# EDGAR Filing Document

**Accession Number:** 0001943291
**File Stem:** 0001104659-23-017501
**Filing Date:** 2023-2
**Character Count:** 128388
**Document Hash:** 170d7ad787963f79fce07f0fe397c755
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-017501.hdr.sgml**: 20230209

**ACCESSION NUMBER**: 0001104659-23-017501

**CONFORMED SUBMISSION TYPE**: 40-17G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230209

**DATE AS OF CHANGE**: 20230209

**EFFECTIVENESS DATE**: 20230209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Calamos Antetokounmpo Sustainable Equities Trust
- **CENTRAL INDEX KEY:** 0001943291
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 40-17G/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23822
- **FILM NUMBER:** 23605550

**BUSINESS ADDRESS:**
- **STREET 1:** CORPORATION TRUST CENTER
- **STREET 2:** 1209 ORANGE STREET
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 630-245-7200

**MAIL ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60563

**ICI MUTUAL INSURANCE COMPANY,**<br> **a Risk Retention Group**

1401 H St. NW

Washington, DC 20005

**INVESTMENT COMPANY BLANKET BOND**

Bond (6/18)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

1401 H St. NW

Washington, DC 20005

**DECLARATIONS**

NOTICE

This policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty funds are not available for your risk retention group.

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| | | |
|:---|:---|:---|
| **ITEM 1.** | Name of Insured (the "Insured") | Bond Number: |
|  | **Calamos Advisors LLC** | **01580122B** |
|  | Principal Office: | Mailing Address: |
|  | &nbsp;&nbsp;&nbsp;2020 Calamos Court | &nbsp;&nbsp;&nbsp;2020 Calamos Court |
|  | &nbsp;&nbsp;&nbsp;Naperville, IL 60563-2784 | &nbsp;&nbsp;&nbsp;Naperville, IL 60563-2784 |

---

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**Item 2.** Bond Period: from 12:01 a.m. on <u>March 31, 2022</u>, to 12:01 a.m. on <u>March 31, 2023</u>, or the earlier effective date of the termination of this Bond, standard time at the Principal Office as to each of said dates.

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| | |
|:---|:---|
| **Item 3.** | Limit of Liability— |
|  | Subject to Sections 9, 10 and 12 hereof: |

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| | | | |
|:---|:---|:---|:---|
|  |  | **LIMIT OF** <br> **LIABILITY** | **DEDUCTIBLE**<br> **AMOUNT** |
| Insuring Agreement A- | FIDELITY | $17050000 | $100000 |
| Insuring Agreement B- | AUDIT EXPENSE | $50000 | $10000 |
| Insuring Agreement C- | ON PREMISES | $17050000 | $100000 |
| Insuring Agreement D- | IN TRANSIT | $17050000 | $100000 |
| Insuring Agreement E- | FORGERY OR ALTERATION | $17050000 | $100000 |
| Insuring Agreement F- | SECURITIES | $17050000 | $100000 |
| Insuring Agreement G- | COUNTERFEIT CURRENCY | $17050000 | $100000 |
| Insuring Agreement H- | UNCOLLECTIBLE ITEMS OF DEPOSIT | $25000 | $5000 |
| Insuring Agreement I- | PHONE/ELECTRONIC TRANSACTIONS | $17050000 | $100000 |

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If "Not Covered" is inserted opposite any Insuring Agreement above, such Insuring Agreement and any reference thereto shall be deemed to be deleted from this Bond. <br>OPTIONAL INSURING AGREEMENTS ADDED BY RIDER:

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| | | | |
|:---|:---|:---|:---|
| Insuring Agreement J- | COMPUTER SECURITY | $17050000 | $100000 |
| Insuring Agreement M- | SOCIAL ENGINEERING FRAUD | $1000000 | $100000 |

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**Item 4.** Offices or Premises Covered--All the Insured's offices or other premises in existence at the time this Bond becomes effective are covered under this Bond, except the offices or other premises excluded by Rider. Offices or other premises acquired or established after the effective date of this Bond are covered subject to the terms of General Agreement A.

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**Item 5.** The liability of ICI Mutual Insurance Company, a Risk Retention Group (the "Underwriter") is subject to the terms of the following Riders attached hereto:

Riders: 1-2-3-4-5-6-7-8-9-10-11-12-13-14<br>and of all Riders applicable to this Bond issued during the Bond Period.

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| | | | |
|:---|:---|:---|:---|
| By: | /S/ Maggie Sullivan | By: | /S/ Catherine Dalton |
|  | Authorized Representative | Authorized Representative | Authorized Representative |

---

Bond (6/18)

**INVESTMENT COMPANY BLANKET BOND**

NOTICE

This policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty funds are not available for your risk retention group.

ICI Mutual Insurance Company, a Risk Retention Group (the "Underwriter"), in consideration of an agreed premium, and in reliance upon the Application and all other information furnished to the Underwriter by the Insured, and subject to and in accordance with the Declarations, General Agreements, Provisions, Conditions and Limitations and other terms of this bond (including all riders hereto) ("Bond"), to the extent of the Limit of Liability and subject to the Deductible Amount, agrees to indemnify the Insured for the loss, as described in the Insuring Agreements, sustained by the Insured at any time but discovered during the Bond Period.

**INSURING AGREEMENTS**

**A.** **FIDELITY** 

Loss resulting directly from any Dishonest or Fraudulent Act committed by an Employee, committed anywhere and whether committed alone or in collusion with other persons (whether or not Employees), during the time such Employee has the status of an Employee as defined herein, and even if such loss is not discovered until after he or she ceases to be an Employee; and EXCLUDING loss covered under Insuring Agreement B.

**B.** **AUDIT EXPENSE** 

Expense incurred by the Insured for that part of the costs of audits or examinations required by any governmental regulatory authority or Self-Regulatory Organization to be conducted by such authority or Organization or by an independent accountant or other person, by reason of the discovery of loss sustained by the Insured and covered by this Bond.

**C.** **ON PREMISES** 

Loss of Property resulting directly from any Mysterious Disappearance, or any Dishonest or Fraudulent Act committed by a person physically present in an office or on the premises of the Insured at the time the Property is surrendered, while the Property is (or reasonably supposed or believed by the Insured to be) lodged or deposited within the Insured's offices or premises located anywhere, except those offices excluded by Rider; and EXCLUDING loss covered under Insuring Agreement A.

**D.** **IN TRANSIT** 

Loss of Property resulting directly from any Mysterious Disappearance or Dishonest or Fraudulent Act while the Property is physically (not electronically) in transit anywhere in the custody of any person authorized by an Insured to act as a messenger, except while in the mail or with a carrier for hire (other than a Security Company); and EXCLUDING loss covered under Insuring Agreement A. Property is "in transit" beginning immediately upon receipt of such Property by the transporting person and ending immediately upon delivery to the designated recipient or its agent, but only while the Property is being conveyed.

Bond (6/18)

**E.** **FORGERY OR ALTERATION** 

Loss resulting directly from the Insured having, in good faith, paid or transferred any Property in reliance upon any Written, Original:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) bills of
 exchange, checks, drafts, or other written orders or directions to pay sums certain in money,
 acceptances, certificates of deposit, due bills, money orders, warrants, orders upon public
 treasuries, or letters of credit; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) instructions,
 requests or applications directed to the Insured, authorizing or acknowledging the transfer,
 payment, redemption, delivery or receipt of money or Property, or giving notice of any bank
 account (provided such instructions or requests or applications purport to have been signed
 or endorsed by (a) any customer of the Insured, or (b) any shareholder of or subscriber
 to shares issued by any Investment Company, or (c) any financial or banking institution
 or stockbroker, and further provided such instructions, requests, or applications either
 bear the forged signature or endorsement or have been altered without the knowledge and consent
 of such customer, such shareholder or subscriber to shares issued by an Investment Company,
 or such financial or banking institution or stockbroker); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) withdrawal
 orders or receipts for the withdrawal of Property, or receipts or certificates of deposit
 for Property and bearing the name of the Insured as issuer or of another Investment Company
 for which the Insured acts as agent;

which bear (a) a Forgery, or (b) an Alteration, but only to the extent that the Forgery or Alteration directly causes the loss.

Actual physical possession by the Insured or its authorized representative of the items listed in (1) through (3) above is a condition precedent to the Insured having relied upon the items.

This Insuring Agreement E does not cover loss caused by Forgery or Alteration of Securities or loss covered under Insuring Agreement A.

**F.** **SECURITIES** 

Loss resulting directly from the Insured, in good faith, in the ordinary course of business, and in any capacity whatsoever, whether for its own account or for the account of others, having acquired, accepted or received, or sold or delivered, or given any value, extended any credit or assumed any liability in reliance on any Written, Original Securities, where such loss results from the fact that such Securities prove to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) be Counterfeit,
 but only to the extent that the Counterfeit directly causes the loss, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) be lost
 or stolen, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) contain
 a Forgery or Alteration, but only to the extent the Forgery or Alteration directly causes
 the loss,

and notwithstanding whether or not the act of the Insured causing such loss violated the constitution, by-laws, rules, or regulations of any Self-Regulatory Organization, whether or not the Insured was a member thereof.

Bond (6/18)

This Insuring Agreement F does not cover loss covered under Insuring Agreement A.

Actual physical possession by the Insured or its authorized representative of the Securities is a condition precedent to the Insured having relied upon the Securities.

**G.** **COUNTERFEIT CURRENCY** 

Loss resulting directly from the receipt by the Insured, in good faith of any Counterfeit Currency.

This Insuring Agreement G does not cover loss covered under Insuring Agreement A.

**H.** **UNCOLLECTIBLE ITEMS OF DEPOSIT** 

Loss resulting directly from the payment of dividends, issuance of Fund shares or redemptions or exchanges permitted from an account with the Fund as a consequence of

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) uncollectible
 Items of Deposit of a Fund's customer, shareholder or subscriber credited by the Insured
 or its agent to such person's Fund account, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) any Item
 of Deposit processed through an automated clearing house which is reversed by a Fund's
 customer, shareholder or subscriber and is deemed uncollectible by the Insured;

PROVIDED, that (a) Items of Deposit shall not be deemed uncollectible until the Insured's collection procedures have failed, (b) exchanges of shares between Funds with exchange privileges shall be covered hereunder only if all such Funds are insured by the Underwriter for uncollectible Items of Deposit, and (c) the Insured Fund shall have implemented and maintained a policy to hold Items of Deposit for the minimum number of days stated in its Application (as amended from time to time) before paying any dividend or permitting any withdrawal with respect to such Items of Deposit (other than exchanges between Funds). Regardless of the number of transactions between Funds in an exchange program, the minimum number of days an Item of Deposit must be held shall begin from the date the Item of Deposit was first credited to any Insured Fund.

This Insuring Agreement H does not cover loss covered under Insuring Agreement A.

**I.** **PHONE/ELECTRONIC TRANSACTIONS** 

Loss resulting directly from a Phone/Electronic Transaction, where the request for such Phone/Electronic Transaction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) is transmitted
 to the Insured or its agents by voice over the telephone or by Electronic Transmission; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) is made
 by an individual purporting to be a Fund shareholder or subscriber or an authorized agent
 of a Fund shareholder or subscriber; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) is unauthorized
 or fraudulent and is made with the manifest intent to deceive;

PROVIDED, that the entity receiving such request generally maintains and follows during the Bond Period all Phone/Electronic Transaction Security Procedures with respect to all Phone/Electronic Transactions; and

Bond (6/18)

EXCLUDING loss resulting from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the failure
 to pay for shares attempted to be purchased; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) any redemption
 of Investment Company shares which had been improperly credited to a shareholder's
 account where such shareholder (a) did not cause, directly or indirectly, such shares
 to be credited to such account, and (b) directly or indirectly received any proceeds
 or other benefit from such redemption; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) any redemption
 of shares issued by an Investment Company where the proceeds of such redemption were requested
 (i) to be paid or made payable to other than an Authorized Recipient or an Authorized
 Bank Account or (ii) to be sent to other than an Authorized Address;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the intentional
 failure to adhere to one or more Phone/Electronic Transaction Security Procedures; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) a Phone/Electronic
 Transaction request transmitted by electronic mail or transmitted by any method not subject
 to the Phone/Electronic Transaction Security Procedures; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the failure
 or circumvention of any physical or electronic protection device, including any firewall,
 that imposes restrictions on the flow of electronic traffic in or out of any Computer System.

