Company: FWDI
Filing Date: 2025-08-06
Form Type: PRE 14A
Source: 0001683168-25-005714
Chunk: 3

Company: Forward Industries, Inc.
Filing Date: 2025-08-06
Form: PRE 14A
Chunk 3
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 OF SHAREHOLDERS

PROXY STATEMENT</div>

Why am I receiving these materials?

These proxy materials are
being sent to the holders of shares of the voting stock of Forward Industries, Inc., which we refer to as “Forward” or the
“Company,” in connection with the solicitation of proxies by our Board of Directors, which we refer to as the “Board,”
for use at the Special Meeting of Shareholders to be held on September 4, 2025 at 10:00 a.m. Eastern Time. The Special Meeting will be
a completely virtual meeting of shareholders conducted via live audio webcast to enable our shareholders to participate from any location
around the world that is convenient to them. You will be able to attend the Special Meeting by visiting www.virtualshareholdermeeting.com/FWD2025SM.
The proxy materials relating to the Special Meeting are first being mailed to shareholders entitled to vote at the meeting on or about
August 15, 2025.

What is the Purpose of the Special Meeting?

The Board is soliciting your proxy for use at
our Special meeting as you are entitled to vote on the following proposals:

| 1. | To approve an amendment to the Company’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. |
| 2. | To approve, for purposes of complying with Nasdaq Listing Rule 5635,                                                                                                                   
 the issuance of shares of the Company’s common stock pursuant to the conversion of Series A-1 without giving effect to the Conversion                                                  
 Caps contained in the Series A-1 Certificate of Designation.                                                                                                                           |
| 3. | To approve an adjournment of the Special Meeting to a later date or                                                                                                                    
 time, if necessary, to permit further solicitation and vote of 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.                                                                                                           |

Can I attend the Special Meeting in person?

This Special Meeting will
be held exclusively online, with no option to attend in person. If you plan to attend the virtual meeting, you will need to visit www.virtualshareholdermeeting.com/FWD2025SM
and use your 16-digit control number provided on the proxy card to log into the meeting. We encourage shareholders to log in to the website
and access the webcast early, beginning approximately