Transaction in Own Shares

BH Macro Limited (the "Company") (a closed-ended collective investment scheme established as a company withlimited liability under the laws of Guernsey with registered number 46235) Transaction in Own Shares 11 March 2016 On 11 March 2016 the Company purchased the following amount of shares: * 25,000 ordinary shares of no par value in the value in the capital of the Company designated as Sterling shares ("Sterling Shares") at a price of GBP 20.1787 per Sterling Share. * 10,000 ordinary shares of no par value in the value in the capital of the Company designated as Euro shares ("Euro Shares") at a price of EUR 19.3000 per Euro Share. * 25,000 ordinary shares of no par value in the value in the capital of the Company designated as US Dollar shares ("US Dollar Shares") at a price of USD 19.2000 per US Dollar Share. These shares will be held as treasury shares. Following the above share transactions of the relevant Euro, US Dollar andSterling Shares, the total number of shares in issue in each share class of theCompany will be as follows: Total number of treasury shares held by Number ofshares in issue less sharesthe Company following the above held in treasury following the abovetransaction transaction 404,723 Euro Shares 3,779,088 Euro Shares 1,590,739 US Dollar Shares 15,768,168 US Dollar Shares 3,007,669 Sterling Shares 31,303,627 Sterling Shares The number of votes each share in the Company is entitled to on a poll at anygeneral meeting of the Company was published by the Company on 9 March 2007 andwill not change as a result of the conversions. These are: Euro Share 1 US Dollar Share 0.7606 Sterling Share 1.4710 From 11 March 2016, the total number of voting rights in the Company (roundeddown to the whole number) is 61,819,992. Enquiries: Company website: www.bhmacro.com William Simmonds JPMorgan Cazenove Tel: 020 7588 2828 The Company Secretary Northern Trust International Fund Administration Services (Guernsey) Limited Tel: 01481 745368 END