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Investor Presentaiton

Acquire approved and development-stage royalties • Approved Products (2) Predictable and de-risked cash flows • Growth from increased penetration Additional upside from new indications/geographies Development-Stage Products Broad landscape of opportunities . Require strong proof-of- concept data Significant upside potential ROYALTY PHARMA Status at Acquisition (1) Total - ~$24bn Development- Stage Products ~$11bn, 45% Approved Products ~$13bn, 55% Current Status(1) Development-Stage Products $3bn, 13% Not Approved $1bn, 4% (2) $6.7bn or 63% of Development-Stage Product Acquisitions Are Now Approved Approved Products $20bn, 83% 1. Reflects cash deployed for royalty acquisitions from 2012 through Q4 2022. Also include the January 2023 lonis transaction. 2. Not approved includes investments in gantenerumab, otilimab, BCX9930, vosaroxin, palbociclib and Merck KgaA's anti-IL17 nanobody M1095. Approved Since Acquisition Bosulif Evrysdi Prisdiplam 60mg pride forel imbruvică NurtecMODT TAZVERIK Tecfidera. trikafta TRODELVY™ 107
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