PRELIMINARY NOTE The unaudited condensed Consolidated Financial Statements for the three and nine-month period ended

condensed Consolidated Financial Statements for the three and nine-month period ended September 30, 2020, included herein, have been prepared in accordance with International Financial Reporting Standards ( IFRS ) as issued by the

International Accounting Standards Board ( IASB ). The Consolidated Financial Statements are presented in euros. All references in this interim report to $, and U.S. dollars mean U.S. dollars and all references to

and euros mean euros, unless otherwise noted.

This interim report, including Management s Discussion and

Analysis of Financial Condition and Results of Operations, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act. All statements other than

present and historical facts and conditions contained in this interim report, including statements regarding our future results of operations and financial position, business strategy, plans and our objectives for future operations, are

forward-looking statements. When used in this interim report, the words anticipate, believe, can, could, estimate, expect, intend, is designed to,

may, might, plan, potential, predict, objective, scheduled, should, will or the negative of these and similar expressions identify

forward-looking statements. Actual results, performance or events may differ materially from those projected in any forward-looking statement. Factors that may cause actual results to differ from those in any forward-looking statement include,

without limitation: the severity and duration of the evolving COVID-19 pandemic and the resulting impact on macro-economic conditions; inconclusive clinical trial results or clinical trials failing to achieve

one or more endpoints, early data not being repeated in ongoing or future clinical trials, failures to secure required regulatory approvals, disruptions from failures by third-parties on whom we rely in connection with our clinical trials, delays or

negative determinations by regulatory authorities, changes or increases in oversight and regulation; increased competition; manufacturing delays or problems, inability to achieve enrollment targets, disagreements with our collaboration partners or

failures of collaboration partners to pursue product candidates, legal challenges, including product liability claims or intellectual property disputes, commercialization factors, including regulatory approval and pricing determinations, disruptions

to access to raw materials or starting material, proliferation and continuous evolution of new technologies; disruptions to Immatics business; management changes; dislocations in the capital markets; and other important factors described under

Risk Factors and Cautionary Note Regarding Forward-Looking Statements in our Registration Statement on Form F-1 filed with the Securities and Exchange Commission on July 31, 2020

(the Registration Statement ) and under Risk Factors in this interim report. As a result of these factors, we cannot assure you that the forward-looking statements in this interim report will prove to be accurate. Furthermore,

if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or

any other person that we will achieve our objectives and plans in any specified time frame or at all. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise,

except as required by law. The Immatics logo

, XPRESIDENT , ACTengine , ACTallo , ACTolog , XCEPTOR , TCER ,

AbsQuant , IMADetect and other trademarks or service marks of Immatics appearing in this interim report are the property of the

company. Solely for convenience, some of the trademarks, service marks, logos and trade names referred to in this interim report are presented without the and symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors

to these trademarks, service marks and trade names. This interim report contains additional trademarks, service marks and trade names of others. All trademarks, service marks and trade names appearing in this interim report are, to our knowledge,

the property of their respective owners. We do not intend our use or display of other companies trademarks, service marks, copyrights or trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

As used in this interim report, the terms Immatics, we, our, us, the Group and

the Company refer to Immatics N.V. and its subsidiaries, taken as a whole, unless the context otherwise requires. The unaudited condensed consolidated financial statements and Management s Discussion & Analysis of Financial

Condition and Results of Operations in this interim report are related to Immatics N.V. and its German subsidiary Immatics Biotechnologies GmbH as well as its U.S. subsidiary Immatics U.S. Inc.

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

The accompanying notes are an integral part of these condensed consolidated financial statements.

Unaudited Condensed Consolidated Statement of Loss of Immatics N.V.

The accompanying notes are an integral part of these condensed consolidated financial statements.

Unaudited Condensed Consolidated Statement of Comprehensive Loss of Immatics N.V.

The accompanying notes are an integral part of these condensed consolidated financial statements.

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

The accompanying notes are an integral part of these condensed consolidated financial statements.

Unaudited Condensed Consolidated Statement of Changes in Shareholders equity (deficit) of Immatics

The accompanying notes are an integral part of these condensed consolidated financial statements.

Notes to the Unaudited Condensed Consolidated Financial Statements of Immatics N.V.

1. Group information

Immatics N.V, together with its

German subsidiary Immatics Biotechnologies GmbH and its U.S. subsidiary, Immatics US Inc., ( Immatics or the Group ) is a biotechnology group that is primarily engaged in the research and development of T cell redirecting

immunotherapies for the treatment of cancer. Immatics N.V., a Dutch public limited liability company, was converted on July 1, 2020 from Immatics B.V., a Dutch company with limited liability. Immatics Biotechnologies GmbH and Immatics US Inc.

became subsidiaries of Immatics N.V. as part of the ARYA Merger (defined below) on July 1, 2020. Immatics N.V is registered with the commercial register at the Netherlands Chamber of Commerce under RSIN 861058926 with a corporate seat in

Amsterdam and is located at Paul-Ehrlich Str. 15 in 72076 T bingen, Germany. Prior to July 1, 2020, Immatics N.V. was a shell company with no active trade or business or subsidiaries and all relevant assets and liabilities as well as

income and expenses were borne by Immatics Biotechnologies GmbH and its U.S. subsidiary Immatics US, Inc. Therefore, the Group s consolidated financial statements are a continuation of the financial statements of Immatics Biotechnologies GbmH

with the exception that the accounting acquirer s legal capital is adjusted to reflect the legal capital of the legal parent. The comparable financial results for the year ended December 31, 2019 as well as the three and nine months ended

September 30, 2019 were not restated and reflect the consolidated financial statements of Immatics Biotechnologies GmbH.

