Ritchie Bros Auctioneers Incorporated : Investor Day 2020

Forward Looking Statements and Non-GAAP Measures

Caution Regarding Forward-Looking Statements

This presentation contains forward-looking statements and forward-looking information within the meaning of applicable US and Canadian securities legislation (collectively, "forward- looking statements"), including, in particular, statements regarding the benefits and synergies of the proposed Rouse transaction, future opportunities for the combined businesses of Ritchie Bros. and Rouse, the terms and conditions of the proposed Rouse transaction, the expected timetable for completing the Rouse transaction, future financial and operational results and any other statements regarding events or developments that Ritchie Bros. believes or anticipates will or may occur in the future. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan, "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate",

"intend" or "believe" and similar expressions or their negative connotations, or statements that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such

forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond Ritchie Bros.' control, including risks and uncertainties related to: the duration and impact of the COVID-19 pandemic on Ritchie Bros.' operations, the operations of our customers and general economic conditions, general economic conditions and conditions affecting the industries in which Ritchie Bros operates; each of Ritchie Bros.' and Rouse's ability to satisfy the acquisition agreement conditions and consummate the transaction on the anticipated timetable, or at all; Ritchie Bros.' ability to successfully integrate Rouse; the ability to realize anticipated growth and synergies in the Rouse transaction; the maintenance of important business relationships; our ability to commercialize new platform solutions and offerings; deterioration of or instability in the economy, the markets we serve or the financial markets generally; as well as the risks and uncertainties set forth in Ritchie Bros.' Annual Report on Form 10-K for the year ended December 31, 2019 and Ritchie Bros.' Interim Report on Form 10-Q for the quarter ended September 30, 2020, which are

available on the SEC, SEDAR, and Ritchie Bros.' websites. The foregoing list is not exhaustive of the factors that may affect Ritchie Bros.' forward-looking statements. There can be no

assurance that forward-looking statements will prove to be accurate, and actual results may differ materially from those expressed in, or implied by, these forward-looking statements. Forward-looking statements are made as of the date of this presentation and Ritchie Bros. does not undertake any obligation to update the information contained herein unless required by applicable securities legislation. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

This presentation contains certain non-GAAP financial measures. For a discussion of non-GAAP measures and the most directly comparable GAAP financial measures, see the Appendix to this presentation as well as our earnings release and our Form 10-Q interim report, which are available at: investor.ritchiebros.com. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understand and assessing our financial condition and results. Therefore, these measures should not be considered in isolation or as alternatives to measures of profitability, liquidity or other performance under GAAP. These measures may not be comparable to similarly-titled measures used by other companies.

This presentation also includes certain forward-lookingnon-GAAP financial measures. We are unable to present a quantitative reconciliation of this forward-lookingnon-GAAP financial information because management cannot reliably predict all of the necessary components of such measures. Accordingly, investors are cautioned not to place undue reliance on this information.

All figures are in US dollars, unless otherwise noted.

Strategic Vision

• Growth Agenda

• Strategic Pillars Overview

• Organization Changes

• Learning Organization

Ann Fandozzi

Chief Executive Officer

Strategic Vision

The trusted globalThe trustedmarketplaceglob l mark tplace for for insights,

insights, services, and transaction

solutions for commercial assets.

services, and transaction solutions for

commercial assets.

Growth Agenda

Time (Eastern)	Section
10:00 - 10:20	CEO Perspectives
10:20 - 10:25	Employee Experience
10:25 - 10:30	ESG
10:30 - 10:50	Learning Organization
10:50 - 11:15	Question and Answer
11:15 - 11:25	Break
11:25 - 11:45	Marketplace
11:45 - 11:55	Customer Experience
11:55 - 12:10	Finance Review
12:10 - 12:20	Closing Remarks
12:20 - 1:00	Question and Answer

Topics

• Strategic Pillars Overview
• Organization Changes
• Learning Organization
• Employee Experience
• Diversity and Inclusion
• Inaugural sustainability report
• North America Growth Strategy
• International Satellite Site Strategy
• Inventory Management System
• Data & Analytics
• Service
• Marketplace implications for Strategic Accounts
• Enabling Innovation and Speed to Market
• Buyer / Seller Journey
• Deconstructing Sales Day
• Review of Financial Performance
• Refreshing Evergreen metrics
• Capital Allocation Strategy
• Excited about the future

