# EDGAR Filing Document

**Accession Number:** 0001809196
**File Stem:** 0000950103-23-004410
**Filing Date:** 2023-3
**Character Count:** 85262
**Document Hash:** 2f779862e8224bcb03d9b3ea0c93fd0c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-23-004410.hdr.sgml**: 20230321

**ACCESSION NUMBER**: 0000950103-23-004410

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 64

**CONFORMED PERIOD OF REPORT**: 20230322

**FILED AS OF DATE**: 20230321

**DATE AS OF CHANGE**: 20230321

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Immatics N.V.
- **CENTRAL INDEX KEY:** 0001809196
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** P7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39363
- **FILM NUMBER:** 23747768

**BUSINESS ADDRESS:**
- **STREET 1:** PAUL EHRLICH-STRASSE 15
- **CITY:** TUBINGEN
- **STATE:** 2M
- **ZIP:** 72076
- **BUSINESS PHONE:** 49 7071 5397 700

**MAIL ADDRESS:**
- **STREET 1:** PAUL EHRLICH-STRASSE 15
- **CITY:** TUBINGEN
- **STATE:** 2M
- **ZIP:** 72076

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Immatics B.V.
- **DATE OF NAME CHANGE:** 20200413

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934**

March 22, 2023

------

**Commission File Number: 001-39363**

**IMMATICS N.V.**

**Paul-Ehrlich-Straße 15**

**72076 Tübingen, Federal Republic of Germany**

**(Address of principal executive office)**

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

**INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K**

On March 22, 2023, Immatics N.V. (the "Company") issued a press release announcing its full year 2022 financial results and providing certain corporate updates. A copy of the press release is attached hereto as Exhibit 99.1. In addition, the Company made available an updated investor presentation. A copy of the presentation is attached hereto as Exhibit 99.2. The fact that the presentation is being made available and furnished herewith is not an admission as to the materiality of any information contained in the presentation. The information contained in the presentation is being provided as of March 22, 2023 and the Company does not undertake any obligation to update the presentation in the future or to update forward-looking statements to reflect subsequent actual results.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | Press release dated March 22, 2023 |
| 99.2 | Corporate presentation dated March 2023 |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **IMMATICS N.V.** | **IMMATICS N.V.** |
| Date: March 22, 2023 |  |  |
|  | By: | /s/ Harpreet Singh |
|  | Name: | Harpreet Singh |
|  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](image_001.gif)

**Immatics Announces Full Year 2022 Financial Results<br> and Corporate Update** **<br>** 

<br> · ACTengine<sup>®
</sup>IMA203 TCR-T monotherapy against PRAME showed 50% confirmed objective response rate
 (cORR) at or above target dose in different solid cancers in an interim clinical update in
 Phase 1a and Phase 1b in October 2022

· ACTengine<sup>®
</sup>IMA203 TCR-T clinical data update on all three ongoing IMA203 Phase 1b cohorts (Cohort
 A: 1<sup>st</sup>-gen monotherapy, Cohort B: combination with a checkpoint inhibitor, Cohort
 C: 2<sup>nd</sup>-gen monotherapy), and identification of most promising cohort to advance
 towards pivotal trials is planned for 2H 2023; prioritization of patient treatment with 1<sup>st
</sup>and 2<sup>nd</sup>-generation monotherapy

· Expansion
 of cell therapy manufacturing capabilities with construction of an in-house GMP manufacturing
 facility for registration-directed and commercial production of ACTengine<sup>®</sup>
 TCR-T products expected to be operational in 2024

· Phase
 1 clinical trial for first TCR Bispecific candidate, TCER<sup>®</sup> IMA401 targeting
 MAGEA4/8 developed in collaboration with Bristol Myers Squibb commenced in May 2022; TCER<sup>®
</sup>IMA402 targeting PRAME on track for CTA <sup>1
</sup> submission
 in 2Q 2023

· Strategic
 collaboration with Bristol Myers Squibb has been expanded in June 2022 to develop allogeneic
 and autologous cell therapy programs; Immatics received $80 million upfront payment and is
 eligible for milestone payments as well as tiered royalties

· $110
 million underwritten offering successfully completed in October 2022

· Cash
 and cash equivalents as well as other financial assets amount to $386.3 million <sup>2
</sup> (€362.2
 million) as of December 31, 2022, and projects cash runway into 2025

**Tuebingen, Germany and Houston, TX, March 22, 2023** – <u>Immatics N.V.</u> (NASDAQ: IMTX; "Immatics"), a clinical-stage biopharmaceutical company active in the discovery and development of T cell-redirecting cancer immunotherapies, today provided a business update and reported financial results for the quarter and full year ended December 31, 2022.

Harpreet Singh, Ph.D., CEO and Co-Founder of Immatics commented, "Our ACTengine<sup>®</sup> IMA203 clinical trial has gained significant traction over the past year with promising data for our

<sup>1</sup> Clinical Trial Application (CTA) is the European equivalent of an Investigational New Drug (IND) application

<sup>2</sup> All amounts translated using the exchange rate published by the European Central Bank in effect as of December 31, 2022 (1 EUR = 1, 0666 USD).

Immatics Press Release March 22, 2023 1 \| 13

![](image_001.gif)

monotherapy candidate targeting PRAME. As we continue demonstrating the potential of our first- and second-generation product candidates in patients, we have commenced establishing our in-house GMP cell therapy manufacturing facility in Houston, TX. This positions us to scale our cell therapies for registration-directed trials and commercial supply. In addition, we have significantly advanced our clinical TCR Bispecifics pipeline with one TCER<sup>®</sup> program targeting MAGEA4/8 now in the clinic and a second TCER<sup>®</sup> program targeting PRAME commencing clinical studies this year. We demonstrated our ability to execute and deliver on our goals in 2022 and look forward to continuing on this path in 2023."

**Full Year 2022 and Subsequent Company Progress**

***<u>Adoptive Cell Therapy Programs</u>***

· **ACTengine<sup>®</sup>IMA203 (PRAME)** – Immatics is investigating IMA203 TCR-T in a Phase 1b trial
 including three ongoing dose expansion cohorts. Immatics' focus for 2023 is to advance
 its monotherapy product candidates, 1<sup>st</sup>-generation IMA203 TCR-T (Cohort A) and
 2<sup>nd</sup>-generation IMA203CD8 TCR-T (Cohort C) in the last-line therapy setting. Data
 generated throughout 2023 with longer follow-up to assess durability of response is intended
 to identify the most promising cohort to advance towards pivotal trials and potential commercialization.
 The clinical data update on all three cohorts is planned for 2H 2023.

**IMA203 TCR-T monotherapy (Cohort A)**:

&nbsp;&nbsp;&nbsp;&nbsp;o In
 October 2022, Immatics provided an <u>interim update</u> on the ongoing IMA203 TCR-T monotherapy trial covering data from 27 patients in the completed
 Phase 1a dose escalation and the first 5 patients in the Phase 1b dose expansion trial.

&nbsp;&nbsp;&nbsp;&nbsp;o Treatment
 with IMA203 continued to show a manageable tolerability profile in a heavily pre-treated
 patient population.

&nbsp;&nbsp;&nbsp;&nbsp;o A
 confirmed objective response rate (cORR) of 50% (6/12) was observed at target dose or above
 across Phase 1a and Phase 1b.

&nbsp;&nbsp;&nbsp;&nbsp;o Confirmed
 responses were observed in 4/5 (80%) patients in the Phase 1b trial alone with early signs
 of prolonged durability at 12 weeks of follow-up with all responses ongoing at data cut-off.

&nbsp;&nbsp;&nbsp;&nbsp;o Manufacturing
 enhancements implemented in Phase 1b (including monocyte depletion) resulted in higher infused
 T cell doses and significantly higher T cell peak expansion and persistence.

&nbsp;&nbsp;&nbsp;&nbsp;o Confirmed
 responses were observed across different solid tumor types: cutaneous melanoma, ovarian cancer,
 head and neck cancer, uveal melanoma, and synovial sarcoma.

Immatics Press Release March 22, 2023 2 \| 13

![](image_001.gif)

**IMA203 TCR-T in combination with nivolumab (Cohort B)**:

&nbsp;&nbsp;&nbsp;&nbsp;o In
 May 2022, the <u>first patient was treated</u> with IMA203
 in combination with the PD-1 immune checkpoint inhibitor nivolumab at the provisional recommended
 Phase 2 dose (RP2D).

&nbsp;&nbsp;&nbsp;&nbsp;o Immatics
 is currently prioritizing patient treatment with IMA203 and IMA203CD8 TCR-T monotherapy in
 a last-line therapy setting but is considering further investigation of a combination with
 nivolumab as a front-line therapy.

**IMA203CD8 2<sup>nd</sup>-generation TCR-T monotherapy (Cohort C):** 

&nbsp;&nbsp;&nbsp;&nbsp;o IMA203CD8
 is Immatics' 2<sup>nd</sup>-generation monotherapy product candidate directed against
 PRAME in which IMA203 engineered T cells are co-transduced with a CD8αβ co-receptor
 that engages functional CD4 and CD8 T cells.

&nbsp;&nbsp;&nbsp;&nbsp;o The <u>first patient was treated</u> in August 2022. As IMA203CD8
 is a novel product candidate under a new IND amendment, a staggered enrollment was implemented;
 the treatment of three patients at dose level 3 (DL3) has been completed. Patients are currently
 being treated at DL4a (up to 0.8x10<sup>9</sup> TCR-T cells/m<sup>2</sup> body surface area).

· **Cell Therapy Manufacturing** – Immatics is further enhancing its cell therapy manufacturing
 process and capabilities.

&nbsp;&nbsp;&nbsp;&nbsp;o Immatics
 proprietary manufacturing process is designed to produce T cells within one week, followed
 by a recently implemented one-week quality control release testing (previously two weeks).
 This allows Immatics to shorten the turnaround time and to provide the cell therapy product
 candidate to patients faster.

&nbsp;&nbsp;&nbsp;&nbsp;o Immatics
 is building a state-of-the-art 100,000 square foot research and commercial GMP manufacturing
 facility in the metropolitan area of Houston, Texas. The facility is intended to manufacture
 Immatics' ACTengine<sup>®</sup> IMA203 products as well as other future autologous
 and allogeneic cell therapy product candidates for early-stage and registration-directed
 clinical trials as well as for initial commercial supply. The facility is designed for flexibility
 and can be expanded in a modular fashion. The GMP manufacturing facility is expected to be
 operational in 2024.

