Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 67

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 67
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, attorney, 
 trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate name by duly authorized       
 officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person.                         
 Dated: ________________________, 2025                                                                                                         |
| (Print Name of Shareholder and/or Joint Tenant)                                                                                               |
| (Signature of Shareholder)                                                                                                                    |
| (Second Signature if held jointly)                                                                                                            |

| 52 |

The shareholder(s) hereby appoints Michael Pruittand Kathleen Weisberg, or either of them, as proxies, each with the power to appoint their substitute, and hereby authorizes
them to represent and to vote, as designated on the reverse side of this ballot, all of the shares of voting stock of FORWARD INDUSTRIES,
INC. that the shareholder(s) is/are entitled to vote at the Annual Meeting of Shareholder to be held on August 8, 2025 at 10:00 a.m. Eastern
Time virtually via live webcast at www.virtualshareholdermeeting.com/FWD2025, and any adjournment or postponement thereof.

This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted “FOR” Proposal 1 and “FOR” Proposal 2.

Proposal:

| 1. Pursuant to Proposal 3 in the Proxy Statement, to consider and vote upon the proposal to change the Company’s state of incorporation from New York to Nevada by means of a merger of the Company with and into a wholly-owned Nevada subsidiary.                                                                     | FOR ¨    AGAINST ¨    ABSTAIN ¨ |
| 2. Pursuant to Proposal 6 in the Proxy Statement, to approve one or more adjournments of the Annual Meeting, if necessary or appropriate, to solicit additional proxies if there are not sufficient votes at the time of the Annual Meeting to approve any of the proposals presented for a vote at the Annual Meeting. | FOR ¨    AGAINST ¨    ABSTAIN ¨ |

Control ID:

Proxy ID:

Password:

| 53 |

Annex A

<div align='center'>Merger Agreement

AGREEMENT AND PLAN OF MERGER</div>

AGREEMENT AND PLAN OF MERGER
approved on June ___, 2025, by Forward Industries, Inc., a business corporation organized under the laws of the State of New York, and