Immatics Announces Full Year 2025 Financial Results and Business Update Anzu-cel (anzutresgene autoleucel, IMA203) PRAME Cell Therapy: Global, randomized, controlled Phase 3 trial, SUPRAME, in previously tr

amounts converted using the exchange rate published by the European Central Bank in effect as of December 31, 2025 (1 EUR = 1.175 USD).

Texas and Tuebingen, Germany, March 5, 2026 - Immatics N.V. (NASDAQ: IMTX, "Immatics"

or the "Company"), a clinical-stage biopharmaceutical company and the global leader in precision targeting of PRAME, today

provided a business update and reported financial results for the quarter and full year ended December 31, 2025.

a year of strong execution and data updates across our entire PRAME franchise, Immatics is entering 2026 with multiple high-impact milestones

ahead, including advancing our PRAME cell therapy, anzu-cel, towards approval," said Harpreet Singh, Ph.D., Chief Executive Officer

and Co-Founder of Immatics. "In parallel, we strive to expand our reach to more patients with our second-generation PRAME cell

therapy, IMA203CD8, with meaningful data in gynecologic cancers expected this year, and with our PRAME bispecific IMA402, where we plan

to report expanded clinical data supporting initiation of indication-specific expansion cohorts. In addition, we look forward to opening

a new therapeutic avenue by initiating a combination study with IMA402 and IMA401, our MAGEA4/8 bispecific, in lung cancer. Above all,

we remain focused on translating this positive momentum into transformative outcomes for patients with cancer."

and Subsequent Company Progress

PRAME Cell Therapy - First Market Entry in Advanced Melanoma

Anzu-cel (anzutresgene

autoleucel), previously called IMA203, is Immatics' lead PRAME cell therapy and is expected to be the Company's first PRAME

therapy to enter the market in advanced melanoma. The current addressable patient population for anzu-cel's first target indications,

second-line or later (2L) advanced cutaneous melanoma as well as metastatic uveal melanoma includes ~9,000 patients 2.

SUPRAME, for anzu-cel (IMA203) in previously treated, advanced cutaneous melanoma

Refers to PRAME+/HLA-A*02:01+ patients per year in the U.S. and EU5 in 2025; Source: Clarivate Disease Landscape

Includes all benefits of Breakthrough Therapy Designation.

trial for anzu-cel (IMA203) PRAME cell therapy in patients with advanced melanoma

trial for anzu-cel (IMA203) PRAME cell therapy and Moderna's PRAME cell therapy enhancer, mRNA-4203, in patients with solid tumors

Cell Therapy (GEN2) - Expansion to all Advanced PRAME Cancers

the Company's second-generation PRAME cell therapy product candidate being developed with the goal of expanding into all advanced

PRAME cancers. Given its enhanced pharmacology profile, once the target dose is reached, the Company intends to pursue the clinical development

of this product candidate with a tumor-agnostic approach, starting with gynecologic cancers.

PRAME Franchise - Bispecifics

IMA402 PRAME Bispecific - Expansion

to Earlier-Line PRAME Cancers

PRAME opportunity to earlier-line PRAME cancers, the Company is developing its off-the-shelf, next-generation, half-life extended TCR

bispecific, IMA402, as a monotherapy or in combination with standard of care, with a focus on melanoma and gynecologic cancers. In addition,

Immatics is exploring the potential combination of IMA402 with IMA401 MAGEA4/8 bispecific in squamous non-small cell lung cancer (sqNSCLC)

and potentially other solid tumor indications.

IMA401 MAGEA4/8 Bispecific -

Maximizing the Potential of Bispecifics Combinations

Moderna Collaboration Expansion

- TCER Multiplexing Strategy

Year 2025 Financial Results

Cash and cash equivalents, as well as other financial assets, total $551.4 million1 ( 469.3 million) as of December 31,

2025, compared to $710.3 million1 ( 604.5 million) as of December 31, 2024. The decrease is mainly due to $234.9 million

( 199.9 million) operational cash usage, principally as a result of ongoing research and development activities, as well as unrealized

foreign exchange translational losses of $41.8 million1 ( 35.6 million), which do not impact the expected cash reach,

partially offset by the net proceeds of the public offering of $117.9 million1 ( 100.3 million).

Total revenue, consisting of revenue from collaboration agreements, was $56.8 million1 ( 48.3 million) for the year ended

December 31, 2025, compared to $183.1 million1 ( 155.8 million) for the year ended December 31, 2024. The decrease is

mainly the result of the one-time non-cash revenue associated with the acceleration of deferred revenue recognized due to the termination

of the IMA401 and ACTallo collaborations by Bristol Myers Squibb during the year ended December 31, 2024.

Development Expenses: R&D expenses were $216.0 million1 ( 183.8 million) for the year ended December 31, 2025,

compared to $174.0 million1 ( 148.1 million) for the year ended December 31, 2024. The increase mainly resulted from

costs associated with the advancement of the product candidates in clinical trials.

General and Administrative

Expenses: G&A expenses were $60.2 million1 ( 51.2 million) for the year ended December 31, 2025, compared to

$54.5 million1 ( 46.4 million) for the year ended December 31, 2024. The increase is driven by costs associated with

early commercial activities supporting the planned market launch of anzu-cel (IMA203).

Loss: Net loss was $230.8 million1 ( 196.4 million) for the year ended December 31, 2025, compared to a net profit

of $17.9 million1 ( 15.2 million) for the year ended December 31, 2024. The net loss mainly resulted from lower non-cash

revenue recognized from the acceleration of deferred revenue recognized due to the termination of the collaboration agreements in the

year ended December 31, 2024, and higher costs associated with the planned advancement of the Company's PRAME franchise in clinical

Full financial statements

can be found in our Annual Report on Form 20-F filed with the Securities and Exchange Commission (SEC) on March 5, 2026, and published

on the SEC website under www.sec.gov.

list of events and presentations, visit: https://investors.immatics.com/events-presentations.

expressed in more than 50 cancers. Immatics is the global leader in precision targeting of PRAME and has the broadest PRAME franchise

with the most PRAME indications and modalities. The Immatics PRAME franchise currently includes three product candidates, two therapeutic

modalities and two combination therapies that target PRAME: anzu-cel (anzutresgene autoleucel, IMA203) PRAME cell therapy, IMA203CD8

PRAME cell therapy (GEN2), IMA402 PRAME bispecific as monotherapy and in combination with an immune checkpoint inhibitor, as well as

anzu-cel in combination with Moderna's PRAME cell therapy enhancer.

Immatics is committed

to making a meaningful impact on the lives of patients with cancer. We are the global leader in precision targeting of PRAME, a target

expressed in more than 50 cancers. Our cutting-edge science and robust clinical pipeline form the broadest PRAME franchise with the most

PRAME indications and modalities, spanning TCR T-cell therapies and TCR bispecifics.

to use its website www.immatics.com as a means of disclosing material non-public information. For regular updates, you can

statements in this press release 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, outcome and design of clinical trials, the nature of clinical trials (including whether such clinical

trials will be registration-enabling), the timing and outcomes of IND, CTA or BLA filings, estimated market opportunities of 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",

"plan", "target", "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 the Company's Annual Report

on Form 20-F and other filings with the Securities and Exchange Commission (SEC). Nothing in this press release 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. All the scientific

and clinical data presented within this press release 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.

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