Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 99

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 99
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 other things, to accrue interest income based upon a “comparable yield,” regardless of such U.S. Holder’s method of accounting, at a rate higher than the stated interest rate on the notes and would also be required to treat as taxable ordinary income, rather than capital gain, any gain on a sale, exchange or redemption of a note and the entire amount of realized gain upon a conversion of a note (including all gain upon conversion, even if the U.S. Holder receives solely ADSs). Our determination that the notes are not contingent payment debt instruments is binding on a U.S. Holder unless the U.S. Holder discloses a contrary position to the IRS in the manner required by applicable U.S. Treasury regulations. The remainder of this discussion assumes the notes will not be considered contingent payment debt instruments and that no additional payments will be made. You are urged to consult your tax advisor regarding the potential application to the notes of the contingent payment debt instrument rules and the consequences thereof. Payment of Stated Interest The notes were originally issued with less than a de minimisamount of original issue discount for U.S. federal income tax purposes. Stated interest on a note (including any amounts in respect of non-U.S. taxes withheld and any additional amounts paid in respect thereof) will be taxable to a U.S. Holder as ordinary income at the time it is paid or accrued in accordance with the U.S. Holder’s method of accounting for tax purposes. Interest income on a note generally will constitute foreign-source income and generally will constitute “passive category income” for foreign tax credit limitation purposes. Subject to certain conditions and limitations, any non-U.S. withholding taxes on interest withheld at a rate not in excess of an applicable treaty rate may be treated as foreign taxes eligible for credit

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(or deduction in lieu of a credit) against a U.S. Holder’s U.S. federal income tax liability. The determination of foreign tax credits involves the application of complex rules that depend on a U.S. Holder’s particular circumstances. You should consult your tax advisor regarding the creditability or deductibility of any non-U.S. tax withheld.

#### Market Discount
A U.S. Holder that purchases a Note from the selling securityholders pursuant to this prospectus supplement for an amount that is less than its stated principal amount may be treated as acquiring such Note with “market discount.” Subject to a de minimis exception, the “market discount” on a Note will equal the amount, if any, by which its