This Insuring Agreement I does not cover loss covered under Insuring Agreement A, "Fidelity" or Insuring Agreement J, "Computer Security".

**GENERAL AGREEMENTS**

**A.** **ADDITIONAL OFFICES OR EMPLOYEES—CONSOLIDATION OR MERGER—NOTICE** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Except as provided
 in paragraph 2 below, this Bond shall apply to any additional office(s) established
 by the Insured during the Bond Period and to all Employees during the Bond Period, without
 the need to give notice thereof or pay additional premiums to the Underwriter for the Bond
 Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. If during the
 Bond Period an Insured Investment Company shall merge or consolidate with an institution
 in which such Insured is the surviving entity, or purchase substantially all the assets or
 capital stock of another institution, or acquire or create a separate investment portfolio,
 and shall within sixty (60) days notify the Underwriter thereof, then this Bond shall automatically
 apply to the Property and Employees resulting from such merger, consolidation, acquisition
 or creation from the date thereof; provided, that the Underwriter may make such coverage
 contingent upon the payment of an additional premium.

**B.** **WARRANTY** 

No statement made by or on behalf of the Insured, whether contained in the Application or otherwise, shall be deemed to be an absolute warranty, but only a warranty that such statement is true to the best of the knowledge of the person responsible for such statement.

Bond (6/18)

**C.** **COURT COSTS AND ATTORNEYS' FEES** 

The Underwriter will indemnify the Insured against court costs and reasonable attorneys' fees incurred and paid by the Insured in defense of any legal proceeding brought against the Insured seeking recovery for any loss which, if established against the Insured, would constitute a loss covered under the terms of this Bond; provided, however, that with respect to Insuring Agreement A this indemnity shall apply only in the event that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. an Employee
 admits to having committed or is adjudicated to have committed a Dishonest or Fraudulent
 Act which caused the loss; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. in the absence
 of such an admission or adjudication, an arbitrator or arbitrators acceptable to the Insured
 and the Underwriter concludes, after a review of an agreed statement of facts, that an Employee
 has committed a Dishonest or Fraudulent Act which caused the loss.

The Insured shall promptly give notice to the Underwriter of any such legal proceeding and upon request shall furnish the Underwriter with copies of all pleadings and other papers therein. At the Underwriter's election the Insured shall permit the Underwriter to conduct the defense of such legal proceeding in the Insured's name, through attorneys of the Underwriter's selection. In such event, the Insured shall give all reasonable information and assistance which the Underwriter shall deem necessary to the proper defense of such legal proceeding.

If the amount of the Insured's liability or alleged liability in any such legal proceeding is greater than the amount which the Insured would be entitled to recover under this Bond (other than pursuant to this General Agreement C), or if a Deductible Amount is applicable, or both, the indemnity liability of the Underwriter under this General Agreement C is limited to the proportion of court costs and attorneys' fees incurred and paid by the Insured or by the Underwriter that the amount which the Insured would be entitled to recover under this Bond (other than pursuant to this General Agreement C) bears to the sum of such amount plus the amount which the Insured is not entitled to recover. Such indemnity shall be in addition to the Limit of Liability for the applicable Insuring Agreement.

**D.** **INTERPRETATION** 

This Bond shall be interpreted with due regard to the purpose of fidelity bonding under Rule 17g-1 under the Investment Company Act of 1940 (i.e., to protect innocent third parties from harm) and to the structure of the investment management industry (in which a loss of Property resulting from a cause described in any Insuring Agreement ordinarily gives rise to a potential legal liability on the part of the Insured), such that the term "loss" as used herein shall include an Insured's legal liability for direct compensatory damages resulting directly from a misappropriation, or measurable diminution in value, of Property.

Bond (6/18)

**THIS BOND, INCLUDING THE FOREGOING INSURING AGREEMENTS<br> AND GENERAL AGREEMENTS, IS SUBJECT TO THE FOLLOWING<br> PROVISIONS, CONDITIONS AND LIMITATIONS:**

**SECTION 1. DEFINITIONS**

The following terms used in this Bond shall have the meanings stated in this Section:

**A.** **"Alteration"** means the marking, changing or altering in a material
 way of the terms, meaning or legal effect of a document with the intent to deceive.

**B.** **"Application"** means the Insured's application (and any attachments
 and materials submitted in connection therewith) furnished to the Underwriter for this Bond.

**C.** **"Authorized Address"** means (1) any Officially Designated
 address to which redemption proceeds may be sent, (2) any address designated in writing
 (not to include Electronic Transmission) by the Shareholder of Record and received by the
 Insured at least one (1) day prior to the effective date of such designation, or (3) any
 address designated by voice over the telephone or by Electronic Transmission by the Shareholder
 of Record at least 15 days prior to the effective date of such designation.

**D.** **"Authorized Bank Account"** means any Officially Designated
 bank account to which redemption proceeds may be sent.

**E.** **"Authorized Recipient"** means (1) the Shareholder of
 Record, or (2) any other Officially Designated person to whom redemption proceeds may
 be sent.

**F.** **"Computer System"** means (1) computers with related
 peripheral components, including storage components, (2) systems and applications software,
 (3) terminal devices, (4) related communications networks or customer communication
 systems, and (5) related electronic funds transfer systems; by which data or monies
 are electronically collected, transmitted, processed, stored or retrieved.

**G.** **"Counterfeit"** means a Written imitation of an actual valid Original
 which is intended to deceive and to be taken as the Original.

**H.** **"Cryptocurrency"** means a digital or electronic medium of exchange,
 operating independently of a central bank, in which encryption techniques are used to regulate
 generation of units and to verify transfer of units from one person to another.

**I.** **"Currency"** means a medium of exchange in current use authorized
 or adopted by a domestic or foreign government as part of its official currency.

**J.** **"Deductible Amount"** means, with respect to any Insuring
 Agreement, the amount set forth under the heading "Deductible Amount" in Item
 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single
 Loss covered by such Insuring Agreement.

**K.** **"Depository"** means any "securities depository" (other
 than any foreign securities depository) in which an Investment Company may deposit its Securities
 in accordance with Rule 17f-4 under the Investment Company Act of 1940.

Bond (6/18)

**L.** **"Dishonest or Fraudulent Act"** means any dishonest or fraudulent
 act, including "larceny and embezzlement" as defined in Section 37 of the
 Investment Company Act of 1940, committed with the conscious manifest intent (1) to
 cause the Insured to sustain a loss and (2) to obtain an improper financial benefit
 for the perpetrator or any other person or entity. A Dishonest or Fraudulent Act does not
 mean or include a reckless act, a negligent act, or a grossly negligent act. As used in this
 definition, "improper financial benefit" does not include any employee benefits
 received in the course of employment, including salaries, commissions, fees, bonuses, promotions,
 awards, profit sharing or pensions.

**M.** **"Electronic Transmission"** means any transmission effected
 by electronic means, including but not limited to a transmission effected by telephone tones,
 Telefacsimile, wireless device, or over the Internet.

**N.** **"Employee"** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) each officer,
 director, trustee, partner or employee of the Insured, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) each officer,
 director, trustee, partner or employee of any predecessor of the Insured whose principal
 assets are acquired by the Insured by consolidation or merger with, or purchase of assets
 or capital stock of, such predecessor, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) each attorney
 performing legal services for the Insured and each employee of such attorney or of the law
 firm of such attorney while performing services for the Insured, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) each student
 who is an authorized intern of the Insured, while in any of the Insured's offices,
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) each officer,
 director, trustee, partner or employee of

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an investment
 adviser,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) an underwriter
 (distributor),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a transfer
 agent or shareholder accounting recordkeeper, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) an administrator
 authorized by written agreement to keep financial and/or other required records,

for an Investment Company named as an Insured, BUT ONLY while (i) such officer, partner or employee is performing acts coming within the scope of the usual duties of an officer or employee of an Insured, or (ii) such officer, director, trustee, partner or employee is acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access to the Property of the Insured, or (iii) such director or trustee (or anyone acting in a similar capacity) is acting outside the scope of the usual duties of a director or trustee; PROVIDED, that the term "Employee" shall not include any officer, director, trustee, partner or employee of a transfer agent, shareholder accounting recordkeeper or administrator (x) which is not an "affiliated person" (as defined in Section 2(a) of the Investment Company Act of 1940) of an Investment Company named as an Insured or of the adviser or underwriter of such Investment Company, or (y) which is a "Bank" (as defined in Section 2(a) of the Investment Company Act of 1940), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) each individual
 assigned, by contract or by any agency furnishing temporary personnel, in either case on
 a contingent or part-time basis, to perform the usual duties of an employee in any office
 of the Insured, and

Bond (6/18)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) each individual
 assigned to perform the usual duties of an employee or officer of any entity authorized by
 written agreement with the Insured to perform services as electronic data processor of checks
 or other accounting records of the Insured, but excluding a processor which acts as transfer
 agent or in any other agency capacity for the Insured in issuing checks, drafts or securities,
 unless included under subsection (5) hereof, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) each officer, partner or employee of

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Depository or Exchange,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any nominee
 in whose name is registered any Security included in the systems for the central handling
 of securities established and maintained by any Depository, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any recognized
 service company which provides clerks or other personnel to any Depository or Exchange on
 a contract basis,

while such officer, partner or employee is performing services for any Depository in the operation of systems for the central handling of securities, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) in the
 case of an Insured which is an "employee benefit plan" (as defined in Section 3
 of the Employee Retirement Income Security Act of 1974 ("ERISA")) for officers,
 directors or employees of another Insured ("In-House Plan"), any "fiduciary"
 or other "plan official" (within the meaning of Section 412 of ERISA) of
 such In-House Plan, provided that such fiduciary or other plan official is a director, partner,
 officer, trustee or employee of an Insured (other than an In-House Plan).

Each employer of temporary personnel and each entity referred to in subsections (6) and (7) and their respective partners, officers and employees shall collectively be deemed to be one person for all the purposes of this Bond.

Brokers, agents, independent contractors, or representatives of the same general character shall not be considered Employees, except as provided in subsections (3), (6), and (7).

**O.** **"Exchange"** means any national securities exchange registered
 under the Securities Exchange Act of 1934.

**P.** **"Forgery"** means the physical signing on a document of the
 name of another person with the intent to deceive. A Forgery may be by means of mechanically
 reproduced facsimile signatures as well as handwritten signatures. Forgery does not include
 the signing of an individual's own name, regardless of such individual's authority,
 capacity or purpose.

**Q.** **"Items of Deposit"** means one or more checks or drafts.

**R.** **"Investment Company"** or **"Fund"** means
 an investment company registered under the Investment Company Act of 1940.

**S.** **"Limit of Liability"** means, with respect to any Insuring
 Agreement, the limit of liability of the Underwriter for any Single Loss covered by such
 Insuring Agreement as set forth under the heading "Limit of Liability" in Item
 3 of the Declarations or in any Rider for such Insuring Agreement.

**T.** **"Mysterious Disappearance"** means any disappearance of Property
 which, after a reasonable investigation has been conducted, cannot be explained.

Bond (6/18)

**U.** **"Non-Fund"** means any corporation, business trust, partnership,
 trust or other entity which is not an Investment Company.

**V.** **"Officially Designated"** means designated by the Shareholder
 of Record:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in the
 initial account application,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) in writing
 accompanied by a signature guarantee, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) in writing
 or by Electronic Transmission, where such designation is verified via a callback to the Shareholder
 of Record by the Insured at a predetermined telephone number provided by the Shareholder
 of Record to the Insured in writing at least 30 days prior to such callback.

