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:

15 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:

3,050,518

0.50%

8,123,691

1.32%

(2)

Cash-settled derivatives:

7,496,770

1.22%

2,298,509

0.37%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

10,547,288

1.72%

10,422,200

1.70%

(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

2

2.3200 GBP

5p ordinary

Purchase

10

2.3292 GBP

5p ordinary

Purchase

22

2.3305 GBP

5p ordinary

Purchase

238

2.3340 GBP

5p ordinary

Purchase

503

2.3266 GBP

5p ordinary

Purchase

532

2.3180 GBP

5p ordinary

Purchase

966

2.3139 GBP

5p ordinary

Purchase

1,806

2.3363 GBP

5p ordinary

Purchase

2,071

2.3470 GBP

5p ordinary

Purchase

2,150

2.2958 GBP

5p ordinary

Purchase

3,070

2.3179 GBP

5p ordinary

Purchase

4,702

2.3147 GBP

5p ordinary

Purchase

5,358

2.3295 GBP

5p ordinary

Purchase

7,698

2.3276 GBP

5p ordinary

Purchase

9,152

2.3237 GBP

5p ordinary

Purchase

15,419

2.3370 GBP

5p ordinary

Purchase

17,728

2.3234 GBP

5p ordinary

Purchase

28,163

2.3187 GBP

5p ordinary

Purchase

103,971

2.2960 GBP

5p ordinary

Purchase

313,005

2.3235 GBP

5p ordinary

Purchase

324,475

2.3154 GBP

5p ordinary

Purchase

1,079,280

2.3274 GBP

5p ordinary

Sale

3

2.3160 GBP

5p ordinary

Sale

9

2.3026 GBP

5p ordinary

Sale

49

2.3356 GBP

5p ordinary

Sale

67

2.3195 GBP

5p ordinary

Sale

238

2.3340 GBP

5p ordinary

Sale

283

2.3327 GBP

5p ordinary

Sale

964

2.3260 GBP

5p ordinary

Sale

1,191

2.3113 GBP

5p ordinary

Sale

1,730

2.3240 GBP

5p ordinary

Sale

2,272

2.3267 GBP

5p ordinary

Sale

3,094

2.3014 GBP

5p ordinary

Sale

13,240

2.3259 GBP

5p ordinary

Sale

15,525

2.3075 GBP

5p ordinary

Sale

17,490

2.3382 GBP

5p ordinary

Sale

19,130

2.3288 GBP

5p ordinary

Sale

21,614

2.3321 GBP

5p ordinary

Sale

37,208

2.3050 GBP

5p ordinary

Sale

37,537

2.3276 GBP

5p ordinary

Sale

46,306

2.3247 GBP

5p ordinary

Sale

53,164

2.3262 GBP

5p ordinary

Sale

53,766

2.3273 GBP

5p ordinary

Sale

63,061

2.3057 GBP

5p ordinary

Sale

77,099

2.3184 GBP

5p ordinary

Sale

84,989

2.2960 GBP

5p ordinary

Sale

105,102

2.3130 GBP

5p ordinary

Sale

108,700

2.3265 GBP

5p ordinary

Sale

217,572

2.3280 GBP

5p ordinary

Sale

223,042

2.3254 GBP

5p ordinary

Sale

303,245

2.3279 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

67

2.3194 GBP

5p ordinary

 SWAP

Long

1,191

2.3113 GBP

5p ordinary

 CFD

Long

1,586

2.3118 GBP

5p ordinary

 SWAP

Long

1,771

2.3483 GBP

5p ordinary

 SWAP

Long

2,468

2.3080 GBP

5p ordinary

 SWAP

Long

3,614

2.3198 GBP

5p ordinary

 SWAP

Long

8,846

2.2960 GBP

5p ordinary

 SWAP

Long

10,140

2.2959 GBP

5p ordinary

 SWAP

Long

16,000

2.3255 GBP

5p ordinary

 SWAP

Long

21,614

2.3321 GBP

5p ordinary

 SWAP

Long

22,218

2.3201 GBP

5p ordinary

 CFD

Long

22,342

2.2959 GBP

5p ordinary

 SWAP

Long

37,208

2.3050 GBP

5p ordinary

 SWAP

Long

63,061

2.3057 GBP

5p ordinary

 SWAP

Long

77,099

2.3184 GBP

5p ordinary

 SWAP

Long

105,102

2.3130 GBP

5p ordinary

 CFD

Short

1,806

2.3363 GBP

5p ordinary

 SWAP

Short

2,156

2.3229 GBP

5p ordinary

 CFD

Short

7,604

2.3290 GBP

5p ordinary

 SWAP

Short

8,792

2.3171 GBP

5p ordinary

 CFD

Short

12,275

2.2962 GBP

5p ordinary

 SWAP

Short

13,581

2.3268 GBP

5p ordinary

 SWAP

Short

13,749

2.3228 GBP

5p ordinary

 SWAP

Short

14,323

2.2960 GBP

5p ordinary

 SWAP

Short

14,414

2.3147 GBP

5p ordinary

 CFD

Short

31,481

2.3285 GBP

5p ordinary

 SWAP

Short

47,008

2.3185 GBP

5p ordinary

 SWAP

Short

66,320

2.3122 GBP

5p ordinary

 CFD

Short

76,696

2.2960 GBP

5p ordinary

 SWAP

Short

96,066

2.3254 GBP

5p ordinary

 SWAP

Short

150,741

2.3139 GBP

5p ordinary

 SWAP

Short

235,861

2.3243 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:

16 Mar 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213