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Investor Presentaiton

Strong track record Unique model Large moat Significant opportunity Compounding growth Expanding opportunity set driving accelerated capital deployment 5-year forward capital deployment target Implied average annual cash deployed >$7bn (1) >50% ~$10-12bn (2) (year-to-year variability expected) $2.0-2.5bn (3) ~$1.5bn (1) $4.0-5.0bn Previous New May 17, 2022 Previous New May 17, 2022 Long-term potential Increasing 5-year forward capital deployment target to $10-12bn 1. 2020 to 2025 outlook for capital deployment provided on February 17, 2021. ROYALTY PHARMA 2. See slide 114 for factors that may impact our capital deployment target. 3. Royalty Pharma's 2020 to 2030 growth target assumes $2.0-2.5bn of capital deployed on average per year through 2030. 21
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