Mr. Glenn Chamandy reports

GILDAN PUBLISHES ITS 19TH ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) REPORT

Gildan Activewear Inc. has published its latest environmental, social and governance (ESG) report, marking the company's 19th year of public ESG disclosures. The report highlights Gildan's 2022 performance against key targets and the strong momentum generated across all of its global operations in the first year of activating its next-generation ESG strategy.

"Looking back at 2022, I am pleased with our continued commitment to ESG across our operations and our enhanced processes, and cross-functional collaboration and accountability," says Glenn J. Chamandy, president and chief executive officer of Gildan. "ESG is one of the three core pillars of our Gildan sustainable growth (GSG) business strategy, and as we continue our journey towards achieving our 2030 ESG targets, we are committed to delivering and reporting on our progress."

Two thousand twenty-two ESG highlights:

• Tied 25 per cent of all Gildan's senior executives' strategic objectives to its annual short-term incentive plan to support the advancement of ESG targets;
• Included sustainability-linked terms in its existing $1-billion revolving credit facility;
• Reduced absolute scope 1 and 2 GHG (greenhouse gas) emissions by 10.9 per cent (compared with a 2018 base year);
• Reduced water intensity by 18.4 per cent (compared with a 2018 base year);
• Sourced 21.7 per cent of its cotton supply from verified United States-grown cotton suppliers (USCTP) and Better Cotton;
• 14.2 per cent of total SKUs (stock keeping units) of packaging and trim materials specific to apparel (which include carton, polyester, paper and cotton-poly trims) now contain recycled materials or have relevant sustainability certifications;
• Achieved 30.3-per-cent gender parity in the collective group representing director-level and above employees, up from 26.7 per cent in 2021;
• Contributed $1.1-million to community initiatives;
• Published its first stand-alone climate change disclosure report.

Recent 2023 achievements include:

• The Science Based Target initiative (SBTi) validated Gildan's 2030 near-term targets to reduce scope 1 and 2 GHG emissions by 30 per cent by 2030 from a 2018 base year. SBTi also validated Gildan's target to reduce scope 3 emissions by 13.5 per cent by 2030 from a 2019 base year.
• Obtained the first ISO 45001 certification at one of Gildan's sewing facilities in the Dominican Republic.

Recognitions:

• Gildan continues to be recognized for its ESG practices:
  • Included in the Dow Jones Sustainability Index for the 10th consecutive year in 2022;
  • Included in CDP's Leadership Band in 2022;
  • Named one of the World's 100 Most Sustainable Corporations by Corporate Knights;
  • Included in Canada's Best 50 Corporate Citizens by Corporate Knights;
  • Designated as a 2023 Top-Rated ESG Company by Sustainalytics' ESG risk ratings;
  • Accorded prime status by Institutional Shareholder Services (ISS) ESG corporate rating.

The full 2022 ESG report is available on-line.

About Gildan Activewear Inc.

Gildan is a leading manufacturer of everyday basic apparel. The company's product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The company markets its products in North America, Europe, Asia Pacific and Latin America under a diversified portfolio of company-owned brands, including Gildan, American Apparel, Comfort Colors, Goldtoe and Peds, in addition to the Under Armour brand through a sock licensing agreement providing exclusive distribution rights in the United States and Canada.

Gildan owns and operates vertically integrated, large-scale manufacturing facilities that are primarily located in Central America, the Caribbean, North America and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG (environmental, social and governance) program embedded in the company's long-term business strategy.