Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                         
                                                                                       
As at close of business on 26-January-2021                                             
                                                                                       
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                       
                                                                                       
EXCLUDING undistributed current year revenue                           191.71p         
                                                                                       
INCLUDING current year revenue                                         192.67p         
                                                                                       
Amount of borrowings outstanding under repo contracts:                 GBP13.01m       
                                                                                       
Net borrowing level:                                                   2%              
                                                                                       
LEI: 549300JLX6ELWUZXCX14