Red Bubble Annual Report 2022

17. Contributed equity and reserves continued (b) Movements in ordinary share capital and treasury reserve Share Capital Number of shares $’000 Balance at 1 July 2020 263,462,966 145,438 Exercise of options - 8,366 Settlement of restricted stock units (RSUs) - - Transferred from share based payments reserve - 8,990 Shares issued to Employee Share Trust 10,100,000 44,326 Shares allocated to participants from the Employee Share Trust - (41,413) Other shares issued 57,257 - Payment of withholding taxes to US tax authorities (1) - (3,155) Balance at 30 June 2021 273,620,223 162,552 Exercise of options - 1,459 Settlement of restricted stock units (RSUs) - - Transferred from share based payments reserve - 4,954 Shares issued to Employee Share Trust 2,300,000 10,120 Shares allocated to participants from the Employee Share Trust - (15,283) Payment of withholding taxes to US tax authorities(1) - (1,276) Balance at 30 June 2022 275,920,223 162,526 (1) Represents payment of withholding taxes accounted for as a deduction from equity in accordance with AASB 2 Share-based Payments. Treasury Reserve Number of shares $’000 Balance at 1 July 2020 (3,865,657) (5,303) Shares issued to Employee Share Trust and held in Treasury Reserve (10,100,000) (44,326) Shares allocated to participants from the Employee Share Trust and released from treasury reserve 12,783,499 41,413 Income tax benefit for contributions to the Employee Share Trust in excess of the associated cumulative remuneration expense - 9,900 Transfer of the income tax benefit to accumulated losses for equity rights that were converted to shares in the current period - (7,435) Shares held as security for limited recourse loan(2) (289,161) (1,600) Balance at 30 June 2021 (1,471,319) (7,351) Shares issued to Employee Share Trust and held in Treasury Reserve (2,300,000) (10,120) Shares allocated to participants from the Employee Share Trust and released from treasury reserve 2,788,239 15,283 Income tax benefit for contributions to the Employee Share Trust in excess of the associated cumulative remuneration expense - 2,153 Transfer of the income tax benefit to accumulated losses for equity rights that were converted to shares in the current period - (3,970) Balance at 30 June 2022 (983,080) (4,005) (2) Represents limited recourse loan provided to the CEO to purchase Redbubble shares on-market. Details of this transaction are disclosed in Note 22(b). Notes to the Consolidated Financial Statements continued For the Year Ended 30 June 2022 (c) Dividends No dividends were declared or paid during the year (2021: $nil). The Group’s franking account balance is $nil (2021: $nil). (d) Nature and purpose of reserves Share based payments reserve The share-based payments reserve arises on issue of share options/restricted stock units as payment for services to board members and employees (including senior executives). Foreign Currency Translation Reserve Exchange differences arising on translation of the foreign controlled entities are recognised in the foreign currency translation reserve within other comprehensive income. The cumulative amount is reclassified to the income statement when the foreign controlled entity to which it relates is disposed of. Treasury reserve The treasury reserve is used to hold the book value of shares held by the Employee Share Trust for future issue to participants on exercise of options/restricted stock units. It also includes limited recourse loan provided to the Redbubble Group CEO in the prior year to purchase Redbubble shares on-market. The tax effect of tax deductions for contributions to the Employee Share Trust in excess of the associated cumulative remuneration expense is recorded directly in equity and forms part of the treasury shares reserve. Amounts are transferred out of this reserve and into accumulated losses when the relevant equity rights are converted into shares. 18. Interests in subsidiaries Information about subsidiaries The consolidated financial statements of the Group include: Name of entity Country of incorporation Principal activities Equity holding 2022 % Equity holding 2021 % Redbubble Incorporated USA Provider of global sales, marketing and distribution services in respect of the Redbubble marketplace 100 100 Redbubble UK Limited UK Marketing and distribution services in Europe 100 100 Redbubble Europe GmbH Germany Marketing and distribution services in Europe 100 100 TP Apparel LLC USA Provider of global sales, marketing and distribution services in respect of the TeePublic marketplace 100 100 81 Redbubble – Annual Report 2022 80 Redbubble – Annual Report 2022

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