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

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 10
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 at the Annual Meeting.

Our directors and executive officers
may have interests in the Nevada Reincorporation transaction that are different from, or in addition to, the interests of the shareholders
generally, which may present actual or potential conflicts of interest. For example, the Nevada Reincorporation provides our officers
and directors more clarity and certainty in the reduction of their potential personal liability and strengthens the ability of directors
to resist coercive and inadequate takeover bids. The Board has considered these interests, among other matters, in reaching its decision
to approve the Nevada Reincorporation and to recommend that our shareholders vote in favor of this proposal.

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<div align='center'>YOUR VOTE IS IMPORTANT</div>

Please vote your proxy promptly
so your shares can be represented, even if you plan to attend the virtual Annual Meeting. You can vote by Internet, by telephone, or by
using the enclosed proxy card.

Our proxy tabulator, Broadridge
Financial Solutions, must receive any proxy that will not be voted at the Annual Meeting by 11:59 p.m. Eastern Time on August 7, 2025.

The Board unanimously recommends that shareholders vote “ For” the election to the Board of each of the nominees in Proposal 1, and “ For” Proposals 2, 3, 4, 5 and 6.

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<div align='center'>PROPOSAL 1. ELECTION OF DIRECTORS</div>

Forward’s shareholders elect
the Board members annually, and all of our current directors were elected by our shareholders to serve for a term expiring at this Annual
Meeting, except Mr. Keith Johnson was appointed by the Board to fill a vacancy created by the resignation of Mr. Terence Wise on May 16,
2025.

The Board proposes and recommends
the election of the following nominees as directors:

Sangita Shah

Sharon Hrynkow

Keith Johnson

All of the nominees listed above
have agreed to serve if elected. The three persons who receive the most votes cast will be elected and will serve as directors until the
next Annual Meeting. If a nominee becomes unavailable for election before this Annual Meeting, the Board can name a substitute nominee
and proxies will be voted for such substitute nominee unless an instruction to the contrary is written on the proxy card. Furthermore,
we may appoint an additional person to our Board before the Annual Meeting. The principal occupation and certain other information about
the nominees and our executive officers are set forth