How does the replacement for print_eex work?

I see that the print_eex snippet was removed (https://github.com/elixir-editors/elixir-tmbundle/commit/98a9bb44bb82e208f243d10e3434c296febffe7e), but I don't understand the instructions in that commit. How do I get the `<%= … %>` snippet?

My only guess was that `^>` refers to the key binding Ctrl+>, but I can't get that to do anything in Sublime Text 3.