Speaker

Ann Fandozzi, Chief Executive Officer

Carmen Thiede, Chief Human Resources Officer

Ann Fandozzi, Chief Executive Officer

Kari Taylor, President, North America Sales Karl Werner, President, International

Executive Team

Matt Ackley, Chief Marketing Officer

Jeff Jeter, President, Global Strategic Accounts Baron Concors, Chief Information Officer

Jim Kessler, Chief Operating Officer

Sharon Driscoll, Chief Financial Officer

Ann Fandozzi, Chief Executive Officer

Executive Team

Management Team Brings History of Shareholder Value Creation and Experience

Ann Fandozzi	Sharon Driscoll	Jim Kessler	Karl Werner
Chief Executive Officer	Chief Financial Officer	Chief Operating Officer	President, International

Kari Taylor	Jeff Jeter	Kieran Holm	Carmen Thiede
President, North America Sales	President, Global Strategic Accounts	President, RB Services	Chief Human Resources Officer

Baron Concors

Matt Ackley

Kevin Geisner

Darren Watt

Chief Information Officer

Chief Marketing Officer

Chief Strategy Officer

Senior Vice President & General Counsel

	Strategic Vision
	Growth hypothesis before joining
Current	Potential

USA

Canada

International

Canada

USA

International

Now the rest of the story…

Canada

USA

International

Strategic Pillars

The trusted global marketplace

for insights, services, and transaction

solutions for commercial assets.

Executive Leadership Team Changes Aligned to Strategy

The trusted global marketplace

for insights, services, and transaction

solutions for commercial assets.

Jim Kessler	Carmen Thiede	Baron Concors	Kevin Geisner	Kari Taylor
COO	CHRO	CTO	CSO	Pres. NA Sales

2020 - COVID-19 Learnings

The World

Out of our control: COVID

• COVID-19
• Government policy
• • Boarder restrictions
  • Size, shape, type and focus of Stimulus
• COVID-19impacts on business confidence and macro environment

In our control

•	Health and safety of our employees and customer	•	Efficient operations
	through COVID-19 protocols		•	Not ramping
	•	Corporate staff from home		•	Sale day 100% online
	•	PPE for employees and customers		•	TAL for agriculture and international
	•	Alter work shifts to improve social		•	Scheduling of equipment pick up
		distancing	•	Market Demand
•	People			•	Marketing tools that we are enabling by
	•	Transparent dialog			driving all transactions online
	•	Maintaining "Team feel" during these tough	•	Technology
		times - we are all in this together		•	Capacity, functionality, usability
100%	•	Keeping everyone focused on our "True	•	Capital allocation
80%		North" - being there for our customers		•	No long paying down debt
60%				•	Acquiring Rouse
40%
20%
0%

-20%-40%

-60%

12-31	01-31	02-29	03-31	04-30	05-31	06-30	07-31	08-31	09-30	10-31	11-30
2019-	2020-	2020-	2020-	2020-	2020-	2020-	2020-	2020-	2020-	2020-	2020-
					RBA		S&P 500		TSX

Source: Bloomberg; dividends reinvested in index or equity; daily returns 2019-12-31 to 2020-12-03

Learning Organization: Adapting to Help Our Customers

• Pilot improvements in markets across the globe
• Use flexible resources where possible

• Clear KPIs

• Fail fast

• Celebrate success and failure

Test Learn

Scale

• Quickly adopt successes across the organization

Employee Experience / Diversity and Inclusion

• Employee Experience

• Diversity and Inclusion

Carmen Thiede

Chief Human Resources Officer

Delivering the Best Employee Experience

Creating a common framework of the desired Employee Experience to prioritize our programs, mindshare and spend to support the Moments that Matter

#MyRBStory

My First	My	My	My	My Life	My making a
Impression	Rewards	Development	Leader	Moments	Difference
Candidate Experience	Benefits	New Opportunities	Leader Development	Work Anniversaries	Community Giving
Onboarding	Compensation	Skill Building	Regular Check Ins	Life Events	Volunteering
	Recognition				My Voice

Our Ritchie Bros. Values

Connecting with Our People & Communities

Four BLM Committees

Communication

Talent Practices

Greater Vancouver Food Bank

Education / Training

Community

ESG

• Inaugural sustainability report

Ann Fandozzi

Chief Executive Officer

Our Inaugural ESG Report

Doing Our Part for ESG: Enabling the Circular Economy

To be a great global company, you have to be a great local company.

