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:

26 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:

2,178,169

0.35%

7,897,624

1.29%

(2)

Cash-settled derivatives:

7,588,250

1.24%

2,106,502

0.34%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,766,419

1.59%

10,004,126

1.63%

(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

2.3737 GBP

5p ordinary

Purchase

18

2.3360 GBP

5p ordinary

Purchase

280

2.3960 GBP

5p ordinary

Purchase

467

2.3800 GBP

5p ordinary

Purchase

467

2.3799 GBP

5p ordinary

Purchase

493

2.3940 GBP

5p ordinary

Purchase

915

2.4360 GBP

5p ordinary

Purchase

996

2.3780 GBP

5p ordinary

Purchase

1,140

2.3568 GBP

5p ordinary

Purchase

1,936

2.4413 GBP

5p ordinary

Purchase

1,966

2.5070 GBP

5p ordinary

Purchase

3,698

2.3791 GBP

5p ordinary

Purchase

3,868

2.4232 GBP

5p ordinary

Purchase

4,484

2.3944 GBP

5p ordinary

Purchase

4,664

2.4208 GBP

5p ordinary

Purchase

5,000

2.4460 GBP

5p ordinary

Purchase

7,053

2.3436 GBP

5p ordinary

Purchase

11,572

2.3957 GBP

5p ordinary

Purchase

12,482

2.3596 GBP

5p ordinary

Purchase

13,608

2.4450 GBP

5p ordinary

Purchase

18,254

2.3300 GBP

5p ordinary

Purchase

40,021

2.3196 GBP

5p ordinary

Purchase

44,996

2.4178 GBP

5p ordinary

Sale

418

2.3990 GBP

5p ordinary

Sale

467

2.3800 GBP

5p ordinary

Sale

836

2.4300 GBP

5p ordinary

Sale

1,556

2.4475 GBP

5p ordinary

Sale

1,705

2.4525 GBP

5p ordinary

Sale

1,797

2.4325 GBP

5p ordinary

Sale

2,193

2.3881 GBP

5p ordinary

Sale

2,384

2.4880 GBP

5p ordinary

Sale

3,352

2.4392 GBP

5p ordinary

Sale

4,253

2.3300 GBP

5p ordinary

Sale

5,000

2.4460 GBP

5p ordinary

Sale

6,238

2.3965 GBP

5p ordinary

Sale

10,919

2.4370 GBP

5p ordinary

Sale

11,903

2.3301 GBP

5p ordinary

Sale

14,134

2.4102 GBP

5p ordinary

Sale

16,762

2.4567 GBP

5p ordinary

Sale

23,986

2.4066 GBP

5p ordinary

Sale

26,132

2.3797 GBP

5p ordinary

Sale

45,632

2.4298 GBP

5p ordinary

Sale

45,669

2.4041 GBP

5p ordinary

Sale

190,824

2.4125 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

440

2.4039 GBP

5p ordinary

 CFD

Long

2,193

2.3881 GBP

5p ordinary

 SWAP

Long

2,779

2.4341 GBP

5p ordinary

 SWAP

Long

4,488

2.4333 GBP

5p ordinary

 CFD

Long

4,682

2.3364 GBP

5p ordinary

 SWAP

Long

9,646

2.3994 GBP

5p ordinary

 SWAP

Long

12,920

2.3981 GBP

5p ordinary

 SWAP

Long

45,192

2.4301 GBP

5p ordinary

 SWAP

Long

59,130

2.4102 GBP

5p ordinary

 SWAP

Long

74,191

2.4109 GBP

5p ordinary

 SWAP

Long

113,015

2.4136 GBP

5p ordinary

 SWAP

Short

363

2.3375 GBP

5p ordinary

 SWAP

Short

1,055

2.3914 GBP

5p ordinary

 SWAP

Short

2,866

2.3645 GBP

5p ordinary

 SWAP

Short

4,325

2.3850 GBP

5p ordinary

 SWAP

Short

5,998

2.3352 GBP

5p ordinary

 SWAP

Short

9,127

2.3701 GBP

5p ordinary

 CFD

Short

9,860

2.3808 GBP

5p ordinary

 SWAP

Short

12,789

2.4560 GBP

5p ordinary

 SWAP

Short

17,558

2.4444 GBP

5p ordinary

 SWAP

Short

26,543

2.3300 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:

27 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213