FORWARD AIR CORP

CUSIP: 349853101 Class: Common Stock

FIDUCIARY MANAGEMENT INC /WI/'s Holding History (CIK: 0000764532)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014
Shares 817,975 Value ($000) $41,201 Avg Close — Range —
Q3 2014
Shares 857,803 Value ($000) $38,455 Avg Close — Range —
Q2 2014
Shares 873,753 Value ($000) $41,809 Avg Close — Range —
Q1 2014
Shares 858,433 Value ($000) $39,582 Avg Close — Range —
Q4 2013
Shares 861,204 Value ($000) $37,815 Avg Close — Range —
Q3 2013
Shares 876,569 Value ($000) $35,370 Avg Close — Range —
Q2 2013
Shares 836,579 Value ($000) $32,024 Avg Close — Range —