Item 7.01. Regulation FD Disclosure.
Gates Industrial Corporation plc ("Gates" or the "Company") is providing the
following update on the impact of the COVID-19 pandemic on the Company's
business. Gates is prioritizing the health and safety of its employees and the
communities around the world in which it does business. The Company is adhering
to orders and guidance provided by local governments and related health
authorities, and has taken actions to reduce the risk of spreading COVID-19
while maintaining operational continuity.
In China, where the impact of COVID-19 was initially felt, the Company's five
production facilities are currently running at normalized capacity levels,
serving end market demand as it recovers.
The Company's production facilities outside of China are currently fully
operational, with the exception of those in India, the operations of which have
been suspended for a planned three-week period that began March 24, in
accordance with a government mandate. For the fiscal year ended December 28,
2019, net sales in India comprised less than five percent of the Company's total
net sales. Gates employs an in-region, for-region manufacturing strategy, under
which local operations primarily support local demand. In those cases where
local production supports demand in other regions, contingency plans have been
activated as appropriate.
Recently, certain customers, primarily in Europe and North America, have
announced the temporary suspension of operations in various production
facilities as a result of the uncertainty associated with the COVID-19 pandemic.
The Company is managing its production schedules in response to these customer
announcements and other potential changes in the demand environment.
Due to the uncertainty surrounding the duration of the COVID-19 pandemic and the
extent of the measures taken around the world to attempt to limit its
transmission, the resulting impact on Gates' operations is unclear, however it
may be material. The Company currently has available liquidity of over $1
billion, consisting of approximately $600 million in cash and cash equivalents
and $440 million in revolving credit facility availability, and has no material
debt maturities until 2023. Gates will provide a further update on the impact of
the COVID-19 pandemic when it releases its first-quarter results.

Forward-Looking Statements This current report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's current outlook, expectations and projections and include statements related to the impact of COVID-19 on the Company's operations and its contingency plans, as well as the Company's liquidity and financial position. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks and uncertainties related to COVID-19, the Company's ability to continue operating its manufacturing facilities, the Company's ability to forecast and meet customer demand and more generally, macroeconomic factors beyond the Company's control that could cause actual outcomes or results to differ materially from those indicated in these statements. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements can be found under the section entitled "Risk Factors" of the Company's most recent Annual Report on Form 10-K. These factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

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