Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                         
                                                                                       
As at close of business on 05-November-2020                                            
                                                                                       
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                       
                                                                                       
EXCLUDING undistributed current year revenue                             185.10p       
                                                                                       
INCLUDING current year revenue                                           186.18p       
                                                                                       
Amount of borrowings outstanding under repo contracts:                   GBP14.53m     
                                                                                       
Net borrowing level:                                                     7%            
                                                                                       
LEI: 549300JLX6ELWUZXCX14