Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                        
                                                                                      
As at close of business on 27-November-2020                                           
                                                                                      
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                      
                                                                                      
EXCLUDING undistributed current year revenue                             189.74p      
                                                                                      
INCLUDING current year revenue                                           191.51p      
                                                                                      
Amount of borrowings outstanding under repo contracts:                   GBP14.56m    
                                                                                      
Net borrowing level:                                                     5%           
                                                                                      
LEI: 549300JLX6ELWUZXCX14