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Mutual Funds

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Alternative Funds

Fund Name Symbol Morningstar Category
Data - As of 3/30/23
Inception Date Fact Sheet
NAV $ Change % Change YTD
Market Neutral Income
Market Neutral Income Class A CVSIX Relative Value Arbitrage $14.30 $0.02 0.14% 2.74% 9/4/90 Download Fact Sheet
Market Neutral Income Class C CVSCX Relative Value Arbitrage $14.38 $0.02 0.14% 2.57% 2/16/00 Download Fact Sheet
Market Neutral Income Class I CMNIX Relative Value Arbitrage $14.13 $0.03 0.21% 2.84% 5/10/00 Download Fact Sheet
Market Neutral Income Class R6 CVSOX Relative Value Arbitrage $14.13 $0.02 0.14% 2.78% 6/23/20 Download Fact Sheet
Hedged Equity
Hedged Equity Class A CAHEX Options Trading $13.59 $0.04 0.30% 3.50% 12/31/14 Download Fact Sheet
Hedged Equity Class C CCHEX Options Trading $13.26 $0.03 0.23% 3.27% 12/31/14 Download Fact Sheet
Hedged Equity Class I CIHEX Options Trading $13.61 $0.04 0.29% 3.61% 12/31/14 Download Fact Sheet
Phineus Long/Short
Phineus Long/Short Class A CPLSX Long-Short Equity $14.96 $0.06 0.40% 1.08% 5/1/02 Download Fact Sheet
Phineus Long/Short Class C CPCLX Long-Short Equity $14.20 $0.05 0.35% 0.92% 5/1/02 Download Fact Sheet
Phineus Long/Short Class I CPLIX Long-Short Equity $15.18 $0.06 0.40% 1.20% 5/1/02 Download Fact Sheet

Convertible Funds

Fund Name Symbol Morningstar Category
Data - As of 3/30/23
Inception Date Fact Sheet
NAV $ Change % Change YTD
Convertible
Convertible Class A CCVIX Convertibles $18.76 $0.10 0.54% 2.17% 6/21/85 Download Fact Sheet
Convertible Class C CCVCX Convertibles $18.21 $0.10 0.55% 2.02% 7/5/96 Download Fact Sheet
Convertible Class I CICVX Convertibles $16.05 $0.08 0.50% 2.23% 6/25/97 Download Fact Sheet
Global Convertible
Global Convertible Class A CAGCX Convertibles $10.16 $0.07 0.69% 4.42% 12/31/14 Download Fact Sheet
Global Convertible Class C CCGCX Convertibles $9.76 $0.07 0.72% 4.27% 12/31/14 Download Fact Sheet
Global Convertible Class I CXGCX Convertibles $10.19 $0.07 0.69% 4.51% 12/31/14 Download Fact Sheet

US Equity Funds

Fund Name Symbol Morningstar Category
Data - As of 3/30/23
Inception Date Fact Sheet
NAV $ Change % Change YTD
Timpani Small Cap Growth
Timpani Small Cap Growth Class A CTASX Small Growth $24.92 $0.08 0.32% 3.79% 1/6/14 Download Fact Sheet
Timpani Small Cap Growth Class C CTCSX Small Growth $25.34 $0.08 0.32% 3.56% 6/25/21 Download Fact Sheet
Timpani Small Cap Growth Class I CTSIX Small Growth $25.79 $0.08 0.31% 3.82% 3/23/11 Download Fact Sheet
Timpani Small Cap Growth Class R6 CTSOX Small Growth $25.88 $0.08 0.31% 3.85% 6/3/19 Download Fact Sheet
Timpani SMID Growth
Timpani SMID Growth Class A CTAGX Mid-Cap Growth $9.78 $0.04 0.41% 3.49% 7/31/19 Download Fact Sheet
Timpani SMID Growth Class I CTIGX Mid-Cap Growth $9.89 $0.05 0.51% 3.67% 7/31/19 Download Fact Sheet
Timpani SMID Growth Class R6 CTOGX Mid-Cap Growth $9.89 $0.04 0.41% 3.56% 7/31/19 Download Fact Sheet
Growth
Growth Class A CVGRX Large Growth $29.99 $0.22 0.74% 10.58% 9/4/90 Download Fact Sheet
Growth Class C CVGCX Large Growth $11.68 $0.09 0.78% 10.40% 9/3/96 Download Fact Sheet
Growth Class I CGRIX Large Growth $45.67 $0.34 0.75% 10.66% 9/18/97 Download Fact Sheet
Growth and Income
Growth and Income Class A CVTRX Allocation--70% to 85% Equity $38.35 $0.20 0.52% 4.75% 9/22/88 Download Fact Sheet
Growth and Income Class C CVTCX Allocation--70% to 85% Equity $38.55 $0.20 0.52% 4.56% 8/5/96 Download Fact Sheet
Growth and Income Class I CGIIX Allocation--70% to 85% Equity $36.46 $0.19 0.52% 4.83% 9/18/97 Download Fact Sheet
Growth and Income Class R6 CGIOX Allocation--70% to 85% Equity $36.48 $0.19 0.52% 4.86% 6/23/20 Download Fact Sheet
Dividend Growth
Dividend Growth Class A CADVX Large Blend $13.97 $0.08 0.58% 5.04% 8/5/13 Download Fact Sheet
Dividend Growth Class C CCDVX Large Blend $13.28 $0.07 0.53% 4.81% 8/5/13 Download Fact Sheet
Dividend Growth Class I CIDVX Large Blend $14.00 $0.07 0.50% 5.03% 8/5/13 Download Fact Sheet
Select
Select Class A CVAAX Large Blend $15.89 $0.10 0.63% 4.82% 1/2/02 Download Fact Sheet
Select Class C CVACX Large Blend $13.19 $0.08 0.61% 4.52% 1/2/02 Download Fact Sheet
Select Class I CVAIX Large Blend $16.51 $0.10 0.61% 4.83% 3/1/02 Download Fact Sheet