· **ACTengine<sup>®</sup>IMA201 (MAGEA4/8) –** The Phase 1a dose escalation cohort at target dose is
 ongoing. Immatics plans to discontinue this program after treatment of the remaining patients
 already enrolled in the clinical trial in order to focus on its TCR Bispecific program TCER<sup>®
</sup>IMA401 addressing the identical target peptide derived from MAGEA4/8 as IMA201.<br>

· **ACTengine<sup>®</sup>IMA204 (COL6A3 exon 6)** – Immatics and the University of Pennsylvania co-authored <u>a research paper published</u> in the peer-reviewed journal,
 Science Translational Medicine highlighting the identification of a novel proprietary HLA-A\*02:01-presented
 target,

Immatics Press Release March 22, 2023 3 \| 13

![](image_001.gif)

collagen type VI alpha-3 (COL6A3) using Immatics' proprietary discovery platforms, XPRESIDENT<sup>®</sup> and XCEPTOR<sup>®</sup>. COL6A3 is expressed at high target density across multiple solid cancer indications and specific to the tumor stroma. Targeting tumor stroma provides an innovative therapeutic opportunity to disrupt the tumor microenvironment. The COL6A3-directed TCR-T candidate ACTengine<sup>®</sup> IMA204, developed by Immatics, was able to eliminate tumor cells at physiological target levels in *in vitro* studies and *in vivo* mouse models. The company has delayed the IND submission for IMA204 to consolidate its clinical resources on accelerating the clinical development of its PRAME-directed product candidates.

· **ACTallo<sup>®</sup>pipeline** – In June
 2022, Immatics entered into two strategic collaborations with the goal of developing transformative
 next-generation allogeneic gamma delta TCR-T/CAR-T programs with enhanced persistence, safety
 and potency, by combining Immatics' proprietary ACTallo<sup>®</sup> platform with
 Bristol Myers Squibb's next-generation technologies and Editas Medicine's CRISPR
 gene editing technology.

&nbsp;&nbsp;&nbsp;&nbsp;o Immatics <u>entered into a new multi-program collaboration</u> with
 Bristol Myers Squibb to develop allogeneic TCR-T/CAR-T programs using Immatics' proprietary
 ACTallo<sup>®</sup> platform and Bristol Myers Squibb's technologies. Immatics
 received $60 million upfront payment and is eligible for up to $700 million per program in
 milestone payments as well as tiered royalties. Immatics may also develop its own ACTallo<sup>®</sup>-based
 programs outside of the collaboration.

&nbsp;&nbsp;&nbsp;&nbsp;o The <u>strategic research collaboration and licensing agreement</u> with Editas Medicine, Inc., combines Immatics' ACTallo<sup>®</sup> platform with
 Editas Medicine's CRISPR gene editing technology.

**Autologous TCR-T pipeline**

· Immatics
 and Bristol Myers Squibb expanded their <u>autologous T cell receptor-based therapy (TCR-T) collaboration</u> signed in 2019 by including one additional TCR-T
 target discovered by Immatics. Immatics received an
 upfront payment of $20 million and is eligible for milestone payments as well as royalties.

· In
 October 2022, GSK provided Immatics with notice of its decision to terminate their collaboration.
 Initially announced on February 20, 2020, the terms of the agreement included a €45
 million (~$50 million) upfront payment to Immatics and the potential for additional milestone
 and royalty payments in return for access to two of Immatics' TCR-T programs. As communicated
 to Immatics, GSK's decision was made unrelated
 to the programs and the progress achieved in the collaboration to date. The termination was
 effective on December 26, 2022. GSK transferred the rights for both TCR-T programs back to
 Immatics.

Immatics Press Release March 22, 2023 4 \| 13

![](image_001.gif)

***<u>TCR Bispecifics Programs</u>***

Immatics' TCER<sup>®</sup> candidates are next-generation, half-life extended TCR Bispecific molecules designed to maximize efficacy while minimizing toxicities in patients through its proprietary format using a low-affinity T cell recruiter and a high-affinity TCR domain.

· **TCER<sup>®</sup>IMA401 (MAGEA4/8)** – Immatics <u>initiated a Phase 1 trial</u> in May, to evaluate safety, tolerability and initial anti-tumor activity
 of its T cell engaging receptor (TCER<sup>®</sup>) IMA401 for patients with recurrent
 and/or refractory solid tumors. IMA401 is being developed in collaboration with Bristol Myers
 Squibb.

· **TCER<sup>®</sup>IMA402 (PRAME)** – A comprehensive preclinical data set was presented at the <u>European Society for Medical Oncology (ESMO)</u> congress
 in September 2022. The TCER<sup>®</sup> candidate IMA402 showed potent and selective
 activity against PRAME-positive tumor cell lines *in vitro*, high anti-tumor activity
 in *in vivo* mouse models, low target-independent T cell engager-associated cytokine
 release and favorable pharmacodynamic characteristics. The submission of the CTA<sup>1</sup>
 application for the Phase 1/2 trial is on track for 2Q 2023. Immatics plans to start the
 trial in 2H 2023 with a flexible dose escalation scheme for accelerated clinical development.

· **TCER<sup>®</sup>IMA403 and TCER<sup>®</sup> IMA40x** – Immatics continues to develop several
 innovative preclinical TCER<sup>®</sup> product candidates against so far undisclosed
 targets for their proprietary and/or partnered pipeline. IMA403 is in advanced preclinical
 development with proof-of-concept studies ongoing. Additionally, TCER<sup>®</sup> engineering
 and preclinical testing is ongoing for further TCER<sup>®</sup> candidates, IMA40x, targeting
 peptides presented by HLA-A\*02:01 and other HLA-types.

**Corporate Development**

· Immatics <u>successfully completed an underwritten public offering</u> in October 2022, raising approximately $110 million before deducting underwriting discount
 and offering expenses. The offering included participation from investors including Armistice
 Capital Master Fund Ltd., Dellora Investments, EcoR1 Capital, Nantahala Capital, Perceptive
 Advisors, Rock Springs Capital, RTW Investments, LP, Samsara BioCapital, SilverArc Capital,
 Sofinnova Investments, Wellington Management, 683 Capital and other specialist biotech investors.

· Pursuant
 to Dievini Hopp Biotech Holding's rights under the business combination in 2020, dievini
 has designated Mathias Hothum, Ph.D., for election as a director at the 2023 annual general
 meeting of the shareholders in June 2023, as successor to Friedrich von Bohlen und Halbach,
 Ph.D. Dr. Hothum has been the Managing Director of dievini Hopp Biotech Holding, which manages
 the life science activities and investments of Dietmar Hopp and his family. He is also the
 Managing Director of several investment and consulting companies. Dr. Hothum holds a Ph.D.
 in Pharmaceutical Economics and Medical Sociology from the University of Magdeburg, Germany.

Immatics Press Release March 22, 2023 5 \| 13

![](image_001.gif)

**Full Year 2022 Financial Results**

*Cash Position:* Cash and cash equivalents as well as other financial assets total €362.2 million ($386.3 million<sup>2</sup>) as of December 31, 2022 compared to €145.1 million ($154.8 million<sup>2</sup>) as of December 31, 2021. The increase is mainly due to our public offering and upfront payments for collaborations, partly offset by our ongoing research and development activities. The Company projects a cash runway into 2025.

*Revenue:* Total revenue, consisting of revenue from collaboration agreements, was €172.8 million ($184.3 million<sup>2</sup>) for the year ended December 31, 2022, compared to €34.8 million ($37.1 million<sup>2</sup>) for the year ended December 31, 2021.

*Research and Development Expenses:* R&D expenses were €106.8 million ($113.9 million<sup>2</sup>) for the year ended December 31, 2022, compared to €87.6 million ($93.4 million<sup>2</sup>) for the year ended December 31, 2021. The increase mainly resulted from higher costs associated with the advancement of the clinical and pre-IND pipeline of ACTengine<sup>®</sup> and TCER<sup>®</sup> candidates.

*General and Administrative Expenses:* G&A expenses were €36.1 million ($38.5 million<sup>2</sup>) for the year ended December 31, 2022, compared to €33.8 million ($36.1 million<sup>2</sup>) for the year ended December 31, 2021.

*Net Profit and Loss:* Net profit was €37.5 million ($40.0 million<sup>2</sup>) for the year ended December 31, 2022, compared to a net loss of €93.3 million ($99.5 million<sup>2</sup>) for the year ended December 31, 2021. The improvement resulted mainly from the one-time license fee income in connection with the IMA401 collaboration with Bristol Myers Squibb, as well as the recognition of remaining deferred revenue in connection with the termination of the GSK collaboration.

Full financial statements can be found in the Annual Report on Form 20-F filed with the Securities and Exchange Commission (SEC) and published on the SEC website under <u>www.sec.gov</u>.

<sup>2</sup> All amounts translated using the exchange rate published by the European Central Bank in effect as of December 31, 2022 (1 EUR = 1, 0666 USD).

*Upcoming Investor Conferences*

Kempen Life Sciences Conference, Amsterdam – April 25-26, 2023

Bank of America Health Care Conference, Las Vegas (NV) – May 9-11, 2023

Jefferies Global Healthcare Conference, New York (NY) – June 7-9, 2023

Immatics Press Release March 22, 2023 6 \| 13

![](image_001.gif)

To see the full list of events and presentations, visit <u>www.investors.immatics.com/events-presentations</u>.

**About Immatics**

Immatics combines the discovery of true targets for cancer immunotherapies with the development of the right T cell receptors with the goal of enabling a robust and specific T cell response against these targets. This deep know-how is the foundation for our pipeline of Adoptive Cell Therapies and TCR Bispecifics as well as our partnerships with global leaders in the pharmaceutical industry. We are committed to delivering the power of T cells and to unlocking new avenues for patients in their fight against cancer.

Immatics intends to use its website <u>www.immatics.com</u> as a means of disclosing material non-public information. For regular updates you can also follow us on <u>Twitter</u>, <u>Instagram</u> and <u>LinkedIn</u><u>.</u>

**Forward-Looking Statements**

Certain statements in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or Immatics' future financial or operating performance. For example, statements concerning the timing of product candidates and Immatics' focus on partnerships to advance its strategy are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Immatics and its management, are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management's control including general economic conditions and other risks, uncertainties and factors set forth in filings with the SEC. Nothing in this presentation should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Immatics undertakes no duty to update these forward-looking statements.

