Continues to Actively Execute Solana Treasury Strategy

Forward Industries, Inc. (NASDAQ: FWDI) (the "Company" or “Forward Industries”), the leading Solana treasury company, today announced its monthly treasury update as part of its ongoing commitment to transparency and shareholder engagement. As of November 15, 2025, the Company’s Solana (“SOL”) holdings totaled 6,910,568 SOL.

“Over the last month, we have executed upon a number of initiatives that have increased our SOL-per-share and driven meaningful shareholder value,” said Kyle Samani, Chairman of Forward Industries. “Through our responsible capital deployment program, institutional-grade validator infrastructure, and enhanced staking strategy, we are reinforcing the core economic engine that underpins our model and solidifying our position at the center of the Internet Capital Markets. With the support of Galaxy Digital, Jump Crypto, and Multicoin Capital, as well as our recently formed Crypto Advisory Board comprised of best-in-class operators, founders, and institutional leaders from across the digital assets landscape, we believe we are well-positioned for our next phase of growth.”

Forward Industries Treasury Update

• Treasury Holdings: As of November 15, 2025, the Company’s liquid SOL holdings totaled 6,910,568 SOL. Since inception, 6,834,505.96 SOL have been purchased at a net cost of $232.08 per SOL, representing a total cost of approximately $1.59 billion.
• Staking: Since inception, the Company’s validator infrastructure has achieved a 6.82% gross annual percentage yield (APY) before fees. Nearly all of the Company’s SOL holdings are currently staked.
• Tax Optimization: In the period between October 16, 2025 and November 15, 2025, Forward Industries reset $334 million in notional value and spent approximately $51,600 in value (net of fees) through tax loss harvesting operations which offsets future tax burdens and allows the Company to optimally continue increasing SOL-per-share and driving shareholder value.

Today’s treasury update follows the Company’s recent announcement of a new $1 billion share repurchase program, reflecting its confidence in both Forward Industries’ differentiated strategy and underlying strength of Solana’s ecosystem.

As of November 17, 2025, the Company has also transitioned its NASDAQ stock ticker from FORD to FWDI.

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FWDI) is a global design company serving top tier medical and technology companies. For over 60 years the company has been successful in developing and producing a portfolio of outstanding products for some of the world’s leading companies and brands. In September 2025, Forward Industries initiated a Solana treasury strategy dedicated to acquiring SOL and increasing SOL-per-share through bespoke strategies and active management of the company’s treasury. The Company’s Solana treasury strategy is supported by industry leading investors and operating partners, including Galaxy Digital, Jump Crypto, and Multicoin Capital. For more information on the Company’s Solana treasury strategy, visit sol.forwardindustries.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements relating to the Company’s plan for value creation and strategic advantages, market size and growth opportunities. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, failure to realize the anticipated benefits of the proposed digital asset treasury strategy (including the share repurchase program); changes in business, market, financial, political and regulatory conditions; risks relating to the Company’s operations and business, including the highly volatile nature of the price of Solana and other cryptocurrencies; the risk that the price of the Company’s common stock may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.

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