P R E S S R E L E A S E Immatics Announces Proposed Public Offering Houston, Texas and Tuebingen, Germany

P R E S S R E L E A S E

Announces Proposed Public Offering

Texas and Tuebingen, Germany, January 17, 2024 - Immatics N.V. (NASDAQ: IMTX, "Immatics"), a clinical-stage

biopharmaceutical company active in the discovery and development of T cell-redirecting cancer immunotherapies, announced today the commencement

of an underwritten public offering of its ordinary shares. The offering is subject to market conditions and other factors, and there can

be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Jefferies, BofA Securities and Leerink Partners

are acting as joint book-running managers for the offering.

A registration statement relating to the securities

has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective on August 9, 2021.

The offering will be made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement related

to the offering has been filed with the SEC and is available free of charge by visiting EDGAR on the SEC's website at www.sec.gov.

Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained free of charge

This press release shall not constitute an offer

to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction

in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such

state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration

requirements of the Securities Act of 1933, as amended.

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.

Forward-Looking Statements

Certain statements in this press release may be

considered forward-looking statements, including statements regarding the proposed securities offering. 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 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. Immatics

undertakes no duty to update these forward-looking statements.

For more information,