Red Bubble Annual Report 2022

Letter from the People and Nomination Committee Dear Shareholder, On behalf of the Board, I am pleased to present our Remuneration Report for FY2022. In FY22, consistent with our previously communicated strategic priorities, the Group has invested significantly in building internal capacity and capability to deliver on our medium-term aspirations. We have recruited new talent into the business, and we have worked hard to retain our existing talent. Our Executives are committed to company cultures that promote high engagement and outstanding performance in their teams. In the past year, it has been critical to foster this type of culture as the external talent market has been challenging and the competition for talent has been intense. We have engaged with our teams to evolve our values and introduce behaviors that codify the way we work, in order to be successful. Our employee engagement levels are strong but we are striving for continuous improvement and have programs in place for internal communication, diversity & inclusion, and career development initiatives. We have invested in our leadership capability through formal coaching, internal training, and a stronger alignment between our organisational design and leadership expectations. We recognise that this work is critical to drive the next phase of our growth and ensure we realise the maximum benefit from our capacity and capability investment. We are encouraged by the depth of talent the team has built across our four operating geographies, and the positive culture that has evolved. The Board is seeking to ensure the stability of its leadership team and so has chosen to implement a one-off equity-based Executive Retention Incentive for eight key Leadership Team roles. The financial implications for the Company are modest, with the total value of this Incentive being $1.3m in equity grants. As this Incentive was implemented in July, the detail will be documented in the FY2023 Annual Report. Finally, within this year’s Remuneration Report we have provided an analysis of the impact of a lower share price on our Executive KMP compensation outcomes that makes clear the alignment of shareholder and executive interests under our Remuneration Strategy. Ben Heap Chair of the People, Remuneration and Nomination Committee Remuneration Report (audited) Contents 1. Remuneration Report Overview 42 2. Remuneration Strategy Overview 42 3. How Remuneration is Governed 43 4. Company Performance in FY2022 44 5. Executive Remuneration 45 6. Non-Executive Director (NED) Remuneration 49 7. Statutory Reporting for FY2022 50 8. Other Information 52 In this Remuneration Report the following definitions are used: • Redbubble means Redbubble Limited (ACN 119 200 592); • Board means the Board of Directors of Redbubble; • Committee means the People and Nomination Committee of the Board of Redbubble; • Executives means the members of the RB Group executive team; • NED means the Non-executive Directors of the Company; • RB Group means Redbubble and its subsidiaries; and • RECM means the RB Group Executive Compensation Model. 41 Redbubble – Annual Report 2022 40 Redbubble – Annual Report 2022