IRON ROAD LIMITED — Capital/Financing Update 2012

Apr 17, 2012

ASX Announcement

18 April 2012

Company Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

CLEANSING NOTICE UNDER SECTION 708A OF THE CORPORATIONS ACT 2001 (CTH)

As previously announced on 18 April 2012, Iron Road Limited ( Company ) has issued 15,783,047 fully paid ordinary shares at an issue price of $0.55 each to professional and sophisticated investors ( Placement Shares ) to raise approximately $8.68m (before costs).

In accordance with the requirements of section 708A(5)(e) of the Corporations Act 2001 ( Act ), under which this notice is given, the Company confirms that:

The issued shares are part of a class of securities quoted on ASX.

The Company gives notice of the following to ASX:

1. the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;

2. the Company is giving this notice under section 708A(5)(e) of the Act;

3. as at the date of this notice the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

4. as at the date of this notice there is no excluded information of the type referred to in subsections 708A(7) and 708A(8) of the Act.

Yours sincerely,

IRON ROAD LIMITED

Graham Anderson

Company Secretary