Ms. Jessy Hayem reports

GILDAN ANNOUNCES PRICING OF PRIVATE OFFERING OF US$1.2 BILLION SENIOR UNSECURED NOTES

Gildan Activewear Inc. has priced an offering of $1.2-billion (U.S.) aggregate principal amount of senior unsecured notes in two series, consisting of $600-million (U.S.) aggregate principal amount of 4.700 per cent senior unsecured notes, due Oct. 7, 2030, and $600-million (U.S.) aggregate principal amount of 5.400 per cent senior unsecured notes, due Oct. 7, 2035.

The company expects to use the net proceeds from the offering of the notes, together with cash on hand or other immediately available funds, to finance the cash portion of the consideration to be paid for the acquisition of Hanesbrands Inc., the refinancing of Hanesbrands' existing indebtedness, and related transaction fees and expenses related to the offering of the notes and the acquisition of Hanesbrands.

The offering is expected to close on or about Oct. 7, 2025, subject to customary closing conditions.

The notes will be senior unsecured obligations of the company and will rank equally in right of payment with all of the company's existing and future senior unsecured and unsubordinated indebtedness.

The company is offering the notes pursuant to an exemption under the Securities Act of 1933, as amended. The initial purchasers of the notes will offer the notes only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the securities act or outside of the United States to certain persons in reliance on Regulation S under the securities act. The notes have not been and will not be registered under the securities act or under any state securities laws or the securities laws of any other jurisdiction. Therefore, the notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the securities act and applicable state securities laws. The notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada, and, accordingly, any offer and sale of the notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.

This press release shall not constitute an offer to sell or an invitation to purchase, in any jurisdiction in which such offer or invitation would be unlawful.

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 which 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 environmental, social and governance program embedded in the company's long-term business strategy.

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