Annual

Shareholders’
Meeting
May 5, 2016
William D. Anderson
Chairman of the Board

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Forward-looking statements

Certain statements included in these presentations constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and Canadian securities legislation and regulations, and are subject to important risks, uncertainties and assumptions. This forward-looking information includes,
amongst others, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans,
expectations, anticipations, estimates and intentions, including, without limitation, our expectation with regards to net sales, unit volume growth, net selling prices,
product-mix, cotton costs, manufacturing efficiencies, capital expenditures, manufacturing cost savings from capital investments, selling, general and administrative
expenses, operating margins, income tax rate, earnings per share, free cash flow, the economic environment, inflation and retail market conditions.

Such forward-looking statements involve uncertainties, assumptions and known and unknown risks, and other factors, including, but not limited to, our ability to
implement our growth strategies and plans, including achieving market share gains, obtaining and successfully introducing new sales programs, implementing new product
introductions, increasing capacity, implementing cost reduction initiatives and completing and successfully integrating acquisitions, the intensity of competitive activity and
our ability to compete effectively, adverse changes in general economic and financial conditions globally or in one or more of the markets we serve, our reliance on a
small number of significant customers, the fact that our customers do not commit contractually to minimum quantity purchases, our ability to anticipate, identify and react
to changes in consumer preferences and trends, our ability to manage production and inventory levels effectively in relation to changes in customer demand, fluctuations
and volatility in the price of raw materials used to manufacture our products, such as cotton, polyester fibres, dyes and other chemicals, our dependence on key suppliers
and our ability to maintain an uninterrupted supply of raw materials and finished goods, the impact of climate, political, social and economic risks in the countries in which
we operate or from which we source production, disruption to manufacturing and distribution activities due to such factors as operational issues, disruptions in
transportation logistic functions, labour disruptions, political or social instability, bad weather, natural disasters, pandemics and other unforeseen adverse events, changes
to international trade legislation that the Company is currently relying on in conducting its manufacturing operations or the application of safeguards thereunder, factors
or circumstances that could increase our effective income tax rate, including the outcome of any tax audits or changes to applicable tax laws or treaties, compliance with
applicable environmental, tax, trade, employment, health and safety, anti-corruption, privacy and other laws and regulations in the jurisdictions in which we operate,
operational problems with our information systems as a result of system failures, viruses, security and cyber security breaches, disasters, and disruptions due to system
upgrades or the integration of systems, adverse changes in third party licensing arrangements and licensed brands, our ability to protect our intellectual property rights,
changes in our relationship with our employees or changes to domestic and foreign employment laws and regulations, negative publicity as a result of actual, alleged or
perceived violations of labour and environmental laws or international labour standards, or unethical labour or other business practices by the Company or one of its
third-party contractors, our dependence on key management and our ability to attract and/or retain key personnel, changes to and failure to comply with consumer
product safety laws and regulations, changes in accounting policies and estimates, exposure to risks arising from financial instruments, including credit risk, liquidity risk,
foreign currency risk and interest rate risk, as well as risks arising from commodity prices, the adverse impact of any current or future legal and regulatory actions, and an
actual or perceived breach of data security, any of which could cause actual results to differ materially from future results expressed or implied by such forward-looking
statements.

You should not place undue reliance on these forward-looking statements, which are made only as of the date of these presentations. We refer you to the Company’s
filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities for a discussion of the various factors that may affect the
Company’s future results, including, in particular, the Company’s press release dated February 24, 2016, as subsequently updated in the Company’s press release dated
May 4, 2016, for a discussion of the material assumptions underlying the Company’s guidance for the 12 months-ending January 1, 2017.

