Results of EGM

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)

Results of Extraordinary General Meeting

24 May 2016

The Company is pleased to announce that at the Extraordinary General Meeting held on
24 May 2016, the special resolution as set out in the Notice of Meeting dated
27 April 2016 was unanimously passed by way of a show of hands.

The number of votes for and against each of the resolutions and the number of votes withheld were as follows:

Special Resolution	For	Against	Vote Withheld
That, without prejudice to any subsisting authority conferred on the Company, the Company be and is hereby generally and unconditionally authorized in accordance with The Companies (Guernsey) Law 2008, as amended, to make market purchases (as defined in that Law) of each class of its shares (the “Shares”) (either for the retention as treasury shares for further reissue and resale or transfer, or cancellation) pursuant to the tender offer to all of the Company’s shareholders (excluding certain overseas shareholders) to be made by J.P. Morgan Securities plc on the terms subject to the conditions set out in the circular of the Company dated 27 April 2016 (the “Circular”), PROVIDED THAT: (a)  the maximum number of Shares authorised to be purchased shall be 7,812,223 Shares designated as Sterling Shares, 861,331 Shares designated as Euro shares and 3,805,094 Shares designated as US Dollar Shares; (b)  the price which may be paid for a Share of a specific class shall be the Tender Price(s), as defined in the Circular, for that class of Shares (the lowest of which shall be the minimum price, and the highest of which the maximum price, for the purposes of The Companies (Guernsey) Law 2008, as amended); and (c)  the authority hereby conferred shall expire on 31 July 2016 (unless such authority is renewed prior to such date), save that the Company may, prior to such expiry, enter into a contact to purchase Shares which will or may be completed or executed wholly or partly after such expire and make a purchase of such Shares pursuant to any such contract.	22,812,324	48	122,298

Note:

• In total, 10.56% of the Euro shares in issue, 50.84% of the Sterling shares in issue and 28.77% of the US Dollar shares in issue were voted on the resolutions.
• “Votes withheld” are not votes in law and are not counted in the calculation of the proportion of votes for or against a resolution.

Enquiries:

Company website:        www.bhmacro.com

Northern Trust International Fund Administration Services (Guernsey) Limited

Tel:       [phone]