Company Announcements

9 December 2022

Card Factory plc

('Card Factory' or 'the Company')

Board Changes

Card Factory, the UK's leading specialist retailer of greeting cards, gifts, wrap and bags, announces that Octavia Morley has advised the Company that she intends to step down from the Board at the end of the current financial year (i.e. 31 January 2023).

Octavia joined the Card Factory board in April 2014, fulfilling the roles as Senior Independent non-Executive Director and Chair of the Remuneration Committee.

Card Factory is pleased to announce that Roger Whiteside has agreed to assume the role as Senior Independent non-Executive Director and Indira Thambiah will be appointed Chair of the Remuneration Committee, with effect from 1 February 2023.

The Board consider the balance of skills and experience of Board to be appropriate for its current requirements and therefore are not planning to recruit a further non-executive director at this time.

Paul Moody, Chairman, commented:

"On behalf of the Board, I would like to thank Octavia for her invaluable contribution to Card Factory over the past nine years. Octavia has always provided clear counsel and commercial insight to the Board and as chair of the Remuneration Committee has helped navigate us through the increasingly tricky landscape of executive remuneration. I have enjoyed working with Octavia and very much appreciated her pragmatism, courage and direct engagement on, sometimes, challenging issues.

We wish Octavia continued success with her non-executive portfolio."

Enquiries

Card Factory plc                                                                       via Tulchan Communications (below)

Darcy Willson-Rymer, Chief Executive Officer

Kris Lee, Chief Financial Officer

Tulchan Communications                                                        +44 (0) 207 353 4200

James Macey White / Toby Zeal                                                 cardfactory@tulchangroup.com