| CONSENSUS REPORT | FEB 17 2017

NYQ:GIL Gildan Activewear Inc How does this report work?

The ResearchTeam Consensus Report
aggregates ratings from multiple research
8 Ratings Providers 35 days DOWNGRADED 0.16% providers to provide a single rating that is more
2 BUY At current rating From Buy on 1/13/17 Total return since downgrade dynamic than any single provider.
Hold 6 HOLD
Find out more about our methodology on page 2.
0 SELL 24.84 5.86B 22.63 - 32.20
Last Close Price Market Cap 52 Wk Range

Performance & Ratings History Gildan Activewear Inc Performance S&P 500 INDEX Performance
Unauthorized redistribution of this report is prohibited. This report is intended for bbhia@mas.gov.sg (Markit Hub ID: 467419).

(Benchmark scaled to equity % change over the period for comparison)

FEB 2015 2016 2017 FEB 17

$35.00

$32.50

$30.00

$27.50

$24.84
$25.00

BUY HOLD SELL Correct Rating Incorrect Rating ResearchTeam's rating was correct 88.3% of the time, and incorrect 11.4% of the time.
Coverage was dropped 0.4% of the time, due to less than 7 ratings.

Provider Ratings Distribution = 1 providers rating

SELL HOLD BUY

FEB 2015 2016 2017

8
Consensus Rating

Consensus Total Return

Consensus Total Return compares the total return of the ResearchTeam ratings versus a stock's total return.
It measures the performance of the BUY and HOLD ratings, and excludes the performance of the SELL ratings. Consensus Total Return Gildan Activewear Inc Total Return

FEB 2015 2016 2017 30%

20%

10%

-10%

-20%

Since February 17, 2015, ResearchTeam Consensus ratings earned -13.6%, which is 0.2% more than the equitys total return of -13.8%.
 | CONSENSUS REPORT | FEB 17 2017

NYQ:GIL Gildan Activewear Inc

FEB 2015 2016 FEB 17

Detailed Ratings History

Equity Equity Rating
Rating Change Rating Period Price at change ($) Days at rating Performance Total Return Accuracy

HOLD Jan 13, 2017 25.11 35 -1.08% -1.08%

BUY Dec 30, 2016 - Jan 13, 2017 25.36 14 -0.99% -0.99%
HOLD Sep 7, 2016 - Dec 30, 2016 29.94 114 -15.30% -15.05%
DROP Sep 3, 2016 - Sep 7, 2016 30.01 4 -0.23% -0.23% NA
HOLD Jan 17, 2014 - Sep 3, 2016 27.23 960 10.23% 12.99%

How does ResearchTeam work?

BUY

The rating is generated based on a weighted

ResearchTeam is composed of highly
regarded, independant ratings providers,
each with their own ratings, criteria, and
ratings system.
composite of all the providers ratings.
The providers are analyzed and evaluated As a result, the ResearchTeam rating
for their strengths and weaknesses. is smarter and more accurate than any
individual provider.

Rating Methodology Rating Accuracy

Research provider ratings are uniquely averaged together to maximize their strengths and Stock total return over the rating period
minimize their weaknesses. The current team rule requires 7 research providers to provide a determines rating accuracy. An increase in
rating in order for ResearchTeam to issue a rating. The rating that is then issued is a smart average the stock return over the entire period of a
of all the research provider ratings that leverages providers strengths and minimizes providers BUY or HOLD rating is considered a correct
weaknesses based on historical performance and accuracy. rating. If a SELL is issued and the stock
price goes down, this is also a correct rating.
 | CONSENSUS REPORT | FEB 17 2017

NYQ:GIL Gildan Activewear Inc

Top Ratings Providers
There are multiple Ratings Providers that contribute to the Consensus. The following 5 providers were the most accurate for this stock over the last
year.

1 MarketGrader
www.marketgrader.com

MarketGrader.com is a quantitative system that analyzes publicly-traded companies based on a strict fundamental analysis. The system is
designed to help you do your homework on the companies you're considering as investments in a cost-effective way. It is best used when in
combination with qualitative analysis. MarketGrader's research currently covers approximately 5,500 U.S listed companies, including 400 ADRs
(American Depositary Receipts) of foreign companies. Our research covers ten economic sectors and almost 150 sub-industries.
MarketGrader.com is designed for accuracy and speed to provide you an instant yet comprehensive analysis of a company in only seconds.
While it should not be your only source of information on a stock, MarketGrader.com is a very good place to start as well as a good place to
monitor the stocks you own, follow or are considering for future investments.

2 Gradient Analytics, Inc

http://www.gradientanalytics.com/

Gradient Analytics is an independent equity research firm with expertise in financial analysis, forensic accounting, executive compensation, and
executive behavior. Our mission is to provide our clients with academically rigorous, unbiased, objective insight into the financial performance
and equity values of publicly traded companies. Our research is relied upon by mutual fund, hedge fund, and other professional money
managers.

3 Jefferson Research & Management

www.jeffersonresearch.com

Founded in 1989, Jefferson Research & Management is a quantitative fundamental research company, providing research to institutional clients
for more than 15 years. Dr. Bruce Gulliver, President and CIO, is a longtime investment professional who has substantial experience in industry
and financial analysis. The analysis focuses on the fundamental performance of companies and is organized into five dimensions: Earnings
quality, Cash Flow Quality, Operating Efficiency, Balance Sheet strength and Valuation. These ratings capture the interrelationship between
financial information and fundamental performance-essentially proprietary software replicates the forensic analysis of human analysts. The
ratings have proven to be useful in predicting stock excess and under performance.

4 Ford Equity Research

www.fordequity.com

Ford Equity Research is an independent investment research firm delivering unbiased, high-quality fundamental data, stock selection models,
stock ratings and analytical tools to institutional investment managers. Our mandate is straightforward: to improve the investment performance
of our clients. For more than 30 years, investment firms ranging from boutiques to global asset managers have placed their trust in Ford Equity
Research.

5 Columbine Capital Services, Inc.

www.Columbinecap.Com

Columbine Capital Services, Inc. is an independent equity research firm with offices in Colorado Springs, Colorado. Founded in 1976,
Columbine Capital has been serving the needs of institutional investors since the earliest days of quantitative investing. Our clients include
money managers, investment companies, banks and hedge funds in the United States, Canada, and the United Kingdom.