Form 8.3 - National Express Group plc

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR

MORE

Rule 8.3 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Full name of discloser:

Barclays PLC.

(b)

Owner or controller of interest and short

positions disclosed, if different from 1(a):

(c)

Name of offeror/offeree in relation to whose

NATIONAL EXPRESS GROUP PLC

relevant securities this form relates:

(d)

If an exempt fund manager connected with an

offeror/offeree, state this and specify identity of

offeror/offeree:

(e)

Date position held/dealing undertaken:

12 April 2022

(f)

In addition to the company in 1(c) above, is the discloser making

YES:

disclosures in respect of any other party to the offer?

STAGECOACH GROUP PLC

2.

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)

Interests and short positions in the relevant securities of the offeror or offeree

to which the disclosure relates following the dealing (if any)

Class of relevant security:

5p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

2,079,782

0.34%

8,058,826

1.31%

(2)

Cash-settled derivatives:

7,823,340

1.27%

2,001,863

0.33%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,903,122

1.61%

10,060,689

1.64%

(b)

Rights to subscribe for new securities (including directors and other executive

options)

Class of relevant security in relation to

which subscription right exists

Details, including nature of the rights

concerned and relevant percentages:

3.

DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

(a)

Purchases and sales

Class of relevant

Purchase/sale

Number of

Price per unit

security

securities

5p ordinary

Purchase

7

2.3426 GBP

5p ordinary

Purchase

51

2.3520 GBP

5p ordinary

Purchase

409

2.3420 GBP

5p ordinary

Purchase

590

2.3386 GBP

5p ordinary

Purchase

942

2.3411 GBP

5p ordinary

Purchase

973

2.3439 GBP

5p ordinary

Purchase

1,894

2.3417 GBP

5p ordinary

Purchase

1,908

2.3498 GBP

5p ordinary

Purchase

2,358

2.3355 GBP

5p ordinary

Purchase

2,970

2.3461 GBP

5p ordinary

Purchase

3,036

2.3443 GBP

5p ordinary

Purchase

3,240

2.3450 GBP

5p ordinary

Purchase

6,155

2.3464 GBP

5p ordinary

Purchase

7,011

2.3397 GBP

5p ordinary

Purchase

12,017

2.3485 GBP

5p ordinary

Purchase

22,482

2.3383 GBP

5p ordinary

Sale

4

2.3420 GBP

5p ordinary

Sale

136

2.3505 GBP

5p ordinary

Sale

162

2.3444 GBP

5p ordinary

Sale

442

2.3380 GBP

5p ordinary

Sale

473

2.3520 GBP

5p ordinary

Sale

494

2.3360 GBP

5p ordinary

Sale

877

2.3487 GBP

5p ordinary

Sale

910

2.3292 GBP

5p ordinary

Sale

1,367

2.3466 GBP

5p ordinary

Sale

1,550

2.3480 GBP

5p ordinary

Sale

1,754

2.3567 GBP

5p ordinary

Sale

1,909

2.3499 GBP

5p ordinary

Sale

3,242

2.3450 GBP

5p ordinary

Sale

3,364

2.3395 GBP

5p ordinary

Sale

5,071

2.3347 GBP

5p ordinary

Sale

7,729

2.3479 GBP

5p ordinary

Sale

10,299

2.3470 GBP

5p ordinary

Sale

15,815

2.3478 GBP

5p ordinary

Sale

17,570

2.3445 GBP

5p ordinary

Sale

18,589

2.3459 GBP

5p ordinary

Sale

280,263

2.3500 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

5p ordinary

 SWAP

Long

54

2.3399 GBP

5p ordinary

 SWAP

Long

162

2.3444 GBP

5p ordinary

 CFD

Long

1,377

2.3658 GBP

5p ordinary

 SWAP

Long

2,883

2.3459 GBP

5p ordinary

 SWAP

Long

3,038

2.3469 GBP

5p ordinary

 SWAP

Long

3,782

2.3423 GBP

5p ordinary

 CFD

Long

4,386

2.3416 GBP

5p ordinary

 SWAP

Long

5,513

2.3526 GBP

5p ordinary

 CFD

Long

5,627

2.3337 GBP

5p ordinary

 CFD

Long

15,815

2.3478 GBP

5p ordinary

 SWAP

Long

24,985

2.3445 GBP

5p ordinary

 SWAP

Long

275,129

2.3500 GBP

5p ordinary

 SWAP

Short

1

2.3500 GBP

5p ordinary

 SWAP

Short

198

2.3386 GBP

5p ordinary

 SWAP

Short

487

2.3424 GBP

5p ordinary

 CFD

Short

2,358

2.3355 GBP

5p ordinary

 SWAP

Short

3,036

2.3443 GBP

5p ordinary

 SWAP

Short

3,524

2.3425 GBP

5p ordinary

 SWAP

Short

4,900

2.3460 GBP

5p ordinary

 SWAP

Short

5,285

2.3382 GBP

5p ordinary

 SWAP

Short

6,155

2.3464 GBP

5p ordinary

 CFD

Short

22,482

2.3383 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class

Product

Writing,

Number

Exercise

Type

Expiry

Option

of

description

purchasing,

of

price

date

money

relevant

selling,

securities

per unit

paid/

security

varying etc

to which

received

option

per unit

relates

(ii)

Exercising

Class of relevant

Product description

Exercising/ exercised against

Number of

Exercise price per

security

securities

unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant

Nature of Dealings

Details

Price per unit (if

security

applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings arrangements

Details of any indemnity or option arrangement, or any agreement or understanding,

formal or informal, relating to relevant securities which may be an inducement to deal

or refrain from dealing entered into by the person making the disclosure and any party

to the offer or any person acting in concert with a party to the offer:

NONE

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between

the person making the disclosure and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights of future acquisition or disposal of any relevant securities to which

any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

13 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213