Disclaimer Forward-Looking Statements Industry and Market Data Non-GAAP Financial Information

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2 Disclaimer Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Securities Act of 1933, as amended (the Securities Act ), the Securities Exchange Act of 1934, as amended and forward-looking information within the meaning of Canadian securities laws. Forward-looking statements and information are not based on historical information and include, without limitation, statements and information regarding our future financial condition and results of operations, cash flows, business strategy and plans and objectives of management for future operations. Forward-looking statements and information reflect our current views with respect to future events. The words may, will, expect, intend, anticipate, believe, project, estimate and similar expressions identify forward-looking statements and information. These forward-looking statements and information are based upon estimates and assumptions made by us or our officials that, although believed to be reasonable, are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially and adversely as compared to those contemplated or implied by such forward-looking statements and information. All forward-looking statements and information involve risks, assumptions and uncertainties. You should not rely upon forward-looking statements or information as predictors of future events. The occurrence of the events described, and the achievement of the expected results, depend on many factors, some or all of which are not predictable or within our control. Actual results may differ materially from expected results. See the sections Risk Factors, Forward-Looking Statements, Management s Discussion and Analysis of Financial Condition and Results of Operations and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2015 filed on March 24, 2016 with the Securities and Exchange Commission (the SEC ) and on SEDAR for a more complete discussion of these risks, assumptions and uncertainties and for other risks and uncertainties. These risks, assumptions and uncertainties are not necessarily all for the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements and information. Other unknown or unpredictable factors also could harm our results. All of the forward-looking statements and information we have included in this presentation are based on information available to us on the date of this presentation. We undertake no obligation, and specifically decline any obligation, to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this presentation might not occur. Industry and Market Data This presentation includes references to certain industry and market data included in our initial public offering prospectus and our Annual Report on Form 10-K for the year ended December 31, 2015, which was derived from reports prepared by First Annapolis Consulting. For additional information, please see our Annual Report on Form 10-K for the year ended December 31, 2015 filed on March 24, 2016 with the SEC and on SEDAR. Non-GAAP Financial Information Generally Accepted Accounting Principles ( GAAP ) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, CPI has provided certain non-gaap financial measures, including Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and Adjusted Free Cash Flow. CPI defines Adjusted EBITDA as net income from continuing operations before interest expense, net, provision for income taxes, and depreciation and amortization, plus adjustments for restructuring and other charges, stock-based compensation expense, including non-cash compensation expense related to our phantom stock plan that was terminated in connection our IPO, performance bonuses earned in connection with the EFT Source acquisition, loss on debt modification and early extinguishment, investment banking and related fees, and foreign currency gain or loss. Adjusted Net Income is defined as net income from continuing operations, excluding restructuring and other costs associated with the closure of the Petersfield U.K. facility, amortization of intangible assets, accelerated amortization of debt issuance costs in connection with term loan principle payments, stock-based compensation expense, including non-cash compensation expense related to our phantom stock plan that was terminated in connection our IPO, loss on debt modification and early extinguishment, EFT Source acquisition performance payments, and investment banking and related fees, all net of their income tax impact. Adjusted earnings per share (calculated on a diluted basis) is computed using adjusted net income as previously defined on a per share basis. The tax rates used to calculate Adjusted Net Income and Adjusted Earnings per Share are based on the Company s long-term expected effective tax rate estimate for each period presented. Adjusted EBITDA and Adjusted Net Income should not be considered an alternative to net income, income before income taxes, cash flows from operating activities, or any other measure of financial performance calculated in accordance with GAAP as those items are used to measure operating performance, liquidity or the ability to service debt obligations. CPI believes that Adjusted EBITDA and Adjusted Net Income present a transparent view of its recurring operating performance and allows management to readily view operating trends, perform analytical comparisons and identify strategies to improve operating performance. Further, Adjusted EBITDA and Adjusted Net Income, as CPI defines them, may not be comparable to Adjusted EBITDA and Adjusted Net Income or similarly titled measures used by other entities. Free cash flow is defined as cash flow from operations less capital expenditures. Adjusted Free Cash Flow is Free Cash Flow adjusted for the cash payment related to the settlement of the Phantom Stock Plan in conjunction with the IPO. We use this metric in analyzing our ability to service and repay our debt and to forecast future periods. However, this measure does not represent funds available for investment or other discretionary uses since it does not deduct cash used to service our debt. For a reconciliation of Adjusted EBITDA, Adjusted Net Income to net income from continuing operations, the most comparable GAAP measure, Free Cash Flow and Adjusted Free Cash Flow, please refer to our supplemental GAAP to Non-GAAP reconciliation slide in the appendix of this presentation, our Annual Report on Form 10-K filed for the year ended December 31, 2015 filed on March 24, 2016 with the SEC and on SEDAR, and our earnings press release for the fourth quarter of 2015 on our Investor Relations website at 1

