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:

22 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:

2,177,107

0.35%

7,556,890

1.23%

(2)

Cash-settled derivatives:

7,260,092

1.18%

2,074,254

0.34%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,437,199

1.54%

9,631,144

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

1

2.3637 GBP

5p ordinary

Purchase

204

2.3840 GBP

5p ordinary

Purchase

338

2.4020 GBP

5p ordinary

Purchase

438

2.3720 GBP

5p ordinary

Purchase

467

2.3800 GBP

5p ordinary

Purchase

632

2.3920 GBP

5p ordinary

Purchase

780

2.3980 GBP

5p ordinary

Purchase

1,657

2.4011 GBP

5p ordinary

Purchase

1,991

2.3845 GBP

5p ordinary

Purchase

4,454

2.3879 GBP

5p ordinary

Purchase

5,767

2.3758 GBP

5p ordinary

Purchase

10,000

2.3816 GBP

5p ordinary

Purchase

38,865

2.3883 GBP

5p ordinary

Purchase

72,660

2.3746 GBP

5p ordinary

Sale

1

2.3640 GBP

5p ordinary

Sale

15

2.3800 GBP

5p ordinary

Sale

75

2.3920 GBP

5p ordinary

Sale

247

2.3960 GBP

5p ordinary

Sale

332

2.3700 GBP

5p ordinary

Sale

338

2.4020 GBP

5p ordinary

Sale

984

2.3950 GBP

5p ordinary

Sale

991

2.4048 GBP

5p ordinary

Sale

1,061

2.3840 GBP

5p ordinary

Sale

1,403

2.3798 GBP

5p ordinary

Sale

1,410

2.3766 GBP

5p ordinary

Sale

1,676

2.3793 GBP

5p ordinary

Sale

1,804

2.3872 GBP

5p ordinary

Sale

2,598

2.3897 GBP

5p ordinary

Sale

2,718

2.3681 GBP

5p ordinary

Sale

4,196

2.3824 GBP

5p ordinary

Sale

4,201

2.3680 GBP

5p ordinary

Sale

5,542

2.3949 GBP

5p ordinary

Sale

6,827

2.3919 GBP

5p ordinary

Sale

9,361

2.3913 GBP

5p ordinary

Sale

10,296

2.3890 GBP

5p ordinary

Sale

10,981

2.3670 GBP

5p ordinary

Sale

15,464

2.3795 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

15

2.3799 GBP

5p ordinary

 SWAP

Long

890

2.3798 GBP

5p ordinary

 SWAP

Long

1,446

2.3679 GBP

5p ordinary

 SWAP

Long

1,859

2.3908 GBP

5p ordinary

 SWAP

Long

7,020

2.3928 GBP

5p ordinary

 SWAP

Long

8,645

2.3655 GBP

5p ordinary

 CFD

Long

15,464

2.3795 GBP

5p ordinary

 SWAP

Short

1,657

2.4011 GBP

5p ordinary

 SWAP

Short

3,954

2.3818 GBP

5p ordinary

 SWAP

Short

6,840

2.3896 GBP

5p ordinary

 SWAP

Short

10,000

2.3816 GBP

5p ordinary

 SWAP

Short

11,153

2.3884 GBP

5p ordinary

 SWAP

Short

13,987

2.3733 GBP

5p ordinary

 CFD

Short

19,836

2.3681 GBP

5p ordinary

 SWAP

Short

27,921

2.3740 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:

25 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213