Vision Marine Technologies Completes US$16.3 Million At-the-Market Equity Offering Program

About this update from Vision Marine Technologies Inc.

Following ATM completion, Vision Marine reports approximately US$9.5 million in unrestricted consolidated cash; pending real estate transactions, if completed, are expected to generate approximately US$5.58 million in estimated net equity proceeds. BOISBRIAND, QC, and FORT LAUDERDALE, Fla., July 14, 2026 /PRNewswire/ -- Vision Marine Technologies Inc. ( NASDAQ: VMAR; TSXV: VMAR ) ("Vision Marine" or the "Company"), a marine technology and recreational boating company combining proprietary high-voltage electric propulsion technology with a retail, marina and service platform, today announced the successful completion of its at-the-market ("ATM") equity offering program, originally announced on January 23, 2026, pursuant to which the Company raised approximately US$16.3 million in aggregate gross proceeds. The ATM program is complete, and no additional common shares will be issued under the completed program. Following completion of the ATM program and final settlement, the Company has 6,530,460 common shares outstanding and approximately US$9.5 million of unrestricted consolidated cash. This unrestricted cash balance reflects cash available to the Company following completion of the ATM program and excludes restricted cash balances. In addition, Vision Marine expects to receive further cash from its previously announced pending Florida real estate transactions. If completed as currently contemplated, the transactions are expected to generate approximately US$13.1 million in aggregate gross sale proceeds and approximately US$5.58 million in estimated net equity proceeds to the Company before customary closing adjustments, taxes and transaction costs. Management believes the enhanced liquidity resulting from the completed ATM positions Vision Marine to continue executing its operational priorities, including inventory optimization, marina operations, electric boat product development, disciplined working capital management and strategic growth initiatives. The expected net equity proceeds from the pending real estate transactions would provide further financial flexibility without the issuance of additional equity. "Completing the ATM program, together with the expected non-dilutive capital from our pending real estate transactions, strengthens the foundation from which we can continue executing our strategy," said Alexandre Mongeon, Chief Executive Officer and Co-Founder of Vision Marine. "Building on the operational progress achieved over the past year, we remain firmly focused on advancing E-Motion™ commercialization, expanding our electric boat portfolio, optimizing our retail, marina and service platform and building a more scalable foundation for the future of boating and long-term shareholder value."

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