Conversion of Securities

BH Global Limited (the"Company") (a closed-ended investment scheme established as a company with limited liability under the laws of Guernsey with registered number 48555) Completion of 31 August 2014 Share Conversion 25 September 2014 Following the publication on 22 September 2014 of the finalmonth-end net asset values for 31 August 2014, the following share conversionratios have been determined in accordance with the articles of incorporationof the Company for the purposes of the 31 August 2014 share conversion date: 0.597458 Sterling shares for each US Dollar share1.673757 US Dollar shares for each Sterling share On the basis of aggregate applications received and using theconversion ratios listed above, the following shares will be issued: - 3,709 US Dollarshares of no par value; and the following shares will be cancelled: - 2,217 Sterling shares of no par value all with effect from 25 September 2014. Application has been made to the Financial Conduct Authority("FCA") for the new shares to be admitted to the Official List of the UKListing Authority and admitted to trading on the London Stock Exchange's mainmarket for listed securities. Admission is expected to occur on 2 October 2014. Shareholder CRESTaccounts for converting shareholders are expected to be updated by 5.00pm on2 October 2014. Following issue and cancellation of the relevant shares, the totalnumber of shares in issue in each class will be as follows: - 6,835,001 US Dollar Shares- 686,306 US Dollar Treasury Shares- 27,799,136 Sterling Shares- 2,853,319 Sterling Treasury Shares The number of votes each share in the Company is entitled to on apoll at any general meeting of the Company was published by the Company on 23May 2008 and will not change as a result of the conversions. These are: US Dollar Share 1Sterling Share 1.97950 From 25 September 2014, the total number of voting rights in theCompany (rounded down to the whole number) is 61,863,391. Enquiries: Website: www.bhglobal.com Northern Trust International Fund Administration Services (Guernsey) LimitedAndrew MaidenTel: +44 (0)1481 745368