On May 14, 2021, Robert Ghetti resigned as a director of Vision Marine Technologies Inc. Mr. Ghetti had been a member of the Compensation Committee of Board of Directors and of Nominating Committee. On May 14, 2021, Alexandre Mongeon resigned as the Chairman of Board of Directors, but he has retained his appointment as a director of company. On May 14, 2021, Alan Gaines as appointed as a director of company. Mr. Gaines will serve as the Chairman of company Board of Directors. Mr. Gaines is an experienced investment banker and entrepreneur, active within traditional renewable/sustainable CleanTech, general technology, EV/CEV battery technology/chemistry, energy storage and infrastructure, as well as traditional fossil fuels. Mr. Gaines specializes in large scale capital formation, M&A, recapitalization/restructuring, and Board protocol and governance. Mr. Gaines currently serves as a Director of Auto Innovation Group Ltd. and David Brown Automotive Ltd., both based in the United Kingdom.