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Agenda

1. Presentation of Financial Statements

2. Nomination and Election of Directors

3. Advisory Vote on Executive Compensation

4. Appointment of Auditors

5. Other Business

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Glenn J. Chamandy
President & Chief Executive Officer

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Agenda

1. Business and Strategic Overview

• Highlights
• Printwear
• Branded Apparel
• Manufacturing and Cost Reduction

2. Financial Overview

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2015 was a strong year
Highlights

• Strategic pricing actions drove strong unit

Net volume growth in Printwear
sales
(in $U.S. billions)
2.57 12%
• Grew Branded apparel sales 11% and
expanded operating margins 180 bps

Operating • Continued penetration and market share

margins
(% consolidated)
14.3 190 bps gains for Gildan branded products

• Ramp-up of yarn-spinning facilities nearing

completion
Adjusted
• Acquisition of Comfort Colors
EPS*
(in $U.S./share)
1.46 28%
• Fourth consecutive 20% increase in quarterly
dividend and initiation of NCIB
Free cash • Included in Dow Jones Sustainability World
flow
(in $U.S. millions)
159 Index for third consecutive year

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Note: On a calendar year basis
*Adjusted EPS reflects EPS before restructuring and acquisition related costs
Printwear
Printwear’s track record of growth

Historical revenue growth Historical operating income growth

(in $U.S.) (in $U.S.)

Note: Based on a calendar year basis

Gildan’s current addressable printwear market is $9B in
over 50 countries

$4.5B $2.3B

$1.3B
$0.9B

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Note: Based on a calendar year basis

Strong brands positioned in all market segments of the
$4.5 billion U.S. Printwear market
Basics Fashion Sports
(60% of market) (30% of market) (10% of market)

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Source: Management estimates

Increasing Gildan® brand share in basics within distributors
and broadening end-user market reach
Leveraging superior value proposition
• Proven foundation and continued investment in
manufacturing cost-advantage
• Leading industry in garment features
Industry-leading service
• Next-day delivery capabilities
• 54 distribution points nationwide
• Depth of inventory
Enhanced product quality
• Large-scale volume replication
• Consistency of colors, fit and count size
• Strict quality standards
Breadth of product offering
• 3x more SKUs than largest competing mill
• Allows for purchase of complementary styles across
all genders and sizes
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Source: Management estimates

Developing ANVIL® into the leading fashion brand

• Incentivizing distributors by offering industry-leading margins

• Better product quality and consistency, enhanced end-user experience
• Fully-integrated marketing with distributors to drive increased end-user demand
• Lowest end-user price points reinforce value proposition
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Source: Management estimates

Broadening Comfort Colors® breadth and reach

Broadening product breadth through

Increasing reach to drive demand
expanding capacity

Introduction of additional products (e.g. fitted t-shirt, Leveraging Gildan marketing

caps, bags), colors and fabrics leveraging Gildan infrastructure for greater reach
manufacturing platform
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Source: Management estimates

Expanding Gildan Performance® product line

Launch of Gildan
Performance® in 2013 has
exceeded expectations

• Gildan Performance® launched in 2013

with 6 core styles
• Opportunity to broaden product line by
more than doubling SKU count to
address all athletic needs
• Our manufactured vs. competitors’
sourced model provides competitive
advantage

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Source: Management estimates

Replicating U.S. success in the $4.5B addressable
international market
International is growing at a faster
rate than the U.S. Gildan growth drivers

20% • Growing Gildan® SKU count to

Latin & Central U.S. levels
America
• Introducing Gildan Performance®,
ANVIL®, Comfort Colors® to all
markets

• Opening new distributors in existing

$4.5B 50%
Europe
markets and new markets

• Leveraging existing SG&A

infrastructure
30% • Expanding Bangladesh hub to support
Asia continued international growth and to
allow duty-free access

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Source: Management estimates, In wholesale U.S. dollars

International opportunity lies with increased SKU count
and brand introduction

Current SKU count and brands by region

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Source: Management estimates, In wholesale U.S. dollars

Announcement of acquisition of Alstyle Apparel
• Manufacturer and marketer of activewear sold to North American screenprinters,
embellishers, mass-marketers

• Textile and sewing manufacturing in Mexico, distribution facilities in U.S., Canada and Mexico

• Expands Gildan’s penetration in printwear markets in the U.S., Canada and Mexico
— Strong presence in Western U.S.
• Enhances positioning in Mexican printwear and retail markets

• Provides duty-free access to markets in South America

• Significant synergy opportunities

• Total cash purchase price of $110 million

• Slightly accretive in 2016, strong integration synergies projected in 2017 and 2018

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Branded
Apparel
Branded Apparel’s track record of growth

Historical revenue growth Historical operating income growth

(in $U.S.) (in $U.S.)

