On May 16, 2024, Browning West, LP announced that two meritless lawsuits brought by the Gildan Activewear Inc Board of Directors against Browning West had been dismissed. Firstly, the Superior Court of Quebec dismissed the Board?s Hart-Scott-Rodino Act legal application in its entirety, refusing to hold that there was any violation of the HSR Act. The judge indicated that the appropriate forum for the parties' dispute is not the courtroom, but rather the upcoming shareholders?

meeting. Secondly, the Quebec Financial Markets Administrative Tribunal dismissed another application brought by the Board, which sought various orders regarding Browning West?s solicitation of proxies, including an order to prohibit Peter Lee from standing for election as a director of the company. The Tribunal concluded that the public interest would not be served by any of the relief sought by the company, stating: ?The company?s application aims to satisfy private interests, not the public interest.?

Browning West stated that it is seeking to elect eight independent director candidates Michael Kneeland, Glenn J. Chamandy, Michener Chandlee, Ghislain Houle, Mélanie Kau, Peter Lee, Karen Stuckey, and J.P. Towner to the company?s Board at the upcoming Annual Meeting of Shareholders scheduled for May 28, 2024.