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

condensed Consolidated Financial Statements for the three-month period ended March 31, 2023, included herein, have been prepared in accordance with International Accounting Standard 34 ( Interim Financial Reporting ), 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 statements that constitute forward-looking statements within the meaning of Section 21E of the Exchange Act and Section 27A of the Securities Act of 1933, as amended

(the Securities Act ). All statements other than statements of historical facts, including statements regarding our future results of operations and financial position, business and commercial strategy, potential market opportunities,

products and product candidates, research pipeline, ongoing and planned preclinical studies and clinical trials, regulatory submissions and approvals, research and development costs, timing and likelihood of success, as well as plans and objectives

of management for future operations are forward-looking statements. Many of the forward-looking statements contained in this interim report can be identified by the use of forward-looking words such as anticipate, believe,

could, expect, should, plan, intend, estimate, will and potential among others. Forward-looking statements are based on our management s beliefs and

assumptions and on information available to our management at the time such statements are made. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking

statements due to various factors, including, but not limited to macro-economic environment; 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 in our Annual Report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission on March 22, 2023 and those described in our other filings with the Securities and Exchange Commission.

Forward-looking statements speak only as of the date on which they were made. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our

control, you should not rely on these forward-looking statements as predictions of future events. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management

to predict all risk factors and uncertainties. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events, changed circumstances or

We own various trademark registrations and applications, and unregistered trademarks, including Immatics , XPRESIDENT , ACTengine ,

ACTallo , ACTolog , XCEPTOR , TCER , AbsQuant , IMADetect and our corporate logo. All other trade names,

trademarks and service marks of other companies appearing in this interim report are the property of their respective owners. Solely for convenience, the trademarks and trade names in this interim report may be referred to without the and symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the

fullest extent under applicable law, their rights thereto. We do not intend to use or display other companies trademarks and 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 US Inc.

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

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

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

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

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 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 of Immatics N.V.

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 ( Immatics

GmbH ) and Immatics US Inc. became wholly-owned subsidiaries of Immatics N.V. as part of the ARYA Merger on July 1, 2020.

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.

These interim condensed consolidated financial statements of the Group for the three months ended March 31, 2023, were authorized for issue by the Audit

Committee of Immatics N.V. on May 16, 2023.

2. Significant events and changes in the current reporting period

The following significant events or transactions occurred during the three months ended March 31, 2023.

Macroeconomic environment

Currently, multiple global

uncertainties are existing.

The conflict between Russia and Ukraine has resulted, and is expected to further result, in significant disruption,

instability and volatility in global markets, as well as higher energy and other commodity prices. Since the Company is not currently conducting any business or receiving any material services from vendors located in Russia or Ukraine, it does not

expect that the ongoing war will have a direct impact on its operations in the near term. However, the Company may be indirectly affected by price increases or certain policy changes, such as new tax legislation, economic sanctions and comparable

measures. A potential conflict between China and the United States in relation to the status of Taiwan could lead to additional instabilities.

three months ended March 31, 2023, Silicon Valley Bank and Credit Suisse, two large banks, as well as other smaller banks, were subject to liquidity problems. The Group does not hold deposits or securities with any of the affected banks,

especially SVB, Credit Suisse, First Republic and Signature Bank. While the banking system remained stable overall, we will continue to closely monitor the situation.

While there is currently no material direct risk identified for the Group from COVID-19, Immatics will continue to

closely monitor the effects of the pandemic as well.

3. Significant accounting policies

Basis of presentation

The interim condensed consolidated

financial statements of the Group as of March 31, 2023 and for the three months ended March 31, 2023 and 2022 have been prepared in accordance with International Accounting Standard 34 ( Interim Financial Reporting ), as issued

by the International Accounting Standards Board ( IASB ).

In accordance with IAS 34, the interim condensed consolidated financial statements do

not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group s annual financial statements for the year ended December 31, 2022, 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 ). In

these condensed notes to the consolidated financial statements, information is provided primarily on the items for which there have been significant changes compared with the consolidated financial statements of the Group for fiscal year 2022.

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

technical reasons, the information provided in these financial statements may contain rounding differences of +/- one unit.

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, 2022. The

new and amended standards and interpretations applicable for the first time as of January 1, 2023, as disclosed in the notes to the consolidated financial statements for the year ended December 31, 2022, had no impact on the interim

condensed consolidated financial statements of the Group for the three months ended March 31, 2023.

Estimates and assumptions have to be made in the interim consolidated financial statements as of

March 31, 2023. These have an impact on the amount and disclosure of the recognized assets and liabilities, income and expenses, and contingent liabilities. The estimates and judgments are basically unchanged from the circumstances described in

the consolidated financial statements of the Group for the fiscal year 2022. Developments deviating from this may result in the amounts that arise deviating from the original estimates. These possible developments are outside the sphere of influence

Revision of previously issued financial statements

During the preparation of the unaudited interim consolidated financial statements for the three and nine months ended September 30, 2022, the Group

identified an error in the presentation of Net foreign exchange differences and Effects of exchange rate changes on cash and cash equivalents in the statement of cash flows. The error resulted in a presentation of effects

from exchange rate changes on non-functional currency denominated cash and cash equivalents in Immatics N.V and Immatics Biotechnologies GmbH as operating cash flow instead of presentation as non-cash items in effects of exchange rate changes on cash and cash equivalents.

This error had no impact on the

Company s consolidated statements of financial position, of profit/(loss), of comprehensive income/(loss) and of consolidated statements of changes in equity. The Company assessed the materiality of these errors on the previously issued

consolidated financial statements and concluded that the errors were not material to any period presented. The impact of the revision of the previously issued financial statements is as follows:

4. Segment information

The Group manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Group s focus is on the

research and development of T cell redirecting immunotherapies for the treatment of cancer. The Chief Executive Officer is the chief operating decision maker who regularly reviews the consolidated operating results and makes decisions about the

allocation of the Group s resources.

5. Revenue from collaboration agreements

The Group currently earns revenue through strategic collaboration agreements with third party pharmaceutical and biotechnology companies. As of March 31,

2023, the Group had four strategic collaboration agreements in place after the collaboration with GSK plc ( GSK ) was terminated in 2022. Three of the four collaboration programs are still at

pre-clinical development stage and IMA401, which is subject of a collaboration with Bristol Myers Squibb ( BMS ) is in clinical development stage.

Revenue from collaboration agreements were realized with the following partners:

As of March 31, 2023, the Group has not recognized any milestone revenue under the collaboration

agreements, due to the scientific uncertainty of achieving the milestones or the successful commercialization of a product. As of March 31, 2023, Immatics had not received any milestone or royalty payments in connection with the collaboration