Intention to Raise Equity

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

BH MACRO LIMITED (the “Company”)

(a closed-ended investment company incorporated in Guernsey with registration number 46235)

LEI: 549300ZOFF0Z2CM87C29

Intention to raise equity

The Board of BH Macro Ltd. (the "Company") is pleased to announce it is contemplating an equity raise in response to strong demand for the Company's shares.

It is envisaged that an equity raise would help satisfy further market demand and improve liquidity, alongside spreading the Company’s fixed costs across a wider share capital base.

Further details will be announced in due course.

Enquiries

Richard Horlick
Chairman

William Simmonds / Rupert Budge
J.P. Morgan Cazenove
020 7742 4000