Platform Integration / Operational Execution

One year after acquiring Nautical Ventures, Vision Marine has advanced a broader marine platform combining premium retail distribution, marina operations, service infrastructure, OEM relationships and proprietary electric propulsion capabilities. The Company's latest disclosed financial and operating information through February 28, 2026, reflects measurable progress in floor-plan reduction, inventory discipline, real estate optimization and platform integration, while the Company continues to address liquidity, profitability and market-related challenges common to the recreational marine industry.

BOISBRIAND, QC and FORT LAUDERDALE, Fla., June 16, 2026 /PRNewswire/ -- Vision Marine Technologies Inc. ((NASDAQ:VMAR, TSXV:VMAR), (NASDAQ:VMAR, TSXV:VMAR)) ("Vision Marine" or the "Company"), a marine technology company and vertically integrated recreational boating platform, today provided an update on the Company's operational and strategic progress during the first year following its acquisition of Nautical Ventures Group Inc. ("Nautical Ventures"), completed on June 20, 2025.

Since the acquisition, Vision Marine has focused on disciplined execution across four core priorities: reducing financing exposure, improving liquidity, optimizing inventory and building a scalable marine platform that connects premium retail, marina operations, service infrastructure and Vision Marine's E-Motion™ high-voltage electric propulsion technology.

Unless otherwise indicated, all financial and operating metrics presented in this release are based on the Company's publicly disclosed results and operating information up to February 28, 2026.

Execution Since Acquisition

From June 20, 2025, to February 28, 2026, Vision Marine advanced Nautical Ventures from acquisition integration toward a more disciplined operating platform. During this period, Nautical Ventures floor-plan financing was reduced from US$42.0 million at acquisition to US$18.2 million as of February 28, 2026, representing a 57% reduction. Management believes this reduction improved operating flexibility, reduced financing exposure and supported the Company's broader balance sheet improvement strategy.

Inventory in the Nautical Ventures segment dropped from US$35.1 million at acquisition to US$24.5 million as of February 28, 2026, representing a 30% reduction. This comparison reflects the Company's continued focus on inventory quality, product mix, working capital discipline and alignment with customer demand across key marine categories.

The Company also advanced real estate and asset optimization initiatives during the period. Vision Marine previously disclosed the monetization of selected North Palm Beach real estate assets, generating US$3.8 million in net proceeds, with proceeds reinvested into operations and floor-plan debt reduction. The Company also previously disclosed that its proceeds receivable related to certain Nautical Ventures real estate was reduced from US$10.4 million as of June 20, 2025, to US$6.6 million following the sale of the two North Palm Beach properties.

Operationally, Vision Marine completed important integration work across management, reporting and operating systems. This included the transition of Nautical Ventures financial reporting from U.S. GAAP to IFRS, alignment of reporting processes, and the integration of Vision Marine products, technology and service initiatives into the Nautical Ventures platform.

Measurable Platform Progress

Between June 20, 2025, and February 28, 2026, the Company's integration work was focused on capital efficiency, inventory discipline and operating alignment. Key measurable areas include:

  • Floor-plan financing reduction: US$42.0 million to US$18.2 million

     
  • Nautical Ventures Inventory optimization: US$35.1 million to US$24.5 million
  • Real estate proceeds generated: US$3.8 million

     
  • Proceeds receivable reduction: US$10.4 million to US$6.6 million

     
  • Estimated annualized savings from real estate and footprint optimization: approximately US$ 2.8 million

     
  • Nautical Ventures locations: 6 Florida-based locations

     
  • Consolidated inventory and deposits to suppliers as of February 28, 2026: US$32.9 million

     
  • Unencumbered inventory in the Vision Marine segment ready for sale or integration as of February 28, 2026: US$5.7 million

While management believes these initiatives have strengthened the Company's operating platform, Vision Marine continues to face challenges associated with liquidity management, financing requirements, inventory turnover, integration of acquired operations and broader recreational marine market conditions. The Company continues to implement cost reduction initiatives and operational efficiencies designed to improve long-term financial performance.

Commercial Performance

From June 20, 2025, to February 28, 2026, Nautical Ventures generated gross retail sales of approximately US$42.5 million across 469 total units sold, including 283 boats, 98 outboards and 88 trailers. During the same period, the Company's electric product division contributed 15 electric boat sales representing approximately US$0.5 million in sales value, while its water toys division generated approximately US$1.5 million in additional sales value.

The Company notes that sales activity occurred during a period of continued integration, inventory optimization and balance sheet restructuring. For the six months ended February 28, 2026, Vision Marine reported consolidated revenue of US$30.2 million, gross profit of US$8.6 million and a net loss before taxes of US$6.2 million. The Company also reported an EBITDA loss of US$4.5 million during the period.

Management believes that while profitability remains a key area of focus, the reduction of floor-plan financing, inventory optimization initiatives and ongoing operating efficiency measures have positioned the Company to continue improving its operating performance.

Nautical Ventures as a Platform for Market Access

Nautical Ventures has become a central part of Vision Marine's operating strategy. The platform provides premium brand representation, dealership operations, marina access, factory-authorized service, parts and accessories, financing and insurance capabilities, after-sales support and on-water demonstration opportunities.

Management believes this infrastructure gives Vision Marine a practical commercial channel for introducing new products and technologies through established customer relationships and service infrastructure. Rather than operating solely as an electric propulsion developer, Vision Marine now combines proprietary marine technology with retail distribution, service capacity and direct customer engagement through an established Florida marine platform.

This structure is particularly relevant for electric marine adoption, where customer education, product demonstrations, installation expertise, service readiness and dealer support are important to commercialization. Through Nautical Ventures, Vision Marine is building customer access and infrastructure designed to support electric marine technologies where they improve the boating experience, while continuing to serve today's premium recreational boating market across propulsion types.

A More Complete Marine Platform

Today, Vision Marine's operating model combines premium boat retail, marina operations, factory-authorized service, parts and accessories, financing and insurance, high-voltage electric marine expertise, electric recreational products, customer support infrastructure, strategic OEM relationships and proprietary electric propulsion technology.

Management believes this integrated structure provides a differentiated foundation across both traditional and electric boating markets. It also gives Vision Marine a direct feedback loop from customers, service teams, marina operations and OEM partners, helping the Company align technology development with real-world boating demand.