Company: FWDI
Filing Date: 2025-08-06
Form Type: PRE 14A
Source: 0001683168-25-005714
Chunk: 16

Company: Forward Industries, Inc.
Filing Date: 2025-08-06
Form: PRE 14A
Chunk 16
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/FWD2025SM, 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, Proposal 2, and Proposal 3. If any other business is presented at the meeting, this proxy will be voted by the above-named proxies at the direction of the Board of Directors. At the present time, the Board of Directors knows of no other business to be presented at the meeting.

Proposal:

| 1. To approve an amendment to Forward’s Certificate of Incorporation to increase the number of authorized shares of the Company’s common stock from 40,000,000 to 300,000,000 shares.                                                                                                                               |     | FOR ¨                           
 AGAINST ¨    ABSTAIN ¨          |
| 2. To approve, for purposes of complying with Nasdaq Listing Rule 5635, the issuance of shares of Forward’s common stock pursuant to the conversion of Series A-1 Preferred Stock without giving effect to the Share Cap or the Individual Holder Share Cap contained in the Series A-1 Certificate of Designation. |     | FOR ¨    AGAINST ¨    ABSTAIN ¨ |
| 3. To approve one or more adjournments of the Special Meeting, if necessary or appropriate, to solicit additional proxies if there are not sufficient votes at the time of the Special Meeting to approve any of the proposals presented for a vote at the Special Meeting.                                         |     | FOR ¨    AGAINST ¨    ABSTAIN ¨ |

Control ID:

Proxy ID:

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| 14 |

Annex A

<div align='center'>Proposed Amendment to the Certificate/Articles of Incorporation</div>

Paragraph THIRD relating to the Company’s
stock is amended to increase the number of shares of common stock the Company shall have the authority to issue from 40,000,000 shares
of common stock with a par value of $0.01 to 300,000,000 shares of common stock with a par value of $0.01. Paragraph THIRD is hereby amended
to read in its entirety as follows:

THIRD: The aggregate number of shares which
the Corporation shall have authority to issue is three hundred and four million (304,000,000), $.01 par value per share, of which four
million (4,000,000) shall be designated as “preferred stock” and three