Gildan Activewear Announces Board Refreshment to Support CEO Vince Tyra and Gildan’s Next Phase of Sustainable Growth - Seite 2

In addition, Luc Jobin and Chris Shackelton, members of the Special Committee supervising the ongoing sale process, will continue in their roles to help transition the Special Committee to the refreshed Board. They have informed the Board that they will not stand for re-election at the Company’s 2024 Annual Meeting and will retire after the Annual Meeting. The Board recommends that shareholders vote for the elections of Karen Stuckey and J.P. Towner, who have been nominated by a shareholder, Browning West. The Board requested to interview all of Browning West’s candidates, but that request was declined. It was clear to the Board during deliberations, through prior consideration of potential candidates for board refreshment, and feedback received from shareholders and other stakeholders of the Company, that Karen Stuckey and J.P. Towner would be additive to the Board as Gildan pursues its growth agenda. The Board does not believe that the rest of Browning West’s slate offers an increase in expertise or experience to Gildan’s business, and accordingly, they do not represent the best mix of Director candidates.

The Board unanimously recommends and it is expected that the new Board as it will be constituted on May 1, 2024 will appoint Tim Hodgson as Independent / Non-Executive Chair, effective that day. With these changes, the Company’s recommended slate of Director candidates for the 2024 Annual Meeting will include the following individuals:

• Tim Hodgson, Independent / Non-Executive Chair
• Lee Bird
• Dhaval Buch
• Marc Caira
• Jane Craighead
• Sharon Driscoll
• Lynn Loewen
• Anne Martin-Vachon
• Vincent (Vince) J. Tyra, President & CEO
• Les Viner
• Karen Stuckey – recommended Browning West nominee
• J.P. Towner – recommended Browning West nominee

These individuals are highly qualified. The Company’s nominees have been thoughtfully selected to serve on the Board of Directors following a robust recruitment process, including the hiring of an independent search firm, and extensive shareholder engagement. The Board possesses strong business and core industry experience and deep expertise in key functional areas, such as corporate governance, legal, ESG, and HR, which are needed to oversee Gildan in its next phase of growth.