-- Believes Significant Opportunities Exist within Redbubble to Unlock Value 
Through Strategic Alternatives, Including a Sale to a Strategic Acquirer 

-- Concerned That Inconsistent Operational Performance and Execution Have 
Eroded Shareholder Confidence in the Company 

-- Looks Forward to Working Collaboratively with Management and the Board to 
Drive Value for the Benefit of All Shareholders 

Emancipation Capital ("Emancipation", "we"), a long term shareholder in 
Redbubble Group Ltd. (ASX:RBL) ("Redbubble" or, the "Company"), today announced 
that on December 22, 2019, it delivered a letter to Barry Newstead, Redbubble's 
Chief Executive Officer and the other members of the Company's Board of 
Directors (the "Board"). Emancipation's view of Redbubble's strategic value is 
undiminished, but said that the Board and management's inability to show 
consistent results and further improve its market leading position has caused 
Emancipation to urge Redbubble to seek a strategic alternative.   Emancipation 
looks forward to continuing discussions with management and the Board and 
believe its concerns reflect the view of many other shareholders. 

The full text of Emancipation's letter to the CEO and Board can be viewed at 
the following link:

https://mma.prnewswire.com/media/1059595/RBL_Board_Letter.pdf

About Emancipation Capital 
Emancipation is a long-term and engaged shareholder, often advising portfolio 
companies on capital allocation, strategy, competitive analysis, etc. The 
principal has served on multiple public and private technology company boards.

Investor contacts:
Charles Frumberg +1 (212) 605-0661
https://www.emancipationcapital.com/ 

SOURCE: Emancipation Capital