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:

29 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:

2,709,411

0.44%

8,574,733

1.40%

(2)

Cash-settled derivatives:

15,391,561

2.51%

2,234,266

0.36%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

18,100,972

2.95%

10,808,999

1.76%

(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

14

2.4865 GBP

5p ordinary

Purchase

19

2.5000 GBP

5p ordinary

Purchase

23

2.4875 GBP

5p ordinary

Purchase

34

2.4912 GBP

5p ordinary

Purchase

175

2.4980 GBP

5p ordinary

Purchase

499

2.5020 GBP

5p ordinary

Purchase

940

2.5160 GBP

5p ordinary

Purchase

942

2.5089 GBP

5p ordinary

Purchase

1,374

2.4878 GBP

5p ordinary

Purchase

1,510

2.4944 GBP

5p ordinary

Purchase

1,550

2.4880 GBP

5p ordinary

Purchase

1,859

2.4869 GBP

5p ordinary

Purchase

2,290

2.4920 GBP

5p ordinary

Purchase

3,629

2.4843 GBP

5p ordinary

Purchase

5,170

2.4899 GBP

5p ordinary

Purchase

5,440

2.4960 GBP

5p ordinary

Purchase

5,521

2.4979 GBP

5p ordinary

Purchase

13,779

2.4895 GBP

5p ordinary

Purchase

84,591

2.4890 GBP

5p ordinary

Sale

16

2.4917 GBP

5p ordinary

Sale

21

2.4900 GBP

5p ordinary

Sale

42

2.4934 GBP

5p ordinary

Sale

431

2.4990 GBP

5p ordinary

Sale

436

2.4899 GBP

5p ordinary

Sale

459

2.4980 GBP

5p ordinary

Sale

479

2.5022 GBP

5p ordinary

Sale

747

2.5030 GBP

5p ordinary

Sale

836

2.5040 GBP

5p ordinary

Sale

1,000

2.4999 GBP

5p ordinary

Sale

1,752

2.4949 GBP

5p ordinary

Sale

1,759

2.5027 GBP

5p ordinary

Sale

2,043

2.5025 GBP

5p ordinary

Sale

3,492

2.4997 GBP

5p ordinary

Sale

4,455

2.4960 GBP

5p ordinary

Sale

4,823

2.4880 GBP

5p ordinary

Sale

6,343

2.4881 GBP

5p ordinary

Sale

6,977

2.4902 GBP

5p ordinary

Sale

11,431

2.4935 GBP

5p ordinary

Sale

11,735

2.4984 GBP

5p ordinary

Sale

14,333

2.4923 GBP

5p ordinary

Sale

15,729

2.4903 GBP

5p ordinary

Sale

17,090

2.4909 GBP

5p ordinary

Sale

25,064

2.4988 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

1

2.5200 GBP

5p ordinary

 CFD

Long

388

2.4922 GBP

5p ordinary

 SWAP

Long

583

2.4899 GBP

5p ordinary

 SWAP

Long

747

2.5030 GBP

5p ordinary

 CFD

Long

1,000

2.4999 GBP

5p ordinary

 SWAP

Long

1,180

2.4927 GBP

5p ordinary

 CFD

Long

2,296

2.4880 GBP

5p ordinary

 CFD

Long

5,964

2.4980 GBP

5p ordinary

 SWAP

Long

6,977

2.4902 GBP

5p ordinary

 CFD

Long

7,801

2.5012 GBP

5p ordinary

 CFD

Long

11,431

2.4935 GBP

5p ordinary

 CFD

Long

13,945

2.4923 GBP

5p ordinary

 CFD

Long

17,090

2.4909 GBP

5p ordinary

 CFD

Long

25,064

2.4988 GBP

5p ordinary

 SWAP

Short

652

2.5219 GBP

5p ordinary

 SWAP

Short

1,510

2.4944 GBP

5p ordinary

 SWAP

Short

2,128

2.4932 GBP

5p ordinary

 SWAP

Short

5,170

2.4899 GBP

5p ordinary

 SWAP

Short

5,521

2.4979 GBP

5p ordinary

 SWAP

Short

5,550

2.4938 GBP

5p ordinary

 SWAP

Short

14,168

2.4912 GBP

5p ordinary

 SWAP

Short

16,611

2.4873 GBP

5p ordinary

 CFD

Short

22,095

2.4881 GBP

5p ordinary

 SWAP

Short

29,089

2.4877 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:

3 May 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213