IRON ROAD LIMITED — Director's Dealing 2013

May 28, 2013

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 IRON ROAD LIMITED ABN 51 128 698 108

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	JEREMY KITSON ELLIS
Date of last notice	24 AUGUST 2011

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	AnnieOceaniaP/LATFEllis
(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Superannuation Fund (company of whichthe director is a beneficiary)
	Iron Road Limited Share Options issued
	to Iron Road Employee and Contractor
	Option Share Trust for the beneficial
	interest of Mr Jeremy Kitson Ellis
Date of change	11 September 2012
No. of securities held prior to change	80,000 Fully Paid Ordinary Shares
	500,000 Unlisted Options exercisable at
	$1.00 expiring 25 July 2016
Class	Fully Paid Ordinary Shares
Number acquired	62,000

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$19,840
No. of securities held after change	142,000 Fully Paid Ordinary Shares500,000 Unlisted Options exercisable at$1.00 expiring 25 July 2016
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Participation in retail component ofEntitlement Offer announced by IronRoad on 2 August 2012.

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	NIL
Nature of interest	NIL
Name of registered holder(if issued securities)	NIL
Date of change	NIL
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	NIL
Interest acquired	NIL
Interest disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	NIL
Interest after change	NIL

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	N/A
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

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