Net Asset Value(s)

City Merchants High Yield Trust Limited                        
                                                               
As at close of business on 14-July-2017                        
                                                               
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                                                          
                                                               
EXCLUDING undistributed current year revenue         192.42p        
                                                        
                                                               
INCLUDING current year revenue            195.25p        
                                                        
                                                               
LEI: 549300JLX6ELWUZXCX14