Fresh water conducts electricity, though not very well.
I would expect that a 300 volt battery immeresed in fresh water would discharge relatively slowly.
The voltage gradient around the battery would probably be dangerous to anyone in the water if they were very close to the batttery. The human body is a better conductor than fresh water, therefore a fair bit of current could flow the body, perhaps with fatal results.
A lot would depend on the terminal layout and spacing.
Sea water is a much better conductor than fresh, and perhaps suprisingly this should reduce the risks to anyone in the water.
A much greater current would flow through the salt water, thereby discharging the battery very rapidly, perhaps before anyone got dangerously close.
Such a rapid discharge might tend to overheat the battery, but the water would probably keep it cool.
Also the sea water is a better conductor than the human body, and therefore might shunt or bypass most of the current around, rather than through the person.
If fresh or salt water entered the sealed battery cells than an explosion is likely since lithium reacts vigouresly with water to produce hydrogen, which is flammable. The cells are however well sealed and are designed to withstand impact and water immersion.