These interim condensed

consolidated financial statements of the Group for the three and nine months ended September 30, 2020 were authorized for issue by the Management Board of Immatics N.V. on December 1, 2020.

2. Significant events and changes in the current reporting period

The Group was affected by the following events or transactions during the nine months ended September 30, 2020.

On March 17, 2020, Immatics entered

into a definitive merger agreement with ARYA Sciences Acquisition Corp. ( ARYA ), a special purpose acquisition company sponsored by Perceptive Advisors. The transaction closed on July 1, 2020. The merger ( ARYA Merger ) was

effectuated as follows:

As part of the Reorganization, the minority shareholder in Immatics US, Inc., MD Anderson Cancer Center ( MD Anderson ) exchanged its

interest in Immatics US, Inc. for ordinary shares in the share capital of Immatics N.V. ( MD Anderson Share Exchange ). This resulted in a decrease to non-controlling interest of

0.5 million, with corresponding increases to share capital and share premium.

As part of the transaction, former shareholders of ARYA

received 17,968,750 shares of Immatics N.V. and 7,187,500 warrants ( Immatics Warrants ) to purchase ordinary shares of Immatics N.V. In exchange, Immatics received the net assets held by ARYA, which had a fair value of

124.9 million upon closing of the transaction on July 1, 2020. The net assets included 128.8 million of cash and cash equivalents held in ARYA s trust account and current liabilities of 3.9 million.

In accordance with IFRS 2, the difference between the fair value of the net assets contributed by ARYA and the fair value of equity instruments

provided to former ARYA shareholders is treated as an expense, resulting in a 152.8 million Share listing expense classified within the Financial result (See Note 8).

Both the ARYA Merger and PIPE Financing closed as of

July 1, 2020. Upon consummation of the transactions, Immatics N.V. became a publicly traded corporation at the Nasdaq Capital Market under the ticker IMTX. The Immatics Warrants are traded under the ticker IMTXW. Immatics incurred

incremental transaction costs directly attributable to the ARYA Merger and the PIPE Financing of 8.6 million, which it netted against the equity proceeds as a reduction in share premium.

Immatics also amended existing share-based compensation agreements held by employees of Immatics GmbH prior to the ARYA Merger (See Note 13), in addition to

making additional cash and share-based payments to key management personnel (See Note 14).

In December 2019, a novel strain of coronavirus ( COVID-19 ) emerged in Wuhan, China. While initially

concentrated in China, spread of the outbreak is now worldwide. On January 30, 2020, the World Health Organization declared the outbreak a pandemic and a global emergency. In response, many countries and businesses instituted travel

restrictions, quarantines, and office closures. The extent of the pandemic and governmental responses may impact our ability to obtain raw materials and equipment used for research and development, obtain sufficient additional funds to finance our

operations, and conduct clinical trials, any of which could materially and adversely affect our business.

Management continues to monitor the situation

and enacted significant measures to protect the Group s supply chain, employees, and the execution of clinical trials. To date, the pandemic has resulted in a slowdown in activities related to the Group s laboratory operations and at some

of its suppliers. The ongoing spread of COVID-19 may also negatively impact the Group s ability to conduct clinical trials, including potential delays and restrictions on the Group s ability to

recruit and retain patients, principal investigators and healthcare employees. COVID-19 could also affect the operations of contract research organizations, which may also result in delays or disruptions in

the supply of product candidates. Immatics continues to expand its clinical programs with additional clinical trial sites opening in the U.S. and in Europe.

Due to COVID-19, the Group has also experienced delays in research activities performed under its collaboration

agreements. Consequently, the Group recognized less revenue under these agreements during the first three quarters of 2020 than previously planned. Management believes the declines in revenue associated with the delay in research activities are

largely temporary, as the revenue is primarily associated with non-refundable upfront payments recognized on a cost-to-cost

basis. COVID-19 may continue to impact the timing and amount of revenue recognized under these agreements in the future.

3. Significant accounting policies

The interim condensed consolidated financial statements of the Group as of September 30, 2020 and for the three and nine months

ended September 30, 2020 and 2019 have been prepared in accordance with International Accounting Standard 34 ( Interim Financial Reporting ), as issued by the International Accounting Standards Board ( IASB ). The interim

condensed consolidated financial statements should be read in conjunction with the annual financial statements for the year ended December 31, 2019, which have been prepared in accordance with International Financial Reporting Standards

( IFRS ) as issued by the IASB, taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee ( IFRS IC ).

The interim condensed consolidated financial statements are presented in Euros. Amounts are stated in thousands of Euros, unless otherwise indicated.

The accounting policies adopted in the preparation of the interim condensed consolidated financial

statements are consistent with those followed in the preparation of the Group s annual consolidated financial statements for the year ended December 31, 2019. The new and amended standards and interpretations applied for the first time as

of January 1, 2020, as disclosed in the notes to the consolidated financial statements for the year ended December 31, 2019, had no impact on the interim condensed consolidated financial statements of the Group for the three and nine

months ended as of September 30, 2020.

The Group had a non-controlling interest, representing approximately

3.96% of the Group s Immatics US, Inc. subsidiary as of December 31, 2019. On July 1, 2020 and as part of the ARYA Merger, the non-controlling interest of MD Anderson in Immatics US, Inc. was

exchanged for ordinary shares in Immatics N.V.

As of September 30, 2020, Immatics is a counterparty in foreign exchange forward contracts. The

contracts do not meet the criteria to apply hedge accounting and are therefore separately accounted for and measured at fair value. Any change in the fair value is accounted for within the Statement of Loss.