Transparency Reporting

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) Transparency Reporting 26 January 2015 As an investor in Brevan Howard Multi-Strategy Master Fund Limited (the "MasterFund"), the Company has exposure to investments by the Master Fund, directly orindirectly, in a series of other master funds managed by Brevan Howard (the"Target Funds"). The Company has received from International Fund Services, theadministrator of certain of the Target Funds, a series of Investor TransparencyReports relating to the Net Asset Value of those Target Funds it administers asat 31 December 2014. The reports are available on the Company's website, whichcan be accessed at www.bhglobal.com. Enquiries: Company website: www.bhglobal.com Northern Trust International Fund Administration Services (Guernsey) LimitedAndrew MaidenTel: +44 (0) 1481 745368