Former ParaFi Managing Director, KKR Principal to Lead Execution of Largest Solana Treasury Strategy

Forward Industries, Inc. (NASDAQ:FWDI) (the "Company" or "Forward"), the leading Solana treasury company, today announced that Ryan Navi has joined the Company as Chief Investment Officer, effective immediately. In this role, Mr. Navi will oversee the execution of Forward's Solana treasury strategy, including sourcing and structuring opportunities across capital markets and leveraging the Company's leading staking and validator infrastructure to increase SOL-per-share and drive long-term shareholder value.

Mr. Navi was most recently the Managing Director and Head of Venture of digital asset management firm ParaFi Capital, where he led the firm's digital-asset investment activities across early and growth stage opportunities in core blockchain infrastructure and next-generation blockchain applications. Prior to ParaFi Capital, he spent six years at KKR as a Principal, investing up and down the capital structure, predominantly focused on liquid and distressed credit strategies. Mr. Navi began his career working in M&A investment banking at Citi.

"We are thrilled to welcome an investment executive of Ryan's caliber to Forward," said Kyle Samani, Chairman of Forward Industries. "I have come to know Ryan well over the years and have always admired his deep understanding of the Solana ecosystem, as well as his disciplined and rigorous investment approach. Ryan's vision for both Solana and capital markets more broadly aligns with Forward's mission to build the largest, most active and value-generative public markets Solana treasury company. We are highly confident that Ryan's extensive experience and impressive track record will help Forward continue to grow, innovate, and deliver enduring value to shareholders."

"I am honored to have the opportunity to lead the most exciting digital asset treasury company in the market," said Mr. Navi. "Since launching its Solana treasury strategy, Forward has established itself at the center of Internet Capital Markets through a disciplined accumulation strategy, best-in-class validator operations, and an unwavering commitment to pursuing innovative yield opportunities. As Solana becomes an increasingly critical layer for global capital markets, I believe Forward's leadership position within the ecosystem will compound over time and look forward to executing on the attractive opportunities ahead."

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251201495689/en/

Media

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

Forward Industries Appoints Ryan Navi as Chief Investment Officer