Transparency Report

BH Macro Limited (the "Company")

(a closed-ended investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

Transparency Reporting

24 July 2015

As an investor in Brevan Howard Master Fund Limited (the “Master Fund”), the Company has received from International Fund Services, the administrator of the Master Fund, an Investor Transparency Report relating to the Net Asset Value of the Master Fund as at 30 June 2015.  The report is available on the Company’s website, which can be accessed at www.bhmacro.com.

Enquiries:

Company website:        www.bhmacro.com

Northern Trust International Fund Administration Services (Guernsey) Limited
Rebecca Booth
Tel:       [phone]