Investor Presentaiton

Strong business momentum Diversified portfolio growth Efficient compounding engine Sustainable long-term growth Highly efficient business model generates significant cash flow Overview of 2021 non-GAAP metrics (1) $ in millions (except per share amount) Royalty receipts Distributions to non-controlling interests FY 2021 YoY growth (%) % ACR(1) Commentary 2,609 -480 2,129 18% 9% 1,944 20% 91% Adjusted Cash Receipts (non-GAAP) Payments for operating and professional costs -185 Adjusted EBITDA (non-GAAP) Interest paid and other expenses Development-stage funding payments - ongoing Development-stage funding payments - upfront & milestones Adjusted Cash Flow (non-GAAP) -193 1,573 -171 -7 $2.59/share(3) 1. See slide 114 for definitions. Refer to the Appendix for a GAAP to non-GAAP reconciliation. 2. There is no non-controlling interest related to post-IPO investments ROYALTY PHARMA 3. Based on fully diluted shares outstanding of 607 million as of December 31, 2021. 7% 74% Payments to legacy investors related to pre- IPO investments; declining % over time (2) "top-line" "G&A" expected to remain relatively constant as % of ACR (1) Adjusted EBITDA less interest paid $1.8bn to deploy = Reflects payments classified as R&D to align with new industry non-GAAP modification "bottom-line" 94 54

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