In CB Light, if there's nothing in the menus for this, all you have to do is create an empty file with the pgn or cbh extension, open it up as a database, then drag and drop the games into it.
Chessbase Light and pgn conversion

I spent a long time looking for this and eventually found an online friend who was willing to use their full version to do the conversion for me. Not very helpful, but I've been stymied by this as well.

to convert cbv to pgn: open db in question, select games in question [click on game, press shift and scroll to highlight games wanted to conversion] ; now: file > new textfile> choose pgn option. and you can find the new pgn in the textfile folder

I know I am late to the party, but hopefully this will be of use to someone. There IS a way to convert for free from Chessbase to PGN in Chessbase Lite (free version). Once you open the database, highlight the games you want and RIGHT CLICK on the selection (you will not find the option you need in any of the upper menus). Select "Output > Selection to text file". You should be able to take it from there. FYI, in case these instructions weren't clear, there is also an Android app called "CBH to PGN" that should do the trick. Worst case scenario, copy the needed files to your android device, do the conversion, then copy back the results. Happy chessing!

Thanks a lot rdjain1, that was useful to me, and it works with the latest chessbase reader !
You saved me a few hours of silly work
Hello,
I'm looking for a tool to convert .cbh files easily into .pgn files, as well as the opposite (copy the games from a .pgn file into a .cbh file)
Do you know if ChessBase Light premium (ie. paying version) handles this ?