Investor Presentaiton

Key messages 1 Strong business momentum Increasing outlook for growth and deployment 11-14% ACR (1) CAGR expected from 2020 to 2025 ~$10-12bn royalty acquisition opportunity over next 5-years 2 Diversified portfolio growth ~35 commercial therapies including 12 blockbusters and 9 newly launched therapies with significant growth ahead 10 exciting development- stage therapies 3 Efficient compounding engine Highly efficient business model generating significant cash flow for future royalty acquisitions Consistent low teens % historical unlevered returns 4 Sustainable long- term growth Expect to achieve ACR(1) CAGR of 10% or more over this decade ROYALTY PHARMA 1. ACR: Adjusted Cash Receipts; CAGR: Compound annual growth rate 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 therapy gantenerumab for Alzheimer's disease. Refer to the Appendix for a GAAP to non-GAAP reconciliation. 83

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