Investor Presentaiton

Strong business momentum Diversified portfolio growth Efficient compounding engine Sustainable long-term growth Proven track record and increased growth outlook Adjusted Cash Receipts (1) (2) ("top-line") 2010-2025e $0.5bn 2010 ROYALTY PHARMA CAGR: 13% $1.8bn CAGR: 11-14% $3.0-3.5bn 1 IPO 2020 2025e Powerful business model driving double-digit top-line growth $2.3-2.7bn estimated at June 2020 IPO IPO: initial public offering 1. Adjusted Cash Receipts for periods 2020 and earlier are pro forma for current non-controlling interests. See footnote (1) on slide 114 for additional information. 2. 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. 85

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