Conversion of Securities

BH Macro Limited (the "Company")
(a closed-ended collective investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

March 2017 Share Conversion
31 March 2017

The Company has received (in aggregate) the following share conversion requests from shareholders for the 31 March 2017 Share Conversion Date:

• 38 GBP Shares to convert to EUR Shares
• 2,555 USD Shares to convert to EUR Shares
• 38,629 USD Shares to convert to GBP Shares
• 10,510 EUR Shares to convert to GBP Shares

Conversions will take place as soon as practicable after the Company's month-end net asset value figures for March 2017 are released. Converting shareholders will be notified upon conversion taking place, which will be no later than 25 business days after 31 March 2017.

Company website:         www.bhmacro.com

Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited

Tel:       [phone]