Immatics Press Release March 22, 2023 7 \| 13

![](image_001.gif)

**For more information, please contact:**

---

| |
|:---|
| **Media and Investor Relations Contact** |
| Jacob Verghese or Eva Mulder |
| Trophic Communications |
| Phone: +49 151 7441 6179 |
| <u>immatics@trophic.eu</u> |

---

---

| | |
|:---|:---|
| **Immatics N.V.** |  |
| Anja Heuer | Jordan Silverstein |
| Senior Director Corporate Communications | Head of Strategy |
| Phone: +49 89 540415-606 | Phone: +1 281 810 7545 |
| <u>media@immatics.com</u> | <u>InvestorRelations@immatics.com</u> |

---

Immatics Press Release March 22, 2023 8 \| 13

![](image_001.gif)

**Immatics N.V. and subsidiaries**

**Condensed Consolidated Statement of Profit/(Loss) of Immatics N.V.**

---

| | | | |
|:---|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2020** |
|  | **(Euros in thousands, except share and per<br> share data)** | **(Euros in thousands, except share and per<br> share data)** | **(Euros in thousands, except share and per<br> share data)** |
| Revenue from collaboration agreements | 172831 | 34763 | 31253 |
| Research and development expenses | (106779) | (87574) | (67085) |
| General and administrative expenses | (36124) | (33808) | (34186) |
| Other income | 26 | 325 | 303 |
| **Operating result** | **29954** | **(86294)** | **(69715)** |
| Change in fair value of liabilities for warrants | 10945 | (10990) | 17775 |
| Share listing expense |  |  | (152787) |
| Other financial income | 9416 | 5675 | 2949 |
| Other financial expenses | (8279) | (1726) | (10063) |
| **Financial result** | **12082** | **(7041)** | **(142126)** |
| **Profit/(loss) before taxes** | **42036** | **(93335)** | **(211841)** |
| Taxes on income | (4552) |  |  |
| **Net profit/(loss)** | 37514 | **(93335)** | **(211841)** |
|  *Attributable to:* |  |  |  |
|  *Equity holders of the parent* | *37514* | *(93335)* | *(211284)* |
|  *Non-controlling interest* |  | *—* | *(557)* |
| **Net profit/(loss) per share:** |  |  |  |
| Basic | 0.56 | (1.48) | (4.40) |
| Diluted | 0.55 | (1.48) | (4.40) |

---

Immatics Press Release March 22, 2023 9 \| 13

![](image_001.gif)

**Immatics N.V. and subsidiaries**

**Condensed Consolidated Statement of Comprehensive Income/(Loss) of Immatics N.V.**

---

| | | | |
|:---|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021**  | **2020** |
|  | **(Euros in thousands)** | **(Euros in thousands)** | **(Euros in thousands)** |
| **Net profit/(loss)** | **37514** | **(93335)** | **(211841)** |
| **Other comprehensive income/(loss)** |  |  |  |
| Items that may be reclassified subsequently to profit or loss |  |  |  |
| Currency translation differences from foreign operations | 2464 | 3514 | (6689) |
| **Total comprehensive income/(loss) for the year** | **39978** | **(89821)** | **(218530)** |
|  *Attributable to:* |  |  |  |
|  *Equity holders of the parent* | *39978* | *(89821)* | *(217973)* |
|  *Non-controlling interest* | *—* | *—* | *(557)* |

---

Immatics Press Release March 22, 2023 10 \| 13

![](image_001.gif)

**Immatics N.V. and subsidiaries**

**Condensed Consolidated Statement of Financial Position of Immatics N.V.**

---

| | | |
|:---|:---|:---|
|  | **As of** | **As of** |
|  | **December 31, 2022** | **December 31, 2021** |
|  | **(Euros in thousands)** | **(Euros in thousands)** |
| **Assets** | | |
| **Current assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 148519 | 132994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other financial assets | 213686 | 12123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivables | 1111 | 682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 13838 | 6408 |
| **Total current assets** | **377154** | **152207** |
| **Non-current assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment | 13456 | 10506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets | 1632 | 1315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right-of-use assets | 13033 | 9982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets | 2545 | 636 |
| **Total non-current assets** | **30666** | **22439** |
| **Total assets** | **407820** | **174646** |
| **Liabilities and shareholders' equity** |  |  |
| **Current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payables | 13056 | 11624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 64957 | 50402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities for warrants | 16914 | 27859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | 2159 | 2711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 9366 | 2552 |
| **Total current liabilities** | 106242 | **95148** |
| **Non-current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 75759 | 48225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | 12403 | 7142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities | 42 | 68 |
| **Total non-current liabilities** | **88204** | **55435** |
| **Shareholders' equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share capital | 767 | 629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share premium | 714177 | 565192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (500299) | (537813) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other reserves | (1481) | (3945) |
| **Total shareholders' equity** | **213164** | **24063** |
| **Total liabilities and shareholders' equity** | **407820** | **174646** |

---

Immatics Press Release March 22, 2023 11 \| 13

![](image_001.gif)

**Immatics N.V. and subsidiaries**

**Condensed Consolidated Statement of Cash Flows of Immatics N.V.** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2020** |
|  | **(Euros in thousands)** | **(Euros in thousands)** | **(Euros in thousands)** |
| **Cash flows from operating activities** |  |  |  |
| Net profit/(loss) | 37514 | (93335) | (211841) |
| Taxes on income | 4522 |  |  |
| **Profit/(loss) before tax** | **42340** | **(93335)** | **(211841)** |
| **Adjustments for:** |  |  |  |
| Interest income | (2476) | (133) | (850) |
| Depreciation and amortization | 6967 | 5260 | 4424 |
| Interest expenses | 1038 | 566 | 289 |
| Share listing expense |  |  | 152787 |
| Equity settled share-based payment | 22570 | 26403 | 22908 |
| MD Anderson compensation expense |  |  | 45 |
| (Decrease) Increase in other liabilities resulting from share appreciation rights |  |  | (2036) |
| Payment related to share-based compensation awards previously classified as equity-settled |  |  | (4322) |
| Net foreign exchange differences and expected credit losses | 2953 | (2408) | 437 |
| Change in fair value of liabilities for warrants | (10945) | 10990 | (17775) |
| **Changes in:** |  |  |  |
| (Increase)/decrease in accounts receivables | (429) | 569 | (294) |
| (Increase) in other assets | (7872) | (483) | (1600) |
| Increase/(decrease) in deferred revenue, accounts payables and other liabilities | 45559 | (31784) | (23387) |
| Interest received | 1649 | 175 | 808 |
| Interest paid | (695) | (566) | (289) |
| Income tax paid | (224) |  |  |
| **Net cash provided by/(used in) operating activities** | **100131** | **(84746)** | **(80696)** |
| **Cash flows from investing activities** |  |  |  |
| Payments for property, plant and equipment | (5738) | (5106) | (7420) |
| Payments for investments classified in Other financial assets | (216323) | (11298) | (58087) |
| Proceeds from maturity of investments classified in Other financial assets | 12695 | 24448 | 49662 |
| Payments for intangible assets | (477) | (551) | (104) |
| Proceeds from disposal of property, plant and equipment | 52 |  |  |
| **Net cash (used in)/provided by investing activities** | **(209791)** | **7493** | **(15949)** |
| **Cash flows from financing activities** |  |  |  |
| Proceeds from issuance of shares to equity holders | 134484 | 94 | 217918 |
| Transaction costs deducted from equity | (7931) |  | (7939) |
| Repayment of lease liabilities | (2843) | (2707) | (2096) |
| **Net cash provided by/(used in) financing activities** | **123710** | **(2613)** | **207883** |
| **Net increase/(decrease) in cash and cash equivalents** | **14050** | **(79866)** | **111238** |
| **Cash and cash equivalents at beginning of the year** | **132994** | **207530** | **103353** |
| Effects of exchange rate changes on cash and cash equivalents and expected credit losses | 1475 | 5330 | (7061) |
| **Cash and cash equivalents at end of the year** | **148519** | **132994** | **207530** |

---

Immatics Press Release March 22, 2023 12 \| 13

![](image_001.gif)

**Immatics N.V. and subsidiaries**

**Condensed Consolidated Statement of Changes in Shareholders' equity (deficit) of Immatics N.V.**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(Euros in thousands)**  | **Share<br> capital** | **Share<br> premium** | **Accumulated<br> deficit**  | **Other<br> reserves** | **Total equity<br> (deficit)<br> attributable<br> to<br> shareholders<br> of the parent** | **Non-<br> controlling<br> interest** | **Total<br> share-<br> holders'<br> equity<br> (deficit)** |
| **Balance as of January 1, 2020** | **1164** | **190945** | **(233194)** | **(770)** | **(41855)** | **1020** | **(40835)** |
| Other comprehensive loss |  |  |  | (6689) | (6689) |  | (6689) |
| Net loss |  |  | (211284) |  | (211284) | (557) | (211841) |
| **Comprehensive loss for the year** | **—** | **—** | **(211284)** | **(6689)** | **(217973)** | **(557)** | **(218530)** |
| Reorganization | (833) | 833 |  |  |  |  |  |
| **Issue of share capital** |  |  |  |  |  |  |  |
| MD Anderson Share Exchange | 7 | 501 |  |  | 508 | (508) |  |
| PIPE Financing, net of transaction costs | 104 | 89973 |  |  | 90077 |  | 90077 |
| ARYA Merger, net of transaction <br> costs | 180 | 237864 |  |  | 238044 |  | 238044 |
| SAR conversion | 7 | (7) |  |  |  |  |  |
| **Total issuance of share capital** | **298** | **328331** | **—** | **—** | **328629** | **(508)** | **328121** |
| Equity-settled share-based compensation |  | 22908 |  |  | 22908 |  | 22908 |
| Payments related to share-based compensation awards previously classified as equity-settled |  | (4322) |  |  | (4322) |  | (4322) |
| MD Anderson milestone compensation expense |  |  |  |  |  | 45 | 45 |
| **Balance as of December 31, 2020** | **629** | **538695** | **(444478)** | **(7459)** | **87387** | **—** | **87387** |
| **Balance as of January 1, 2021** | **629** | **538695** | **(444478)** | **(7459)** | **87387** | **—** | **87387** |
| Other comprehensive income |  |  |  | 3514 | 3514 |  | 3514 |
| Net loss |  |  | (93335) |  | (93335) |  | (93335) |
| **Comprehensive loss for the year** | **—** | **—** | **(93335)** | **3514** | **(89821)** | **—** | **(89821)** |
| Equity-settled share-based compensation |  | 26403 |  |  | 26403 |  | 26403 |
| Share options exercised |  | 94 |  |  | 94 |  | 94 |
| **Balance as of December 31, 2021** | **629** | **565192** | **(537813)** | **(3945)** | **24063** | **—** | **24063** |
| **Balance as of January 1, 2022** | **629** | **565192** | **(537813)** | **(3945)** | **24063** | **—** | **24063** |
| Other comprehensive income |  |  |  | 2464 | 2464 |  | 2464 |
| Net profit |  |  | 37514 |  | 37514 |  | 37514 |
| **Comprehensive income for the year** | **—** | **—** | **37514** | **2464** | **39978** | **—** | **39978** |
| Equity-settled share-based compensation |  | 22570 |  |  | 22570 |  | 22570 |
| Share options exercised |  | 311 |  |  | 311 |  | 311 |
| Issue of share capital – net of transaction costs | 138 | 126104 |  |  | 126242 |  | 126242 |
| **Balance as of December 31, 2022** | **767** | **714177** | **(500299)** | **(1481)** | **213164** | **—** | **213164** |

