Forward-Looking Statements

The purpose of the presentation is to provide an update of the business of Immutep Limited ACN 009 237 889 (ASX:IMM; NASDAQ:IMMP). These slides have been prepared as a presentation aid only and the information they contain may require further explanation and/or clarification. Accordingly, these slides and the information they contain should be read in conjunction with past and future announcements made by Immutep and should not be relied upon as an independent source of information. Please refer to the Company's website and/or the Company's filings to the ASX and SEC for further information.

The views expressed in this presentation contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information.

Any forward-looking statements in this presentation have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans, expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside Immutep's control. Important factors that could cause actual results to differ materially from assumptions or expectations expressed or implied in this presentation include known and unknown risks. Because actual results could differ materially to assumptions made and Immutep's current intentions, plans, expectations and beliefs about the future, you are urged to view all forward-looking statements contained in this presentation with caution.

This presentation should not be relied on as a recommendation or forecast by Immutep. Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

This presentation is authorised for release by the CEO of Immutep Limited.

Immutep Highlights

Leader in LAG-3 immunotherapyFirst-in-Class Lead Candidate

Validation through partnershipsGlobal presence; strong

IP/balance sheetLarge opportunity & multiple catalysts ahead

LAG-3 pure play with three clinical-stage assets and two preclinical programs designed to fight cancer & autoimmune diseases.

Eftilagimod alpha (efti), a unique immune system activator, has compelling data with good safety across several clinical trials.*

Multiple partnerships and collaborations with large pharma.

Global presence and strong IP across diversified LAG-3 portfolio. Well-funded with cash runway to early 2026.

Later-stage clinical programs are in large addressable markets (e.g., lung, breast, and head & neck cancer**). Multiple data readouts in '24.

* (1) Combining the antigen-presenting cell activator eftilagimod alpha (soluble LAG-3) and pembrolizumab: overall survival data from the 1st line non-small cell lung cancer (NSCLC) cohort of TACTI-002 - ESMO 2023; (2) Biomarker and multivariate analyses results from AIPAC: A phase IIb study comparing efti to placebo in combination with weekly paclitaxel in HR+ HER2- metastatic breast carcinoma. ESMO - May 2022; (3) Results from a Phase II study of efti and pembrolizumab in patients with PD-L1 unselected metastatic 2nd line head and neck squamous cell carcinoma (HNSCC) SITC 2021.

**Global market estimates for NSCLC, HNSCC, and MBC are $24BB (current), $3.5BB (by 2025) and $12.7BB (by 2024), respectively, with NSCLC expected to double to $48 billion by 2031, based on intelligence data from GlobalData and Nature Reviews Drug Discovery 22, 264-265 (23 Jan 2023).

LAG-3 Newest Entrant to Immuno-Oncology (IO) Landscape

Immune Checkpoint Discovery and Clinical Studies*

Regulatory Approval Timeline of Immuno-Oncology (IO) Therapies**

Numberofstudies

YERVOY (anti-CTLA-4)

OPDIVO &

KEYTRUDA

OPDIVO &

YERVOY

& Chemo

Relatlimab

(anti-LAG-3)

OPDIVO (anti-PD-1)

KEYTRUDA (anti-PD-1)

2011

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

2023

LAG-3 discovered in 1990 by Immutep's Chief Scientific Officer, Dr. Frédéric Triebel

The immune system's ability to fight cancer has led to regulatory approval of IO therapies targeting the immune checkpoints CTLA-4, PD-1, and most recently LAG-3

*Checkpoint Inhibitors: Applications for Autoimmunity, Springer, September 2017 Current Allergy and Asthma Reports 17(10) DOI:10.1007/s11882-017-0740-z. ** YERVOY (ipilimumab), OPDIVO (nivolumab), KEYTRUDA (pembrolizumab), OPDUALAG (nivolumab + relatlimab)

Pioneering LAG-3 Immunotherapy Portfolio

Immutep has multiple first-in-class therapeutics designed around the interaction of MHC Class II molecules on antigen-presenting cells (APC) and LAG-3 on T-cells to fight cancer & autoimmune disease

Antigen-presenting cells (APC)

Targeting MHC Class II on APCs#

Targeting LAG-3 on T cells

Oncology Immune Stimulation

Autoimmune Disease Immune Suppression

# MHC Class II = Major Histocompatibility Complex Class II. * LAG525 (leramilimab) is out-licensed to Novartis and GSK'781 is out-licensed to GSK. The clinical-stage asset GSK'781 is being transitioned back to Immutep as the licensing agreement has been terminated with an effective date of 30 May 2024.

