Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                             
                                                                                           
As at close of business on 21-January-2021                                                 
                                                                                           
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                           
                                                                                           
EXCLUDING undistributed current year revenue                             191.98p           
                                                                                           
INCLUDING current year revenue                                           192.80p           
                                                                                           
Amount of borrowings outstanding under repo contracts:                   GBP12.86m         
                                                                                           
Net borrowing level:                                                     4%                
                                                                                           
LEI: 549300JLX6ELWUZXCX14