**W.** **"Original"** means the first rendering or archetype and does
 not include photocopies or electronic transmissions even if received and printed.

**X.** **"Phone/Electronic Transaction"** means any (1) redemption
 of shares issued by an Investment Company, (2) election concerning dividend options
 available to Fund shareholders, (3) exchange of shares in a registered account of one
 Fund into shares in an identically registered account of another Fund in the same complex
 pursuant to exchange privileges of the two Funds, or (4) purchase of shares issued by
 an Investment Company, which redemption, election, exchange or purchase is requested by voice
 over the telephone or through an Electronic Transmission.

**Y.** **"Phone/Electronic Transaction Security Procedures"** means security
 procedures for Phone/Electronic Transactions as set forth in the Application and/or as otherwise provided in writing
 to the Underwriter.

**Z.** **"Property"** means the following tangible items: money, postage
 and revenue stamps, precious metals, Securities, bills of exchange, acceptances, checks,
 drafts, or other written orders or directions to pay sums certain in money, certificates
 of deposit, due bills, money orders, letters of credit, financial futures contracts, conditional
 sales contracts, abstracts of title, insurance policies, deeds, mortgages, and assignments
 of any of the foregoing, and other valuable papers, including books of account and other
 records used by the Insured in the conduct of its business, and all other instruments similar
 to or in the nature of the foregoing (but excluding all data processing records), (1) in
 which the Insured has a legally cognizable interest, (2) in which the Insured acquired
 or should have acquired such an interest by reason of a predecessor's declared financial
 condition at the time of the Insured's consolidation or merger with, or purchase of
 the principal assets of, such predecessor or (3) which are held by the Insured for any
 purpose or in any capacity.

---

| | |
|:---|:---|
| **AA.** | **"Securities"** means original negotiable or non-negotiable agreements or instruments which represent an equitable or legal interest, ownership or debt (including stock certificates, bonds, promissory notes, and assignments thereof), which are in the ordinary course of business transferable by physical delivery with appropriate endorsement or assignment. "Securities" does not include bills of exchange, acceptances, certificates of deposit, checks, drafts, or other written orders or directions to pay sums certain in money, due bills, money orders, or letters of credit. |

---

---

| | |
|:---|:---|
| **BB.** | **"Security Company"** means an entity which provides or purports to provide the transport of Property by secure means, including, without limitation, by use of armored vehicles or guards. |

---

Bond (6/18)

**CC.** **"Self-Regulatory Organization"** means any association of investment
 advisers or securities dealers registered under the federal securities laws, or any Exchange.

**DD.** **"Shareholder of Record"** means the record owner of shares
 issued by an Investment Company or, in the case of joint ownership of such shares, all record
 owners, as designated (1) in the initial account application, or (2) in writing
 accompanied by a signature guarantee, or (3) pursuant to procedures as set forth in
 the Application and/or as otherwise provided in writing to the Underwriter.

---

| | |
|:---|:---|
| **EE.** | **"Single Loss"** means: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) all loss
 caused by any one act (other than a Dishonest or Fraudulent Act) committed by one person,
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) all loss
 caused by Dishonest or Fraudulent Acts committed by one person, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) all expenses
 incurred with respect to any one audit or examination, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) all loss
 caused by any one occurrence or event other than those specified in subsections (1) through
 (3) above.

All acts or omissions of one or more persons which directly or indirectly aid or, by failure to report or otherwise, permit the continuation of an act referred to in subsections (1) and (2) above of any other person shall be deemed to be the acts of such other person for purposes of this subsection.

All acts or occurrences or events which have as a common nexus any fact, circumstance, situation, transaction or series of facts, circumstances, situations, or transactions shall be deemed to be one act, one occurrence, or one event.

---

| | |
|:---|:---|
| **FF.** | **"Telefacsimile"** means a system of transmitting and reproducing fixed graphic material (as, for example, printing) by means of signals transmitted over telephone lines or over the Internet. |

---

---

| | |
|:---|:---|
| **GG.** | **"Written"** means expressed through letters or marks placed upon paper and visible to the eye. |

---

**SECTION 2. EXCLUSIONS**

THIS BOND DOES NOT COVER:

A. Loss resulting
 from (1) riot or civil commotion outside the United States of America and Canada, or
 (2) war, revolution, insurrection, action by armed forces, or usurped power, wherever
 occurring; except if such loss occurs while the Property is in transit, is otherwise covered
 under Insuring Agreement D, and when such transit was initiated, the Insured or any person
 initiating such transit on the Insured's behalf had no knowledge of such riot, civil
 commotion, war, revolution, insurrection, action by armed forces, or usurped power.

B. Loss in time of peace or war resulting from
 nuclear fission or fusion or radioactivity, or biological or chemical agents or hazards,
 or fire, smoke, or explosion, or the effects of any of the foregoing.

C. Loss resulting from any Dishonest or Fraudulent
 Act committed by any person while acting in the capacity of a member of the Board of Directors
 or any equivalent body of the Insured or of any other entity.

Bond (6/18)

D. Loss resulting from any nonpayment or other
 default of any loan or similar transaction made by the Insured or any of its partners, directors,
 officers or employees, whether or not authorized and whether procured in good faith or through
 a Dishonest or Fraudulent Act, unless such loss is otherwise covered under Insuring Agreement
 A, E, or F.

E. Loss resulting from any violation by the
 Insured or by any Employee of any law, or any rule or regulation pursuant thereto or
 adopted by a Self-Regulatory Organization, regulating the issuance, purchase or sale of securities,
 securities transactions upon security exchanges or over the counter markets, Investment
 Companies, or investment advisers, unless such loss, in the absence of such law, rule or
 regulation, would be covered under Insuring Agreement A, E, or F.

F. Loss resulting from Property that is the
 object of a Dishonest or Fraudulent Act or Mysterious Disappearance while in the custody
 of any Security Company, unless such loss is covered under this Bond and is in excess of
 the amount recovered or received by the Insured under (1) the Insured's contract
 with such Security Company, and (2) insurance or indemnity of any kind carried by such
 Security Company for the benefit of, or otherwise available to, users of its service, in
 which case this Bond shall cover only such excess, subject to the applicable Limit of Liability
 and Deductible Amount.

G. Potential income, including but not limited
 to interest and dividends, not realized by the Insured because of a loss covered under this
 Bond, except when covered under Insuring Agreement H.

H. Loss in the form of (1) damages of
 any type for which the Insured is legally liable, except direct compensatory damages, or
 (2) taxes, fines, or penalties, including without limitation two-thirds of treble damage
 awards pursuant to judgments under any statute or regulation.

I. Loss resulting from the surrender of Property
 away from an office of the Insured as a result of kidnap, ransom, or extortion, or a threat

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) to do bodily
 harm to any person, except where the Property is in transit in the custody of any person
 acting as messenger as a result of a threat to do bodily harm to such person, if the Insured
 had no knowledge of such threat at the time such transit was initiated, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) to do damage
 to the premises or Property of the Insured,

unless such loss is otherwise covered under Insuring Agreement A.

J. All costs, fees, and other expenses incurred
 by the Insured in establishing the existence of or amount of loss covered under this Bond,
 except to the extent certain audit expenses are covered under Insuring Agreement B.

K. Loss resulting from payments made to or
 withdrawals from any account, involving funds erroneously credited to such account, unless
 such loss is otherwise covered under Insuring Agreement A.

L. Loss resulting from uncollectible Items
 of Deposit which are drawn upon a financial institution outside the United States of America,
 its territories and possessions, or Canada.

M. Loss resulting from the Dishonest or Fraudulent
 Acts or other acts or omissions of an Employee primarily engaged in the sale of shares issued
 by an Investment Company to persons other than (1) a person registered as a broker under
 the Securities Exchange Act of 1934 or (2) an "accredited investor" as defined
 in Rule 501(a) of Regulation D under the Securities Act of 1933, which is not an
 individual.

Bond (6/18)

N. Loss resulting from the use of credit, debit,
 charge, access, convenience, identification, cash management or other cards, whether such
 cards were issued or purport to have been issued by the Insured or by anyone else, unless
 such loss is otherwise covered under Insuring Agreement A.

O. Loss resulting from any purchase, redemption
 or exchange of securities issued by an Investment Company or other Insured, or any other
 instruction, request, acknowledgement, notice or transaction involving securities issued
 by an Investment Company or other Insured or the dividends in respect thereof, when any of
 the foregoing is requested, authorized or directed or purported to be requested, authorized
 or directed by voice over the telephone or by Electronic Transmission, unless such loss is
 otherwise covered under Insuring Agreement A or Insuring Agreement I.

P. Loss resulting from any Dishonest or Fraudulent
 Act or committed by an Employee as defined in Section 1.N(2), unless such loss (1) could
 not have been reasonably discovered by the due diligence of the Insured at or prior to the
 time of acquisition by the Insured of the assets acquired from a predecessor, and (2) arose
 out of a lawsuit or valid claim brought against the Insured by a person unaffiliated with
 the Insured or with any person affiliated with the Insured.

Q. Loss resulting from the unauthorized entry
 of data into, or the deletion or destruction of data in, or the change of data elements or
 programs within, any Computer System, unless such loss is otherwise covered under Insuring
 Agreement A.

R. Loss resulting from the theft, disappearance,
 destruction, disclosure, or unauthorized use of confidential or personal information (including,
 but not limited to, trade secrets, personal shareholder or client information, shareholder
 or client lists, personally identifiable financial or medical information, intellectual property,
 or any other type of non-public information), whether such information is owned by the Insured
 or held by the Insured in any capacity (including concurrently with another person); provided,
 however, this exclusion shall not apply to loss arising out of the use of such information
 to support or facilitate the commission of an act otherwise covered by this Bond.

S. All costs, fees, and other expenses arising
 from a data security breach or incident, including, but not limited to, forensic audit expenses,
 fines, penalties, expenses to comply with federal and state laws and expenses related to
 notifying affected individuals.

T. Loss resulting from vandalism or malicious
 mischief.

U. Loss resulting from the theft, disappearance,
 or destruction of Cryptocurrency or from the change in value of Cryptocurrency, unless such
 loss (1) is sustained by any investment company registered under the Investment Company
 Act of 1940 that is named as an Insured and (2) is otherwise covered under Insuring
 Agreement A.

**SECTION 3. ASSIGNMENT OF RIGHTS**

Upon payment to the Insured hereunder for any loss, the Underwriter shall be subrogated to the extent of such payment to all of the Insured's rights and claims in connection with such loss; provided, however, that the Underwriter shall not be subrogated to any such rights or claims one named Insured under this Bond may have against another named Insured under this Bond. At the request of the Underwriter, the Insured shall execute all assignments or other documents and take such action as the Underwriter may deem necessary or desirable to secure and perfect such rights and claims, including the execution of documents necessary to enable the Underwriter to bring suit in the name of the Insured.

Bond (6/18)

Assignment of any rights or claims under this Bond shall not bind the Underwriter without the Underwriter's written consent.

**SECTION 4. LOSS**—**NOTICE**—**PROOF**—**LEGAL PROCEEDINGS**

This Bond is for the use and benefit only of the Insured and the Underwriter shall not be liable hereunder to anyone other than the Insured. As soon as practicable and not more than sixty (60) days after discovery of any loss covered hereunder, the Insured shall give the Underwriter written notice thereof and, as soon as practicable and within one year after such discovery, shall also furnish to the Underwriter affirmative proof of loss with full particulars. The Underwriter may extend the sixty-day notice period or the one-year proof of loss period if the Insured requests an extension and shows good cause therefor.

The Insured shall provide the Underwriter with such information, assistance, and cooperation as the Underwriter may reasonably request.

See also General Agreement C (Court Costs and Attorneys' Fees).

The Underwriter shall not be liable hereunder for loss of Securities unless each of the Securities is identified in such proof of loss by a certificate or bond number or by such identification means as the Underwriter may require. The Underwriter shall have a reasonable period after receipt of a proper affirmative proof of loss within which to investigate the claim, but where the Property is Securities and the loss is clear and undisputed, settlement shall be made within forty-eight (48) hours even if the loss involves Securities of which duplicates may be obtained.

