Cliffs Natural Resources Inc. Reports Continued Capital Spending Reduction and

Cost Improvements in Its Second-Quarter 2014 Results

• Decreases Year-over-Year Capital Spending by 77%, or $210 Million, to $61 Million and

Improves Cash-Cost-Per-Ton Rates Across All Business Segments

• Reports a Net Loss Attributable to Cliffs' Common Shareholders of $2 Million, or $0.01 Per

Diluted Share

• Reduces Full-Year Cash-Cost-Per-Ton Outlook for Bloom Lake Mine and Asia Pacific

Iron Ore

• Achieves Record Quarterly Sales Volume of 2 Million Tons at Bloom Lake Mine