Document:

EX-10.1

 Exhibit 10.1 

SHAREHOLDERS AGREEMENT 

This Shareholders’ Agreement is entered into as of January 29, 2018 by and among Gates Industrial Corporation plc, a public limited
company incorporated under the laws of England and Wales (the “Company”), and each of the other parties from time to time party hereto (collectively, the “Shareholders”). 

RECITALS: 
 WHEREAS, the Company
is effecting an underwritten initial public offering (“IPO”) of its Ordinary Shares (as defined below); and 
 WHEREAS, in
connection with the IPO, the Company and the Shareholders wish to set forth certain understandings between such parties, including with respect to certain governance matters. 

NOW, THEREFORE, the parties agree as follows: 

ARTICLE I. 

INTRODUCTORY MATTERS 
 1.1 
Defined Terms. In addition to the terms defined elsewhere herein, the following terms have the following meanings when used herein with initial capital letters: 

“Affiliate” has the meaning set forth in Rule 12b-2 promulgated under the Exchange
Act, as in effect on the date hereof. 
 “Agreement” means this Shareholders Agreement, as the same may be amended,
supplemented, restated or otherwise modified from time to time in accordance with the terms hereof. 
 “Beneficially Own”
has the meaning set forth in Rule 13d-3 promulgated under the Exchange Act. 

“Board” means the Board of Directors of the Company. 

“Business Day” means a day other than a Saturday, Sunday, federal or New York State holiday or other day on which commercial
banks in New York City are authorized or required by law to close. 
 “Closing Date” means the date of the closing of the
IPO. 
 “Company” has the meaning set forth in the Preamble. 

“Confidential Information” means any information concerning the Company or its Subsidiaries that is furnished after the date
of this Agreement by or on behalf of the Company or its designated representatives to a Shareholder or its designated representatives, together with any notes, analyses, reports, models, compilations, studies, documents, records or extracts thereof
containing, based upon or derived from such information, in whole or in part; provided, however, that Confidential Information does not include information: 
  

	 	(i)	that is or has become publicly available other than as a result of a disclosure by a Shareholder or its designated representatives in violation of this Agreement; 

	 	(ii)	that was already known to a Shareholder or its designated representatives or was in the possession of a Shareholder or its designated representatives prior to its being furnished by or on behalf of the Company or its
designated representatives; 

  

	 	(iii)	that is received by a Shareholder or its designated representatives from a source other than the Company or its designated representatives, provided that the source of such information was not actually known by such
Shareholder or designated representative to be bound by a confidentiality agreement with, or other contractual obligation of confidentiality to, the Company; 

  

	 	(iv)	that was independently developed or acquired by a Shareholder or its designated representatives or on its or their behalf without the violation of the terms of this Agreement; or 

 

	 	(v)	that a Shareholder or its designated representatives is required, in the good faith determination of such Shareholder or designated representative, to disclose by applicable law, regulation or legal process, provided
that such Shareholder or designated representative takes reasonable steps to minimize the extent of any such required disclosure, provided further that no such steps to minimize disclosure shall be required where disclosure is made (i) in
response to a request by a regulatory or self-regulatory authority or (ii) in connection with a routine audit or examination by a bank examiner or auditor and such audit or examination does not specifically reference the Company or this
Agreement. 

 “Control” (including its correlative meanings, “Controlled by” and
“under common Control with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by
contract or otherwise) of a Person. 
 “Director” means any director of the Company from time to time. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as
the same may be amended from time to time. 
 “Governmental Authority” means any nation or government, any state or other
political subdivision thereof, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

  
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 “Identified Person” has the meaning set forth in Section 4.3(b) hereof.

 “Information” has the meaning set forth in Section 3.1 hereof. 

“IPO” has the meaning set forth in the Recitals. 

“Law” means any statute, law, regulation, ordinance, rule, injunction, order, decree, governmental approval, directive,
requirement, or other governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority. 

“Non-Employee Director” has the meaning set forth in Section 4.3(a) hereof. 

“Ordinary Shares” means the ordinary shares, par value $0.01 per share, of the Company, and any securities issued in respect
thereof, or in substitution therefor, in connection with any share split, dividend or combination, or any reclassification, recapitalization, merger, consolidation or similar transaction. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable Law, or any Governmental Authority or any department, agency or political
subdivision thereof. 
 “Plan Asset Regulation” has the meaning set forth in Section 3.3(a)
hereof. 
 “Pre-IPO Owners” means (x) the Shareholder Entities and (y) any
other holders of Ordinary Shares in issue immediately prior to the closing of the IPO and, in each case, any Affiliate of any such holder that shall become a holder of any Ordinary Shares. 

“Shareholder Designator” means the Shareholder, or any group of Shareholders collectively, then holding a majority of Ordinary
Shares held by all Shareholders. 
 “Shareholder Designee” has the meaning set forth in
Section 2.1(b) hereof. 
 “Shareholder Entities” means the Shareholders and their Affiliates and
their respective successors. 
 “Subsidiary” means, with respect to any Person, any corporation, limited liability company,
partnership, association or other business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors,
representatives or trustees thereof is at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or any combination thereof; or (ii) if a limited liability company,
partnership, association or other business entity, a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the time owned or
Controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or any combination thereof. For purposes hereof, a Person or 

  
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Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons shall (a) be
allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or (b) Control the managing member, managing director or other governing body or general partner of such limited
liability company, partnership, association or other business entity. 
 “Total Number of Directors” means the total number
of directors comprising the Board from time to time. 
 “Transfer” (including its correlative meanings,
“Transferor,” “Transferee” and “Transferred”) shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge, encumber, grant a
security interest in, offer, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any economic, voting or other rights in or to
such security. When used as a noun, “Transfer” shall have such correlative meaning as the context may require. 

“VCOC Investor” has the meaning set forth in Section 3.3(a) hereof. 

1.2 Construction. The language used in this Agreement will be deemed to be the language chosen by
the parties to express their mutual intent, and no rule of strict construction will be applied against any party. Unless the context otherwise requires: (a) “or” is disjunctive but not exclusive, (b) words in the singular
include the plural, and in the plural include the singular, and (c) the words “hereof,” “herein,” and “hereunder” and words of similar import when used in this Agreement refer to this Agreement
as a whole and not to any particular provision of this Agreement, and Section references are to this Agreement unless otherwise specified. 
 
ARTICLE II. 
 CORPORATE GOVERNANCE MATTERS 

2.1 Election of Directors. 

(a) Following the Closing Date, the Shareholder Designator shall have the right, but not the obligation, to designate, and the individuals
nominated for election as Directors by or at the direction of the Board or a duly-authorized committee thereof shall include, a number of individuals such that, following the election of any Directors and taking into account any Director continuing
to serve as such without the need for re-election, the number of Shareholder Designees (as defined below) serving as Directors of the Company will be equal to: (i) if the
Pre-IPO Owners collectively Beneficially Own 50% or more of the Ordinary Shares in issue as of the record date for such meeting, the lowest whole number that is greater than 50% of the Total Number of
Directors; (ii) if the Pre-IPO Owners collectively Beneficially Own at least 40% (but less than 50%) of the Ordinary Shares in issue as of the record date for such meeting, the lowest whole number that is
greater than 40% of the Total Number of Directors; (iii) if the Pre-IPO Owners collectively Beneficially Own at least 30% (but less than 40%) of the Ordinary Shares in issue as of the record date for such
meeting, the lowest whole number that is greater 

  
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than 30% of the Total Number of Directors; (iv) if the Pre-IPO Owners collectively Beneficially Own at least 20% (but less than 30%) of the Ordinary
Shares in issue as of the record date for such meeting, the lowest whole number that is greater than 20% of the Total Number of Directors; and (v) if the Pre-IPO Owners collectively Beneficially Own at
least 5% (but less than 20%) of the Ordinary Shares in issue as of the record date for such meeting, the lowest whole number (such number always being equal to or greater than one) that is greater than 10% of the Total Number of Directors. 

(b) If at any time the Shareholder Designator has designated fewer than the total number of individuals that the Shareholder Designator is then
entitled to designate pursuant to Section 2.1(a) hereof, the Shareholder Designator shall have the right, at any time and from time to time, to designate such additional individuals which it is entitled to so designate, in
which case, any individuals nominated by or at the direction of the Board or any duly-authorized committee thereof for election as Directors to fill any vacancy on the Board shall include such designees, and the Company shall use its best efforts to
(x) effect the election of such additional designees, whether by increasing the size of the Board or otherwise, and (y) cause the election of such additional designees to fill any such newly-created vacancies or to fill any other existing
vacancies. Each such individual whom the Shareholder Designator shall actually designate pursuant to this Section 2.1 and who is thereafter elected and qualifies to serve as a Director shall be referred to herein as a
“Shareholder Designee.” 
 (c) In the event that a vacancy is created at any time by the death, disability, retirement,
removal or resignation of any Shareholder Designee, any individual nominated by or at the direction of the Board or any duly-authorized committee thereof to fill such vacancy shall be, and the Company shall use its best efforts to cause such vacancy
to be filled, as soon as possible, by a new designee of the Shareholder Designator, and the Company shall take or cause to be taken, to the fullest extent permitted by law, at any time and from time to time, all actions necessary to accomplish the
same. 
 (d) The Company shall, to the fullest extent permitted by law, include in the slate of nominees recommended by the Board at any
meeting of shareholders called for the purpose of electing directors (or consent in lieu of meeting), the persons designated pursuant to this Section 2.1 and use its best efforts to cause the election of each such designee
to the Board, including nominating each such individual to be elected as a Director as provided herein, recommending such individual’s election and soliciting proxies or consents in favor thereof. In the event that any Shareholder Designee
shall fail to be elected to the Board at any meeting of shareholders called for the purpose of electing directors (or consent in lieu of meeting), the Company shall use its best efforts to cause such Shareholder Designee (or a new designee of the
Shareholder Designator) to be elected to the Board, as soon as possible, and the Company shall take or cause to be taken, to the fullest extent permitted by law, at any time and from time to time, all actions necessary to accomplish the same,
including, without limitation, actions to effect an increase in the Total Number of Directors. 
 (e) In addition to any vote or consent of
the Board or the shareholders of the Company required by applicable Law or the articles of association or other organizational document of the Company, and notwithstanding anything to the contrary in this Agreement, for so long as this Agreement is
in effect, any action by the Board to increase or decrease the Total 

  
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Number of Directors (other than any increase in the Total Number of Directors in connection with the election of one or more Directors elected exclusively by the holders of one or more classes or
series of the Company’s shares other than Ordinary Shares) shall require the prior written consent of the Shareholder Designator, delivered in accordance with Section 5.13 hereof. 

