Atlas Iron : Change of Director's Interest Notice

Name of Director

Kenneth Edward Brinsden

Date of last notice

5 March 2015

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.

 222,259 fully paid ordinary shares.

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

Date of change

30 March 2015

No. of securities held prior to change

1. 704,367 fully paid ordinary shares.

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

3. 987,638 performance rights.

4. 2,302,994 share appreciation rights

Class

Fully paid ordinary shares.

Number acquired

5,378 fully paid ordinary shares.

Number disposed

N/A

Value/Consideration

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

$0.15 per ordinary share totalling $833.58 in consideration.

No. of securities held after change

1. 709,745 fully paid ordinary fully paid shares.

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

3. 987,638 performance rights.

4. 2,302,994 share appreciation rights

Notes:

1. 3,289 fully paid ordinary shares are restricted until 1

July 2016 and 3,289 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

A total of 5,378 fully paid ordinary shares were acquired and are held by the Atlas Employee Share Trust on behalf of Mr Brinsden as a participant in the Atlas Employee

Share Plan:

1. 2,689 fully paid ordinary shares acquired under Mr Brinsden's salary sacrifice arrangements, restricted until 1 July 2016; and

2. 2,689 fully paid ordinary shares acquired, matched and paid for by Atlas, restricted until 1 July 2017.

Notes:

1. Fully paid ordinary shares which have been matched by Atlas and which are subject to a restriction period are generally forfeited upon cessation of employment. The exception to this is where an employee is a good leaver under the Plan Rules; and

2. The sale of any fully paid ordinary shares acquired under salary sacrifice arrangements, after the restriction period ends, but before the restriction period ends for the related fully paid ordinary share matched by Atlas, results in the fully paid ordinary share matched by Atlas being forfeited.

Detail of contract

N/A

Nature of interest

N/A

Name of registered holder

(if issued securities)

N/A

Date of change

N/A

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in

relation to which the interest has changed

N/A

Interest acquired

N/A

Interest disposed

N/A

Value/Consideration

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

N/A

Interest after change

N/A

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