The Insured shall not bring legal proceedings against the Underwriter to recover any loss hereunder prior to sixty (60) days after filing such proof of loss or subsequent to twenty-four (24) months after the discovery of such loss or, in the case of a legal proceeding to recover hereunder on account of any judgment against the Insured in or settlement of any suit mentioned in General Agreement C or to recover court costs or attorneys' fees paid in any such suit, twenty-four (24) months after the date of the final judgment in or settlement of such suit. If any limitation in this Bond is prohibited by any applicable law, such limitation shall be deemed to be amended to be equal to the minimum period of limitation permitted by such law.

Notice hereunder shall be given to Manager, Professional Liability Claims, ICI Mutual Insurance Company, RRG, 1401 H St. NW, Washington, DC 20005, with an electronic copy to LegalSupport@icimutual.com.

**SECTION 5. DISCOVERY**

For all purposes under this Bond, a loss is discovered, and discovery of a loss occurs, when the Insured

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) becomes
 aware of facts, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) receives
 notice of an actual or potential claim by a third party which alleges that the Insured is
 liable under circumstances,

which would cause a reasonable person to assume that a loss of a type covered by this Bond has been or is likely to be incurred, regardless of when the act or acts causing or contributing to such loss occurred, even though the exact amount or details of the loss may not be known.

Bond (6/18)

**SECTION 6. VALUATION OF PROPERTY**

For the purpose of determining the amount of any loss hereunder, the value of any Property shall be the market value of such Property at the close of business on the first business day before the discovery of such loss; except that

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the value
 of any Property replaced by the Insured prior to the payment of a claim therefor shall be
 the actual market value of such Property at the time of replacement, but not in excess of
 the market value of such Property on the first business day before the discovery of the loss
 of such Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the value
 of Securities which must be produced to exercise subscription, conversion, redemption or
 deposit privileges shall be the market value of such privileges immediately preceding the
 expiration thereof if the loss of such Securities is not discovered until after such expiration,
 but if there is no quoted or other ascertainable market price for such Property or privileges
 referred to in clauses (1) and (2), their value shall be fixed by agreement between
 the parties or by arbitration before an arbitrator or arbitrators acceptable to the parties;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the value
 of books of accounts or other records used by the Insured in the conduct of its business
 shall be limited to the actual cost of blank books, blank pages or other materials if
 the books or records are reproduced plus the cost of labor for the transcription or copying
 of data furnished by the Insured for reproduction.

**SECTION 7. LOST SECURITIES**

The maximum liability of the Underwriter hereunder for lost Securities shall be the payment for, or replacement of, such Securities having an aggregate value not to exceed the applicable Limit of Liability. If the Underwriter shall make payment to the Insured for any loss of Securities, the Insured shall assign to the Underwriter all of the Insured's right, title and interest in and to such Securities. In lieu of such payment, the Underwriter may, at its option, replace such lost Securities, and in such case the Insured shall cooperate to effect such replacement. To effect the replacement of lost Securities, the Underwriter may issue or arrange for the issuance of a lost instrument bond. If the value of such Securities does not exceed the applicable Deductible Amount (at the time of the discovery of the loss), the Insured will pay the usual premium charged for the lost instrument bond and will indemnify the issuer of such bond against all loss and expense that it may sustain because of the issuance of such bond.

If the value of such Securities exceeds the applicable Deductible Amount (at the time of discovery of the loss), the Insured will pay a proportion of the usual premium charged for the lost instrument bond, equal to the percentage that the applicable Deductible Amount bears to the value of such Securities upon discovery of the loss, and will indemnify the issuer of such bond against all loss and expense that is not recovered from the Underwriter under the terms and conditions of this Bond, subject to the applicable Limit of Liability.

**SECTION 8. SALVAGE**

If any recovery is made, whether by the Insured or the Underwriter, on account of any loss within the applicable Limit of Liability hereunder, the Underwriter shall be entitled to the full amount of such recovery to reimburse the Underwriter for all amounts paid hereunder with respect to such loss. If any recovery is made, whether by the Insured or the Underwriter, on account of any loss in excess of the applicable Limit of Liability hereunder plus the Deductible Amount applicable to such loss from any source other than suretyship, insurance, reinsurance, security or indemnity taken by or for the benefit of the Underwriter, the amount of such recovery, net of the actual costs and expenses of recovery, shall be applied to reimburse the Insured in full for the portion of such loss in excess of such Limit of Liability, and the remainder, if any, shall be paid first to reimburse the Underwriter for all amounts paid hereunder with respect to such loss and then to the Insured to the extent of the portion of such loss within the Deductible Amount. The Insured shall execute all documents which the Underwriter deems necessary or desirable to secure to the Underwriter the rights provided for herein.

Bond (6/18)

**SECTION 9. NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY**

Prior to its termination, this Bond shall continue in force up to the Limit of Liability for each Insuring Agreement for each Single Loss, notwithstanding any previous loss (other than such Single Loss) for which the Underwriter may have paid or be liable to pay hereunder; PROVIDED, however, that regardless of the number of years this Bond shall continue in force and the number of premiums which shall be payable or paid, the liability of the Underwriter under this Bond with respect to any Single Loss shall be limited to the applicable Limit of Liability irrespective of the total amount of such Single Loss and shall not be cumulative in amounts from year to year or from period to period.

**SECTION 10. MAXIMUM LIABILITY OF UNDERWRITER; OTHER BONDS OR POLICIES**

The maximum liability of the Underwriter for any Single Loss covered by any Insuring Agreement under this Bond shall be the Limit of Liability applicable to such Insuring Agreement, subject to the applicable Deductible Amount and the other provisions of this Bond. Recovery for any Single Loss may not be made under more than one Insuring Agreement. If any Single Loss covered under this Bond is recoverable or recovered in whole or in part because of an unexpired discovery period under any other bonds or policies issued by the Underwriter to the Insured or to any predecessor in interest of the Insured, the maximum liability of the Underwriter shall be the greater of either (1) the applicable Limit of Liability under this Bond, or (2) the maximum liability of the Underwriter under such other bonds or policies.

**SECTION 11. OTHER INSURANCE**

Notwithstanding anything to the contrary herein, if any loss covered by this Bond shall also be covered by other insurance or suretyship for the benefit of the Insured, the Underwriter shall be liable hereunder only for the portion of such loss in excess of the amount recoverable under such other insurance or suretyship, but not exceeding the applicable Limit of Liability of this Bond.

**SECTION 12. DEDUCTIBLE AMOUNT**

The Underwriter shall not be liable under any Insuring Agreement unless the amount of the loss covered thereunder, after deducting the net amount of all reimbursement and/or recovery received by the Insured with respect to such loss (other than from any other bond, suretyship or insurance policy or as an advance by the Underwriter hereunder) shall exceed the applicable Deductible Amount; in such case the Underwriter shall be liable only for such excess, subject to the applicable Limit of Liability and the other terms of this Bond.

No Deductible Amount shall apply to any loss covered under Insuring Agreement A sustained by any Investment Company named as an Insured.

Bond (6/18)

**SECTION 13. TERMINATION**

The Underwriter may terminate this Bond as to any Insured or all Insureds only by written notice to such Insured or Insureds and, if this Bond is terminated as to any Investment Company, to each such Investment Company terminated thereby and to the Securities and Exchange Commission, Washington, D.C., in all cases not less than sixty (60) days prior to the effective date of termination specified in such notice.

The Insured may terminate this Bond only by written notice to the Underwriter not less than sixty (60) days prior to the effective date of the termination specified in such notice. Notwithstanding the foregoing, when the Insured terminates this Bond as to any Investment Company, the effective date of termination shall be not less than sixty (60) days from the date the Underwriter provides written notice of the termination to each such Investment Company terminated thereby and to the Securities and Exchange Commission, Washington, D.C.

This Bond will terminate as to any Insured that is a Non-Fund immediately and without notice upon (1) the takeover of such Insured's business by any State or Federal official or agency, or by any receiver or liquidator, or (2) the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization of the Insured, or assignment for the benefit of creditors of the Insured.

Premiums are earned until the effective date of termination. The Underwriter shall refund the unearned premium computed at short rates in accordance with the Underwriter's standard short rate cancellation tables if this Bond is terminated by the Insured or pro rata if this Bond is terminated by the Underwriter.

Upon the detection by any Insured that an Employee has committed any Dishonest or Fraudulent Act(s), the Insured shall immediately remove such Employee from a position that may enable such Employee to cause the Insured to suffer a loss by any subsequent Dishonest or Fraudulent Act(s). The Insured, within two (2) business days of such detection, shall notify the Underwriter with full and complete particulars of the detected Dishonest or Fraudulent Act(s).

For purposes of this section, detection occurs when any partner, officer, or supervisory employee of any Insured, who is not in collusion with such Employee, becomes aware that the Employee has committed any Dishonest or Fraudulent Act(s).

This Bond shall terminate as to any Employee by written notice from the Underwriter to each Insured and, if such Employee is an Employee of an Insured Investment Company, to the Securities and Exchange Commission, in all cases not less than sixty (60) days prior to the effective date of termination specified in such notice.

**SECTION 14. RIGHTS AFTER TERMINATION**

At any time prior to the effective date of termination of this Bond as to any Insured, such Insured may, by written notice to the Underwriter, elect to purchase the right under this Bond to an additional period of twelve (12) months within which to discover loss sustained by such Insured prior to the effective date of such termination and shall pay an additional premium therefor as the Underwriter may require.

Such additional discovery period shall terminate immediately and without notice upon the takeover of such Insured's business by any State or Federal official or agency, or by any receiver or liquidator. Promptly after such termination the Underwriter shall refund to the Insured any unearned premium.

Bond (6/18)

The right to purchase such additional discovery period may not be exercised by any State or Federal official or agency, or by any receiver or liquidator, acting or appointed to take over the Insured's business.

**SECTION 15. CENTRAL HANDLING OF SECURITIES**

The Underwriter shall not be liable for loss in connection with the central handling of securities within the systems established and maintained by any Depository ("Systems"), unless the amount of such loss exceeds the amount recoverable or recovered under any bond or policy or participants' fund insuring the Depository against such loss (the "Depository's Recovery"); in such case the Underwriter shall be liable hereunder only for the Insured's share of such excess loss, subject to the applicable Limit of Liability, the Deductible Amount and the other terms of this Bond.

For determining the Insured's share of such excess loss, (1) the Insured shall be deemed to have an interest in any certificate representing any security included within the Systems equivalent to the interest the Insured then has in all certificates representing the same security included within the Systems; (2) the Depository shall have reasonably and fairly apportioned the Depository's Recovery among all those having an interest as recorded by appropriate entries in the books and records of the Depository in Property involved in such loss, so that each such interest shall share in the Depository's Recovery in the ratio that the value of each such interest bears to the total value of all such interests; and (3) the Insured's share of such excess loss shall be the amount of the Insured's interest in such Property in excess of the amount(s) so apportioned to the Insured by the Depository.

This Bond does not afford coverage in favor of any Depository or Exchange or any nominee in whose name is registered any security included within the Systems.

**SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED**

If more than one entity is named as the Insured:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. the total liability
 of the Underwriter hereunder for each Single Loss shall not exceed the Limit of Liability
 which would be applicable if there were only one named Insured, regardless of the number
 of Insured entities which sustain loss as a result of such Single Loss,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. the Insured
 first named in Item 1 of the Declarations shall be deemed authorized to make, adjust, and
 settle, and receive and enforce payment of, all claims hereunder as the agent of each other
 Insured for such purposes and for the giving or receiving of any notice required or permitted
 to be given hereunder; provided, that the Underwriter shall promptly furnish each named Insured
 Investment Company with (1) a copy of this Bond and any amendments thereto, (2) a
 copy of each formal filing of a claim hereunder by any other Insured, and (3) notification
 of the terms of the settlement of each such claim prior to the execution of such settlement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. the Underwriter
 shall not be responsible or have any liability for the proper application by the Insured
 first named in Item 1 of the Declarations of any payment made hereunder to the first named
 Insured,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. for the purposes
 of Sections 4 and 13, knowledge possessed or discovery made by any partner, officer or supervisory
 Employee of any Insured shall constitute knowledge or discovery by every named Insured,

Bond (6/18)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. if the first
 named Insured ceases for any reason to be covered under this Bond, then the Insured next
 named shall thereafter be considered as the first named Insured for the purposes of this
 Bond, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. each named Insured
 shall constitute "the Insured" for all purposes of this Bond.

