Directorate Change

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)

Directorate Change  
19 April 2017

The Company announces the proposed retirement of Ian Plenderleith as Chairman and non-executive independent director of the Company effective from the Annual General Meeting on 23 June 2017.  Mr Plenderleith has been a director of the Company since 2007. The Board has greatly appreciated the experience and support he has contributed to the development of the Company.

In accordance with Listing Rule 9.6.11, the Board also wishes to announce that following the completion of the Annual General Meeting, Mr Huw Evans will be appointed as Chairman of the Board.

Enquiries:

Company website:        www.bhmacro.com

Northern Trust International Fund Administration Services (Guernsey) Limited
Sharon A Williams
Tel:       [phone]