X0304 4 2012-03-12 0 0000764065 CLIFFS NATURAL RESOURCES INC. CLF 0001459005 PRICE DUNCAN LEVEL 12, THE QUADRANT 1 WILLIAM STREET PERTH C3 6000 AUSTRALIA 0 1 0 0 EVP,Global Operations Common Stock 2012-03-12 4 A 0 3820 0.00 A 6510 D Reflects the number of restricted share units granted to the Reporting Person on March 12, 2012 for the Performance Period 2012 to 2014 from the Issuer's Amended and Restated Cliffs 2007 Incentive Equity Plan. /s/ Keirsten Riedel By Power of Attorney 2012-03-14