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:

11 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:

2,069,482

0.34%

7,742,549

1.26%

(2)

Cash-settled derivatives:

7,520,342

1.22%

1,993,190

0.32%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,589,824

1.56%

9,735,739

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

322

2.3344 GBP

5p ordinary

Purchase

364

2.3180 GBP

5p ordinary

Purchase

368

2.3300 GBP

5p ordinary

Purchase

954

2.3600 GBP

5p ordinary

Purchase

1,644

2.3229 GBP

5p ordinary

Purchase

2,189

2.3190 GBP

5p ordinary

Purchase

3,890

2.3499 GBP

5p ordinary

Purchase

4,296

2.3484 GBP

5p ordinary

Purchase

5,109

2.3307 GBP

5p ordinary

Purchase

5,223

2.3271 GBP

5p ordinary

Purchase

5,728

2.3306 GBP

5p ordinary

Purchase

8,286

2.3310 GBP

5p ordinary

Purchase

11,103

2.3221 GBP

5p ordinary

Purchase

15,770

2.3652 GBP

5p ordinary

Purchase

16,316

2.3497 GBP

5p ordinary

Purchase

22,768

2.3264 GBP

5p ordinary

Purchase

26,614

2.3309 GBP

5p ordinary

Purchase

29,951

2.3623 GBP

5p ordinary

Sale

80

2.3580 GBP

5p ordinary

Sale

277

2.3300 GBP

5p ordinary

Sale

302

2.3679 GBP

5p ordinary

Sale

406

2.3661 GBP

5p ordinary

Sale

441

2.3380 GBP

5p ordinary

Sale

472

2.3280 GBP

5p ordinary

Sale

1,084

2.3510 GBP

5p ordinary

Sale

1,558

2.3617 GBP

5p ordinary

Sale

2,034

2.3341 GBP

5p ordinary

Sale

2,238

2.3660 GBP

5p ordinary

Sale

2,249

2.3564 GBP

5p ordinary

Sale

2,557

2.3205 GBP

5p ordinary

Sale

5,964

2.3273 GBP

5p ordinary

Sale

15,756

2.3443 GBP

5p ordinary

Sale

22,708

2.3551 GBP

5p ordinary

Sale

30,000

2.3632 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

302

2.3679 GBP

5p ordinary

 SWAP

Long

1,362

2.3307 GBP

5p ordinary

 SWAP

Long

1,558

2.3617 GBP

5p ordinary

 SWAP

Long

3,810

2.3398 GBP

5p ordinary

 SWAP

Long

4,819

2.3660 GBP

5p ordinary

 CFD

Long

5,745

2.3361 GBP

5p ordinary

 SWAP

Long

9,447

2.3654 GBP

5p ordinary

 CFD

Long

15,756

2.3443 GBP

5p ordinary

 SWAP

Short

122

2.3479 GBP

5p ordinary

 SWAP

Short

200

2.3230 GBP

5p ordinary

 CFD

Short

973

2.3101 GBP

5p ordinary

 SWAP

Short

1,352

2.3238 GBP

5p ordinary

 CFD

Short

1,644

2.3229 GBP

5p ordinary

 SWAP

Short

2,174

2.3140 GBP

5p ordinary

 SWAP

Short

3,590

2.3404 GBP

5p ordinary

 SWAP

Short

4,260

2.3487 GBP

5p ordinary

 SWAP

Short

4,434

2.3453 GBP

5p ordinary

 CFD

Short

5,109

2.3307 GBP

5p ordinary

 SWAP

Short

7,543

2.3268 GBP

5p ordinary

 SWAP

Short

10,097

2.3254 GBP

5p ordinary

 CFD

Short

11,103

2.3221 GBP

5p ordinary

 CFD

Short

15,770

2.3652 GBP

5p ordinary

 SWAP

Short

16,316

2.3497 GBP

5p ordinary

 SWAP

Short

20,200

2.3355 GBP

5p ordinary

 CFD

Short

22,768

2.3264 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:

12 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213