Immatics N : Corporate Presentation, November 2022

Immatics Corporate Presentation

November 17, 2022

Delivering the Power of T cells to Cancer Patients

© Immatics. Not for further reproduction or distribution.

© Immatics. Not for further reproduction or distribution.

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

Building a Leading TCR Therapeutics Company

Two Clinical-Stage Modalities

Pipeline of TCR-T and TCR Bispecific product candidates in clinical & preclinical development

Clinical PoC for	Differentiated	Therapeutic	Strategic	Solid
Cell Therapy	Platforms	Opportunity	Partnerships	Cash Runway
High rate of confirmed	Unique technologies	Potential for addressing	World-leading	To reach multiple
objective responses	to identify true	large patient populations	industry players	value inflections
across multiple solid	cancer targets	with high prevalence	with synergistic	points across our
tumors in early TCR-T	and right TCRs	targets in solid tumors	expertise	portfolio
clinical development

Intro	3

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

Intro	4

Two Distinct TCR-based Therapeutic Modalities in Clinical Development

Autologous TCR-T (ACTengine®)

• Strong clinical activity in patients with high tumor burden1
• Single dose2
• Proprietary manufacturing process for enhanced potency of T cells
• Specialized medical centers
• Target requirements: stringent tumor selectivity, low, medium, high copy numbers

TCR Bispecifics (TCER®)

• Off-the-shelfbiologic 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

Differentiated positioning of ACTengine® vs. TCER® based on patient population, medical need and geographical reach

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,	5
80% (4/5) confirmed ORR in Phase 1b patients only; 2 Repeat dosing without re-manufacturing possible