Nouveau Monde Graphite Inc.

Summary of Material Changes

On April 9, 2026, the Corporation entered into: (a) subscription agreements (the “Subscription Agreements”) with Investissement Québec (“IQ”), Canada Growth Fund Inc. (“CGF”), and ENI S.p.A., through its subsidiary ENI International B.V. (“ENI”), pursuant to which the Corporation agreed to issue an aggregate of 115,847,791 common shares of the Corporation (the “Common Shares”) at a price of US$1.84 (the “Offering Price”) per Common Share, for aggregate gross proceeds of approximately US$213 million (the “Private Placement”); and (b) an agreement with a syndicate of underwriters co-led by BMO Capital Markets and National Bank Financial (the “Bookrunners”), pursuant to which the Corporation would issue, on a “bought deal” basis, 45,600,000 subscription receipts (the “Subscription Receipts”) at the Offering Price, for gross proceeds to the Corporation of approximately US$84 million (the “Public Offering”). On April 16, 2026, the Corporation announced the closing of the Public Offering, and the gross proceeds have been deposited in escrow pending satisfaction of the Escrow Release Conditions (as defined below).