Barclays Regulatory News (BARC)

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:

01 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:

2,370,704

0.39%

7,729,289

1.26%

(2)

Cash-settled derivatives:

7,422,405

1.21%

2,160,079

0.35%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,793,109

1.59%

9,889,368

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

200

2.3190 GBP

5p ordinary

Purchase

395

2.3111 GBP

5p ordinary

Purchase

768

2.3320 GBP

5p ordinary

Purchase

795

2.3245 GBP

5p ordinary

Purchase

796

2.3230 GBP

5p ordinary

Purchase

1,082

2.3140 GBP

5p ordinary

Purchase

1,513

2.3196 GBP

5p ordinary

Purchase

2,008

2.3194 GBP

5p ordinary

Purchase

2,130

2.3135 GBP

5p ordinary

Purchase

5,248

2.3207 GBP

5p ordinary

Purchase

7,336

2.3128 GBP

5p ordinary

Purchase

7,655

2.3218 GBP

5p ordinary

Purchase

16,192

2.3060 GBP

5p ordinary

Purchase

16,509

2.3197 GBP

5p ordinary

Purchase

31,576

2.3112 GBP

5p ordinary

Purchase

53,545

2.3160 GBP

5p ordinary

Sale

74

2.3161 GBP

5p ordinary

Sale

217

2.3220 GBP

5p ordinary

Sale

234

2.3076 GBP

5p ordinary

Sale

275

2.3200 GBP

5p ordinary

Sale

428

2.3160 GBP

5p ordinary

Sale

1,129

2.3140 GBP

5p ordinary

Sale

2,425

2.3164 GBP

5p ordinary

Sale

2,615

2.3061 GBP

5p ordinary

Sale

3,021

2.3175 GBP

5p ordinary

Sale

7,421

2.3226 GBP

5p ordinary

Sale

7,466

2.3132 GBP

5p ordinary

Sale

11,174

2.3182 GBP

5p ordinary

Sale

19,337

2.3060 GBP

5p ordinary

Sale

25,710

2.3159 GBP

5p ordinary

Sale

56,260

2.3167 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

177

2.3219 GBP

5p ordinary

 SWAP

Long

427

2.3136 GBP

5p ordinary

 SWAP

Long

907

2.3141 GBP

5p ordinary

 SWAP

Long

2,066

2.3185 GBP

5p ordinary

 SWAP

Long

3,753

2.3167 GBP

5p ordinary

 SWAP

Long

6,994

2.3232 GBP

5p ordinary

 SWAP

Long

8,910

2.3059 GBP

5p ordinary

 SWAP

Long

11,229

2.3180 GBP

5p ordinary

 CFD

Long

19,337

2.3059 GBP

5p ordinary

 SWAP

Long

46,443

2.3188 GBP

5p ordinary

 SWAP

Short

200

2.3190 GBP

5p ordinary

 SWAP

Short

768

2.3320 GBP

5p ordinary

 SWAP

Short

1,700

2.3210 GBP

5p ordinary

 SWAP

Short

1,835

2.3218 GBP

5p ordinary

 CFD

Short

4,101

2.3061 GBP

5p ordinary

 SWAP

Short

4,159

2.3132 GBP

5p ordinary

 SWAP

Short

4,744

2.3158 GBP

5p ordinary

 SWAP

Short

5,709

2.3181 GBP

5p ordinary

 SWAP

Short

7,336

2.3128 GBP

5p ordinary

 SWAP

Short

12,199

2.3134 GBP

5p ordinary

 CFD

Short

16,192

2.3059 GBP

5p ordinary

 SWAP

Short

25,447

2.3154 GBP

5p ordinary

 SWAP

Short

26,441

2.3213 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:

4 Apr 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213