Company: NCNA
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001193125-25-103135
Chunk: 90

Company: NuCana plc
Filing Date: 2025-04-29
Form: F-1/A
Chunk 90
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 that held our ordinary shares directly or indirectly through non-U.S. entities (including the
Company) as of the last day in such taxable year that the subsidiary was a CFC would

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generally be required to include in gross income as ordinary income its pro rata share of certain investment income of the CFC, regardless of whether that income was actually distributed to such
U.S. person (with certain adjustments). A “10% U.S. Shareholder” of a non-U.S. corporation includes any U.S. person that owns (or is treated as owning) directly, indirectly or constructively, stock
of the non-U.S. corporation possessing 10% or more of the total voting power or total value of such non-U.S. corporation’s stock. The legislative history under the
Tax Act indicates that this change was not intended to cause our non-U.S. subsidiaries to be treated as CFCs with respect to a 10% U.S. Shareholder that is not related to our U.S. subsidiary. However, it is
not clear whether the IRS or a court would interpret the change made by the Tax Act in a manner consistent with such indicated intent.

You are strongly urged to consult your own tax advisors to determine whether your ownership of the ADSs, the Pre-FundedWarrants, or the Warrants will cause you to become a 10% U.S. Shareholder and the impact of such a classification.

Information Reporting Requirements

If we are a PFIC for any taxable year during which a U.S. Holder holds the ADSs, the Pre-Funded
Warrants, or the Warrants, each such U.S. Holder generally will be required to file an annual information return on IRS Form 8621 containing such information as the U.S. Treasury Department may require. The failure to file IRS Form 8621 could result
in the imposition of penalties and the extension of the statute of limitations with respect to U.S. federal income tax.

The U.S. federal
income tax rules relating to PFICs are complex. U.S. Holders are urged to consult their tax advisors with respect to the purchase, ownership and disposition of the ADSs, the Pre-Funded Warrants, and the
Warrants, the availability of the mark-to-market election and whether making the election would be advisable in their particular circumstances, and the IRS information
reporting obligations with respect to the purchase, ownership and disposition of the ADSs, the Pre-Funded Warrants, and the