Gildan Activewear Publishes Investor Presentation for 2024 Annual Meeting

• Board Urges Shareholders to Vote “FOR” ALL of Gildan’s Recommended Qualified and Experienced Director Nominees on the BLUE Proxy Card
• Vote Today! For questions or help with voting, call 1-888-518-6813 (toll free in North America), text or call 437-561-5012, email [e-mail] or visit www.futureofgildan.com

MONTREAL, May 13, 2024 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL; TSX and NYSE) today announced that it has published an investor presentation, entitled “Successfully Driving Long-Term Value for All Shareholders”, in connection with its upcoming 2024 Annual Meeting of Shareholders (the “2024 Annual Meeting”) to be held on May 28, 2024. The investor presentation will be available at http://www.futureofgildan.com and on the Company’s 2024 Annual Meeting page.

Key highlights of the presentation include the following:

• Why the refreshed Board is excited about Gildan’s future:
  • Gildan is an industry-leading company with a strategic moat around its business – given its competitive position and advantageous cost structure, the company should be a winner.
  • Gildan has a clear path to value creation through EBITDA expansion as delivered through its Gildan Sustainable Growth (GSG) strategy, based on its key pillars of Growth, Innovation, and ESG.
  • Gildan has a strong leader in Vince Tyra and a strong management team in place that can deliver value creation for all shareholders through the execution of his enhanced GSG plan.
  • Gildan’s recently refreshed board is highly collaborative and will work collegially and constructively to oversee management’s delivery of the GSG plan and will hold management accountable.
  • Gildan’s recently refreshed board excels at creating alignment, which will resolve the current alignment problem between the legacy board, management, and a group of shareholders being instigated by an opportunistic activist.

• Gildan’s newly refreshed Board contains the right mix of fresh perspectives, historical continuity, and investor input.
  • Gildan recommends the election of five newly-appointed independent directors, four incumbent independent directors, and two independent director nominees from the dissident’s slate – all with the necessary experience, expertise, and skills needed to maximize Gildan’s full potential and mitigate further disruption.
  • The newly constituted Board is the result of a thorough, deliberate process that was rooted in extensive shareholder engagement, having held 87 meetings, including across Gildan’s 25 top shareholders and those who Browning West has deemed as supportive.