On January 23, 2024, Browning West, LP issued an open letter to fellow shareholders of Gildan Activewear Inc. in response to the Board of Directors? attempt to invalidate Browning West?s valid requisition for a Special Meeting of Shareholders. Browning West, issues letter to fellow shareholders regarding the board?s desperate and self-serving attempt to avoid holding Browning West?s requisitioned special meeting.

Browning West noted that the Board?s most recent gambit coincides with other troubling actions, including the initiation of a campaign to intimidate and silence vocal shareholders. In addition, Browning West expressed that despite the Board?s intransigence and clear desire to avoid being held accountable at a Special Meeting, Browning West completely committed to taking all necessary steps, including through the legal and regulatory channels, to protect its investment and set a strong foundation for long-term value creation at the Company. Further Browning West expressed its view that the Board?s poor conduct only serves to validate Browning West?s campaign.