Performance Fee High Water Mark

BH Global Limited (the "Company") (a closed-ended collective investment scheme established as a company with limited liability under the laws of Guernsey with registered number 48555) Performance Fee High Water Marks 10 October 2014 The Company announces that, for the purposes of calculating the performance feepayable to Brevan Howard Capital Management LP following reinvestment of theCompany into Brevan Howard Multi-Strategy Master Fund Limited, the base netasset value per share of the Company's Sterling shares and US dollar shares asat 1 September 2014 has been set at £13.69 and $13.56 respectively. These figures represent a 2.85% premium to the actual net asset values pershare as at 31 August 2014. They take into account the extent to which certainof the Company's previous underlying investments were performing below existinghigh water marks immediately prior to the Company's reinvestment into BrevanHoward Multi-Strategy Master Fund Limited so that the Company is not requiredto pay a performance fee in respect of net asset appreciation up to theaforementioned figures. Enquiries: Company website: www.bhglobal.com Brevan HowardDaniel RiggsTel: +44 (0) 207 022 6236 Northern Trust International Fund Administration Services (Guernsey) LimitedAndrew MaidenTel: +44 (0) 1481 745368