Nouveau Monde Graphite Inc · TSX:NOU
Nouveau Monde Graphite — Investor Presentation (October 2026)
45 slides from Nouveau Monde Graphite's investor presentation, October 2026
Slide 1: Advanced Graphite Materials to Power Tomorrow's Industries
Matawinie Mine: Major Project of National Interest ADVANCED GRAPHITE MATERIALS TO POWER TOMORROW’S INDUSTRIES Developing one of the first fully integrated natural graphite production platforms in the G7 ENERGY + ADVANCED TECHNOLOGIES + MANUFACTURING October 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
Market and industry data presented throughout this presentation was obtained from third-party sources and industry reports, publications, websites and other publicly available information, as well as industry and other data prepared by the Company or on the behalf of the Company on the basis of the
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 Fully Integrated Natural Graphite Production Platforms in the G7
» 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 FULLY INTEGRATED and Traxys North America NATUR
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 and Customers & Key Markets
POTENTIAL APPLICATIONS & PROPERTIES1 CUSTOMERS & KEY MARKETS2 High carbon purity, excellent electrical and FLAKE / thermal conductivity, oxidation resistance 20,000 tpy PURIFIED FLAKE + Industrial metals 7 years tenor + Refractory market Matawinie Mine volumes + Foundry products + Energy products
Slide 8: Offtake Commitments
+OFFTAKE COMMITMENTS CUSTOMER VOLUMES (KTPY) TENOR PRICING 7 years tenor Fixed North American market price ~30 ktpy for a basket of products ranging from fine to large 30 ktpy 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: An Overview of Our Projects
+AN OVERVIEW OF OUR PROJECTS MATAWINIE UATNAN MINE & CONCENTRATOR MINE & CONCENTRATOR Flake graphite Large volume of flake graphite Mine and concentrator to produce 106 ktpy of high-purity flake Mine and concentrator to produce up to concentrate UATNAN 500 ktpy of flake concentrate2 25-year life of
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 » 0.95 TRIFR and severity rate of 1.89 for Board guiding the development the Company’s employe
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) Benchmark's Natural Graphite Sustainability Index Issue 1-2025 1.57 Benchmark's Natural Graphite Sustainability Index Is
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 batteries are processed within a concentrated supply chain CANADA » Global battery and EV manufacturers seek CHINA No current significant alternative, sustainable 78% of flake, source
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 tpy of graphite concentrate, including a 10,000 tpy 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 13ktpy 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 standar
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% Cathode (+) Nickel 29% » Natural and synthetic graphite are com
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 Are Driving Demand for Batteries
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: Global Demand Is Expected to Outstrip Supply
GLOBAL DEMAND IS EXPECTED TO OUTSTRIP SUPPLY 476 GIGAFACTORIES IN Market forecasts show a structural deficit: THE PIPELINE FOR A » Worldwide active anode material demand exceeding COMBINED CAPACITY global supply by 227 000 tonnes as of 2038 OF ~10 TWh BY 2030 » New production needed to come online t
Slide 26: Supply/Demand Dynamics Support Price Appreciation
+ SUPPLY/DEMAND DYNAMICS SUPPORT PRICE APPRECIATION China Forecasted Supply/Demand Natural AAM Long-term prices expected to rise 1 000 000 800 000 Supply Demand » High-energy anode material prices stabilizing 600 000 » Increased value of North American production for Western market 400 000 − Reduced
Slide 27: Facilitating a Local Supply of a Critical Material
FACILITATING A LOCAL SUPPLY OF A CRITICAL MATERIAL NMG.com + NYSE: NMG | TSX: NOU + 27 + PROPRIETARY & CONFIDENTIAL
Slide 28: 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: $64.3 billi
Slide 29: 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 30: From Mine to Battery Materials: Creating Value at Every Step
+ FROM MINE TO BATTERY MATERIALS: CREATING VALUE AT EVERY STEP 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 PURIFICA
Slide 31: Phase 2 Matawinie Mine
+ PHASE 2 PHASE 2: CONSTRUCTION UNDERWAY MATAWINIE MINE A modern mine and concentrator, 120 km from Montréal » Responsible mining operations with strategy to develop zero-emission fleet1, innovative tailings management, extensive water and biodiversity protection program, plus progressive reclamatio
Slide 32: 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 + 32 + PROPRIETARY & CONFIDENTIAL
Slide 33: 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 34: Matawinie Mine Fully Financed Package
+MATAWINIE MINE 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 equ
Slide 35: Works Initiated Onsite with Contractor Ramp-Up
+ WORKS INITIATED ONSITE WITH CONTRACTOR RAMP-UP NMG.com + NYSE: NMG | TSX: NOU + 35 + PROPRIETARY & CONFIDENTIAL
Slide 36: Bécancour Battery Material Plant
PHASE 2: ENGINEERING & FINANCING UNDERWAY 13KTPY BÉCANCOUR BATTERY MATERIAL PLANT Shaping Purification Coating Advanced manufacturing regrouping all processing units » 13ktpy plant to fulfill Panasonic Energy’s active anode material offtake » Heavy industrial zone with clean, affordable electricity
Slide 37: Bécancour Battery Material Plant
PHASE 2 BÉCANCOUR BATTERY MATERIAL PLANT Brownfield Development NMG.com + NYSE: NMG | TSX: NOU + 37 + PROPRIETARY & CONFIDENTIAL
Slide 38: Uatnan Mining Project: Among the World's Largest Graphite Projects in Development
+ 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 with on
Slide 39: Overview of Preliminary Economic Highlights
UATNAN OVERVIEW OF PRELIMINARY ECONOMIC HIGHLIGHTS Uatnan Mining Project ECONOMIC After-tax NPV (8 % discount rate) C$2,173 M HIGHLIGHTS January 2023 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 CA
Slide 40: Industry and Technology Partners Support Our Strong Internal Team
INDUSTRY AND » Our team consisting of 110+ professionals support our TECHNOLOGY growth and continued innovation: PARTNERS − Decades of expertise in graphite production acquired at leading SUPPORT OUR operators including Imerys, SGL Group and BTR New Material STRONG » Extended technological platform
Slide 41: A Renowned and Balanced Shareholder Base
+ A RENOWNED AND BALANCED SHAREHOLDER BASE STRUCTURE (as of August 11, 2026) Ownership Post-Transaction Basic shares (M) 329.1 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) 7.9 Fully diluted shares (M) 416.5
Slide 42: Appendix
APPENDIX NMG.com + NYSE: NMG | TSX: NOU + 42 + PROPRIETARY & CONFIDENTIAL
Slide 43: 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 44: 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 45: 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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