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:

06 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:

2,055,509

0.33%

7,789,490

1.27%

(2)

Cash-settled derivatives:

7,592,938

1.24%

1,984,453

0.32%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,648,447

1.57%

9,773,943

1.59%

(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

2

2.2840 GBP

5p ordinary

Purchase

8

2.3097 GBP

5p ordinary

Purchase

22

2.3049 GBP

5p ordinary

Purchase

203

2.3120 GBP

5p ordinary

Purchase

464

2.3140 GBP

5p ordinary

Purchase

680

2.3148 GBP

5p ordinary

Purchase

827

2.3257 GBP

5p ordinary

Purchase

856

2.3250 GBP

5p ordinary

Purchase

942

2.3372 GBP

5p ordinary

Purchase

1,083

2.3099 GBP

5p ordinary

Purchase

1,083

2.3100 GBP

5p ordinary

Purchase

1,299

2.3230 GBP

5p ordinary

Purchase

1,982

2.3193 GBP

5p ordinary

Purchase

2,476

2.3424 GBP

5p ordinary

Purchase

4,723

2.3232 GBP

5p ordinary

Purchase

10,497

2.3056 GBP

5p ordinary

Purchase

12,106

2.3170 GBP

5p ordinary

Purchase

15,825

2.3683 GBP

5p ordinary

Purchase

32,023

2.3235 GBP

5p ordinary

Sale

2

2.2840 GBP

5p ordinary

Sale

60

2.3086 GBP

5p ordinary

Sale

222

2.3080 GBP

5p ordinary

Sale

250

2.3140 GBP

5p ordinary

Sale

784

2.3109 GBP

5p ordinary

Sale

806

2.3280 GBP

5p ordinary

Sale

914

2.3590 GBP

5p ordinary

Sale

935

2.3249 GBP

5p ordinary

Sale

1,250

2.3087 GBP

5p ordinary

Sale

1,363

2.3260 GBP

5p ordinary

Sale

2,155

2.3238 GBP

5p ordinary

Sale

3,264

2.2960 GBP

5p ordinary

Sale

3,842

2.3210 GBP

5p ordinary

Sale

4,182

2.2959 GBP

5p ordinary

Sale

6,659

2.3239 GBP

5p ordinary

Sale

8,597

2.3173 GBP

5p ordinary

Sale

8,653

2.3265 GBP

5p ordinary

Sale

8,663

2.3056 GBP

5p ordinary

Sale

9,125

2.3181 GBP

5p ordinary

Sale

9,407

2.3100 GBP

5p ordinary

Sale

9,925

2.3259 GBP

5p ordinary

Sale

12,556

2.3326 GBP

5p ordinary

Sale

13,399

2.3219 GBP

5p ordinary

Sale

20,240

2.3218 GBP

5p ordinary

Sale

23,211

2.3221 GBP

5p ordinary

Sale

74,551

2.3323 GBP

5p ordinary

Sale

108,171

2.3307 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

98

2.3204 GBP

5p ordinary

 SWAP

Long

213

2.3055 GBP

5p ordinary

 SWAP

Long

286

2.3279 GBP

5p ordinary

 SWAP

Long

784

2.3109 GBP

5p ordinary

 CFD

Long

1,041

2.3758 GBP

5p ordinary

 SWAP

Long

1,581

2.3317 GBP

5p ordinary

 SWAP

Long

1,590

2.3209 GBP

5p ordinary

 SWAP

Long

2,154

2.3211 GBP

5p ordinary

 CFD

Long

2,183

2.3013 GBP

5p ordinary

 SWAP

Long

3,651

2.3053 GBP

5p ordinary

 SWAP

Long

4,182

2.2959 GBP

5p ordinary

 SWAP

Long

4,799

2.3058 GBP

5p ordinary

 SWAP

Long

5,572

2.3293 GBP

5p ordinary

 SWAP

Long

7,888

2.3159 GBP

5p ordinary

 SWAP

Long

8,029

2.3510 GBP

5p ordinary

 SWAP

Long

8,597

2.3173 GBP

5p ordinary

 CFD

Long

9,125

2.3181 GBP

5p ordinary

 CFD

Long

9,684

2.3213 GBP

5p ordinary

 SWAP

Long

12,352

2.3256 GBP

5p ordinary

 SWAP

Long

24,856

2.3219 GBP

5p ordinary

 SWAP

Long

26,456

2.3291 GBP

5p ordinary

 SWAP

Long

29,799

2.3306 GBP

5p ordinary

 SWAP

Long

35,217

2.3214 GBP

5p ordinary

 SWAP

Long

36,638

2.3379 GBP

5p ordinary

 SWAP

Long

40,159

2.3361 GBP

5p ordinary

 SWAP

Short

192

2.3120 GBP

5p ordinary

 SWAP

Short

680

2.3147 GBP

5p ordinary

 SWAP

Short

1,146

2.3377 GBP

5p ordinary

 SWAP

Short

3,183

2.3096 GBP

5p ordinary

 SWAP

Short

3,320

2.3354 GBP

5p ordinary

 SWAP

Short

4,723

2.3232 GBP

5p ordinary

 SWAP

Short

5,056

2.3329 GBP

5p ordinary

 SWAP

Short

9,945

2.3952 GBP

5p ordinary

 SWAP

Short

12,106

2.3170 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:

7 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213