Investor Presentaiton

Strong business momentum Diversified portfolio growth Efficient compounding engine Sustainable long-term growth We expect to deliver leading top-line growth through 2025 FY 2025e Commentary Adjusted Cash Receipts (non-GAAP) (¹) including future royalty acquisitions • "Top-line" $3.0 to $3.5 billion • 11-14% CAGR from 2020 to 2025e Payments for operating & professional costs ~($0.3) billion Adjusted EBITDA (non-GAAP) (1) Interest paid ACR: Adjusted Cash Receipts "G&A" Estimated to be between 8-10% of ACR $2.7 to $3.2 billion • Estimated to be between 90-92% of ACR ~($0.2) to ~($0.3) billion Modest potential increase from current levels ROYALTY PHARMA 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. 95

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