Global Equity Funds

Fund Name Symbol Morningstar Category
Data - As of 3/30/23
Inception Date Fact Sheet
NAV $ Change % Change YTD
International Growth
International Growth Class A CIGRX Foreign Large Growth $17.88 $0.19 1.07% 9.02% 3/16/05 Download Fact Sheet
International Growth Class C CIGCX Foreign Large Growth $14.86 $0.16 1.09% 8.78% 3/16/05 Download Fact Sheet
International Growth Class I CIGIX Foreign Large Growth $18.68 $0.20 1.08% 9.05% 3/16/05 Download Fact Sheet
International Growth Class R6 CIGOX Foreign Large Growth $18.90 $0.21 1.12% 9.12% 9/17/18 Download Fact Sheet
Evolving World Growth
Evolving World Growth Class A CNWGX Diversified Emerging Mkts $16.40 $0.16 0.99% 4.73% 8/15/08 Download Fact Sheet
Evolving World Growth Class C CNWDX Diversified Emerging Mkts $15.14 $0.14 0.93% 4.49% 8/15/08 Download Fact Sheet
Evolving World Growth Class I CNWIX Diversified Emerging Mkts $16.55 $0.16 0.98% 4.75% 8/15/08 Download Fact Sheet
Global Equity
Global Equity Class A CAGEX Global Large-Stock Growth $11.95 $0.10 0.84% 7.46% 3/1/07 Download Fact Sheet
Global Equity Class C CCGEX Global Large-Stock Growth $9.58 $0.08 0.84% 7.28% 3/1/07 Download Fact Sheet
Global Equity Class I CIGEX Global Large-Stock Growth $12.59 $0.11 0.88% 7.51% 3/1/07 Download Fact Sheet
Global Equity Class R6 CGEOX Global Large-Stock Growth $12.60 $0.11 0.88% 7.60% 6/23/20 Download Fact Sheet
Global Opportunities
Global Opportunities Class A CVLOX Global Allocation $9.85 $0.07 0.72% 5.46% 9/9/96 Download Fact Sheet
Global Opportunities Class C CVLCX Global Allocation $8.29 $0.06 0.73% 5.20% 9/24/96 Download Fact Sheet
Global Opportunities Class I CGCIX Global Allocation $10.27 $0.08 0.79% 5.55% 9/18/97 Download Fact Sheet
International Small Cap Growth
International Small Cap Growth Class A CAISX Foreign Small/Mid Growth $8.10 $0.10 1.25% 2.14% 3/31/22 Download Fact Sheet
International Small Cap Growth Class C CCISX Foreign Small/Mid Growth $8.04 $0.10 1.26% 1.90% 3/31/22 Download Fact Sheet
International Small Cap Growth Class I CSGIX Foreign Small/Mid Growth $8.11 $0.10 1.25% 2.27% 3/31/22 Download Fact Sheet
International Small Cap Growth Class R6 CISOX Foreign Small/Mid Growth $8.11 $0.10 1.25% 2.27% 3/31/22 Download Fact Sheet