At The Heart

Of The

Circular

Economy

Ritchie Bros. is one of the world's largest "practical green" re-commerce companies,

meaning we enable and encourage the market liquidity of heavy equipment and trucks like no other. Each year, hundreds of thousands of customers use our solutions and services to re-use and recycle previously owned assets, given them a new life and avoiding landfill waste.

Test, Learn, Scale

• North America Growth Strategy

Kari Taylor

President, North America Sales

Spearheading Growth as a Thriving, Learning Organization

Building blocks for this growth initiative bring clarity to…

what we sell through named initiatives, framing solution selling

how we intersect complementary digital touch strategies

how we challenge news sales coverage models to move faster and cover more opportunities, and

how we solve for greater market reach and seller productivity

Cascading successes as trusted business advisors, selling solutions,

to inform sustainable growth across North America.

Building Capacity Through Enhanced Sales Coverage Model

from one-size fits all to a customer segmented approach

Short Tail Customers

Long Tail Customers

Territory

Manager

All accounts

All selling skills and efforts

Short Tail Customers	Long Tail Customers

Account	Business	Inside Territory
Manager	Development	Manager
	Manager

'Farmer'		'Hunter'		Hybrid
Assigned accounts		New Business		High Touch
Share of Wallet

Evolving How We Sell to Unlock Our Addressable Market

+ +

Relationship-based selling	Activity-based selling	Initiative-based solution selling
	(SAGE)

Relevance | Value-add

Credibility | Respect | Trust Capacity | Velocity | Reach

Trusted Advisor

21

Morphing Our Sales Team, Armed With Data and Analytics, Into Trusted Advisors

Customer Targeted

Evolving Sales			Reseller Solution
Process
Oil & Gas Targeted

Campaigns

Scaling 'SARP'

(Streamlined At Risk Program)

RPO Lease Buybacks

22

Cascading Proven Results To Accelerate Growth as a Learning Organization

Identify growth	Test and Incubate	Expand to
Initiatives	in Texas	other regions

H2-2020	Full Year 2021	Starting H2-2021
•	Sales coverage	•	Learn	•	Sub-initiatives to
	model	•	Iterate		cascade incrementally
•	Expanded solutions	•	Prove	•	(not dependent on one another)
	named by			Deployment triggered

sub-initiatives	by proven success
metrics

Incubating

Proving results

USA-No

CA

USA-So

CA

USA-C CA

Ca-No

Ontario

Ca-So

Ontario

Ca-

Quebec

SCALING

Test, Learn, Scale

• International Satellite Site Strategy

Karl Werner

President, International

Understanding the Customers Benefits of a Satellite Site

Online digital model allows us to transact globally, however we think equipment transportation costs remains a hurdle in attracting customers.

1. Yards closer in proximity to customers reduces transportation barriers and attracts customers and accessibility, brand awareness and online traffic
2. Customers value the care, custody, and control that is offered by physical locations as it reduces friction in the transaction process and supports the online marketplace
3. Satellite sites have a lower cost profile compared to traditional auction sites and can generate incremental GTV with high ROI

We Gained Confidence With Our Australia "Mini-Test" in 2020

Results

Overall, very positive results and feedback from customers during the initial test pilot

Satellite sites further expanded RB's online presence with sellers and buyers around each site vicinity

Perth, Australia

• GTV up 85% in 2 years
• YoY Online session - 48%
• YoY User growth - 35%

COVID-19 further accelerated customer adoption of online platforms

Confirming Our Hypothesis at Scale in 2021

Proprietary Satellite Site Selection Methodology

Blending quantitative and qualitative factors

Quantitative		Qualitative
(Data Science)		(RB Sales Team)

