Redbubble Annual Report 2020

35 Annual Report 2020 Remuneration Report Letter from the People and Nomination Committee Dear Shareholder, On behalf of the Board, I am pleased to present our Remuneration Report for FY2020. The role of the People and Nomination Committee (Committee) is to ensure that the RB Group has appropriate remuneration and retention strategies to attract and retain high quality talent - both locally and globally - to enable the Company to execute its mission and purpose, in order to build long-term value for shareholders. RB Group Executive Compensation Model (RECM) As shareholders may recall, the Committee last year conducted a comprehensive review of the Group’s executive remuneration arrangements and the Board approved a revised model designed to better align with the Group’s strategic intent. During FY2020 the Company has implemented the RECM and transitioned RB Group executives to the RECM. The objectives of the RECM are to: • Link executive performance with RB Group’s financial goals; • Motivate executives to create sustainable, long-term value for shareholders; • Align the leadership team by providing consistent goals that encourage a long-term focus; and • Attract and retain exceptional talent in globally competitive, highly mobile markets. As described in more detail in this Report, the RECM comprises cash compensation, long-term equity (LTE) with restrictions on disposal and long-term incentives (LTI) with vesting and exercise conditions based on compound annual share price growth. The Committee is confident that the RECM will provide a strong foundation to attract and retain talent and align them with building long-term value for shareholders. Key Management Personnel (KMP) This Report details the remuneration arrangements for the KMP being those persons who have authority and responsibility for planning, directing and controlling the major activities of RB Group, directly or indirectly, including any Director (whether executive or otherwise). The current KMP of the RB Group are Mr Martin Hosking, our Managing Director and CEO, and Ms Emma Clark, our CFO, together with our Chair, Ms Anne Ward, and our Non-executive Directors, Mr Greg Lockwood, Ms Jenny Macdonald and myself. During the year, we transitioned the role of the CEO. In February 2020, Barry Newstead ceased to be the Chief Executive Officer of RB Group. Martin Hosking resumed the role of CEO on an interim basis, having retired from this role in 2018. Mr Hosking remains a member of the Board. In addition, we transitioned the role of Chair of the RB Group. In March 2020, Mr Richard Cawsey retired from the Board and Ms Anne Ward was elected as Chair. A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation 23 Ernst & Young 8 Exhibition Street Melbourne VIC 3000 Australia GPO Box 67 Melbourne VIC 3001 Tel: +61 3 9288 8000 Fax: +61 3 8650 7777 Auditor’s Independence Declaration to the Directors of Redbubble Limited As lead auditor for the audit of the financial report of Redbubble Limited for the financial year ended 30 June 2020, I declare to the best of my knowledge and belief, there have been: a) no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit ; and b) no contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in respect of Redbubble Limited and the entities it controlled during the financial year. Ernst & Young Kylie Bodenham Partner 21 August 2020 34 A member firm of Ernst & Young Global Limited Liability limited on a scheme approved under Professional Standards Legislation