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 May 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:

2,537,869

0.41%

8,785,670

1.43%

(2)

Cash-settled derivatives:

15,488,489

2.52%

2,131,147

0.35%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

18,026,358

2.94%

10,916,817

1.78%

(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

207

2.4280 GBP

5p ordinary

Purchase

349

2.4260 GBP

5p ordinary

Purchase

394

2.4635 GBP

5p ordinary

Purchase

420

2.4460 GBP

5p ordinary

Purchase

528

2.4300 GBP

5p ordinary

Purchase

1,758

2.4339 GBP

5p ordinary

Purchase

2,046

2.4484 GBP

5p ordinary

Purchase

2,078

2.4456 GBP

5p ordinary

Purchase

3,133

2.4540 GBP

5p ordinary

Purchase

4,311

2.4615 GBP

5p ordinary

Purchase

7,583

2.4465 GBP

5p ordinary

Purchase

7,813

2.4449 GBP

5p ordinary

Purchase

15,028

2.4522 GBP

5p ordinary

Purchase

28,248

2.4372 GBP

5p ordinary

Sale

341

2.4340 GBP

5p ordinary

Sale

426

2.4000 GBP

5p ordinary

Sale

511

2.4540 GBP

5p ordinary

Sale

556

2.4268 GBP

5p ordinary

Sale

559

2.4180 GBP

5p ordinary

Sale

563

2.4020 GBP

5p ordinary

Sale

839

2.4452 GBP

5p ordinary

Sale

896

2.4169 GBP

5p ordinary

Sale

911

2.4299 GBP

5p ordinary

Sale

1,030

2.4559 GBP

5p ordinary

Sale

1,100

2.4610 GBP

5p ordinary

Sale

1,396

2.4125 GBP

5p ordinary

Sale

1,614

2.4378 GBP

5p ordinary

Sale

1,700

2.4100 GBP

5p ordinary

Sale

2,962

2.4622 GBP

5p ordinary

Sale

3,108

2.4431 GBP

5p ordinary

Sale

3,523

2.4480 GBP

5p ordinary

Sale

3,570

2.4541 GBP

5p ordinary

Sale

4,491

2.4496 GBP

5p ordinary

Sale

5,196

2.4187 GBP

5p ordinary

Sale

11,505

2.4534 GBP

5p ordinary

Sale

15,703

2.4488 GBP

5p ordinary

Sale

30,877

2.4420 GBP

5p ordinary

Sale

32,920

2.4401 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

361

2.4505 GBP

5p ordinary

 CFD

Long

504

2.4540 GBP

5p ordinary

 SWAP

Long

609

2.4540 GBP

5p ordinary

 SWAP

Long

1,253

2.4342 GBP

5p ordinary

 SWAP

Long

1,683

2.4222 GBP

5p ordinary

 SWAP

Long

1,707

2.4487 GBP

5p ordinary

 SWAP

Long

2,338

2.4442 GBP

5p ordinary

 SWAP

Long

2,374

2.4401 GBP

5p ordinary

 SWAP

Long

2,452

2.4539 GBP

5p ordinary

 SWAP

Long

5,468

2.4254 GBP

5p ordinary

 CFD

Long

13,801

2.4488 GBP

5p ordinary

 CFD

Long

15,047

2.4515 GBP

5p ordinary

 SWAP

Long

15,612

2.4314 GBP

5p ordinary

 SWAP

Long

22,957

2.4447 GBP

5p ordinary

 SWAP

Short

187

2.4502 GBP

5p ordinary

 SWAP

Short

394

2.4635 GBP

5p ordinary

 CFD

Short

504

2.4540 GBP

5p ordinary

 CFD

Short

837

2.3981 GBP

5p ordinary

 SWAP

Short

2,046

2.4484 GBP

5p ordinary

 SWAP

Short

5,223

2.4496 GBP

5p ordinary

 SWAP

Short

7,920

2.4275 GBP

5p ordinary

 SWAP

Short

8,639

2.4514 GBP

5p ordinary

 SWAP

Short

15,333

2.4370 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 May 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213