(f) The Company shall use reasonable endeavors to procure that the Board authorizes, in accordance with the Company’s articles of
association, any direct or indirect interest of the Shareholder Designee that conflicts, or may possibly conflict, with the interests of the Company and that arises solely in consequence of such Shareholder Designee being a director, manager,
officer, employee or member of, or partner in, any of the Shareholder Entities. The provisions of this Section 2.1(f) are not intended to apply, and do not apply, to any actual or possible conflict that may arise in consequence of such
Shareholder Designee being a director, officer or employee of any other entity that is an operating Subsidiary of any of the Shareholder Entities. 

2.2 Compensation. Except to the extent the Shareholder Designator may otherwise notify the Company, the
Shareholder Designees shall be entitled to compensation consistent with the compensation received by other non-employee Directors, including any fees and equity awards, provided that (x) to the extent any
Director compensation is payable in the form of equity awards, at the election of a Shareholder Designee, in lieu of any equity award, such compensation shall be paid in an amount of cash equal to the value of the equity award as of the date of the
award, with any such cash subject to the same vesting terms, if any, as the equity awarded to other Directors and (y) at the election of a Shareholder Designee, any Director compensation (whether cash, equity awards and/or cash in lieu of
equity as may be designated by the electing Shareholder Designee) shall be paid to a Shareholder or an Affiliate thereof specified by such Shareholder Designee rather than to such Shareholder Designee. If the Company adopts a policy that Directors
own a minimum amount of equity in the Company, Shareholder Designees shall not be subject to such policy. 
 2.3 
Other Rights of Shareholder Designees. Except as provided in Section 2.2, each Shareholder Designee serving on the Board shall be entitled to the same rights and privileges applicable to all other members of the Board generally or to
which all such members of the Board are entitled. In furtherance of the foregoing, the Company shall indemnify, exculpate, and reimburse fees and expenses of the Shareholder Designees (including by entering into an indemnification agreement in a
form substantially similar to the Company’s form director indemnification agreement) and provide the Shareholder Designees with director and officer insurance to the same extent it indemnifies, exculpates, reimburses and provides insurance for
the other members of the Board pursuant to the charter, articles of association or other organizational document of the Company, applicable law or otherwise. 

ARTICLE III. 

INFORMATION; VCOC 
 3.1 
Books and Records; Access. The Company shall, and shall cause its Subsidiaries to, keep proper books, records and accounts, in which full and correct entries shall be made of all financial transactions and the assets and business of the
Company and each of its Subsidiaries in accordance with generally accepted accounting principles. The Company shall, 

  
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and shall cause its Subsidiaries to, (a) permit the Shareholder Entities and their respective designated representatives (or other designees), at reasonable times and upon reasonable prior
notice to the Company, to review the books and records of the Company or any of such Subsidiaries and to discuss the affairs, finances and condition of the Company or any of such Subsidiaries with the officers of the Company or any such Subsidiary
and (b) provide the Shareholder Entities, in addition to other information that might be reasonably requested by such Shareholder Entities from time to time (including, without limitation, information provided to the Shareholder Entities in a
manner consistent with past practice), (i) direct access to the Company’s auditors and officers, (ii) month-end reports, in a format to be prescribed by the Shareholder Entities, to be provided
within 10 days after the end of each month or as soon thereafter as practicable, (iii) quarter-end reports, in a format to be prescribed by the Shareholder Entities, to be provided within 30 days after
the end of each quarter, (iv) the right to visit and inspect any of the offices and properties of the Company and its subsidiaries, (v) copies of all materials provided to the Company’s Board of Directors (or equivalent governing
body) at the same time as provided to the Directors (or their equivalent) of the Company, (vi) access to appropriate officers and Directors of the Company at such times as may be requested by the Shareholder Entities for consultation with the
Shareholder Entities with respect to matters relating to the business and affairs of the Company and its Subsidiaries, (vii) information in advance with respect to any significant corporate actions, including, without limitation, extraordinary
dividends, mergers, acquisitions or dispositions of assets, issuances of significant amounts of debt or equity and material amendments to the articles of association, certificate of incorporation, bylaws or other organizational document of the
Company or any of its Subsidiaries, and to provide the Shareholder Entities with the right to consult with the Company and its Subsidiaries with respect to such actions, (viii) flash data, in a format to be prescribed by the Shareholder
Entities, to be provided within 15 days after the end of each quarter or as soon thereafter as practicable and (ix) to the extent otherwise prepared by the Company, operating and capital expenditure budgets and periodic information packages
relating to the operations and cash flows of the Company and its Subsidiaries (all such information so furnished pursuant to this Section 3.1, the “Information”). The Company agrees to consider, in good faith, the
recommendations of the Shareholder Entities in connection with the matters on which the Company is consulted as described above. Subject to Section 3.5, any Shareholder Entity (and any party receiving Information from a
Shareholder Entity) who shall receive Information shall maintain the confidentiality of such Information. Notwithstanding the foregoing, that the Company shall not be required to disclose any privileged Information of the Company so long as the
Company has used commercially reasonable efforts to enter into an arrangement pursuant to which it may provide such information to the Shareholder Entities without the loss of any such privilege. 

3.2 Certain Reports. The Company shall deliver or cause to be delivered to the Shareholder
Entities, at their request: 
 (a) to the extent otherwise prepared by the Company, operating and capital expenditure budgets and periodic
information packages relating to the operations and cash flows of the Company and its Subsidiaries; and 
 (b) to the extent otherwise
prepared by the Company, such other reports and information as may be reasonably requested by the Shareholder Entities; provided, however, that 

  
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the Company shall not be required to disclose any privileged information of the Company so long as the Company has used commercially reasonable efforts to enter into an arrangement pursuant to
which it may provide such information to the Shareholder Entities without the loss of any such privilege. 
 3.3 
VCOC.
 (a) With respect to each Shareholder Entity that is intended to qualify its direct or indirect investment in the Company as a
“venture capital investment” as defined in the Department of Labor regulations codified at 29 CFR Section 2510.3-101 (the “Plan Asset Regulation”) (each, a “VCOC
Investor”), for so long as the VCOC Investor, directly or through one or more subsidiaries, continues to hold any Ordinary Shares (or other securities of the Company into which such Ordinary Shares may be converted or for which such
Ordinary Shares may be exchanged), without limitation or prejudice of any the rights provided to the Shareholder Entities hereunder, the Company shall, with respect to each such VCOC Investor: 

(i) provide each VCOC Investor or its designated representative with: 

 

	 	(A)	upon reasonable notice and at mutually convenient times, the right to visit and inspect any of the offices and properties of the Company and its Subsidiaries and inspect and copy the books and records of the Company and
its Subsidiaries; 

  

	 	(B)	as soon as available and in any event within 45 days after the end of each of the first three quarters of each fiscal year of the Company, consolidated balance sheets of the Company and its Subsidiaries as of the end of
such period, and consolidated statements of income and cash flows of the Company and its Subsidiaries for the period then ended prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis,
except as otherwise noted therein, and subject to the absence of footnotes and to year-end adjustments; 

  

	 	(C)	as soon as available and in any event within 120 days after the end of each fiscal year of the Company, a consolidated balance sheet of the Company and its Subsidiaries as of the end of such year, and consolidated
statements of income and cash flows of the Company and its Subsidiaries for the year then ended prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis, except as otherwise noted
therein, together with an auditor’s report thereon of a firm of established national reputation; 

  
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	 	(D)	to the extent the Company is required by law or pursuant to the terms of any outstanding indebtedness of the Company to prepare such reports, any annual reports, quarterly reports and other periodic reports pursuant to
Section 13 or 15(d) of the Exchange Act, actually prepared by the Company as soon as available; and 

  

	 	(E)	upon written request by the VCOC Investor, copies of all materials provided to the Board, subject to appropriate protections with respect to confidentiality and preservation of attorney-client privilege;

 provided that, in each case, if the Company makes the information described in clauses (B), (C) and
(D) of this Section 3.3(a)(i) available through public filings on the EDGAR System or any successor or replacement system of the U.S. Securities and Exchange Commission, the requirement to deliver such
information shall be deemed satisfied; 
 (ii) make appropriate officers and/or Directors of the Company available, and cause
the officers and directors of its Subsidiaries to be made available, periodically and at such times as reasonably requested by each VCOC Investor, upon reasonable notice and at mutually convenient times, for consultation with such VCOC Investor or
its designated representative with respect to matters relating to the business and affairs of the Company and its Subsidiaries; 

(iii) to the extent that the VCOC Investor requests to receive such information and rights, and to the extent consistent with
applicable Law or listing standards (and with respect to events which require public disclosure, only following the Company’s public disclosure thereof through applicable securities law filings or otherwise), inform each VCOC Investor or its
designated representative in advance with respect to any significant corporate actions, and to provide (or cause to be provided) each VCOC Investor or its designated representative with the right to consult with the Company and its Subsidiaries with
respect to such actions should the VCOC Investor elect to do so; provided, however, that this right to consult must be exercised within five days after the Company informs the VCOC Investor of the proposed corporate action;
provided, further, that the Company shall be under no obligation to provide the VCOC Investor with any material non-public information with respect to such corporate action; and 

(iv) provide each VCOC Investor or its designated representative with such other rights of consultation which the VCOC
Investor’s counsel may determine in writing to be reasonably necessary under applicable legal authorities promulgated after the date hereof to qualify its investment in the Company as a “venture capital investment” for purposes of the
Plan Asset Regulation; provided that the parties agree that any such rights of consultation shall be of a nature 

  
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consistent with those granted above and nothing in this Agreement shall be deemed to require the Company to grant to the VCOC Investor any additional rights with respect to the governance or
management of the Company. 
 (b) The Company agrees to consider, in good faith, the recommendations of each VCOC Investor or its designated
representative in connection with the matters on which it is consulted as described above in this Section 3.3, recognizing that the ultimate discretion with respect to all such matters shall be retained by the Company. 

