Strictly Confidential

August 25, 2025

Board of Directors

Forian Inc.

41 University Drive, Suite 400

Newtown, Pennsylvania, 18940

Dear Members of the Board of Directors:

We are pleased to submit this non-binding proposal to acquire all of the outstanding shares of common stock of Forian Inc. (“Forian” or the “Company”) that we do not currently own (the “Transaction”) for $2.10 per share in cash (the “Offer Price”). We are a consortium, led by Max Wygod, the CEO and Executive Chair of the Company, together with the entities and individuals set forth on Exhibit A hereto. In the aggregate, presently our consortium, including inside directors, Adam Dublin and Shahir Kassam-Adams, represents a majority of the Company’s outstanding shares, based on the aggregate number of shares of the Company’s common stock reported on the Company’s most recently filed report on Form 10-Q.

We firmly believe that our proposed Transaction is in the best interests of Forian stockholders and other stakeholders, including its employees, clients, and end-users. As a public company, Forian’s low float depresses liquidity, slows the recognition of value in the markets, and widens the valuation disparity between the Company and comparable private peers. Furthermore, we do not believe that it makes sense for Forian, to be subject to the expense, distraction and administrative burden of quarterly reporting requirements and Sarbanes-Oxley compliance obligations. The Transaction addresses these considerations while providing public stockholders with immediate liquidity and certainty of value at a premium to current trading levels. We have summarized the proposed key terms of the Transaction below, which are supplemented by the term sheet attached hereto as Exhibit B:

Offer Price

We are prepared to offer $2.10 per share in cash for all of the outstanding shares of common stock of the Company that we do not currently own. This offer represents a substantial premium to relevant trading metrics, including a 19% premium to the closing price as of August 22, 2025.

Our proposal assumes an aggregate of approximately 31 million shares of common stock of the Company are outstanding immediately prior to the consummation of the Transaction.

Offer and Definitive Agreement

We anticipate that the Transaction will be structured as a two-step process, as outlined in Exhibit B. The definitive merger agreement, which will be negotiated on mutually-acceptable terms, will contain customary terms and conditions for transactions of a similar size and nature, which are further described in Exhibit B. Given our knowledge of the Company, we expect to be in a position to execute a definitive agreement promptly. Following the execution of a definitive agreement, we intend to commence a tender offer to acquire all of the outstanding shares of common stock of the Company that we do not currently own to be followed immediately by a short-form merger.

Financing

As part of the Transaction, we would plan to contribute all of our current equity interests in the Company, which account for in excess of approximately 63% of the shares of common stock outstanding. We intend to fund the Transaction by utilizing a combination of personal resources, third-party financing and the Company’s net cash at closing. We are highly confident the financing can be arranged on an expedited basis.

Due Diligence

The Transaction would be subject to satisfactory completion by us of customary due diligence of the Company. Given our history with Forian, we anticipate that the remaining due diligence will be limited in scope and can be completed quickly, assuming that the requested information is provided in a timely manner. We are prepared to commence our confirmatory due diligence review immediately and note that, among other items, we will need access to the Company’s general counsel, members of the Company’s finance team, including the Chief Financial Officer, and certain other key individuals identified in the due diligence process.

Disclosure

In accordance with our legal obligations, we will promptly file a Schedule 13D, including a copy of this letter.

Advisors

To assist us in consummating the proposed Transaction, we have engaged Allen Overy Shearman Sterling US LLP (“AOS”) as legal counsel.

Our proposal is a non-binding expression of interest only and does not constitute an offer to purchase the Company or any securities or assets of the Company. We reserve the right to withdraw or modify our proposal at any time. No legal obligation with respect to our proposal or any other transaction shall arise unless and until we have executed definitive transaction documentation with the Company.

We would welcome the opportunity to engage with you to further explain the merits of our proposal and work with the Board and any Special Committee to be established to explore a Transaction. To the extent you have any questions with regard to our proposal, please feel free to contact Max Wygod or our advisors at AOS.

[Signature page follows]

Sincerely,

/s/ Max Wygod
Max Wygod

Exhibit A

Consortium Members^[1]

1. Anthony Vuolo

2. Max C. Wygod Family Dynasty Trust

3. Estate of Martin J. Wygod

4. Administrative Trust U/ Wygod Family RV

5. Wygod Family REV LT U/T/A

6. Adam H. Dublin 2019 Family Trust

7. Adam Dublin

8. Carl Berg

9. Marble Lane Partners I, LLC

10. Oracle Partners, L.P.

11. Oracle Institutional Partners, L.P.

12. Oracle Ten Fund, L.P.

13. Oracle Investment Management, Inc. Employees’ Retirement Plan

14. The Feinberg Family Foundation

15. Oracle Associates, LLC

16. Oracle Investment Management, Inc.

17. Emily Bushnell

18. Michael Sawyer

19. Nell and Jane Cameron 2006 Trust

20. Shahir Kassam-Adams

21. Charles Mele

22. Michael and Sharon Glick

^[1] Note: Includes any trusts or other entities over which such person has control.

Exhibit B

Term Sheet

Term Sheet For Proposed Take-Private Transaction

The following is a non-binding, indicative term sheet summarizing the principal terms of the proposed acquisition of Forian, Inc. (the “Company”) by a special purpose acquisition vehicle to be formed for the purpose of such acquisition (the “Purchaser”), via a two-step tender offer and back-end merger (the “Transaction”).

Consortium and Formation of Purchaser	Certain stockholders (the “Consortium Stockholders”) of the Company to enter into a Consortium Agreement providing for their joint participation in the Transaction. The Consortium Stockholders will form the Purchaser entity prior to entry into the Merger Agreement.
Transaction Structure	At the closing, and assuming the closing conditions are met, the Consortium Stockholders will contribute their shares of Common Stock of the Company to Purchaser. Purchaser shall, at the closing, acquire 100% of the outstanding equity interests of the Company not already owned by Purchaser through a two-step process: (i) a cash tender offer for all outstanding shares of the Company (the “Offer”); followed by (ii) a merger of a wholly-owned subsidiary of Purchaser with and into the Company under Section 251(h) of the DGCL (the “Merger”). It is anticipated that the Transaction will be treated as a tax-free exchange to the Consortium Stockholders.
Purchase Price	The purchase price per share of common stock in both the Offer and Merger will be $2.10.
Treatment of Equity Incentive Awards	Any out-of-the-money stock options will be cancelled, any unvested RSUs will be assumed by the Purchaser and any vested RSUs will receive Merger proceeds.
Conditions to the Transaction	The Transaction as a whole will be conditioned upon the approval by a special committee of the board of directors of the Company, provided that such committee comprises disinterested directors that are independent and empowered to consider the proposal. The Transaction will also be conditioned upon the execution of satisfactory employment agreements with key management personnel. The Offer will be conditioned on certain customary closing conditions, including that at least a majority of outstanding shares of the Company are acquired by the Purchaser (either through the contribution by the Consortium Stockholders or tendered in the Offer).
Financing	The Offer and Merger will be funded with a combination of personal funds, third-party financing and cash from the balance sheet of the Company. The Offer and Merger will be conditioned upon receipt of such financing.
Consents and Regulatory Approvals	No third-party consents or regulatory approvals are expected to be required to effect the transaction, which we will confirm promptly in the course of our due diligence.

Forian Inc. SCHEDULE 13D