Company: CPZ
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124691
Chunk: 62

Company: Calamos Long/Short Equity & Dynamic Income Trust
Filing Date: 2025-12-29
Form: N-CSR
Chunk 62
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. Direct debt instruments may involve a risk of loss in case of default or insolvency of the borrower and may offer less legal protection to the Fund in the event of fraud or misrepresentation. In addition, loan participations involve a risk of insolvency of the lending bank or other financial intermediary. The markets in such loans are not regulated by federal securities laws or the Commission. CALAMOS CLOSED-END FAMILY OF FUNDS ANNUAL REPORT
46 Calamos Strategic Total Return Fund (CSQ) (Unaudited) Unfunded contracts are commitments by lenders (such as the Fund) to loan an amount in the future or that is due to be contractually funded in the future. The Fund currently uses, and may in the future use, financial leverage. The Fund has obtained financial leverage (i) under an Amended and Restated Liquidity Agreement with State Street Bank and Trust Company ("SSB Agreement") that allows the Fund to borrow up to $1.13 billion and (ii) through the issuance of four series of Mandatory Redeemable Preferred Shares ("MRPS" or "MRP Shares") with an aggregate liquidation preference of $323 million. www.calamos.com
47 Calamos Dynamic Convertible and Income Fund (Unaudited)

TOTAL RETURN* Common Shares – Inception 3/27/15

|                 |     | 1 Year |       |   |     | Since       
 Inception** |      |   |
| On Market Price |     |        |  1.84 | % |     |             | 9.14 | % |
| On NAV          |     |        | 26.63 | % |     |             | 9.57 | % |

*Total return measures net investment income and net realized gain or loss from Fund investments, and change in net unrealized appreciation or depreciation, assuming reinvestment of income and net realized gains distributions. **Annualized since inception. SECTOR WEIGHTINGS

| Information Technology                |     | 37.8 | % |
| Communication Services                |     | 11.0 |   |
| Financials                            |     |  9.5 |   |
| Consumer Discretionary                |     |  9.3 |   |
| Industrials                           |     |  8.3 |   |
| Health Care                           |     |  5.8 |   |
| Utilities                             |     |  5.7 |   |
| Materials                             |     |