Sustainable Equities Fund

Fund Name Symbol Morningstar Category
Data - As of 3/30/23
Inception Date Fact Sheet
NAV $ Change % Change YTD
Calamos Antetokounmpo Sustainable Equities Fund
Calamos Antetokounmpo Sustainable Equities Fund Class A SROAX Large Blend $9.82 $0.07 0.72% N/A 2/3/23 Download Fact Sheet
Calamos Antetokounmpo Sustainable Equities Fund Class C SROCX Large Blend $9.80 $0.06 0.62% N/A 2/3/23 Download Fact Sheet
Calamos Antetokounmpo Sustainable Equities Fund Class I SROIX Large Blend $9.82 $0.06 0.61% N/A 2/3/23 Download Fact Sheet
Calamos Antetokounmpo Sustainable Equities Fund Class R6 SRORX Large Blend $9.82 $0.06 0.61% N/A 2/3/23 Download Fact Sheet

Fixed Income Funds

Fund Name Symbol Morningstar Category
Data - As of 3/30/23
Inception Date Fact Sheet
NAV $ Change % Change YTD
Total Return Bond
Total Return Bond Class A CTRAX Intermediate Core-Plus Bond $8.98 $0.02 0.22% 2.28% 6/27/07 Download Fact Sheet
Total Return Bond Class C CTRCX Intermediate Core-Plus Bond $8.97 $0.02 0.22% 1.98% 6/27/07 Download Fact Sheet
Total Return Bond Class I CTRIX Intermediate Core-Plus Bond $8.98 $0.02 0.22% 2.23% 6/27/07 Download Fact Sheet
High Income Opportunities
High Income Opportunities Class A CHYDX High Yield Bond $7.36 $0.02 0.27% 1.81% 8/2/99 Download Fact Sheet
High Income Opportunities Class C CCHYX High Yield Bond $7.87 $0.03 0.38% 1.70% 12/21/00 Download Fact Sheet
High Income Opportunities Class I CIHYX High Yield Bond $7.36 $0.02 0.27% 1.85% 3/1/02 Download Fact Sheet
Short-Term Bond
Short-Term Bond Class A CSTBX Short-Term Bond $9.39 $0.01 0.11% 1.31% 9/19/18 Download Fact Sheet
Short-Term Bond Class I CSTIX Short-Term Bond $9.38 $0.01 0.11% 1.37% 9/19/18 Download Fact Sheet

Alternative Funds

Fund Name Symbol
Returns* - As of 2/28/23
1 Year 3 Year 5 Year 10 Year Since Incep. Gross Expense Ratio
Market Neutral Income
Market Neutral Income Class A CVSIX -1.02% 2.71% 2.72% 3.16% 5.76% 1.18%
Market Neutral Income Class C CVSCX -1.76% 1.97% 1.97% 2.40% 3.31% 1.93%
Market Neutral Income Class I CMNIX -0.81% 2.96% 2.97% 3.42% 4.25% 0.93%
Market Neutral Income Class R6 CVSOX -0.73% N/A N/A N/A 2.60% 0.88%
Hedged Equity
Hedged Equity Class A CAHEX -5.48% 5.08% 4.26% N/A 4.80% 1.17%
Hedged Equity Class C CCHEX -6.16% 4.34% 3.55% N/A 4.05% 1.92%
Hedged Equity Class I CIHEX -5.21% 5.36% 4.55% N/A 5.08% 0.92%
Phineus Long/Short
Phineus Long/Short Class A CPLSX -4.01% 11.09% 5.04% 6.77% 9.82% 2.39%
Phineus Long/Short Class C CPCLX -4.71% 10.28% 4.26% 5.98% 9.01% 3.13%
Phineus Long/Short Class I CPLIX -3.75% 11.38% 5.30% 7.05% 10.10% 2.15%

Convertible Funds

Fund Name Symbol
Returns* - As of 2/28/23
1 Year 3 Year 5 Year 10 Year Since Incep. Gross Expense Ratio
Convertible
Convertible Class A CCVIX -12.25% 8.53% 8.12% 7.73% 8.89% 1.10%
Convertible Class C CCVCX -12.94% 7.72% 7.32% 6.93% 7.34% 1.85%
Convertible Class I CICVX -12.03% 8.81% 8.41% 8.00% 7.79% 0.85%
Global Convertible
Global Convertible Class A CAGCX -12.92% 3.30% 3.96% N/A 4.59% 1.28%
Global Convertible Class C CCGCX -13.60% 2.54% 3.19% N/A 3.82% 2.03%
Global Convertible Class I CXGCX -12.74% 3.56% 4.22% N/A 4.86% 1.03%

