Company: NCNA
Filing Date: 2025-04-04
Form Type: DRS
Source: 0000950123-25-003335
Chunk: 22

Company: NuCana plc
Filing Date: 2025-04-04
Form: DRS
Chunk 22
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Pending application of the net proceeds as described above, we may initially invest the net proceeds in short-term, investment-grade and interestbearing securities.

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Confidential Treatment Requested by Nucana plc

Pursuant to 17 C.F.R. Section 200.83

DIVIDENDS AND DIVIDEND POLICY

We have never declared or paid a dividend, and we do not anticipate declaring or paying dividends in the foreseeable future. We intend to
retain all available funds and any future earnings to fund the development and expansion of our business.

Under English law, among other
things, we may only pay dividends if we have sufficient distributable reserves (on a non-consolidated basis), which are our accumulated realized profits that have not been previously distributed or capitalized
less our accumulated realized losses, so far as such losses have not been previously written off in a reduction or reorganization of capital.

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Confidential Treatment Requested by Nucana plc Pursuant to 17 C.F.R. Section 200.83 CAPITALIZATION The following table presents our total capitalization and cash and cash equivalents as of December 31, 2024 on:

| • |     | an actual basis; |

| • |     | a pro forma basis to give effect to the sale and issuance, subsequent to December 31, 2024 through the date of                                                                                                                                
 this registration statement, of 394,303 ADSs, representing 9,857,575 ordinary shares, pursuant to an “at-the-market” (ATM) sales agreement with Jefferies LLC, resulting in net proceeds, after deducting sales commissions and other related 
 expenses, of £0.5 million; and                                                                                                                                                                                                                |

| • |     | a pro forma as adjusted basis to give further effect to the sale by us of   ADSs and accompanying                                                                                                                     
 Warrants in this offering at an assumed combined public offering price of $   per ADS and accompanying Series A Warrant and Series B Warrant, which was the closing price of our ADSs on The Nasdaq Capital Market on 
 , 2025 after deducting Placement Agent fees and estimated offering expenses payable by us assuming no sale of any Pre-Funded Warrants and no exercise of the Warrants.                                                |

You should read this table in conjunction with our audited consolidated financial statements and related notes and “Use of Proceeds” appearing elsewhere in this prospectus and incorporated by reference in this prospectus.

|                                                             |     | As