Company: NCNA
Filing Date: 2025-05-02
Form Type: F-1/A
Source: 0001193125-25-110310
Chunk: 80

Company: NuCana plc
Filing Date: 2025-05-02
Form: F-1/A
Chunk 80
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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 Code of 1986, as amended or the Code for purposes of this discussion, in effect as of the date of this prospectus and on U.S. Treasury Regulations in effect or, in some cases, proposed, as of the date of this prospectus, as well as judicial and administrative interpretations thereof available on or before such date. All of the foregoing authorities are subject to change, which change could apply retroactively and could affect the tax consequences described below. This discussion applies only to U.S. Holders that hold the ADSs, the Pre-FundedWarrants, and the Warrants as capital assets for U.S. federal income tax purposes. It does not purport to be a comprehensive description of all tax considerations that may be relevant to a decision to purchase the ADSs, the Pre-FundedWarrants, and the Warrants by any particular investor. In particular, this discussion does not address tax considerations applicable to a U.S. Holder that may be subject to special tax rules, including, without limitation, a dealer in securities or currencies, a trader in securities that elects to use a mark-to-marketmethod of accounting for securities holdings, banks, thrifts, or other financial institutions, an insurance company, a tax-exemptorganization, a person that holds the ADSs, the Pre-FundedWarrants, or the Warrants as part of a hedge, straddle or conversion transaction for tax purposes, a person whose functional currency for tax purposes is not the U.S. dollar, certain former citizens or residents of the United States or a person that owns directly, indirectly or constructively shares representing 10% or more of our shares by vote or value. Moreover, this description does not address the U.S. federal estate, gift, or alternative minimum tax consequences, or any state, local or non-U.S.tax consequences, of the acquisition, ownership and disposition of the ADSs, the Pre-FundedWarrants, or the Warrants. In addition, the discussion does not address tax consequences to an entity or arrangement treated as a partnership or other pass-through entity for U.S. federal income tax purposes that holds the ADSs, the Pre-Funded