Nouveau Monde Graphite Inc · TSX:NOU
Nouveau Monde Graphite — Investor Presentation (June 2026)
46 slides from Nouveau Monde Graphite's investor presentation, June 2026
Slide 1: Advanced Graphite Materials to Power Tomorrow's Industries
Major Project of National Interest ADVANCED GRAPHITE MATERIALS TO POWER TOMORROW’S INDUSTRIES Developing one of the largest integrated production of natural graphite for the Western World ENERGY + ADVANCED TECHNOLOGIES + MANUFACTURING June 2026
Slide 2: Cautionary Statements Regarding Forward-Looking Information
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION This presentation 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 relati
Slide 3: Scientific and Technical Information
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that may cause results not to be as anticipated, estimated or intended. There can be no assurance that
Slide 4: Powering Tomorrow's Industries
POWERING TOMORROW’S INDUSTRIES NMG.com + NYSE: NMG | TSX: NOU + 4 + PROPRIETARY & CONFIDENTIAL
Slide 5: One of the First and Largest Fully Integrated Sources of Natural Graphite
» Global market trends driving demand for natural graphite: EVs, cleantech, NMG ON TRACK TO BECOMING renewable energies, strategic applications, and AI/data centers ONE OF THE FIRST » Offtake arrangements with the Government of Canada, Panasonic Energy AND LARGEST and Traxys North America FULLY INTE
Slide 6: Growing Industries Are Hungry for Graphite
+ GROWING INDUSTRIES ARE HUNGRY FOR GRAPHITE ENERGY TECHNOLOGIES + Energy storage for AI/data + Batteries centres + EVs + Grid-scale battery systems + Hydrogen fuel cells for solar and wind power + Foils for electronics + Nuclear industry + Communications systems components NEXT-GEN MATERIALS MANUFA
Slide 7: Potential Applications, Customers and Key Markets
POTENTIAL APPLICATIONS & PROPERTIES1 CUSTOMERS & KEY MARKETS2 High carbon purity, excellent electrical and FLAKE / thermal conductivity, oxidation resistance 20,000 tpa PURIFIED FLAKE + Industrial metals + Refractory market 7 years tenor Matawinie Mine volumes + Foundry products + Energy product
Slide 8: Offtake Commitments
+OFFTAKE COMMITMENTS CUSTOMER VOLUMES (KTPA) TENOR PRICING 7 years tenor Fixed North American market price ~30 ktpa for a basket of products ranging from fine to large 30 ktpa under take-or-pay commencing upon start of production at the Government of and jumbo flakes at a minimum 94% Cg purity Mataw
Slide 9: Planned to Be North America's Largest Integrated Natural Graphite Producer
+PLANNED TO BE NORTH AMERICA’S LARGEST INTEGRATED NATURAL GRAPHITE PRODUCER MATAWINIE UATNAN MINE & CONCENTRATOR MINE & CONCENTRATOR Flake graphite Large volume of flake graphite Mine and concentrator to produce 106 Ktpa of high-purity flake Mine and concentrator to produce up to concentrate UATNAN
Slide 10: Vertical Integration to Deliver Customized, Advanced Materials
+VERTICAL INTEGRATION TO DELIVER CUSTOMIZED, ADVANCED MATERIALS » Fully integrated operations in North America Integrated and » A local, turnkey alternative to highly concentrated supply, right Traceable Production at the market’s doorstep Value creation through integration » Refining processes to p
Slide 11: Striving to Become a Graphite Material Leader for the Western World
+ STRIVING TO BECOME A GRAPHITE MATERIAL LEADER FOR THE WESTERN WORLD OUR PLAN OUR GOAL OUR VISION PHASE 1 PHASE 2 PHASE 3 In operation since 2018 Ongoing financing and construction Under development “DE-RISKING” EXECUTION GROWTH » Demonstration facilities for » Matawinie Mine fully financed and » U
Slide 12: NMG's Competitiveness in Natural Flake Market
+ NMG’s COMPETITIVENESS IN NATURAL FLAKE MARKET NMG’s projected positionning based on Updated Feasibility Study NMG demonstrates the potential to deliver a competitive cost structure compared to African and ROW producers NMG.com + NYSE: NMG | TSX: NOU + 12 + PROPRIETARY & CONFIDENTIAL