Validation

Australia

1. Identify additional satellite sites using our proprietary site selection methodology
2. Open 3 additional satellite sites in Eastern Australia (Adelaide, Mittagong, Dubbo)
3. Nurture our existing sites in Perth, Brisbane, and Geelong

GTV potential heat map

Site Selection

1

1 Brisbane Auction Yard

2 Geelong Auction Yard

3 Perth Satellite Yard

The successful test pilot serves as a proof point

for our yard selection methodology

3	Planned '21 Satellite Yards

Potential

2

Confirming Our Hypothesis at Scale in 2021

GTV potential heat map

United States Example

1. Continue to scale our learnings and insights from Australia to the US and abroad

2. Accelerate the adoption of the online marketplace with additional satellite sites to provide a seamless online and offline experience

Potential

Replicating our successful pilots to accelerate and scale organic growth in Australia and the US

Question & Answer

Ann. Fandozzi

Chief Executive Officer

Kari Taylor

President, North America Sales

Baron Concors

Chief Information Officer

Sharon Driscoll

Chief Financial Officer

Jeff Jeter

President, Global Strategic Accounts

Matt Ackley

Chief Marketing Officer

Jim Kessler

Chief Operating Officer

Kieran Holm

President, RB Services

Kevin Geisner

Chief Strategy Officer

Karl Werner

President, International

Carmen Thiede

Chief Human Resources Officer

Darren Watt

Senior Vice President &

General Counsel

10 Minute Break

Evolution to Marketplace

Trusted

Advisor

RBFS

Marketplace

IronPlanet

Xcira

Rouse

Mascus

Ritchie Bros.

Live auction

Marketplace

• Inventory Management System

• Data & Analytics

• Service

Matt Ackley

Chief Marketing Officer

RBAS Represents a New Way to Go to Market

Making It Easier to Add Inventory

Taxonomy and Classification Is Key to Valuation

The End Goal Is Better Decision Making for Our Customers

Enable Predictions with Machine Learning and Better Data

A Platform to Enable an Entire Suite of Services

Branded Webshops		Third Party
		Marketplaces

		RB Reserved Online
RB Mascus Listings
	Marketplace
Site

RB Unreserved	RB Unreserved
Online Marketplace	Online Marketplace

Channels	Inventory Management System
	PUT THE CUSTOMER IN THE DRIVER'S SEAT
•	Web-Based, Mobile	•	Asset Management,
•	Friendly Tool		Status Visibility
Dashboards	•	Business Rule
•	Channel Workflow		Management
•	Management	•	Asset Disposition
User Management		Scheduler
	Customer	Smart DIY	Spreadsheet
	Data	Data Input
	Uploads
	Integrations	Forms
	Buyer Wins	TM's Load	Scraping
	Asset(s) in an	Assets Into
	Assets
	RB Channel	MARS

Data Analytics/

Insights

Data

• Decision-MakingTools
• Market Trends
• RB Asset Valuator
• RB Price Estimate
• Depreciation Curves
• Reports & Dashboards
• Fleet Recommendations

Services	Services

• Inspections
• Storage
• AAS
• Redeploy
• R&R

Marketplace

• Marketplace implications for Strategic Accounts

Jeff Jeter

President, Global Strategic Accounts

Marketplace

• Enabling Innovation and Speed to Market

Baron Concors

Chief Information Officer

Future State - Microservices Architecture

• Microservice architecture allows a system to be divided into several smaller, individual and independent services.
• Organized around business capabilities not technologies.
• Improved productivity and speed by decomposing

applications into manageable services that are faster to develop.

• Flexibility in Using Technologies - each microservice can be written using a different technology.

• Improved reliability - if a service does down, it does not impact the rest of the platform.

