Company: NCNA
Filing Date: 2025-04-04
Form Type: DRS
Source: 0000950123-25-003335
Chunk: 63

Company: NuCana plc
Filing Date: 2025-04-04
Form: DRS
Chunk 63
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 and the number of shares issuable upon exercise will be increased such that the aggregate
exercise price of the Series A Warrants on the issuance date for the ADSs underlying the Series A Warrants then outstanding shall remain unchanged.

Transferability

Subject to applicable
laws, a Series A Warrant may be transferred at the option of the holder upon surrender of the Series A Warrant to us together with the appropriate instruments of transfer.

Fractional Shares

No fractional ADSs
will be issued upon the exercise of the Series A Warrants. Rather, the number of ADSs to be issued will, at our election, either be rounded up to the next whole share or we will pay a cash adjustment in respect of such final fraction in an amount
equal to such fraction multiplied by the exercise price.

Trading Market

There is no established trading market for the Series A Warrants, and we do not expect an active trading market to develop. We do not intend to
apply to list the Series A Warrants on any securities exchange or other trading market. Without a trading market, the liquidity of the Series A Warrants will be extremely limited.

Rights as an ADS Holder

Except as
otherwise provided in the Series A Warrants or by virtue of such holder’s ownership of our ordinary shares, the holder of a Series A Warrant does not have the rights or privileges of a holder of our ordinary shares, including any voting rights.

Waivers and Amendments

The Series A
Warrants may be modified or amended, or the provisions thereof waived with the written consent of us and the respective holder.

48

Confidential Treatment Requested by Nucana plc

Pursuant to 17 C.F.R. Section 200.83

Series B Warrants

The following summary of certain terms and provisions of the Series B Warrants that are being offered hereby is not complete and is subject to,
and qualified in its entirety by, the provisions of the Series B Warrant, the form of which will be filed as an exhibit to the registration statement of which this prospectus forms a part. Prospective investors should carefully review the terms and
provisions of the form of Series B Warrant for a complete description of the terms and conditions of the Series B Warrants.

The following
is a brief summary of the Series B Warrants and is still subject in all respects to the provisions contained in the form of Series B Warrants.

Duration and Exercise Price

Each Series
B Warrant will have an exercise price equal to $ per share, will