Company: NCNA
Filing Date: 2025-04-24
Form Type: F-1
Source: 0001193125-25-092131
Chunk: 76

Company: NuCana plc
Filing Date: 2025-04-24
Form: F-1
Chunk 76
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 of making the cash payment
otherwise contemplated to be made to us upon such exercise in payment of the aggregate exercise price, subject to the Mandatory Nominal Exercise Price, the holder may elect instead to receive upon such exercise (either in whole or in part) the net
number of ADSs determined according to a formula set forth in the Pre-Funded Warrants.

Transferability

Subject to applicable laws, a Pre-Funded Warrant may be transferred at the option of
the holder upon surrender of the Pre-Funded Warrant to us together with the appropriate instruments of transfer.

Exchange Listing

There is no trading
market available for the Pre-Funded Warrants on any securities exchange or nationally recognized trading system. We do not intend to list the Pre-Funded
Warrants on any securities exchange or nationally recognized trading system.

Rights as an ADS Holder

Except as otherwise provided in the Pre-Funded Warrants, the holders of the Pre-Funded Warrants do not have any voting rights, dividends or other rights as a holder of our ordinary shares.

Fundamental Transactions

In the event of
a fundamental transaction, as described in the Pre-Funded Warrants and generally including any reorganization, recapitalization or reclassification of our ordinary shares, the sale, transfer or other
disposition of all or substantially all of our properties or assets, our consolidation or merger with or into another person, the acquisition of more than 50% of our outstanding ordinary shares, or any person or group becoming the beneficial owner
of more than 50% of the voting power represented by our outstanding ordinary shares, the holders of the Pre-Funded Warrants will be entitled to receive upon exercise of
the Pre-Funded Warrants the kind and amount of securities, cash or other property that the holders would have received had they exercised the Pre-Funded
Warrants immediately prior to such fundamental transaction.

Waivers and Amendments

The Pre-Funded Warrants may be modified or amended, or the provisions thereof waived with the written
consent of us and the respective holder.

Listing

Our ADSs are listed on The Nasdaq Capital Market under the symbol “NCNA.”

54

TAXATION Material U.S. Federal Income Tax Considerations The following discussion describes the material U.S. federal income tax considerations to U.S. Holders (as defined below) under present law of the purchase, ownership and disposition of the ADSs, the Pre-FundedWarrants, and the Warrants. This discussion is based on the U.S. Internal Revenue