• Autonomous, Small, Cross-functional Teams

Video Streaming Platform Example

UI Microservice

Most Liked		Video Uploading		Content
Microservice		Microservice		Microservice

User Info		Most Trending		Recommendations
Microservice		Microservice		Microservice

Creating a Business Capability Map to Serve as a Blueprint for Microservices

Transactions

Bids, Offers

Listings

Fraud	Risk
Prevention	Management

Inventory

Assets Taxonomy

Inspections Pricing

Buyer Experience

Browse/

My AccountContent Financing

Search

Item Details

Checkout

Payment

PriorityBid

Exposing Our Microservices Through APIs Will Fuel Growth and Innovation

Third Parties

		Mobile & Web
Microservices	APIs	Applications

Customer Experience

• Buyer / Seller Journey

• Deconstructing Sales Day

Jim Kessler

Chief Operating Officer

Customer Experience Initiative

Ritchie Bros. Auctioneers

60+ years of live auction operation experience

• Continued evolution of how we interact with our customers
• • Ritchie Bros Auctioneers built over the last 60 years with a live event as the focus
  • Iron Planet built for an online/digital experience over the last 20 years
• Bringing together live and online operations while viewing it through the lens of our customers
• • Started with MARS which is currently in process of building a singular back end support system regardless of marketplace
  • Adding a detail customer journey map so we understand every touchpoint from a seller and buyer point of view
  • We will measure success with a new Customer Effort Score

Our goal is to be the easiest to interact with

Iron Planet

20+ years of online auction experience

combining operations through a customer lens

Customer Experience - Need for Ease

Six-month Observations

• Ritchie Bros. will solve any issues or problem that occur with any of our customers
• Areas of Opportunity
• • Understanding and researching why customer issues arise and then ensuring the journey for the customer is intuitive
  • We need to manage, streamline and have full visibility into our third-party partners part of the customer journey since our customers don't distinguish between our partners and us
  • Finish building out MARS and reorganizing our operating teams to be agnostic of marketplace

We need to measure how easy we are to interact with

Customer Journey Mapping - Buyer and Seller

Buyer Journey Map

	Landing Page
Email	Social Media		Win Item	Receive Payment Confirmation	Event Marketing
Affiliate Websites
Paid Content	Confirmation of Bid	Receive Release Ticket
		Bidder Watchlist
Account Creation		Auction Ended Email
	Confirmed Bidding Privileges	VeriTread Welcome Email
Search Engine	Request Bidding Privileges
		Email Marketing
	Account Confirmation		VeriTread Bids
Social Media	Account Validation		VeriTread Bid Expiry Email

Awareness	Evaluation	Decision	Retention
Brand Research, Customer Engagement	Service Selection	Contracting, Asset Marketing	Brand Research, Customer Engagement
Referral			Receive Title
		Shipment Arranged	Bidder Call Campaigns
Radio, Print, Ads			TM Playbook Activity
			Pickup Item
PR

Customer Journey Mapping - Buyer and Seller

Seller Journey Map

	Email	Inspection Report Complete	Marketing
Paid Content	Landing Page	Inspection Fee Invoice	Buyer Invoiced
Search Engine	Social Media	Payment Info Requested	Item Payout
Social Media	Obtain Asset Lists		Pick-up Pending
	Affiliate Websites	Contract Emailed	Sold

Awareness	Evaluation		Decision			Retention
Brand Research, Customer Engagement	Service Selection		Contracting, Asset Marketing	Brand Research, Customer Engagement
Referral	LGG Call Center	TM Introduction	Obtain Title	Relist
		Obtain POC Info
Identify Opportunity		Cross Sell VAS		Return Asset	Abandonment
Radio, Print, Ads				Inspector Confirms
	Analyze Customer Needs	Negotiations
PR	TM Introduction			Inspection Scheduled	TM Relationship Management

Customer Effort Score (CES) How to Measure

Customer Effort Score (CES) 1 is a type of customer satisfaction survey used to measure the ease of service experience with an organization. It asks customers to rate the ease of using products or services on a scale of

"very difficult" or "very easy."