Deep LAG-3 Pipeline in Oncology & Autoimmune Diseases

Program

Indication

1L Head & Neck Squamous Cell Carcinoma (HNSCC)

1L Non-Small Cell Lung Cancer (NSCLC),

2L HNSCC, PD-X Refractory 2L NSCLC

Eftilagimod Alpha Soluble LAG-3 Protein & MHC Class II agonist

1L Non-Squamous NSCLC

Anti-LAG-3 Small Molecule

Urothelial Cancer

Soft Tissue Sarcoma

HR+/HER2- Metastatic Breast Cancer & TNBC

Metastatic Breast Cancer & Solid TumorsUndisclosed

EFTISARC-NEO | Efti+Pembro+Radiotherapy §

AIPAC-003 | Efti+Paclitaxel

Efti+Paclitaxel and Efti+Pembrolizumab #

Preclinical

Phase I

Phase II

Late Stage*

Efti China RightsGlobal Rights

Global Rights

Global Rights

Information in pipeline chart current as of February 2024. For EOC's China rights, Immutep may receive undisclosed milestones plus royalties; LAG525 - ClinicalTrials.gov (for Novartis' global rights, Immutep may receive milestones plus royalties); GSK2831781 - ClinicalTrials.gov, Phase II in Ulcerative Colitis discontinued. The clinical-stage asset GSK'781 is being transitioned back to Immutep as the licensing agreement has been terminated with an effective date of 30 May 2024. * Late stage refers to active Phase IIb clinical trials or more clinically advanced clinical trials; # Conducted by EOC in China. Immutep has no control over either the trials. § Investigator Initiated Trials controlled by lead investigator & therefore Immutep has no control over this clinical trial; a In combination with KEYTRUDA®; b In combination with BAVENCIO®.

A proprietary soluble LAG-3 protein and first-in-class MHC Class II agonist

Efti: A Soluble LAG-3 'Key' to Stimulate Immune System via MHC II

MHC Class II

Efti's unique activation of APCs through MHC Class II agonism drives a broad, sustained adaptive/innate immune response to fight cancer*

* In clinical trials, including monotherapy and in combination with anti-PD-(L)1 therapies and with chemotherapy, efti has led to significant and sustained increases in anti-tumor cells and chemokines / cytokines including those listed in the graphic. MHC Class II = Major Histocompatibility Complex Class II. APC = Antigen-Presenting Cell.

Systemic Immune Effect Leading to Positive Clinical Outcomes

Encouraging data from efti in combination with IO or chemotherapy across multiple oncology indications

Efti's subcutaneous delivery drives systemic anti-cancer immune response

Efti + Anti-PD-1 TherapyEfti + Anti-PD-L1 TherapyEfti + Chemotherapy

* Based upon clinical data from TACTI-002, INSIGHT-004, TACTI-mel and AIPAC trials.

Differentiated Approach in Oncology

Efti has complementary action with immune checkpoint inhibitors (ICIs) like anti-PD-(L)1 therapy

Many ICI combinations with anti-PD-(L)1 therapy focus on T cells alone and just target different immune checkpoints on these T cells

Efti's unique activation of dendritic cells, which engages the adaptive & innate immune system, complements anti-PD-(L)1 therapy that targets T cells

PD-1

Anti-PD-1 antibody

Anti-CTLA-4 antibody

or

Anti-TIGIT antibody

or

Anti-LAG-3 antibody

  • • Efficacy has been mostly limited to "hot" tumors (e.g. high PD-L1 expression) where anti-PD-(L)1 monotherapy is already effective

    • • Efficacy seen across "hot", "tepid", and "cold" tumors (e.g. high, low, and negative PD-L1 expression) with efti and anti-PD-(L)1

  • • Toxicity increases for IO-IO combinations that block two immune checkpoints versus one checkpoint on these T cells1,2

  • • Additionally, efti in combination with anti-PD-(L)1 has a favourable safety profile

10

1. Increased rate of high-grade treatment-related adverse events: 59% in patients treated with ipilimumab (anti-CTLA-4) plus nivolumab (anti-PD-1) versus 23% in patients treated with nivolumab and 28% in patients treated with ipilimumab - Larkin et. al. - Five-Year Survival with Combined Nivolumab and Ipilimumab in Advanced Melanoma, N Engl J Med 2019; 381:1535-1546 DOI 10.1056/NEJMoa1910836. 2. Grade 3 or 4 treatment-related adverse events occurred in 18.9% of patients in the relatlimab-nivolumab group and in 9.7% of patients in the nivolumab group.17.7% of patients in the relatlimab- nivolumab group discontinued treatment due to drug-related adverse events as compared to 8.9% in the nivolumab group. - Tawbi et. al. Relatlimab and Nivolumab versus Nivolumab in Untreated Advanced Melanoma, N Engl J Med 2022; 386:24-34, DOI: 10.1056/NEJMoa2109970

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Immutep Ltd. published this content on 26 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2024 12:11:01 UTC.