On December 30, 2022, the Board of Directors (the “Board”) of Gates Industrial Corporation plc (the “Company”), upon the recommendation of the Nominating and Governance Committee of the Board, appointed Mr. Seth Meisel as a director of the Company, effective January 1, 2023. On December 29, 2022, Mr. Terry Klebe notified the Company of his intention to resign from the Company's Board. This resignation was effective as of December 31, 2022.

The resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.