Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                  
                                                                                
As at close of business on 12-September-2019                                    
                                                                                
NAV per Ordinary share (unaudited) with Debt at Par & Fair                      
Value                                                                           
                                                                                
EXCLUDING undistributed current year revenue                  187.30p           
                                                                                
INCLUDING current year revenue                                189.32p           
                                                                                
LEI: 549300JLX6ELWUZXCX14