Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                        
                                                                                      
As at close of business on 14-January-2020                                            
                                                                                      
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                      
                                                                                      
EXCLUDING undistributed current year revenue                               190.69p    
                                                                                      
INCLUDING current year revenue                                             193.46p    
                                                                                      
LEI: 549300JLX6ELWUZXCX14