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Q4 & fiscal 2014 Earnings Review and Update

February 27, 2015

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Forward looking statements

This presentation contains forward-looking statements.

Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions. Actual results may differ materially from those expressed herein. Additional information concerning factors that could affect the Company’s actual results is included in the Company’s filings with securities regulators. The Company undertakes no obligation to update publicly any forward-looking statements except as required by securities legislation.

All figures are in US dollars, unless otherwise noted.

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Update from Ravi SaligramChief Executive Officer

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RBA strategic roadmap to drive shareholder value

1 2 3Objective: Restore revenue & earnings growth, drive cash flow, improve RONA

Strategic Pillars

Key Strategies

Key Enablers * Disciplined execution * Analytical DNA * Accountability culture * Learning organization * Rewards & recognition* Talent development * Diversity to drive innovation

* Sustainable, profitable growth * Strong cash flow generation * Continuously improving RONAKey Outcomes

Operational Efficiencies & Effectiveness

A: Sales Productivity• Territory management & coverage

based on market potential • Consistent go to market processes• Improve selection, onboarding and

training of new hires• Consistently utilize sales tools

C: Org Structure and SG & A• Regional org structure with P&L and

B/S accountability• Target SG&A growth lower than

revenue growth• Flatten levels

D: Performance Metrics• P&L and balance sheet scorecard• Operational metrics• Accountability at all levels

Incentive Compensation• Tie to P&L and balance sheet measures• Revamp sales compensation

B: Processes & Systems• Modernize legacy systems• Salesforce.com as unifying platform• Focus on CRM• Enable scaling business & leveraging

multichannel

Balance Sheet Optimization

Existing site returns• High, medium and low site return

league table• Initiatives to improve medium

and low site returns• Dispose of excess assets

Cash Flow• Align organization & incentivize• Target Op FCF equal to net income

Organic Capital Spends• Target net capital spend <10%

revenue• Control spending on new sites• Focus on IT systems & site

maintenance

Capital Structure• Institute policy and priorities• Return cash via ongoing

dividends• Address option dilution• Invest in growth-driven M&A

A: Geographies• Drive depth vs breadth• Focus on the US• Grow UK , Germany and France• Evaluate Japan and China

strategic options

B: Sectors• Leverage construction• Focus on transportation• Grow agriculture• Evaluate Oil & Gas

C: Services• Scale RBFS• Pilot Logistics

D: Channels• Relaunch EquipmentOne• Drive Multi Channel

E: Segments• Accelerate strategic accounts• Develop global accounts

M & A• Tuck-ins and bolt-ons• Scale enhancers & needle movers • Accretive in relatively short time

frame

Growth Initiatives

F: Underwritten Contracts• Utilize aggressively• Minimize volatility

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Global offsite conference

Presented our new strategic roadmap to employees at a global offsite conference and All-Staff webcast• Alignment of department, team, and individual initiatives to the plan• Defined future expectations and new measures of accountability• Provided learning opportunities to re-emphasize key aspects of our business

Employee feedback has been overwhelmingly positive• 90% of employees stated they were even more optimistic about the future of Ritchie Bros. • 90% believe the new executive committee is aligned with the new strategy and can provide strong

leadership to the Company• 93% believe the Company can significantly increase shareholder value by executing the new strategy• 90% were more motivated and proud to be part of RBA, now that the Company is evolving from being the

best in auctions to being the best in asset management and disposition• 90% agreed with the concept that our auction services and EquipmentOne offering were “better together”,

to provide a menu of solutions to our customers

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Recent auction activity

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Orlando auction – Feb. 16-20• Record lots: 10,500+

• GAP of US$179 million

• Strong revenue rate

• Record revenues

Edmonton auction – Feb. 25 & 26• Record lots for Feb/March: 4,600+

• GAP of CAD$84 million; a 46% increase from the comparable auction last year

• Record revenue for an Edmonton sale at this time of year

• Encouraging pricing

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Oil & Gas price impact

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Behaviour of O&G sector exposed customers• Majority of customers have been through this before;

petroleum sector is historically cyclical• Not seeing any sense of panic in the market• Making smart, calculated adjustments to their fleets

Pricing• A very fluid marketplace still• Recent Edmonton auction had encouraging pricing

Success of recent Edmonton sale:RBA benefits from strong brand equity in Western Canada; reach into diverse

sectors; and strong customer relations.

