Fully Integrated 30-foot Electric Pontoon Platform Designed for Commercial and Recreational Markets Showcases Commitment to Innovation and Sustainability

GARLAND,Texas,Dec. 2,2024 -- Massimo Group (NASDAQ: MAMO) ("Massimo"),a manufacturer and distributor of powersports vehicles and pontoon boats,today announced the Company's marine division,Massimo Marine,entered into a partnership with Vision Marine Technologies Inc (Nasdaq: VMAR) ("Vision Marine"),a pioneer in electric marine propulsion. This collaboration will produce a fully integrated 30-foot electric pontoon platform designed for commercial and recreational markets. As part of Vision Marine's strategic shift to offer complete electric boats directly to consumers,this partnership is expected to be a key step in rapidly delivering high-quality electric marine products to market. As part of the agreement,Massimo Marine will supply pontoon boats to be equipped with Vision Marine's E-Motion™ 180E Powertrain System,a complete turnkey electric powertrain solution.

The U.S. pontoon boat market is a growing one,reaching sales of 115,000 units in 2023,a 5% increase over 20221,reflecting robust demand for versatile and family-friendly watercraft. Vision Marine brings extensive expertise to this partnership with years of experience successfully integrating electric propulsion systems into multiple boat designs. This knowledge ensures that the new electric pontoon platform will meet the highest standards of performance,efficiency,and reliability for both recreational and commercial use.

"This product is the result of years of requests from nautical bases and operators who have been asking for a reliable,turn-key electric solution," said Alexandre Mongeon,CEO of Vision Marine. "With this partnership,we aim to bridge the gap efficiently,delivering what the industry has long demanded. By combining our world-record-breaking,third party-tested technology with Massimo Marine's manufacturing capabilities,we're creating a solution that we believe is as dependable as it is innovative."

Massimo Marine's advanced production facilities in Garland,is expected to play a pivotal role in delivering these electric pontoons to market efficiently and at scale," added David Shan,CEO of Massimo Group. "We're proud to be partnering with Vision Marine's innovative propulsion solution in bringing truly efficient electric propulsion systems to the commercial and recreational space. This collaboration showcases our shared commitment to innovation and sustainability,providing customers with high-performance electric pontoons through Vision Marine's factory-direct distribution along with our networks."

By offering a turn-key product through Vision Marine's direct-to-consumer approach and Massimo Marine's extensive distribution network,Massimo and Vision Marine believe that this partnership will greatly enhance accessibility to electric boating solutions.

This collaboration is more than a production partnership— Massimo and Vision Marine believe that it's a leap toward transforming the marine industry. By addressing the growing demand for zero-emission solutions and offering eligibility for grants and incentives at city,state,and federal levels,this electric pontoon platform can position itself as a cornerstone in sustainable marine transportation.

1) https://pontoonboatguy.com/

About Vision Marine Technologies Inc.

Vision Marine Technologies Inc. (NASDAQ: VMAR) is a pioneer in electric boating,recognized for its innovative E-Motion™ Electric Marine Powertrain Technology that offers a superior,zero-emission boating experience. With proprietary,turn-key electric solutions,Vision Marine combines cutting-edge technology,high-performance propulsion,and eco-friendly systems. The company has broken multiple electric world speed records,showcasing its commitment to pushing the boundaries of performance. Vision Marine is leading the transformation of the marine industry with unmatched power and efficiency for a cleaner future on the water. For more information,visit visionmarinetechnologies.com.

AboutMassimo Marine

Massimo Marine,a subsidiary of Massimo Group (NASDAQ: MAMO),was established in Garland,in 2020. Massimo Marine manufactures and sells Luxury Pontoon and Tritoon boats. Massimo Marine is dedicated to innovative design,quality craftsmanship,and great customer services. Massimo Marine is changing the game in the pontoon,and tritoon world when it comes to innovation and features,all of which have helped make Massimo Marine a growing player in the industry. Every year,Massimo Marine introduces new features,designs,and standard options for its boats that it believes sets it apart,while always ensuring it offers its customers pricing advantages that will allow them to have the best boating experience possible.

About Massimo Group

Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats. Founded in 2009,Massimo Motor believes it offers some of the most value packed UTV's,off-road,and on-road vehicles in the industry. The company's product lines include a wide selection of farm and ranch tested utility UTVs,recreational ATVs,and Americana style mini-bikes. Founded in 2020,Massimo Marine manufacturers and sells Pontoon and Tritoon boats with a dedication to innovative design,and great customer service. Massimo Group is also developing electric versions of UTVs,golf-carts and pontoon boats. The company's 376,000 square foot factory is in the heart of the Dallas / Fort Worth area of Texas in the city of Garland. For more information,visit massimomotor.com and massimomarine.com.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the use of proceeds thereof. In some cases,you can identify forward-looking statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "predict," "project," "target," "potential," "seek," "will," "would," "could," "should," "continue," "contemplate," "plan," and other words and terms of similar meaning. These forward-looking statements include information concerning statements regarding future cash needs,future operations,market positions,business plans and future financial results; and any other statements that are not historical facts. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions,many of which are beyond the control of Massimo,including those set forth in the "Risk Factors" section of Massimo's Annual Report on Form 10-K for the year ended December 31,2023,as updated by Massimo's subsequent filings,with the SEC. Copies are available on the SEC's website,www.sec.gov. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release,except as required by law.

Contact Information

Vision Marine Technologies Inc.

Bruce Nurse

303-919-2913

bn@v-mti.com

Massimo Group

Dr. Yunhao Chen

Chief Financial Officer

Massimo Group

ir@massimomotor.com

Massimo Group Investor Relations

Chris Tyson

Executive Vice President

MZ North America

Direct: 949-491-8235

MAMO@mzgroup.us