Ryder Recognized for Culture of Innovation and Excellence by Fastmarkets Global Awards for Steel Excellence

Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and commercial fleet management solutions, announces it is the Logistics/Transportation Provider of the Year for the 11^th Annual Global Awards for Steel Excellence by Fastmarkets. A prestigious panel of senior-level steel experts chose the winners from a pool of 90 finalists in 23 categories for offering world-class innovations, customer-centric solutions, and a culture of excellence.

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Ryder, which operates one of the largest flatbed fleets in North America, provides a guaranteed-capacity service offering, including customized trucks and specially trained drivers for the steel industry. The company’s dedicated transportation solution maintains a 99% on-time delivery rate on average and has one of the lowest collision rates in the industry. (Photo: Business Wire)

Ryder, which operates one of the largest flatbed fleets in North America, provides a guaranteed-capacity service offering, including customized trucks and specially trained drivers for the steel industry. The company’s dedicated transportation solution maintains a 99% on-time delivery rate on average, and with an equal focus on safety, Ryder has one of the lowest collision rates in the industry.

The judges also considered Ryder’s investment in new and innovative technology solutions such as its one-of-a-kind collaborative logistics platform RyderShare^TM, which eliminates long-standing industry silos and integrates multiple transportation and warehouse management systems into a single synergistic platform. The customer-centric solution enables all parties involved in moving goods through a supply chain to easily see potential problems and inefficiencies, collaborate in real-time, and take pro-active action to prevent costly delays and find efficiency gains.

“The steel and metals industry is looking for partners that can reliably make time-critical deliveries despite the complex routing and capacity constraints,” says Steve Martin, senior vice president of dedicated transportation solutions for Ryder. “That’s why we invest in technologies that enable real-time visibility and collaboration along with business intelligence tools and analytics to inform future decision making. Add to that Ryder’s logistics professionals with the expertise to make meaningful change, and it’s been a game-changer for customers.”

Still in the early stages of rollout, customers across industry sectors are already realizing significant results with the RyderShare technology. Those that rely heavily on service call centers have realized a substantial reduction in emails and phone calls and report increased productivity of up to 50%. Other customers report approximately 35% labor efficiency savings with improved ability to more effectively plan for receiving dock labor. Additionally, customers utilizing the real-time proof-of-delivery feature have realized immediate revenue recognition, eliminating previous delays of up to five days.

In addition to world-class innovation, judges also consider award finalists and winners based on evidence of significant advancements that result in cost savings, quality improvements, product performance, and other key measures of excellence in the steel industry. Fastmarkets announced the 2020 award winners during a virtual ceremony on July 23, and recognized all finalists in the May issue of Metal Market Magazine.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading transportation and logistics company. It provides supply chain, dedicated transportation, and commercial fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages more than 250,000 commercial vehicles and operates more than 300 warehouses encompassing approximately 55 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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