Ritchie Bros. declares special cash dividend of $1.08 per share

Ritchie Bros. declared a special cash dividend on Ritchie Bros.’ outstanding common shares of $1.08 per share, payable to shareholders of record at the close of business on March 17. Payment of the special dividend is contingent upon the closing of Ritchie Bros.’ merger transaction with IAA which is expected to be consummated on or about March 20, subject to receipt of required shareholder approvals of the Merger and satisfaction of other customary closing conditions. Ritchie Bros. will not pay the special dividend if the Merger is not completed for any reason. Assuming the Merger is consummated on March 20, payment of the dividend will be made to eligible Ritchie Bros. shareholders on March 28. IAA stockholders will not be entitled to receive the special dividend with respect to any Ritchie Bros. common shares received as consideration in the Merger. The special dividend, if paid, will be considered an eligible dividend for Canadian income tax purposes.