3 CPI is a North American Leader in Payment Card Solutions Market Leadership Attractive Financial Profile #1 Market Position in the U.S. Prepaid Debit Card market $374 million & 27% CAGR (1) Net Sales FY2015 #1 Market Position in the highly attractive U.S. Small Issuer market $96 million & 48% CAGR (1) Adjusted EBITDA FY2015 Leading Position in the U.S. Large Issuer market, serving the majority of the top 20 U.S. card issuers $39 million Adjusted Free Cash Flow (2) FY2015 Financial Performance Enhanced by EMV Market Conversion Source: First Annapolis Industry Research (May 2015). Note: Relative market positions are by unit volume and represent management estimates. (1) CAGR measured from (2) Adjusted Free Cash Flow defined as cash flow from operations less capital expenditures, adjusted for a $13.9 million payment related to the settlement of the Company s Phantom Stock Plan in conjunction with the IPO. 2

4 CPI Serves a Large and Growing Market Increasing Participation of Card Payments U.S. Payment Transactions Large and Growing Addressable Market U.S. Card Production Volume ~38% Card-Based in 2005 ~69% Card-Based in 2018E 1.3BN 2019E ~2.5% 14-19E CAGR Increasing Demand for Value-Added Services Outsourced U.S. Card Personalization Revenue CPI is at the Center of Powerful Long-term Trends EMV Conversion U.S. Card Production Revenue $604MM 2019E ~8% 14-19E CAGR $1.3BN 2019E ~26% 14-19E CAGR Source: First Annapolis Industry Research (May 2015), The Nilson Report (issue 1054). 3

5 Comprehensive Card Solutions and Services EMV Financial Payment Cards Non-EMV Payment Cards Card Data Personalization Instant Card Issuance Systems Tamper-Evident Security Packaging Solutions Feature a chip that interfaces with an EMV payment terminal Utilize magnetic stripe, RFID contactless technology, or both Encoding information on financial cards Data integration with over 3,250 U.S. banks In branch financial card issuance Installed base of more than 4,000 units at bank branches Solutions designed for feature and antifraud function for Prepaid Debit Cards CPI Provides a Broad End-to-end Suite of Solutions 4

6 Key Investment Highlights Leading Market Positions Long-term, Trusted Customer Relationships Well-Positioned for Long-Term Growth Comprehensive End-to-End Suite of Offerings Multiple Drivers of Growth Attractive Financial Model 5

7 Leading Industry Positions / Long-Term, Trusted Customer Relationships Industry Experience and Know-How A Market Leader in North America with over 20 Years of Experience Long-Term, Trusted Customer Relationships Average Tenure With Top 5 Customers of 10+ Years ~4,000 total customers #1 Market Position U.S. Prepaid Debit Card market Deep Customer Integration Integration with Customers on Value-Added Services Intellectual Property Patents, Licenses and Exclusive Production Rights Payment Card Brand Certifications 8 High-Security Facilities, Each Certified by One or More of the Payment Card Brands #1 Market Position Leading Position U.S. Small Issuer market U.S. Large Issuer market #1 Position in U.S. Financial Payment Card Market with ~35% Cards Produced Note: Relative market positions are by unit volume and represent management estimates. 6

8 High Recurring Demand 2014 Total Annual Card Issuance Detail (1) (% of total cards issued) 12% Existing Card Replacement Significant annual recurring card demand 16% 53% Vast majority of cards issued annually replace existing cards 19% Expiration (53%) Lost / Stolen / Fraud (19%) Portfolio Churn (16%) Portfolio Growth (12%) Card life shorter than expiration cycle Approximately 88% of Annual Demand Driven by Reissuance of Existing Cards Source: First Annapolis Industry Research (May 2015). (1) Includes Private Label Credit Cards. 7