(c) In the event a VCOC Investor or any of its Affiliates Transfers all or any portion of their investment in the Company to an Affiliated
entity that is intended to qualify its investment in the Company as a “venture capital investment” (as defined in the Plan Asset Regulation), such Transferee shall be afforded the same rights with respect to the Company afforded to the
VCOC Investor hereunder and shall be treated, for such purposes, as a third party beneficiary hereunder. 
 (d) In the event that the Company
ceases to qualify as an “operating company” (as defined in the first sentence of 2510.3-101(c)(1) of the Plan Asset Regulation), or the investment in the Company by a VCOC Investor does not qualify
as a “venture capital investment” as defined in the Plan Asset Regulation, then the Company and each Shareholder Entity will cooperate in good faith and take all reasonable actions necessary, subject to applicable Law, to preserve the VCOC
status of each VCOC Investor or the qualification of the investment as a “venture capital investment,” it being understood that such reasonable actions shall not require a VCOC Investor to purchase or sell any investments. 

(e) For so long as the VCOC Investor, directly or through one or more subsidiaries, continues to hold any Ordinary Shares (or other securities
of the Company into which such Ordinary Shares may be converted or for which such Ordinary Shares may be exchanged) and upon the written request of such VCOC Investor, without limitation or prejudice of any the rights provided to the Shareholder
Entities hereunder, the Company shall, with respect to each such VCOC Investor, furnish and deliver a letter covering the matters set forth in Sections 3.3(a), 3.3(b), 3.3(c) and 3.3(d) hereof in a form and substance
satisfactory to such VCOC Investor. 
 (f) In the event a VCOC Investor is an Affiliate of a Shareholder Entity, as described in
Section 3.3(a) above, such affiliated entity shall be afforded the same rights with respect to the Company and afforded to the Shareholder Entity under this Section 3.3 and shall be treated, for such purposes, as a
third party beneficiary hereunder. 
 3.4 Confidentiality. Each Shareholder agrees that it will, and
will direct its designated representatives to, keep confidential and not disclose any Confidential Information; provided, however, that such Shareholder and its designated representatives may disclose Confidential Information to the
other Shareholders, to the Shareholder Designees and to (a) its and its affiliates’ attorneys, accountants, consultants, insurers, financing sources and other advisors in connection with such Shareholder’s investment in the Company,
(b) any Person, including a prospective purchaser of Ordinary Shares, as long as such Person has agreed to maintain the confidentiality of such Confidential Information, (c) any of such Shareholder’s or

  
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its respective Affiliates’ partners, members, stockholders, directors, officers, employees or agents in the ordinary course of business (the Persons referenced in clauses (a), (b) and (c), a
Shareholder’s “designated representatives”) or (d) as the Company may otherwise consent in writing; provided, further, however, that each Shareholder agrees to be responsible for any breaches of this
Section 3.4 by such Shareholder’s designated representatives. 
 3.5
Information Sharing. Each party hereto acknowledges and agrees that Shareholder Designees may share any information concerning the Company and its Subsidiaries received by them from or on behalf of the Company
or its designated representatives with each Shareholder and its designated representatives (subject to such Shareholder’s obligation to maintain the confidentiality of Confidential Information in accordance with
Section 3.4). 
 ARTICLE IV. 

ADDITIONAL COVENANTS 
 4.1 
Pledges. Upon the request of any Shareholder Entity that wishes to pledge, hypothecate or grant security interests in any or all of the Ordinary Shares held by it, including to banks or financial institutions as collateral or security
for loans, advances or extensions of credit, the Company agrees to cooperate with each such Shareholder Entity in taking any action reasonably necessary to consummate any such pledge, hypothecation or grant, including without limitation, delivery of
letter agreements to lenders in form and substance reasonably satisfactory to such lenders (which may include agreements by the Company in respect of the exercise of remedies by such lenders) and instructing the transfer agent to transfer any such
Ordinary Shares subject to the pledge, hypothecation or grant into the facilities of The Depository Trust Company without restricted legends. 

4.2 Spin-Offs or Split-Offs. In the event that the Company effects the separation of any portion of its
business into one or more entities (each, a “NewCo”), whether existing or newly formed, including without limitation by way of spin-off, split-off, carve-out, demerger, recapitalization, reorganization or similar transaction, and any Shareholder will receive equity interests in any such NewCo as part of such separation, the Company shall cause any such NewCo to
enter into a shareholders agreement with the Shareholders that provides the Shareholder Entities with rights vis-á -vis such NewCo that are substantially
identical to those set forth in this Agreement. 
 4.3 Corporate Opportunity. 

(a) In recognition and anticipation that (i) certain directors, principals, officers, employees and/or other representatives of the
Shareholders may serve as directors, officers or agents of the Company, (ii) the Shareholders and their Affiliates may now engage and may continue to engage in the same or similar activities or related lines of business as those in which the
Company and/or any of its Subsidiaries, directly or indirectly, may engage and/or other business activities that overlap with or compete with those in which the Company and/or any of its Subsidiaries, directly or indirectly, may engage, and
(iii) members of the Board who are not employees of the Company (“Non-Employee Directors”) and their respective Affiliates may now engage and may continue to engage in the same or similar
activities or related lines of business as those in which the Company and/or any of its Subsidiaries, directly or indirectly, 

  
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may engage and/or other business activities that overlap with or compete with those in which the Company and/or any of its Subsidiaries, directly or indirectly, may engage, the provisions of
Section 4.3 of this Agreement are set forth to regulate and define the conduct of certain affairs of the Company with respect to certain classes or categories of business opportunities as they may involve any of the Shareholders, the Non-Employee Directors or their respective Affiliates and the powers, rights, duties and liabilities of the Company and its directors, officers and stockholders in connection therewith. 

(b) None of (i) the Shareholders or any of their respective Affiliates or (ii) any
Non-Employee Director (including any Non-Employee Director who serves as an officer of the Company in both his or her director and officer capacities) or his or her
Affiliates (the Persons identified in (i) and (ii) above being referred to, collectively, as “Identified Persons” and, individually, as an “Identified Person”) shall, to the fullest extent permitted by law,
have any duty to refrain from directly or indirectly (1) engaging in the same or similar business activities or lines of business in which the Company or any of its Affiliates now engages or proposes to engage or (2) otherwise competing
with the Company or any of its Affiliates, and, to the fullest extent permitted by law, no Identified Person shall be liable to the Company or its shareholders or to any Affiliate of the Company for breach of any fiduciary duty solely by reason of
the fact that such Identified Person engages in any such activities. To the fullest extent permitted by law, the Company hereby renounces any interest or expectancy in, or right to be offered an opportunity to participate in, any business
opportunity which may be a corporate opportunity for an Identified Person and the Company or any of its Affiliates. In the event that any Identified Person acquires knowledge of a potential transaction or other business opportunity which may be a
corporate opportunity for itself, herself or himself and the Company or any of its Affiliates, such Identified Person shall, to the fullest extent permitted by law, have no duty to communicate or offer such transaction or other business opportunity
to the Company or any of its Affiliates and, to the fullest extent permitted by law, shall not be liable to the Company or its shareholders or to any Affiliate of the Company for breach of any fiduciary duty as a shareholder, director or officer of
the Company solely by reason of the fact that such Identified Person pursues or acquires such corporate opportunity for itself, herself or himself, or offers or directs such corporate opportunity to another Person. 

(c) In addition to and notwithstanding the foregoing provisions of this Section 4.3, a corporate opportunity shall not be deemed to be a
potential corporate opportunity for the Company if it is a business opportunity that (i) the Company is neither financially or legally able, nor contractually permitted to undertake, (ii) from its nature, is not in the line of the
Company’s business or is of no practical advantage to the Company or (iii) is one in which the Company has no interest or reasonable expectancy. 

(d) To the fullest extent permitted by law, any Person purchasing or otherwise acquiring any interest in any shares in the capital of the
Company shall be deemed to have notice of and to have consented to the provisions of Section 4.3. 

  
 12 

 ARTICLE V. 

GENERAL PROVISIONS 
 5.1 
Termination. Except for Section 3.3 hereof, this Agreement shall terminate on the earlier to occur of (i) such time as the Shareholder Designator is no longer entitled to designate a Director pursuant to
Section 2.1(a) hereof and (ii) the delivery of a written notice by the Shareholder Designator to the Company requesting that this Agreement terminate. The VCOC Investors shall advise the Company when they collectively
first cease to beneficially own any Ordinary Shares (or other securities of the Company into which such Ordinary Shares may be converted or for which such Ordinary Shares may be exchanged), whereupon Section 3.3 hereof
shall terminate. 
 5.2 Notices. Any notice, designation, request, request for consent or
consent provided for in this Agreement shall be in writing and shall be either personally delivered, sent by facsimile or sent by reputable overnight courier service (charges prepaid) to the Company at the address set forth below and to any other
recipient at the address indicated on the Company’s records, or at such address or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. Notices and other such documents will be
deemed to have been given or made hereunder when delivered personally or sent by facsimile (receipt confirmed) and one (1) Business Day after deposit with a reputable overnight courier service. 

