Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                                
                                                                                              
As at close of business on 15-February-2021                                                   
                                                                                              
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                              
                                                                                              
EXCLUDING undistributed current year revenue                                   191.98p        
                                                                                              
INCLUDING current year revenue                                                 193.47p        
                                                                                              
Amount of borrowings outstanding under repo contracts:                         GBP12.84m      
                                                                                              
Net borrowing level:                                                           2%             
                                                                                              
LEI: 549300JLX6ELWUZXCX14