Nouveau Monde Graphite (NMG) 34th Annual BMO Global Metals, Mining & Critical Minerals Conference summary

Project overview and strategy

• Transitioned from grassroots exploration to a construction-ready, vertically integrated graphite project over 14 years.

• Focuses on supplying engineered graphite materials for battery cell makers in North America and Europe.

• Three-phase development: Matawinie Mine (100,000 tpa), Bécancourt Battery Material Plant, and a future 500,000 tpa project.

• Phase one plant operational since 2018 for customer qualification and process optimization.

• Updated feasibility study for phase two to be published before end of Q1.

Market dynamics and customer commitments

• Graphite is essential for all battery chemistries, contributing significantly to battery carbon footprint.

• 90% of revenue expected from anode material, with the remainder from flake concentrate sales.

• Secured seven-year take-or-pay agreements with Panasonic Energy and GM for 18,000 tpa each.

• Customers aim to localize supply chains and reduce reliance on China, driven by U.S. plant expansions.

• Record EV and ESS sales globally, with graphite demand rising for both sectors.

Financing, partnerships, and execution

• Over $100 million in cash, fully financed to reach FID and project financing for phase two.

• Major investors include Investissement Québec, Canada Growth Fund, Panasonic, GM, Mitsui, and Pallinghurst.

• All stakeholders have submitted letters of interest; project financing expected to close within two quarters after feasibility study.

• Construction activities started at Matawinie; Bécancourt site prepared and ready for build-out.

• Targeting first production for customers in 2028, with phase three build readiness by then.