IAA IAA Inc

Luxor Group Capital, LP (“Luxor”), as the manager of funds owning 4.0mm shares of Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA) (“RBA” or the “Company”), representing 3.6% of the Company’s outstanding shares, today announced that it has issued an open letter with supporting materials to the Company’s Board of Directors. In its letter, Luxor details its serious concerns with the proposed merger between RBA and IAA, Inc. (NYSE: IAA) (the “IAA Merger”) and expresses its opposition to the deal. As such, Luxor announced its intention to vote against the IAA Merger at the Company’s yet-to-be scheduled special meeting of shareholders.

The full text of the letter and supporting materials may be viewed at the following link: https://www.luxorcap.com/RBA.pdf

About Luxor Capital Group, LP:

Luxor Capital Group, LP is a multi-billion-dollar investment manager, which was founded in 2002 and is based in New York. It makes investments through its fundamental, long-term oriented investment process. The firm has an extensive history of investing in global marketplaces businesses.

Contacts:

Investor ContactDouglas FriedmanLuxor Capital Group, LPRBA@luxorcap.com

Media ContactDouglas SnyderLuxor Capital Group, LPRBA@luxorcap.com