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            <issuerCik>0000085961</issuerCik>
            <issuerName>RYDER SYSTEM, INC.</issuerName>
            <secFileNumber>001-04364</secFileNumber>
            <issuerAddress>
                <ns2:street1>11690 NW 105th Street</ns2:street1>
                <ns2:city>Miami</ns2:city>
                <ns2:stateOrCountry>FL</ns2:stateOrCountry>
                <ns2:zipCode>33178</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>(305) 500-3726</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>KAREN M JONES</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
            </relationshipsToIssuer>
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        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>38th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>6843</noOfUnitsSold>
            <aggregateMarketValue>549673.56</aggregateMarketValue>
            <noOfUnitsOutstanding>46492233</noOfUnitsOutstanding>
            <approxSaleDate>05/16/2023</approxSaleDate>
            <securitiesExchangeName>NYSE</securitiesExchangeName>
        </securitiesInformation>
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            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>02/10/2023</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock Vested under Issuer S-8 Registered Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>6843</amountOfSecuritiesAcquired>
            <paymentDate>02/10/2023</paymentDate>
            <natureOfPayment>Services Rendered</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>05/16/2023</noticeDate>
            <planAdoptionDates/>
            <signature>/s/ Karen M. Jones</signature>
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144
0001586764
XXXXXXXX
LIVE
0000085961
RYDER SYSTEM, INC.
001-04364
11690 NW 105th Street
Miami
FL
33178
(305) 500-3726
KAREN M JONES
Officer
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
38th Floor
New York
NY
10004
6843
549673.56
46492233
05/16/2023
NYSE
Common
02/10/2023
Restricted Stock Vested under Issuer S-8 Registered Plan
Issuer
N
6843
02/10/2023
Services Rendered
Y
05/16/2023
/s/ Karen M. Jones