ASX ANNOUNCEMENTIMUGENE ANNOUNCES A$80 MILLION INSTITUTIONAL...

ASX ANNOUNCEMENTIMUGENE ANNOUNCES A$80 MILLION INSTITUTIONAL PLACEMENT_____________________________________________________________________________________• Firm commitments received for an $80 million placement at $0.20 per share, representing a 11.1% discount to last close on 9 September 2022• The company will have a pro-forma cash position of ~A$1751 million on completion of the Placement, funding the company’s broad clinical pipeline of three platform technologies• Shares issued under the placement represent a modest 6.8% of existing ordinary shares• The Placement participants are two leading institutional investors with significant healthcare andbiotechnology experience• Placement participants will receive 1 free option for every 2 shares received in the offer – theoptions are unlisted with an exercise price of $0.33 and expiration of 31 March 2026SYDNEY, Australia, September 13, 2022: Imugene Limited (ASX:IMU), a clinical stage immuno- oncology company, is pleased to announce a Placement of A$80 million at $0.20 per share. The Placement is being subscribed by two leading institutional investors with significant healthcare and biotechnology expertise.The funds raised under the Placement, in addition to the Company’s existing cash position, will provide an extended runway for Imugene’s deep pipeline of clinical programmes. Partnering and licensing opportunities and R&D rebates have the potential to extend the runway further.Imugene Founder and Executive Chairman Paul Hopper said: “This capital raising ensures a long runway for the existing programmes while also providing flexibility to add complementary assets should attractive opportunities present. The ability to introduce two high calibre institutional investors onto the share register following what has been a volatile period across biotechnology indices speaks to the quality of the Company’s unique clinical platforms. With minimal dilution to existing shareholders of only 6.8%, and with such a definitive statement of investment support for Imugene by two prominent funds, the Board believes we have a significant opportunity to maximise value for all Imugene shareholders.”