Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                         
                                                                                       
As at close of business on 05-January-2021                                             
                                                                                       
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                       
                                                                                       
EXCLUDING undistributed current year revenue                            191.89p        
                                                                                       
INCLUDING current year revenue                                          194.78p        
                                                                                       
Amount of borrowings outstanding under repo contracts:                  GBP13.64m      
                                                                                       
Net borrowing level:                                                    5%             
                                                                                       
LEI: 549300JLX6ELWUZXCX14