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)
LEI: 549300ZOFF0Z2CM87C29

January 2019 Share Conversion
31 January 2019

(Classified Regulated Information, under DTR 6 Annex 1 section 2.3)

The Company has received (in aggregate) the following share conversion requests from shareholders for the 31 January 2019 Share Conversion Date:

                       124 USD 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 January 2019 are released. Converting shareholders will be notified upon conversion taking place, which will be no later than 25 business days after 31 January 2019.

Company website:         www.bhmacro.com

Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel:       [phone]