**SECTION 17. NOTICE AND CHANGE OF CONTROL**

Within thirty (30) days after learning that there has been a change in control of an Insured by transfer of its outstanding voting securities the Insured shall give written notice to the Underwriter of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. the names of
 the transferors and transferees (or the names of the beneficial owners if the voting securities
 are registered in another name), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. the total number
 of voting securities owned by the transferors and the transferees (or the beneficial owners),
 both immediately before and after the transfer, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. the total number
 of outstanding voting securities.

As used in this Section, "control" means the power to exercise a controlling influence over the management or policies of the Insured.

**SECTION 18. CHANGE OR MODIFICATION**

This Bond may only be modified by written Rider forming a part hereof over the signature of the Underwriter's authorized representative. Any Rider which modifies the coverage provided by Insuring Agreement A, Fidelity, in a manner which adversely affects the rights of an Insured Investment Company shall not become effective until at least sixty (60) days after the Underwriter has given written notice thereof to the Securities and Exchange Commission, Washington, D.C., and to each Insured Investment Company affected thereby.

**SECTION 19. COMPLIANCE WITH APPLICABLE TRADE AND ECONOMIC SANCTIONS**

This Bond shall not be deemed to provide any coverage, and the Underwriter shall not be required to pay any loss or provide any benefit hereunder, to the extent that the provision of such coverage, payment of such loss or provision of such benefit would cause the Underwriter to be in violation of any applicable trade or economic sanctions, laws or regulations, including, but not limited to, any sanctions, laws or regulations administered and enforced by the U.S. Department of Treasury Office of Foreign Assets Control (OFAC).

**SECTION 20. ANTI-BUNDLING**

If any Insuring Agreement requires that an enumerated type of document be Counterfeit, or contain a Forgery or Alteration, the Counterfeit, Forgery, or Alteration must be on or of the enumerated document itself, not on or of some other document submitted with, accompanying or incorporated by reference into the enumerated document.

IN WITNESS WHEREOF, the Underwriter has caused this Bond to be executed on the Declarations Page.

Bond (6/18)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 1**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** | | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that Item 1 of the Declarations, Name of Insured, shall include the following:

Calamos Asset Management, Inc.

Calamos Family Partners, Inc.

Calamos Financial Services LLC

Calamos International Holdings LLC

Calamos International Holdings II LLC

Calamos Investments LLC

Calamos Opis LLC

Calamos Partners LLC

Calamos Profit Sharing 401(k) Plan

Calamos Wealth Management LLC

Primacy Business Center LLC

Calamos Investment Trust, a series fund consisting of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Convertible Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Dividend Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Evolving World Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Global Convertible Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Global Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Global Opportunities Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Growth & Income Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Hedged Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos High Income Opportunities Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos International Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Market Neutral Income Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Phineus Long/Short Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Select Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Short-Term Bond Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Timpani Small Cap Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Timpani SMID Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Total Return Bond Fund

Calamos Advisors Trust, a series fund consisting of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Growth & Income Portfolio

Calamos Convertible and High Income Fund

Calamos Convertible Opportunities and Income Fund

Calamos Dynamic Convertible and Income Fund

Calamos Global Dynamic Income Fund

Calamos Global Total Return Fund

Calamos Long/Short Equity & Dynamic Income Trust

Calamos Strategic Total Return Fund

Calamos Advisors LLC Master Group Trust, a series trust consisting of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Global Convertible Securities Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Global Equity Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Global Opportunities Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o International Convertible Securities
 Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o International Growth Trust

Calamos Ares Quant Fund I, LP

Calamos Global Opportunities Fund LP

Calamos Hunt Alternative Income Fund

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0001.0-00 (01/02)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 2**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that this Bond (other than Insuring Agreements C and D) does not cover loss resulting from or in connection with any business, activities, or acts or omissions of (including services rendered by) any Insured which is <u>not</u> an Insured Fund ("Non-Fund Insured") or any Employee of a Non-Fund Insured, <u>except</u> loss, otherwise covered by the terms of this Bond, resulting from or in connection with

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) services rendered
 by a Non-Fund Insured to an Insured Fund, or to shareholders of such Fund in connection with
 the issuance, transfer, or redemption of their Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Investment
 Advisory Services rendered by a Non-Fund Insured to an investment advisory client of such
 Non-Fund Insured; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Personal Financial
 Planning Services by Calamos Wealth Management LLC to any of its clients who are individuals;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) in the case
 of a Non-Fund Insured substantially all of whose business is rendering the services described
 in (1) or (2) above, the general business, activities or operations of such Non-Fund
 Insured, <u>excluding</u> (a) the rendering of services (other than those described
 in (1) or (2) above) to any person, or (b) the sale of goods or property of
 any kind.

It is further understood and agreed that with respect to any Non-Fund Insured, Insuring Agreements C and D only cover loss of Property which a Non-Fund Insured uses or holds, or in which a Non-Fund Insured has an interest, in each case wholly or partially in connection with the rendering of services described in (1), (2) or (3) above.

As used herein, "Investment Advisory Services" means (a) advice with respect to the desirability of investing in, purchasing or selling securities or other property, including the power to determine what securities or other property shall be purchased or sold, but <u>not</u> including furnishing <u>only</u> statistical and other factual information (such as economic factors and trends); and (b) the provision of financial, economic or investment management services, but only if ancillary and related to the advice referred to in clause (a) above.

It is further understood and agreed that as used herein, "Personal Financial Planning Services" means the personal financial planning services that are specifically described in the Application but not including solely Investment Advisory Services.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0003.3-01 (07/20)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 3**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that for purposes of this Bond the term "Investment Company" or "Fund" shall be deemed to include the following:

Calamos Global Opportunities Fund LP

Calamos Advisors LLC Master Group Trust, a series fund consisting of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o International Convertible Securities
 Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Global Convertible Securities Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Global Opportunities Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Global Equity Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o International Growth Trust

Calamos Ares Quant Fund I, LP

Except as stated above, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0001.3-00 (01/02)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 4**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that this Bond (other than Insuring Agreements C and D) does not cover loss resulting from or in connection with any business, activities, acts or omissions of any Insured or any Employee of any Insured where such loss is based upon, arises out of or in any way involves the provision of services to any Plan, <u>EXCEPT</u> loss, otherwise covered by the terms of this Bond, resulting from, or in connection with the business of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the provision
 of Investment Advisory Services by an Insured to any In-House Plan; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the provision
 of Administrative Services by an Insured to any In-House Plan; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) the provision
 of Investment Advisory Services by an Insured ("Adviser") to any Third Party
 Plan that is a client of the Adviser.

It is further understood and agreed that Insuring Agreements C and D only cover loss of Property which an Insured uses or holds, or in which the Insured has an interest, in each case in connection with (a), (b), or (c) above.

It is further understood and agreed that notwithstanding the foregoing, this Bond (other than Insuring Agreements C and D) does not cover loss resulting from or in connection with, and Insuring Agreements C and D do not cover loss of Property which an Insured uses or holds, or in which it has an interest, in each case in connection with:

(1) the discretionary
 voting by or on behalf of any Plan of Designated Securities owned or held by such Plan, <u>unless</u>,
 in the case of a vote by or on behalf of the Plan, such vote was pursuant to the direction
 of a majority of trustees of such Plan who were not then Interested Trustees;

(2) custodial services
 for the safekeeping and custody of securities or other property;

(3) liability of
 an Insured arising from its status as the employer of employees covered by a Plan (including
 liability arising from the Insured's failure to collect contributions or to pay benefits);
 or

(4) in the case
 of an Insured acting or purporting to act as a trustee or "directed trustee"
 for any Third Party Plan, any liability of the Insured arising from its actual or alleged
 status as a fiduciary (within the meaning of the Employee Retirement Income Security Act
 of 1974, as amended ("ERISA")) to any such Third Party Plan or its actual or
 alleged violation of Section 502(a)(3) of ERISA, except that this subpart (4) shall
 not preclude indemnification for associated court costs and attorneys' fees for which
 coverage is otherwise available under General Agreement C of this Bond.)

It is further understood and agreed that for purposes of this rider:

(1) "Administrative
 Services" shall mean administrative services, including, without limitation, voting
 securities which are Plan assets, causing Plan assets to be invested as directed in accordance
 with the Plan, and maintaining records and preparing reports with respect to Plan contributions,
 participant accounts and investments.

(2) "Affiliated
 Entity" means any entity controlling, controlled by, or under common control with an
 Insured.

(3) "Designated
 Securities" means securities issued by an Insured, or by any Affiliated Entity, or
 by any Fund to which such Insured or any Affiliated Entity provides any services.

(4) "Interested
 Trustee" means any trustee of a Plan who is also (a) an officer, director, trustee,
 partner or employee of, or who owns, controls, or holds power to vote 5% or more of the outstanding
 voting securities of, (i) any Insured (other than such Plan), or (ii) any Affiliated
 Entity, or (iii) any Fund to which such Insured or any Affiliated Entity provides any
 services, or (b) an Insured or an Affiliated Entity.

(5) "Investment
 Advisory Services" means (a) advice with respect to the desirability of investing
 in, purchasing or selling securities or other property, including the power to determine
 what securities or other property shall be purchased or sold, but <u>not</u> including furnishing <u>only</u> statistical and other factual information (such as economic factors and trends);
 and (b) the provision of financial, economic or investment management services, but
 only if ancillary and related to the advice referred to in clause (a) above.

(6) "Plan"
 means any retirement or other employee benefit plan, including any trust relating thereto.

(7) "In-House
 Plan" means any Plan for employees of an Insured, or for any Affiliated Entity, but
 always excluding employee stock ownership plans, stock bonus plans, and any trusts relating
 thereto.

(8) "Third
 Party Plan" means any Plan for employees of an entity that is neither an Insured nor
 an Affiliated Entity.

It is further understood and agreed that with respect to In-House Plans, for purposes of Rider No. 2 of this Bond only, an In-House Plan named as an Insured under this Bond shall not be deemed to be a Non-Fund.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0010.0-01 (12/16)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 5**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that notwithstanding anything to the contrary in this Bond, this Bond shall not cover loss resulting from or in connection with the discretionary voting by any Insured of securities owned or held by any client of such Insured, where such securities are issued by (1) such Insured, or (2) any entity controlling, controlled by, or under common control with such Insured, ("Affiliated Entity"), or (3) any Fund to which such Insured or any Affiliated Entity provides any services.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0012.0-01 (01/02)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 6**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that notwithstanding Section 2.Q of this Bond, this Bond is amended by adding an additional Insuring Agreement J as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J. COMPUTER SECURITY

Loss (including loss of Property) resulting directly from Computer Fraud; <u>provided</u>, that the Insured has adopted in writing and generally maintains and follows during the Bond Period all Computer Security Procedures. The isolated failure of the Insured to maintain and follow a particular Computer Security Procedure in a particular instance will not preclude coverage under this Insuring Agreement, subject to the specific exclusions herein and in the Bond.

