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Q3 2014 Earnings Review and Update

November 4, 2014

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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 strengths and core competencies

• Strong, profitable core auction business that has a significant runway in front of it

• Excellent operational competencies – particularly as it relates to the integration of our physical auction sites and internet bidding

• Passionate sales team who have an unrelenting conviction in the core auction model

• Highly loyal customer base

• Vast amounts of data: customer, equipment

• Strong balance sheet, strong cash flow generation

• Deeply committed employees, pride & passion in the company

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Opportunities for improvement

• Organizational silos that have created an internal focus

• Further integration of legacy IT systems to help leverage real time data

• Translating data into insights; creating an analytical framework to address key issues

• Growth and performance of EquipmentOne

• Increasing organizational focus on driving shareholder value

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Three key pillars to drive shareholder value

Accelerate Growth Optimize Capital Allocation & Structure

Drive Efficiencies

1 2 3

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4 key priorities for the months ahead

Putting in place the best leadership team with a “general management” focus

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Regional leadership structure closer to the ground

Clear accountabilities, Performance Metrics, Performance based Rewards & Recognition program

Improving performance of EquipmentOne

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2

3

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Implementing structure to increase accountability

• Putting in place regional business leaders with a strong general management focus to drive sustainable, profitable growth of the core auction business

• Implementing a more localized and decentralized structure to be more responsive and agile as a company

• Becoming more externally focused, and tailoring ‘go to market’ approaches based on customer needs and geographic differences

• Putting in place a strong data-centric, customer focused leadership team to exploit new channels, models and services and increase market share

• Leveraging vast customer and equipment data

New organizational structure is being implemented with the following objectives:

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New organizational structure (as of Nov. 4, 2014)

• Executive searches are underway for the roles of President, U.S. & Latin America; Chief Human Resource Officer; and Chief Financial Officer

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Focus on shareholder value

Long-term priorities

Better leveraging data & insights

Reinvigorating earnings growth

Pursuing an active and defined growth

strategy

• Data as the basis of marketing and sales initiatives • Better insight into how we can add value to our

customer relationships

Being better stewards of capital

• Renewed focus on revenue drivers and cost containment

• Improving performance of certain regions/sites

• Organic growth initiatives and M&A activity• Bolstering our presence in key market segments

• Focused on improving RONA• Clear policies on capital allocation and structure

Q3 Performance Rob McLeod, Chief Financial Officer

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Three months ended September 30 (in U.S.$000's, except EPS) 2014 2013 $ Change % ChangeRevenues $ 102,217 $ 105,800 $ (3,583) (3%)Direct expense 12,450 11,900 550 5%SG&A expenses (1) 69,962 68,502 1,460 2%

Excluding depreciation and amortization 58,556 57,687 869 2%Earnings from operations 19,805 25,398 (5,593) (22%)Other income (expense) (3,159) 1,420 (4,579) (322%)Income tax expense 6,288 9,207 (2,919) (32%)Net earnings (7) 9,342 16,296 (6,954) (43%)Adjusted Net Earnings (2),(3),(7) 14,480 15,881 (1,401) (9%)

Diluted Adjusted EPS (2),(7) $ 0.13 $ 0.15 $ (0.01) (9%)Gross Auction Proceeds (2),(4) $ 886,876 $ 789,640 $ 97,236 12%Revenue Rate (2),(5) 11.53% 13.40% n/a (14%)Direct Expense Rate (2),(5) 1.40% 1.51% n/a (7%)EBITDA Margin (2),(6) 30.5% 34.2% n/a (11%)

Q3 performance summary

Q3 Financial Overview

Please see footnotes in Ritchie Bros. Q3 2014 Management’s Discussion and Analysis.

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$751

$799

$851

$1,1

50

$673

$1,0

40

$865

$1,1

95

$849

$1,0

00

$845

$1,0

73

$790

$1,1

09

$855

$1,2

29

$887

$3,950 $3,990$4,080

$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

$1,800

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

Record gross auction proceeds

QUARTERLY GROSS AUCTION PROCEEDS ($US millions)

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2011 2012 2013 2014

Record 12-month trailing and third quarter GAP

2010

12-months trailing GAP

Quarterly GAP

Quarterly GAP: Linear trend

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Net earnings

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$6.5

$26.

