• Updated binding long-form term sheet with the Government of Canada setting out principal commercial terms for the supply, storage, and resale of graphite concentrate from NMG’s Phase‑2 Matawinie Mine.
• Framework covers 30,000 tpa purchase commitment over a seven-year term, subject to customary conditions precedent including governmental appropriations and NMG’s positive FID.
• Pricing based on a North American fixed price with an annual inflation adjustment.
• Marketing structure allows NMG to resell Canada’s committed volumes, with an upside-sharing mechanism on proceeds above the fixed price, and the ability for Canada to store product.
• NMG’s Phase-2 Matawinie Mine actively progressing toward FID on the back of a commitment letter for a senior secured project debt facilities of US$335 million with EDC and CIB.

Nouveau Monde Graphite Inc. (NYSE: NMG) (TSX: NOU) has executed an updated binding long-form term sheet with the Government of Canada, represented by Public Services and Procurement Canada, setting out the principal commercial terms for the supply, storage and resale of graphite concentrate from the Company’s Phase‑2 Matawinie Mine in Québec, Canada.

Eric Desaulniers, Founder, President, and CEO of NMG, stated:

“This updated framework with the Government of Canada is another key step in reinforcing the bankability of our Phase‑2 Matawinie Mine and our positioning among the G7 and allied countries as a local, dependable, and responsible graphite source. The contemplated supply, storage and marketing structure is designed to support Canada’s strategic ambitions while preserving commercial agility for NMG as we advance toward definitive agreements and a final investment decision.”

The updated binding long-form term sheet advances work toward definitive transaction agreements, with Canada committing to purchase 30,000 tonnes per annum (“tpa”) of flake graphite concentrate from the Matawinie Mine on a take-or-pay basis over a seven-year term. Pricing for the committed volumes is based on the North American fixed price set out in the parties’ October 31, 2025 term sheet, subject to an annual inflation adjustment aligned with the Industrial Product Price Index. The marketing framework allows NMG to resell Canada’s committed volumes – a basket of products ranging from fine to large and jumbo flakes at a minimum 94% Cg purity level – with a 50-50 upside-sharing mechanism where resale proceeds exceed the fixed price.

The binding long-form term sheet is subject to satisfaction of customary conditions precedent, including the completion of governmental approvals and appropriations processes, and a positive FID on NMG’s Matawinie Mine.

This binding commercial term sheet complements NMG’s offtake agreements with Panasonic Energy Co., Ltd., a wholly owned subsidiary of Panasonic Holdings Corporation (TYO: 6752), and Traxys North America LLC, which collectively account for more than 70% of the Phase-2 Matawinie Mine future graphite concentrate production.

NMG’s Phase‑2 Matawinie Mine project financing is advancing with a fully committed senior secured project debt commitment letter of US$335 million from Export Development Canada and the Canada Infrastructure Bank, providing a long‑tenor, flexible project‑finance structure with competitive rates and repayment terms. The debt commitment represents a first step in NMG’s financing schedule and supports a clear path to FID, underpinned by long‑term offtake arrangements and by a shovel‑ready project substantially de‑risked through detailed engineering, site preparatory work, key permits, and instrumental agreements with the Atikamekw First Nation and the local community.

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.