Company: CPZ
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124691
Chunk: 154

Company: Calamos Long/Short Equity & Dynamic Income Trust
Filing Date: 2025-12-29
Form: N-CSR
Chunk 154
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 is influenced by a range of factors, including supply and demand and market conditions. (c) Ratio of net expenses, excluding interest expense on Notes Payable and interest expense and amortization of offering costs on Mandatory Redeemable Preferred Shares, to average net assets was 1.51%,1.51%, 1.57%, 1.53% and 1.44%, respectively. (d) Calculated by subtracting the Fund's total liabilities (not including Notes payable and Mandatory Redeemable Preferred Shares) from the Fund's total assets and dividing this by the amount of Notes payable outstanding, and by multiplying the result by 1,000. (e) Calculated by subtracting the Fund's total liabilities (not including Notes payable and Mandatory Redeemable Preferred Shares) from the Fund's total assets and dividing this by the amount of Mandatory Redeemable Preferred Shares outstanding, and by multiplying the result by 25.

CALAMOS CLOSED-END FAMILY OF FUNDS ANNUAL REPORT
228 This page intentionally left blank. Calamos Dynamic Convertible and Income Fund Financial Highlights

Selected data for a share outstanding throughout each year were as follows:

|                                                                                                                   |     | YEAR ENDED OCTOBER 31, |    2025 |    |     |   |    2024 |    |
|:------------------------------------------------------------------------------------------------------------------|:----|:-----------------------|--------:|:---|:----|:--|--------:|:---|
| PER SHARE OPERATING PERFORMANCE                                                                                   |     |                        |         |    |     |   |         |    |
| Net asset value, beginning of year                                                                                |     | $                      |   19.24 |    |     | $ |   17.24 |    |
| Income from investment operations:                                                                                |     |                        |         |    |     |   |         |    |
| Net investment income (loss)*                                                                                     |     |                        |   (0.75 | )  |     |   |   (0.89 | )  |
| Net realized and unrealized gain (loss)                                                                           |     |                        |    5.63 |    |     |   |    5.23 |    |
| Total from investment operations                                                                                  |     |                        |    4.88 |    |     |   |    4.34 |    |
| Less distributions to common shareholders from:                                                                   |     |                        |         |    |     |   |         |