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:

14 March 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:

2,552,739

0.42%

8,038,543

1.31%

(2)

Cash-settled derivatives:

7,454,797

1.21%

1,857,990

0.30%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

10,007,536

1.63%

9,896,533

1.61%

(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

205

2.4040 GBP

5p ordinary

Purchase

413

2.4486 GBP

5p ordinary

Purchase

671

2.4019 GBP

5p ordinary

Purchase

1,000

2.3700 GBP

5p ordinary

Purchase

1,143

2.4143 GBP

5p ordinary

Purchase

1,291

2.4724 GBP

5p ordinary

Purchase

1,605

2.3983 GBP

5p ordinary

Purchase

2,604

2.3920 GBP

5p ordinary

Purchase

2,693

2.4000 GBP

5p ordinary

Purchase

2,780

2.4075 GBP

5p ordinary

Purchase

3,092

2.3843 GBP

5p ordinary

Purchase

3,365

2.3809 GBP

5p ordinary

Purchase

3,859

2.5000 GBP

5p ordinary

Purchase

4,848

2.3771 GBP

5p ordinary

Purchase

6,012

2.3841 GBP

5p ordinary

Purchase

12,458

2.3746 GBP

5p ordinary

Purchase

17,280

2.3518 GBP

5p ordinary

Purchase

31,975

2.4017 GBP

5p ordinary

Purchase

39,281

2.4020 GBP

5p ordinary

Purchase

50,000

2.3884 GBP

5p ordinary

Purchase

96,011

2.3744 GBP

5p ordinary

Purchase

261,655

2.4047 GBP

5p ordinary

Purchase

359,914

2.3520 GBP

5p ordinary

Purchase

868,334

2.4808 GBP

5p ordinary

Sale

66

2.3851 GBP

5p ordinary

Sale

205

2.4040 GBP

5p ordinary

Sale

494

2.3790 GBP

5p ordinary

Sale

1,028

2.4436 GBP

5p ordinary

Sale

1,035

2.4177 GBP

5p ordinary

Sale

1,425

2.3916 GBP

5p ordinary

Sale

1,552

2.3907 GBP

5p ordinary

Sale

2,270

2.4480 GBP

5p ordinary

Sale

2,376

2.3911 GBP

5p ordinary

Sale

2,548

2.4547 GBP

5p ordinary

Sale

2,693

2.4000 GBP

5p ordinary

Sale

3,053

2.5000 GBP

5p ordinary

Sale

3,355

2.3920 GBP

5p ordinary

Sale

3,411

2.4059 GBP

5p ordinary

Sale

3,859

2.5002 GBP

5p ordinary

Sale

3,943

2.3924 GBP

5p ordinary

Sale

4,597

2.4649 GBP

5p ordinary

Sale

4,756

2.3859 GBP

5p ordinary

Sale

16,458

2.4209 GBP

5p ordinary

Sale

20,000

2.4980 GBP

5p ordinary

Sale

24,071

2.3520 GBP

5p ordinary

Sale

24,330

2.3639 GBP

5p ordinary

Sale

31,905

2.3880 GBP

5p ordinary

Sale

32,646

2.4020 GBP

5p ordinary

Sale

93,922

2.4153 GBP

5p ordinary

Sale

153,329

2.4108 GBP

5p ordinary

Sale

813,637

2.4810 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

5p ordinary

 CFD

Long

66

2.3851 GBP

5p ordinary

 SWAP

Long

660

2.3838 GBP

5p ordinary

 SWAP

Long

919

2.4080 GBP

5p ordinary

 CFD

Long

1,277

2.4700 GBP

5p ordinary

 SWAP

Long

1,685

2.3519 GBP

5p ordinary

 SWAP

Long

2,210

2.4046 GBP

5p ordinary

 CFD

Long

3,776

2.3519 GBP

5p ordinary

 SWAP

Long

7,212

2.4010 GBP

5p ordinary

 SWAP

Long

9,246

2.4364 GBP

5p ordinary

 SWAP

Long

16,203

2.3801 GBP

5p ordinary

 SWAP

Long

33,472

2.4378 GBP

5p ordinary

 SWAP

Long

59,841

2.4034 GBP

5p ordinary

 SWAP

Long

118,172

2.4039 GBP

5p ordinary

 CFD

Short

12

2.3516 GBP

5p ordinary

 CFD

Short

23

2.3521 GBP

5p ordinary

 CFD

Short

1,291

2.4724 GBP

5p ordinary

 SWAP

Short

1,605

2.3983 GBP

5p ordinary

 SWAP

Short

2,354

2.4093 GBP

5p ordinary

 SWAP

Short

3,092

2.3843 GBP

5p ordinary

 SWAP

Short

3,397

2.4086 GBP

5p ordinary

 CFD

Short

3,766

2.3522 GBP

5p ordinary

 SWAP

Short

4,846

2.3893 GBP

5p ordinary

 CFD

Short

6,993

2.4282 GBP

5p ordinary

 SWAP

Short

8,804

2.3935 GBP

5p ordinary

 SWAP

Short

22,989

2.3793 GBP

5p ordinary

 SWAP

Short

36,949

2.3730 GBP

5p ordinary

 SWAP

Short

42,398

2.3632 GBP

5p ordinary

 CFD

Short

78,952

2.3519 GBP

5p ordinary

 SWAP

Short

256,809

2.4049 GBP

5p ordinary

 CFD

Short

280,927

2.3520 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:

15 Mar 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213