Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 7

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 7
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, and 5 are considered non-routine. A broker or other nominee cannot vote without instructions on non-routine
matters.

How Many Votes are Needed for Each Proposal to Pass and what is the effect of a Broker Non-Vote and Abstention?

| Proposals                                                     | Vote                                                                                                              
 Required                                                                                                          | Broker Discretionary Votes Allowed                             | Effect of Abstentions (1) |
| Election of Directors                                         | Plurality, which means that the three nominees receiving the highest number of affirmative votes will be elected. | No. However, broker non-votes have no effect on this proposal. | No effect.                |
| Ratification of Independent Registered Public Accounting Firm | Majority of the shares present in person or represented by proxy at the meeting and entitled to vote.             | Yes.                                                           | Same as a vote “Against.” |
| Approval of the Reincorporation                               | Majority of outstanding shares of common stock.                                                                   | No. Vote Against.                                              | Same as a vote “Against.” |
| Nasdaq 20% Issuance Proposal ELOC                             | Majority of the shares present in person or represented by proxy at the meeting and entitled to vote.             | No. However, broker non-votes have no effect on this proposal. | No effect.                |
| Nasdaq 20% Issuance Proposal - Series B                       | Majority of the shares present in person or represented by proxy at the meeting and entitled to vote.             | No. However, broker non-votes have no effect on this proposal. | No effect.                |
| Adjournment of the Annual Meeting                             | Majority of the shares present in person or represented by proxy at the meeting and entitled to vote.             | Yes.                                                           | Same as a vote “Against.” |

_________________

| (1) | “Withhold” for Proposal 1. If you “withhold” authority to vote with respect to one or more director nominees, your vote will have no effect on the election of such nominees. |

| 3 |

What Are the Voting Procedures?

In voting by proxy with regard
to the election of directors, you may vote in favor of all nominees, withhold your votes as to all nominees, or withhold your votes as
to specific nominees. With regard to the remaining proposals, you may vote in favor of each proposal or against each proposal, or in favor
of some proposals and against others, or you may abstain from voting on any of these proposals. You should specify your respective