X0303 4 2009-03-05 0 0000764065 CLIFFS NATURAL RESOURCES INC. CLF 0001328270 Carrabba Joseph A 200 PUBLIC SQUARE SUITE 3300 CLEVELAND OH 44114-2315 1 1 0 0 Chairman, Pres. & CEO Common Stock 2009-03-05 4 A 0 84660 15.43 A 172911 D Common Stock 2009-03-05 4 F 0 30687 15.43 D 142224 D Common Stock 2130 I VNQDC Retention Units 2006-2008 2009-03-05 4 D 0 9960 25.61 D Common Shares 9960 0 D Acquisition of shares as a result of a payout in Common Stock of Performance Shares earned under the Cleveland-Cliffs Inc 1992 Equity Plan (as Amended and Restated as of May 13, 1997) as amended ("Plan"), for the 2006-2008 Performance Period. Surrender of Performance Shares represented in footnote (1) in payment of the related tax liability incurred by the reporting person. Convertible into Common Shares on a 1-for-1 basis. Represents a payout of Retention Units to the Reporting Person under the Cleveland-Cliffs Inc Long-Term Incentive Program of the Plan covering the period January 1, 2006 through December 31, 2008 (Incentive Period). Payment of the Retention Units was made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on December 31, 2008 pursuant to the Plan. Joseph A. Carrabba 2009-03-06