THIS IS AN ANNOUNCEMENT UNDER RULE 2.8 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2022 (THE “IRISH TAKEOVER RULES”). 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

AUSTIN, TX, July 21, 2026 (GLOBE NEWSWIRE) -- Forward Industries, Inc. (NASDAQ: FWDI) (“Forward”) confirms that it does not intend to make an offer for the Company.

This announcement is intended to be treated as a statement to which Rule 2.8 of the Irish Takeover Rules applies and, accordingly, Forward and any person acting in concert with it will be bound by the restrictions set out in Rule 2.8 of the Irish Takeover Rules.

Forward reserves (on behalf of Forward and its concert parties) the right to set aside this announcement within the next six months where so permitted under Rule 2.8 (including Rule 2.8(c)(ii)) of the Irish Takeover Rules.

Media Contact
comms@forwardindustries.com

Investor Relations

Elevate IR
ir@forwardindustries.com

Important Notices

Responsibility Statement

The directors of Forward accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Publication on Website

In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this announcement will be available on Forward Industries, Inc.’s website at www.forwardindustries.com by no later than 12 noon (New York time) on the business day following publication of this announcement. The content of the website referred to in this announcement is not incorporated into, and does not form part of, this announcement.

No offer or solicitation

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise. The release, publication or distribution of this announcement in whole or in part in, into or from any jurisdiction may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.