The world’s largest Solana treasury company reaffirms its long-term conviction in Solana

Forward Industries, Inc. (NASDAQ: FORD) (the "Company" or “Forward Industries”), a leading Solana treasury company, today announced an update regarding its resale registration process and the recent volatility across the broader digital asset market.

On October 10, 2025, Forward Industries entered into a Waiver and Consent with a majority of shareholders holding then-outstanding registerable securities. The agreement extends the deadline to file the initial resale registration statement with the Securities and Exchange Commission by 30 days. The Company requested this extension in response to overall market conditions, including volatility in Solana and the broader digital asset market. By extending the filing, Forward Industries seeks an orderly process for share registration and to preserve value for shareholders.

“The recent volatility across digital assets underscores why discipline and an experienced management team matter,” said Kyle Samani, Chairman of the Board of Directors for Forward Industries. “We remain fully committed to our Solana strategy and believe this brief procedural extension positions the Company to register shares under more constructive market conditions while continuing to execute our long term plan.”

Market Update and Reaffirming Long-Term Conviction in Solana

Solana, along with most major digital assets, experienced a draw down on October 10, 2025, before recovering over the weekend trading session. Despite the sudden pressure from fast-changing geopolitical factors, the Solana network continued to demonstrate strength, sustained throughput capacity, and continuous activity, key foundations underpinning Forward Industries’ conviction in Solana’s long-term value.

Solana processed more than 66 million transactions on October 10, surpassing 3,000 transactions per second at points, while maintaining uninterrupted uptime and low transaction fees. In comparison, the Ethereum network handled approximately 1.63 million transactions during the same day, with throughput averaging as much as 20 transactions per second on Ethereum Layer 1 and 240 transactions per second when Layer 2s are included. Solana’s perpetual markets recorded their highest single-day trading activity ever, with $4.5 billion in notional volume transacted. Even under this heightened market volatility, Solana’s performance highlighted the efficiency of its high-throughput architecture. Transaction fees on Solana remained just fractions of a penny, while Ethereum’s median transaction fee was as high as $100.

These dynamics highlight not only Solana’s superior capacity and cost efficiency, but also its operational stability in volatile environments. The network’s performance is a direct result of improvements implemented by core developers over the past year. They are a reflection of Solana’s guiding principle to continually increase bandwidth, reduce latency (IBRL), and indicative of future performance enhancements that will be released in the coming year. This sustained performance reinforces the Company’s belief that Solana is uniquely positioned to accommodate and upgrade the $500 trillion global securities market and usher in the era of Internet Capital Markets.

To that end, Forward Industries remains committed to growing and scaling its Solana digital asset treasury strategy by:

- Acquiring SOL tokens and growing SOL per share

- Generating cash flow through staking and DeFi

- Pursuing accretive partnerships and acquisitions in the Solana ecosystem

“Solana’s sustained activity, developer adoption and thoughtful leadership, even during volatility markets, reaffirms our core thesis.” Mr. Samani said. “Forward Industries is building long-term value on the most resilient and scalable blockchain in operation today, one we believe is best positioned to sustain the Internet Capital Market of the future.”

To learn more about Forward Industries' Solana treasury strategy, please visit sol.forwardindustries.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of Forward Industries’ securities, nor shall there be any sale of Forward Industries’ securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FORD) 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 transactions and the proposed digital asset treasury strategy; 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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