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CLEVELAND-CLIFFS INC. Director's Dealing 2015

May 27, 2015

30881_dirs_2015-05-27_79f54600-ab44-4f45-b972-1fb677e21c59.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2015-05-26

Reporting Person: SIEGAL MICHAEL D (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2015-05-26 Common Shares P 9500 $5.20 Acquired 16700 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Shares 17010 Direct
Depositary Shares 2500 Indirect

Footnotes

F1: The price reported in column four is a weighted average price. These shares were purchased by the Reporting Person in multiple transactions all at $5.20. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares purchased at each separate price within this range.

F2: Depositary shares each representing 1/40th interest in a share of the Issuer's 7.00% Series A Mandatory Convertible Preferred Stock.