Transparency Reporting

BH Macro Limited (the "Company")

(a closed-ended investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

LEI: 549300ZOFF0Z2CM87C29

12 July 2023

As an investor in Brevan Howard Master Fund Limited (the "Master Fund"), the Company has received from State Street Fund Services (Ireland) Limited, the administrator of the Master Fund, an Investor Transparency Report relating to the Net Asset Value of the Master Fund as at 31 May 2023. The report is available on the Company's website, which can be accessed at www.bhmacro.com.

Enquiries:

Company website:       www.bhmacro.com

Northern Trust International Fund Administration Services (Guernsey) Limited

Tel:      +44 (0) 1481 745001