Investor Presentaiton

Expanding opportunity Significant capital needs Innovative funding Facilitating M&A Differentiated sourcing Existing royalties created through licensing and partnering Pharma licenses and partnerships (average per approved drug) ~2x 3.1 Exelixis' Cabometyx: industry collaborations resulted in multiple royalties Exelixis and GSK GSK terminates collaboration, waives rights to compounds gsk GlaxoSmithKline collaborate to discover and develop compounds gsk GlaxoSmithKline Exelixis marketing, R&D agreement with Ipsen outside US, Japan IPSEN Exelixis marketing, R&D agreement with Takeda in Japan Takeda Royalty Pharma acquires GSK's royalty interest ROYALTY PHARMA 1.5 2010 2021 ROYALTY PHARMA Source: CaplQ, Visible Alpha 2002 2008 2016 2017 2021 3% royalty to GSK from Exelixis on net sales of any product incorporating cabozantinib Double-digit royalty to Exelixis from Ipsen on sales outside US, Japan Double-digit royalty to Exelixis from Takeda on Japan sales 3% royalty to Royalty Pharma from GSK 35

View entire presentation