Heritage Global Valuations Appoints Rick Wiorek as Director

Heritage Global Valuations (“HGV”), a division of Heritage Global Inc. (Nasdaq: HGBL), specializing in the valuation of commercial & industrial assets including inventories and machinery & equipment (“M&E”), announced today that Rick Wiorek, ASA, CEA has joined HGV as a Director.

Mr. Wiorek has over 34 years of experience in the appraisal of industrial machinery and equipment. He is certified by the American Society of Appraisers as an Accredited Senior Appraiser (“ASA”) and Association of Machinery and Equipment Appraisers as a Certified Equipment Appraiser (“CEA”) and is an active member of both associations. Based in Chicago, Mr. Wiorek will focus on appraisals that support asset-based lending, financial reporting, tax reporting and sales/leaseback transactions.

“Rick is joining our team as we continue to execute our strategy to build out the national platform for valuations. He brings a wealth of experience in valuation and investment in the Midwest market, and we are excited to have him on board,” said Charles Seeley, ASA, Managing Director of HGV.

“We're pleased to have Rick join our team; he will help us expand our already robust suite of asset valuation services. He is a knowledgeable industry veteran and will enhance our capabilities and our commitment to offer our clients the best possible asset valuation, liquidation, and consulting services,” stated Michael Goldstein, Executive Managing Director of HGV.

About Heritage Global Valuations

Heritage Global Valuations (“HGV") is a division of Heritage Global Inc. (NASDAQ: HGBL). HGV operates under the Industrial Assets business unit and specializes in the valuation of commercial & industrial assets including inventories and machinery & equipment (“M&E”). Valuations are developed based on a number of factors, including an extensive proprietary database containing information about past transactions, firsthand knowledge of the market, and relationships with original equipment manufacturers (“OEMs”) and dealers of industrial assets. Taking into account the economic and competitive environment of the industry in which the business operates, assuring an accurate and reliable appraisal which enables clients to make timely strategic decisions.

About Heritage Global Inc.

Heritage Global Inc. (“HG”) values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, and charged-off account receivable portfolios through its two business units: Industrial Assets and Financial Assets.

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