Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 64

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 64
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Mer. Mr. KraMer is an executive officer of one of the Company’s wholly-owned subsidiaries.                                  |

| (6) | Hrynkow. Dr. Hrynkow is a director. Includes 20,390                                                                                                 
 vested stock options.                                                                                                                               |
| (7) | Shah. Ms. Shah is a director. Includes 25,233 vested stock options and shares of common stock owned by an entity which she and her husband control. |

| (8) | Johnson. Mr. Johnson is a director. |

| (9) | Forward China. Mr. Terence Wise is a former officer and director of the Company and is a principal of Forward Industries (Asia-Pacific) Corporation. |

| (10) | Yu. Address is 9255 Doheny Rd., Apartment 2905, West Hollywood, California, 90069. |

| 48 |

<div align='center'>OTHER MATTERS</div>

While the Company has no knowledge
of any other matters that may come before the Annual Meeting and does not intend to present any other matters, if any other matters shall
properly come before the Annual Meeting or any adjournment thereof, the proxy holders will have discretionary authority to vote on such
matters in accordance with their best judgment, to the extent permitted by applicable law.

If you do not plan to attend the
Annual Meeting, in order that your shares may be represented and in order to assure the required quorum, please sign, date and return
your proxy promptly. In the event you are able to attend the Annual Meeting, at your request, the Company will cancel your previously
submitted proxy.

| 49 |

<div align='center'>FORWARD INDUSTRIES, INC.

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

ANNUAL MEETING OF SHAREHOLDERS – AUGUST 8, 2025
AT 10:00 AM</div>

| VOTING INSTRUCTIONS                                                   |           |                                                                                                                                                                                                                                                                                                                                                                                                          |
| If you vote by phone or internet, please DO NOT mail your proxy card. |           |                                                                                                                                                                                                                                                                                                                                                                                                          |
|                                                                       | MAIL:     | Please mark, sign, date, and return this Proxy Card promptly using the enclosed envelope.                                                                                                                                                                                                                                                                                                                |
|                                                                       | PHONE:    | Call 1 (800) 690-6903                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                       | INTERNET: | https://www.proxyvote.com                                                                                                                                                                                                                                                                                                                                                                                |