PDMR Dealings

BH MACRO LIMITED (the “Company”)

(an authorised closed-ended collective investment scheme established as a non-cellular company limited by shares under the laws of Guernsey with registration number 46235)

LEI: 549300ZOFF0Z2CM87C29

PDMR Dealings

The Company announces that the following persons discharging managerial responsibility (PDMRs) have been issued ordinary shares of no par value each in the capital of the Company (“Shares”) denominated, as applicable, as Sterling shares (the “Sterling Shares”) and/or US dollar shares (the “US Dollar Shares” and, together with the Sterling Shares, the “Shares”), pursuant to their participation in the Company's initial issue of Shares announced on 23 January 2023.

The Shares issued pursuant to the initial issue were admitted to the premium listing category of the official list of the FCA and to trading on the premium segment of the main market for listed securities of London Stock Exchange plc earlier today, 15 February 2023.

Details of the transactions can be found in the Notification of Dealing Forms below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Horlick
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BH Macro Limited
b)	LEI	549300ZOFF0Z2CM87C29
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	US Dollar Shares of no par value each
	Identification code	GG00BQBFY479
b)	Nature of the transaction	Issue of Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			US$4.47	79,805
d)	Aggregated information	N/A - Single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	13 February 2023
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Caroline Chan
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BH Macro Limited
b)	LEI	549300ZOFF0Z2CM87C29
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Sterling Shares of no par value each
	Identification code	GG00BQBFY362
b)	Nature of the transaction	Issue of Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			431.5 pence	11,587
d)	Aggregated information	N/A - Single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	13 February 2023
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bronwyn Curtis
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BH Macro Limited
b)	LEI	549300ZOFF0Z2CM87C29
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Sterling Shares of no par value each
	Identification code	GG00BQBFY362
b)	Nature of the transaction	Issue of Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			431.5 pence	23,174
d)	Aggregated information	N/A - Single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	13 February 2023
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Le Poidevin
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BH Macro Limited
b)	LEI	549300ZOFF0Z2CM87C29
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Sterling Shares of no par value each
	Identification code	GG00BQBFY362
b)	Nature of the transaction	Issue of Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			431.5 pence	20,800
d)	Aggregated information	N/A - Single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	13 February 2023
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Claire Whittet
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BH Macro Limited
b)	LEI	549300ZOFF0Z2CM87C29
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Sterling Shares of no par value each
	Identification code	GG00BQBFY362
b)	Nature of the transaction	Issue of Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			431.5 pence	8,111
d)	Aggregated information	N/A - Single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	13 February 2023
f)	Place of the transaction	London Stock Exchange

Enquiries:

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