Lakeview Announces Intent to Withhold Support for Directors of Forward Air Corp. at Annual Meeting

Calls for Acceleration of Strategic Review to Capitalize on Interest Among Private Equity Suitors

Views Value-Maximizing Sale as Best Outcome for Shareholders

Lakeview Investment Group & Trading Company, LLC (together with its affiliates, “Lakeview”), a meaningful shareholder of Forward Air Corp. (NASDAQ: FWRD) (“Forward Air” or the “Company”), is announcing its plans to withhold support for three incumbents at the Company’s 2025 annual meeting of shareholders: George Mayes, Jr. (chairman), Javier Polit (director) and Laurie Tucker (director). Lakeview agrees with the conclusions reached by other investors and the two leading proxy advisory firms, which affirmed there is a need to remove long-standing directors with histories of voting for value-destructive acquisitions. In addition, Lakeview urges the board of directors to avoid further investor unrest by carrying out an accelerated strategic review that results in a sale at a meaningful premium.

About Lakeview Investment Group

Lakeview Investment Group & Trading Company, LLC is a Chicago-based investment manager founded in 2004 with a focus on small- and mid-cap companies. Lakeview’s strategy focuses primarily on long-term investments in companies trading at significant discounts to intrinsic value. On select occasions, Lakeview engages directly with company leadership to help drive shareholder value.

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