Investor Presentaiton

Core strategic pillars brought to bear in MorphoSys transaction 1 2 Existing royalties Tremfya gantenerumab otilimab Synthetic royalties / R&D funding pelabresib CPI-0209 3 Launch & development capital (¹) Development funding bonds Acquire existing royalties on market-leading or late-stage development therapies with high commercial potential Acquire newly-created royalties on approved or late-stage development therapies with strong proof of concept and high commercial potential Additional funding in exchange for long- term payment streams 4 ROYALTY PHARMA 1. Including equity investments. M&A related Illorphosys Constellation PHARMACEUTICALS Acquire royalties by facilitating M&A transactions 78

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