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:

28 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:

2,681,845

0.44%

8,545,033

1.39%

(2)

Cash-settled derivatives:

14,490,093

2.36%

2,093,743

0.34%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

17,171,938

2.80%

10,638,776

1.73%

(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

121

2.4972 GBP

5p ordinary

Purchase

121

2.4778 GBP

5p ordinary

Purchase

442

2.4910 GBP

5p ordinary

Purchase

499

2.4540 GBP

5p ordinary

Purchase

703

2.4689 GBP

5p ordinary

Purchase

837

2.4836 GBP

5p ordinary

Purchase

929

2.4736 GBP

5p ordinary

Purchase

1,151

2.4904 GBP

5p ordinary

Purchase

1,476

2.4438 GBP

5p ordinary

Purchase

1,489

2.4891 GBP

5p ordinary

Purchase

1,962

2.4990 GBP

5p ordinary

Purchase

2,300

2.4999 GBP

5p ordinary

Purchase

2,300

2.5000 GBP

5p ordinary

Purchase

2,304

2.4631 GBP

5p ordinary

Purchase

2,684

2.4746 GBP

5p ordinary

Purchase

2,950

2.4865 GBP

5p ordinary

Purchase

3,058

2.4637 GBP

5p ordinary

Purchase

4,905

2.4813 GBP

5p ordinary

Purchase

5,857

2.4887 GBP

5p ordinary

Purchase

7,666

2.4791 GBP

5p ordinary

Purchase

8,732

2.4802 GBP

5p ordinary

Purchase

9,409

2.4814 GBP

5p ordinary

Purchase

9,869

2.4878 GBP

5p ordinary

Purchase

10,670

2.4868 GBP

5p ordinary

Purchase

19,247

2.4900 GBP

5p ordinary

Purchase

22,352

2.4866 GBP

5p ordinary

Purchase

47,583

2.4863 GBP

5p ordinary

Purchase

112,290

2.4875 GBP

5p ordinary

Sale

30

2.4420 GBP

5p ordinary

Sale

37

2.4898 GBP

5p ordinary

Sale

1,328

2.4900 GBP

5p ordinary

Sale

2,025

2.4860 GBP

5p ordinary

Sale

2,300

2.5000 GBP

5p ordinary

Sale

4,303

2.4865 GBP

5p ordinary

Sale

7,064

2.4901 GBP

5p ordinary

Sale

8,557

2.4859 GBP

5p ordinary

Sale

8,645

2.4870 GBP

5p ordinary

Sale

8,776

2.4878 GBP

5p ordinary

Sale

14,960

2.4845 GBP

5p ordinary

Sale

21,917

2.4851 GBP

5p ordinary

Sale

32,038

2.4902 GBP

5p ordinary

Sale

60,043

2.4839 GBP

5p ordinary

Sale

106,311

2.4868 GBP

5p ordinary

Sale

137,507

2.4866 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

61

2.4518 GBP

5p ordinary

 SWAP

Long

475

2.4713 GBP

5p ordinary

 SWAP

Long

542

2.4497 GBP

5p ordinary

 CFD

Long

2,182

2.4901 GBP

5p ordinary

 SWAP

Long

7,469

2.4728 GBP

5p ordinary

 SWAP

Long

8,234

2.4903 GBP

5p ordinary

 CFD

Long

10,402

2.4910 GBP

5p ordinary

 SWAP

Long

14,714

2.4826 GBP

5p ordinary

 SWAP

Long

15,480

2.4871 GBP

5p ordinary

 CFD

Long

21,917

2.4851 GBP

5p ordinary

 SWAP

Long

31,563

2.4905 GBP

5p ordinary

 SWAP

Long

71,044

2.4882 GBP

5p ordinary

 SWAP

Short

121

2.4972 GBP

5p ordinary

 SWAP

Short

1,653

2.4822 GBP

5p ordinary

 SWAP

Short

1,962

2.4990 GBP

5p ordinary

 SWAP

Short

2,905

2.4643 GBP

5p ordinary

 SWAP

Short

3,100

2.4880 GBP

5p ordinary

 SWAP

Short

6,039

2.4817 GBP

5p ordinary

 SWAP

Short

9,409

2.4814 GBP

5p ordinary

 CFD

Short

11,816

2.4901 GBP

5p ordinary

 CFD

Short

17,037

2.4900 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:

29 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213