Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                        
                                                                                      
As at close of business on 15-December-2020                                           
                                                                                      
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                      
                                                                                      
EXCLUDING undistributed current year revenue                              191.15p     
                                                                                      
INCLUDING current year revenue                                            193.48p     
                                                                                      
Amount of borrowings outstanding under repo contracts:                    GBP13.67m   
                                                                                      
Net borrowing level:                                                      5%          
                                                                                      
LEI: 549300JLX6ELWUZXCX14