NMG Completes Previously Announced US$309.5 Million Equity Financing Package Confirming FID for the Phase-2 Matawinie Mine

About this update from Nouveau Monde Graphite Inc

MONTRÉAL, May 15, 2026--(BUSINESS WIRE)--Nouveau Monde Graphite Inc. ("NMG" or the "Company") (NYSE: NMG, TSX: NOU) is pleased to announce the closing of its previously announced private placement with Canada Growth Fund Inc. ("CGF"), the Government of Québec via Investissement Québec ("IQ") and ENI S.p.A. ("ENI"), representing aggregate gross proceeds of approximately US$213,160,000 (the "Private Placement"). Pursuant to the Private Placement, each of CGF, IQ and ENI subscribed for 44,452,460 common shares of the Company (the "Common Shares"), 33,351,853 Common Shares and 38,043,478 Common Shares, respectively, at a price of US$1.84 per Common Share (C$2.55 per Common Share based on the Bank of Canada exchange rate as of April 8, 2026) (the "Offering Price"). The closing of the Private Placement was conditional upon, among other things, the receipt of various shareholder approvals in accordance with applicable rules of the Toronto Stock Exchange (the "TSX") and Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101"), which were obtained on May 13, 2026. The Private Placement took place as part of the financing package for the phased development of the commercial operations of the Matawinie Mine ("Phase-2 Matawinie Mine"). Exchange of the Subscription Receipts NMG is also pleased to announce that, upon the closing of the Private Placement, the escrow release conditions (the "Escrow Release Conditions") set forth in the subscription receipt agreement entered into between NMG, TSX Trust Company (the "Subscription Receipt Agent"), BMO Capital Markets ("BMO") and National Bank Capital Markets ("NBCM" and, together with BMO, the "Bookrunners") in connection with the previously announced concurrent bought deal public offering (the "Offering"), have been satisfied. Therefore, immediately following the closing of the Private Placement, the Company delivered an escrow release notice and direction to the Subscription Receipt Agent and the Bookrunners, acting on behalf of a syndicate of underwriters (the "Underwriters"), certifying that the Escrow Release Conditions had been satisfied. In accordance with the escrow release notice a...

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