On October 21, 2022, the Board of Directors (the “Board”) of Gates Industrial Corporation plc (the “Company”) appointed Mr. Fredrik Eliasson as a director of the Company, effective October 24, 2022. He will stand for election by the Company's shareholders at the 2023 Annual General Meeting of Shareholders. The Board has determined that Mr. Eliasson qualifies as an independent director under the New York Stock Exchange listing standards and the Company's Corporate Governance Guidelines.

Mr. Eliasson will not serve on any committees of the Board at this time.