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Definitions</u>.
 The following terms used in this Insuring Agreement shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. "Authorized
 User" means any person or entity designated by the Insured (through contract, assignment
 of User Identification, or otherwise) as authorized to use a Covered Computer System, or
 any part thereof. An individual who invests in an Insured Fund shall not be considered to
 be an Authorized User solely by virtue of being an investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. "Computer
 Fraud" means the unauthorized entry of data into, or the deletion or destruction of
 data in, or change of data elements or programs within, a Covered Computer System which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) is committed
 by any Unauthorized Third Party anywhere, alone or in collusion with other Unauthorized Third
 Parties; <u>and</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) is committed
 with the conscious manifest intent (a) to cause the Insured to sustain a loss, <u>and</u> (b) to obtain financial benefit for the perpetrator or any other person; <u>and</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) causes
 (x) Property to be transferred, paid or delivered; <u>or</u> (y) an account of
 the Insured, or of its customer, to be added, deleted, debited or credited; <u>or</u> (z) an
 unauthorized or fictitious account to be debited or credited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. "Computer
 Security Procedures" means procedures for prevention of unauthorized computer access
 and use and administration of computer access and use as provided in writing to the Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. "Covered
 Computer System" means any Computer System as to which the Insured has possession,
 custody and control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. "Unauthorized
 Third Party" means any person or entity that, at the time of the Computer Fraud, is
 not an Authorized User.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. "User
 Identification" means any unique user name (*i.e.*, a series of characters) that
 is assigned to a person or entity by the Insured.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Exclusions</u>.
 It is further understood and agreed that this Insuring Agreement J shall not cover:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Any loss
 covered under Insuring Agreement A, "Fidelity," of this Bond; <u>and</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any loss
 resulting from the intentional failure to adhere to one or more Computer Security Procedures; <u>and</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Any loss
 resulting from a Computer Fraud committed by or in collusion with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) any Authorized
 User (whether a natural person or an entity); <u>or</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) in the case
 of any Authorized User which is an entity, (a) any director, officer, partner, employee
 or agent of such Authorized User, or (b) any entity which controls, is controlled by,
 or is under common control with such Authorized User ("Related Entity"), or (c) any
 director, officer, partner, employee or agent of such Related Entity; <u>or</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) in the case
 of any Authorized User who is a natural person, (a) any entity for which such Authorized
 User is a director, officer, partner, employee or agent ("Employer Entity"),
 or (b) any director, officer, partner, employee or agent of such Employer Entity, or
 (c) any entity which controls, is controlled by, or is under common control with such
 Employer Entity ("Employer-Related Entity"), or (d) any director, officer,
 partner, employee or agent of such Employer-Related Entity;

<u>and</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Any loss
 resulting from physical damage to or destruction of any Covered Computer System, or any part
 thereof, or any data, data elements or media associated therewith; <u>and</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Any loss
 not directly and proximately caused by Computer Fraud (including, without limitation, disruption
 of business and extra expense); <u>and</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Payments
 made to any person(s) who has threatened to deny or has denied authorized access to
 a Covered Computer System or otherwise has threatened to disrupt the business of the Insured.

For purposes of this Insuring Agreement, "Single Loss," as defined in Section 1.EE of this Bond, shall also include all loss caused by Computer Fraud(s) committed by one person, or in which one person is implicated, whether or not that person is specifically identified. A series of losses involving unidentified individuals, but arising from the same method of operation, may be deemed by the Underwriter to involve the same individual and in that event shall be treated as a Single Loss.

It is further understood and agreed that nothing in this Rider shall affect the exclusion set forth in Section 2.O of this Bond.

Coverage under this Insuring Agreement shall terminate upon termination of this Bond. Coverage under this Insuring Agreement may also be terminated without terminating this Bond as an entirety:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by written
 notice from the Underwriter not less than sixty (60) days prior to the effective date of
 termination specified in such notice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) immediately
 by written notice from the Insured to the Underwriter.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0019.1-00 (07/18)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 7**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that the Deductible Amount for Insuring Agreement E, Forgery or Alteration, and Insuring Agreement F, Securities, shall not apply with respect to loss through Forgery of a signature on the following documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) letter requesting
 redemption of $100,000 or less payable by check to the Shareholder of Record and sent to
 an Authorized Address; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) letter requesting
 redemption of $100,000 or less by wire transfer to the Shareholder of Record of an Authorized
 Bank Account; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) written request
 to a trustee or custodian for a Designated Retirement Account ("DRA") which holds
 shares of an Insured Fund, where such request (a) purports to be from or at the instruction
 of the Owner of such DRA, and (b) directs such trustee or custodian to transfer $100,000
 or less from such DRA to a trustee or custodian for another DRA established for the benefit
 of such Owner;

<u>provided</u>, that the Limit of Liability for a Single Loss as described above shall be $100,000 and that the Insured shall bear 20% of each such loss. This Rider shall not apply in the case of any such Single Loss which exceeds $100,000; in such case the Deductible Amounts and Limits of Liability set forth in Item 3 of the Declarations shall control.

For purposes of this Rider:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) "Designated
 Retirement Account" means any retirement plan or account described or qualified under
 the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) "Owner"
 means the individual for whose benefit the DRA, or a subaccount thereof, is established.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0027.0-02 (07/18)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 8**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that this Bond does not cover any loss resulting from or in connection with the acceptance of any Third Party Check, unless

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) such Third
 Party Check is used to open or increase an account which is registered in the name of one
 or more of the payees on such Third Party Check, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) reasonable
 efforts are made by the Insured, or by the entity receiving Third Party Checks on behalf
 of the Insured, to verify all endorsements on all Third Party Checks made payable in amounts
 greater than $100,000 (provided, however, that the isolated failure to make such efforts
 in a particular instance will not preclude coverage, subject to the exclusions herein and
 in the Bond),

and then only to the extent such loss is otherwise covered under this Bond.

For purposes of this Rider, "Third Party Check" means a check made payable to one or more parties and offered as payment to one or more other parties.

It is further understood and agreed that notwithstanding anything to the contrary above or elsewhere in the Bond, this Bond does not cover any loss resulting from or in connection with the acceptance of a Third Party Check where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) any payee
 on such Third Party Check reasonably appears to be a corporation or other entity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) such Third
 Party Check is made payable in an amount greater than $100,000 and does not include the purported
 endorsements of all payees on such Third Party Check.

It is further understood and agreed that this Rider shall not apply with respect to any coverage that may be available under Insuring Agreement A, "Fidelity."

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0030.0-01 (01/02)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 9**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

**NEWLY CREATED INVESTMENT COMPANIES**

In consideration of the premium charged for this Bond, it is hereby understood and agreed that, notwithstanding anything to the contrary in General Agreement A of this Bond, Item 1 of the Declarations shall include any Newly Created Investment Company, provided that the Underwriter receives, at least annually, a report that lists (1) all Newly Created Investment Companies created over the preceding twelve months, and (2) the estimated net assets of each Newly Created Investment Company as of the date of the report.

For purposes of this Rider, "Newly Created Investment Company" shall mean any Investment Company or series thereof (notwithstanding that such Investment Company's or series' registration under the Investment Company Act of 1940 may not yet be effective), which Investment Company or series (1) was not yet created as of the inception of the Bond Period, and (2) has (or upon registration will have) directors who are identical to the directors of another Insured Fund (other than another Newly Created Investment Company).

It is further understood and agreed that the title in this Rider is included solely for convenience and shall not itself be deemed to be a term or condition of coverage, or a description or interpretation thereof.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0033.1-01 (07/21)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 10**

---

| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration for the premium charged for this Bond, it is hereby understood and agreed that, with respect to Insuring Agreement I only, the Deductible Amount set forth in Item 3 of the Declarations ("Phone/Electronic Deductible") shall not apply with respect to a Single Loss, otherwise covered by Insuring Agreement I, caused by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a Phone/Electronic Redemption requested
 to be paid or made payable by check to the Shareholder of Record and sent to an Authorized
 Address; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a Phone/Electronic Redemption requested
 to be paid or made payable by wire transfer to the Shareholder of Record at an Authorized
 Bank Account,

<u>provided</u>, that the Limit of Liability for a Single Loss as described in (a) or (b) above shall be the lesser of 80% of such loss or $80,000 and that the Insured shall bear the remainder of each such Loss. This Rider shall not apply if the application of the Phone/Electronic Deductible to the Single Loss would result in coverage of greater than $80,000; in such case the Phone/Electronic Deductible and Limit of Liability set forth in Item 3 of the Declarations shall control.

For purposes of this Rider, "Phone/Electronic Redemption" means any redemption of shares issued by an Investment Company, which redemption is requested (a) by voice over the telephone, (b) by Telefacsimile, or (c) by transmission over the Internet.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0039.0-02 (06/18)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 11**

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| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that notwithstanding anything to the contrary in this Bond (including Insuring Agreement I), this Bond does not cover loss caused by a Phone/Electronic Transaction requested:

&nbsp;&nbsp;&nbsp;&nbsp;• by
 use of an automated telephone tone or voice response system,

except insofar as such loss is covered under Insuring Agreement A "Fidelity" of this Bond.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0048.0-03 (01/13)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 12**

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| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

Most property and casualty insurers, including ICI Mutual Insurance Company, a Risk Retention Group ("ICI Mutual"), are subject to the requirements of the Terrorism Risk Insurance Act of 2002, as amended (the "Act"). The Act establishes a federal insurance backstop under which ICI Mutual and these other insurers may be partially reimbursed by the United States Government for future **"insured losses"** resulting from certified **"acts of terrorism."** (Each of these **bolded terms** is defined by the Act.) The Act also places certain disclosure and other obligations on ICI Mutual and these other insurers.

Pursuant to the Act, any future losses to ICI Mutual caused by certified **"acts of terrorism"** may be partially reimbursed by the United Sates government under a formula established by the Act. Under this formula, the United States government would generally reimburse ICI Mutual for the Federal Share of Compensation of ICI Mutual's **"insured losses"** in excess of ICI Mutual's **"insurer deductible"** until total **"insured losses"** of all participating insurers reach $100 billion (the "Cap on Annual Liability"). If total **"insured losses"** of all property and casualty insurers reach the Cap on Annual Liability in any one calendar year, the Act limits U.S. Government reimbursement and provides that the insurers will not be liable under their policies for their portions of such losses that exceed such amount. Amounts otherwise payable under this Bond may be reduced as a result.

This Bond has no express exclusion for **"acts of terrorism."** However, coverage under this Bond remains subject to all applicable terms, conditions, and limitations of the Bond (including exclusions) that are permissible under the Act.

The portion of the premium that is attributable to any coverage potentially available under the Bond for **"acts of terrorism"** is one percent (1%) and does not include any charges for the portion of loss that may be covered by the U.S. Government under the Act

As used herein, "Federal Share of Compensation" shall mean 80% beginning on January 1, 2020.

Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.

RN0053.1-01 (05/21)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 13**

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| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

**SOCIAL ENGINEERING FRAUD**

In consideration of the premium charged for this Bond, it is hereby understood and agreed that this Bond is amended by adding an additional Insuring Agreement M, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M. Social Engineering Fraud

Loss resulting directly from the Insured, in good faith, transferring, paying, or delivering money from its own account as a direct result of a Social Engineering Fraud;

PROVIDED, that the entity receiving such request generally maintains and follows during the Bond Period all Social Engineering Security Procedures.

The Limit of Liability for a Single Loss under this Insuring Agreement M shall be the lesser of (a) 50% of the amount by which such Single Loss exceeds the Deductible Amount or (b) $1,000,000 (One Million Dollars), and the Insured shall bear the remainder of any such Single Loss. The Deductible Amount for this Insuring Agreement M is $100,000 (One Hundred Thousand Dollars).

Notwithstanding any other provision of this Bond, the aggregate Limit of Liability under this Bond with respect to any and all loss or losses under this Insuring Agreement M shall be $1,000,000 (One Million Dollars) for the Bond Period, irrespective of the total amount of such loss or losses.

This Insuring Agreement M does not cover loss covered under any other Insuring Agreement of this Bond.

