Proxy Alerts,

National Express Shareholder Resolution

National Express (NAT:LSE): Vote for a shareholder proposal asking National Express to conduct an independent review of its North American school bus operations to address continuing reports coming from the Company’s North American operations employees claiming management interference with their freedom of association rights.

By implementing an independent review, National Express would give confidence to shareholders that allegations of poor practice are taken seriously, and that positive relations with its employees are prioritised. This would allow management to focus on managing business development free from the reputational and operational risks posed by these damaging concerns. It would provide an opportunity to move beyond the current impasse, and allow all parties within Durham School Services (North American operation) to focus on the job of building on the success of the business, in a responsible and sustainable way. This would contribute to long term shareholder value for us as investors, bolster the brand name integrity of National Express, reduce its human rights risks exposure, and, in turn, contribute to reducing reputational risks.

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