Company: NCNA
Filing Date: 2025-04-04
Form Type: DRS
Source: 0000950123-25-003335
Chunk: 16

Company: NuCana plc
Filing Date: 2025-04-04
Form: DRS
Chunk 16
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 the ADSs underlying such Pre-Funded Warrants and Warrants. Upon exercise of the Pre-Funded Warrants, Series A Warrants and Series B
Warrants, as applicable,

the holders will be entitled to exercise the rights of an ADS holder only as to matters for which the record date occurs after
the exercise date.

8

Confidential Treatment Requested by Nucana plc

Pursuant to 17 C.F.R. Section 200.83

The Pre-FundedWarrants, Series A Warrants and Series B Warrants are speculative in nature.

The Pre-Funded Warrants, Series A Warrants and Series
B Warrants do not confer any rights of ADS ownership on their respective holders, such as voting rights or the right to receive dividends, but rather merely represent the right to acquire ADSs at a fixed price.

Purchasers who purchase our securities in this offering pursuant to a securities purchase agreement may have rights not available to purchasers that purchase without the benefit of a securities purchase agreement.

In addition to rights and remedies available to all purchasers in
this offering under federal securities law and state law, the purchasers that enter into a securities purchase agreement will also be able to bring claims of breach of contract against us. The ability to pursue a claim for breach of contract
provides those investors with the means to enforce the covenants uniquely available to them under the securities purchase agreement including, but not limited to: (i) timely delivery of securities; (ii) agreement to not enter into variable
rate financings for three months from closing, subject to exceptions; (iii) agreement to not enter into any financings for 90 days from closing; and (iv) indemnification for breach of contract.

The Series A Warrants and Series B Warrants may not have value.

The Series A Warrants being offered by us in this offering have an exercise price of $ per ADS, and expire on the five-year
anniversary of the Initial Exercise Date. The Series B Warrants being offered by us in this offering have an exercise price of $ per ADS, and expire on the two and one-half (2.5)-year anniversary
of the Initial Exercise Date. In the event that the prevailing market price of our ADSs does not exceed the exercise price of the Series A Warrants or Series B Warrants, as applicable, during the period when such Warrants are exercisable, such
Warrants may not have any value. There can be no assurance that the market price of our ADS