Nouveau Monde Graphite Inc.
For the period ended Dec 31, 2025. Filed Mar 26, 2026.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2025 · Filed Mar 26, 2026
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Contents
EX-99.3 · PREAMBLE
PREAMBLE
This Management Discussion and Analysis (“MD&A”) dated March 25, 2026, has been prepared according to Regulation 51-102 of the continuous disclosure requirements and approved by the Board of Directors of Nouveau Monde Graphite Inc. (the “Company” or “NMG”).
This MD&A should be read in conjunction with the Company’s audited consolidated financial statements for the years ended December 31, 2025, and December 31, 2024, and related notes included therein. The Company’s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards, as published by the International Accounting Standards Board (“IASB”) (“IFRS Accounting Standards”). All monetary amounts included in this MD&A are expressed in thousands of Canadian dollars (“CAD”), the Company’s reporting and functional currency, unless otherwise noted.
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