US Equity Funds

Fund Name Symbol
Returns* - As of 2/28/23
1 Year 3 Year 5 Year 10 Year Since Incep. Gross Expense Ratio
Timpani Small Cap Growth
Timpani Small Cap Growth Class A CTASX -21.27% 4.97% 5.82% N/A 6.46% 1.37%
Timpani Small Cap Growth Class C CTCSX -21.85% N/A N/A N/A -26.19% 2.12%
Timpani Small Cap Growth Class I CTSIX -21.03% 5.24% 6.14% 10.33% 9.80% 1.12%
Timpani Small Cap Growth Class R6 CTSOX -20.95% 5.35% N/A N/A 5.39% 1.00%
Timpani SMID Growth
Timpani SMID Growth Class A CTAGX -19.22% 4.90% N/A N/A 2.55% 1.93%
Timpani SMID Growth Class I CTIGX -18.99% 5.16% N/A N/A 2.82% 1.65%
Timpani SMID Growth Class R6 CTOGX -18.99% 5.16% N/A N/A 2.82% 1.63%
Growth
Growth Class A CVGRX -18.34% 6.87% 6.47% 9.75% 12.00% 1.30%
Growth Class C CVGCX -19.02% 6.08% 5.67% 8.93% 10.55% 2.05%
Growth Class I CGRIX -18.14% 7.15% 6.73% 10.02% 10.30% 1.05%
Growth and Income
Growth and Income Class A CVTRX -9.47% 10.07% 7.94% 8.82% 10.63% 1.05%
Growth and Income Class C CVTCX -10.13% 9.26% 7.14% 8.00% 9.14% 1.80%
Growth and Income Class I CGIIX -9.22% 10.35% 8.21% 9.09% 9.33% 0.80%
Growth and Income Class R6 CGIOX -9.17% N/A N/A N/A 8.18% 0.73%
Dividend Growth
Dividend Growth Class A CADVX -8.95% 11.56% 8.94% N/A 8.81% 2.03%
Dividend Growth Class C CCDVX -9.65% 10.74% 8.14% N/A 8.00% 2.78%
Dividend Growth Class I CIDVX -8.76% 11.84% 9.21% N/A 9.08% 1.78%
Select
Select Class A CVAAX -9.46% 10.19% 7.15% 8.45% 6.07% 1.57%
Select Class C CVACX -10.16% 9.39% 6.37% 7.65% 5.28% 2.33%
Select Class I CVAIX -9.24% 10.46% 7.43% 8.73% 6.47% 1.32%

Global Equity Funds

Fund Name Symbol
Returns* - As of 2/28/23
1 Year 3 Year 5 Year 10 Year Since Incep. Gross Expense Ratio
International Growth
International Growth Class A CIGRX -16.65% 5.91% 2.58% 4.83% 6.40% 1.64%
International Growth Class C CIGCX -17.27% 5.13% 1.81% 4.05% 5.60% 2.39%
International Growth Class I CIGIX -16.44% 6.19% 2.83% 5.09% 6.66% 1.39%
International Growth Class R6 CIGOX -16.32% 6.30% N/A N/A 4.75% 1.28%
Evolving World Growth
Evolving World Growth Class A CNWGX -19.54% 4.50% 0.91% 2.57% 3.86% 1.63%
Evolving World Growth Class C CNWDX -20.15% 3.71% 0.16% 1.80% 3.08% 2.39%
Evolving World Growth Class I CNWIX -19.34% 4.74% 1.16% 2.82% 4.12% 1.38%
Global Equity
Global Equity Class A CAGEX -14.58% 9.90% 6.01% 8.49% 7.55% 1.61%
Global Equity Class C CCGEX -15.17% 9.08% 5.22% 7.68% 6.75% 2.37%
Global Equity Class I CIGEX -14.34% 10.19% 6.29% 8.76% 7.83% 1.36%
Global Equity Class R6 CGEOX -14.40% N/A N/A N/A 5.51% 1.35%
Global Opportunities
Global Opportunities Class A CVLOX -12.67% 8.84% 4.91% 5.91% 7.52% 1.46%
Global Opportunities Class C CVLCX -13.32% 7.99% 4.15% 5.12% 6.83% 2.21%
Global Opportunities Class I CGCIX -12.46% 9.08% 5.18% 6.17% 7.09% 1.21%
International Small Cap Growth
International Small Cap Growth Class A CAISX N/A N/A N/A N/A -18.43% 11.28%
International Small Cap Growth Class C CCISX N/A N/A N/A N/A -19.11% 12.03%
International Small Cap Growth Class I CSGIX N/A N/A N/A N/A -18.33% 11.03%
International Small Cap Growth Class R6 CISOX N/A N/A N/A N/A -18.33% 11.03%

