Vision Marine Technologies Inc. Announces Closing of Registered Direct Offering

Montreal, Canada, January 27, 2023 – Vision Marine Technologies Inc. (NASDAQ: VMAR) (“Vision Marine”
or the “Company”), a global leader and innovator within the performance electric recreational boating
industry, a global leader and innovator within the performance electric recreational boating industry, today
announced the closing of its registered direct offering with certain investors for the issuance and sale of
554,253 of its common shares at a price of $4.21 per share, for gross proceeds of approximately $2.3
million.