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2014 Highlights

Double-digit adjusted 2014 EPS growth

$1.8 billion of online sales during 2014

CAD$1.4 billion of GAP in Canada

• 12% growth in annual adjusted EPS • Helped by unusually low tax rate

Operating free cash flow 119% of adjusted

net earnings

• Demonstrates the strength of our digital capabilities• Leading multi-channel player in our space

• 5th consecutive year of strong GAP growth in Canada• Bolstered by growth in both western and eastern

Canada

• Significant cash generating capabilities• OFCF 131% of unadjusted net earnings

Q4 and 2014 Performance Rob McLeod, Chief Financial Officer

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$799

$851

$1,1

50

$673

$1,0

40

$865

$1,1

95

$849

$1,0

00

$845

$1,0

73

$790

$1,1

07

$855

$1,2

29

$887

$1,2

41

$4,213

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Record gross auction proceeds

GROSS AUCTION PROCEEDS ($US millions)

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2011 2012 2013 2014

Record annual and quarterly GAP

2010

12-months trailing GAP

Quarterly GAP Quarterly GAP: Linear trend

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Three months ended December 31,

(in U.S.$000's, except EPS) 2014 2013 $ Change % Change

Gross Auction Proceeds 1,241,184 1,109,834 131,350 11.8%

Revenue Rate 11.16% 11.82% -66 bps

Revenues $ 138,457 $ 131,223 7,234 5.5%

Direct expense 17,518 17,196 322 1.9%

SG&A expenses 79,733 76,289 3,444 4.5%

Excluding depreciation and amortization 68,179 64,863 3,316 5.1%

Earnings from operations 41,206 37,738 3,468 9.2%

Other income (expense) 1,892 10,687 (8,795) (82.3)%

Effective tax rate 29.7% 28.0% 170 bpsNet earnings attributable to equity holders $ 29,284 $ 33,745 (4,461) (13.2)%

Adjusted Net Earnings attributable to equity holders 33,496 30,324 3,172 10.5%

Diluted Adjusted EPS $ 0.31 $ 0.28 0.03 10.7%

Q4 performance summary

Q4 FINANCIAL OVERVIEW

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113.

4

101.

3

127.2

92.3

117.1

102.

1

128.

3

106.

0

131.

0

99.0

141.

8

102.

2

138.

5

11.8% 11.2%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

13.0%

14.0%

15.0%

$0

$25

$50

$75

$100

$125

$150

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Revenue growth

Revenue fluctuates considerably between quarters due to seasonality and the number of auctions held in each period.

Revenue Rate fluctuations are due primarily to the performance of the Company’s underwritten contracts.

QUARTERLY REVENUE & REVENUE RATE ($US millions)

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2011 2012 2013 2014

Revenue Rate Revenue

11-12% Guided revenue rate range

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$27

$18

$33

$10

$22

$14

$30

$16

$30

$14

$39

$15

$34

$0$5

$10$15$20$25$30$35$40

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Q4 2014 net earnings

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2011 2012 2013 2014

RECONCILIATION OF ADJUSTED TO Q4 REPORTED NET EARNINGSattributable to equity holders

Per share

Net earnings $ 29,284 $ 0.27

After-tax impact of management re-org 4,212 0.04

Adjusted net earnings $ 33,496 $ 0.31

QUARTERLY ADJUSTED NET EARNINGS ($US millions)

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12 months ended December 31,

(in U.S.$000's, except EPS) 2014 2013 $ Change % Change

Gross Auction Proceeds 4,212,641 3,817,769 394,872 10.3%

Revenue Rate 11.42% 12.24% -82 bps

Revenues $ 481,097 $ 467,403 13,694 2.9%

Direct expense 57,884 54,008 3,876 7.2%

SG&A expenses 292,756 287,016 5,740 2.0%

Excluding depreciation and amortization 248,220 243,736 4,484 1.8%

Earnings from operations 130,457 126,376 4,081 3.2%

Other income (expense) 1,636 13,102 (11,466) (87.5)%

Effective tax rate 27.9% 29.8% -190 bps

Net earnings attributable to equity holders $ 91,490 $ 93,825 (2,335) (2.5)%

Adjusted Net Earnings attributable to equity holders 100,840 89,989 10,851 12.1%

Diluted Adjusted EPS $ 0.94 $ 0.84 0.10 11.0%

2014 performance summary

2014 FINANCIAL OVERVIEW

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Annual revenue growth

Revenue Rate fluctuations are due primarily to the performance of the Company’s underwritten contracts.

