Company: NCNA
Filing Date: 2025-04-04
Form Type: DRS
Source: 0000950123-25-003335
Chunk: 75

Company: NuCana plc
Filing Date: 2025-04-04
Form: DRS
Chunk 75
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 to the difference between the amount realized and the U.S. Holder’s

55

Confidential Treatment Requested by Nucana plc

Pursuant to 17 C.F.R. Section 200.83

adjusted tax basis in the ADSs or Pre-Funded Warrants, as determined in U.S. dollars. A U.S. Holder will not be taxed on the ordinary income and net
capital gain under the QEF rules for any year that we are not a PFIC. As provided below, a U.S. Holder may not make a QEF Election with respect to the Warrants.

In the event that we are classified as a PFIC in any year in which a U.S. Holder holds the ADSs, the
Pre-Funded Warrants, or the Warrants, and neither a QEF Election nor the “mark-to-market” election described below is
made by a taxable U.S. Holder, a special tax regime will apply with respect to such U.S. Holder to both (a) any gain realized on the sale or other disposition of the ADSs, the Pre-Funded Warrants, or the
Warrants (as applicable) and (b) any “excess distribution” by us to such U.S. Holder (generally, such U.S. Holder’s ratable portion of distributions received by such U.S. Holder in any year which are greater than 125% of the
average annual distribution received by such U.S. Holder in the shorter of the three preceding years or such U.S. Holder’s holding period for the ADSs, the Pre-Funded Warrants, or the Warrants). Any gain
recognized by such U.S. Holder on a sale or other disposition (including a pledge) of the ADSs, the Pre-Funded Warrants, or the Warrants (as applicable), and any excess distribution would be allocated ratably
over such U.S. Holder’s holding period for the ADSs, the Pre-Funded Warrants, or the Warrants (as applicable),. The amounts allocated to the taxable year of the sale or other disposition and to any year
before we became a PFIC would be taxed as ordinary income. The amount allocated to each other taxable year would be subject to tax at the highest rate in effect for individuals or corporations, as appropriate, for that taxable year, and the interest
charge generally applicable to underpayments of tax would be imposed on taxes deemed to have been payable in for the relevant taxable PFIC years. Classification