The Company’s address is: 

Gates Industrial Corporation plc 

1551 Wewatta Street 
 Denver,
Colorado 80202 
 Attention: General Counsel 

Each Shareholder address is: 
 The
Blackstone Group L.P. 
 345 Park Avenue 

New York, New York 10154 

Attention: Neil P. Simpkins 
 Fax:
(212) 583-5712 
 5.3 Amendment; Waiver. This Agreement
may be amended, supplemented or otherwise modified only by a written instrument executed by the Company and the other parties hereto. Neither the failure nor delay on the part of any party hereto to exercise any right, remedy, power or privilege
under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor shall
any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is
signed by the party asserted to have granted such waiver. 

  
 13 

 5.4 Further Assurances. The parties hereto will sign
such further documents, cause such meetings to be held, resolutions passed, exercise their votes and do and perform and cause to be done such further acts and things necessary, proper or advisable in order to give full effect to this Agreement and
every provision hereof. To the fullest extent permitted by law, the Company shall not directly or indirectly take any action that is intended to, or would reasonably be expected to result in, the Shareholder or any Shareholder Entity being deprived
of the rights contemplated by this Agreement. 
 5.5 Assignment. This Agreement may not be
assigned without the express prior written consent of the other parties hereto, and any attempted assignment, without such consents, will be null and void; provided, however, that, without the prior written consent of any other party
hereto, a Shareholder may assign its rights and obligations under this Agreement, in whole or in part, to any Transferee of Ordinary Shares, so long as such Transferee, if not already a party to this Agreement, executes and delivers to the Company a
joinder to this Agreement evidencing its agreement to become a party to and to be bound by certain or all, as applicable, of the provisions of this Agreement as a Shareholder hereunder, whereupon such Transferee shall be deemed a
“Shareholder” hereunder. This Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors and permitted assigns. 

5.6 Third Parties. Except as provided for in Article II, Article III and Article
IV with respect to any Shareholder Entity, this Agreement does not create any rights, claims or benefits inuring to any person that is not a party hereto nor create or establish any third party beneficiary hereto. 

5.7 Governing Law. THIS AGREEMENT AND ITS ENFORCEMENT AND ANY CONTROVERSY ARISING OUT OF OR
RELATING TO THE MAKING OR PERFORMANCE OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO NEW YORK’S PRINCIPLES OF CONFLICTS OF LAW. 

5.8 Jurisdiction; Waiver of Jury Trial. Each party hereto hereby (i) agrees that any action,
directly or indirectly, arising out of, under or relating to this Agreement shall exclusively be brought in and shall exclusively be heard and determined by either the Supreme Court of the State of New York sitting in Manhattan or the United States
District Court for the Southern District of New York, and (ii) solely in connection with the action(s) contemplated by subsection (i) hereof, (A) irrevocably and unconditionally consents and submits to the exclusive jurisdiction of the
courts identified in subsection (i) hereof, (B) irrevocably and unconditionally waives any objection to the laying of venue in any of the courts identified in clause (i) of this Section 5.8, (C) irrevocably and
unconditionally waives and agrees not to plead or claim that any of the courts identified in such clause (i) is an inconvenient forum or does not have personal jurisdiction over any party hereto, and (D) agrees that mailing of process or
other papers in connection with any such action in the manner provided herein or in such other manner as may be permitted by applicable law shall be valid and sufficient service thereof. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM OR ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE SERVICES CONTEMPLATED HEREBY. 

  
 14 

 5.9 Specific Performance. Each party hereto
acknowledges and agrees that in the event of any breach of this Agreement by any of them, the other parties hereto would be irreparably harmed and could not be made whole by monetary damages. Each party accordingly agrees to waive the defense in any
action for specific performance that a remedy at law would be adequate and agrees that the parties, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to specific performance of this Agreement
without the posting of a bond. 
 5.10 Entire Agreement. This Agreement sets forth the entire
understanding of the parties hereto with respect to the subject matter hereof. There are no agreements, representations, warranties, covenants or understandings with respect to the subject matter hereof or thereof other than those expressly set
forth herein and therein. This Agreement supersedes all other prior agreements and understandings between the parties with respect to such subject matter. 

5.11 Severability. If any provision of this Agreement, or the application of such provision to any
Person or circumstance or in any jurisdiction, shall be held to be invalid or unenforceable to any extent, (i) the remainder of this Agreement shall not be affected thereby, and each other provision hereof shall be valid and enforceable to the
fullest extent permitted by law, (ii) as to such Person or circumstance or in such jurisdiction such provision shall be reformed to be valid and enforceable to the fullest extent permitted by law, and (iii) the application of such
provision to other Persons or circumstances or in other jurisdictions shall not be affected thereby. 
 5.12
Table of Contents, Headings and Captions. The table of contents, headings, subheadings and captions contained in this Agreement are included for convenience of reference only, and in no way define, limit
or describe the scope of this Agreement or the intent of any provision hereof. 
 5.13 Grant of
Consent. Any vote, consent or approval of, or designation by, or other action of, the Shareholder Designator hereunder shall be effective if notice of such vote, consent, approval, designation or action is provided in accordance with
Section 5.2 hereof by the Shareholder Party or Parties holding of record a majority of the Ordinary Shares then held of record by Shareholder Parties as of the latest date any such notice is so provided. 

5.14 Counterparts. This Agreement and any amendment hereto may be signed in any number of separate
counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one Agreement (or amendment, as applicable). 

5.15 Effectiveness. This Agreement shall become effective upon the Closing Date. 

5.16 No Recourse. This Agreement may only be enforced against, and any claims or cause of action
that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement, the transactions contemplated hereby 

  
 15 

 
or the subject matter hereof may only be made against the parties hereto and no past, present or future Affiliate, director, officer, employee, incorporator, member, manager, partner,
shareholder, agent, attorney or representative of any party hereto or any past, present or future Affiliate, director, officer, employee, incorporator, member, manager, partner, stockholder, agent, attorney or representative of any of the foregoing
(each, a “Non-Recourse Party”) shall have any liability for any obligations or liabilities of the parties to this Agreement or for any claim based on, in respect of, or by reason of, the
transactions contemplated hereby. Without limiting the rights of any party against the other parties hereto, in no event shall any party or any of its Affiliates seek to enforce this Agreement against, make any claims for breach of this Agreement
against, or seek to recover monetary damages from, any Non-Recourse Party. 
 [Remainder of Page
Intentionally Left Blank] 

  
 16 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written. 

 

			
	
	 COMPANY
  

GATES INDUSTRIAL CORPORATION PLC

		
	By:	 	 /s/ Jamey Seely

	Name:	 	Jamey Seely
	Title:	 	Executive Vice President, General Counsel and Corporate Secretary

 [Signature Page to Gates Industrial Corporation plc Shareholders’ Agreement] 

 
			
	BLACKSTONE PARTIES:
	
	BLACKSTONE CAPITAL PARTNERS (CAYMAN) VI L.P.
	By:	 	Blackstone Management Associates (Cayman) VI L.P., its general partner
	By:	 	BCP VI GP L.L.C., its general partner
		
	By:	 	 /s/ Julia Kahr

	Name:	 	Julia Kahr
	Title:	 	Senior Managing Director

  

			
	BLACKSTONE FAMILY INVESTMENT PARTNERSHIP (CAYMAN) VI – ESC L.P.
	By:	 	BCP VI GP L.L.C., its general partner
		
	By:	 	 /s/ Julia Kahr

	Name:	 	Julia Kahr
	Title:	 	Senior Managing Director

  

			
	BTO OMAHA HOLDINGS L.P.
	By:	 	BTO Omaha Manager L.L.C., its general partner
		
	By:	 	 /s/ Christopher J. James

	Name:	 	Christopher J. James
	Title:	 	Authorized Signatory

  

			
	BLACKSTONE GTS CO-INVEST L.P.
	By:	 	Blackstone Management Associates (Cayman) VI L.P., its general partner
	By:	 	BCP VI GP L.L.C., its general partner
		
	By:	 	 /s/ Julia Kahr

	Name:	 	Julia Kahr
	Title:	 	Senior Managing Director

 [Signature Page to Gates Industrial Corporation plc Shareholders’ Agreement]EX-10.2

 Exhibit 10.2 

REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (as amended from time to time, this “Agreement”) is dated as of January 29, 2018,
and is between Gates Industrial Corporation plc, a public limited company organized under the laws of England and Wales (the “Company”), and the Blackstone Parties (as defined below). 

ARTICLE I 
 DEFINITIONS

 In this Agreement: 

“Blackstone Parties” means, collectively (i) Blackstone Capital Partners (Cayman) VI L.P., an exempted limited
partnership organized under the laws of the Cayman Islands, (ii) Blackstone GTS Co-Invest L.P., an exempted limited partnership organized under the laws of the Cayman Islands, (iii) BTO Omaha Holdings L.P., an exempted limited partnership
organized under the laws of the Cayman Islands, (iv) Blackstone Family Investment Partnership (Cayman) VI – ESC L.P., an exempted limited partnership organized under the laws of the Cayman Islands, and (v) each transferee to whom such
Blackstone Party transfers shares and related rights under this Agreement in accordance with Section 6.1 and their affiliated private equity funds, co-invest and side-by-side entities, and other affiliated investment vehicles that hold shares,
as defined below. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“IPO” means the firm commitment underwritten registered public offering of the Company’s shares in connection with
which the shares first becomes listed on the NYSE or The NASDAQ Stock Market. 
 “Securities Act” means the
Securities Act of 1933, as amended. 
 “Shareholders” means collectively, the Blackstone Parties, and individually, a
“Shareholder”. References to a Shareholder include all of its affiliated private equity funds, co-invest and side-by-side entities, and other affiliated investment vehicles that hold shares. References to Shareholders also
include each transferee to whom such Shareholder transfers shares and related rights under this Agreement in accordance with Section 6.1. 

