The greater than symbol simply matches the literal > at the end of your target string.
The less than symbol is not so simple. First let's review the lookaround syntax:
The pattern (?<={pattern}) is a positive lookbehind assertion, it tests whether the currently matched string is preceded by a string matching {pattern}.
The pattern (?={pattern}) is a positive lookahead assertion, it tests whether the currently matched string is followed by a string matching {pattern}.
So breaking down your expression
(?<=<) assert that the currently matched string is preceded by a literal <
.*? match anything zero or more times, lazily
(?=>) assert than the currently matched string is followed by a literal >
Putting it all together the pattern will extract email@email.com from the input string you have given it.