Slide 13: ESG Principles Embedded in the Business Model
+ ESG PRINCIPLES EMBEDDED IN THE BUSINESS MODEL Caring Philosophy Leadership in Action Health, safety, and environmental Governance and accountability stewardship come first » Experienced and international » 1 2.83 TIFR with severity rate of 1.88 Board guiding the development of the business » 0 env
Slide 14: NMG's ESG Competitiveness
+NMG’s ESG COMPETITIVENESS Recognized Sustainability Performance Product Environmental Footprint Industry’s Global Warming Potential NMG’s Active Anode Material (kg CO2 eq per kg) 1.57 Updated lifecycle analysis compliant with ISO 14044, NMG is the leading company with demonstrated environmental Ant
Slide 15: Expanding Market in the Western World
EXPANDING MARKET IN THE WESTERN WORLD NMG.com + NYSE: NMG | TSX: NOU + 15 + PROPRIETARY & CONFIDENTIAL
Slide 16: A Localized, Carbon-Neutral Alternative
+ A LOCALIZED, CARBON-NEUTRAL ALTERNATIVE » Graphite mines exist across the globe, but 95% of spherical graphite for NMG could boost Canada’s batteries are processed share of mined graphite to 6% with our Phase 2 within a concentrated supply Matawinie Mine and 25.5% chain with our Phase 3 Uatnan Min
Slide 17: Graphite, a Risk-Exposed Critical Mineral
+GRAPHITE, A RISK-EXPOSED CRITICAL MINERAL “We need more projects of the traditional "stuff" from different geographies, and we need new options to help differentiate and reduce risk” Nicolo Campagnol, McKinsey Source – Nicolo Campagnol, McKinsey, February 2025 and IEA, Global Critical Minerals Outl
Slide 18: North American Producers Seek to Onshore Their Supply Chain
+ NORTH AMERICAN PRODUCERS SEEK TO ONSHORE THEIR SUPPLY CHAIN » U.S. One Big Beautiful Bill Act tightens domestic content rules for battery manufacturing and imposes new limits to exclude other foreign entities of concern from critical mineral supply chains » Project Vault: 12$-Billion Critical Mine
Slide 19: Canadian Leadership for Domestic Markets and Allied Countries
+ CANADIAN LEADERSHIP FOR DOMESTIC MARKETS AND ALLIED COUNTRIES Offtake agreement with Government of Canada » Multi-year binding supply and marketing term sheets offtake agreement with pricing support − Supporting commercialization for strategic domestic markets − Positioning NMG as leading supplier
Slide 20: Industrial Backbone: Refractory Applications for Manufacturing
+ INDUSTRIAL BACKBONE REFRACTORY APPLICATIONS FOR MANUFACTURING » Joint marketing and offtake agreement with Traxys to cover the North American and European refractory markets with an exclusive list of end-users » Offtake for 20,000-tpa of graphite concentrate, including a 10,000 tpa firm take-or-pa
Slide 21: Offtake Agreement with Panasonic Energy
OFFTAKE AGREEMENT WITH PANASONIC ENERGY STRATEGIC INVESTOR & CUSTOMER » Multiyear binding offtake to fast-track 13,000 tpa of active anode material via NMG’s Phase-2 integrated value chain* » US$25M Tranche 1 Investment in February 2024 » Commitment toward future construction funding *Subject to sta
Slide 22: Graphite Is Fundamental to Every Lithium-Ion Battery
+GRAPHITE IS FUNDAMENTAL TO EVERY LITHIUM-ION BATTERY: >1 kg of graphite / kWh » Graphite dominates half the lithium-ion battery LFP NMC » Anode material is a highly specialized and customized value-added product Lithium 17% Lithium 15% − NMG’s Phase-1 facilities support product qualification thanks
Slide 23: Continued Growth in Natural Graphite Demand
CONTINUED GROWTH IN NATURAL GRAPHITE DEMAND Outlook − Battery demand will continue to drive flake graphite demand − Battery applications are expected to account for 77% of total demand by 2035 Benchmark minerals, Q4 2025 Natural Graphite Forecast Report NMG.com + NYSE: NMG | TSX: NOU + 23 + PROPRIET