“shares” means the ordinary shares, par value $0.01 per share, of the Company. Shares held by or on behalf of a
Shareholder which are not subject to a Securities Act restrictive legend, which shares may be resold freely without registration under the Securities Act and without limitation on volume or manner of sale, will not be considered shares for purposes
of the demand and piggyback provisions of this Agreement, provided that, notwithstanding the absence of any such legend, shares held by any Shareholder that, together with its affiliates, is required to file or to be named in a report on
Schedule 13D or 13G under the Exchange Act shall continue to be treated as shares for purposes of this Agreement. 

 “WKSI” means a well-known seasoned issuer, as defined in the SEC’s
Rule 405. 
 ARTICLE II 

DEMAND AND PIGGYBACK RIGHTS 

2.1 Right to Demand a Non-Shelf Registered Offering. Upon the demand of one or more of the Blackstone Parties made at any
time and from time to time, the Company will facilitate in the manner described in this Agreement a non-shelf registered offering and sale of the shares requested by the demanding Blackstone Parties to be included in such offering, together with any
piggyback shares, as described below. Any demanded non-shelf registered offering may, at the Company’s option, include shares to be sold by the Company for its own account and will also include shares to be sold by Shareholders that exercise
their related piggyback rights in accordance with this Agreement. 
 2.2 Right to Piggyback on a Non-Shelf Registered
Offering. In connection with any registered offering of shares covered by a non-shelf registration statement (whether pursuant to the exercise of demand rights or at the initiative of the Company), the Shareholders may, in accordance with
this Agreement, exercise piggyback rights to have included in such offering shares held by them. 
 2.3 Right to Demand and be
Included in a Shelf Registration. Upon the demand of the Blackstone Parties made at any time and from time to time when the Company is eligible to sell shares in a secondary offering on a delayed or continuous basis in accordance with Rule
415, the Company will facilitate in the manner described in this Agreement a shelf registration of shares held by the Blackstone Parties. Any shelf registration filed by the Company covering shares (whether pursuant to a Blackstone Party demand or
at the initiative of the Company) will cover shares held by each of the Shareholders up to the highest common percentage of their original respective holdings as may be agreed upon by the demanding Blackstone Parties. If at the time of such request
the Company is a WKSI, such shelf registration would, at the request of a majority of the Blackstone Parties, cover an unspecified number of shares to be sold by the Company and its Shareholders. 

2.4 Demand and Piggyback Rights for Shelf Takedowns. Upon the demand of one or more of the Blackstone Parties made at any time
and from time to time, the Company will facilitate in the manner described in this Agreement a “takedown” off of an effective shelf registration statement of shares held by them that are registered on such shelf. In connection with any
shelf takedown (whether pursuant to the exercise of such demand rights or at the initiative of the Company) in connection with which a lockup will be imposed, the Shareholders may exercise piggyback rights to have included in such takedown shares
held by them that are registered on such shelf. 
 2.5 Right to Reload a Shelf. Upon the written request of the Blackstone
Parties, the Company will file and seek the effectiveness of a post-effective amendment to an existing shelf in order to register up to the number of shares previously taken down off of such shelf by the Blackstone Parties and not yet
“reloaded” onto such shelf (or such higher number as may be agreed by the Blackstone Parties). The Shareholders and the Company will consult and coordinate with each other in order to accomplish such replenishments on behalf of all
Shareholders from time to time in a sensible manner. 

  
 2 

 2.6 Limitations on Demand and Piggyback Rights. 

(a) Any demand for the filing of a registration statement or for a registered offering or takedown will be subject to any applicable lockup
restrictions, and such demand must be deferred until such lockup restrictions expire, are waived or otherwise no longer apply. If a demand has been made for a non-shelf registered offering or for an underwritten takedown, no further demands may be
made so long as the related offering is still being pursued. Notwithstanding anything in this Agreement to the contrary, the Shareholders will not have piggyback rights with respect to registered primary offerings by the Company (i) of shares
covered by a Form S-8 registration statement or a successor form applicable to employee benefit-related offers and sales or any registration statement filed solely to cover issuances pursuant to a dividend reinvestment plan, (ii) where the
shares are not being sold for cash or (iii) where the offering is a bona fide offering of securities other than shares, even if such securities are convertible into or exchangeable or exercisable for shares that are registered as part of such
offering. 
 (b) The Company may defer the filing of a demanded registration statement or the facilitation of a registered offering or
demanded shelf takedown, in any such case for a reasonable “blackout period” that shall not exceed the applicable limits specified below if the board of directors of the Company determines that such registration, offering or takedown could
materially interfere with a bona fide business or financing transaction of the Company or is reasonably likely to require premature disclosure of information, the premature disclosure of which could materially and adversely affect the Company. The
blackout period will end upon the earlier to occur of, (i) in the case of a bona fide business or financing transaction, a date not later than 90 days from the date such deferral commenced, and (ii) in the case of disclosure of non-public
information, the earlier to occur of (x) the filing by the Company of its next succeeding Form 10-K or Form 10-Q, or (y) the date upon which such information otherwise is or becomes public knowledge. 

ARTICLE III 
 PROCEDURES
REGARDING DEMANDS AND PIGGYBACKS 
 3.1 Notifications Regarding Demands and Piggyback Opportunities. In order for the
Blackstone Parties to exercise their right to demand that a registration statement be filed or that an underwritten takedown occur, they must so notify the Company indicating the number of shares sought to be registered or taken down and the
proposed plan of distribution. The Company will keep the Shareholders contemporaneously apprised of all pertinent aspects of its pursuit of any registration or underwritten shelf takedown of shares, as the case may be (whether pursuant to a
Blackstone Party demand or otherwise), including the anticipated timing of the filing of a registration statement or amendment and the finalization of related preliminary and final prospectuses and the timing of pricing, in order that the
Shareholders have a reasonable opportunity to exercise their piggyback rights in accordance with this Agreement. Without derogating from the Company’s obligation to keep Shareholders contemporaneously apprised, as 

  
 3 

 
described above, having such a “reasonable opportunity” means that Shareholders must be notified of a piggyback opportunity no later than three full trading days prior to the applicable
piggyback deadline referred to in Section 3.2. Pending any required public disclosure and subject to applicable legal requirements, the parties will maintain the confidentiality of these discussions and notifications. 

3.2 Notifications Regarding Exercise of Piggyback Rights. Any Shareholder wishing to exercise its piggyback rights with respect
to a non-shelf registration statement or underwritten shelf takedown must notify the Company and the other Shareholders of the number of shares it seeks to have included in such registration statement or takedown, as the case may be. Such notice
must be given as soon as practicable, but in no event later than 4:30 pm, New York City time, on the second trading day (in the case of a non-shelf offering) or on the trading day (in the case of an underwritten shelf takedown) prior to, (i) if
applicable, the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with pre-effective marketing efforts for the relevant offering is expected to be finalized, and (ii) in any case, the date on
which the pricing of the relevant offering is expected to occur. Pending any required public disclosure and subject to applicable legal requirements, the parties will maintain the confidentiality of these notifications. 

3.3 Plan of Distribution, Underwriters, Advisors and Counsel. If a majority of the shares proposed to be sold in an underwritten
offering through a non-shelf registration statement or through a shelf takedown is being sold by the Company for its own account, the Company will be entitled to determine the plan of distribution and select the managing underwriters for such
offering. Otherwise, Shareholders holding a majority of the shares requested to be included in such offering will be entitled to determine the plan of distribution and select the managing underwriters and any provider of capital markets advisory
services, which may include affiliates of the Shareholders, and such majority will also be entitled to select counsel for the selling Shareholders (which may be the same as counsel for the Company). In the case of a shelf registration statement, the
plan of distribution will provide as much flexibility as is reasonably possible, including with respect to resales by transferee Shareholders. 

3.4 Cutbacks. If the managing underwriters advise the Company and the selling Shareholders that, in their opinion, the number of
shares requested to be included in an underwritten offering exceeds the amount that can be sold in such offering without adversely affecting the distribution of the shares being offered, such offering will include only the number of shares that the
underwriters advise can be sold in such offering without such adverse effect. The selling Shareholders and the Company, to the extent it is selling shares in the offering, will be subject to cutback pro rata based on the respective number of shares
initially requested by them to be included in such offering, without regard to who initiated or otherwise made the demand for such offering. Except as contemplated by Section 6.1(c), other selling Shareholders (other than transferees to whom a
Shareholder has assigned its rights under this Agreement) will be included in an underwritten offering as to which such a cutback has been applied only with the consent of Shareholders holding a majority of the shares being sold in such offering.

 3.5 Withdrawals. Even if shares held by a Shareholder have been part of a registered underwritten offering, such
Shareholder may, no later than the time at which the public offering price and underwriters’ discount are determined with the managing underwriter, decline to sell all or any portion of the shares being offered for its account. 

  
 4 

 3.6 Lockups. In connection with any underwritten offering of shares, the Company
and each Shareholder will (in the case of Shareholders, with respect to shares respectively held by them) enter into the applicable underwriting agreement so as to be bound by such agreement’s lockup restrictions (which must apply in like
manner to all of them) that are agreed to (a) by the Company, if a majority of the shares being sold in such offering are being sold for its account, or (b) by Shareholders holding a majority of the shares being sold in such offering by
Shareholders, if a majority of the shares being sold in such offering are being sold by Shareholders, as applicable. Even in the absence of any Shareholder entering into any such underwriting agreement, such Shareholder agrees to be bound by the
lockup restrictions set forth therein applicable to other Shareholders. Pending the signing of the applicable underwriting agreement, from the point at which a Shareholder receives notice or otherwise becomes aware that the Company intends to pursue
an underwritten registered public offering of shares with respect to which a piggyback opportunity will apply pursuant to this Agreement and until the applicable underwriting agreement is entered into or such offering is abandoned, each Shareholder
agrees to be bound by the same restrictions on transfer as were applicable under the underwriting agreement applicable to the Company’s IPO. The lockup restrictions in any such underwriting agreement will be for a customary period specified by
the managing underwriters or underwriters not to exceed 90 days following the consummation of any registered public sale of shares by the Company. The Company shall cause its executive officers and directors (and managers, if applicable) and shall
use commercially reasonable efforts to cause other holders of shares who beneficially own (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the date of this Agreement) any of the shares participating in such
offering, to enter into lockup agreements that contain restrictions that are no less restrictive than the restrictions contained in the lockup agreements executed by the Shareholders. 