Implementation of CES - Keep It Simple 1

Customer Effort Score (CES) =

% Easy

% Difficult

Potential Opportunities to Measure CES in the Consignment to Cash Process

Pre-Contract

Pre-Sale

Sale Day

Post-Sale

Refurb &

Prepare

Prepare Risk

Contract

Asset Delivery to

Collect

Release & Pickup

Dispute

Proceeds

Appraisals Transport

Consignment

Refurb

Titles Liens/Search

Inspection

YOM Review

Sequencing Sale Day/Sold

Release Title

Contract

Signature

Auction Site

Payment

Equipment

Resolution

Dispursed

Requests

Contract

Seller

Seller

Seller Buyer

Buyer

Buyer

Seller

&

Buyer

1 Source: QuestionPro.com

Deconstructing Sales Day

		Customer Celebration/						Catalog/Brochure
		Appreciation

Ramping		In-person Registration

Equipment Evaluation								Networking/
							Industry Events

Finance Review

• Review of Financial Performance

• Refreshing Evergreen Metrics

• Capital Allocation Strategy

Sharon Driscoll

Chief Financial Officer

History of Delivering Results for All Stakeholders

• Initial period of transforming into technology enabled company
• Prepared to enable seamless transition into 100% online bidding

Evergreen Model Score Card

Introduced in 2015 Average Annual expectation over a 5-7-year period

2015 Investor Day

Current

Strong share price outperformance

230%

Measure

Metric

2015 - LTM

MeasureMetric

3Q 2020

180%

Gross transaction Value

Agency Proceeds

Adjust EPS Growth

OFCF as a % of Net Income(2)

Dividend Payout(2)

Net Debt to Adjusted

EBITDA

ROIC Increase

High Single Digits to Low Double Digits

Mid Single Digits to High Single Digits

High Single Digits to low double digits

Greater than 100%

55%-60%

Less than 2.5x

50 bps+

Service revenue growth(1)

Adjusted EPS Growth

OFCF as a % of Net

Income(2)

Dividend Payout Ratio(2)

Adjusted Net Debt to Adjusted EBITDA

ROIC

High single digit to low teens

Low double digits to mid teens

Greater than 100%

55% - 60%

Less than 2.5x

15% by 2021

CAGR: 4.2%

CAGR: ~11%

CAGR: ~10%

~131%

~58%

Current:

0.5x

Current:

12%

130%

80%

30%

-20%

2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31
			RBA		S&P 500		TSX

1. Due to 606 accounting changes, we now use service revenue growth instead of total revenue
2. Period Average : 2015 to 2019, and LTM 3Q 2020
3. Compounded average growth rate used 2014 as base year

Source: Bloomberg; dividends reinvested in index or equity; daily returns 2014/12/31 to 2020/12/03

KPIs

	Steady Gross Transaction Value Growth	CAGR 4.2%
		2014- 3Q LTM 2020
6,000	CAGR 4.1%
	2014-2019
5,000
4,000
US$M
3,000
2,000
1,000
0

2015	2016	2017	2018	2019	LTM 3Q 2020
			Service GTV		Inventory GTV

Strong Operating Free Cash Flow

	300									250%
										260
	250	182				131%				Income
	200				AVG		210%
US$M	150				151%					145% 170%	Adj.Net
	100											/
										130%	OFCF
	50
	0										90%
		2015	2016	2017	2018	2019	LTM 3Q 2020
				Operating Free Cash Flow			Operating Free Cash Flow / Adjusted Net Income

Total Revenue Masks Strength in Service Revenue

1,400	1326

	1,200	1080												CAGR
	1,000										15%
													10.8%			10.6%
US$M	800										10%
600										5%
										1.3%	1.2%
	400										0%
	200
										-5%
	0										-10%	-7.5%			-8.1%
	2015	2016	2017	2018	2019 LTM 3Q
										2020				2014-2019	2014- LTM 3Q 2020
				Service Revenue			Inventory Revenue			Inventory Revenue		Service Revenue Total Revenue

Adjusted Operating Income & Adjusted EPS

	300								262	$3.00
	250									$2.50
	200	166							$1.62	$2.00	EPS
$M	100							$1.00
								Adjusted
	150									$1.50
			$1.13
	50									$0.50
	0									$0.00
	2015	2016	2017	2018	2019	3Q LTM 2020
				Adjusted Operating Income		Adjusted Earnings Per Share

