Company: NCNA
Filing Date: 2025-05-02
Form Type: F-1/A
Source: 0001193125-25-110310
Chunk: 82

Company: NuCana plc
Filing Date: 2025-05-02
Form: F-1/A
Chunk 82
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, described below, applicable to dividends received by certain noncorporate U.S. Holders. As a result, the
creditability of non-U.S. withholding taxes (if any), and the availability of the reduced tax rate for dividends received by certain non-corporate U.S. Holders, each
described below, could be affected by actions taken by such parties or intermediaries. Accordingly, U.S. persons considering an investment in ADSs or Pre-Funded Warrants that, as described below, are generally
taxed in the same manner as a U.S. Holder of ADSs, should consult their own tax advisors as to the particular tax consequences applicable to them relating to the purchase, ownership and disposition of ADSs or
Pre-Funded Warrants, including the applicability of U.S. federal, state and local tax laws and non-U.S. tax laws.

You are urged to consult your tax advisors about the application of the U.S. federal income tax rules to your particular circumstances as well as the state, local, non-U.S.and other tax consequences of the purchase, ownership and disposition of the ADSs, the Pre-FundedWarrants, and the Warrants.

Pre-FundedWarrants

Although it is not entirely free from doubt, a Pre-Funded Warrant should be treated as the underlying
ADS, which generally will be treated as a U.S. Holder owning the underlying ordinary share represented by such ADS for U.S. federal income tax purposes and a U.S. Holder of a Pre-Funded Warrant should
generally be taxed in the same manner as a U.S. Holder of such an ADS, as described below. Accordingly, no gain or loss should be recognized (other than with respect to cash paid in lieu of a fractional share) upon the exercise of a Pre-Funded Warrant and, upon exercise, the holding period of a Pre-Funded Warrant should carry over to the ADS received. Similarly, the tax basis of the Pre-Funded Warrant should carry over to the ADS received upon exercise, increased by the exercise price per ADS. If a Pre-Funded Warrant expires without being exercised, the
U.S. Holder thereof should recognize a capital loss in an amount equal to such U.S. Holder’s tax basis in the Pre-Funded Warrant. This loss will be long-term capital loss if, at the time of the
expiration, the U.S. Holder’s holding period in the Pre-Funded Warrant is longer than one year. The deduct