Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 8

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 8
---
 Limitations,” upon conversion, we will deliver for each $1,000 principal amount of notes converted a number of ADSs equal to the conversion rate (together with a cash payment in lieu of delivering any fractional ADS) on the third business day following the relevant conversion date. See the section titled “Description of Notes—Conversion Rights—Settlement upon Conversion.”

In addition, following certain corporate events that occur prior to the maturity date or if we deliver a notice of optional redemption or a notice of tax redemption, we will, in certain circumstances, increase the conversion rate for a holder who elects to convert its notes in connection with such a corporate event or convert its notes called (or deemed called) for redemption in connection with such notice of optional redemption or notice of tax redemption, as the case may be, as described in the section titled “Description of Notes—Conversion Rights—Increase in Conversion Rate upon Conversion upon a Make-Whole Fundamental Change, Notice of Optional Redemption or Notice of Tax Redemption.”

Holders of the notes will not receive any additional cash payment or additional ADSs representing accrued and unpaid interest, if any, upon conversion of a note, except in limited circumstances. Instead, interest will be deemed to be cancelled, extinguished and forfeited by the delivery of ADSs, together with a cash payment for any fractional ADS, upon conversion of a note.

**Beneficial Ownership Limitation on Delivery of ADSs upon Conversion**

Notwithstanding anything herein to the contrary, a holder of the notes will not have the right to convert all or any portion of their notes, and such holder will not be entitled to receive any ADSs otherwise deliverable upon conversion of the notes to

<div align='center'>S-4</div>

#### TABLE OF CONTENTS
the extent, but only to the extent, that such receipt would cause such holder to become, directly or indirectly, a “beneficial owner” of ordinary shares that such ADSs represent in excess of the beneficial ownership limits applicable to such holder at such time, as described under “Description of Notes—Conversion Rights—Beneficial Ownership Limitation on Delivery of ADSs upon Conversion.”

#### Optional Redemption
We may not redeem the notes prior to February 5, 2027, except in the event of certain tax law changes as described below under “Description of Notes—Tax Redemption.” We may redeem for cash all or any portion of the notes (subject to the partial redemption limitation described below), at our option, on or after February 5, 2027 if the last