Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                        
                                                                                     
As at close of business on 03-November-2020                                          
                                                                                     
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                      
                                                                                     
EXCLUDING undistributed current year revenue                         183.48p          
                                                                                     
INCLUDING current year revenue                                       184.50p          
                                                                                     
Amount of borrowings outstanding under repo contracts:               GBP14.50m        
                                                                                     
Net borrowing level:                                                 7%              
                                                                                     
LEI: 549300JLX6ELWUZXCX14                                                            
                                                                                     
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