Company: NCNA
Filing Date: 2025-04-24
Form Type: F-1
Source: 0001193125-25-092131
Chunk: 30

Company: NuCana plc
Filing Date: 2025-04-24
Form: F-1
Chunk 30
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 have based this estimate on assumptions that may prove to be incorrect, and we could use our available capital resources sooner
than we currently expect.

Pending specific utilization of the net proceeds as described above, we intend to invest the net proceeds from
this offering in short- and intermediate-term interest-bearing obligations and certificates of deposit.

We have not determined the
amounts we plan to spend on any of the areas listed above or the timing of these expenditures. As a result, our management will have broad discretion to allocate the net proceeds, if any, we receive in connection with securities offered pursuant to
this prospectus for any purpose. Pending application of the net proceeds as described above, we may initially invest the net proceeds in short-term, investment-grade and interest-bearing securities.

15

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.

16

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”, or 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 16,049,383 ADSs and accompanying                                                                                                                                             
 Warrants in this offering at an assumed combined public offering price of $0.81 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 April 21, 2025 after