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 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:

2,055,177

0.33%

7,801,013

1.27%

(2)

Cash-settled derivatives:

7,591,018

1.24%

1,979,010

0.32%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,646,195

1.57%

9,780,023

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

25

2.3840 GBP

5p ordinary

Purchase

376

2.3140 GBP

5p ordinary

Purchase

426

2.3535 GBP

5p ordinary

Purchase

447

2.3100 GBP

5p ordinary

Purchase

453

2.3520 GBP

5p ordinary

Purchase

654

2.3060 GBP

5p ordinary

Purchase

855

2.3417 GBP

5p ordinary

Purchase

1,025

2.3386 GBP

5p ordinary

Purchase

1,287

2.3431 GBP

5p ordinary

Purchase

1,380

2.3501 GBP

5p ordinary

Purchase

1,388

2.3260 GBP

5p ordinary

Purchase

1,525

2.4070 GBP

5p ordinary

Purchase

1,533

2.3315 GBP

5p ordinary

Purchase

2,380

2.3479 GBP

5p ordinary

Purchase

2,725

2.3439 GBP

5p ordinary

Purchase

2,725

2.3440 GBP

5p ordinary

Purchase

4,458

2.3521 GBP

5p ordinary

Purchase

4,703

2.3352 GBP

5p ordinary

Purchase

7,247

2.3409 GBP

5p ordinary

Purchase

8,341

2.3459 GBP

5p ordinary

Purchase

8,764

2.3289 GBP

5p ordinary

Purchase

15,625

2.3569 GBP

5p ordinary

Purchase

22,692

2.3432 GBP

5p ordinary

Purchase

27,286

2.3525 GBP

5p ordinary

Purchase

32,705

2.3453 GBP

5p ordinary

Purchase

59,455

2.3367 GBP

5p ordinary

Sale

7

2.3420 GBP

5p ordinary

Sale

215

2.3340 GBP

5p ordinary

Sale

640

2.3444 GBP

5p ordinary

Sale

896

2.3640 GBP

5p ordinary

Sale

971

2.4000 GBP

5p ordinary

Sale

1,290

2.3398 GBP

5p ordinary

Sale

1,525

2.4070 GBP

5p ordinary

Sale

1,645

2.3431 GBP

5p ordinary

Sale

1,734

2.3412 GBP

5p ordinary

Sale

1,869

2.3306 GBP

5p ordinary

Sale

3,306

2.3460 GBP

5p ordinary

Sale

4,634

2.3459 GBP

5p ordinary

Sale

5,450

2.3440 GBP

5p ordinary

Sale

5,790

2.3314 GBP

5p ordinary

Sale

6,073

2.3461 GBP

5p ordinary

Sale

6,684

2.3683 GBP

5p ordinary

Sale

8,905

2.3438 GBP

5p ordinary

Sale

9,197

2.3632 GBP

5p ordinary

Sale

10,212

2.3453 GBP

5p ordinary

Sale

11,164

2.3391 GBP

5p ordinary

Sale

14,957

2.3404 GBP

5p ordinary

Sale

95,992

2.3496 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

420

2.3740 GBP

5p ordinary

 CFD

Long

1,115

2.3396 GBP

5p ordinary

 SWAP

Long

1,734

2.3412 GBP

5p ordinary

 SWAP

Long

1,869

2.3306 GBP

5p ordinary

 CFD

Long

4,035

2.3457 GBP

5p ordinary

 SWAP

Long

5,234

2.3459 GBP

5p ordinary

 SWAP

Long

10,212

2.3453 GBP

5p ordinary

 SWAP

Long

11,796

2.3545 GBP

5p ordinary

 CFD

Long

14,957

2.3404 GBP

5p ordinary

 SWAP

Long

16,427

2.3512 GBP

5p ordinary

 SWAP

Long

23,858

2.3424 GBP

5p ordinary

 CFD

Long

26,301

2.3646 GBP

5p ordinary

 SWAP

Long

37,920

2.3469 GBP

5p ordinary

 SWAP

Short

5

2.3460 GBP

5p ordinary

 SWAP

Short

100

2.3260 GBP

5p ordinary

 CFD

Short

1,388

2.3260 GBP

5p ordinary

 CFD

Short

1,724

2.3501 GBP

5p ordinary

 CFD

Short

3,460

2.3407 GBP

5p ordinary

 SWAP

Short

4,466

2.3507 GBP

5p ordinary

 SWAP

Short

4,703

2.3352 GBP

5p ordinary

 SWAP

Short

5,701

2.3304 GBP

5p ordinary

 SWAP

Short

7,247

2.3409 GBP

5p ordinary

 CFD

Short

8,341

2.3459 GBP

5p ordinary

 SWAP

Short

8,764

2.3289 GBP

5p ordinary

 SWAP

Short

11,138

2.3679 GBP

5p ordinary

 CFD

Short

27,286

2.3525 GBP

5p ordinary

 CFD

Short

32,705

2.3453 GBP

5p ordinary

 CFD

Short

59,455

2.3367 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:

11 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213