Ryder has authorized a new discretionary share repurchase program. Under the new share repurchase program, Ryder management is authorized to repurchase up to 2.0 million shares of common stock, at its discretion, from October 9, 2024 through October 9, 2026. Ryder’s previously authorized 2.0 million share discretionary repurchase program, authorized in October 2023, was completed in September 2024. In addition to the newly authorized discretionary share repurchase program, Ryder maintains an anti-dilutive share repurchase program authorized in October 2023. Under this program, Ryder management is authorized to repurchase up to 2.0 million shares of common stock through October 12, 2025 that have been issued to employees under the company’s employee stock plans since August 31, 2023. This program is designed to mitigate the dilutive impact of shares issued under the company’s employee stock plans. Through September 30, 2024, 753,000 shares have been repurchased under this program. As of September 30, 2024, the company had approximately 42.3 million shares of common stock outstanding.