ARTICLE IV 

FACILITATING REGISTRATIONS AND OFFERINGS 

4.1 General. If the Company becomes obligated under this Agreement to facilitate a registration and offering of shares on behalf
of Shareholders, the Company will do so with the same degree of care and dispatch as would reasonably be expected in the case of a registration and offering by the Company of shares for its own account. Without limiting this general obligation, the
Company will fulfill its specific obligations as described in this Article IV. 
 4.2 Registration Statements. In connection
with each registration statement that is demanded by the Blackstone Parties in accordance with this Agreement or as to which piggyback rights apply, the Company will: 

(a) (i) prepare and file with the SEC a registration statement covering the applicable shares, (ii) file amendments thereto as warranted,
(iii) seek the effectiveness thereof, and (iv) file with the SEC prospectuses and prospectus supplements as may be required, all in consultation with the Shareholders and as reasonably necessary in order to permit the offer and sale of the
such shares in accordance with the applicable plan of distribution; 

  
 5 

 (b) (i) within a reasonable time prior to the filing of any registration statement, any
prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus, provide copies of such documents to the selling Shareholders and to the underwriter or underwriters of an underwritten
offering, if applicable, and to their respective counsel; fairly consider such reasonable changes to any such documents prior to or after the filing thereof as the counsel to the Shareholders or the underwriter or the underwriters may request; and
make such of the representatives of the Company as shall be reasonably requested by the selling Shareholders or any underwriter available for discussion of such documents; and 

(ii) if requested by the Shareholders, within a reasonable time prior to the filing of any document which is to be incorporated or deemed
incorporated by reference into a registration statement or a prospectus, provide copies of such document to counsel for the Shareholders and underwriters; fairly consider such reasonable changes in such document prior to or after the filing thereof
as counsel for such Shareholders or such underwriter shall request; and make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of such document; 

(c) use all reasonable efforts to cause each registration statement and the related prospectus and any amendment or supplement thereto, as of
the effective date of such registration statement, amendment or supplement and during the distribution of the registered shares, (x) to comply in all material respects with the requirements of the Securities Act and the rules and regulations of
the SEC and (y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; 

(d) promptly notify each Shareholder, its respective counsel and the sole underwriter or managing underwriter, if any, and, if requested by
such Shareholder, confirm such notice in writing, (i) when any registration statement, any prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus has been filed, when a
registration statement has become effective and when any post-effective amendments and supplements thereto become effective if such registration statement or post-effective amendment is not automatically effective upon filing pursuant to Rule 462,
(ii) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to a registration statement or related prospectus or for additional information, (iii) of the issuance by the SEC or any
state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of a registration statement or the initiation of any proceedings for that purpose, (iv) if, between the effective date of a
registration statement and the expiration or earlier closing of any over-allotment option under any underwriting, placement or purchase agreement to which the Company is a party, the representations and warranties of the Company contained in such
agreement cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension of the qualification of the shares for sale in any jurisdiction or the initiation of any proceeding for

  
 6 

 
such purpose, and (v) of the happening of any event during the period a registration statement is effective as a result of which such registration statement or the related prospectus
contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading; 

(e) promptly furnish counsel for each underwriter, if any, and for the Shareholders copies of any correspondence with the SEC or any state
securities authority relating to the registration statement or prospectus (for the avoidance of doubt, including, but not limited to, any comment letters received from the SEC or any state securities authority); 

(f) otherwise use all reasonable efforts to comply with all applicable rules and regulations of the SEC, including making available to its
security holders an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar provision then in force); 

(g) use all reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a registration statement at the earliest
possible time; and 
 (h) provide and cause to be maintained (i) a transfer agent and registrar for all shares covered by a registration
statement from and after a date not later than the effective date of such registration statement and (ii) a depositary and a depositary nominee, if applicable, for any depositary receipts representing all shares covered by a registration
statement. 
 4.3 Non-Shelf Registered Offerings and Shelf Takedowns. In connection with any non-shelf registered offering or
shelf takedown that is demanded by the Blackstone Parties or with respect to which piggyback rights have been exercised, the Company will: 

(a) cooperate with the Shareholders selling shares and the sole underwriter or managing underwriter of an underwritten offering, if any, to
facilitate the timely preparation and delivery of certificates representing the shares to be sold and not bearing any restrictive legends; and enable such shares to be in such denominations (consistent with the provisions of the governing documents
thereof) and registered in such names as the selling Shareholders or the sole underwriter or managing underwriter of an underwritten offering, if any, may reasonably request at least five days prior to any sale of such shares; 

(b) furnish to each Shareholder and to each underwriter, if any, participating in the relevant offering, without charge, as many copies of the
applicable prospectus, including each preliminary prospectus, and any amendment or supplement thereto, and such other documents as such Shareholder or underwriter may reasonably request in order to facilitate the public sale or other disposition of
the shares; the Company hereby consents to the use of the prospectus, including each preliminary prospectus, by each such Shareholder and underwriter in connection with the offering and sale of the shares covered by the prospectus or the preliminary
prospectus; 
 (c) (i) use all reasonable efforts to register or qualify the shares being offered and sold, no later than the date on which
the pricing of the relevant offering is expected to occur, under all applicable state securities or “blue sky” laws of such jurisdictions as each underwriter, if any, or any Shareholder holding shares covered by a registration statement,
shall reasonably 

  
 7 

 
request; (ii) use all reasonable efforts to keep each such registration or qualification effective during the distribution of the registered shares; (iii) do any and all other acts and
things which may be reasonably necessary or advisable to enable each such underwriter, if any, and Shareholder to consummate the disposition in each such jurisdiction of such shares owned by such Shareholder; provided, however, that
the Company shall not be obligated to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to consent to be subject to general service of process (other than service of process in
connection with such registration or qualification or any sale of shares in connection therewith) in any such jurisdiction; and (iv) use all reasonable efforts to cause the shares being offered and sold, no later than the date on which the
pricing of the relevant offering is expected to occur, to be registered with or approved by such other governmental agencies or authorities within the United States, except as may be required solely as a consequence of the nature of the business of
any Shareholder, in which case the Company will cooperate in all reasonable respects with the filing of the applicable registration statement and the granting of such approvals, as may be necessary to enable any Shareholder or the underwriters, if
any, to consummate the disposition of such shares; 
 (d) cause all shares being sold to be qualified for inclusion in or listed on any
securities exchange on which shares issued by the Company are then so qualified or listed if so requested by the Shareholders, or if so requested by the underwriter or underwriters of an underwritten offering, if any; 

(e) cooperate and assist in any filings required to be made with FINRA and in the performance of any due diligence investigation by any
underwriter in an underwritten offering; 
 (f) use all reasonable efforts to facilitate the distribution and sale of any shares to be
offered pursuant to this Agreement, including without limitation by making road show presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be requested by the Shareholders or the lead
managing underwriter of an underwritten offering; 
 (g) in the case of an offering that includes a provider of capital markets advisory
services, enter into and perform its obligations under customary agreements (including an advisory services agreement and an indemnification agreement in customary form); 

(h) enter into customary agreements (including, in the case of an underwritten offering, one or more underwriting agreements in customary form,
and including provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary and appropriate actions in
order to expedite or facilitate the disposition of such shares, and in connection therewith: 
 1. make such representations
and warranties to the selling Shareholders and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings; 

  
 8 

 2. obtain opinions of counsel to the Company and updates thereof (which counsel
and opinions (in form, scope and substance) shall be reasonably satisfactory to the lead managing underwriter, if any) addressed to the underwriters, if any (and, if so requested, to each selling Shareholder), covering the matters customarily
covered in opinions requested in sales of securities or underwritten offerings and such other matters as may be reasonably requested by such Shareholders and underwriters; 

3. obtain “comfort” letters and updates thereof from the Company’s independent certified public accountants
addressed to the underwriters, if any (and, if so requested and if permissible, to each selling Shareholder), which letters shall be customary in form and shall cover matters of the type customarily covered in “comfort” letters to
underwriters in connection with primary underwritten offerings; 
 4. to the extent requested and customary for the relevant
transaction, enter into a securities sales agreement with the Shareholders providing for, among other things, the appointment of a representative as agent for the selling Shareholders for the purpose of soliciting purchases of shares, which
agreement shall be customary in form, substance and scope and shall contain customary representations, warranties and covenants; and 

5. deliver such documents and certificates as the sole underwriter or managing underwriter, if any, any selling Shareholder, or
their respective counsel, shall reasonably request to evidence the continued validity of the representations and warranties made in accordance with Section 4.3(h)(1) above and to evidence compliance with any customary conditions contained in
the underwriting agreement or other agreement entered into by the Company; 
 (i) if required by the Company’s transfer agent for the
shares (the “Transfer Agent”) and/or The Depository Trust Company (“DTC”), the Company will use reasonable efforts to cause opinions of counsel to be delivered to and maintained with the Transfer Agent
and/or DTC, together with any other agreements, authorizations, certificates and directions required by the Transfer Agent and/or DTC which authorize and direct the Transfer Agent to transfer shares without any restrictive legend and which allow DTC
to accept such shares for settlement; and 
 (j) use all reasonable efforts to facilitate the settlement of the shares to be sold pursuant to
this Agreement, including through the facilities of DTC and by facilitating the issuance or cancellation of depositary receipts underlying such shares. 

