Ryder System, Inc. Loss Submission Form

(1) Ryder’s financial results were inflated as a result of the Company’s practice of overstating the residual values of the vehicles in its fleet; (2) there was no reasonable basis to believe that Ryder would sell its used vehicles for the amounts that it had assigned to them; (3) Ryder’s residual values for its fleet of vehicles exceeded the expected future values that would be realized upon the sale of those vehicles; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.