Forward Industries expands operations on Solana with launch of SEC-registered tokenized FWDI shares and testing of Forward's PropAMM

Forward Industries, Inc. (NASDAQ:FWDI) (the "Company" or "Forward Industries"), the leading Solana treasury company, today issued an update on its treasury and recent operational highlights.

"We continue to execute on our strategy to actively scale our Solana treasury through disciplined deployment and on-chain yield generation," said Ryan Navi, Chief Investment Officer of Forward Industries. "Since initiating our Solana treasury strategy in September 2025, we have generated over 133,450 SOL in staking rewards and compounded our SOL-per-share. As we expand through partnerships like Superstate, we're able to participate in emerging use cases where real-world assets can function natively within DeFi, while continuing to leverage Solana's unmatched performance, liquidity, and economic activity to build a durable, income-generating treasury that creates long-term value for shareholders."

Recent Operational Highlights

• In December, the Company announced that its SEC-registered shares are live on the Solana blockchain through Superstate's Opening Bell platform, marking the first time a public company's equity can be used directly within decentralized finance (DeFi).
• In December, the Company also began testing its PropAMM on Solana, with support from Galaxy Digital and infrastructure input from Jump Crypto.

Forward Industries Treasury Update

• Treasury Holdings: As of January 15, 2026, the Company's liquid SOL holdings totaled over 6,979,967.46 SOL.
• Staking: Since inception, the Company's validator infrastructure has generated 6.73% gross annual percentage yield (APY) before fees, outperforming top peer validators. Nearly all of the Company's SOL holdings are currently staked.
• Balance Sheet: Forward Industries continues to maintain sufficient operating capital and has no corporate debt.

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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260115411518/en/

Media Contact

Carissa Felger / Sam Cohen

Gasthalter & Co.

(212) 257-4170

Forward@gasthalter.com

Investor Relations Contact

Sean Mansouri, CFA / Aaron D'Souza

Elevate IR

(720) 330-2829

ir@forwardindustries.com