---

Immatics Press Release March 22, 2023 13 \| 13

## Exhibit 99.2

**Exhibit 99.2**

![](image_001.jpg)© Immatics. Not for further reproduction or distribution. Delivering the Power of T cells to Cancer Patients© Immatics. Not for further reproduction or distribution. Immatics Corporate Presentation March 22, 2023

![](image_002.jpg)

Forward - Looking Statement This presentation ("Presentation") is provided by Immatics N . V . ("Immatics" or the "Company") for informational purposes only . The information contained herein does not purport to be all - inclusive and none of Immatics, any of its affiliates, any of its or their respective control persons, officers, directors, employees or representatives makes any representation or warranty, express or implied, as to the accuracy, completeness or reliability of the information contained in this Presentation . Forward - Looking Statements . Certain statements in this presentation may be considered forward - looking statements . Forward - looking statements generally relate to future events or the Company's future financial or operating performance . For example, statements concerning timing of data read - outs for product candidates, the timing of IND or CTA filing for pre - clinical stage product candidates, the Company's focus on partnerships to advance its strategy, and other metrics are forward - looking statements . In some cases, you can identify forward - looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology . Such forward - looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements . These forward - looking statements are based upon estimates and assumptions that, while considered reasonable, Immatics and its management, are inherently uncertain . New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties . Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management's control including general economic conditions and other risks, uncertainties and factors set forth in the Company's Annual report on Form 20 - F and other filings with the Securities and Exchange Commission (SEC) . Nothing in this presentation should be regarded as a representation by any person that the forward - looking statements set forth herein will be achieved or that any of the contemplated results of such forward - looking statements will be achieved . You should not place undue reliance on forward - looking statements, which speak only as of the date they are made . The Company undertakes no duty to update these forward - looking statements . No Offer or Solicitation . This communication is for informational purposes only and does not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or an offer to buy or the solicitation of an offer to buy any securities, and there shall be no sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction . No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933 , as amended, or in an offering exempt from registration . Certain information contained in this Presentation relates to or is based on studies, publications, surveys and the Company's own internal estimates and research . In addition, all of the market data included in this presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions . Finally, while the Company believes its internal research is reliable, such research has not been verified by any independent source . All the scientific and clinical data presented within this presentation are – by definition prior to completion of the clinical trial and a clinical study report – preliminary in nature and subject to further quality checks including customary source data verification . 2

![](image_003.jpg)

Therapeutic Opportunity Potential for addressing large patient populations with high prevalence targets in solid tumors Two Clinical - Stage Modalities Pipeline of TCR - T and TCR Bispecific product candidates in clinical & preclinical development Building a Leading TCR Therapeutics Company 3 Intro Differentiated Platforms Unique technologies to identify true cancer targets and right TCRs Clinical PoC for Cell Therapy High rate of confirmed objective responses across multiple solid tumors in early TCR - T clinical development

![](image_004.jpg)

4 Three IMA203 Ph1b cohorts: • Monotherapy • Checkpoint combo • 2nd - gen IMA203CD8 Update on all three cohorts and identification of most promising cohort to advance towards pivotal trials is planned for 2H 2023 ACTengine® IMA203 (PRAME) Advance ongoing Phase 1 clinical trial Establish clinical PoC TCER® IMA401 (MAGEA4/8) Submission of CTA 1 application planned in 2Q 2023 Start of Phase 1/2 clinical trial planned in 2H 2023 TCER® IMA402 (PRAME) Intro Solid cash runway into 2025 to reach multiple value inflections points across our portfolio Our Near - Term Focus – Clinical Development of Our Lead Assets from Our Autologous TCR - T (ACTengine®) and TCR Bispecifics (TCER®) Pipeline 1 Clinical Trial Application (CTA) is the European equivalent of an Investigational New Drug (IND) application

![](image_005.jpg)

ACTengine® IMA203 TCR - T Product Manufacturing Enhancing Manufacturing Process and Capabilities Leukapheresis Rapid Manufacturing Process 1 week Expedited QC Release Testing 1 week Infusion - ready Manufacturing of ACTengine® IMA203 TCR - T & other future autologous /allogeneic candidates Expected to be operational in 2024 Approx. 100,000 sq ft in Houston area, TX – modular and flexible design Early - stage and registration - directed clinical trials as well as initial commercial supply State - of - the - art research & GMP manufacturing facility Short manufacturing turnaround time 5 Intro

![](image_006.jpg)

Our TCR - based Approaches Leverage the Full Target Space beyond the Cancer Cell Surface 6 Intro

![](image_007.jpg)

Two Distinct TCR - based Therapeutic Modalities in Clinical Development 7 Differentiated positioning of ACTengine® vs. TCER® based on patient population and medical need Intro 1 Interim data update from the ACTengine® IMA203 TCR - T Phase 1 trial with a 50% (6/12) confirmed ORR target dose or above with at least 1 billion infused TCR - T cells across several solid tumor indications, 80% (4/5) confirmed ORR in Phase 1b patients only; 2 Initial manufacturing may provide sufficient quantity for potential repeat dosing. Autologous TCR - T (ACTengine®) TCR Bispecifics (TCER®) • Strong clinical activity in patients with high tumor burden 1 • Single dose 2 • Proprietary manufacturing process for enhanced potency of T cells • Specialized medical centers • Target requirements: stringent tumor selectivity, low, medium, high copy numbers • Off - the - shelf biologic for immediate treatment • Repeat dosing • All hospitals and out - patient, opportunity for larger patient reach • Favorable commercial characteristics • Target requirements: strong tumor association, median to high copy numbers

![](image_008.jpg)

Modality Product Candidate Target Preclinical Phase 1a 1 Phase 1b 1 Phase 2 Phase 3 Autologous ACT ACTengine® IMA203 PRAME ACTengine® IMA203CD8 PRAME ACTengine® IMA204 COL6A3 Multiple programs Undisclosed Allogeneic ACT γδ T cells ACTallo® IMA30x Undisclosed Multiple programs Undisclosed Bispecifics TCER® IMA401 MAGEA4/8 TCER® IMA402 PRAME TCER® IMA403 Undisclosed Multiple programs Undisclosed Our Pipeline of TCR - based Adoptive Cell Therapies and Bispecifics 8 Intro 1 Phase 1a: Dose escalation, Phase 1b: Dose expansion; 2 Opdivo® (nivolumab): programmed death - 1 (PD - 1) immune checkpoint inhibitor; \* I mmatics proprietary ACTallo® platform utilizing Editas ' CRISPR gene editing technology + Checkpoint Inhibitor 2 \*

![](image_009.jpg)

Potential for Large Patient Populations across Multiple Solid Cancers 9 Uterine Carcinoma – 100% Sarcoma Subtypes – up to 100% Cut. Melanoma – 95% Uveal Melanoma 1 – 90% Ovarian Carcinoma – 80% Squamous NSCLC – 65% TNBC – 60% Small Cell Lung Cancel – 55% Kidney Carcinoma – up to 45% Cholangiocarcinoma – 35% Adeno NSCLC – 25% Breast Carcinoma – 25% HNSCC – 25% Esophageal Carcinoma – 20% HCC – 20% Bladder Carcinoma – 20% Sarcoma Subtypes – up to 80% Squamous NSCLC – 50% HNSCC – 35% Bladder Carcinoma – 30% Esophageal Carcinoma – 25% Uterine Carcinosarcoma – 25% Ovarian Carcinoma – 20% Melanoma – 20% I MA203 / IMA402 PRAME IMA401 MAGEA4/8 IMA204 COL6A3 Exon 6 Intro Pancreatic Carcinoma – 80% Breast Carcinoma – 75% Stomach Carcinoma – 65% Sarcoma – 65% Esophageal Carcinoma – 60% Squamous NSCLC – 55% Adeno NSCLC – 55% HNSCC – 55% Uterine Carcinosarcoma – 55% Colorectal Carcinoma – 45% Mesothelioma – 45% Cholangiocarcinoma – 40% Ovarian Carcinoma – 40% Melanoma – 35% Bladder Carcinoma – 35% ACTengine® and TCER® targets demonstrate high prevalence in m ultiple s olid cancers Target prevalence for selected solid cancer indications are based on TCGA (for SCLC: in - house) RNAseq data combined with a propr ietary mass spec - guided RNA expression threshold ; 1 Uveal melanoma target prevalence is based on IMADetect® qPCR testing of screening biopsies from clinical trial patients (n=21)

![](image_010.jpg)

ACTengine® IMA203 – TCR - T Targeting PRAME 10

![](image_011.jpg)

ACTengine® IMA203 Targeting PRAME – Mechanism of Action Immatics' Leading TCR - T Approach 11 IMA203

