Investor Presentaiton

A simple investment proposition in a highly complex industry Successful biopharma investing is extremely complex Drug pricing Competition, innovation Legal ROYALTY PHARMA offers a simple solution Efficient business of collecting share of top- line revenues on leading products Strong track record of product selection Rigorous diligence processes Commercial assessment Biopharma industry Regulatory uncertainty Highly diversified portfolio Scientific expertise Manufacturing Patent cliffs Significant binary risk ROYALTY PHARMA Minimal binary clinical risk Proven ability to replenish portfolio 29 29

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