The above shall be done at such times as customarily occur in similar registered offerings or shelf takedowns. 

4.4 Due Diligence. In connection with each registration and offering of shares to be sold by Shareholders, the Company will, in
accordance with customary practice, make available for inspection by representatives of the Shareholders and underwriters and any counsel or accountant retained by such Shareholders or underwriters all relevant financial and other records, pertinent
corporate documents and properties of the Company and cause appropriate officers, managers, employees, outside counsel and accountants of the Company to supply all information reasonably requested by any such representative, underwriter, counsel or
accountant in connection with their due diligence exercise, including through in-person meetings, but subject to customary privilege constraints. 

  
 9 

 4.5 Information from Shareholders. Each Shareholder that holds shares covered by
any registration statement will furnish to the Company such information regarding itself as is required to be included in the registration statement or prospectus, the ownership of shares by such Shareholder and the proposed distribution by such
Shareholder of such shares as the Company may from time to time reasonably request in writing. 
 4.6 Expenses. All expenses
incurred in connection with any registration statement or registered offering or shelf takedown covering shares held by Shareholders, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of
counsel (including the fees and disbursements of outside counsel for selling Shareholders), providers of capital markets advisory services (which may include affiliates of the selling Shareholders) and of the independent certified public
accountants, the expense of qualifying such shares under state blue sky laws and any expenses relating to analyst and investor presentations or any “road show” (other than those borne by the underwriters), will be borne by the Company.
However, underwriters’, brokers’ and dealers’ discounts and commissions applicable to shares sold for the account of a Shareholder will be borne by such Shareholder. 

ARTICLE V 

INDEMNIFICATION 
 5.1
Indemnification by the Company. In the event of any registration under the Securities Act by any registration statement pursuant to rights granted in this Agreement of shares held by Shareholders, the Company will indemnify and hold
harmless Shareholders, their officers, directors and affiliates (and the officers, directors, employees, general and limited partners, Affiliates and controlling persons of any of the foregoing), and each underwriter of such shares and each other
person, if any, who controls any Shareholder or such underwriter within the meaning of the Securities Act against any losses, claims, damages, liabilities, expenses and judgments, joint or several, to which Shareholders or such underwriter or
controlling person may become subject under the Securities Act or otherwise, including any amount paid in settlement of any litigation commenced or threatened, and shall promptly reimburse such persons, as and when incurred, for any legal or other
expenses reasonably incurred by them in connection with investigating any claims and defending any actions, insofar as such losses, claims, damages, or liabilities (or any actions in respect thereof) arise out of or are based upon any violation or
alleged violation by the Company of the Securities Act, any blue sky laws, securities laws or other applicable laws or rules of any state or country in which such shares are offered and relating to action taken or action or inaction required of the
Company in connection with such offering, or arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement (or in any preliminary or final prospectus included therein)
under which such shares were registered under the Securities Act or any amendment or supplement to any of the foregoing, or in any document incorporated by reference therein or related document or report, or any issuer free writing 

  
 10 

 
prospectus (including any “road show,” whether or not required to be filed with the SEC), or that arise out of or are based upon the omission or alleged omission to state a material
fact required to be stated therein or necessary to make the statements therein not misleading; provided, however, that the Company shall not be liable to any Shareholder or its underwriters or controlling persons in any such case to the
extent that any such loss, claim, damage, or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement or such amendment or supplement or other
document, in reliance upon and in conformity with information furnished to the Company through a written instrument duly executed by such Shareholder or such underwriters specifically for use in the preparation of the information with respect to
such Shareholder or such underwriters required by Items 403 and 507 of Regulation S-K therein. It is agreed that the indemnity agreement contained in this Section 5.1 shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability, or action if such settlement is effected without the consent of the Company (it being understood that such consent shall not be unreasonably withheld). 

5.2 Indemnification by Shareholders. Each Shareholder will indemnify and hold harmless (in the same manner and to the same
extent as set forth in Section 5.1) the Company, each director of the Company, each officer of the Company who shall sign the registration statement, and any person who controls the Company within the meaning of the Securities Act,
(i) with respect to any untrue statement or alleged untrue statement in or omission or alleged omission from such registration statement, or any amendment or supplement to it, or any issuer free writing prospectus or other document, to the
extent, but only to the extent, that such untrue statement or omission was made in reliance upon and in conformity with information furnished to the Company through a written instrument duly executed by such Shareholder specifically for use in the
preparation of the information with respect to such Shareholder required by Items 403 and 507 of Regulation S-K included in such registration statement or amendment or supplement, and (ii) with respect to compliance by such Shareholder with
applicable laws in effecting the sale or other disposition of the shares covered by such registration statement; provided that the liability of each Shareholder pursuant to this Section 5.2 shall not exceed the amount by which the total
price at which the shares were offered to the public by such Shareholder exceeds the amount of any damages which such Shareholder has otherwise been required to pay by reason of an untrue statement or omission. 

5.3 Indemnification Procedures. Promptly after receipt by an indemnified party of notice of the commencement of
any action involving a claim referred to in the preceding Sections of this Article V, the indemnified party will, if a resulting claim is to be made or may be made against any indemnifying party, give written notice to the indemnifying party of the
commencement of the action. The failure of any indemnified party to give notice shall not relieve the indemnifying party of its obligations in this Article V, except to the extent that the indemnifying party is actually and materially prejudiced by
the failure to give notice. If any such action is brought against an indemnified party, the indemnifying party will be entitled to participate in and to assume the defense of the action with counsel reasonably satisfactory to the indemnified party,
and after notice from the indemnifying party to such indemnified party of its election to assume defense of the action, the indemnifying party will not be liable to such indemnified party for any legal or other expenses incurred by the latter in
connection with the action’s defense. An indemnified party shall have the right to employ separate counsel in any action or proceeding and participate in the defense thereof, but the fees and expenses of such 

  
 11 

 
counsel shall be at such indemnified party’s expense unless the employment of such counsel has been specifically authorized in writing by the indemnifying party, which authorization shall
not be unreasonably withheld, (ii) the indemnifying party has not assumed the defense and employed counsel reasonably satisfactory to the indemnified party within 30 days after notice of any such action or proceeding, or (iii) the named
parties to any such action or proceeding (including any impleaded parties) include the indemnified party and the indemnifying party and the indemnified party shall have been advised by such counsel that there may be one or more legal defenses
available to the indemnified party that are different from or additional to those available to the indemnifying party (in which case the indemnifying party shall not have the right to assume the defense of such action or proceeding on behalf of the
indemnified party), it being understood, however, that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in addition to all local counsel which is necessary, in the good faith opinion of both counsel for the indemnifying party and
counsel for the indemnified party in order to adequately represent the indemnified parties) for the indemnified party and that all such fees and expenses shall be reimbursed as they are incurred upon written request and presentation of invoices.
Whether or not a defense is assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its consent (but such consent will not be unreasonably withheld). No indemnifying party will
consent to entry of any judgment or enter into any settlement which (i) does not include as an unconditional term the giving by the claimant or plaintiff, to the indemnified party, of a release from all liability in respect of such claim or
litigation or (ii) involves the imposition of equitable remedies or the imposition of any non-financial obligations on the indemnified party. 

5.4 Contribution. If the indemnification required by this Article V from the indemnifying party is unavailable to or
insufficient to hold harmless an indemnified party in respect of any indemnifiable losses, claims, damages, liabilities, or expenses, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of
such losses, claims, damages, liabilities, or expenses in such proportion as is appropriate to reflect (i) the relative benefit of the indemnifying and indemnified parties and (ii) if the allocation in clause (i) is not permitted by
applicable law, in such proportion as is appropriate to reflect the relative benefit referred to in clause (i) and also the relative fault of the indemnified and indemnifying parties, in connection with the actions which resulted in such
losses, claims, damages, liabilities, or expenses, as well as any other relevant equitable considerations. The relative benefits received by a party shall be deemed to be in the same proportion as the total net proceeds from the offering (before
deducting expenses) received by it bear to the total amounts (including, in the case of any underwriter, any underwriting commissions and discounts) received by each other party. The relative fault of the indemnifying party and the indemnified party
shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made by, or relates to
information supplied by, such indemnifying party or parties, and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses,
claims, damages, liabilities, and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with any investigation or proceeding. The Company and Shareholders agree that
it would not be 

  
 12 

 
just and equitable if contribution pursuant to this Section 5.4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable
considerations referred to in the prior provisions of this Section 5.4. 
 Notwithstanding the provisions of this Section 5.4, no
selling Shareholder shall be required to contribute any amount in excess of: (x) the amount by which the total price at which the shares were offered to the public by such indemnifying party exceeds the amount of any damages which such
indemnifying party has otherwise been required to pay by reason of an untrue statement or omission, in the case of an indemnifying party that is not an underwriter, and (y) the amount by which the total underwriting discounts and commissions
received by such indemnifying party exceeds the amount of any damages which such indemnifying party has otherwise been required to pay by reason of an untrue statement or omission, in the case of an indemnifying party that is an underwriter. No
person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such a fraudulent misrepresentation. 

ARTICLE VI 
 OTHER
AGREEMENTS 
 6.1 Transfer of Rights. 