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Multi - Tumor Target PRAME Promising Opportunity for TCR - based Therapies 12 PRAME Peptide Target • HLA - A\*02:01 presented peptide identified by XPRESIDENT® quant. mass spectrometry • Presented at high target density in tumor tissue (100 - 1000 copies/cell) • Homogenously expressed • Highly cancer - specific, not expressed in normal tissue at relevant levels • Highly prevalent across many solid cancers • Potential to reach a large cancer patient population IMA203 T cell Receptor (TCR): • Affinity - improved TCR by enhanced TCR chain pairing • High functional avidity: EC50 ~5 ng/ml • O ff - target toxicity screening against normal tissue peptides selected from our immunopeptidome database to retain specificity Indication % PRAME positive patients 1 Uterine Carcinoma Uterine Carcinosarcoma Sarcoma Subtypes Cut. Melanoma Uveal Melanoma 2 Ovarian Carcinoma Squamous NSCLC TNBC Small Cell Lung Cancer Kidney Carcinoma Cholangiocarcinoma Adeno NSCLC Breast Carcinoma HNSCC Esophageal Carcinoma HCC Bladder Carcinoma 100% 100% up to 100% 95% 50% 80% 65% 60% 55% up to 45% 35% 25% 25% 25% 20% 20% 20% SqNSCLC Ovarian Cancer PRAME RNA detection in tumor samples (ISH) 1 PRAME target prevalence is based on TCGA (for SCLC: in - house) RNAseq data combined with a proprietary mass spec - guided RNA expre ssion threshold; 2 TCGA: early & late - stage primary tumor samples, Immatics clinical trials: late - stage/metastatic tumor samples, Role of PRAME in metastasis of uveal melanoma: Field et al. 2016 Clinical Cancer Research; NSCLC: Non - small cell lung cancer, TNBC: Triple - negative breast cancer, HNSCC: Head and neck squa mous cell carcinoma; HCC: Hepatocellular carcinoma Uterine Carcinoma Cut. Melanoma Uveal Melanoma 2 Ovarian Carcinoma 90% 95% 90% 70% Patient screening data from Immatics' clinical trials support high prevalence of PRAME: IMA203

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ACTengine® IMA203 – Patient Flow 13 HLA - A\*02 Testing Blood sample; Central lab Treatment & Observation Phase Long Term Follow - up Screening & Manufacturing Phase ACTengine® Manufacturing by Immatics Infusion of ACTengine® T cell Product Lymphodepletion 30 mg/m 2 Flu darabine 1 and 500 mg/m 2 Cy clophosphamide for 4 days Target Profiling Fresh Tumor Biopsy; IMADetect® Low dose IL - 2 1m IU daily days 1 - 5 and twice daily days 6 - 10 \* Safety and efficacy monitoring for 12 months IMA203 \* IL - 2 dose reduction from twice daily to daily for the first 5 days and dosing duration from 14 to 10 days introduced prior to treatment of first patients on dose level 3 ; 1 Dose reduction of Fludarabine (from 40 mg/m 2 to 30 mg/m 2) was introduced prior to treatment of the first patient on dose level 3 Leuka - pheresis IMA203 x x Expression Antigen 1 3 2

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First pt treated Aug 20 22; DL3 completed, DL4a ongoing IMA203 TCR - T Phase 1 Design Three Phase 1b Expansion Cohorts to Establish Durable Objective Responses 14 14 Phase 1b Dose Expansion Phase 1a Dose Escalation Cohort A IMA203 Monotherapy at Target Dose (plus DL5) 1 Increasing T cell:Tumor cell Ratio 2 Cohort B IMA203 at Target Dose plus Checkpoint Inhibitor 3 Blocking PD - 1/PD - L1 pathway Cohort C Adding functional CD4 T cells 5 IMA203 Monotherapy in Basket Trial Completed & provisional RP2D 1 determined in March 2022 First pt treated March 2022 First pt treated May 20 22 IMA203 Interim Update Oct 10, 2022 Phase 1a: all 27 patients Phase 1b cohort A: 5 patients IMA203CD8 2nd Gen at Target Dose (plus DL5) 4 1 RP2D (target dose) determined at DL4, exploration of higher dose (DL5) ongoing; 2 Demonstrated to be associated with durable response: Locke et al. 2020 Blood Advances; 3 Opdivo® (nivolumab): programmed death - 1 (PD - 1) immune checkpoint inhibitor; 4 Treatment of n=3 patients at DL3 completed, enrollment at DL4a ongoing before continuation at DL4b and potentially DL5; 5 Demonstrated to be important for long - term remission: Melenhorst et al. 2022 Nature, Bai et al. 2022 Science Advances;

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Moving from Phase 1a to Phase 1b Continuous Improvement of Key Aspects that May Influence Clinical Outcome 15 Our Focus in Phase 1a • Safety • Biological activity • Initial signs of clinical activity Our Focus in Phase 1b • Safety • Durability of response at 6 months and beyond to pave the way for registration trials We continue to improve key determinants as we move from Phase 1a into Phase 1b 1. Higher T cell dose: Only RP2D or exploratory DL5 2. Enhanced cell product: Implementation of manufacturing enhancements (e.g. monocyte depletion, see appendix) focusing on robustness, quality, and speed of product release 3. "Real life" patients: Working with more disease area experts to reduce the fraction of very heavily pre - treated patients with extreme disease burden who have exhausted standard of care and have undergone multiple clinical trials IMA203

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16 ACTengine® IMA203 – Interim Monotherapy Update Phase 1b Cohort A Initial Data from 5 Patients Key Take Aways IMA203 Monotherapy Phase 1a Dose Escalation Data from 27 Patients 1 ORR: O bjective response rate (partial responses) according to RECIST 1.1 at first scan post infusion (~6 weeks) ; 2 confirmed ORR: Confirmed objective response rate (confirmed partial responses) according to RECIST 1.1 at second scan post infusion (~12 weeks), 1 patient with SD at ~ 6 - week scan with pending ~12 - week scan considered as non - responder for confirmed ORR; \* Total transduced viable CD8 T cells, all patients in Phase 1a DL4 and Phase 1b DL4/DL5; RPD2: Recommended Phase 2 dose; DL: Dose level • Acceptable & manageable treatment - emergent adverse events (TEAEs) • DL4 defined as provisional RP2D • 48% (13/27) initial ORR 1 across all doses and multiple solid cancers • Limited number of confirmed responses • Acceptable & manageable TEAEs • Patients treated at RP2D (DL4) and exploratory DL5 • 80% (4/5) initial ORR 1 in patients with 4 different solid tumors • 80% (4/5) confirmed ORR 2 : Confirmation of all objective responses after ~3 months; all responses ongoing • Favorable tolerability profile • Confirmed responses in multiple heavily pre - treated solid tumor types (cut. melanoma, uveal melanoma, head and neck cancer, ovarian cancer, synovial sarcoma) • Positively evolving durability profile for IMA203 » above 1 bn TCR - T cells (DL4/5) \* in phase 1a and phase 1b: 50% (6/12) confirmed ORR 2 » in phase 1b patients only : 80% (4/5) confirmed ORR 2 Data cut - off – 06 - Sept - 2022 IMA203

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ACTengine® IMA203 Monotherapy – Patient and Product Characteristics 17 Phase 1a Dose Escalation Phase 1b (Cohort A) Dose Expansion All pts (DL1 - 4) DL4 pts only All pts (DL4/DL5) Patients treated 27 7 5 Prior lines of treatment Mean (min, max) 4.2 (1, 8) 4.6 (1, 7) 4.0 (1, 10) LDH at baseline >1 x ULN [% of patients] 66.7 85.7 40.0 Baseline tumor burden Mean target lesion sum of diameter [mm] (min, max) 130.3 (29.0, 219.7) 115.8 (37.0, 197.6) 55.2 (21.0, 102.9) Dose Mean transduced viable CD8 T cells infused [x10 9 ] (min, max) 0.65 (0.08, 2.09) 1.48 (1.07, 2.09) 2.22 (1.30, 4.16) Manufacturing Process Prior versions 1 Current version IMA203 Dose Levels 1 Except for 1 product for patient at DL3 generated with current manufacturing process; \* DL4: 200m to 1.2bn transduced viable CD8 T cells per m 2 BSA, all patients in DL4 received cell doses in the upper tier of DL4, above DL3; \*\* DL5: up to 4.7bn transduced viable CD8 T cells per m 2 BSA; ULN: Upper limit of normal; BSA: Body surface area; RP2D: Recommended Phase 2 dose; LHD: Lactate dehydrogenase 32 heavily pre - treated patients, thereof 12 patients at target dose or above , were infused with IMA203 TCR - T cells targeting PRAME DL4 was defined as provisional RP2D for Phase 1b, exploration of higher DL5 ongoing \* \*\* Data cut - off – 06 - Sept - 2022 Phase 1a Phase 1b IMA203

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IMA203 Tolerability Profile – Most Frequent Adverse Events Acceptable and Manageable Treatment - emergent Adverse Events (TEAEs) • Expected cytopenia (Grade 1 - 4) associated with lymphodepletion in all patients • Cytokine release syndrome (CRS) : 31 of 32 (97%) patients infused with IMA203 experienced CRS of any Grade ▪ 29 patients had Grade 1 or 2 CRS ▪ 2 patients had Grade 3 CRS (both in phase 1a); recovered to Grade ≤2 after 3 and 4 days, respectively • Low - moderate ICANS 1 : 5 of 32 (16%) patients infused with IMA203 experienced Grade 1 or 2 ICANS (all in phase 1a) • No dose - dependent increase of CRS and ICANS • No additional DLT 2 18 One patient that started lymphodepletion in Phase 1a died from sepsis of unknown origin and did not receive IMA203 T cells, p ati ent reported earlier and not shown; CRS and ICANS graded by CARTOX criteria (Neelapu et al ., 2018); 1 I CANS: Immune effector cell - associated neurotoxicity syndrome ; 2 DLT: dose - limiting toxicity, one DLT in phase 1a at DL2 reported on March 17, 2021 Data cut - off – 06 - Sept - 2022 IMA203

