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:

19 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:

2,138,745

0.35%

7,556,403

1.23%

(2)

Cash-settled derivatives:

7,271,476

1.18%

2,028,535

0.33%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,410,221

1.53%

9,584,938

1.56%

(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

64

2.3470 GBP

5p ordinary

Purchase

107

2.3230 GBP

5p ordinary

Purchase

422

2.3320 GBP

5p ordinary

Purchase

713

2.3136 GBP

5p ordinary

Purchase

991

2.3308 GBP

5p ordinary

Purchase

1,153

2.3411 GBP

5p ordinary

Purchase

1,162

2.3106 GBP

5p ordinary

Purchase

1,893

2.3478 GBP

5p ordinary

Purchase

2,135

2.3260 GBP

5p ordinary

Purchase

2,495

2.3209 GBP

5p ordinary

Purchase

3,049

2.3364 GBP

5p ordinary

Purchase

3,204

2.3394 GBP

5p ordinary

Purchase

5,887

2.3380 GBP

5p ordinary

Purchase

6,090

2.3433 GBP

5p ordinary

Purchase

6,998

2.3309 GBP

5p ordinary

Purchase

7,120

2.3468 GBP

5p ordinary

Purchase

7,275

2.3392 GBP

5p ordinary

Purchase

7,873

2.3266 GBP

5p ordinary

Purchase

12,074

2.3190 GBP

5p ordinary

Purchase

13,036

2.3329 GBP

5p ordinary

Purchase

17,147

2.3423 GBP

5p ordinary

Purchase

18,566

2.3239 GBP

5p ordinary

Purchase

101,102

2.3480 GBP

5p ordinary

Sale

196

2.3407 GBP

5p ordinary

Sale

274

2.3340 GBP

5p ordinary

Sale

422

2.3320 GBP

5p ordinary

Sale

501

2.2940 GBP

5p ordinary

Sale

946

2.3379 GBP

5p ordinary

Sale

973

2.3400 GBP

5p ordinary

Sale

2,385

2.3436 GBP

5p ordinary

Sale

4,592

2.3380 GBP

5p ordinary

Sale

6,599

2.3387 GBP

5p ordinary

Sale

10,953

2.3397 GBP

5p ordinary

Sale

17,406

2.3413 GBP

5p ordinary

Sale

62,460

2.3289 GBP

5p ordinary

Sale

67,138

2.3480 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

535

2.3291 GBP

5p ordinary

 SWAP

Long

2,385

2.3436 GBP

5p ordinary

 SWAP

Long

4,267

2.3283 GBP

5p ordinary

 SWAP

Long

6,425

2.3480 GBP

5p ordinary

 CFD

Long

17,406

2.3413 GBP

5p ordinary

 CFD

Long

58,238

2.3480 GBP

5p ordinary

 SWAP

Short

713

2.3136 GBP

5p ordinary

 SWAP

Short

1,162

2.3106 GBP

5p ordinary

 SWAP

Short

2,729

2.3347 GBP

5p ordinary

 SWAP

Short

3,376

2.3366 GBP

5p ordinary

 SWAP

Short

4,059

2.3378 GBP

5p ordinary

 SWAP

Short

7,275

2.3392 GBP

5p ordinary

 SWAP

Short

7,354

2.3310 GBP

5p ordinary

 SWAP

Short

9,447

2.3316 GBP

5p ordinary

 SWAP

Short

101,102

2.3480 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:

20 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213