*Compounded Average Growth Rates uses 2014 as base

Cumulative OFCF and Cash Returned to Shareholders

Cumulative Operating Free Cash Flow ($m)

Cumulative Cash Returned to Shareholders

		2015 - Q3 2020				2015 - Q3 2020
										179
									126
								84
					1,106		84			433
				853		84			366
						283
							208
			555			135
		443
				64
	330
182					2015	2016	2017	2018	2019	Q3 2020
2015	2016	2017	2018	2019	Q3 2020
					Cumulative Dividends Paid	Cumulative Shares Repurchased

Over $1.1 billion cumulative OFCF generated since 2015 with > 55% returned to shareholders

Transitioning Post Pandemic to Refreshed Evergreen Metrics

Evergreen Metrics*

Gross Transaction	High single digits to low teens	• North America Growth Strategy
Value Growth	•	International Growth Strategy
	•	Satellite yard expansion

• IMS gateway to services

• RBAS platform adoption

Service Revenue Growth Low double digits to high teens • Data Monetization

• New Services Offerings

• Enhanced Customer Experience

• Modern architecture to scale and grow profitably

Operating Income Growth Greater than Service Revenue Growth • Enhanced sales and operations

productivity

			• Effective Working Capital
Operating Free Cash Flow		Greater than 100% of Adjusted Net Income
			management

* Targeted average annual performance level over a 5-to-7-year period

Capital Allocation Priorities: Flexibility

Source of Capital		Capex, Acquisitions, Partnerships to		Stakeholder Returns
		Fuel Growth

Strong Operating Cash	Dividend Growth
Flow Generation	for insights, services, and transaction
	The trusted global marketplace

solutions for commercial assets.

		Share		Debt
Debt Flexibility
	Repurchase		Repayment

Guiding Principles

OFCF > 100% of Adjusted Net Income	ROIC > WACC	Grow dividend as we grow

Closing remarks

Excited about the future

Ann Fandozzi

Chief Executive Officer

Estimated Total Available Market Potential - Leveraging and Growing our Marketplace​

Global Used Heavy Equipment

Annual Dispositions

$300B GTV

Dealer / Retail / Rental

$130B

Private Sales / Brokerage

$140B

Auction

$30B

Data MonetizationAppraisal & Inspection Services

TBD	$2B - $4B
	(Annual Revenue)

Parts and Services

Financial Services

$100B - $150B		$25B - $35B
(Annual Revenue)		(Annual Revenue)

Asset Management

Global Listings

TBD	35M listing per year
	+$75M Direct Annual Revenue Opportunity
	Advertising and Search
	TBD

Source: Ritchie Bros. internal estimates

Ritchie Bros. Investment Highlights

• Omni channel marketplace positioned for growth
• Market leader with brand, data and scale advantage
• Providing liquidity for used commercial assets through global reach
• Growth agenda supported by strong cashflow profile and balance sheet flexibility
• Learning organization unlocking growth through a test / learn / scale approach
• Experienced leadership team with a history of innovation and success

Question & Answer

Ann. Fandozzi

Chief Executive Officer

Kari Taylor

President, North America Sales

Baron Concors

Chief Information Officer

Sharon Driscoll

Chief Financial Officer

Jeff Jeter

President, Global Strategic Accounts

Matt Ackley

Chief Marketing Officer

Jim Kessler

Chief Operating Officer

Kieran Holm

President, RB Services

Kevin Geisner

Chief Strategy Officer

Karl Werner

President, International

Carmen Thiede

Chief Human Resources Officer

Darren Watt

Senior Vice President &

General Counsel

Join us on ZOOM

(link no longer valid)

Appendix

US GAAP

Reconciliation of Non-GAAP measures

The following tables reconcile non-GAAP measures referred to in this presentation to the most directly comparable GAAP measure reflected in the Company's financial statements.

Reconciliation of non-GAAP measures

Reconciliation of non-GAAP measures

Reconciliation of non-GAAP measures

Reconciliation of non-GAAP measures

Reconciliation of non-GAAP measures

Reconciliation of non-GAAP measures