Slide 1: Q2 2026 Financial Results
Q2 2026 Financial Results August 5, 2026
Slide 2: Forward Looking Statements
2 Forward Looking Statements This presentation has been prepared by Royalty Pharma plc (the “Company”), is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. The information set forth herein does not purport to be complete o
Slide 3: Agenda
3 Agenda Key highlights Pablo Legorreta Chief Executive Officer, Chairman of the Board Portfolio update Marshall Urist EVP, Head of Research & Investments Development-stage pipeline Chris Hite Chairman, Partnering & Investments Financial results Terrance Coyne EVP, Chief Financial Officer Conclusion
Slide 4: Key highlights
Key highlights Pablo Legorreta Chief Executive Officer, Chairman of the Board
Slide 5: Strong business momentum in Q2 2026
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 5 Strong business momentum in Q2 2026 1 2 3 4 Financial Capital allocation Portfolio Financial guidance Royalty Receipts grew Capital Deployment of Revolution Medicines’ NDA FY 2026 Portfolio Receipts +14% and Po
Slide 6: Delivering double-digit growth on average since IPO
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 6 Delivering double-digit growth on average since IPO Royalty Receipts (year/year growth; $ in millions) +8% +15% +12% +8% +13% +13% +13% +17% +13% +12% +11% $887 +14% +15% +12% $856 +14% $788 +11% $811 $768 +9%
Slide 7: Ahead of the curve in identifying exciting innovators
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 7 Ahead of the curve in identifying exciting innovators Select biotech companies acquired by large biopharma after Royalty Pharma funding Nurtec ODT, Therapy Jideytro, neladalkib ecopipam Cobenfy Trodelvy Zavzpre
Slide 8: Portfolio update
Portfolio update Marshall Urist, MD, PhD Executive Vice President Head of Research & Investments
Slide 9: Acquired royalty on AstraZeneca's cliramitug for ATTR-CM
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 9 Acquired royalty on AstraZeneca’s cliramitug for ATTR-CM Acquired royalty on AstraZeneca’s cliramitug from Neurimmune ATTR-CM market sales by product(6) ~70% Transaction terms CAGR Up to $425m, including $125m
Slide 10: Significant therapeutic area expertise built over decades
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 10 Significant therapeutic area expertise built over decades Category 2000-2009 2010-2019 2020-2026 Announced value Vyndamax Amvuttra TTR amyloidosis Onpattro cliramitug Attruby ~$0.7bn Xtandi Erleada 2 Prostate
Slide 11: Development-stage pipeline
Development-stage pipeline Chris Hite Chairman Partnering & Investments
Slide 12: Development-stage pipeline: strong, consistent growth
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 12 Development-stage pipeline: strong, consistent growth Pipeline evolution since IPO Peak royalty potential from late-stage pipeline (by number of therapies) ($ in billions) 0 >6x 0 >30x ~$2.0(4) 19 14 12 >$1.2(
Slide 13: Positive developments across royalty portfolio in 2026
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 13 Positive developments across royalty portfolio in 2026 Key clinical events in 2026 Key regulatory events in 2026 Therapy Indication Event Therapy Indication Event obexelimab IgG4-RD Phase 3 results(1) Avlayah
Slide 14: Multiple pivotal readouts during 2026-2027
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 14 Multiple pivotal readouts during 2026-2027 Important Phase 3 results to potentially unlock value for development-stage pipeline 2026 events daraxonrasib Myqorzo pelacarsen litifilimab 2L PDAC nHCM Cardiovascul
Slide 15: Well-balanced portfolio, anchored by approved products
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 15 Well-balanced portfolio, anchored by approved products Low-risk portfolio driven by capital deployment in approved products and ~90% development-stage success rate(1) Breakdown of total Invested Capital at Wor
Slide 16: Financial results
Financial results Terrance Coyne Executive Vice President Chief Financial Officer
Slide 17: Efficient model generates substantial cash flow to reinvest
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 17 Efficient model generates substantial cash flow to reinvest % Portfolio in millions Q2 2026 Receipts Comments Royalty Receipts(1) $768 +14% YoY Recurring cash inflows of our royalty portfolio Milestones & othe
Slide 18: Portfolio Receipts growth reflects strength of portfolio
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 18 Portfolio Receipts growth reflects strength of portfolio Q2 2026 Portfolio Receipts growth ($ in millions) 0 +6% 0 +14% $122 $768 $5 $773 $727 $56 $672 ($26) Drivers: Headwinds: + Tremfya - Promacta + Voranigo
