Company: CHY
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124662
Chunk: 88

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-12-29
Form: N-CSR
Chunk 88
---
 Many such loans are secured, although some may be unsecured. Such loans may be in default at the time of purchase. Loans that are fully secured offer the Fund more protection than an unsecured loan in the event of non-payment of scheduled interest or principal. However, there is no assurance that the liquidation of collateral from a secured loan would satisfy the corporate borrower's obligation, or that the collateral can be liquidated. 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. 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 that allows the Fund to borrow up to $55 million and (ii) through the issuance of four series of Mandatory Redeemable Preferred Shares ("MRPS" or "MRP Shares") with an aggregate liquidation preference of $13 million. www.calamos.com
65 Calamos Long/Short Equity & Dynamic Income Trust (Unaudited)

TOTAL RETURN* Common Shares – Inception 11/29/19

|                 |     | 1 Year |      |   |     | Since       
 Inception** |      |   |
| On Market Price |     |        | 9.83 | % |     |             | 5.10 | % |
| On NAV          |     |        | 6.81 | % |     |             | 6.81 | % |

*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

| Industrials                           |     | 29.8 | % |
| Financials                            |     | 14.0 |   |
| Consumer Discretionary                |     | 13.3 |   |
| Information Technology                |     |  8.1 |   |
| Communication Services                |