Net Asset Value(s)

City Merchants High Yield Trust Limited                        
                                                               
As at close of business on 18-September-2017                   
                                                               
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                                                          
EXCLUDING undistributed current year revenue            193.27p        
                                                               
INCLUDING current year revenue                          195.34p        
                                                               
LEI: 549300JLX6ELWUZXCX14