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Note: Based on a calendar year basis

Branded Apparel has successfully transitioned from a
private label to a branded business

Acquisitions have been the Transition from private label to

foundation of our retail strategy Gildan® brand
• Initial entry into retail through acquisition
of two hosiery companies 4%
- Kentucky Derby (2006)
- V.I. Prewett (2007)
96%
• Acquisitions of leading brands have
expanded product capabilities
- Gold Toe Moretz (2011) 65%

- Doris (2014)
35%

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Brand portfolio addresses all segments of basic apparel

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Branded Apparel competes in a $15B addressable market
3%
Warehouse 3%
4% Other
Sports Clubs
Speciality
Growth Drivers
9%
Off-price
• Developing Gildan® into the leading
Addressable market and
55% family apparel brand across all
channels of distribution Mass /
Dollar Chains
addressable product categories
26% $15B
Department Stores /
National Chains
• Leveraging iconic GoldToe®
heritage into underpenetrated
channels and peripheral products

• Creating value via licensing and

30%
premium sports brands
35% Men’s and boys’ relationships
Ladies underwear
intimates
Addressable market
product categories
• Expanding operating margin through
improved merchandising, mix and
$15B SG&A leverage

10% 25%
Basic non-printed
Socks
activewear

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Source: NPD Retailers Tracking service Consumer data and management estimates, Retail U.S. dollars
The Gildan® brand – a value leader in the basic apparel
category
Brand positioning / vision
• Family brand of basic apparel with
product offering across all categories

• Value price point in every class of trade

• Highest standard of quality and best

product features

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A better value proposition for consumer and retailer
driving penetration in retail
Gildan® men’s underwear Gildan® men’s socks
#3 brand in unit share #2 market share position
(unit share %) (unit share %)

• Strong customer base established

• Quick penetration since launch in 2013
• Largest private label program converted to Gildan® brand
• Currently in 18,000 retail doors
• March 2016 market share of 17%
• On track for 10% unit share

• March 2016 market share of 8.4%

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Source: NPD Retailers Tracking service Total Measured Market Dec 2015, unit share
Growing and continued brand awareness opportunities
Gildan® total aided On-going marketing
brand awareness investments

98% 99%

Celebrity endorsement

54% Key driver of

42% TV advertising long-term
shareholder
value
15%

Sports sponsorship

Digital advertising

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Source: External brand awareness study

COMMERCIALS

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GoldToe® is the leading sock brand in Department Stores
and National Chains
Gold Toe® market unit share in
Department Stores and National Chains
• Iconic gold ‘toe’ heritage brand founded
in 1934

• #1 brand for men’s, ladies and kids in

Department Stores and National Chains

• Best in class positioning in all channels of

distribution

• Further developing distribution,

particularly in sports specialty, food &
drug and mass

• Expanding brand offering into peripheral

categories

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Source: NPD Retailers Tracking service Single channel Dept. Stores / National Chains, unit share
Leveraging sheer assets acquired in 2014 into a multi-
brand and multi-channel product offering

Launch of multiple sheer brands Leveraging Doris acquisition

• #1 sheer market share in Canada with

Silks® and Secret® brands

• Provides brand and category expansion

opportunities

• Opens Food & Drug channel in the U.S.

for non-sheer products

• Opens Canadian retailers for Gildan®

and GoldToe®

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Source: NPD Retailers Tracking service Consumer tracking Canada

Enhancing growth opportunities with Mossy Oak® &
Under Armour® brand licenses
Mossy Oak® traditional license to Under Armour® license partner for
lifestyle brand sports socks

From traditional “camo” print apparel

Expanding into broader everyday lifestyle apparel

• Predominantly sold through Sports

Specialty channel

• Revenue growth as Under Armour®

opens additional channels of distribution

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Leveraging our manufacturing platform by partnering with
premium leading global sports brands