Sustainable Equities Fund

Fund Name Symbol
Returns* - As of 2/28/23
1 Year 3 Year 5 Year 10 Year Since Incep. Gross Expense Ratio
Calamos Antetokounmpo Sustainable Equities Fund
Calamos Antetokounmpo Sustainable Equities Fund Class A SROAX N/A N/A N/A N/A N/A 1.71%
Calamos Antetokounmpo Sustainable Equities Fund Class C SROCX N/A N/A N/A N/A N/A 2.46%
Calamos Antetokounmpo Sustainable Equities Fund Class I SROIX N/A N/A N/A N/A N/A 1.46%
Calamos Antetokounmpo Sustainable Equities Fund Class R6 SRORX N/A N/A N/A N/A N/A 1.46%

Fixed Income Funds

Fund Name Symbol
Returns* - As of 2/28/23
1 Year 3 Year 5 Year 10 Year Since Incep. Gross Expense Ratio
Total Return Bond
Total Return Bond Class A CTRAX -8.53% -3.53% 0.42% 1.16% 2.82% 1.15%
Total Return Bond Class C CTRCX -9.31% -4.28% -0.37% 0.39% 2.05% 1.90%
Total Return Bond Class I CTRIX -8.39% -3.28% 0.67% 1.41% 3.08% 0.88%
High Income Opportunities
High Income Opportunities Class A CHYDX -5.14% 1.29% 2.34% 2.94% 5.26% 1.40%
High Income Opportunities Class C CCHYX -5.89% 0.47% 1.58% 2.16% 4.91% 2.15%
High Income Opportunities Class I CIHYX -5.02% 1.49% 2.59% 3.20% 5.61% 1.15%
Short-Term Bond
Short-Term Bond Class A CSTBX -1.74% -0.16% N/A N/A 1.30% 0.63%
Short-Term Bond Class I CSTIX -1.52% 0.01% N/A N/A 1.52% 0.38%

Calamos Financial Services LLC, Distributor

Check the background of the firm and its investment professionals on FINRA's BrokerCheck.

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

©2023 Calamos Investments LLC. All Rights Reserved. Calamos®, Calamos Investments® and Investment strategies for your serious money® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Financial Services LLC and Calamos Antetokounmpo Asset Management LLC.

The personal data collected by Calamos on this website, or by any other means, is collected and stored in accordance with the General Data Protection Regulation (EU) 2016/679 ("GDPR").

Important Legal Information | Privacy Policy | Business Continuity | Code of Business Conduct and Ethics | ERISA 408(b)(2)

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 2.25% for Class A shares for the following funds: Convertible Fund, Global Convertible Fund, Market Neutral Income Fund, High Income Opportunities Fund, Short-Term Bond Fund, and Total Return Bond Fund. Performance reflected at NAV does not include the Fund's maximum front-end sales load for Class A shares of all other listed funds which is 4.75%. Had it been included, the Fund's return would have been lower.

*1-year, 3-year, 5-year, 10-year and since inception returns are as of the most recent month-end. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average. All performance shown assumes reinvestment of dividends and capital gains distributions. Performance shown reflects an expense reimbursement that improved results. Load-adjusted returns are adjusted for the maximum front-end sales load of 2.25% for Class A shares for the following funds: Convertible Fund, Global Convertible Fund, Market Neutral Income Fund, High Income Opportunities Fund, Short-Term Bond Fund, and Total Return Bond Fund. The maximum front-end sales load for Class A shares of all other listed funds is 4.75%. There is a 1% contingent deferred sales charge for C shares on certain redemptions within the first year of purchase. Class C shares have been adjusted for the contingent deferred sales charge (CDSC). There are no contingent deferred sales charges or distribution or service fees with respect to Class I shares. The minimum initial investment required to purchase each Fund's Class I shares is $1 million. Class I shares are offered primarily for direct investment by investors through certain tax-exempt retirement plans (including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans, defined benefit plans and non qualified deferred compensation plans) and by institutional clients, provided such plans or clients have assets of at least $1 million. Class I shares may also be offered to certain other entities or programs, including, but not limited to, investment companies, under certain circumstances.