Slide 24: Energy Storage Systems and AI Data Centers Driving Battery Demand
ENERGY STORAGE SYSTEMS AND AI DATA CENTERS ARE DRIVING DEMAND FOR BATTERIES Benchmark minerals, Q4 2025 Natural Graphite Forecast Report Outlook − Demand for renewable energy outstrips supply − Solar jumped 88% to 18.6 GW − Battery storage rose by 64% to 7.4 GW − Investment in data centres is expect
Slide 25: Continued Growth in EVs
+CONTINUED GROWTH IN EVs » EVs grew +20% over 2025 vs. 2024 despite some removal of subsidies and policy changes − China: ~50% of new cars sold are electric − Europe: picking up speed at +33% growth − North America: slowing down pace − Emerging markets: +48% growth YoY » Iran’s oil shock drives rene
Slide 26: Global Demand Is Expected to Outstrip Supply
GLOBAL DEMAND IS EXPECTED TO OUTSTRIP SUPPLY 455 GIGAFACTORIES IN Market forecasts show a structural deficit: THE PIPELINE FOR A » Worldwide active anode material demand exceeding COMBINED CAPACITY global supply by 67,000 tonnes as of 2039 OF ~10 TWh BY 2030 » New production needed to come online to
Slide 27: Supply/Demand Dynamics Support Price Appreciation
+ SUPPLY/DEMAND DYNAMICS SUPPORT PRICE APPRECIATION China Forecasted Supply/Demand Long-term prices expected to rise 7 000 000 6 000 000 Supply Demand » High-energy anode material prices stabilizing 5 000 000 » Increased value of North American production for Western market 4 000 000 3 000 000 − Red
Slide 28: Facilitating a Local Supply of a Critical Material
FACILITATING A LOCAL SUPPLY OF A CRITICAL MATERIAL NMG.com + NYSE: NMG | TSX: NOU + 28 + PROPRIETARY & CONFIDENTIAL
Slide 29: Located in a Premier Operating Jurisdiction
+LOCATED IN A PREMIER OPERATING JURISDICTION Canada’s combination of strategic advantages Strategically located to Mining powerhouse Government committed to developing a secure and sustainable critical mineral supply chain.1 supply North American Canada is rich in resources and know-how: » Attractiv
Slide 30: Unparalleled Energy Framework
Large industrial electricity prices (¢ CAD/kWh) and intensity grid Unparalleled Energy Framework Large industrial electricity prices (¢ CAD/kWh) and intensity grid 5.8¢ ¹ 10.8¢ ² 17.3¢ ³ 12.0¢ ⁴ ¢ CAD/kWh ¢ CAD/kWh ¢ CAD/kWh ¢ CAD/kWh 1.7× more expensive 3.0× more expensive 1.8× more expensive Québe
Slide 31: Technological Validation and Optimization via Phase-1 Operations
+ TECHNOLOGICAL VALIDATION AND OPTIMIZATION VIA PHASE-1 OPERATIONS MATAWINIE BÉCANCOUR High-purity graphite flake Active anode material Each step is engineered to Flake graphite Spherical graphite Spherical purified graphite Coated spherical purified graphite add value and CONCENTRATION SHAPING PURI
Slide 32: Phase 2 Matawinie Mine
+ PHASE 2 MATAWINIE MINE A modern mine and concentrator, within only 120 km of Montréal » Responsible mining operations with strategy to develop zero-emission fleet1, innovative tailings management, PHASE 2: CONSTRUCTION UNDERWAY extensive water and biodiversity protection program, plus progressive
Slide 33: Phase-2 Matawinie Mine: Under Construction
+PHASE-2 MATAWINIE MINE: UNDER CONSTRUCTION Environmental infrastructure Deposit & Access road demonstration site Future concentrator Future vegetal stockpile Construction mobilization NMG.com + NYSE: NMG | TSX: NOU + 33 + PROPRIETARY & CONFIDENTIAL
Slide 34: Highlights for the Matawinie Mine (Phase 2)
+HIGHLIGHTS FOR THE MATAWINIE MINE (PHASE 2) OPERATIONAL PARAMETERS ECONOMIC HIGHLIGHTS Life of Mine (“LOM”) 25 years Financials Summary Initial CAPEX US$421M US$3,978/t Nominal annual processing rate 2.56 M tonnes Annual revenue (direct sales) US$139M US$1,334/t Stripping ratio (LOM) 1.16:1 Annual
Slide 35: Matawinie Fully Financed Package
