Appendix 3Y Change of Director's Interest Notice Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.


Introduced 30/09/01 Amended 01/01/11

Name of entity Atlas Iron Limited

ABN 63 110 396 168

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director

Kenneth Edward Brinsden

Date of last notice

8 August 2014

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest

Direct & Indirect

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

Indirect - Spouse, Fiona Brinsden.

214,500 fully paid ordinary shares.

750,000 unlisted options expiring 30 June 2015 exercisable at an exercise price of $2.80.

Date of change

15 August 2014

No. of securities held prior to change

1. 565,962 fully paid ordinary shares.

2. 750,000 unlisted options expiring 30 June 2015 at an exercise price of $2.80.

3. 1,205,028 performance rights.

4. 2,724,046 share appreciation rights.

Class

Ordinary shares

Number acquired

94,032 ordinary shares acquired pursuant to partial vesting of performance rights (for the performance period ending 30 June 2014) granted under the Atlas Long Term Incentive Plan to Mr Brinsden, and approved by shareholders on 31 October 2012.

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

Number disposed

The following performance rights and share appreciation rights (for the performance period ending 30 June 2014) have lapsed unvested:

1. 123,358 performance rights.

2. 421,052 share appreciation rights.

Value/Consideration

Note: If consideration is non‐cash, provide details and estimated valuation

94,032 ordinary shares were issued at no cost pursuant to partial vesting of performance rights (for the performance period ending 30 June 2014).

No. of securities held after change

1. 659,994 fully paid ordinary fully paid shares.

2. 750,000 unlisted options expiring 30/06/15 at an exercise price of $2.80.

3. 987,638 performance rights.

4. 2,302,994 share appreciation rights. Notes:

1. 731 fully paid ordinary shares are restricted until 1 July

2016 and 731 fully paid ordinary shares are restricted until 1 July 2017.

2. 730,785 performance rights and 1,732,114 share appreciation rights have been issued pursuant to the Atlas Long Term Incentive Plan. These rights are subject to Total Shareholder Return and Earnings per Share targets to be measured over the period from 1

July 2013 to 30 June 2016.

3. 256,853 performance rights and 570,880 share appreciation rights have been issued pursuant to the Atlas Long Term Incentive Plan. These rights are subject to Total Shareholder Return and Iron Ore Shipping targets to be measured over the period 1

July 2012 to 30 June 2015.

Nature of change

Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐ back

94,032 ordinary shares acquired pursuant to partial vesting of performance rights (for the performance period ending 30 June 2014) granted under the Atlas Long Term Incentive Plan (approved by shareholders on 31 October

2012), and held by the Atlas Employee Share Trust on behalf of Mr Brinsden.

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract

N/A

Nature of interest

N/A

+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

Part 3 - +Closed period Appendix 3Y Change of Director's Interest Notice

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written

clearance was required?

N/A

If so, was prior written clearance provided to allow the trade to proceed during this period?

N/A

If prior written clearance was provided, on what date was this provided?

N/A

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

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