An anonymous representative of Browning West reports

BROWNING WEST'S SLATE OF HIGHLY QUALIFIED DIRECTOR CANDIDATES RELEASES FIVE-PILLAR PLAN TO ENHANCE SHAREHOLDER VALUE AT GILDAN ACTIVEWEAR

Browning West LP, which is a long-term shareholder of Gildan Activewear Inc. and beneficially owns approximately 5 per cent of the company's outstanding shares, has confirmed that its slate of director candidates released a presentation detailing its five-pillar plan to increase Gildan's share price to more than $60 (U.S.) by the end of 2025 and more than $100 (U.S.) within the next five years. Browning West's slate is releasing its operating plan now so that shareholders can understand the company's strong stand-alone prospects under the slate's leadership relative to an outcome that likely undervalues the company under the current board of directors' reactionary sale process.

As a reminder, Browning West is seeking to elect eight highly qualified and independent director candidates to Gildan's board of directors at the annual meeting of shareholders on May 28, 2024. Browning West's director candidates possess strong records of value creation, expertise in successful succession planning, relevant industry and governance experience, as well as proven management and board service pedigrees in Canada and the United States.

Shareholders are encouraged to visit the SuperchargeGildan website to download a copy of the operating plan and sign up for important campaign updates. Visit SEDAR+ to review a copy of Browning West's information circular and other relevant materials.

Advisers

Olshan Frome Wolosky LLP is serving as legal counsel, Goodmans LLP is serving as Canadian legal counsel, and IMK is serving as Quebec legal counsel. Longacre Square Partners is serving as strategic adviser, and Pelican PR is serving as public relations adviser. Carson Proxy is serving as proxy adviser.

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