Immunocore : Corporate Presentation – January 2023

Transformative Medicines for Patients

JANUARY 2023

Forward-looking statement

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "can," "will," "believe," "expect," "plan," "anticipate," "potential" and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. All statements, other than statements of historical facts, included in this presentation are forward-looking statements. These statements include, but are not limited to, statements regarding the marketing, therapeutic potential, and expected clinical benefits, including extended overall survival benefit and reduction in circulating tumor DNA, of Immunocore's products and product candidates; expectations regarding the development of Immunocore's pipeline and the design, progress, timing, enrollment, scope, expansion and results of Immunocore's existing, planned and other future clinical trials and IND enabling studies, including the targeted delivery of IND for three new product candidates, the expansion of, and timing for reporting data from the monotherapy and combination arms of, the PRAME-A02 trial and the timing for reporting data from the single ascending dose portion of the IMC-M113V Phase 1 HIV clinical trial; the ability of TCR therapeutics to target 90% of the human proteome; statements regarding the durability, efficacy and toleration of Immunocore's product candidates; expectations regarding the commercialization of KIMMTRAK including potential growth opportunities and trends and increasing access to KIMMTRAK; expectations regarding the value proposition of KIMMTRAK in metastatic uveal melanoma (mUM) and advanced melanoma; expectations regarding the potential market size and opportunity for Immunocore's products and product candidates, including statements wi th respect to potential patient population; expectations regarding the potential of PRAME-A02 to benefit a large number of patients; the Company's belief that IMC-R117C is potentially the first-in-classPIWIL1-targeted immunotherapy for colorectal and other gastrointestinal cancers; statements regarding the planned IND timing for IMC-R117C; expectations regarding future milestones; future development plans of tebentafusp and Immunocore's other product candidates; the ability to obtain and maintain regulatory approval for its products and product candidates; expectations regarding the sustained or potential commercial performance and uptake of KIMMTRAK and Immunocore's other product candidates, if approved; expectations regarding Immunocore's management of resources and expected cash runway; and preliminary unaudited net sales and cash and cash equivalents of KIMMTRAK and tebentafusp; and the validation of the ImmTAC platform.

These forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially and adversely from those expressed or implied by any forward-looking statements, many of which are beyond Immunocore's control. These include, without limitation, risks and uncertainties related to the impact of worsening macroeconomic conditions and the ongoing and evolving COVID-19 pandemic, the war in Ukraine or global geopolitical tension on Immunocore's business, strategy, clinical trials, financial position and anticipated milestones, including Immunocore's ability to conduct ongoing and planned clinical trials; Immunocore's ability to obtain and maintain regulatory approval of its product candidates; Immunocore's ability to obtain clinical supply of current or future product candidates or commercial supply of KIMMTRAK or any future approved products, including as a result of supply chain disruptions; Immunocore's ability to develop, manufacture and commercialize its product candidates; Immunocore's ability and plans to launch, market and sell KIMMTRAK or any future approved products, to continue to establish and expand a commercial infrastructure; Immunocore's ability to

successfully expand the approved indications for KIMMTRAK, or obtain marketing approval for KIMMTRAK in additional geographies in the future; the delay of any current or planned clinical trials, whether due to the COVID- 19 pandemic, patient enrollment delays or otherwise; unexpected safety or efficacy data observed during preclinical studies or clinical trials and Immunocore's ability to successfully demonstrate the safety and efficacy of its product candidates and gain approval of its product candidates on a timely basis, if at all; competition with respect to market opportunities; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials or future regulatory approval; Immunocore's ability to obtain, maintain and enforce intellectual property protection for KIMMTRAK or any product candidates it is developing; clinical trial site activation or enrollment rates that are lower than expected; Immunocore's need for and ability to obtain additional funding on favorable terms or at all, including as a result of worsening macroeconomic conditions such as rising inflation and interest rates, volatility in the capital markets and related market uncertainty; and the success of Immunocore's current and future collaborations, partnerships or licensing arrangements. These and other risks and uncertainties are described in greater detail in the section titled 'Risk Factors'; in Immunocore's filings with the Securities and Exchange Commission, including Immunocore's most recent Annual Report on Form 20-F, as supplemented by its most recent filings that Immunocore has made or may make with the SEC in the future. Such risks may be amplified by the COVID-19 pandemic and its potential impact on Immunocore's business and the overall global economy. Any forward-looking statements represent Immunocore's views only as of the date of this presentation and should not be relied upon as representing its views as of any subsequent date. Immunocore does not assume any obligation to update any forward-looking statements, except as may be required by law. In addition, as the reported net sales and cash and cash equivalents in this presentation are preliminary, have not been audited and are subject to change pending completion of our audited financial statements for the year ended December 31, 2022, it is possible that Immunocore or its independent registered public accounting firm may identify items that require Immunocore to make adjustments to the amount included in this presentation, and such changes could be material. Additional information and disclosures would also be required for a more complete understanding of Immunocore's financial position and results of operations as of December 31, 2022.

Certain information contained in this presentation relates to or is based on studies, publications, surveys, and other data obtained from third-party sources and Immunocore's own internal estimates and research. While Immunocore believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy, or completeness of, any information obtained from third-party sources.

KIMMTRAK™ is a trademark owned or licensed to Immunocore.

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We have written the next chapter in cancer treatment

	2017	2022
	2013
2011	Cell	T Cell Receptor
	(TCR) Therapy
1997	Therapy
Antibody-Drug	Off-the-shelf bispecific

Conjugate	T cell engagers
Immunotherapy

1949

Targeted

Therapy

Chemotherapy

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Harnessing the immune system to fight disease with targeted, off-the-shelf, bispecific, soluble T cell receptors (TCRs)

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Delivering leading bispecific TCR pipeline

Multiple candidates in oncology and infectious diseases

	Candidate	Target	Indication	IND-enabling	Phase 1	Phase 2	Phase 3	Approved
			Uveal melanoma
		gp100
	Tebentafusp		Advanced melanoma
			Multiple solid tumors	Monotherapy dose exploration
			Multiple solid tumors	Combinations w/ standards of care
			2L+ cutaneous melanoma
	IMC-F106C	PRAME-A02	PRR Ovarian*
Y
L O G			Advanced endometrial
O N C O
		2L+ NSCLC
	IMC-P115C	PRAME-A02-HLE	Multiple solid tumors
	IMC-T119C	PRAME-A24	Multiple solid tumors
	IMC-R117C	PIWIL1	Colorectal, gastric,
	pancreatic
	IMC-C103C1	MAGE-A4	Multiple solid tumors
INFECTIOUS DISEASES	IMC-I109V	Envelope	Hepatitis B Virus (HBV)
IMC-M113V2	Gag	Human Immunodeficiency
Virus (HIV)					New ImmTAC candidate

1. Developed under a co-development/co-promotion collaboration with Genentech; 2. Program is wholly owned, development costs being provided by the Bill & Melinda Gates Foundation (BMGF), Immunocore retains all development and commercialization rights in the developed world. * Platinum refractory or resistant serous ovarian carcinoma

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