9 Cards Produced (MM) U.S. Annual Card Production Forecast (all card types) 1,800 EMV Produced and Issued Net EMV Inventory Produced Non-EMV Issued 1,600 1,400 1,200 1, ,266 1,255 1,271 1,123 1,115 1,145 1, F 2017F 2018F 2019F 2020 Estimated EMV Card Production Range Low High Low scenario includes inventory spend-down to only 3 months of issuance volume and a 5% reduction in industry EMV issuance forecast. 2 High scenario includes inventory spend-down to 6 months of issuance volume and a 5% increase in industry EMV issuance forecast. Source: First Annapolis Consulting analysis (June 2016); quarterly releases from Visa, MasterCard, Discover, and American Express 8

10 Cards Produced (MM) U.S. EMV Conversion by Card Type U.S. Credit Card Production Forecast (MM) U.S. Debit Card Production Forecast (MM) 600 EMV Produced and Issued Net EMV Inventory Produced 600 EMV Produced and Issued Net EMV Inventory Produced F 2017F 2018F 2019F F 2017F 2018F 2019F 2020 Source: First Annapolis Consulting analysis (June 2016); quarterly releases from Visa, MasterCard, Discover, and American Express ~52% 1 of U.S. Debit and Credit Cards Have Converted to EMV at March 31, : Glenbrook Partners, LLC. compiled this data from various publicly available resources on behalf of CPI Card Group. Sources Include: 1) The Nilson Report #1080 and #1084 (prepaid data represents top 50 issuers only); 2) Visa - FY16 Q1 Earnings Call (Jan2015) and FY16 Q2 Earnings Call (April2016); 3) MasterCard - FY2015 Annual Report, FY15 Q4 Earnings Call (Jan2015) and FY16 Q1 Earnings Call (April2016); American Express FY16 Q1 Earnings Call (Jan2016); 4) CardFlight (Dec2015 and April2016); 9

11 Dual-Interface Growth Beyond Initial EMV Conversion Momentum of Dual-Interface Dual-Interface EMV ASP EMV cards issued in the U.S. to date primarily have been Contact EMV cards Dual-Interface EMV card issuance growing globally: Contact EMV ASP Magnetic Stripe ASP Dual-Interface Provides Significant Additional Future Growth Opportunity Note: Figures represent management estimates. 10

12 Well Positioned for Long-Term Growth and Expansion Leverage Existing Customer Base Expand to New Customers and Offerings Grow with Existing Customers Further Penetrate Existing Customer Base Innovate and Enhance Suite of Solutions Expand Reach in Card Market Selectively Pursue Strategic Acquisitions Continued organic growth and expansion of the U.S. card market Increase share of wallet of ~4,000 clients by cross selling new and value-added services Develop new products and solutions to expand offer Identify and develop new vertical market opportunities within existing customer base and new prospects Execute and integrate acquisitions to strengthen market position and maximize growth CPI Expects to Utilize its Proven Strategy to Deliver Above Market Growth 11

13 Substantial Cross-Selling Opportunities Comprehensive End-to-End Solutions Long-term, Trusted Customer Relationships EMV Financial Payment Cards Non-EMV Financial Payment Cards and Retail Gift Cards Instant Card Issuance Systems Large Issuers Card Data Personalization Tamper-Evident Security Packaging Solutions Instant Card Issuance Services Small Issuers and Group Service Providers Prepaid Issuers and Program Managers Expected to Continue to Enhance CPI s Market Share Positions 12

14 Continuous Innovation and Product Enhancement Broad Range of Innovative Payment Solutions Tamper-Evident Packaging Innovative products protect CPI s customers cards from fraud prior to sale Card@Once Instant Issuance Patented technology allows branches to instantly issue fully personalized debit cards Customized unique solutions Patented tamper-evident and functional features Card protection Creative design options Accelerated customer onboarding Increased new card usage Enhanced profitability Brand differentiation Deepens Existing Customer Penetration and Attracts New Customers 13

15 Acquisitions Have Added Growth and Strengthened Market Positions Acquisition Rationale Delivered Enhance Existing End-to-End solutions Strengthen Market Position Strengthen Customer Base Enter Attractive Markets and Verticals Broaden Production Capabilities Strengthened Small Issuer market position Established geographical presence in Canada and U.K Expanded Prepaid Debit Card market position 2014 Expanded secure capabilities geographically Extended personalization capabilities in Small Issuer market including Instant Issuance Highly Successful Track Record of Integrating and Growing Acquired Businesses 14

