Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                        
                                                                      
As at close of business on 30-April-2021                              
                                                                      
NAV per Ordinary share (unaudited) with Debt at Par & Fair            
Value                                                                 
                                                                      
EXCLUDING undistributed current year revenue                 194.57p  
                                                                      
INCLUDING current year revenue                               195.50p  
                                                                      
Amount of borrowings outstanding under repo contracts:       GBP12.10m
                                                                      
Net borrowing level:                                         3%       
                                                                      
                                                                      
LEI: 549300JLX6ELWUZXCX14