Nouveau Monde Graphite Inc.

GENERAL COMMENT

Regulation 58-101 respecting Disclosure of Corporate Governance Practices(“Regulation 58-101”) and Policy 3.1 –Directors, Officers, Other Insiders & Personnel and Corporate Governanceof the Exchange Corporate Finance Manual set out a series of guidelines for effective corporate governance. The guidelines address matters such as the composition and independence of corporate boards, the functions to be performed by boards and their committees, and the effectiveness and education of board members. Each reporting issuer, such as the Corporation, must disclose on an annual basis and in the prescribed form, the corporate governance practices that it has adopted. The following is the Corporation’s required annual disclosure of its corporate governance practices provided as of the date of the Circular.

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