Investor Presentaiton

The Wall Street Journal, January 2023 DEMAND EXPECTED TO OUTSTRIP SUPPLY Market projection for graphite demonstrates structural deficit: 8,500,000 8,000,000 SUPPLY SHORTAGES EMERGING AS EV DEMAND RAMPS UP 7,500,000 7,000,000 6,500,000 6,000,000 5,500,000 AMG 5,000,000 » New production needed to come online to meet the strong growth market 4,500,000 Projected start of Phase-2 production 4,000,000 Timely launch of Phase 3 to tap into demand/supply gap » NMG will be well positioned in what we expect to be a "seller's market" over the next decade 3,500,000 3,000,000 2,500,000 "Existing production for graphite's 2,000,000 other uses has kept the market well supplied to this point and prevented price spikes, but analysts expect that to change as batteries become the largest source of demand." 1,500,000 1,000,000 500,000 NMG.com + NYSE: NMG | TSXV: NOU | FSE: NM9A Source: Benchmark Mineral Intelligence, Q3-2023 + 22 + 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 PROPRIETARY & CONFIDENTIAL 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 MMG

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