q4 report, page-3

Rail and Port
Discussions pertaining to third-party rail haulage negotiations progressed during the March
2014 Quarter including further detailed agreement documentation and structuring to facilitate
integration of component infrastructure (spurs and port links). These discussions remain a key
priority to management and Atlas is committed to completing these negotiations subject to key
terms being acceptable to all parties concerned.
Confidentiality arrangements are in place and commercial interests associated with the
discussions prevent Atlas from elaborating further on the negotiations at this stage.
A haulage agreement will give Atlas access to its vast Pilbara resources, in turn enabling it to
take greater advantage of its valuable port capacity allocations. While the agreement would
facilitate substantial increases in Atlas' production, Atlas' commitment to the development of
these projects is ultimately determined by financial returns, not increasing production alone.