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 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:

2,539,393

0.41%

7,764,286

1.26%

(2)

Cash-settled derivatives:

7,360,431

1.20%

2,221,495

0.36%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,899,824

1.61%

9,985,781

1.63%

(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

10

2.3440 GBP

5p ordinary

Purchase

269

2.3252 GBP

5p ordinary

Purchase

444

2.3184 GBP

5p ordinary

Purchase

542

2.3480 GBP

5p ordinary

Purchase

758

2.3371 GBP

5p ordinary

Purchase

1,289

2.3292 GBP

5p ordinary

Purchase

1,554

2.3427 GBP

5p ordinary

Purchase

2,883

2.3285 GBP

5p ordinary

Purchase

3,498

2.3391 GBP

5p ordinary

Purchase

4,087

2.3381 GBP

5p ordinary

Purchase

5,874

2.3377 GBP

5p ordinary

Purchase

6,483

2.3399 GBP

5p ordinary

Purchase

7,598

2.3272 GBP

5p ordinary

Purchase

8,313

2.3335 GBP

5p ordinary

Purchase

20,813

2.3351 GBP

5p ordinary

Purchase

28,271

2.3396 GBP

5p ordinary

Purchase

49,992

2.3331 GBP

5p ordinary

Purchase

66,637

2.3420 GBP

5p ordinary

Sale

480

2.3260 GBP

5p ordinary

Sale

854

2.3400 GBP

5p ordinary

Sale

969

2.3424 GBP

5p ordinary

Sale

1,443

2.3259 GBP

5p ordinary

Sale

2,295

2.3375 GBP

5p ordinary

Sale

4,166

2.3319 GBP

5p ordinary

Sale

7,501

2.3378 GBP

5p ordinary

Sale

13,160

2.3374 GBP

5p ordinary

Sale

16,949

2.3421 GBP

5p ordinary

Sale

60,659

2.3368 GBP

5p ordinary

Sale

70,588

2.3387 GBP

5p ordinary

Sale

94,710

2.3420 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

120

2.3299 GBP

5p ordinary

 SWAP

Long

358

2.3320 GBP

5p ordinary

 SWAP

Long

603

2.3432 GBP

5p ordinary

 SWAP

Long

969

2.3424 GBP

5p ordinary

 SWAP

Long

1,345

2.3223 GBP

5p ordinary

 SWAP

Long

1,360

2.3377 GBP

5p ordinary

 CFD

Long

5,023

2.3256 GBP

5p ordinary

 SWAP

Long

6,898

2.3374 GBP

5p ordinary

 SWAP

Long

7,305

2.3315 GBP

5p ordinary

 SWAP

Long

8,944

2.3389 GBP

5p ordinary

 CFD

Long

9,848

2.3319 GBP

5p ordinary

 SWAP

Long

14,500

2.3420 GBP

5p ordinary

 SWAP

Long

33,278

2.3419 GBP

5p ordinary

 SWAP

Long

57,550

2.3365 GBP

5p ordinary

 CFD

Long

91,369

2.3420 GBP

5p ordinary

 CFD

Short

13

2.3423 GBP

5p ordinary

 SWAP

Short

269

2.3252 GBP

5p ordinary

 SWAP

Short

444

2.3184 GBP

5p ordinary

 SWAP

Short

758

2.3371 GBP

5p ordinary

 SWAP

Short

1,289

2.3292 GBP

5p ordinary

 SWAP

Short

2,619

2.3378 GBP

5p ordinary

 SWAP

Short

2,883

2.3285 GBP

5p ordinary

 SWAP

Short

3,294

2.3394 GBP

5p ordinary

 SWAP

Short

4,087

2.3381 GBP

5p ordinary

 SWAP

Short

6,132

2.3386 GBP

5p ordinary

 SWAP

Short

6,483

2.3399 GBP

5p ordinary

 SWAP

Short

7,076

2.3223 GBP

5p ordinary

 CFD

Short

12,782

2.3290 GBP

5p ordinary

 SWAP

Short

18,561

2.3350 GBP

5p ordinary

 CFD

Short

20,813

2.3351 GBP

5p ordinary

 SWAP

Short

25,079

2.3348 GBP

5p ordinary

 SWAP

Short

66,624

2.3420 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 Mar 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213