CPI Card Group Prices Initial Public Offering

LITTLETON, COLORADO--(Marketwired - Oct. 8, 2015) - CPI Card Group Inc. (the "Company") today announced the pricing of its initial public offering of 15,000,000 shares of common stock at US$10.00 per share. In addition, certain existing stockholders have granted the underwriters an option to purchase up to an additional 2,250,000 shares of common stock at the initial public offering price within 30 days of the offering closing. The offering is expected to close on or about October 15, 2015.

The shares of common stock have been approved for listing on the NASDAQ Global Select Market and conditionally approved for listing on the Toronto Stock Exchange under the ticker symbols "PMTS" and "PNT", respectively.

The Company expects to receive net proceeds of approximately US$137.5 million from the offering and intends to use such proceeds to redeem the remaining outstanding shares of its preferred stock, to terminate its phantom stock plan and to satisfy all liabilities due thereunder and to repay outstanding indebtedness.

BMO Capital Markets, Goldman, Sachs & Co. and CIBC are acting as joint book-running managers for the offering, and Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C, Raymond James Ltd, Scotiabank and GMP Securities L.P. are acting act as co-managers for the offering.

The Company has filed and obtained a receipt for a final prospectus for the offering from the securities regulatory authorities in each of the provinces and territories of Canada. A copy of the supplemented PREP prospectus containing pricing information and other important information relating to the shares may be obtained from the underwriters at the addresses set out below and will be available on the SEDAR website at www.sedar.com under the Company's profile.

A copy of the U.S. prospectus related to the offering may be obtained from: BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, New York, NY 10036, or by telephone at 1-(800)-414-3627 or by email at bmoprospectus@bmo.com; Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at 1-(866)-471-2526 or by email at prospectus-ny@ny.email.gs.com; or CIBC, by telephone at 1-(800)-282-0822 or by email at useprospectus@us.cibc.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 8, 2015. This press release does not constitute an offer to sell or a solicitation of an offer to buy the Company's common stock, nor shall there be any sale of such shares in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements, which are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. Forward-looking statements include information concerning the proposed offering. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that we will effect an initial public offering or the terms upon which we will consummate the offering. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.