16 Attractive Financial Profile Strong Growth Profile High recurring revenue with strong industry trends Net sales CAGR of 27% (FY2012 FY2015) Adjusted EBITDA CAGR of 48% (FY2012 FY2015) Significant Operating Leverage Scale and efficiency further enhanced by continued top line growth Adjusted EBITDA margin of 26% (FY2015) Major infrastructure investment completed Attractive Free Cash Flow Profile $39.1 million FY2015 (1) Strong deleveraging profile that should enhance future earnings Financial flexibility to pursue corporate initiatives, strategic opportunities and capital return (1) Adjusted Free Cash Flow, defined as cash flow from operations less capital expenditures, adjusted for a $13.9 million payment related to the settlement of the Company s Phantom Stock Plan in conjunction with the IPO. 15

17 Strong Historical Performance Net Sales Adjusted EBITDA Adjusted Net Income ($ in millions) ($ in millions) $374 $96 ($ in millions) $47 $261 $242 $54 $184 $196 $159 $38 $23 $99 $101 $85 $95 $102 $132 $31 17% 20% 21% 26% $10 $ Services Products Adjusted EBITDA Adjusted EBITDA Margin Adjusted Net Income 16

18 2016 Outlook EMV conversions 1 for Credit and Debit cards continues ~50% of U.S. Credit and Debit card market had converted to EMV as of March 31, 2016 ~ 58% of Credit cards (lead by large issuer banks) ~ 28% of Debit cards (driven by small and mid-sized issuers) Services businesses continue to perform as expected Personalization and fulfillment achieved strong growth in Q Expected to continue to benefit from ongoing EMV migration Ended Q1 with over 4,230 Card@Once installations, up from 4,000 at YE Current 2016 guidance 2 reflects near-term headwinds in the US Debit and Credit businesses Slower 2016 demand from large issuers as a result of 2015 EMV card inventory carry-over EMV conversion pace for small and mid-sized issuers temporarily impacted by initial system conversions Pricing pressure in large issuer segment 1. Management estimate 2. Issued May 11,

19 Appendix 18

20 Quarterly Financial Highlights Quarterly Revenue $ in millions 2014A 2015A 2016A $43 $53 $77 $88 $77 $96 $108 $94 $86 YoY growth Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q % 80% 39% 6% 12% Quarterly Adjusted EBITDA $ in millions 2014A 2015A 2016A $32 $22 $18 $17 $25 $22 $19 $5 $9 YoY growth Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q % 158% 51% 21% 13% 19

21 Non-GAAP Reconciliation ($ in millions) Year Ended Dec 31, Q1 Q2 Q3 Q4 YE Dec 31, Q1 Q2 Q3 Q4 YE Dec 31, Q Net Income from Continuing Operations $8.7 $11.2 $0.5 $3.1 $6.8 $5.6 $16.0 $6.0 $12.2 $14.8 ($1.6) $31.3 $5.7 Depreciation and Amortization Interest, net Provision for Income Taxes EBITDA $30.9 $37.6 $5.3 $9.6 $16.7 $15.4 $47.0 $15.9 $23.8 $29.8 $14.0 $83.4 $17.7 Foreign Currency (Gain) / Loss (0.2) (0.1) (0.0) (0.1) 0.1 Loss on Debt Modification Gain on Purchase of ID Data (0.6) Non-cash Compensation Expense (0.4) (0.2) EFT Source Performance Bonuses Investment Banking and Related Fees Other One-Time / Non-Recurring Item Adjustments Total Non-GAAP Adjustments ($0.3) $0.8 ($0.2) ($0.2) $4.9 $2.7 $7.2 $0.7 $1.5 $2.8 $7.8 $12.8 $1.1 Adjusted EBITDA $30.6 $38.4 $5.1 $9.5 $21.6 $18.1 $54.2 $16.6 $25.3 $32.5 $21.8 $96.2 $18.8 Net Income from Continuing Operations $8.7 $11.2 $16.0 $31.3 $5.7 Non-cash Compensation Expense Amortization of Acquired Intangibles Other One-Time / Non-Recurring Item Adjustments (0.3) Tax Effect of Adjustments (0.7) (1.1) (3.7) (7.5) (0.7) Total Non-GAAP Adjustments $1.0 $1.7 $6.8 $16.1 $1.4 Adjusted Net Income $9.7 $12.9 $22.8 $47.3 $7.1 20

22 Non-GAAP Reconciliation ($ in millions) YE Dec 31, 2015 Net Cash Provided by Operating Activities $43.9 Acquisitions of plant, equipment and leasehold improvements (18.7) Free Cash Flow $25.2 Cash payment related to the settlement of the phantom stock plan in conjunction with the IPO 13.9 Adjusted Free Cash Flow $