Fifth Annual Report Highlights Continued Progress

DENVER, June 21, 2023 /PRNewswire/ -- Gates (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today published its annual Sustainability Report for 2022. The report highlights our progress on the four pillars of our sustainability strategy: Governance, Technology, Environment, and Stewardship.

Gates Industrial Corporation

"I'm proud of the ongoing commitment from our global teams to continue to advance our sustainability efforts company-wide, as captured in our latest Sustainability Report," said Ivo Jurek, chief executive officer of Gates. "We have further invested in our ESG organization, established additional governance processes, enhanced our reporting to align with global standards, and continued to leverage our Eco-InnovationTM process to develop and manufacture products with a reduced environmental footprint while also supporting our customers on their sustainability journeys."

Gates' reporting process applies the standards and guidelines expressed by the International Financial Reporting Standards (IFRS) Foundation and its Sustainability Accounting Standards Board (SASB), and the Task Force on Climate-related Financial Disclosures (TCFD). Reporting is also informed by the Global Reporting Initiative (GRI) and United Nations Sustainable Development Goals (SDGs).

For more details, please see the full Gates 2022 Sustainability Report, available to view or download at www.gates.com/sustainability

About Gates Industrial Corporation plc
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to original equipment manufacturers as specified components. For more than a century, Gates has pushed the boundaries of materials science to engineer products that exceed expectations in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets including industrial on-highway, industrial off-highway, mobility and recreation, automotive, energy and resources as well as diversified industrial. Our products are sold in more than 30 countries across our four commercial regions: the Americas; Europe, Middle East & Africa; Greater China; and East Asia & India. More about Gates can be found at www.gates.com.

Forward-Looking Statements
This press release 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 related to and based on management's current expectations regarding the performance of the Company's business and its plans, objectives, and intentions. Such forward-looking statements are subject to various risks and uncertainties that could cause the Company's results to differ materially from those described in the forward-looking statements. Certain of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission ("SEC").  These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement should circumstances change, except as required by law.

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SOURCE Gates Corporation