Nouveau Monde Graphite Inc. (NMG) Mitsui & Co., LTD (Mitsui) and Panasonic Energy Co., Ltd. (Panasonic Energy), a wholly owned subsidiary of Panasonic Holdings Corporation have entered into a Framework Agreement establishing the terms of the commercial relationship between the parties to enable the next development steps of NMG's ore-to-battery-market integrated graphite project in QuTbec, Canada. NMG will use the proceeds of the abovementioned investment to work in the upcoming months on optimizing the feasibility study on NMG's Phase-2 Commercial integrated operations, which is available on SEDAR and EDGAR, based on the memorandum of understanding for the contemplated offtake agreement. The strategic transaction comprises a non-binding memorandum of understanding on an offtake by Panasonic Energy of a significant portion of NMG's green active anode material out of the Company's integrated Phase-2 Commercial production facilities over a multi-year term.

While there can be no assurance that a final offtake agreement with Panasonic Energy will be completed, NMG and Panasonic Energy will work together in the upcoming months to establish a definitive offtake agreement. As part of the transaction, a Framework Agreement was signed by NMG, Mitsui and Panasonic Energy that defines the role and responsibilities of the parties in the coming months, including optimization of the feasibility study and other important project-related operational milestones. NMG plans to use the proceeds from the investment to support the finalization of the design, operation, marketing, and corporate parameters of the Phase-2 Matawinie Mine and BTcancour Battery Material Plant.

The intention is to proceed with project financing and the final investment decision ("FID") on both the Matawinie Mine and BTcancour Battery Material Plant once that optimization phase is completed and all operational variables are well understood. NMG anticipates a 28-month construction period following FID to bring its operations to commercial production. The Framework Agreement and the Side Letter Agreements/Investment Agreements shall become effective at closing.