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REG-BH Macro Limited: Director Dealing

BH MACRO LIMITED

(the “Company”)

(a non-cellular company limited by shares incorporated in the Island of
Guernsey under the Companies (Guernsey) Law 2008, as amended, with registered
number 46235 and registered as an Authorised Closed-ended Collective
Investment Scheme with the Guernsey Financial Services Commission)

Director Dealing
27 March 2020

In accordance with Article 19(1) of Regulation (EU) No 596/2014 of the
European Parliament and of the Council on market abuse (The Market Abuse
Regulation), the Company has been notified that Mr Colin Maltby (Chairman of
the Company) has purchased Sterling and US Dollar shares of the Company. 
Details of the transaction are as set out below.

 1   Details of the person discharging managerial responsibilities/person closely associated                                                                                                                                
 a)  Name                                                                             Colin Maltby                                                                                                                          
 2   Reason for the notification                                                                                                                                                                                            
 a)  Position/status                                                                  Director                                                                                                                              
 b)  Initial notification /Amendment                                                  Initial notification                                                                                                                  
 3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor                                                                                                          
 a)  Name                                                                             BH Macro Limited                                                                                                                      
 b)  LEI [Legal Entity Identifier code]                                               549300ZOFF0Z2CM87C29                                                                                                                  
 4   Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted                      
 a)  Description of the financial instrument, type of instrument Identification code  Sterling shares & US Dollar Shares GG00B1NP5142 GG00B1NPGV15                                                                          
 b)  Nature of the transaction                                                        Purchase                                                                                                                              
 c)  Prices and volumes                                                                                            Price(s)                                                          Volume(s)                              
                                        £29.5 GBP                                                                                                                                    500 Shares                             
                                                                                                                   Price(s)                                                          Volume(s)                              
                                                                                                                  $29.21 USD                                                         500 Shares                             
 d)  Aggregated information - Aggregated volume - Price                               N/A                                                                                                                                   
 e)  Date of the transaction                                                          27 March 2020                                                                                                                         
 f)  Place of the transaction                                                         London Stock Exchange                                                                                                                 

Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel:        +44 (0)1481 745001



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