Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                             
                                                                                           
As at close of business on 16-October-2020                                                 
                                                                                           
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                           
                                                                                           
EXCLUDING undistributed current year revenue                                 183.75p       
                                                                                           
INCLUDING current year revenue                                               184.32p       
                                                                                           
Amount of borrowings outstanding under repo contracts:                       GBP13.07m     
                                                                                           
Net borrowing level:                                                         5%            
                                                                                           
LEI: 549300JLX6ELWUZXCX14                                                                  
                                                                                           
---