ANNUAL REVENUE & REVENUE RATE ($US millions)

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Revenue Rate Revenue

11-12% Guided revenue rate range

$357

$396

$438

$467

$481

12.24%11.42%

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

$500

2010 2011 2012 2013 2014

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2014 net earnings

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RECONCILIATION OF ADJUSTED TO REPORTED NET EARNINGSattributable to equity holders

Per share

Net earnings $ 91,490 $ 0.85

After-tax impact of management re-org 4,212 0.04

After-tax gain on sale of property (2,946) (0.03)

Impairment loss on Japan property 8,084 0.08

Adjusted net earnings $ 100,840 $ 0.94

ANNUAL ADJUSTED NET EARNINGS ($US millions)

$37 $37

$50$56

$76$85

$92

$65$74

$83$90

$101

$30$40$50$60$70$80$90

$100$110

FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014

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Capital metrics

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(Millions except for percent figures) 2014 2013 Change

Working capital $ 140.4 $ 110.1 27.5%

Dividends paid $ 57.9 $ 53.9 7.4%

($US Millions except for percent figures) 2014 2013 Better / (Worse)

Operating free cash flow $ 119.9 $ 150.9 (21)%

Working Capital Intensity -2.3% -1.4% 90 bps

Capex Intensity 6.2% 7.9% 179 bps

RONA (Return on Net Assets) 15.2% 15.3% (10)bps

Net Debt / Adjusted EBITDA 0.7x 1.0x 30%

BALANCE SHEET SCORECARD

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RBA evergreen financial model

Above model reflects our aspiration on how the model should work in the next 5 to 7 years

Performance Metric Avg. Annual Growth Targets

• GAP Growth (%) High Single Digit to Low Double Digits

• Revenue Growth (%) (1) Mid Single Digit to High Single Digit

• SG&A Growth (%) Will grow slower than revenues

• Operating Income Margin (& EBITDA Margin) 50 bps +

• EPS Growth (%) (2) High Single Digit to Low Double Digits

• Net Capex Intensity (3) <10%

• OFCF (4) % of Net Earnings >100%

• RONA (5) Increase 50 bps +

• Dividend Payout Ratio 55% to 60%

• Net Debt / EBITDA <2.5X

(1) Includes Tuck In and Bolt On acquisitions(2) Variances may occur in certain years based on tax rate that is influenced by geographic revenue mix(3) Net Capital Spending as % of Revenue(4) Operating Free Cash Flow(5) Return on Net Assets18

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2015 Expectations

• GAP to grow in mid single digits• Revenue to grow in mid single digits• Operating profit to grow low double digits• Operating profit margin in excess of evergreen model• EPS growth in mid to high single digit range

• Moderated due to normalized tax rate

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2015 – Organic growth expectations

2015 Variance –Potential impact of Foreign Exchange fluctuations

• Revenue growth could be nil compared to 2014• Operating profit growth in high single digits• EPS growth in the low single digits

Recent Dramatic FX rate swings could impact our business

Final CommentsRavi Saligram, Chief Executive Officer

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2015 priorities – focus on execution

1. Improve our revenue rate

– Laser focus on improving the performance of our underwritten business

2. Spur straight commission growth across all geographies

3. Increase our penetration in Transportation

– Targeted initiatives; building organizational capabilities and sector expertise

4. Optimize a go-to-market strategy for EquipmentOne

– “Better Together” approach using the RBA sales force

5. Program to target acquisition candidates

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2015: Pivoting from strategy to execution

Q&ARavi Saligram, Chief Executive OfficerRob McLeod, Chief Financial OfficerJim Barr, Group PresidentTodd Wohler, Chief Human Resources OfficerRandy Wall, President - Canada