Investor Presentaiton

• Biohaven acquisition accelerates Royalty Pharma returns • . Pfizer, a strong global marketer, is positioned to maximize the potential of Nurtec ODT and zavegepant ◉ Doubling number of sales representatives detailing Nurtec Acquisition (2) expected to accelerate Royalty Pharma's returns on common and preferred equity No impact on Royalty Pharma's royalty terms, which will provide long-duration cash flows Entitled to milestones of up to 1.9 to 2.95x funded Strong returns for Royalty Pharma shareholders (¹) ~1.8x potential cash return by H1 2023 $910m ($760m) $475m >$6bn peak sales 2-3% blended royalty $1,385m amount of $250m related to zavegepant (3) Pre-payment option may accelerate returns Total investment Payments through Accelerated H1 2023(4) milestone (if zavegepant approved) Total potential payments by H1 2023 Outflows Inflows Future royalties / milestones (through 2034-2036) Potential ~1.8x cash return by H1 2023 with further upside from continuing royalties and additional milestones ROYALTY PHARMA 1. Royalty Pharma Form 8-K, May 11, 2022. 2. Announced acquisition of Biohaven by Pfizer expected to close 1Q 2023. 3. If zavegepant's first regulatory approval in migraine is achieved, Royalty Pharma will receive total success-based milestone payments of $475m, or 1.9x the funded amount, related to this specific approval. Incremental payments of up to 1.05x the funded amount could be triggered by certain additional regulatory approvals. 4. Total inflows consist of common equity, preferred equity and estimated royalties received from Nurtec ODT through H1 2023 based on consensus estimates. 73

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