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Frequency of Observed Objective Responses Improved ORR and Confirmed ORR at Higher Dose and in Phase 1b Cohort A 19 1 All patients received >1 x 10 9 total transduced viable CD8 T cells ; 2 ORR: O bjective response rate (partial responses) according to RECIST 1.1 at first scan post infusion (~6 weeks) ; 3 Confirmed ORR (cORR): Confirmed objective response rate (confirmed partial responses) according to RECIST 1.1 at second scan post infusion (~12 weeks); \* 1 patient with SD at ~ 6 - week scan with pending ~12 - week scan considered as non - responder for cORR. • Higher ORR and confirmed ORR observed at doses above 1 billion TCR - T cells (DL4, DL5) • Earl y trends towards higher ORR and confirmed ORR observed in Phase 1b vs. Phase 1a patients Phase 1a Phase 1a + Phase 1b Phase 1b only All pts (DL1 - 4) DL4 pts only 1 DL4/DL5 pts only 1 All pts (DL4/DL5) 1 Patients Treated 27 7 12 5 ORR (~6 weeks) 2 48% (13/27) 57% (4/7) 67% (8/12) 80% (4/5) cORR (~12 weeks) 3 19% (5/27) 29% (2/7) 50% (6/12) \* 80% (4/5) \* Data cut - off – 06 - Sept - 2022 IMA203

![](image_020.jpg)

Best Overall Response IMA203 Continues to Deliver Objective Responses in Major Solid Tumor Types 20 Confirmed objective responses across a broad spectrum of different tumor types such as cutaneous melanoma, uveal melanoma, head and neck cancer, ovarian cancer, synovial sarcoma \* Maximum change of target lesions and RECIST 1.1 BOR at different timepoints ; # Synovial sarcoma patient (DL3) PD at week 6 not shown as t arget lesions were not evaluable; PD: Progressive disease; SD: Stable disease; PR: Partial response; cPR : Confirmed partial response; BL: Baseline Data cut - off – 06 - Sept - 2022 Phase 1a (Dose Escalation) N=27 # Phase 1b (Cohort A) N=5 IMA203

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Responses over Time Encouraging Early Signs for Improved Durability at Higher Dose and in Phase 1b Patients 21 # Synovial sarcoma patient (DL3) PD at week 6 not shown as t arget lesions were not evaluable; PD: Progressive disease; SD: Stable disease; PR: Partial response; cPR : Confirmed partial response; BL: Baseline Phase 1a (Dose Escalation) N=27 # Phase 1b (Cohort A) N=5 Best overall response (RECIST1.1) Data cut - off – 06 - Sept - 2022 IMA203

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Translational Data Consistent with Clinical Outcomes Supporting Proposed Mechanism of Action for IMA203 22 Mann - Whitney U test; 1 T cell infiltration for 19 patients (9 non - responder, 10 responder) with 6 - week post infusion biopsy available (1 patient with ~5 - week post infusion biopsy) IMA203 T cell infiltration into tumor correlates with objective responses 1 IMA203 T cell infiltration [vector copies/µg gDNA] Data cut - off – 06 - Sept - 2022 p=0.001 Vector copies/µg gDNA High IMA203 T cell engraftment and persistence in peripheral blood N=19 N=32 2 6 1 0 1 4 1 8 1×10 -1 1×10 0 1×10 1 1×10 2 1×10 3 1×10 4 1×10 5 1×10 6 1×10 7 2 0 4 0 6 0 8 0 1 0 0 2 0 0 4 0 0 6 0 0 8 0 0 Days post infusion B a s e l i n e Phase 1a Phase 1b 0 5×10 5 1×10 6 1.5×10 6 I M A 2 0 3 T c e l l p e a k f r e q u e n c y [ v e c t o r c o p i e s / μ g g D N A ] Cohort A p=0.0003 cPR PR P D/SD Persistence over time Peak frequency cPR PR P D/SD Vector copies/µg gDNA N=32 IMA203

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ACTengine® IMA203 Product Manufacturing Manufacturing Improvements Implemented in Phase 1b Enhance Key Features of the Cell Product 23 1 Includes 5 IMA203 products infused into Phase 1b cohort A patients, and 1 product infused into Phase 1a patient at DL3; \* Unp air ed t test; # Mann - Whitney U test, 1 patient in Phase 1a at DL3 received ~0.5 x 10 9 total transduced viable CD8 T cells manufactured with current process IMA203 All Phase 1b cell products were manufactured with the current, optimized process including manufacturing improvements such as x Monocyte depletion x Serum - free transduction Significantly higher peak frequencies in Phase 1b patients infused with current, optimized product version Prior versions (n=27) Manufacturing process (infused products) Current process (n=6) 1 Prior versions (n=27) C u r r e n t V e r s i o n (n = 6) A l l P r i o r V e r s i o n s (n = 2 7) 0 20 40 60 80 100 % C D 8 + C e l l s p = 0.0232 C u r r e n t V e r s i o n (n = 6) A l l P r i o r V e r s i o n s (n = 2 7) 0 20 40 60 80 % T r a n s d u c t i o n p = 0.0025 p=0.0232\* p=0.0025\* Current process (n=6) 1 Phase 1a Phase 1b 0 5×10 5 1×10 6 1.5×10 6 P e a k f r e q u e n c y [ V e c t o r c o p i e s / μ g g D N A ] Cohort A p = 0.0003 p=0.0003 # Prior versions Current process IMA203 T cell peak frequency [vector copies/µg gDNA]

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PRAME Expression – RNAseq Data Combined with Immatics' Mass Spectrometry - guided RNA Threshold for Prevalence Prediction 24 Immatics' proprietary mass spectrometry - guided RNA threshold 100% 100% 100% 95% 50%\* 80% 65% 60% 25% % PRAME positive patients 1 1 PRAME target prevalence is based on TCGA RNAseq data combined with a proprietary mass spectrometry - guided RNA expression thresho ld; \* PRAME target prevalence in uveal melanoma based on IMADetect® qPCR testing of screening biopsies from clinical trial patients (n=21) demonstrates substantial higher prevalence of 90%, TCGA: early & late - stage primary tumor samples, Immatics clinical trials: late - stage/metastatic tumor samples, Role of PRAME in metastasis of uveal melanoma: Field et al. 2016 Clinical Cancer Research IMA203

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PRAME Expression in Tumors from Screened Patients (N=32) Highlighting Tumor Types (left), Type of Best Overall Response (middle) and Study Cohort (right) 25 Mann - Whitney U test, p=0.076 PRAME RNA expression in pre - treatment biopsies relative to threshold IMA203 has the p otential to provide clinical benefit for all PRAME biomarker - positive cancer patients Data cut - off – 06 - Sept - 2022 p=0.076 IMA203 achieved objective responses at all expression levels above Immatics' mass spectrometry - guided RNA threshold p=0.076 p=0.076 IMA203

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Selected Indications Incidence R/R Incidence PRAME Positive Patient Population Based on R/R Incidence; PRAME and HLA - A\*02:01+ Cut. Melanoma 99,800 7,700 95% 2,999 Uveal Melanoma 1,500 800 90% 295 Ovarian Carcinoma 19,900 12,800 80% 4,198 Uterine Carcinoma 62,700 10,700 100% 4,387 Uterine Carcinosarcoma 3,300 1,900 100% 779 Synovial Sarcoma 1,000 400 100% 164 Squamous NSCLC 57,000 34,600 65% 9,221 Small Cell Lung Cancer 31,900 19,400 55% 4,375 Cholangiocarcinoma 8,000 7,000 35% 1,005 Adeno NSCLC 91,200 55,300 25% 5,668 Breast Carcinoma 290,600 43,800 25% TNBC: 60% 4,490 HNSCC 66,500 15,100 25% 1,548 IMA203 TCR - T Has the Potential to Reach a Large Patient Population ~39,000 Patients per Year in the US only 26 Incidences based on public estimates and Immatics internal model; Relapsed/refractory (R/R) or last - line patient population approximated by annual mortality; Estimated 41% HLA - A\*02:01 positive population in the US; PRAME target prevalence is based on TCGA (for SCLC: in - house) RNAseq data combined with a proprietary mass spec - guided RNA expression threshold ; Uveal melanoma target prevalence is based on IMADetect® qPCR testing of screening biopsies from clinical trial patients (n= 21) Multiple opportunities to broaden patient reach and patient benefit: » Expand beyond US population » Expand into other indications such as kidney, esophageal, bladder, liver cancer, other sarcoma subtypes through indication - specific or indication - agonistic label expansion » Move into earlier lines of therapy (R/R Incidence  Incidence) » Inclusion of patients with lower PRAME - threshold TOTAL ~ 39 ,000 annually in the US Initial indications of interest based on PRAME prevalence, patient population size and observed clinical responses IMA203

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IMA203 Monotherapy – Conclusions ACTengine® IMA203 Targeting PRAME Offers a Unique Opportunity for Solid Cancer Patients IMA203 monotherapy Phase 1a and Phase 1b cohort A summary: • IMA203 continues to be well tolerated with manageable safety profile • Confirmed responses across a broad spectrum of different solid tumor types in heavily pre - treated patients • Positively evolving durability profile for patients treated with higher doses and in phase 1b • Clinical validation of PRAME biomarker threshold and associated prevalences » We have clinically validated PRAME as one of the largest known T cell targets for solid cancers to date IMA203 development strategy: • Transition to indication - specific development strategy • Three Phase 1b e xpansion c ohorts ongoing each designed to establish safety, evaluate the observed objective response rate, demonstrate durability & provide the trigger for registration trials 27 Data highlight the clinical potential of IMA203 TCR - T to achieve meaningful benefit for a large patient population IMA203

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ACTengine® IMA203CD8 – Next - generation TCR - T Building on First - Gen IMA203 Success to Further Improve Anti - Tumor Activity • Engagement of CD4 T cells by CD8 co - transduction reported to boost anti - tumor activity in TCR - T trials • Recent data from leukaemia patients treated with CAR - T suggest a relevant role of engineered CD4 T cells in maintaining durable tumor responses over a long period of time 1 • Functional superiority of the CD8 αβ construct over multiple other CD8 constructs in preclinical experiments • Proprietary 4 - in - 1 lentiviral vector to engineer CD4 and CD8 T cells with the PRAME - specific IMA203 TCR and CD8 αβ construct (IMA203CD8) TUMOR CELL DEATH CD4 T CELL Cytotoxic Activity CD8 T CELL T cell Help Cytotoxic Activity 28 1 M elenhorst et al. 2022 Nature , Bai et al. 2022 Science Advances IMA203CD8

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ACTengine® IMA203CD8 – Preclinical Assessment of Anti - Tumor Efficacy Functional CD4 T cells Mediate Longer Anti - Tumor Activity than CD8 T cells in vitro 29 0 50 100 150 200 250 300 350 400 450 0.0 0.5 1.0 1.5 2.0 CD8 Hours after Coculture T u m o r f o l d g r o w t h 0 50 100 150 200 250 300 350 400 450 0.0 0.5 1.0 1.5 2.0 CD4 Hours after Coculture T u m o r f o l d g r o w t h 2 nd addition of tumor cells 3 rd 4 th 5 th 6 th 2 nd addition of tumor cells 3 rd 4 th 5 th 6 th IMA203CD8 Engagement of CD4 T cells may enhance depth and durability of anti - tumor response and clinical outcome of TCR - T in solid cancer patients

