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:

14 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:

2,183,347

0.36%

7,646,716

1.25%

(2)

Cash-settled derivatives:

7,308,638

1.19%

2,017,736

0.33%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,491,985

1.55%

9,664,452

1.57%

(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

64

2.3122 GBP

5p ordinary

Purchase

1,290

2.3400 GBP

5p ordinary

Purchase

1,450

2.3336 GBP

5p ordinary

Purchase

1,530

2.3322 GBP

5p ordinary

Purchase

1,842

2.3228 GBP

5p ordinary

Purchase

3,716

2.3380 GBP

5p ordinary

Purchase

3,909

2.3289 GBP

5p ordinary

Purchase

5,057

2.3325 GBP

5p ordinary

Purchase

5,508

2.3318 GBP

5p ordinary

Purchase

5,883

2.3313 GBP

5p ordinary

Purchase

13,343

2.3232 GBP

5p ordinary

Purchase

39,601

2.3267 GBP

5p ordinary

Purchase

113,792

2.3320 GBP

5p ordinary

Sale

1

2.3200 GBP

5p ordinary

Sale

1

2.3060 GBP

5p ordinary

Sale

4

2.3400 GBP

5p ordinary

Sale

13

2.3240 GBP

5p ordinary

Sale

15

2.3040 GBP

5p ordinary

Sale

31

2.2960 GBP

5p ordinary

Sale

64

2.3122 GBP

5p ordinary

Sale

87

2.2980 GBP

5p ordinary

Sale

89

2.3050 GBP

5p ordinary

Sale

122

2.3280 GBP

5p ordinary

Sale

158

2.3080 GBP

5p ordinary

Sale

912

2.3093 GBP

5p ordinary

Sale

2,073

2.3334 GBP

5p ordinary

Sale

2,261

2.3273 GBP

5p ordinary

Sale

2,746

2.3368 GBP

5p ordinary

Sale

3,728

2.3379 GBP

5p ordinary

Sale

4,143

2.3380 GBP

5p ordinary

Sale

9,162

2.3289 GBP

5p ordinary

Sale

17,703

2.3283 GBP

5p ordinary

Sale

22,723

2.3217 GBP

5p ordinary

Sale

31,866

2.3320 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

13

2.3239 GBP

5p ordinary

 SWAP

Long

228

2.3354 GBP

5p ordinary

 SWAP

Long

1,885

2.3388 GBP

5p ordinary

 SWAP

Long

2,518

2.3370 GBP

5p ordinary

 SWAP

Long

4,575

2.3349 GBP

5p ordinary

 CFD

Long

10,183

2.3320 GBP

5p ordinary

 CFD

Long

11,681

2.3098 GBP

5p ordinary

 CFD

Long

17,703

2.3283 GBP

5p ordinary

 CFD

Long

18,204

2.3298 GBP

5p ordinary

 SWAP

Short

128

2.3280 GBP

5p ordinary

 SWAP

Short

417

2.3192 GBP

5p ordinary

 SWAP

Short

1,450

2.3336 GBP

5p ordinary

 SWAP

Short

3,897

2.3295 GBP

5p ordinary

 SWAP

Short

5,883

2.3313 GBP

5p ordinary

 SWAP

Short

9,917

2.3269 GBP

5p ordinary

 SWAP

Short

11,659

2.3220 GBP

5p ordinary

 SWAP

Short

12,500

2.3255 GBP

5p ordinary

 SWAP

Short

20,011

2.3276 GBP

5p ordinary

 SWAP

Short

47,055

2.3320 GBP

5p ordinary

 CFD

Short

68,421

2.3319 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:

19 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213