Mr. Glenn Chamandy reports

GILDAN ANNOUNCES EXECUTIVE LEADERSHIP CHANGES INCLUDING CFO TRANSITION

Gildan Activewear Inc. has made following executive leadership nominations and a chief financial officer transition as part of a multiyear succession-planning process, which are intended to ensure strong continuity as the company drives forward with the Gildan sustainable growth strategy:

• Chuck Ward, currently president, sales, marketing and distribution, has been appointed to the newly created role of executive vice-president and chief operating officer, effective March 1, 2025, and will continue to report to Glenn J. Chamandy, president and chief executive officer. Mr. Ward joined Gildan in 2011 through the acquisition of GoldToe Moretz, where he had served as executive vice-president and chief financial officer and initially led the integration of GoldToe into Gildan. Over the years, he has held several senior roles at Gildan, including leading the company's yarn-spinning operations, overseeing supply chain planning, and running the company's sales, marketing and distribution organization while gaining strong experience in manufacturing.
• Separately and after almost 10 years in the executive vice-president/chief financial and administrative officer role, Rhodri (Rhod) J. Harries, has informed the board of his intention to retire on Jan. 1, 2026. The company announced that Luca Barile, currently chief financial officer, sales, marketing and distribution, will succeed Mr. Harries as executive vice-president/chief financial officer, assuming responsibilities on March 1, 2025. To facilitate a smooth transition over a full 10 months, Mr. Harries will retain his chief administrator officer role until his retirement. Mr. Barile began his career as a senior auditor at a large accounting firm in 2008 before joining Gildan in 2012. At Gildan, Mr. Barile has held various roles in financial planning and analysis, internal audit, and enterprise risk management, before being promoted to his current role in 2023 as chief financial officer for sales, marketing and distribution.

"I would like to express my deep appreciation to Rhod, who has guided our financial performance through many key phases for our company. Since 2015, he has been an invaluable partner to me, his executive peers and to his teams. He has safeguarded the company's solid financial position through disciplined capital allocation, contributing to the achievement of our long-term financial objectives and setting the stage for the future. Although we will still be working together through 2025, I wish him well in retirement next year and want to thank him for his significant contribution to our success," said Mr. Chamandy.

Mr. Chamandy added: "I am very pleased to welcome Chuck and Luca into their new roles, appointments that are a testament to our internal bench strength and the effectiveness of our multiyear succession-planning efforts. They are both outstanding leaders who are well positioned to step into their roles as we continue to achieve our financial goals, pursue the next exciting stage in Gildan's growth strategy and drive enhanced long-term value for our stakeholders."

Fourth quarter and full-year 2024 results

In a separate press release issued concurrently today, Gildan announced results for the fourth quarter and full year ended Dec. 29, 2024, and initiated its annual guidance for 2025. A conference call will be held at 8:30 a.m. ET, and details to access the conference call is available in the press release.

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, and under an exclusive licensing agreement for the printwear channel for Champion.

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.