Investor Vision Marine Technologies

Vision Marine Technologies Announces Pricing of Initial Public Offering of Common Shares

Montreal, Canada – November 23, 2020 – Vision Marine Technologies Inc. (Nasdaq: VMAR),
the leading provider of electric technology in the design and manufacture of the first fully electric powertrain outboard motor (E-Motion) and electric power boats, today announced the pricing of its initial public offering of 2,400,000 common shares at a price of US$10.00 per
share for gross proceeds of US$24,000,000, before deducting underwriting discounts,
commissions and offering expenses. Vision has granted the underwriter a 45-day option to
purchase up to an additional 360,000 common shares at the initial public offering price, less
discounts and commissions, to cover over-allotments.

The common shares will be listed on the Nasdaq Capital Market under the ticker symbol “VMAR” and
are expected to begin trading on November 24, 2020. The Offering is expected to close November
27, 2020, subject to satisfaction of customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book running
manager for the offering.

Vision intends to use the net proceeds from the offering for sales and marketing, buildup of
inventory for order fulfillment, research and development, development of rental operations, and
general working capital.

A registration statement on Form F-1 (File No. 333-239777) relating to the shares was filed with the
Securities and Exchange Commission (“SEC”) and became effective on November 23, 2020, and a
related registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as
amended. This offering is being made only by means of a prospectus. Copies of the final prospectus,
when available, may be obtained from ThinkEquity, a division of Fordham Financial Management,
Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, or by
email at The final prospectus will be filed with the SEC and will be
available on the SEC’s website located at

This press release does not constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

About Vision Marine Technologies

Vision Marine Technologies Inc., (NASDAQ: VMAR) strives to change and be a contributing factor in
fighting the problem of waterway pollution by disrupting the boating industry with electric power,
contributing to zero pollution, zero emission, wave less water, and a noiseless environment.

Our flagship outboard powertrain (E-Motion) is the first fully electric outboard powertrain system
that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union
assembly between the transmission and the electric motor design and extensive control software.
Our E-Motion technologies used in this powertrain system are designed to improve the efficiency of
the outboard powertrain and, as a result, increase range and performance.

Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance,
environmentally friendly, electric recreational powerboats to recreational customers.

The design and technology applied to our boats results in far greater and enhanced performance,
higher speeds, and longer range. Simply stated, a smoother ride than a traditional ICE motorboat.

Forward-Looking Statements

The statements contained in this press release that are not historical facts are forward-looking
statements. For example, when Vision discusses the commencement of trading on Nasdaq, the
closing of the offering, and the expected use of proceeds, it is using forward-looking statements.
These forward-looking statements are based on Vision’s current expectations and are not guarantees
of future performance. The forward-looking statements are subject to various risks, uncertainties,
assumptions, or changes in circumstances that are different to predict or quantify. Actual results may
differ materially from these expectations due to changes in global, regional, or local economic,
business, competitive, market, regulatory and other factors, many of which are beyond Vision’s
control. Important factors that could cause actual results to differ materially from those in the
forward-looking statements are set forth in Vision’s filings with the SEC, including its registration
statement on Form F-1, as amended from time to time, under the caption “Risk Factors.” Any
forward-looking statement in this press release speaks only as of the date of this release. Vision
undertakes no obligation to publicly update or review any forward-looking statement, whether as a
result of new information, future developments or otherwise, except as may be required by any
applicable securities laws.

For further information, please contact:

Bruce Nurse, Investor Relations
(800) 871-4274

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