Ryder 2022 Investor Day

Non-GAAP Financial Measures This presentation includes "non-GAAP financial measures" as defined by SEC rules. As required by SEC rules, we provide a reconciliation of each non-GAAP financial measure to the most comparable GAAP measure. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. Specifically, the following non-GAAP financial measures are included in this presentation: Non-GAAP Financial Measure Operating Revenue Measures: Operating Revenue Operating Revenue Growth Total Revenue Total Revenue Growth Comparable GAAP Measure Reconciliation & Additional Information Presented on Slide Titled Reconciliation of Total to Operating Revenue Reconciliation of Revenue to Operating Revenue Growth FMS Operating Revenue, SCS Operating Revenue and DTS Operating Revenue SCS EBT as a % of SCS Operating Revenue, and DTS EBT as a % of DTS Operating Revenue Comparable Earnings Measures: Comparable EPS, and Comparable Core EPS Adjusted Return on Equity (ROE) FMS Total Revenue, SCS Total Revenue and DTS Total Revenue SCS EBT as a % of SCS Total Revenue, and DTS EBT as a % of DTS Total Revenue Fleet Management Solutions (FMS), Supply Chain Solutions (SCS) and Dedicated Transportation Solutions (DTS) Supply Chain Solutions (SCS) and Dedicated Transportation Solutions (DTS) EPS from Continuing Operations Not Applicable. However, the non-GAAP elements of the calculation have been reconciled to the corresponding GAAP measures. A numerical reconciliation of net earnings to adjusted net earnings and average shareholders' equity to adjusted average equity is provided in the following reconciliations. Comparable EPS Reconciliation and Comparable Core EPS Reconciliation Adjusted Return on Equity Reconciliation SCS Comparable EBITDA, and DTS Comparable EBITDA¹ SCS Net Segment Earnings, and DTS Net Segment Earnings Cash Flow Measures: Total Cash Generated and Free Cash Flow Cash Provided by Operating Activities SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Comparable Segment EBITDA Cash Flow Reconciliation RYDER 2022 INVESTOR DAY 1 We believe comparable segment EBITDA provides investors with useful information, as it is a standard measure commonly reported and widely used by analysts, investors and other interested parties to measure financial performance by segment. Ryder Ever better.™ 103

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