• Strategic partnerships aligning with

our capabilities
• Provides access to categories that do
not compete with our own brands
• Attractive growth and return on capital

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Manufacturing
The success of our business is underpinned by our vertical
manufacturing

Unmatched capital expenditures in manufacturing

2011-2015 Capital expenditures and capital intensity

On-track to
capture $100M
of savings

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Source: Companies 10-K

Globally integrated apparel manufacturing footprint

• Capital investment of $1.7B since 2002

• 3 manufacturing hubs servicing North American and
international markets
• Yarn-spinning investments in excess of $400M
• 14 distribution centers worldwide
• 42,000 employees
• From cotton to customer in as little as six weeks, selling into
over 50 countries
Note: In U.S. dollars • Duty-free and quota-free access to essentially all markets
Continued investment in manufacturing capabilities and
capacity expansion
RN6 Bangladesh

Anvil facility Garment Dyeing

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Our commitment to acting responsibly ensures we are
making a positive impact
• Only North American company in the Textiles, Apparel and Luxury goods sector named
to the Dow Jones Sustainability World Index

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Note: In U.S. dollars

Rhodri J. Harries
Executive Vice-President, Chief Financial
and Administrative Officer

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2015 results driven by strong unit volume growth and
manufacturing cost savings

2015 consolidated results

Revenues Adjusted EBITDA Adjusted EPS

(in $U.S. millions) (in $U.S. millions) ($U.S./share)

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2015 Printwear results
Revenues
(in $U.S. millions)
1,634
1,458

Highlights
• Strong unit sales volume growth

• Comfort Colors® acquisition

outperforming expectations

• International sales up despite foreign

Operating income currency headwinds
(in $U.S. millions)
• Printwear operating margins resume
385
320
historical levels

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2015 Branded Apparel results
Revenues
(in $U.S. millions)
934
841
Highlights

• Strong sales growth in all product

categories, despite challenging retail
environment

• Benefit of new program wins in

– Mass
Operating income
(in $U.S. millions)
– U.S. food and drug
83 – Craft

60 • Operating margin expansion reflecting

benefit of manufacturing cost savings and
SG&A leverage

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Strong first quarter 2016 earnings growth

• Net earnings of $0.28 per share, up 17%

• Net sales of $593 million, in line with Company expectations

– Positive in U.S. distributor channel and core Branded Apparel sales growth
– Offset by anticipated headwinds
– Lower distributor inventory replenishment
– Exit of private label programs
• Adjusted operating margin expansion of 310 basis points

• 5.2 million shares repurchased for $140 million under NCIB

• Net debt leverage ratio of 1x adjusted EBITDA

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2016 Revenue and earnings outlook

Revenues
(in $U.S. billions)

2.57 Over 2.6 2016 sales and earnings drivers

• Unit volume growth in both segments

• Manufacturing cost savings and lower cotton

2017 growth drivers

• Unit volume growth in both segments,
manufacturing cost savings and lower cotton
Adjusted EPS
($U.S./share)
• Non-recurrence of 2016 sales-mix and FX
1.50-1.60
1.46 impacts

• SG&A leverage in Branded Apparel

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Strong projected cash flow and clear capital allocation
strategy to support value creation
Adjusted EBITDA Capital Allocation
(in $U.S. millions)

545-570
504 1. $150-$200 million per year of capex to
drive organic growth

2. Business acquisitions consistent with

defined acquisition criteria
– Complement organic growth strategy
– Ease of integration
Leverage
(Net debt / EBITDA)
– Financial criteria including IRR targets
1x to 2x 3. Return of capital to shareholders
– Dividends
0.6x – Share repurchases

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Creating value
• Continuing growth in Printwear in U.S. and international markets

• Driving strong top-line growth in Branded Apparel while expanding

operating margins

• Continuing to support brands with capital investments for capacity expansion

and cost reduction

• Free cash flow deployment and effective use of balance sheet to enhance
shareholder value
– Pursue acquisitions to complement organic strategy
– Return of capital to shareholders

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