Press Releases

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.

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Vision Marine Technologies Inc. to raise approximately $7.3 million

Montreal, Canada, January 20, 2023 – Vision Marine Technologies Inc. (NASDAQ: VMAR)
(“Vision Marine” or the “Company”), a global leader and innovator within the performance electric
recreational boating industry, today announced that it has entered into a definitive agreement with certain
investors for the issuance and sale of 1,741,901 of its common shares (or common share equivalents) for
a price of $4.21 per share, for gross proceeds of approximately $7.3 million, in a registered direct
offering.

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Vision Marine Technologies and Four Winns set to Conquer the Electric Recreational Boat Market in Europe and North America

Montreal, Canada, January 17, 2023 – Vision Marine Technologies Inc. (NASDAQ: VMAR) (“Vision
Marine” or the “Company”), the global leader and innovator within the performance electric
recreational boating industry, is joining forces with Four Winns, a division of Groupe Beneteau (BEN-
Euronext), to revolutionize the recreational boating market with their new H2e Bowrider, equipped with
Vision Marine’s E-Motion™ 180 HP fully electric powertrain and motor.

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Vision Marine Technologies Receives Initial E-Motion™ Propulsion System Purchase Order from Groupe Beneteau

Montreal, Canada, December 15, 2022 – Vision Marine Technologies, Inc. (NASDAQ: VMAR) (“Vision
Marine” or the “Company”), the global leader and innovator within the performance electric
recreational boating industry, has received an initial purchase order from Groupe Beneteau (BEN-
Euronext) (“Beneteau”) of 25 E-Motion™ 180E outboard and powertrain systems. In addition, at the
beginning of each month, Beneteau will provide Vision Marine a quarterly rolling forecast, which shall
include additional quantities through a purchase order for the outboard and powertrain systems.

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Vision Marine’s E-Motion™ Electric Propulsion System to be Rolled Out Across Groupe Beneteau Brand Portfolio Per Strategic Master Supplier Agreement

Montreal, Canada, December 13, 2022 – Vision Marine Technologies (NASDAQ: VMAR) (“Vision
Marine” or the “Company”), the global leader and innovator within the performance electric
recreational boating industry, is pleased to announce we have entered into a formal Supplier Agreement with Groupe Beneteau (BEN-Euronext) (“Beneteau”).

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Vision Marine Technologies Completes Production Contract for Marine Batteries with Neogy

Montreal, Canada, November 21, 2022 – Vision Marine Technologies (NASDAQ: VMAR) (“Vision
Marine” or the “Company”), the global leader and innovator in electric transition of the recreational
boating industry, is pleased to announce it has executed a production contract with Neogy, a division of
Groupe Startec Energy, a French manufacturer of specialized batteries and systems.

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Vision Marine Technologies Expands Electric Boat Rental Operations into Portside Ventura Harbor, California

Montreal, Canada, November 10, 2022– Vision Marine Technologies (NASDAQ: VMAR) (“Vision
Marine” or the “Company”), the global leader and innovator in the electric transition of the recreational
boating industry, is pleased to announce the expansion plan of our high margin, profitable and rapidly
growing electric rental boat operations into Portside Ventura Harbor, California.

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Vision Marine Technologies Partners with Freedom Boat Club South Florida

Montreal, Canada, November 7, 2022 – Vision Marine Technologies (NASDAQ: VMAR) (“Vision Marine”
or the “Company”), or the “Company”), the global leader and innovator in electric transition of the recreational boating industry, has launched a partnership with a large franchisee of Freedom Boat Club (“FBC”), a subsidiary of Brunswick Corporation. The franchisee of FBC, located in Deerfield, Florida, will enter into a six-month evaluation program with Vision Marine. Vision Marine will supply five third party pontoons equipped with its E-Motion™ 180E fully electric outboard motor and powertrain system.

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Vision Marine Technologies Partners with Nautical Ventures Group to offer Groundbreaking 100% Recyclable Boat for the U.S. Boating Market

Montreal, Canada, October 17, 2022 – Vision Marine Technologies (NASDAQ: VMAR) ("Vision Marine"
or the "Company"), leader and innovator in the electric recreational boating industry, has formed a
partnership with Nautical Ventures Group as its sole and exclusive distributor of a fully recyclable
rotomolded plastic boat (the “Phantom”) for the state of Florida, and a non-exclusive distributor
dealership agreement for the United States. This agreement includes Nautical Ventures' agreement to
purchase a minimum of 50 Phantoms in the first year with a retail value of $1.5 million.

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