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)

July 2017 Share Conversions
1 August 2017

The Company has received the following share conversion requests from shareholders for the 31 July 2017 Share Conversion Date:

63,000 USD Shares to convert to GBP Shares

30,710 GBP Shares to convert to USD Shares

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

Company website:         www.bhmacro.com

Enquiries:

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

Tel:       [phone]