Slide 1: Forward Industries, Inc. – Moving Solana Forward
NASDAQ: FWDI Forward Industries, Inc. Moving Solana Forward Q2 2026 Earnings Call May 2026
Slide 2: Disclaimer
Disclaimer This document, and the information contained herein, has been provided to you by Forward Industries, Inc. (“Forward Industries”) solely for informational purposes. This document may not be reproduced or redistributed in whole or in part, in any format, without the express written approval
Slide 3: Executive Summary: The World's Leading SOL Treasury Company
FORWARD INDUSTRIES, INC. EXECUTIVE SUMMARY The World's Leading SOL Treasury Company by 4x[1] NASDAQ: FWDI 7.0M+ SOL[2] 44%+[3] .0789[4] More SOL than next 3 largest Annualized SOL/sh Growth SOL per ITM share SOL DATs combined on an ITM share basis 1 AS MEASURED BY TOTAL SOL HELD AS OF MARCH 31ST,
Slide 4: Solana Ecosystem Growth
FORWARD INDUSTRIES, INC. SOLANA NETWORK Solana Ecosystem Growth NASDAQ: FWDI $1.1T [1] 3.25M [2] 10,800+ [3] $3.8B [4] 8x YoY [5] Network Activity Daily Active Users Active Developers Daily DEX Volume Payments Volume Growth Ondo Global Markets: Access SEC approves Nasdaq Firedancer validator client
Slide 5: Forward Q2 Highlights
FORWARD INDUSTRIES, INC. EXECUTIVE SUMMARY Forward Q2 Highlights NASDAQ: FWDI Adds USD-denominated, non-correlated revenue stream as a Solana-native reinsurance Over 6.9M SOL staked to Forward’s validator — protocol. 8th largest in the Solana network by 6.9M+ shares of FWDI tokenized on Solana via s
Slide 6: Accelerating SOL per Share Growth
FORWARD INDUSTRIES, INC. TREASURY PERFORMANCE Accelerating SOL per Share Growth NASDAQ: FWDI 7.0M+ SOL[2] ~7.0% 200K+[3] SOL Holdings Native Staking Yield Cumulative Staking Rewards (APY range) 25.1% .0789[4] ~44%[5] SOL Held as fwdSOL SOL per ITM Share Annualized SOL/sh Growth 1 ALL METRICS AS OF
Slide 7: Capitalization Table as of March 31, 2026
FORWARD INDUSTRIES, INC. Capitalization Table as of March 31, 2026 Net Asset Value Calculation Quantity Price Value $ Total SOL Treasury 7,044,079 $83.1210 $585,503,885 Other Digital Assets[12] 30,081,000 Various $11,703,000 Cash & Cash Equivalents 16,633,010 $1.00 $16,633,010 Institutional Debt
Slide 8: Three Strategic Transactions
FORWARD INDUSTRIES, INC. KEY TRANSACTIONS Three Strategic Transactions NASDAQ: FWDI 01. Galaxy Digital Facility 02. Strategic Repurchases 03. OnRe Investment ▪ $40M facility @ 3.4% weighted ▪ 6,164,324 share block repurchased ▪ Co-led $5M Series A at $25M average interest rate at $4.44 valuation wit
Slide 9: Focus Areas
FORWARD INDUSTRIES, INC. LOOKING AHEAD Focus Areas NASDAQ: FWDI 01. Optimize Capital Structure Leverage advantageous access to capital — through Galaxy and new potential partnerships — to lower cost of capital and accelerate SOL/share compounding. 02. Strategic Transactions Identify and execute on M
Slide 10: Q2 FY26 Financial Results
FORWARD INDUSTRIES, INC. FINANCIAL RESULTS Q2 FY26 Financial Results (Q2 FY26)[1] NASDAQ: FWDI $13.0M[2] 70.0% $6.6M[3] $16.6M[4] Net Revenue Gross Margin SG&A Cash Position (4.2x YoY growth) (vs. (5.7)% in 2025 Quarter) (vs $7.2M Q1 FY26) 1 CONTINUING OPERATIONS ONLY. EXCLUDES DESIGN SEGMENT DISC
Slide 11: Reducing Average Quarterly SG&A to $4.8M
FORWARD INDUSTRIES, INC. SG&A WATERFALL ESTIMATE (EX-SBC) Reducing Average Quarterly SG&A to $4.8M NASDAQ: FWDI $8M $7.2M +$0.4M +$0.1M $6M Corporate Personnel $5.8M ($0.9M) Prof Fees ($0.6M) AM Fees ($0.4M) Mktg & IR ($0.1M) Other $4.4M Avg $4.8M Run Rate [6] ($1.1M) $4M ($0.2M) ($0.1M) Prof Fees[2
Slide 12: Key Regulatory Updates in CYQ1 2026
FORWARD INDUSTRIES, INC. REGULATORY UPDATES Key Regulatory Updates in CYQ1 2026 NASDAQ: FWDI 01. SEC/CFTC MOU 02. Interpretive Release 03. CLARITY Act ▪ Executed March 11, 2026 ▪ Issued March 17, 2026 ▪ House passed July 2025 ▪ Formal coordination framework ▪ Five-category digital asset ▪ Under Sena
Slide 13: Q&A – Thank You
THANK YOU! Forward Industries, Inc. Q&A forwardindustries.com ir@forwardindustries.com