Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                         
                                                                                       
As at close of business on 02-January-2020                                             
                                                                                       
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                       
                                                                                       
EXCLUDING undistributed current year revenue                           189.93p         
                                                                                       
INCLUDING current year revenue                                         192.43p         
                                                                                       
LEI: 549300JLX6ELWUZXCX14