Investor Presentaiton

Strong track record Unique model Large moat Significant opportunity Compounding growth We are consistently innovating new funding solutions 1990s • Achieved proof of concept • Funded with equity capital Focused on 3rd party royalties 2000s • Converted to ongoing business • Lowered cost of capital with leverage Expanded to M&A related royalties • 2010s-present Invested in development-stage and synthetic royalties Added supplemental funding Grew team and scaled business • Future Significantly scale business • Selectively add adjacencies ~$40m deployed Third-party royalties (approved) Finite life fund ROYALTY PHARMA ~$4bn deployed ~$20bn deployed Synthetic royalties / R&D funding Third-party (development-stage) M&A related Third-party royalties (approved) M&A related Third-party royalties (approved) Ongoing business Increased share of >$1 trillion market opportunity Public listing 12 12

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