NMG · Nouveau Monde Graphite Inc.

Nouveau Monde Graphite Inc. has successfully closed a significant equity financing, raising approximately US$96.5 million through the sale of 52,440,000 subscription receipts at US$1.84 each. This offering includes the full exercise of the over-allotment option. The structure of the financing is contingent and staged; the gross proceeds (less 50% of the underwriting fee) have been deposited into escrow. The release of these funds is conditional upon the completion of a previously announced concurrent private placement of approximately US$213 million, which is expected to close on or about May 15, 2026. Until the release conditions are met, the subscription receipts will trade on the Toronto Stock Exchange under the symbol 'NOU.R.U'.

Strategically, this financing is a critical component of the company's capital plan for the Phase-2 Matawinie Mine. Management states that the net proceeds from this offering and the private placement, combined with the previously announced US$335 million senior project debt facilities, are expected to fully fund the Phase-2 Matawinie Mine. This positions the company to advance toward a final investment decision (FID) and construction. The financing was conducted on a bought deal basis through a syndicate led by BMO Capital Markets and National Bank Capital Markets, with a 5% cash fee. If the release conditions are not satisfied by July 31, 2026, holders of subscription receipts will receive a return of their purchase price plus a pro rata portion of interest earned.