Investor Presentaiton

Strong business momentum Diversified portfolio growth Efficient compounding engine Sustainable long-term growth New royalties have diversified and enhanced portfolio growth Robust transaction activity since the beginning of 2020 $5.9bn total announced value 21 unique therapies 6 areas of therapeutic focus 9 development-stage at acquisition 10 potential blockbusters (1) >$750m 2025e ACR "top-line" (2) contribution Contribution to 2020-2025e CAGR by product today (3) Other Xtandi Erleada Imbruvica Crysvita High- single digit CAGR Orladeyo Trodelvy Cabometyx Evrysdi Nurtec ODT(4) New royalties acquired since IPO Royalties acquired prior to IPO Cystic fibrosis franchise (4) Tremfya Add-on royalties acquired since IPO Capital deployment activity has far exceeded initial expectations in quality, scale and diversity of royalties acquired ROYALTY PHARMA IPO: initial public offering 1. Based on Visible Alpha consensus as of May 9, 2022. 2. Adjusted Cash Receipts estimates based on Visible Alpha consensus sales forecasts as of May 9, 2022; primarily includes contribution from approved therapies and other fixed payments. 3. Reflects split of royalties with growing Adjusted Cash Receipts from 2020 to 2025e. Excludes future royalty acquisitions and development-stage pipeline candidate gantenerumab for Alzheimer's disease. 4. CF includes incremental royalty investment in the CF franchise. Nurtec ODT also includes contribution from zavegepant. 87

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