Gildan Activewear Inc. announced a refreshed Board of Directors that has been thoughtfully constructed based on extensive shareholder engagement. The new Board will guide the Company?s next phase of growth under the leadership of President and Chief Executive Officer Vince Tyra and ensure the previously announced sale process is conducted in a manner that will benefit all shareholders of Gildan. The Company announced that its Board of Directors has appointed Timothy (Tim) Hodgson, former Special Advisor to Governor Carney at the Bank of Canada and former CEO of Goldman Sachs Canada, Lewis L. (Lee) Bird III, former Chairman and Chief Executive Officer of At Home Group Inc., Jane Craighead, former Senior Vice President Global Human Resources at Scotiabank, Lynn Loewen, former President of Minogue Medical Inc., and Les Viner, former Managing Partner of Torys LLP, as independent directors of the Board, effective May 1, 2024.

The five new directors take the seats of Directors Donald C. Berg, Maryse Bertrand, Shirley Cunningham, Charles Herington, and Craig Leavitt. The Board decided that near-term board refreshment was in the best interests of Gildan. To facilitate a smooth transition process at this important junction, the new directors have been recent observers to the Board.

In addition, Luc Jobin and Chris Shackelton, members of the Special Committee supervising the ongoing sale process, will continue in their roles to help transition the Special Committee to the refreshed Board. They have informed the Board that they will not stand for re-election at the Company?s 2024 Annual Meeting and will retire after the Annual Meeting. The Board unanimously recommends and it is expected that the new Board as it will be constituted on May 1, 2024 will appoint Tim Hodgson as Independent /Non-Executive Chair, effective that day.

Tim Hodgson has a long and distinguished leadership career in asset management, finance, and public service. Tim was Special Advisor to Governor Carney at the Bank of Canada and served as Chief Executive Officer of Goldman Sachs Canada from 2005 to 2010, after having risen through various positions within the international investment bank?s New York, London, Silicon Valley, and Toronto offices. Tim has more than 15 years of board experience spanning several sectors.

He currently serves as Chair of Hydro One, a TSX 60 company and Canada?s largest publicly traded electricity transmission and distribution service provider. He also serves as Chair of the Canadian Investment Regulatory Organization, Vice Chair of the Investments Committee of the Ontario Teacher?s Pension Plan and on the board of the Property and Casualty Insurance Compensation Corporation. Tim most recently served as Managing Partner and Director of Alignvest Management Corporation, a Canadian-based private equity investment firm.

His prior board directorships include Dialogue Health Technologies, PSP Investments, Sagicor Financial Company, MEG Energy, the Ivey School of Business at Western University, and Bridgepoint Health. He is a Fellow of the Institute of Chartered Professional Accountants (FCPA) and holds the Institute of Corporate Directors designation (ICD.D). Lee Bird brings to the Gildan board deep leadership experience and relevant industry expertise.

He most recently served as Chairman and CEO of At Home Group Inc., a US-based retailer. Prior to that, Bird served as Managing Director/Consumer Practice Leader of The Gores Group, a global private equity firm. Prior to this, Lee served as Group President of Nike Affiliates for Nike Inc., Chief Operating Officer of The Gap and Chief Financial Officer of Old Navy.

Before his consumer/retail career, he held various strategic and financial leaderships roles at Gateway Inc., Honeywell/AlliedSignal Inc., and Ford Motor Company. He started his career as an Assistant Vice President & Commercial Loan Officer for BayBanks Inc. Lee is currently on the Board of the Larry H. Miller Companies, the National Advisory Committee for the Marriott School of Business at Brigham Young University and is a member of the Ownership Advisory Group of the NHL Dallas Stars. Jane Craighead has over 20 years of experience with public companies, first as executive management and then as an independent corporate director.

Jane is skilled in finance and accounting, human resource management including executive compensation, corporate governance, business strategy and change management. She most recently served as Senior Vice President Global Human Resources at Scotiabank. Prior to that, she served as Global Practice Leader, Total Rewards of Rio Tinto, as well as a similar role at Alcan.

She is currently a member of the Board of Directors of Crombie Real Estate Investment Trust where she is a member of the Human Resources Committee and Chair of the Governance and Nominating Committee, of Wajax Corporation where she is a member of the Audit Committee and Chair of the Human Resources Committee, and of Telesat Corporation where she is a member of the Audit and Nominating and Governance committees and Chair of the Human Resources and Compensation Committee. Her prior board directorships include Jarislowsky Fraser Limited, Intertape Polymer Group Inc., Clearwater Seafoods Incorporated, and Park Lawn Corporation. Jane has a PhD in Management and is a Chartered Professional Accountant (CPA).