Statement of no intention to make an offer for Brera Holdings plc (the “Company”)

Forward Industries, Inc. (NASDAQ: FWDI) confirms that it does not intend to make an offer for Brera Holdings plc. 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 the right to set aside this announcement within the next six months where so permitted under Rule 2.8 of the Irish Takeover Rules.