Ryder 2022 Investor Day

Earnings Expansion Delivers Attractive Return on Equity ROE TROUGH 16.5% 14.8% 14.9% 13.2% 12.7% 11.1% 0.3% 20.9% 24.0%-26.0% High Teens ROE Target • EARNINGS LEVERS SCS/DTS margin improvement • Lease pricing opportunity on remaining 60% of portfolio 2013 2014 2015 2016 2017 2018 2019 -1.3% 2020 2021 2022F • Maintenance cost savings Tailwinds from e-Commerce and supply chain disruption • Rental fleet mix ROE Expected to Benefit from Strength in FMS Returns and SCS / DTS Growth Acceleration SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Ryder® RYDER 2022 INVESTOR DAY Note: Includes Non-GAAP Financial Measures such as ROE. Please see Appendix - Non-GAAP Financial Measures for the reconciliation to the GAAP Financial Measure Ever better.™ 90

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