Gates Industrial Corporation Lt

Filing receipts

“Analysis by Operating Segment Power Transmission (62.6% of Gates’ net sales for the three months ended March 28, 2026) Three months ended (dollars in millions) March 28, 2026 March 29, 2025 Period over period change Net sales $ 533.2 $ 527.2 1.1 % Adjusted EBITDA $ 112.0 $ 116.7 (4.0 %) Adjusted EBITDA margin 21.0 % 22.1 % Net sales in Power Transmission for the three months ended March 28, 2026, increased by 1.1%, or $6.0 million, compared to the prior year period, driven primarily by benefits from pricing of $11.3 million, partially offset by lower volumes.”

“The decrease of cash used in investing activities was primarily driven by decreased capital expenditures of $4.7 million, partially offset by a $0.4 million increase in net cash paid under company-owned life insurance policies, and $0.7 million fewer proceeds from the sale of property, plant and equipment.”

“Fluid Power Adjusted EBITDA for the three months ended March 28, 2026 decreased by 7.4%, or $5.2 million, compared to the prior year period, driven primarily by lower volumes, partially offset by benefits from pricing.”