Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                              
                                                                                            
As at close of business on 27-January-2021                                                  
                                                                                            
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                            
                                                                                            
EXCLUDING undistributed current year revenue                                     191.50p    
                                                                                            
INCLUDING current year revenue                                                   192.49p    
                                                                                            
Amount of borrowings outstanding under repo contracts:                           GBP13.00m  
                                                                                            
Net borrowing level:                                                             2%         
                                                                                            
LEI: 549300JLX6ELWUZXCX14