Company: CPZ
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124691
Chunk: 8

Company: Calamos Long/Short Equity & Dynamic Income Trust
Filing Date: 2025-12-29
Form: N-CSR
Chunk 8
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 funds, and preferred stock dividend payments, as a percentage of our average net assets as of October 31, 2025, and not as a percentage of gross assets or managed assets. By showing expenses as a percentage of average net assets, expenses are not expressed as a percentage of all of the assets we invest. The table and example are based on our capital structure as of October 31, 2025. As of October 31, 2025, the Fund had utilized $302 million of the $430 million available under the SSB Agreement ($216 million in advances outstanding, and $85 million in structural leverage consisting of collateral received from counterparties via SSB in connection with securities on loan), representing 22.9% of the Fund's managed assets as of that date, and had $133 million in MRPS outstanding, representing 10.1% of the Fund's managed assets. Combined, the borrowings under the SSB Agreement and the outstanding MRPS represented 32.9% of the Fund's managed assets.

CALAMOS CLOSED-END FAMILY OF FUNDS ANNUAL REPORT
8 Additional Information About the Funds (Unaudited)

Calamos Convertible Opportunities and Income Fund (continued)

| SHAREHOLDER TRANSACTION EXPENSES                                        
 Sales Load (as a percentage of offering price)                          
 Offering Expenses Borne by the Fund (as a percentage of offering price) |     |   |  1.00 
     — | %(1)​ 
 (1)​  |
|:------------------------------------------------------------------------|:----|:--|------:|:------|
| Dividend Reinvestment Plan Fees (per sales transaction fee)(2)​         |     | $ | 15.00 |       |

| ANNUAL EXPENSES                         |     | PERCENTAGE   
 OF AVERAGE   
 NET ASSETS   
 ATTRIBUTABLE 
 TO COMMON    
 SHAREHOLDERS |      |   |
| Management Fee(3)​                      |     |              | 1.25 | % |
| Interest Payments on Borrowed Funds(4)​ |     |              | 1.95 | % |
| Preferred Stock Dividend Payments(5)​   |     |              | 0.69 | % |
| Other Expenses(6)​                      |     |              | 0.09 | % |
| Total Annual Expenses                   |     |              | 3.98 | % |

The following example illustrates the expenses that common shareholders would pay on a $1,000 investment