8

$18.

0

$32.

5

$9.7

$22.

4

$14.

0

$29.

8

$15.

9

$30.

3

$14.

3

$38.

6

$14.

5

05

10152025303540

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32011 2012 2013 2014

RECONCILIATION OF ADJUSTED TO REPORTED NET EARNINGS Per share

Reported (GAAP) net earnings $ 9,342 $ 0. 09

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

After-tax impairment loss on Japan property 8,084 0.07

Adjusted net earnings $ 14,480 $ 0.13

QUARTERLY ADJUSTED NET EARNINGS ($US millions)

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$80

$113

$101

$127

$92

$117

$102

$128

$106

$131

$99

$142

$102

13.4%

11.5%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

0

25

50

75

100

125

150

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

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

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45%28%

15%12%

Q3 2014 United StatesCanadaEuropeOther

51% 26%

15%8%

Q3 2013

Q3 2014 metrics

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(Millions except for percent figures) Q3 2014 Q3 2013 Change

Underwritten contracts as % of GAP 30% 29% 1 p.p.

Operating expenses(Direct and SG&A, less depreciation & amortization)

$ 71.0 $ 69.6 2%

EBITDA $ 31.2 $ 36.2 (13.8)%

Effective tax rate 39.6% 35.9% 3.7 p.p.

REVENUE BY GEOGRAPHY (% of total revenue)

Impact of Dubai auction

Large U.S. deals in Q3/13

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Capital metrics

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(Millions except for percent figures) Q3 2014 Q3 2013 Change

Working capital $ 121.7 $ 85.4 42.5%

Dividends paid $ 15.0 $ 13.9 8.2%

(Millions except for percent figures) First 9 months 2014

First 9 months 2013

Change

Capex $ 30.3 $ 40.9 (25.9)%

Free cash flow (first 9 months)Excludes working capital changes

$ 82.2 $ 60.4 36.1%

Dividends paid $ 42.9 $ 40.0 7.2%

12 months trailing

Sept. 30 2014

12 monthstrailing

Sept. 30 2013

Change

ROIC $ 11.9 9.8% 2.1 p.p.

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Operations update

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• Added 4 net new TM’s during the quarter; Hired an additional 5 more TMs in October• Used equipment pricing remains stable, as it was through most of Q3

QUARTERLY TM COUNT

242 243258 259

273 280 273 272287 292 296

200220240260280300320340360380400

$500

$600

$700

$800

$900

$1,000

$1,100

$1,200

$1,300

2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3

Quarterly GAP TM Count 4 per. Mov. Avg. (Quarterly GAP) Linear (TM Count)

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Age of equipment sold through RBA auctionsOn a trailing 4-quarter basis, the average age of assets sold at our auctions was 11.07 years – down from a peak of 11.25 years for the 4-quarters trailing March 31, 2014.

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11.2

5

11.1

6

11.0

7

8

9

10

11

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Q1 2

009

Q2 2

009

Q3 2

009

Q4 2

009

Q1 2

010

Q2 2

010

Q3 2

010

Q4 2

010

Q1 2

011

Q2 2

011

Q3 2

011

Q4 2

011

Q1 2

012

Q2 2

012

Q3 2

012

Q4 2

012

Q1 2

013

Q2 2

013

Q3 2

013

Q4 2

013

Q1 2

014

Q2 2

014

Q3 2

014

Rolling 4 Quarters Avg Asset Age

AVERAGE AGE OF ASSETS SOLD

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Outlook

• Gross auction proceeds in the range of $4.1 billion• Revenue rate in the range of 11.0 – 12.0%• 2014 adjusted earnings before tax growth in “mid-single

digits” over 2013 (excludes expected restructuring charges in Q4/14)

• 2014 Capex of $40 – 45 million

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GUIDANCE OCTOBER GAP

• GAP of $356 million in October

• GAP of $4.08 billion for 12-months trailing October 31

Final comments and Q&ARavi Saligram, Chief Executive OfficerRob McLeod, Chief Financial OfficerSteve Simpson, Chief Sales Officer, Global Key Accounts