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:

21 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:

2,159,733

0.35%

7,595,249

1.24%

(2)

Cash-settled derivatives:

7,305,120

1.19%

2,059,273

0.34%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,464,853

1.54%

9,654,522

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

174

2.4019 GBP

5p ordinary

Purchase

617

2.4250 GBP

5p ordinary

Purchase

619

2.4091 GBP

5p ordinary

Purchase

1,039

2.4070 GBP

5p ordinary

Purchase

1,328

2.4220 GBP

5p ordinary

Purchase

6,060

2.4138 GBP

5p ordinary

Purchase

7,718

2.4199 GBP

5p ordinary

Purchase

10,510

2.4316 GBP

5p ordinary

Purchase

16,159

2.4191 GBP

5p ordinary

Purchase

28,036

2.4188 GBP

5p ordinary

Sale

14

2.4080 GBP

5p ordinary

Sale

443

2.4100 GBP

5p ordinary

Sale

1,030

2.4260 GBP

5p ordinary

Sale

1,034

2.4180 GBP

5p ordinary

Sale

1,039

2.4070 GBP

5p ordinary

Sale

1,316

2.4092 GBP

5p ordinary

Sale

1,390

2.4200 GBP

5p ordinary

Sale

2,052

2.4359 GBP

5p ordinary

Sale

2,532

2.4220 GBP

5p ordinary

Sale

2,817

2.4245 GBP

5p ordinary

Sale

3,076

2.4366 GBP

5p ordinary

Sale

3,890

2.4288 GBP

5p ordinary

Sale

4,099

2.4140 GBP

5p ordinary

Sale

5,366

2.4224 GBP

5p ordinary

Sale

7,070

2.4258 GBP

5p ordinary

Sale

15,031

2.4184 GBP

5p ordinary

Sale

33,264

2.4206 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

10

2.4300 GBP

5p ordinary

 SWAP

Long

635

2.4293 GBP

5p ordinary

 SWAP

Long

1,530

2.4140 GBP

5p ordinary

 SWAP

Long

2,162

2.4336 GBP

5p ordinary

 SWAP

Long

3,289

2.4139 GBP

5p ordinary

 SWAP

Long

7,070

2.4258 GBP

5p ordinary

 SWAP

Long

7,168

2.4195 GBP

5p ordinary

 CFD

Long

15,031

2.4184 GBP

5p ordinary

 SWAP

Long

22,677

2.4213 GBP

5p ordinary

 SWAP

Short

8

2.4100 GBP

5p ordinary

 SWAP

Short

174

2.4020 GBP

5p ordinary

 SWAP

Short

251

2.4209 GBP

5p ordinary

 SWAP

Short

619

2.4091 GBP

5p ordinary

 SWAP

Short

5,604

2.4199 GBP

5p ordinary

 SWAP

Short

5,651

2.4183 GBP

5p ordinary

 SWAP

Short

12,676

2.4196 GBP

5p ordinary

 SWAP

Short

14,989

2.4178 GBP

5p ordinary

 SWAP

Short

16,159

2.4191 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:

22 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213