Issue of Equity

5th August 2022

CQS New City High Yield Fund Limited

("the Company")

Issue of Equity

On 5th August 2022 the Company agreed to issue 500,000 ordinary shares of no par value from its blocklisting facility at a price of 52 pence per share. The shares will be issued for cash on 9th August 2022.

On the 9th August 2022 the Company's issued share capital will consist of 477,901,858 ordinary shares and there are no shares held in treasury. Therefore, the total number of voting rights in the Company will be 477,901,858.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

ENQUIRIES

For the Investment Manager

New City Investment Managers

Craig Cleland

0207 201 5368

For the Company Secretary and Administrator

BNP Paribas Securities Services S.C.A. Jersey Branch

Dean Plowman / Ann-Marie Pereira

01534 813 967/ 01534 709 198

For the Broker

Nplus1 Singer Advisory LLP

James Maxwell / James Moat (Corporate Finance)

Alan Geeves (Sales)

020 7496 3000