Vision Marine Technologies Announces Corporate Governance Update

BOISBRIAND, QC, July 30, 2026 /PRNewswire/ -- Vision Marine Technologies Inc. (NASDAQ: VMAR; TSXV: VMAR) ("Vision Marine" or the "Company") announces that meeting materials have been filed in connection with the Company's special meeting of shareholders scheduled for August 20, 2026. At the meeting, shareholders will be asked to approve a proposed share consolidation within a range of 5:1 to 10:1, if determined advisable by the Board of Directors (the "Proposed Consolidation").

The Proposed Consolidation is intended to preserve strategic flexibility with respect to continued listing requirements, including compliance with the minimum bid price requirement under the Nasdaq Stock Market ("Nasdaq") listing rules. The Proposed Consolidation remains subject to shareholder approval and the approval of the TSX Venture Exchange.

Complete meeting materials are available through the Company's public filings. Please consult the meeting materials for additional details regarding the Proposed Consolidation.

About Vision Marine Technologies Inc.

Vision Marine Technologies Inc. (NASDAQ: VMAR; TSXV: VMAR) is a marine technology and recreational boating company focused on delivering an enhanced on-water experience across propulsion types.

The Company develops proprietary high-voltage electric propulsion technology through its E-Motion™ platform and supports its commercialization through a retail, marina, service and delivery platform. Vision Marine's integrated operating model combines technology development, consumer access, service infrastructure and multi-brand boating operations.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include, but are not limited to, statements regarding the Proposed Consolidation; the receipt of shareholder and TSX Venture Exchange approvals; the Board of Directors' determination whether to implement the Proposed Consolidation and, if implemented, the applicable consolidation ratio and timing; the intended purpose and potential effects of the Proposed Consolidation; and the Company's ability to achieve or maintain compliance with applicable Nasdaq and TSX Venture Exchange continued listing requirements.

Forward-looking statements are based on management's current expectations, estimates, assumptions and projections and involve known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements.

These risks include, among others, the possibility that the required shareholder or regulatory approvals may not be obtained; that the Board of Directors may determine not to proceed with the Proposed Consolidation; that the market price of the Company's common shares may not increase in proportion to the consolidation ratio or may decline following the Proposed Consolidation; that the Proposed Consolidation may not enable the Company to achieve or maintain compliance with applicable continued listing requirements; the Company's ability to continue as a going concern; its history of operating losses; its ability to generate positive cash flow; its ability to obtain additional financing if required; successful integration and operation of acquired businesses; changes in consumer demand; macroeconomic conditions affecting the recreational boating industry; inflation; interest rates; supplier performance and availability; supply-chain disruptions; tariffs and international trade policies; competition; and the successful development and commercialization of the Company's proprietary technology.

Additional information regarding these and other risks and uncertainties is contained in the Company's filings with the U.S. Securities and Exchange Commission, available on EDGAR, and with Canadian securities regulatory authorities, available on SEDAR+.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by applicable law, Vision Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this release.

SOURCE Vision Marine Technologies, Inc