Transaction in Own Shares

BH Macro Limited (the "Company")

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

Transaction in Own Shares

25 November 2025

BH Macro Limited (the Company) announces today it has purchased the following number of its ordinary shares on the London Stock Exchange from J.P. Morgan Securities plc:

Ordinary Shares: - Share Class	Sterling	US Dollar
Date of purchase:	25 November 2025	25 November 2025
Number of ordinary shares purchased:	92,473	2,000
Weighted average price (Sterling/US Dollars as applicable):	3.9766	4.0800

The Company intends to hold the purchased shares in treasury.

Following the above share transactions of the relevant US Dollar and/or Sterling Shares, the total number of shares in issue in each share class of the Company will be as follows:

Ordinary Shares in issue (excluding Treasury)	Ordinary Shares held in Treasury
319,522,547 Sterling Shares	58,535,059 Sterling Shares
23,901,261 US Dollar Shares	211,496 US Dollar Shares

From 25 November 2025, the total number of voting rights in the Company (rounded up to the whole number) is 488,196,966.

Enquiries:

Company website:        www.bhmacro.com

William Simmonds

JPMorgan Cazenove

Tel: [phone]

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Tel: [phone]

---

---