strengthen technological development and process optimization for NMG’s active anode material production in line with Panasonic Energy’s specifications and quality standards.

Kazuo Tadanobu, President and CEO of Panasonic Energy, stated, “Today, the Japanese and Canadian governments signed a Memorandum of Cooperation (MOC) to deepen their bilateral partnership. I welcome the leadership demonstrated by the two governments to establish a sustainable and reliable battery supply chain. Panasonic Energy will help strengthen bilateral cooperation in the private sector, including through the partnership with NMG, to contribute to the industrial development of the two countries.”

Arne H Frandsen, Chair of NMG, declared: “Engagement over the past months has been intensive, we are delighted to now see our active anode material being tested in the Panasonic Energy’s prototype line in Japan in advance with mass production line in North America. With Panasonic Energy as a technical partner, NMG is benefiting from a depth of battery expertise to further elevate technology as the Company gears up to enter its Phase-2 commercial development. The continuous collaboration between NMG and Panasonic Energy, both on technological and commercial parameters, testifies to our joint efforts to fast-track the deployment of NMG’s full-scale production.”

The reinforced relationship echoes the Government of Canada and Government of Japan’s partnership to strengthen trade and cooperation for the development of a sustainable, competitive clean energy economy as announced today. NMG’s integrated business plan aligns with these active efforts to enhance the resilience of critical mineral global supply chains, localize advanced manufacturing for the North American market, improve adherence to environmental, social, and governance (“ESG”) standards, and foster new investment opportunities.

The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, stated: “Canada and Japan are committed to advancing our shared ambitions to develop sustainable and reliable global battery supply chains. The advancement of commercial discussions between Panasonic and Nouveau Monde Graphite is another step towards a stronger domestic critical minerals ecosystem. I’m proud to see that Quebec and our companies continue to attract the world’s leading players to our innovative ecosystems for the benefit of our environment, and our economy while creating well-paying jobs for years to come.”

Eric Desaulniers, Founder, President, and CEO of NMG, added: “Conditions for success are aligning as we refine performance and efficiency of our production, define long-term sales mechanisms to capture market growth, tap into trade partnerships, and optimize our financial structure for project financing. Intergovernmental cooperation paired with industrial collaboration as we see form the bedrock of tomorrow’s clean energy economy; NMG is part of this generational transition toward a low-carbon future.”

NMG is actively working to set strong commercial foundations via sales and investment agreements, plus engaging with international lenders and governmental branches as they assess the opportunity of supporting the Company’s Phase-2 development.

About Nouveau Monde Graphite

Nouveau Monde Graphite 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 Québec, Canada, for the growing lithium-ion and fuel cell markets. With enviable ESG standards, NMG 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. www.NMG.com