NMG Releases its Climate Action Plan – Continued Carbon Neutrality with Successful Transition to Net Zero

+ NMG will maintain a carbon-neutral status and fully transition to a Net Zero profile by no later than 2030 through emission reduction and an innovative offsetting strategy

+ Proprietary technologies, clean hydroelectricity, responsible mining, R&D and continuous improvement are set to drive meaningful GHG reductions for NMG

+ NMG will develop a portfolio of compensation projects that support sequestration, nature-based solutions and partnerships with local communities

+ NMG is committed to providing the marketplace with sustainably sourced and manufactured graphite-based solutions with a traceable and carbon-neutral footprint to power global decarbonization

In line with its prior commitments, Nouveau Monde Graphite Inc. ("NMG", "Nouveau Monde" or the "Company") (NYSE: NMG, TSXV: NOU) releases its Climate Action Plan that maps its transition from a carbon-neutral production to a Net-Zero business model, from ore to battery materials. From the Company's founding to today, NMG is working towards building a mining and advanced manufacturing operation anchored in sustainable development principles, a zero-harm philosophy and business practices aligned with global decarbonization efforts. NMG is establishing an ambitious and transparent Climate Action Plan that reflects expectations and dialogue with its stakeholders ahead of its full-scale commercial activities.

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NMG is diligently pursuing its development to serve the growing electric vehicle ("EV") and cleantech markets with carbon-neutral battery materials. The Company firmly believes that its operations and corporate activities can contribute to the joint effort to limit global warming to 1.5 °C by 2050, as agreed to in the Paris Agreement.

Arne H Frandsen, Chair of NMG, commented: "As part of our sustainability and zero harm policy and commitment, Nouveau Monde strives to remain at the forefront of our industry. As one of the first, we will achieve a Net-Zero carbon footprint. While most companies are working overtime to review and reshape their business models to meet Net-Zero targets by 2050, we are set to achieve this two decades earlier. Nouveau Monde has an advantage because we have incorporated these principles into the design of our operations, the technological development of the company's proprietary processes, and our choice of equipment. This final step, from carbon neutrality to Net Zero, will enable us to deliver on our environmental stewardship promise to our employees, communities, business partners, customers, shareholders, and governments."

From Zero to Net Zero

NMG's commitments aim fundamentally at reducing the Company's embedded emissions as quickly as possible and internalizing the costs for each past, present, and future tonne of CO₂ emitted into the atmosphere. NMG has mapped its climate strategy around transparent reporting, reduction of its climate impact, transition to Net Zero, research and development for low-carbon materials and activities, as well as industry leadership. NMG's targets are based on, but not limited to, all Scope 1, Scope 2, and some Scope 3 emissions, including business travel, direct emissions associated with the facilities construction, deforestation related to the Company's direct operations, and the transportation of goods between sites.

In light of the progressive development and commissioning of its Phase-1 and Phase-2 operations, NMG projects that its greenhouse gas ("GHG") emissions will increase over the next five years before reaching operational stabilization. Reduction and mitigation measures are already in place for Phase-1 operations and are planned for Phase-2 in addition to exploratory initiatives that show reduction potential.

Irrespective of its growth and the commissioning of new facilities, NMG is committed to reducing and controlling its emissions while increasing its effectiveness and efficiency. The Company's Climate Action Plan aims to transition to a Net-Zero target and reduce the use of and financial risk associated with emissions offsets through source reduction strategies and the development of compensation projects.

By 2030, NMG plans to offset its carbon exclusively through verified carbon sequestration credits, the recommended model to limit global warming. NMG is committed to using a scientific approach targeting nature-based credits that increase global carbon sinks and reservoirs. The Company will also investigate technological opportunities to sequester carbon at its facilities or through partnerships.

As NMG aspires to create opportunities and shared value in its communities, it will incorporate credits from local projects in its compensation strategy. The Company also recognizes that the climate crisis affects the entire planet and that sequestration initiatives have a global impact. As it operates in an international market, NMG believes it is its corporate responsibility to support developing countries by investing in local climate solutions.

Eric Desaulniers, Founder, President, and CEO of NMG, added: "We are taking swift action to become a change agent and a leader in providing the market with high-quality products with a carbon-neutral footprint while meeting our customers' needs. We have incredible opportunities on the road to becoming Net-Zero. By proactively managing the carbon footprint of our operations and products, designing infrastructure with carbon sequestration potential, developing our offsets portfolio, and making long-term efforts within our industry, I am confident that we will further differentiate ourselves in the market."

2021 Carbon Footprint

In 2021, NMG reported GHG emissions of 1,546 tonnes of CO₂ equivalent in connection with carrying out its operations at its Phase-1 plants and corporate offices. This calculation entails scope 1, scope 2 and a portion of scope 3 on which the Company has financial control, namely construction at its sites, business travel, and transport between sites.

The Company has purchased verified carbon credits to offset this balance. Supporting the transition to renewable energy, the credits are associated with constructing and operating a greenfield 20 MW solar photovoltaic power plant in Madagascar. Electricity in this developing country is currently heavily reliant on imported fossil fuels. Representing the island's first large-scale solar photovoltaic power plant, the project will substitute grid electricity by clean energy, leading to considerable reductions in GHG emissions.

About Nouveau Monde

Nouveau Monde 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 low-cost operations and enviable ESG standards, Nouveau Monde 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

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Cautionary Note Regarding Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the Company's climate strategy, NMG's carbon neutral status and the successful transition towards a Net-Zero business model, the Company's initiatives outlined in the Climate Action Plan and the timeline of same, the Company's contribution to the objectives set out in the Paris Agreement, the Company's commitments, plans and strategies for the establishment and achievement of certain environmental and sustainability targets for reductions in and compensation of GHG emissions, any projections of the Company's GHG emissions, the developpement of a portfolio of compensation projects and the completion of these projects, the Company's plans and committements in connection with carbon sequestration and nature-based credits, the growth of EV and cleantech markets, the differentiation of the Company in the market, and those statements which are discussed under the "About Nouveau Monde" paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily 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 may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking information and 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 information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments' responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. 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.

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 regarding the Company is available in the SEDAR database (www.sedar.com), and for United States readers on EDGAR (www.sec.gov), and on the Company's website at: www.NMG.com

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Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
jpaquet@nmg.com