Hanesbrands — Merger or Acquisition (August 2025)
21 slides from Hanesbrands's merger presentation, Aug 13, 2025
Slide 1: Gildan and HanesBrands Agree to Combine To Create a Global Basic Apparel Leader
1 Gildan and HanesBrands Agree to Combine To Create a Global Basic Apparel Leader August 13, 2025
Slide 2: Forward-Looking Statements
2 In this Presentation, references to “Gildan” refer to Gildan Activewear Inc . , and, where applicable, together with its subsidiaries, and references to “ HanesBrands ” refer to HanesBrands Inc . and, where applicable, together its subsidiaries . Certain statements included in this presentation co
Slide 3: Presentation of Financial Information and Non-GAAP Measures
3 All dollar amounts set forth herein are expressed in U . S . dollars . Gildan’s financial statements are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”), and HanesBrands ’ financial statements are prepared i
Slide 4: Today's Presenters
4 Glenn Chamandy President, Chief Executive Officer Luca Barile Executive Vice - President, Chief Financial Officer Jessy Hayem Senior Vice - President, Head of IR and Global Communications Stephen Bratspies Chief Executive Officer Today’s Presenters
Slide 5: Global leader in basic apparel and iconic innerwear brands
5 5 Global leader and scaled manufacturer of iconic innerwear brands rooted in tradition and unrivaled retail presence Global leader in everyday basic apparel, with a state - of - the - art, vertically integrated manufacturing network Combination expands Gildan’s scale, increasing the strength of ou
Slide 6: Transaction Overview
6 Transaction Overview 1. Based on Gildan’s and HanesBrands ’ closing share price on the NYSE on August 11, 2025 2. Enterprise value calculated as fully diluted equity value, plus financial debt, plus underfunded pension liabilities, less ca sh and equivalents 3. Based on HanesBrands adjusted EBITDA
Slide 7: Combining complementary strengths to create a global basic apparel leader
7 Portfolio of Iconic Heritage Brands Led by Hanes Strong Retail Presence and Capabilities #1 Player in U.S. Innerwear Manufacturing Footprint in Central America, Caribbean Basin, Asia Combining complementary strengths to create a global basic apparel leader State - of - the Art Low - Cost Verticall
Slide 8: HanesBrands Operates a Global Portfolio of Iconic, Market-Leading Innerwear Brands
8 1. Circana , LLC, Retail Tracking Service, US, Total Innerwear, Total Men’s Underwear, Excluded: Hosiery, Dollar & Unit Share, 12 ME Jun e 2 025 2. HanesBrands Brand Equity Tracker, June 2025 3. BDA Brand Tracking HanesBrands Q2 2025 HanesBrands Operates a Global Portfolio of Iconic, Market - Lead
Slide 9: Scaled Financial Profile With Industry Leading Margins
9 ] Scaled Financial Profile With Industry Leading Margins 1. Reflects trailing twelve - month period ended June 29, 2025 2. Pro Forma net sales and Pro Forma gross margin (calculated as gross profit divided by net sales) reflect the sum of Gildan am oun ts reported under IFRS and HanesBrands amount
Slide 10: Complementary Portfolio Enhances Resiliency and Diversification
10 Complementary Portfolio Enhances Resiliency and Diversification Source: Public fillings and presentations, internal analysis Addition of HanesBrands’ Innerwear Brands Enhances Product Diversification 1,2 Balanced Channel Exposure given HanesBrands ’ Strong Retail Presence 1,2 $6.9B pro forma reve
Slide 11: Combination Enhances Scale and Furthers Gildan's Cost Advantage
11 Combination Enhances Scale and Furthers Gildan’s Cost Advantage 40+ combined facilities across the world 1. Includes a combination of facilities owned and operated by HanesBrands , and facilities owned and operated by dedicated contractors who perform some of the steps in the manufacturing proces
Slide 12: Significant Synergy Opportunity Across Supply Chain, Operations and SG&A
12 Significant Synergy Opportunity Across Supply Chain, Operations and SG&A $200M+ annual run - rate cost synergies expected 1 , evenly distributed across supply chain, operations and SG&A, leveraging Gildan’s best - in - class operational playbook Annual Run-Rate Expected Cost Synergies in 3 years
Slide 13: Building On Our Margin Leadership Position
13 20% 18% 17% 15% 13% 11% 10% 10% 10% 6% 4% ~3% Gildan PF Ralph Lauren Kontoor Levi's PVH Oxford Industries Carter's G-III Columbia Under Armour VF Corp Industry - leading margins driven by superior operational efficiency Building On Our Margin Leadership Position Source: Public fillings and presen
Slide 14: Enhanced Go-to-Market Capabilities Enable Cross-Selling Opportunities
14 Enhanced Go - to - Market Capabilities Enable Cross - Selling Opportunities Complementary go - to - market capabilities and channel strengths will drive incremental innovation and growth +Low - Single Digit % Organic Net Sales Growth 3 ~3 - 5% Pro Forma Organic Net Sales CAGR 1 +Mid - Single Digi
Slide 15: Clear Path to Long-Term Value Creation
15 Clear Path to Long - Term Value Creation 1 Long - term target net debt leverage ratio of 1.5x – 2.5x 2 Leverage ~3 - 4% of net sales Capital Expenditures Adjusted diluted EPS CAGR in the low 20% range 1,3,4 Adjusted Diluted EPS 2 Net sales CAGR of ~3 - 5% Net Sales Enhanced shareholder returns th
Slide 16: Compelling Strategic and Financial Rationale
16 Enhanced Diversification and Resiliency via Complementary Products and Channels Enhanced Global Low - Cost Vertically Integrated Manufacturing Footprint Significant Synergy Opportunity Driving Attractive Financial Profile Strengthened Go - to - Market and Retail Capability Set with Addition of Ic
Slide 17: Appendix – Definition of Non-GAAP and Other Financial Measures
17 Appendix – Definition of Non - GAAP and Other Financial Measures
Slide 18: Definition of LTM and Financial Information
18 References to “LTM” in this presentation means the trailing twelve - month period ended June 29 , 2025 . Gildan’s financial information for the LTM period ended June 29 , 2025 presented herein is unaudited and has been derived by adding Gildan’s unaudited interim consolidated financial informatio
Slide 19: Definition and Reconciliation of Selected Non-GAAP Financial Measures
19 Definition and Reconciliation of Selected Non - GAAP Financial Measures 1. Combined and pro forma reflect the sum of Gildan amounts reported under IFRS and HanesBrands amounts reported under U.S. GAAP. 2. Includes Gildan’s restructuring and acquisition - related costs and HanesBrands ’ restructur
Slide 20: Supplemental Financial Measures
20 Supplemental Financial Measures 1. Pro forma reflects the sum of Gildan amounts reported under IFRS and HanesBrands amounts reported under U.S. GAAP, with no pro forma adjustments. See “Presentation of financial information” at the beginning o f this Presentation 2. Gross margin is calculated as
Slide 21: sGILDAN HBI
sGILDAN HBI HANESBRANDS INC. END