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Ritchie Bros. Mails Letter to Shareholders Regarding IAA Acquisition

VANCOUVER, BC,  - Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA) ("Ritchie Bros.") today issued the following letter reinforcing the outstanding value creation opportunity presented by the acquisition of IAA, Inc. (NYSE: IAA) ("IAA") and highlighting support the Company is receiving from many shareholders and independent third-party industry analysts.

The Company's Special Meeting of Shareholders to vote on proposals necessary to complete the IAA acquisition is scheduled for March 14, 2023. The letter, which is also being mailed to shareholders, and additional materials related to the Special Meeting can be found at www.RBASpecialMeeting.com.

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Defoliation is the shedding of cotton leaves that naturally occurs when leaves become physiologically mature. In this video, PhytoGen Cotton Development Specialist Shawn Butler, Ph.D., goes through the methods to determine when to break the cotton bolls open and see if they are ready for the picker. Nodes above cracked boll (NACB) and sharp-knife technique are two methods for determining harvestability.