(a) Any Shareholder may transfer all or any of its rights under this Agreement to any transferee of shares held by such Shareholder to the
extent such transfer is not in violation of any requirements applicable under any agreement such Shareholder has with the Company. Any such transfer of registration rights will be effective upon receipt by the Company of (i) written notice from
such Shareholder stating the name and address of any transferee and identifying the number of shares with respect to which rights under this Agreement are being transferred and the nature of the rights so transferred, and (ii) a joinder to this
Agreement evidencing such transferee’s agreement to be bound by the terms of this Agreement. Following any such transfer, the Company and the transferring Shareholder will notify the other Shareholders as to who the transferees are and the
nature of the rights so transferred. 
 (b) In the case of an in-kind distribution of shares pursuant to Section 6.4 of this Agreement
with an ability to resell shares off of a shelf registration statement, such in-kind transferees will, as transferee Shareholders, be entitled to the rights under this Agreement applicable to the shares so transferred without the requirement to
enter into a written agreement pursuant to Section 6.1(a) above. In that regard, however, in-kind transferees that do not enter in such a written agreement will not be given demand or piggyback rights; rather, their means of registered resale
will be limited to sales off a shelf with respect to which no special actions are required by the Company or the other Shareholders, and as to which no lockup will arise. 

(c) In the event the Company engages in a merger or consolidation in which the shares are converted into securities of another company,
appropriate arrangements will be made so that the registration rights provided under this Agreement continue to be provided to Shareholders by the issuer of such securities. To the extent such new issuer, or any other company acquired by the Company
in a merger or consolidation, was bound by registration 

  
 13 

 
rights obligations that would conflict with the provisions of this Agreement, the Company will, unless Shareholders then holding a majority of the shares otherwise agree, use its best efforts to
modify any such “inherited” registration rights obligations so as not to interfere in any material respects with the rights provided under this Agreement. 

(d) In addition, in the event that the Company effects the separation of any portion of its business into one or more entities (each, a
“NewCo”), whether existing or newly formed, including without limitation by way of spin-off, split-off, carve-out, demerger, recapitalization, reorganization or similar transaction, and any Shareholder will receive equity
interests in any such NewCo as part of such separation, the Company shall cause any such NewCo to enter into a registration rights agreement with each such Shareholder that provides each such Shareholder with registration rights vis-á-vis
such NewCo that are substantially identical to those set forth in this Agreement. 
 6.2 Limited Liability. Notwithstanding
any other provision of this Agreement, neither the members, general partners, limited partners or managing directors, or any directors or officers of any members, general or limited partner, advisory director, nor any future members, general
partners, limited partners, advisory directors, or managing directors, if any, of any Shareholder shall have any personal liability in respect of any obligation of such Shareholder under this Agreement. 

6.3 Rule 144. If the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act, the Company
covenants that it will file any reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act but is not required to file such
reports, it will, upon the request of any Shareholder, make publicly available such information), and it will take such further action as any Shareholder may reasonably request so as to enable such Shareholder to sell shares without registration
under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such Rule may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC.
Upon the request of any Shareholder, the Company will deliver to such Shareholder a written statement as to whether it has complied with such requirements. 

6.4 In-Kind Distributions. If any Shareholder seeks to effectuate an in-kind distribution of all or part of its shares to its
direct or indirect equityholders, the Company will, subject to applicable lockups, work with such Shareholder, the Company’s transfer agent and any depositary to facilitate such in-kind distribution in the manner reasonably requested by such
Shareholder, as well as any resales by such transferees under a shelf registration statement covering such distributed shares. 
 ARTICLE
VII 
 MISCELLANEOUS 

7.1 Notices. All notices, Requests, demands and other communications required or permitted hereunder shall be made in writing by
hand-delivery, mail, email, fax or air courier guaranteeing delivery: 

  
 14 

	 	(a)	If to the Company, to: 

 Gates Industrial Corporation plc 

1551 Wewatta Street 
 Denver,
Colorado 80202 
 Attention: General Counsel 

Email: Jamey.Seely@gates.com 
 or to such other
person or address as the Company shall furnish to the Shareholders in writing; 
  

	 	(b)	If to the Blackstone Parties, to: 

 Blackstone Capital Partners (Cayman) VI L.P. 

345 Park Avenue 
 New York, New
York 10154 
 Attention: Neil P. Simpkins 

Facsimile: (212) 583-5257 

Email: simpkins@blackstone.com 
 or to such
other person or address as the Blackstone Parties shall furnish to the Company and the other Shareholders in writing; 
 All such notices,
requests, demands and other communications shall be deemed to have been duly given: at the time of delivery by hand, if personally delivered; four business days after being deposited in the mail, postage prepaid, if mailed domestically in the United
States (and seven Business Days if mailed internationally); when sent, if by email; when receipt acknowledged, if faxed; and on the business day for which delivery is guaranteed, if timely delivered to an air courier guaranteeing such delivery. 

7.2 Section Headings. The article and section headings in this Agreement are for reference purposes only and shall not affect
the meaning or interpretation of this Agreement. References in this Agreement to a designated “Article” or “Section” refer to an Article or Section of this Agreement unless otherwise specifically indicated. 

7.3 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New
York. 
 7.4 Consent to Jurisdiction and Service of Process. The parties to this Agreement hereby agree to submit
to the jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof in any action or proceeding arising out of or relating to this
Agreement. 
 7.5 Amendments. This Agreement may be amended only by an instrument in writing executed by the Company and
Shareholders holding a majority of the shares collectively held by them. Any such amendment will apply to all Shareholders equally, without distinguishing between them. This Agreement will terminate as to any Shareholder when it no longer has demand
or piggyback rights under this Agreement with respect to shares and the Company has fulfilled all of its obligations with respect to shares previously sold by such Shareholder in one or more registered offerings covered by this Agreement. 

  
 15 

 7.6 Entire Agreement. This Agreement constitutes the entire agreement and
understanding of the parties with respect to the transactions contemplated hereby and thereby. The registration rights granted under this Agreement supersede any registration, qualification or similar rights with respect to any of the shares granted
to one or more Shareholders under any other agreement, and any of such preexisting registration rights are hereby terminated. 
 7.7
Severability. The invalidity or unenforceability of any specific provision of this Agreement shall not invalidate or render unenforceable any of its other provisions. Any provision of this Agreement held invalid or unenforceable shall be
deemed reformed, if practicable, to the extent necessary to render it valid and enforceable and to the extent permitted by law and consistent with the intent of the parties to this Agreement. 

7.8 Counterparts. This Agreement may be executed in multiple counterparts, including by means of facsimile, each of which shall
be deemed an original, but all of which together shall constitute the same instrument. 
 7.9 Third Party Beneficiaries.
Except as specifically provided below, this Agreement (including the documents and instruments referred to in this Agreement) is not intended to and does not confer upon any person other than the parties hereto any rights or remedies under this
Agreement. In connection with any underwritten offering, upon written notice given to the Company by the holders of a majority of the shares being sold by Shareholders in such offering, the underwriters in such offering will become third-party
beneficiaries of Sections 3.6, 5.1, 5.3 and/or 5.4, as may be specified in such notice (but no other section or provision of this Agreement), and in such event such underwriters shall be entitled to enforce their rights under such specified
sections, provided, that, in the case of Sections 5.1, 5.3 and 5.4, such underwriters have provided the Company with information of the type referred to in Section 4.5 but as such information relates to underwriters in a registered
offering, and such underwriters have provided to the Company and the selling Shareholders an indemnity comparable to that provided by the Shareholders in Section 5.2. Notwithstanding any provision hereof to the contrary, no consent, approval or
agreement of any third-party beneficiary will be required to amend, modify or waive any provision of this Agreement. 
 7.10 Equitable
Remedies. The parties hereto agree that irreparable harm would occur in the event that any of the agreements and provisions of this Agreement were not performed fully by the parties hereto in accordance with their specific terms or
conditions or were otherwise breached, and that money damages are an inadequate remedy for breach of this Agreement because of the difficulty of ascertaining and quantifying the amount of damage that will be suffered by the parties hereto in the
event that this Agreement is not performed in accordance with its terms or conditions or is otherwise breached. It is accordingly hereby agreed that the parties hereto shall be entitled to an injunction or injunctions to restrain, enjoin and prevent
breaches of this Agreement by the other parties and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction, such remedy being in addition to and not in lieu of, any other rights and
remedies to which the other parties are entitled to at law or in equity. 

  
 16 

 7.11 No Inconsistent Agreements. From and after the date of this Agreement, the
Company shall not enter into any agreement with any person, including any holder or prospective holder of any securities of the Company, giving or granting any registration (or related) rights the terms of which are more favorable than, senior to or
conflict with, the registration or other rights granted to the Blackstone Parties hereunder. 
 [Rest of page intentionally left blank]

  
 17 

 IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement as of the
date set forth in the first paragraph hereof. 
  

			
	GATES INDUSTRIAL CORPORATION PLC
		
	By:	 	/s/ Jamey S. Seely
		 	Name:  Jamey S. Seely
		 	 Title:    Executive Vice President,

             General Counsel and

             Corporate Secretary

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	BLACKSTONE CAPITAL PARTNERS     (CAYMAN) VI L.P.
		
	By:	 	Blackstone Management Associates (Cayman) VI L.P., its general partner
		
	By:	 	BCP VI GP L.L.C., its general partner
		
	By:	 	/s/ Julia Kahr
		 	Name: Julia Kahr
		 	Title: Senior Managing Director

 
			
	
	BLACKSTONE GTS CO-INVEST L.P.
		
	By:	 	Blackstone Management Associates (Cayman) VI L.P.
		
	By:	 	BCP VI GP L.L.C., its general partner
		
	By:	 	/s/ Julia Kahr
		 	Name: Julia Kahr
		 	Title: Senior Managing Director

 
			
	
	BTO OMAHA HOLDINGS L.P.
		
	By:	 	BTO Omaha Manager L.L.C., its general partner
		
	By:	 	/s/ Christopher J. James
		 	Name: Christopher J. James
		 	Title: Authorized Signatory

 
			
	
	BLACKSTONE FAMILY INVESTMENT     PARTNERSHIP (CAYMAN) VI – ESC L.P.
		
	By:	 	BCP VI GP L.L.C., its general partner
		
	By:	 	/s/ Julia Kahr
		 	Name: Julia Kahr
		 	Title: Senior Managing Director

  
 [Signature Page to
Registration Rights Agreement]

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