Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                              
                                                                                            
As at close of business on 04-February-2021                                                 
                                                                                            
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                            
                                                                                            
EXCLUDING undistributed current year revenue                                   191.78p      
                                                                                            
INCLUDING current year revenue                                                 192.98p      
                                                                                            
Amount of borrowings outstanding under repo contracts:                         GBP12.89m    
                                                                                            
Net borrowing level:                                                           3%           
                                                                                            
LEI: 549300JLX6ELWUZXCX14