Holding(s) in Company

For filings with the FCA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying BH Macro Limitedissuer of existing shares to which voting rightsare attached: ii 2. Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments whichmay result in the acquisition of shares already issued to which votingrights are attached An acquisition or disposal of instruments with similar economic effectto qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to Investec Wealth & Investment Limitedthe notification obligation: iii 4. Full name of shareholder(s) N/A(if different from 3.):iv 5. Date of the transaction and date 30th April 2015on which the threshold is crossed orreached: v 6. Date on which issuer notified: 5th May 2015 7. Threshold(s) that is/are crossed From 3% to 4%or reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/type Situation previous Resulting situation after the triggeringof to the triggering transactionshares transaction Number Number Number Number of voting % of voting rights xif possible of of of shares rightsusing Shares Votingthe ISIN Rights Direct Direct xi Indirect Direct IndirectCODE xii Euro Shares 91,946 91,946 91,946 0.13%GG00B1NPGZ52 Sterling Shares 1,700,255 1,700,255 2,536,621 3.46%GG00B1NP5142 US Dollar Shares 433,609 433,609 329,586 0.44%GG00B1NPGV15 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of votinginstrument date xiii Conversion Period rights that may be rights xiv acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting % of votingfinancial price date xvii Conversion rights instrument rights xix, xxinstrument period refers to xviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 2,958,153 4.03% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi Client holdings registered in the name of Nominee companies 100% owned byInvestec Wealth & Investment Limited. Proxy Voting: 10. Name of the proxy holder: N/A 11. Number of voting rights proxy holder will N/Acease to hold: 12. Date on which proxy holder will cease to hold N/Avoting rights: 13. Additional information: N/A 14. Contact name: Phil Beardwell Chartered FCSI Senior Compliance Manager 15. Contact telephone number: 020 7597 1356