Company: CPZ
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124691
Chunk: 71

Company: Calamos Long/Short Equity & Dynamic Income Trust
Filing Date: 2025-12-29
Form: N-CSR
Chunk 71
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 effectively a manager capitalizes on market opportunities. Because we believe closed-end funds are best utilized long term within asset allocations, we deem that the NAV return is the better measure of a fund's performance. However, when managing our Fund, we strongly consider actions and policies to optimize its overall price performance and returns based on market value.

TOTAL RETURN* Common Shares – Inception 6/27/07

|                 |     | 1 Year |       |   |     | Since       
 Inception** |      |   |
| On Market Price |     |        | 21.19 | % |     |             | 6.39 | % |
| On NAV          |     |        | 21.02 | % |     |             | 7.30 | % |

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

| Information Technology      |     | 25.9 | % |
| Communication Services      |     | 13.3 |   |
| Financials                  |     | 12.3 |   |
| Industrials                 |     | 12.0 |   |
| Consumer Discretionary      |     |  9.8 |   |
| Materials                   |     |  5.0 |   |
| Consumer Staples            |     |  4.6 |   |
| Energy                      |     |  4.2 |   |
| Utilities                   |     |  4.1 |   |
| Health Care                 |     |  3.7 |   |
| Other                       |     |  1.8 |   |
| Real Estate                 |     |  0.2 |   |
| Airlines                    |     |  0.1 |   |
| Special Purpose Acquisition 
 Companies                   |     |  0.1 |   |

Sector weightings are based on managed assets and may vary over time. Sector Weightings exclude any government/sovereign bonds or options on broad market indexes the Fund may hold.

www.calamos.com
53 Calamos Global Dynamic Income Fund (Unaudited) ASSET ALLOCATION AS OF 10/31/25 SINCE INCEPTION MARKET PRICE AND NAV HISTORY THROUGH 10/31/25 Performance data quoted represents past performance, which is no guarantee of future results