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:

08 March 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:

1,244,697

0.20%

9,926,904

1.62%

(2)

Cash-settled derivatives:

9,652,714

1.57%

920,032

0.15%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

10,897,411

1.77%

10,846,936

1.77%

(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

581

1.9470 GBP

5p ordinary

Purchase

1,974

1.9210 GBP

5p ordinary

Purchase

1,990

1.9330 GBP

5p ordinary

Purchase

2,040

1.8950 GBP

5p ordinary

Purchase

2,286

1.9092 GBP

5p ordinary

Purchase

2,320

1.9490 GBP

5p ordinary

Purchase

3,023

1.9281 GBP

5p ordinary

Purchase

3,554

1.9170 GBP

5p ordinary

Purchase

4,794

1.9003 GBP

5p ordinary

Purchase

5,000

1.9620 GBP

5p ordinary

Purchase

5,111

1.9169 GBP

5p ordinary

Purchase

5,119

1.9104 GBP

5p ordinary

Purchase

5,761

1.9600 GBP

5p ordinary

Purchase

6,000

1.9720 GBP

5p ordinary

Purchase

7,350

1.9521 GBP

5p ordinary

Purchase

8,451

1.9405 GBP

5p ordinary

Purchase

10,901

1.9561 GBP

5p ordinary

Purchase

11,000

1.9674 GBP

5p ordinary

Purchase

17,203

1.9208 GBP

5p ordinary

Purchase

24,235

1.9184 GBP

5p ordinary

Purchase

28,135

1.9260 GBP

5p ordinary

Purchase

31,428

1.9411 GBP

5p ordinary

Purchase

32,509

1.9259 GBP

5p ordinary

Purchase

35,405

1.9373 GBP

5p ordinary

Purchase

35,922

1.9382 GBP

5p ordinary

Purchase

81,426

1.9524 GBP

5p ordinary

Purchase

122,204

1.9233 GBP

5p ordinary

Purchase

231,997

1.9539 GBP

5p ordinary

Purchase

449,330

1.9544 GBP

5p ordinary

Sale

114

1.9372 GBP

5p ordinary

Sale

341

1.9272 GBP

5p ordinary

Sale

398

1.9111 GBP

5p ordinary

Sale

457

1.9500 GBP

5p ordinary

Sale

1,115

1.8976 GBP

5p ordinary

Sale

1,974

1.9210 GBP

5p ordinary

Sale

1,990

1.9330 GBP

5p ordinary

Sale

2,040

1.8950 GBP

5p ordinary

Sale

3,324

1.9667 GBP

5p ordinary

Sale

3,778

1.9680 GBP

5p ordinary

Sale

4,360

1.9237 GBP

5p ordinary

Sale

5,000

1.9620 GBP

5p ordinary

Sale

6,000

1.9720 GBP

5p ordinary

Sale

6,066

1.9088 GBP

5p ordinary

Sale

7,598

1.9245 GBP

5p ordinary

Sale

8,217

1.9490 GBP

5p ordinary

Sale

15,868

1.9293 GBP

5p ordinary

Sale

16,622

1.9625 GBP

5p ordinary

Sale

49,465

1.9260 GBP

5p ordinary

Sale

74,938

1.9242 GBP

5p ordinary

Sale

75,177

1.9165 GBP

5p ordinary

Sale

294,308

1.9326 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

5p ordinary

 CFD

Long

67

1.9294 GBP

5p ordinary

 SWAP

Long

114

1.9372 GBP

5p ordinary

 CFD

Long

270

1.9558 GBP

5p ordinary

 SWAP

Long

341

1.9272 GBP

5p ordinary

 SWAP

Long

9,729

1.9015 GBP

5p ordinary

 CFD

Long

15,801

1.9293 GBP

5p ordinary

 CFD

Long

19,077

1.8966 GBP

5p ordinary

 SWAP

Long

22,676

1.9410 GBP

5p ordinary

 CFD

Long

35,190

1.9258 GBP

5p ordinary

 SWAP

Long

37,766

1.9254 GBP

5p ordinary

 SWAP

Long

70,662

1.9349 GBP

5p ordinary

 SWAP

Long

114,005

1.9425 GBP

5p ordinary

 SWAP

Short

428

1.9527 GBP

5p ordinary

 SWAP

Short

797

1.9632 GBP

5p ordinary

 SWAP

Short

9,089

1.9409 GBP

5p ordinary

 SWAP

Short

15,205

1.9190 GBP

5p ordinary

 SWAP

Short

15,980

1.9416 GBP

5p ordinary

 SWAP

Short

19,425

1.9337 GBP

5p ordinary

 SWAP

Short

21,000

1.9264 GBP

5p ordinary

 SWAP

Short

28,135

1.9260 GBP

5p ordinary

 CFD

Short

54,465

1.9599 GBP

5p ordinary

 CFD

Short

57,600

1.9612 GBP

5p ordinary

 SWAP

Short

68,847

1.9355 GBP

5p ordinary

 CFD

Short

81,426

1.9524 GBP

5p ordinary

 SWAP

Short

83,515

1.9503 GBP

5p ordinary

 SWAP

Short

85,234

1.9649 GBP

5p ordinary

 SWAP

Short

99,257

1.9572 GBP

5p ordinary

 SWAP

Short

132,740

1.9515 GBP

5p ordinary

 SWAP

Short

163,384

1.9514 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:

9 Mar 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213