+MATAWINIE FULLY FINANCED PACKAGE » US$644.5-million total financing secured combining US$309.5M equity and US$335M project debt − US$213M private placement anchored by strategic partners Canada Growth Fund, Investissement Québec and Eni − US$96.5M bought deal public offering completing the equity t
Slide 36: Works Initiated Onsite with Contractor Ramp-Up
+ WORKS INITIATED ONSITE WITH CONTRACTOR RAMP-UP NMG.com + NYSE: NMG | TSX: NOU + 36 + PROPRIETARY & CONFIDENTIAL
Slide 37: Bécancour Battery Material Plants
PHASE 2: ENGINEERING & FINANCING UNDERWAY PHASE 2 BÉCANCOUR BATTERY MATERIAL PLANTS Shaping Purification Coating Advanced manufacturing regrouping all processing units » Initial 13-Ktpa plant to fulfill Panasonic Energy’s active anode material offtake » Additional 44-Ktpa capacity to be developed on
Slide 38: Bécancour Battery Material Plants
PHASE 2 BÉCANCOUR BATTERY MATERIAL PLANTS First-Stage Brownfield Development Second-Stage Greenfield Development NMG.com + NYSE: NMG | TSX: NOU + 38 + PROPRIETARY & CONFIDENTIAL
Slide 39: Uatnan Mining Project: Among the World's Largest Graphite Projects in Development
+ PHASE 3 UATNAN MINING PROJECT: AMONG THE WORLD’S LARGEST GRAPHITE PROJECTS IN DEVELOPMENT » Located in Northern Québec, in a region renowned for its resources and associated industry − Accessible year-round by highway 389 and logging roads » Property wholly owned (100%) by NMG » Open-pit operation
Slide 40: Overview of Preliminary Economic Highlights
PHASE 3 OVERVIEW OF PRELIMINARY ECONOMIC HIGHLIGHTS Uatnan Mining Project ECONOMIC After-tax NPV (8 % discount rate) C$2,173 M HIGHLIGHTS After-tax IRR 25.9% After-tax payback 3.2 years Annual average production 500,000 tonnes OPEX per tonne of graphite concentrate C$268/tonne Initial CAPEX C$1,417
Slide 41: Industry and Technology Partners Support Our Strong Internal Team
INDUSTRY AND » Our internal technical team consisting of 110+ TECHNOLOGY professionals support our growth and continued PARTNERS innovation: SUPPORT OUR − 7 PhD, 3 MSc, 35 engineers STRONG − Decades of expertise in graphite production acquired at leading INTERNAL TEAM operators including Imerys, SGL
Slide 42: Strengthening Equity Base with a New Strategic Investor
+STRENGTHENING A RENOWNED AND BALANCE EQUITY BASE WITH A NEW STRATEGIC INVESTOR STRUCTURE (as at May 15, 2026) Basic shares (M) 329.1 Ownership Post-Transaction Warrants (M) 70.9 Convertible notes (M) 2.5 Warrants/Convertible notes (M) 2.5 Other reserves (M) 2.5 19% Options and other incentives (M)
Slide 43: Appendix
APPENDIX NMG.com + NYSE: NMG | TSX: NOU + 43 + PROPRIETARY & CONFIDENTIAL
Slide 44: Updated Resource and Reserve Summary
+ UPDATED RESOURCE AND RESERVE SUMMARY Current Pit-Constrained Mineral Resource Estimate for the West Zone Current Resource (March 25, 2025) 5,6,7 Mineral Resource Category1,2 Tonnage (Mt) Grade (% Cg)3 Contained Graphite (Mt) Measured 28.5 4.28 1.22 Indicated 101.8 4.26 4.33 Measured + Indicated 13
Slide 45: Uatnan – A World-Class Deposit Current Mineral Resource Estimate
+ UATNAN – A WORLD-CLASS DEPOSIT CURRENT MINERAL RESOURCE ESTIMATE Notes : 1. The Mineral Resources provided in this table were estimated IN-PIT CONSTRAINED MINERAL RESOURCES Tonnes (Mt) Grade (% Cg) Cg (Mt) by M. Rachidi P.Geo., and C. Duplessis, Eng., (QPs) of GoldMinds Geoservices Inc., using cur
Slide 46: Advanced Graphite Materials to Power the Energy Revolution
ADVANCED GRAPHITE MATERIALS TO POWER THE ENERGY REVOLUTION CORPORATE OFFICE NMG.com CONTACT 995 Wellington Street, Suite 240 Facebook Marc Jasmin Montréal (Québec) H3C 1V3 Twitter Director, Investor Relations Canada YouTube +1 450 757-8905 #993 LinkedIn mjasmin@nmg.com NMG.com + NYSE: NMG | TSX: NOU
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