Slide 19: Portfolio continues to generate attractive returns
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 19 Portfolio continues to generate attractive returns Remarkably stable returns since IPO with conservative leverage enhancing returns to shareholders 2019-2025 Q2 2026 LTM Comments (average) Return on • ROIC and
Slide 20: Maintaining financial flexibility while returning capital
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 20 Maintaining financial flexibility while returning capital S&P rating upgrade affirms strong financial position Significant financial capacity to execute strategy Balanced capital allocation (H1 2026) Cash & ca
Slide 21: Full year 2026 guidance
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 21 Full year 2026 guidance(1,2) August 5, 2026 May 6, 2026 Comments • Strong portfolio performance Portfolio Receipts $3,400m - $3,500m $3,325m - $3,450m • Milestones and other contractual receipts expected to ex
Slide 22: Conclusion
Conclusion Pablo Legorreta Chief Executive Officer, Chairman of the Board
Slide 23: Powerful business positioned to drive strong value creation
Key highlights Portfolio update Development-stage pipeline Financial results Conclusion 23 Powerful business positioned to drive strong value creation Leader in biopharma royalty funding Expanding market Unique platform Robust growth Attractive returns Strong secular trend of Best-in-class platform
Slide 24: Footnotes
24 Footnotes 1) To aid in comparability, growth in 2020 is calculated based on pro forma 2019 results, which adjusts certain cash flow line items as if Royalty Pharma’s Reorganization Transactions (as described in the Company’s final prospectus filed with the SEC on June 17, 2020 (“Prospectus”)) and
Slide 25: Appendix
Appendix
Slide 26: Exciting pipeline of large potential royalties to power growth beyond 2030
26 Exciting pipeline of large potential royalties to power growth beyond 2030 All late-stage development assets have first-in-class or best-in-class potential Potential peak sales Expected launch year(1) Therapy Lead indication Potential peak royalties (non risk adjusted)(2) TEV-’749 schizophrenia >
Slide 27: 2026 and 2027 clinical and regulatory events
27 2026 and 2027 clinical and regulatory events Clinical Regulatory 2026 2026 obexelimab litifilimab daraxonrasib Avlayah Jideytro obexelimab Phase 3 results(1) Phase 2 results(2) Phase 3 results(3) FDA approval(15) FDA approval(16) FDA filing(17) (IgG4-RD) (CLE) (2L metastatic PDAC) (Hunter syndrom
Slide 28: Development-stage pipeline: potential therapies
28 Development-stage pipeline: 19 potential therapies Initial and additional indications for development-stage therapies Phase 2 Phase 3 Registration CK-586 tulmimetostat (CPI-0209) omecamtiv mecarbil pelacarsen olpasiran TEV-’749 Heart failure Blood cancer, solid tumors Heart failure CV disease (se
Slide 29: Approved royalty portfolio: significant label expansion opportunities
29 Approved royalty portfolio: significant label expansion opportunities Additional indications for approved products Phase 2 Phase 3 Registration Additional indication Trodelvy (+ combinations) Ziihera Trodelvy Trodelvy (+ pembrolizumab) Cobenfy Ziihera (+ chemo, tislelizumab) 1L mUC Early breast c
Slide 30: GAAP to non-GAAP reconciliation
30 GAAP to non-GAAP reconciliation Adjusted EBITDA and ROIC Adjusted EBITDA 2019 2022 2023 Q2 2026 $ in millions (PF)(1) 2020 2021 (PF)(2) (PF)(2) 2024 2025 LTM Net cash provided by operating activities $1,742 $2,035 $2,018 $2,144 $2,988 $2,769 $2,490 $2,976 (GAAP) Adjustments: Proceeds from availab
Slide 31: GAAP to non-GAAP reconciliation
31 GAAP to non-GAAP reconciliation Portfolio Cash Flow and ROIE Portfolio Cash Flow 2019 2022 2023 Q2 2026 $ in millions (PF)(1) 2020 2021 (PF)(2) (PF)(2) 2024 2025 LTM Net cash provided by operating activities (GAAP) $1,742 $2,035 $2,018 $2,144 $2,988 $2,769 $2,490 $2,976 Adjustments: Proceeds from
Slide 32: Capital Deployment summary
32 Capital Deployment summary 2019 Q2 2026 $ in millions (PF)(1) 2020 2021 2022 2023 2024 2025 LTM Acquisitions of financial royalty assets ($1,721) ($2,182) ($2,192) ($1,742) ($2,116) ($2,506) ($1,698) ($2,399) Development-stage funding payments ($83) ($26) ($200) ($177) ($52) ($2) ($452) ($224) Pu
Slide 33: Invested Capital at Work and Invested Equity at Work summary
33 Invested Capital at Work and Invested Equity at Work summary 2019 Q2 2026 $ in millions (PF) 2020 2021 2022 2023 2024 2025 LTM Beginning Invested Capital at Work $10,312 $10,424 $12,504 $14,837 $16,535 $18,496 $20,848 $21,225 Capital Deployment(1) $1,818 $2,240 $2,508 $2,428 $2,192 $2,761 $2,596