Details of Engagement

NMG announces that it has retained Red Cloud Securities (“Red Cloud”), subject to all required regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange”) to provide liquidity services to the Company in compliance with the policies and guidelines of the Exchange and other applicable legislation, pursuant to an agreement engagement letter entered into between the Company and Red Cloud effective January 2, 2023 (the “Agreement”). Red Cloud is a Toronto-based financial services company that helps mineral exploration and mining companies with accessing capital markets and enhancing their corporate profile. Red Cloud is not promoting the specific purchase or sale of securities. Red Cloud will trade shares of NMG on the Exchange for the purposes of maintaining a reasonable market and improving the liquidity of NMG’s common shares.

Agreement Terms

Under the Agreement, the Company will pay Red Cloud $5,000 per month during the term, payable quarterly in advance. The term of engagement is ongoing and may be terminated by either party on 30-day prior written notice. The Company and Red Cloud have an arm’s length relationship, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of NMG. Adam Smith will be the responsible person. The Agreement is principally for the purposes of maintaining market stability and liquidity for the Company’s common shares and is not a formal market-making agreement. There are no performance factors contained in the Agreement and Red Cloud will not receive any shares or options from the Company as compensation for the services it will render.

Options Grant

On December 1, 2022, NMG announced the cancellation of 487,804 options and grant of 453,048 new options to two consultants, subject to the Exchange approval. NMG wishes to specify that those new options will vest at certain conditions on or before March 28, 2025, and will expire two (2) years following the vesting of those options (no later than March 28, 2027).

About Red Cloud Securities

Red Cloud Securities Inc. is registered as an Investment Dealer in Ontario, Québec, Alberta and British Columbia and is a member of the Investment Industry Organization of Canada. It is focused on providing unique comprehensive capital market services and innovative financing alternatives to the junior resource sector. The company was founded by capital markets professionals who designed the firm to service small public and private companies. This solution is a comprehensive platform that provides a full range of unconflicted corporate access services. Offering these services as a unified platform provides the ultimate value proposition for issuer clients.

About Nouveau Monde Graphite

Nouveau Monde Graphite 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 Graphite 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.