It is further understood and agreed that for purposes of this rider:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. "Communication"
 means an instruction that (a) directs an Employee to transfer, pay, or deliver money
 from the Insured's own account , (b) contains
 a material misrepresentation of fact, and (c) is relied upon by the Employee, believing
 it to be true.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. "Social
 Engineering Fraud" means the intentional misleading of an Employee through the use
 of a Communication, where such Communication:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is transmitted
 to the Employee in writing, by voice over the telephone, or by Electronic Transmission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is
 made by an individual who purports to be (i) an
 Employee who is duly authorized by the Insured to instruct another Employee to transfer,
 pay, or deliver money, or (ii) an officer or employee of a Vendor who is duly authorized
 by the Insured to instruct an Employee to transfer, pay, or deliver money; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) is
 unauthorized , dishonest or fraudulent and is made with
 the manifest intent to deceive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. "Social
 Engineering Security Procedures" means security procedures intended to prevent Social
 Engineering Fraud as set forth in the Application and/or as otherwise provided in writing
 to the Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. "Vendor"
 means any entity or individual that provides goods or
 services to the Insured under a pre-existing, written agreement.

Except as above stated, nothing herein shall be held to alter, waive, or extend any of the terms of this Bond.

RN0054.0-00 (07/18)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 14**

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| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **March 31, 2022** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration for the premium charged for this Bond, it is hereby understood and agreed that notwithstanding anything to the contrary in this Bond (including Insuring Agreement I), this Bond does not cover any loss resulting from any Online Redemption(s) or Online Purchase(s) involving an aggregate amount in excess of Five Hundred Thousand Dollars ($500,000) per shareholder account per day, unless before such redemption(s) or purchase(s), in a procedure initiated by the Insured or by the entity receiving the request for such Online Redemption(s) or Online Purchase(s):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Shareholder
 of Record verifies, by some method other than an Electronic Transmission effected over the
 Internet, that each such redemption or purchase has been authorized, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if such redemption
 or purchase is to be effected by wire to or from a particular bank account, a duly authorized
 employee of the bank verifies the account number to or from which funds are being transferred,
 and that the name on the account is the same as the name of the intended recipient of the
 proceeds.

It is further understood and agreed that, notwithstanding the Limit of Liability set forth herein or any other provision of this Bond, the Limit of Liability with respect to any Single Loss caused by an Online Transaction shall be Seventeen Million Fifty Thousand Dollars ($17,050,000) and the Deductible Amount applicable to any such Single Loss is One Hundred Thousand Dollars ($100,000).

It is further understood and agreed that, notwithstanding Section 9, Non-Reduction and Non-Accumulation of Liability and Total Liability, or any other provision of this Bond, the Aggregate Limit of Liability of the Underwriter under this Bond with respect to any and all loss or losses caused by Online Transactions shall be an aggregate of Seventeen Million Fifty Thousand Dollars ($17,050,000) for the Bond Period, irrespective of the total amount of such loss or losses.

For purposes of this Rider, the following terms shall have the following meanings:

"Online Purchase" means any purchase of shares issued by an Investment Company, which purchase is requested through an Electronic Transmission over the Internet.

"Online Redemption" means any redemption of shares issued by an Investment Company, which redemption is requested through an Electronic Transmission over the Internet.

"Online Transaction" means any Phone/Electronic Transaction requested through an Electronic Transmission over the Internet.

Except as above stated, nothing herein shall be held to alter, waive, or extend any of the terms of this Bond.

RN0038.0-02 (06/18)

**ICI MUTUAL INSURANCE COMPANY, a Risk Retention Group**

**INVESTMENT COMPANY BLANKET BOND**

**RIDER NO. 15**

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| | | |
|:---|:---|:---|
| **INSURED** |  | **BOND NUMBER** |
| **Calamos Advisors LLC** |  | **01580122B** |
| **EFFECTIVE DATE** | **BOND PERIOD** | **AUTHORIZED REPRESENTATIVE** |
| **See Below** | **March 31, 2022 to March 31, 2023** | **/S/ Maggie Sullivan** |

---

In consideration of the premium charged for this Bond, it is hereby understood and agreed that Item 1 of the Declarations, Name of Insured, shall include the following as of the effective date indicated:

---

| | |
|:---|:---|
| INSURED | &nbsp;&nbsp;EFFECTIVE<br> DATE |
| Calamos Antetokounmpo Asset Management LLC (dba, CGAM) | &nbsp;&nbsp;January 23, 2023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Antetokounmpo Global Sustainable Equities ETF, a series of: | &nbsp;&nbsp;January 23, 2023 |
| Calamos ETF Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Calamos Antetokounmpo Sustainable Equities Fund, a series of: | &nbsp;&nbsp;January 24, 2023 |
| Calamos Antetokounmpo Sustainable Equities Trust |  |

---

Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, conditions, provisions, agreements or limitations of this policy other than as above stated.

RN0001.1-00 (01/02)

**CALAMOS ANTETOKOUNMPO SUSTAINABLE EQUITIES FUND, a series of Calamos Antetokounmpo Sustainable Equities Trust (the "Trust")**

I, J. Christopher Jackson, Secretary of the Trust, having its principal offices and place of business in Naperville, Illinois, hereby certify that the foregoing is a true and correct copy of the resolutions adopted at the Board of Trustees meeting of the Trust held on October 31, 2022, and that said resolutions have not been amended or rescinded:

<u>Fidelity Bond and Allocation Agreement</u>

RESOLVED, that $400,000 is determined to be a reasonable amount of fidelity bond coverage to be maintained by the Trust in accordance with Section 17(g) of, and Rule 17g-1 under, the 1940 Act; and

FURTHER RESOLVED, that the proposed amended Fidelity Bond Allocation Agreement, in the form presented to this meeting (the "Agreement") is approved, and any officer of each of the Trust is authorized to execute and deliver the Agreement on behalf of the Trust in such form, with such changes therein as may be approved by such officer as being deemed necessary or advisable upon advice of counsel to the Trust, such approval to be evidenced by the officer's execution thereof; and the Secretary shall file with the Trust's records a copy of the form of Agreement presented to this meeting; and

FURTHER RESOLVED, that the proposed portion of the premium for the Bond allocated to the Trust, based on each of the insureds' proportionate share of the premiums that would have been paid if the coverage of the Bond were purchased separately by the respective insureds, is fair and reasonable, and is approved; and

FURTHER RESOLVED, that the secretary of the Trust is designated as the person to make the filings and to give the notices required by Rule 17g-1(g) under the 1940 Act; and

FURTHER RESOLVED, that the officers of the Trust are authorized to take any and all action necessary under the Directors and Officers/Errors and Omissions Liability Insurance Policy (the "D&O/E&O Policy") to include the Trust under the existing coverage; and

FURTHER RESOLVED, that the proposed portion of the premium for the D&O/E&O Policy allocable to the Trust under the Liability Insurance Allocation Agreement, in the form presented to this meeting, among the Trusts, the Adviser, the Sub-Adviser and the Adviser's and Sub-Adviser's affiliates, based on each of the named insureds' proportionate share of the premiums that would have been paid if the coverage of the D&O/E&O Policy were purchased separately by the Trust and the other insureds, is fair and reasonable to the Trust and is approved;

FURTHER RESOLVED, that the officers of the Trust are authorized to take any and all action necessary under the Independent Directors Safety Net Liability Policy to include the Trust under the existing coverage; and

FURTHER RESOLVED, that the officers of the Trust are authorized to take any and all action necessary under the investment company blanket bond to include the Trust under the existing coverage.

Dated:<br> February 8, 2023

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| | |
|:---|:---|
| Secretary: | /s/ J. Christopher Jackson |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J. Christopher Jackson |

---

February 8, 2023

Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

**FIDELITY BOND FILING**

Calamos Antetokounmpo Sustainable Equities Fund, a series of Calamos Antetokounmpo Sustainable Equities Trust – 1940 Act File No. <u>811-23822</u>

The premium on the bond has been paid for the period ending March 31, 2023. In addition, please note that the minimum amount of bond that each trust would have been required to provide, as set forth in Rule 17g-1(d), under a single insured bond is as follows:

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| | |
|:---|:---|
| Calamos Antetokounmpo Sustainable Equities Trust | $400000 |

---

---

| | |
|:---|:---|
| By: | /s/ J. Christopher Jackson |
| J. Christopher Jackson, Secretary | J. Christopher Jackson, Secretary |

---

**FIDELITY BOND INSURANCE ALLOCATION AGREEMENT**

This Agreement is dated as of December 16, 2022 and is entered into by and among:

Calamos Investment Trust

Calamos Advisors Trust

Calamos Antetokounmpo Sustainable Equities Trust

Calamos ETF Trust

Calamos Convertible Opportunities and Income Fund

Calamos Convertible and High Income Fund

Calamos Global Total Return Fund

Calamos Strategic Total Return Fund

Calamos Global Dynamic Income Fund

Calamos Dynamic Convertible and Income Fund

Calamos Long/Short Equity & Dynamic Income Trust

Calamos Advisors LLC

Calamos Antetokounmpo Asset Management LLC

Calamos Asset Management, Inc.

Calamos Financial Services LLC

Calamos Investments LLC

Calamos Profit Sharing 401(k) Plan

Calamos Wealth Management LLC

Calamos International Holdings LLC

Calamos International Holdings II LLC

Calamos Family Partners, Inc.

Calamos Partners LLC

Calamos Opis LLC

Primacy Business Center LLC

Calamos Advisors LLC Master Group Trust

Calamos Global Opportunities Fund LP

Calamos Ares Quant Fund I, LP

(each of such parties being referred to individually as a "**Party**" and collectively as the "**Parties**").

In order to obtain joint-insureds fidelity bond insurance under an insurance policy (the "**Policy**") on favorable terms, and in consideration of the mutual agreements set forth below, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **The Policy.** The Parties agree to secure and maintain a Policy, which will insure each Party and, if such Party is an investment company (an "investment company") registered under the Investment Company Act of 1940, as amended (the "Investment Company Act"), its respective portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Primary Coverage.** Each Party shall have "Primary Coverage" (i.e. minimum insured coverage) under the Policy, under which they are insured, as set forth in the Schedule to this Agreement, which Schedule may be amended from time to time by the Parties. Each Party who is an investment company shall have Primary Coverage in an amount at least equal to the amount required by applicable laws and regulations. This Agreement applies to the initial Policy and any future insurance policy insuring the same Insureds, all as modified from time to time. Each Party shall promptly take action to increase its Primary Coverage amount, which shall therefore increase the total amount (i.e. limit of liability) of the Policy, whenever required to comply with applicable federal statutes and regulations, including but not limited to Rule 17g-1 under the Investment Company Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **Definitions.** As used in this Agreement, the following terms have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Agent**" means Calamos Advisors or its successor, acting as agent for the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Commission**" means the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Insured**" means, a Party and, for investment companies, any portfolio of any Party and "Insureds" means all Parties and all portfolios of the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Insured Loss**" means a loss (including all related expenses) of an Insured that is covered under the Policy (including any endorsement thereof) or that would be so covered but for the exhaustion of the applicable limit of liability and any applicable deductible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Policy Period**" means the period from the initial effective date of the Policy through the next succeeding anniversary date or the period from any anniversary date subsequent to the initial effective date through the next succeeding anniversary date (or any modification of such period as may be agreed to by the Parties and the insurer).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Allocation of Premiums.** Each Party shall pay that portion of the Policy premium for any Policy Period equal to (i) the underwriter's estimate of relative cost to that Insured of a single-insured policy providing coverage similar to such policy but in an amount equal to the Primary Coverage allocated to that Insured under this Agreement, as such amount may be amended from time to time, in relation to (ii) the aggregate of the cost to all Insureds of such single-insured policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **Allocation of Coverages.** The Policy is a "claims made" policy. Proceeds paid under the Policy shall be allocated among the Insureds as follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Coverage Sufficient for All Insured Losses.** If the aggregate Insured Losses of all Insureds relating to claims with respect to a particular Policy Period are covered by proceeds of the Policy for that Policy Period, such proceeds shall be allocated among the Insureds according to their respective Insured Losses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Allocation of Insufficient Coverage.** If the aggregate Insured Losses of all Insureds relating to claims with respect to a particular Policy Period exceed the aggregate proceeds of the Policy for Insured Losses for that Policy Period, such proceeds shall be first allocated among the Insureds who sustained such losses in proportion to their respective Primary Coverages; and if, after such initial allocation, there are remaining proceeds for Insured Losses relating to that Policy Period, such remaining proceeds shall be further allocated among such Insureds whose Insured Losses have not yet been paid in proportion to such respective Primary Coverages of those Insureds (repeating this further allocation procedure until all of such proceeds have been allocated).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Reallocation.** If all Insured Losses relating to a Policy Period under the Policy are not paid at the same time, the Insureds who claim such Insured Losses for that Policy Period shall make such provisions as they deem suitable to the particular circumstances (taking into account the size of any payments received, the size, nature and expected result of any remaining claims, and all other relevant factors) to permit a later reallocation of amounts first paid in accordance with this section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **Notices.** Each Insured agrees promptly to give to the Insurer all notices required under the Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **Agent.** The Agent is hereby appointed as the agent for the Insureds for the purposes of seeking, negotiating and obtaining the Policy and of making, adjusting, receiving and enforcing payment of all claims under the Policy and otherwise dealing with the insurer with respect to the Policy. All expenses incurred by the Agent in its capacity as agent for claims shall be shared by the Parties and their respective Insureds on whose behalf the expenses were incurred in proportion to their Insured Losses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **Notification of Agent.** Each Party shall promptly notify the Agent in writing of any circumstance that may give rise to a claim by such Party or its Insureds under the Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **Filing with the Commission.** Each Party, as required by Rule 17g-1 under Section 17(g) of the Investment Company Act of 1940, shall file a copy of this Agreement and any amendment hereto with the Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **Modification and Termination.** This Agreement may be modified or amended from time to time by mutual written agreement among the Parties. It shall terminate with respect to any Insured as of the date such Insured ceases to be an insured under the Policy; provided that such termination shall not affect that Insured's rights and obligations hereunder with respect to any claims or Insured Losses relating to a period when that Insured was insured under the Policy. This Agreement may be terminated by either Party by written notice to the other Party given not less than 60 days prior to the date specified for termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **Prior Agreements.** This Agreement shall supersede any prior agreement among the Parties relating to the allocation of premiums and coverage under any joint-insured policy bond providing fidelity coverage, and any such agreement is hereby terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **Further Assurances.** Each Party agrees to perform such further acts and execute such further documents as are necessary to effect the purposes hereof.

