Investor Presentaiton

Strong business momentum Diversified portfolio growth Efficient compounding engine Sustainable long-term growth Growth outlook has accelerated with strong business momentum Adjusted Cash Receipts (1) ("top-line") 2020-2025e CAGR outlook Total growth 6-9% Future royalty investments 7-10% 11-14% High-single digits Existing portfolio Half of total growth Mid-single digits At IPO (June 2020) Corporate Update (February 2021) Key drivers of increase since IPO ROYALTY PHARMA Today (May 2022) + Tailwinds: Strong commercial performance of Trikafta, Nurtec ODT, Promacta and Tysabri; additions of Evrysdi, Orladeyo, Tremfya and Cabometyx, all of which are performing well - Headwinds: Commercial performance of Imbruvica and Tazverik and mixed clinical data for omecamtiv Increasing long-term growth outlook by ~50% at midpoint versus previous range ACR: Adjusted Cash Receipts; IPO: initial public offering 1. See slide 114 for definitions and factors that may impact the achievement of our growth outlook. Growth outlook includes future royalty acquisitions and excludes development-stage pipeline candidate gantenerumab for Alzheimer's disease. Refer to the Appendix for a GAAP to non-GAAP reconciliation. 86

View entire presentation