GUERNSEY, Channel Islands, May 25, 2026 /CNW/ - Pallinghurst Graphite International Limited ("PGIL") and Pallinghurst Bond Limited ("PBL", and together with PGIL the "Reporting Person") have today filed an updated early warning report in respect of common shares ("Common Shares") and common share purchase warrants ("Warrants") of Nouveau Monde Graphite Inc. (the "Issuer"). The updated early warning report was filed on a voluntary basis taking into account various corporate actions undertaken by the Issuer since the Reporting Person's previous early warning report dated November 13, 2025 ("Previous Report"), including, among other actions, various issuances by the Issuer of Common Shares and other securities convertible into, or exchangeable or exercisable for, Common Shares, including the recently completed equity private placement as part of the financing package for development of the Matawinie Mine. The early warning report filed on the date hereof constitutes the Reporting Person's exit report for purposes of the early warning requirements under applicable Canadian securities laws.

The Previous Report disclosed that the Reporting Person was deemed to have, as of the date of the Previous Report, beneficial ownership, directly or indirectly, of an aggregate of 21,354,048 Common Shares consisting of (i) 5,618,907 Common Shares owned indirectly by PGIL through a wholly owned subsidiary, (ii) 2,708,793 Common Shares owned directly by PGIL, (iii) 6,776,348 Common Shares owned directly by PBL, and (iv) 6,250,000 Warrants owned directly by PBL and exercisable into Common Shares . At the date of the Previous Report, this represented approximately 9.91% of the issued and outstanding Common Shares on an undiluted basis and 13.46% of the issued and outstanding Common Shares on a partially diluted basis (assuming the Warrants were exercised in full).

As of the date hereof, the Reporting Persons have beneficial ownership, directly or indirectly, of an aggregate of 19,394,970 Common Shares consisting of (i) 5,618,907 Common Shares owned indirectly by PGIL through a wholly owned subsidiary, (ii) 749,715 Common Shares owned directly by PGIL, (iii) 6,776,348 Common Shares owned directly by PBL, and (iv) 6,250,000 Warrants owned directly by PBL and exercisable into Common Shares. This represents approximately 3.99% of the issued and outstanding Common Shares on an undiluted basis and 5.78% of the issued and outstanding Common Shares on a partially diluted basis (assuming the Warrants are exercised in full).

In accordance with applicable securities laws, the Reporting Person may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Issuer in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Issuer and other relevant factors.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with these transactions, please go to the Issuer's profile on SEDAR+ (www.sedarplus.ca) or contact Andrew Willis at +44 1481 740 520. PGIL and PBL have their registered offices at 2nd Floor, 23-25 Le Pollet, St Peter Port, Guernsey, GY1 1WQ.

SOURCE Pallinghurst Graphite International Limited (PGIL)

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