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Investor Presentaiton

Strong business momentum Diversified portfolio growth Efficient compounding engine Sustainable long-term growth Simple and efficient business model focused on cash flow Biopharma Sales of leading therapies Funding to partners New royalty acquisitions Return of capital (Dividends and potential share repurchases) Adjusted Cash(¹) Cash generated % of sales Receipts ("top-line") ROYALTY PHARMA for deployment Diversified portfolio of royalties Operating expenses ("G&A”) Adjusted EBITDA (1) Interest expense (Investment grade debt) Large diversified royalty portfolio generates significant cash to redeploy in new royalties ROYALTY PHARMA 1. See slide 114 for definitions. Refer to the Appendix for a GAAP to non-GAAP reconciliation. 84
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