Company: CHY
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124662
Chunk: 1

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-12-29
Form: N-CSR
Chunk 1
---
ible and Income Fund (CCD), Calamos Global Total Return Fund (CGO), Calamos Convertible Opportunities and Income Fund (CHI), Calamos Global Dynamic Income Fund (CHW), and Calamos Convertible and High Income Fund (CHY) adhere to a level distribution policy. Both distribution policies represent our commitment to provide common shareholders with a predictable but not assured level of cash flow through the disbursement of the following: • Net investment income • Net realized short-term capital gains • Net realized long-term capital gains • And, if necessary, return of capital We set distributions at levels that we believe are sustainable for the long term. Each Fund's current monthly distribution per share as of October 31, 2025 is as follows: • Calamos Convertible Opportunities and Income Fund: $0.0950 • Calamos Convertible and High Income Fund: $ 0.1000 • Calamos Strategic Total Return Fund: $0.1025 • Calamos Dynamic Convertible and Income Fund: $0.1950 • Calamos Global Dynamic Income Fund: $0.0500 • Calamos Global Total Return Fund: $0.0800 • Calamos Long/Short Equity & Dynamic Income Trust: $0.1400 You should not draw any conclusions about a Fund's investment performance from the amount of its distribution or from the terms of a Fund's plan. The Funds' Board of Trustees may amend or terminate the distribution policies at any time without prior notice to the Fund's shareholders. For more information about any of the Calamos closed-end funds, we encourage you to contact your financial advisor or Calamos Investments at 866.363.9219 (Monday through Friday from 8:00 a.m. to 6:00 p.m., Central Time). You can also visit us at www.calamos.com.

TABLE OF CONTENTS

| Letter to Shareholders                                   |     |   1 |
| The Calamos Closed-End Funds:                            
 An Overview                                              |     |   5 |
| Additional Information About the Funds                   |     |   7 |
| The Fund's Investment Team Discussion,                   
 Investment Objective and Principal Investment Strategies |     |  30 |
| Calamos Convertible Opportunities                        
 and Income Fund                                          |     |  30 |
| Calamos Convertible and High                             
 Income Fund                                              |     |  36 |
| Calamos Strategic Total Return Fund                      |     |  43 |
| Calamos Dynamic Convertible and                          
 Income Fund                                              |     |