[Signature Page follows]

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed.

---

| | | | |
|:---|:---|:---|:---|
| **CALAMOS INVESTMENT TRUST** | **CALAMOS INVESTMENT TRUST** | **CALAMOS ADVISORS TRUST** | **CALAMOS ADVISORS TRUST** |
| By | /s/ J. Christopher Jackson | By | /s/ J. Christopher Jackson |
| Name: | J. Christopher Jackson | Name: | J. Christopher Jackson |
| Title: | Vice President and Secretary | Title: | Vice President and Secretary |
| **CALAMOS ANTETOKOUNMPO** **SUSTAINABLE EQUITIES TRUST** | **CALAMOS ANTETOKOUNMPO** **SUSTAINABLE EQUITIES TRUST** | **CALAMOS ETF TRUST** | **CALAMOS ETF TRUST** |
| By | /s/ J. Christopher Jackson | By | /s/ J. Christopher Jackson |
| Name: | J. Christopher Jackson | Name: | J. Christopher Jackson |
| Title: | Vice President and Secretary | Title: | Vice President and Secretary |
| **CALAMOS CONVERTIBLE** **OPPORTUNITIES AND INCOME FUND** | **CALAMOS CONVERTIBLE** **OPPORTUNITIES AND INCOME FUND** | **CALAMOS CONVERTIBLE AND HIGH INCOME FUND** | **CALAMOS CONVERTIBLE AND HIGH INCOME FUND** |
| By | /s/ J. Christopher Jackson | By | /s/ J. Christopher Jackson |
| Name: | J. Christopher Jackson | Name: | J. Christopher Jackson |
| Title: | Vice President and Secretary | Title: | Vice President and Secretary |
| **CALAMOS STRATEGIC TOTAL** **RETURN FUND** | **CALAMOS STRATEGIC TOTAL** **RETURN FUND** | **CALAMOS GLOBAL TOTAL RETURN FUND** | **CALAMOS GLOBAL TOTAL RETURN FUND** |
| By | /s/ J. Christopher Jackson | By | /s/ J. Christopher Jackson |
| Name: | J. Christopher Jackson | Name: | J. Christopher Jackson |
| Title: | Vice President and Secretary | Title: | Vice President and Secretary |
| **CALAMOS GLOBAL DYNAMIC** **INCOME FUND** | **CALAMOS GLOBAL DYNAMIC** **INCOME FUND** | **CALAMOS DYNAMIC CONVERTIBLE AND INCOME FUND** | **CALAMOS DYNAMIC CONVERTIBLE AND INCOME FUND** |
| By | /s/ J. Christopher Jackson | By | /s/ J. Christopher Jackson |
| Name: | J. Christopher Jackson | Name: | J. Christopher Jackson |
| Title: | Vice President and Secretary | Title: | Vice President and Secretary |
| **CALAMOS LONG/SHORT EQUITY &** **DYNAMIC INCOME TRUST** | **CALAMOS LONG/SHORT EQUITY &** **DYNAMIC INCOME TRUST** | **CALAMOS ANTETOKOUNMPO ASSET MANAGEMENT LLC** | **CALAMOS ANTETOKOUNMPO ASSET MANAGEMENT LLC** |
| By | /s/ J. Christopher Jackson | By | /s/ Thomas E. Herman |
| Name: | J. Christopher Jackson | Name: | Thomas E. Herman |
| Title: | Vice President and Secretary | Title: | Chief Financial Officer and Treasurer |

---

[Signature Page continues on following page]

---

| | | | |
|:---|:---|:---|:---|
| **CALAMOS ADVISORS LLC** | **CALAMOS ADVISORS LLC** | **CALAMOS ASSET MANAGEMENT, INC.** | **CALAMOS ASSET MANAGEMENT, INC.** |
| By | /s/ Thomas E. Herman | By | /s/ Thomas E. Herman |
| Name: | Thomas E. Herman | Name: | Thomas E. Herman |
| Title: | EVP, Chief Financial Officer | Title: | EVP, Chief Financial Officer |
| **CALAMOS FINANCIAL SERVICES LLC** | **CALAMOS FINANCIAL SERVICES LLC** | **CALAMOS INVESTMENTS LLC** | **CALAMOS INVESTMENTS LLC** |
| By | /s/ Robert F. Behan | By | /s/ Thomas E. Herman |
| Name: | Robert F. Behan | Name: | Thomas E. Herman |
| Title: | Principal Executive Officer | Title: | EVP, Chief Financial Officer |
| **CALAMOS PROFIT SHARING 401(K)** **PLAN** | **CALAMOS PROFIT SHARING 401(K)** **PLAN** | **CALAMOS WEALTH MANAGEMENT** **LLC** | **CALAMOS WEALTH MANAGEMENT** **LLC** |
| By | /s/ Thomas E. Herman | By | /s/ Thomas E. Herman |
| Name: | Thomas E. Herman | Name: | Thomas E. Herman |
| Title: | EVP, Chief Financial Officer | Title: | EVP, Chief Financial Officer |
| **CALAMOS INTERNATIONAL** **HOLDINGS LLC** | **CALAMOS INTERNATIONAL** **HOLDINGS LLC** | **CALAMOS INTERNATIONAL** **HOLDINGS II LLC** | **CALAMOS INTERNATIONAL** **HOLDINGS II LLC** |
| By | /s/ Thomas E. Herman | By | /s/ Thomas E. Herman |
| Name: | Thomas E. Herman | Name: | Thomas E. Herman |
| Title: | EVP, Chief Financial Officer | Title: | EVP, Chief Financial Officer |
| **CALAMOS OPIS LLC** | **CALAMOS OPIS LLC** | **CALAMOS PARTNERS LLC** | **CALAMOS PARTNERS LLC** |
| By | /s/ Thomas E. Herman | By | /s/ James R. Adams |
| Name: | Thomas E. Herman | Name: | James R. Adams |
| Title: | EVP, Chief Financial Officer | Title: | Vice President and Treasurer |
| **CALAMOS FAMILY PARTNERS, INC.** | **CALAMOS FAMILY PARTNERS, INC.** | **PRIMACY BUSINESS CENTER LLC** | **PRIMACY BUSINESS CENTER LLC** |
| By | /s/ James R. Adams | By | /s/ James R. Adams |
| Name: | James R. Adams | Name: | James R. Adams |
| Title: | SVP, Chief Financial Officer and Treasurer | Title: | SVP, Chief Financial Officer and Treasurer |

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[Signature Page continues on following page]

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| | | | |
|:---|:---|:---|:---|
| **CALAMOS ADVISORS LLC, signing on behalf of CALAMOS ADVISORS LLC MASTER GROUP TRUST, as Investment Adviser** | **CALAMOS ADVISORS LLC, signing on behalf of CALAMOS ADVISORS LLC MASTER GROUP TRUST, as Investment Adviser** | **CALAMOS ADVISORS LLC, signing on behalf of CALAMOS ARES QUANT FUND I, LP, as General Partner** | **CALAMOS ADVISORS LLC, signing on behalf of CALAMOS ARES QUANT FUND I, LP, as General Partner** |
| By | /s/ Thomas E. Herman | By | /s/ Thomas E. Herman |
| Name: | Thomas E. Herman | Name: | Thomas E. Herman |
| Title: | EVP, Chief Financial Officer | Title: | EVP, Chief Financial Officer |
| **CALAMOS ADVISORS LLC, signing on behalf of CALAMOS GLOBAL OPPORTUNITIES FUND LP, as General Partner** | **CALAMOS ADVISORS LLC, signing on behalf of CALAMOS GLOBAL OPPORTUNITIES FUND LP, as General Partner** | | |
| By | /s/ Thomas E. Herman | | |
| Name: | Thomas E. Herman | | |
| Title: | EVP, Chief Financial Officer | | |

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**SCHEDULE TO FIDELITY BOND INSURANCE ALLOCATION AGREEMENT**

**DATED AS OF December 16, 2022**

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| | |
|:---|:---|
| <br>**Party** | **Primary**<br>**Coverage-** |
| Calamos Investment Trust | $2500000 |
| Calamos Advisors Trust | 350000 |
| Calamos Antetokounmpo Sustainable Equities Trust | 400000 |
| Calamos ETF Trust | 400000 |
| Calamos Convertible Opportunities and Income Fund | 1700000 |
| Calamos Convertible and High Income Fund | 1700000 |
| Calamos Strategic Total Return Fund | 2500000 |
| Calamos Global Total Return Fund | 750000 |
| Calamos Global Dynamic Income Fund | 1250000 |
| Calamos Dynamic Convertible and Income Fund | 1500000 |
| Calamos Long/Short Equity & Dynamic Income Trust | 1000000 |
| Calamos Advisors LLC | 800000 |
| Calamos Antetokounmpo Asset Management LLC | 500000 |
| Calamos Asset Management, Inc. | 50000 |
| Calamos Financial Services LLC | 600000 |
| Calamos Investments LLC | 150000 |
| Calamos Profit Sharing 401(k) Plan | 150000 |
| Calamos Wealth Management LLC | 500000 |
| Calamos International Holdings LLC | 50000 |
| Calamos International Holdings II LLC | 50000 |
| Calamos Partners LLC | 100000 |
| Calamos Family Partners, Inc. | 100000 |
| Calamos Opis LLC | 50000 |
| Primacy Business Center LLC | 50000 |
| Calamos Advisors LLC Master Group Trust | 100000 |
| Calamos Global Opportunities Fund LP | 100000 |
| Calamos Ares Quant Fund I, LP | 50000 |
| &nbsp;&nbsp;&nbsp;**Total** | $**17450000** |

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