Red Bubble Annual Report 2022

Chairman’s Message On behalf of the Redbubble Board of Directors, I am pleased to present the 2022 Annual Report. After a year of record financial results in FY2021, the past year has been a year of consolidation for the Redbubble Group during which we have undertaken important measures to provide a solid foundation for the next step up in the business while still achieving sound financial and operating results. As I noted in last year’s report, the pandemic had a profound impact on consumer behaviour and accelerated the shift to online e-commerce platforms. However, while there were clear indicators that this shift would be This has not distracted the Board or the management team from our roles and we continue to actively investigate value enhancing options on behalf of all stakeholders. Our priority for FY2023 remains to invest organically, recognising that inorganic opportunities that could assist in the acceleration of shareholder value will also be considered. At its heart Redbubble is a company with a purpose beyond financial results and our purpose of bringing more creativity into the world remains central to everything we do. As the world continued to endure COVID outbreaks with health impacts and intermittent lockdowns, our staff continued to show extraordinary care for each other and the artist community and consumers that the marketplaces service. Given the strong commitment to purpose, it was no surprise that our management and staff wanted to take action to assist the victims of the tragic events in Ukraine in 2022 and almost immediately arrangements were made to donate Redbubble’s profits on it’s service fees from sales of products by over 16,000 artists supportive of Ukraine. This showed the ability to respond quickly to an important world event and harness the marketplace for good when needed with $170,000 being donated by Redbubble to charities supporting victims of the conflict. In last year’s annual report, we provided information in relation to the Group’s approach to environmental, social and governance (ESG) issues. While a small environmental footprint is an intrinsic element of our business model, we thought it important for the Group to more clearly integrate ESG into our strategy and decision making in the future. This year we provide some further detail in this report in relation to our approach to ESG and the metrics we consider important to measuring our progress. We look forward to publishing our inaugural Sustainability Report ahead of our Annual General Meeting in October 2022. As part of ongoing Board renewal, in the latter part of FY2022, the Board commenced a process for selection and appointment of an additional director with experience in scaling e-commerce marketplaces and brand building. It is expected that this additional director will be appointed before the end of 2022. In closing, I would like to thank the talented artists who choose Redbubble to bring more creativity into the world, our network of third party fulfillers and content licensing partners and the customers who continue to use our marketplaces in increasing numbers. Thank you also to my fellow Directors, Michael and the Executive Leadership Team and the many committed employees of the Group for their ongoing contribution. I would also like to welcome all new employees who have joined us over the past year. Finally, thank you to our shareholders for your continued support as we realise our ambition of creating the world’s largest marketplace for independent artists Anne Ward Chairman enduring, the extent to which the shift would be ongoing was less clear. I am pleased to report that in FY2022 our business retained many of the customers introduced to our marketplaces during the pandemic. This is reflected in our financial results for the year and other metrics such as volume of packages shipped, repeat purchasers and number of artists. Our business is now substantially larger than pre-COVID and this stepup is consistent with historical growth patterns which have often not been linear. The past year has been a period of consolidating gains and building resilience in the business which “ At its heart Redbubble is a company with a purpose beyond financial results and our purpose of bringing more creativity into the world remains central to everything we do.” we see as critically important to securing the next phase of future growth. The investment in our marketplace and staff over the past year, together with a stable and talented executive team and Board means the Group is well positioned to achieve our medium-term growth aspirations. Notwithstanding these positive indicators for the Group, it is clear that there has been a cyclical shift in sentiment away from the broader technology sector, in part due to the reduction in the rapid growth experienced by the sector during the first two years of the pandemic. This change in sentiment has affected Redbubble also. 08 Redbubble – Annual Report 2022 09 Redbubble – Annual Report 2022