SYNETIQ and LV= Insurance work together to make a difference

SYNETIQ, an IAA company and the UK’s leading integrated vehicle salvage, dismantling and recycling company, has launched a client initiative with LV= Insurance which sees unused keys sold to raise money for charity.

The two businesses have come together to sell unused keys for reuse to support the insurer’s chosen charity, FamilyAction – an organisation which supports families when they need it the most.

Hundreds of salvage vehicles pass through the SYNETIQ gates each week leaving unused keys to go to waste.

SYNETIQ already recycles 96.4% of all dismantled vehicles and by combining synergies of care and sustainability, SYNETIQ and LV= Insurance have found this initiative to be crucial to reducing waste further. The pair have so far raised over £500 for the charity with more to come.

The initiative involves LV= Insurance collecting keys that are no longer in use and sending to them to SYNETIQ every quarter. These keys are then resold, reused or recycled to minimise waste and raise money for charity.

Sarah Hirst, Client and Green Parts Director said: “We are proud to work with LV= on this project to sell unused car keys for reuse and help our client raise funds for their chosen charity.

“We care about making a difference to our clients, charitable causes and the planet. This is a simple impactful initiative that helps raise money for a great cause which is also sustainable.

“We look to roll this out to other clients in the future following the successful trial with LV=.”

Becci Yates, Claims Supplier Manager at LV= Insurance said: “We are delighted to work together with SYNETIQ on this project, not only to reuse keys but to raise funds for Family Action.”

Ed Pearce, Head of Corporate Partnerships at Family Action commented – “Partnership working is at the heart of what Family Action does, partnering with families to help them build stronger relationships, and working with organisations like SYNETIQ and LV= who share our vision to provide emotional, practical and financial help for vulnerable families”.

About SYNETIQ

SYNETIQ Ltd., the UK-based business unit of IAA Holdings, LLC (IAA), an RB Global, Inc. company, is the leading integrated salvage, dismantling and vehicle recycling company in the UK, formed to become the most innovative and trusted business in the industry. An integrated, data-driven and innovative business, SYNETIQ has led the way in raising industry standards and continually innovates ways of working to deliver great value, ensure complete compliance and a provide a positive experience. SYNETIQ is proud to have major household names in its portfolio, including insurers, accident management companies, fleets, police forces, logistics companies, vehicle repair body shops, and remanufacturers. With cutting-edge data and software solutions, multiple sites, a specialist vehicle recovery fleet and over 800 dedicated UK-based employees, customers and clients trust SYNETIQ to create bespoke solutions to deliver the maximum benefit for their business. For more information about SYNETIQ visit SYNETIQ.co.uk.

Forward-Looking Statements

IAA Holdings, LLC (as successor to IAA, Inc.) (“IAA”), a leading global digital marketplace connecting vehicle buyers and sellers, is now a subsidiary of Ritchie Bros. Auctioneers Incorporated.  SYNETIQ Ltd. is a wholly owned subsidiary of IAA.  This release includes forward-looking information within the meaning of Canadian securities legislation and forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). Forward-looking statements may include statements relating to future events and anticipated results of operations, business strategies, the expected timing and associated benefits with respect to the key recycling/donation programs established by LV and SYNETIQ, the predicted benefits of the same, and other subjects of this release on our business and plans regarding our growth strategies, and to our customers and company generally, and other aspects of RBA’s or IAA’s respective businesses, operations, financial condition or operating results and other statements that are not historical facts. Words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” “could,” “can,” “intends,” “target,” “goal,” “projects,” “contemplates,” “believes,” “predicts,” “potential,” “continue,” “foresees,” “forecasts,” “estimates,” “opportunity” and similar expressions identify forward- looking statements. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the combined companies or the price of RBA’s common shares. Therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. 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While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties.  Many of these risk factors are outside of our control, and as such, they involve risks which are not currently known that could cause actual results to differ materially from those discussed or implied herein.  RBA does not undertake any obligation to update any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law.