BISALLOY STEEL GROUP LIMITED — Director's Dealing 2012

May 27, 2012

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28 May 2012

ASX Market Announcements Australian Stock Exchange Limited Level 4, 20 Bridge Street Sydney NSW 2000

Change in Directors’ Interests

Attached is an Appendix 3Y in respect of a change in the directors’ interests of Mr P Cave.

Regards

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David MacLaughlin Company Secretary

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Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

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 Bisalloy Steel Group Ltd ABN 22 098 674 545

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 Mr Phillip Cave

Date of last notice 21 September 2009

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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevant	1. Interb Investments Pty Ltd (CaveProvident Fund Acc)
interest.	2. Anchorage (BSG) Pty Ltd
Date of change	22 - 25 May 2012
No. of securities held prior to change	8,540,389
Class	Ordinary
Number acquired
Number disposed	1. 67,970
	2. 0
Value/Consideration	$100,204
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	8,472,419

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change On-market disposal Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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 Nature of interest Name of registered holder (if issued securities) Date of change 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 Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed	Yes
above traded during a+closed period where prior written
clearance was required?
If so, was prior written clearance provided to allow the trade	Yes
to proceed during this period?
If prior written clearance was provided, on what date was this	21 May 2012
provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011