DOTZ NANO LIMITED — M&A Activity 2012

Jul 29, 2012

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NORTHERN IRON LIMITED (ASX: “NFE”)

Northern Iron Considers Indicative Proposals from Two Parties

30 July 2012

We refer to the company’s announcements of 15-May-2012 and 24-Jul-2012 regarding the conditional, indicative, non-binding stage one proposals from a subsidiary of Aditya Birla Group (“Aditya Birla Group”).

The revised proposal announced on 24-Jul-2012 referred to an indicative cash offer per share of A$1.40 (implied equity value of A$518m) for all NFE outstanding shares (“Revised Proposal”). The Revised Proposal is non-binding and subject to a number of conditions including satisfactory due diligence, management meetings and site visits.

The Board of Directors has now considered the Revised Proposal and will offer Aditya Birla Group detailed stage two due diligence including management meetings and site visits subject to agreement with Aditya Birla Group on appropriate terms to govern the process.

NFE also advises that before market open on 27 July 2012, Prominvest AG (a Swiss-based trading company) (“Prominvest”), submitted a highly conditional, indicative, non-binding stage one proposal at an indicative cash price of A$1.42 per share (implied equity value of A$525m) for all NFE outstanding shares (“Prominvest Proposal”). The Prominvest Proposal is subject to a number of conditions, including satisfactory due diligence, management meetings and site visits and assumes NFE net debt of USD 90 million. The Prominvest Proposal is valid for a period of 30 days, subject to extension at the election of Prominvest. The Prominvest Proposal also includes a request for exclusivity which the Board of Directors will not agree to at this stage.

Having engaged with Prominvest representatives to further understand their indicative proposal and financial capacity, the Board of Directors has now also considered the Prominvest Proposal. Subject to Prominvest withdrawing its request for exclusivity as well as agreement with Prominvest on appropriate terms to govern the process, the Board of Directors will offer Prominvest detailed stage two due diligence.

Subject to one or both of Aditya Birla Group and Prominvest participating in the due diligence process, NFE will engage with each relevant party to determine whether a binding proposal can be agreed that is capable of being put to NFE shareholders with the recommendation of the NFE Board. Such engagement will be undertaken having reference to the guiding principle of equal treatment for both Aditya Birla Group and Prominvest as stage two participants.

NFE will continue to update shareholders in relation to this process as appropriate.

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For and on behalf of the Board.

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John Sanderson Managing Director / CEO

For enquiries please contact: John Sanderson Tony Beckmand Managing Director / CEO Chief Financial Officer Ph: +47 9240 1251 Ph: +61 447 453 000 John.Sanderson@northerniron.com.au Antony.Beckmand@northerniron.com.au

Northern Iron Limited Level 3, 3 Ord Street West Perth WA 6005 Phone: +61 8 9321 9334 Fax: +61 8 9321 9335 www.northerniron.com.au

ABN: 71 125 264 575