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Comprehensive PRAME Strategy To Deliver Meaningful Clinical Benefit to Patients with PRAME - positive Cancers 30 Phase 1b Dose Expansion Phase 1a Dose Escalation Cohort A IMA203 Monotherapy at Target Dose (plus DL5) 1 Increasing T cell:Tumor cell Ratio 2 Cohort B IMA203 at Target Dose plus Checkpoint Inhibitor 3 Blocking PD - 1/PD - L1 pathway Cohort C IMA203CD8 2nd Gen at Target Dose (plus DL5) 4 Adding functional CD4 T cells 5 IMA203 Monotherapy in Basket Trial Completed & provisional RP2D 1 determined in March 2022 ACTengine® IMA203: Update on all three cohorts and identification of most promising cohort to advance towards pivotal trials is planned for 2H 2023 TCER® IMA402: Entering clinical development in 2H 2023 Upcoming Value Inflection Points for Our PRAME Programs First pt treated March 2022 First pt treated May 20 22 First pt treated Aug 20 22; DL3 completed, DL4a ongoing 1 RP2D (target dose) determined at DL4, exploration of higher dose (DL5) ongoing; 2 Demonstrated to be associated with durable response: Locke et al. 2020 Blood Advances; 3 Opdivo® (nivolumab): programmed death - 1 (PD - 1) immune checkpoint inhibitor; 4 Treatment of n=3 patients at DL3 completed, enrollment at DL4a ongoing before continuation at DL4b and potentially DL5; 5 Demonstrated to be important for long - term remission: Melenhorst et al. 2022 Nature, Bai et al. 2022 Science Advances;

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ACTengine® IMA204 – TCR - T Targeting COL6A3 Exon 6 31

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ACTengine® IMA204 First - in - Class TCR - T Targeting Tumor Stroma Key Features 32 HLA - A\*02 - presented peptide derived from COL6A3 exon 6 Naturally and specifically presented on tumors at high target density 1 : 100 - 700 copies/cell Novel tumor stroma target identified and validated by XPRESIDENT® quant. mass spectrometry platform High - affinity, specific TCR targeting COL6A3 exon 6 Affinity - maturated, CD8 - independent TCR High functional avidity 2 : ~0.01ng/ml Identified and characterized by XCEPTOR® TCR discovery and engineering platform CD8 - independent, next - generation TCR engages both, CD8 and CD4 T cells In vitro anti - tumor activity against target - positive cell lines in CD8 and CD4 T cells Complete tumor eradication in in vivo mouse models Pancreatic Carcinoma – 80% Breast Carcinoma – 75% Stomach Carcinoma – 65% Sarcoma – 65% Esophageal Carcinoma – 60% Squamous NSCLC – 55% Adeno NSCLC – 55% HNSCC – 55% Uterine Carcinosarcoma – 55% Colorectal Carcinoma – 45% Mesothelioma – 45% Cholangiocarcinoma – 40% Ovarian Carcinoma – 40% Melanoma – 35% Bladder Carcinoma – 35% 1 Target density: peptide copy number per tumor cell, approximate range representing the majority of tumor samples analyzed; 2 Functional avidity: EC50 half maximal effective concentration; 3 Solid cancer indications with 20% or more target expression, Target prevalence for selected cancer indications based on mRNA expression (TCGA and Immatics inhouse data) TARGET TCR PREC LINICAL DATA PATIENT POPULATION 3 IMA204 provides a promising therapeutic opportunity for a broad patient population as monotherapy or in combination with TCR - T cells directed against tumor targets IMA204

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ACTengine® IMA204 – High Affinity, CD8 - independent TCR Complete Tumor Eradication in vitro & in vivo 1 by Affinity - enhanced IMA204 TCR CD8 - independent TCR leads to tumor eradication in all mice treated 33 Control IMA204 TCR D7 D16 D22 D29 Affinity maturated CD8 - independent, next - generation TCR engages both CD4 and CD8 T cells without the need of CD8 co - transduction Stroma cells Tumor cells Stroma Target (COL6A3 exon 6) in Ovarian Cancer sample Example of a Tumor Target in same Ovarian Cancer sample 1 In vivo data in collaboration with Jim Riley, University of Pennsylvania, control: non - transduced T cells. TCR avidity and specificity d ata not shown, available in IMA204 presentation on Immatics website. COL6A3 exon 6 prevalently expressed at high target density in tumor stroma across many solid cancers IMA204

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ACTallo® – Our Next - generation Off - the - shelf TCR - T 34

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ACTallo® – Immatics' Allogeneic Cell Therapy Approach • Off - the - shelf cell therapy , no need for personalized manufacturing  reduced logistics and time to application • Potential for hundreds of doses from one single donor leukapheresis  lower cost of goods • Use of healthy donor material provides standardized quality and quantity of starting material • Strategic collaborations combining Immatics' proprietary ACTallo® platform with Bristol Myers Squibb's next - gen technologies and Editas Medicine's CRISPR gene editing technology to develop next - gen allogeneic γδ TCR - T/CAR - T programs 35 ACTallo® γδ T cell Cell Engineering (gene editing & armoring) γδ T cell Collection from Healthy Donor Expansion Off - the - shelf Products Patient Treatment

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Why γδ T cells? γδ T cells Are Well Suited for an Off - the - shelf Cell Therapy Approach 36 γδ T cells x are abundant in the peripheral blood x show intrinsic anti - tumor activity x naturally infiltrate solid tumors & correlate with favorable prognosis x are HLA - independent, thus do not cause graft - vs - host disease in allogeneic setting x can be expanded to high numbers in a cGMP - compatible manner x can be effectively redirected using αβ TCR or CAR constructs In vitro a nti - tumor activity 0 48 96 144 192 0 5 10 15 Hours F o l d G r o w t h (U 2 0 S - R F P +) Tumor cells only  T cells (NT)  T cells IMA203 TCR + T cells (NT) T cells IMA203 TCR + γδ T cells (control) + tumor cells tumor cells only αβ T cells (control) + tumor cells γδ T cells TCR + + tumor cells αβ T cells TCR + + tumor cells ACTallo® 0 5 10 15 20 25 0.001 0.01 0.1 1 10 100 1000 10000 100000 1000000 Day F o l d e x p a n s i o n o f   T c e l l s Expansion Fold - growth (target - positive tumor cells)

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TCER® – TCR Bispecifics 37

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TCER® – Immatics' Next - generation, Half - Life Extended Bispecifics Proprietary TCER® Format Consisting of Three Distinct Elements 38 High - affinity TCR domains targeting XPRESIDENT® - selected tumor - specific peptide - HLA molecules Low - affinity T cell recruiter against CD3/TCR Fc part for half - life extension, favorable stability and manufacturability Next - gen, half - life extended TCER® format designed to  safely apply high drug doses for activity in a broad range of tumors  achieve optimized scheduling 2 1 3 Cytotoxic lytic granules T umor cell killing A ctivated T cell TCER®

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TCER® – Immatics' Next - generation, Half - Life Extended Bispecifics 39 pHLA targeting TCR x High - affinity (single digit nM) TCR targeting XPRESIDENT® - selected tumor - specific peptide - HLA molecules x Broad therapeutic window through XPRESIDENT® - guided affinity maturation (>1000x) 1 x Complete tumor eradication in mouse xenograft models at low doses T cell recruiting antibody x Low - affinity (triple digit nM) T cell recruiter against both TCR & CD3 x Optimized biodistribution aiming for enrichment at tumor site and prevention of CRS 2 x Superior anti - tumor activity in mouse models as compared to widely used CD3 recruiters Next - generation TCER® format x Off - the - shelf b iologic with antibody - like manufacturability 3 and low cost of goods x Superior anti - tumor activity 4 compared to six alternative bispecific formats x Half - life of several days expected in humans Our TCER® format is designed to maximize efficacy while minimizing toxicities in patients 1 As compared to natural TCR; 2 Based on literature data for other low - affinity recruiters (e.g. Harber et al ., 2021, Nature; Trinklein et al ., 2019, mAbs) ; 3 Production in mammalian cells (CHO cells); 4 Based on preclinical testing TCER® 1 2 3

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Potency of Our Proprietary TCR Bispecific Format TCER® 40 • Seven different TCR Bispecific formats were evaluated with a pHLA targeting TCR and the identical T cell recruiting antibody • TCER® format had higher combination of potency and specificity 1 than six alternative TCR Bispecific format designs evaluated Flexible Plug - and - play platform: TCER® format successfully validated for different TCRs & different T cell recruiting antibodies TCER® TCER® 2+1 TCR bispecific format: High potency was linked to a significantly reduced specificity profile Killing of target - positive cells by different TCR Bispecifics 1 Preclinical data on specificty not shown

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TCER® Format Is Designed for Optimized Efficacy and Safety Superior Tumor Control Using a Novel, Low - Affinity Recruiter 41 Widely used T cell recruiting Ab (3 variants) medium to high affinity (single to double digit nM) n = 6 mice/treatment group, n = 10 mice in vehicle group, 2 donors/group Dose: 0.025 mg/kg Proprietary, low - affinity T cell recruiting region demonstrates superior tumor control compared to analogous TCER® molecules designed with higher - affinity variants of a widely used recruiter Immatics' T cell recruiting Ab low affinity (triple digit nM) TCER® Tumor Model in Mice 1 1 Hs695T xenograft model in NOG m ice , tumor volume of group means shown

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TCER® Format Is Designed for Optimized Efficacy and Safety Reduced Target - Unrelated Recruiter - Mediated Cytokine Release using a Low - Affinity Recruiter 42 TCER® Whole blood cytokine release assay N= 3 HLA - A\*02 - positive donors N=16 cytokines tested, 4 exemplary cytokines shown

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Our TCER® Portfolio Broad Pipeline of Next - Gen Half - Life Extended TCR Bispecifics 43 TCER® • PRAME peptide presented by HLA - A\*02:01 • Start of clinical trial planned for 2023 IMA402 • Undisclosed peptide presented by HLA - A\*02:01 • Preclinical PoC studies ongoing IMA403 Potential for addressing different indications and large patient populations with novel, off - the - shelf TCR Bispecifics • MAGEA4/8 peptide presented by HLA - A\*02:01 • Start of clinical trial in May 2022, dose escalation ongoing IMA401 • Undisclosed peptides presented by HLA - A\*02:01 and other HLA - types • TCER® engineering and preclinical testing ongoing IMA40x Several innovative programs

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TCER® IMA402 Targeting PRAME – Efficacy Assessment in vitro Tumor Cell Killing at Low Physiological PRAME Peptide Levels 44 0 20 40 60 80 100 120 140 10 -1 10 0 10 1 10 2 10 3 10 4 10 5 IMA402 [pM] Cytotoxicity [%] ~50 PRAME CpCs 0 0 20 40 60 80 100 120 140 10 -1 10 0 10 1 10 2 10 3 10 4 10 5 IMA402 [pM] Cytotoxicity [%] Target-negative 0 0 20 40 60 80 100 120 140 10 -1 10 0 10 1 10 2 10 3 10 4 10 5 IMA402 [pM] Cytotoxicity [%] ~110 PRAME CpCs 0 0 20 40 60 80 100 120 140 10 -1 10 0 10 1 10 2 10 3 10 4 10 5 IMA402 [pM] Cytotoxicity [%] ~250 PRAME CpCs 0 • TCER® IMA402 induces killing of tumor cells with PRAME target copies as low as 50 CpCs • Physiological PRAME levels detected in majority of cancer tissues from patients are 100 – 1000 CpCs • Preclinical activity profile enables targeting of a broad variety of tumor indications, such as lung cancer, breast cancer, ovarian cancer, uterine cancer, melanoma and others IMA402 CpC: Target peptide copy numbers per tumor cell

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TCER® IMA402 Achieves Durable Tumor Control of Large Tumors in vivo 45 -29 0 500 1000 1500 2000 2500 0 10 20 30 40 50 60 70 Study day M e d i a n t u m o r v o l u m e [ m m 3 ] Vehicle IMA402 [0.01 mg/kg] IMA402 [0.05 mg/kg] IMA402 [0.25 mg/kg] • Dose - dependent efficacy of IMA402 in cell line - derived in vivo mouse model • Durable shrinkage of large tumors including complete responses over prolonged period • Sufficiently high drug doses are key to achieving desired anti - tumor effect IMA402

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Half - life Extended Format of IMA402 Confers Terminal Half - life of >1 Week 46 pHLA – aV L Assay pHLA – aFc Assay • IMA402 shows a terminal serum half - life of ≈ 8 days in mice • IMA402 will be initially dosed weekly in the clinical trial • Dosing frequency may be adapted based on clinical data IMA402

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Upcoming activities • CTA 1 submission planned for 2Q 2023 • Start of patient treatment planned for 2H 2023 Advancing TCER® IMA402 Towards Clinical Development Recent and Upcoming Activities 47 IMA402 TCER® Ph1/2 clinical trial in patients with solid tumors Recent activities x Completion of IND - enabling data package x Manufacturing of GMP batch completed with high titer (>3.5 g/L) and high yield x Scientific advice with regulatory authorities IMA402 1 Clinical Trial Application (CTA) is the European equivalent of an Investigational New Drug (IND) application

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TCER® IMA402 Phase 1/2 Clinical Trial to Start in 2023 48 MABEL: minimum anticipated biological effect level Phase 1: Dose Escalation Phase 2a: Dose Expansion Basket trial with focus indications Adaptive design aimed at accelerating dose escalation • Specific indications plus ongoing basket • Combination therapies • Optional dose/application optimization Expansion cohort Expansion cohort Expansion cohort Trial Overview Phase 1/2 clinical trial to evaluate safety, tolerability and anti - tumor activity of IMA402 HLA - A\*02:01 - positive patients with PRAME - expressing recurrent and/or refractory solid tumors MTD/ RP2D IMA402

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Accelerated Development of TCER® IMA402 TCER® IMA402 Phase 1/2 Clinical Trial Design Targeting enhanced treatment convenience • Initially weekly i.v. infusions, potential for early optimization of scheduling based on half - life extended TCER® format • Exploring s.c. application 49 IMA402 MABEL: minimum anticipated biological effect level; DLT period: Evaluation period for potential dose limiting toxicities (DLT) in a patient Flexible trial design for fast clinical execution • Adaptive design with flexible dose cohorts, initially only 1 - 3 patients per dose level, optimized MABEL approach with elevated starting dose, short DLT period of 2 weeks • Basket trial in focus indications for accelerated signal finding, multiple options for expansion cohorts • Extension from phase 1/2 to pivotal possible Optimized patient selection to leverage the broad PRAME potential Assuring sufficient PRAME target expression using our IMADetect® qRT - PCR assay (mass spectrometry - guided RNA threshold) » No pretesting for indications with very high PRAME prevalence, e.g. melanoma, uterine & ovarian cancer, synovial sarcoma » Prospective target testing for indications with PRAME prevalence <80%, e.g. lung cancer, breast cancer, head and neck cancer 1 2 3

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Immatics' Proprietary Target and TCR Discovery Platforms 50

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True Cancer Targets & Matching Right TCRs Goal to Maximize Anti - Tumor Activity and Minimize Safety Risks of TCR - based Immunotherapies 51 True Targets via XPRESIDENT® technology platform • are naturally presented on tumor tissues as identified by mass - spec • are absent or presented at only low levels on normal tissues • are presented at high copy numbers to trigger a pharmacological response + Technology Right TCRs via XCEPTOR® technology platform • recognize the target peptide with high affinity and specificity • show selective killing of tumor cells • are developed to be suitable for two different therapeutic modalities, Cell Therapies and TCR Bispecifics

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Technology Pool of 200 Prioritized Targets as Foundation for Future Value Generation 52 200 Prioritized Targets Grouped in 3 Target Classes: 1. Well known and characterized parent protein (20%) e.g. MAGE family cancer testis antigens 2. Unknown or poorly characterized parent protein (60%) e.g. stroma target COL6A3 exon 6 3. Crypto - targets/Neoantigens (20%) Novel target class which includes RNA - edited peptides & non - classical neoantigens ~50% of our prioritized targets are non - HLA - A\*02 restricted, substantially broadening the potential patient reach >2,500 cancer & normal tissues a nalyzed by Quantitative, Ultra - Sensitive Mass Spectrometry pHLA Database based on primary tissues >200 prioritized targets

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Immatics ' Unique Capability – Identification of the most Relevant Target Example of MAGEA4/8 Peptide Target 53 1 Copy number per tumor cell (CpC) measured on a paired - sample basis by AbsQuant®, i.e. comparing MAGEA4 vs. MAGEA4/A8 peptide pre sentation on same sample, 2 Students paired T test p<0.001 2 Technology MAGEA4/8 target is presented at >5 - fold higher target density 1 than a commonly used MAGEA4 target peptide XPRESIDENT® quantitative information on target density 1 between peptides originating from the same source protein Ranking of pHLA targets

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Development of the Right TCR – XCEPTOR® Technology TCR Discovery and Engineering for ACT and TCR Bispecifics 54 TCR Bispecifics T cell engaging receptor (TCER®) Adoptive Cell Therapy ACTengine® ACTallo® • Fast, efficient and highly sensitive discovery of highly specific, natural TCRs • Protein engineering capabilities to design and maturate TCRs with increased affinity while retaining specificity • Early de - selection of cross - reactive TCRs by the u nique interplay between Immatics' target and TCR discovery platforms XPRESIDENT® and XCEPTOR® during TCR discovery 1 and TCR maturation 2 Micromolar affinity Nanomolar affinity Technology 1 XPRESIDENT® - guided off - target toxicity screening; 2 XPRESIDENT® - guided similar peptide counterselection

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Optimal Target Selection & TCR Specificity for Minimizing Safety Risks Unique Interplay between Technology Platforms Allows Early De - risking for Clinical Development 55 Target peptide presented on tumor cells Selective killing of tumor cells Target peptide presented on normal cells Off - target toxicity On - target (off - tumor) toxicity A different HLA is recognized on normal cells Alloreactivity Similar peptide presented on normal cells 1 XPRESIDENT® - guided screening for on - and off - target toxicities of TCRs based on the extensive database of peptides presented on normal tissues Technology 1 Clinical fatalities have occurred in TCR - T trials using a titin cross - reactive TCR (Cameron et al ., Sci Transl Med)

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Robust IP Portfolio Immatics' Patent Estate – Territorial Coverage 56 Cancer targets, TCRs and technology protected by: • 5,800 applications and patents filed in all major countries and regions • >115 patent families • >2,400 granted patents, thereof >550 granted patents in the US Technology

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Corporate Information & Milestones 57

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David Leitner Schuldirektor David Leitner Schuldirektor David Leitner Schuldirektor Harpreet Singh Chief Executive Officer Co - Founder >20 yrs biotech experience Arnd Christ Chief Financial Officer >20 yrs biotech experience (InflaRx , Medigene , NovImmune , Probiodrug) Carsten Reinhardt Chief Development Officer >20 yrs pharma & biotech experience (Micromet , Roche, Fresenius) Cedrik Britten Chief Medical Officer 15 yrs pharma & biotech experience (GSK, BioNTech) Rainer Kramer Chief Business Officer 25 yrs pharma & biotech experience (Amgen, MorphoSys , Jerini , Shire, Signature Dx) Steffen Walter Chief Technology Officer Co - Founder Immatics US >15 yrs biotech experience Edward Sturchio General Counsel >15 yrs pharma & biotech experience (Abeona Therapeutics, AAA, Novartis, Merck, Schering)) Jordan Silverstein Head of Strategy >10 yrs biotech experience (InflaRx , AAA) Toni Weinschenk Chief Innovation Officer Co - Founder >15 yrs biotech experience Experienced Global Leadership Team Across Europe and the US Corporate

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Strong, Focused and Highly Integrated Trans - Atlantic Organization 59 Houston, Texas ~ 150 FTEs Cell therapy development & manufacturing Munich, Germany ~ 65 FTEs Various operating functions Tübingen, Germany ~ 215 FTEs Target & TCR discovery and TCR Bispecifics developme nt Corporate FTE status as of December 2022

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Delivering s the Power of T cells to Cancer Patients© Immatics. Not for further reproduction or distribution. www.immatics.com