The Fund's investment advisor has contractually agreed to reimburse Fund expenses through March 1, 2024, to the extent necessary so that Total Annual Fund Operating Expenses as a percentage of average net assets (excluding taxes, interest, short interest, short dividend expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) of Class A, Class C and Class I shares are limited to 1.20%, 1.95% and 0.95%, respectively, for the Calamos International Growth Fund; 1.30%, 2.05% and 1.05% for the Calamos Evolving World Growth Fund; 1.40%, 2.15% and 1.15% for the Calamos Global Equity Fund; 1.22%, 1.97%, and 0.97% for the Calamos Global Opportunities Fund; 1.35%, 2.10% and 1.10% for the Calamos Dividend Growth Fund; 1.15%, 1.90% and 0.90% for the Calamos Select Fund; 0.90%, 1.65% and 0.65% for the Calamos Total Return Bond Fund; 1.30%, 2.05% and 1.05% for the Calamos Timpani Small Cap Growth Fund; 1.00%, 1.75% and 0.75% for the Calamos High Income Opportunities Fund; and 1.35% and 1.10% for Class A and Class I shares of the Calamos Timpani SMID Growth Fund. The Fund's investment advisor has contractually agreed to reimburse Fund expenses through March 31, 2025, to the extent necessary so that Total Annual Fund Operating Expenses as a percentage of average net assets (excluding taxes, interest, short interest, short dividend expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) of Class A, Class C and Class I shares are limited to 1.35%, 2.10% and 1.10%, respectively, for the Calamos International Small Cap Growth Fund.

The Fund's investment advisor has contractually agreed to limit the Fund's annual ordinary operating expenses through March 1, 2024, for Class R6 shares (as a percentage of average net assets) less the Fund's annual sub-transfer agency ratio (the aggregate sub-transfer agency fees of the Fund's other share classes divided by the aggregate average annual net assets of the Fund's other share classes).  The current limits are 1.05% for the Calamos Timpani Small Cap Growth Fund; 1.10% for the Calamos Timpani SMID Growth Fund; 0.95% for the Calamos International Growth Fund; and 1.15% for the Calamos Global Equity Fund.

The Fund's investment advisor has contractually agreed to limit the Fund's annual ordinary operating expenses through March 31, 2025, for Class R6 shares (as a percentage of average net assets) less the Fund's annual sub-transfer agency ratio (the aggregate sub-transfer agency fees of the Fund's other share classes divided by the aggregate average annual net assets of the Fund's other share classes).  The current limits are 1.10% for the Calamos International Small Cap Growth Fund.

The Fund’s investment advisor has contractually agreed to reimburse Fund expenses through March 1, 2025, to the extent necessary so that the Total Annual Fund Operating Expenses (excluding taxes, interest, short interest, short dividend expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses if any) of Class A, Class C and Class I shares are limited to 1.20%, 1.95%, and 0.95% of average net assets, respectively, for the Calamos Global Sustainable Equities Fund. The Fund’s investment advisor has contractually agreed to limit the Fund's annual ordinary operating expenses for Class R6 shares (as a percentage of average net assets) to 0.95% less the Fund's annual sub-transfer agency ratio (the aggregate sub-transfer agency fees of the Fund's other share classes divided by the aggregate average annual net assets of the Fund's other share classes).

The Fund’s investment advisor has contractually agreed to reimburse Fund expenses through April 30, 2026 to the extent necessary so that Total Annual Fund Operating Expenses of Class A shares, Class C shares and Class I shares are limited to 1.35%, 2.10% and 1.10% of average net assets, respectively, for the Calamos Antetokounmpo Sustainable Equities Fund. The Fund’s investment advisor has contractually agreed to limit the Fund’s annual ordinary operating expenses through April 30, 2026 for Class R6 shares (as a percentage of average net assets) to 1.10% less the Fund’s annual sub-transfer agency ratio (the aggregate sub-transfer agency fees of the Fund’s other share classes divided by the aggregate average annual net assets of the Fund’s other share classes). For purposes of these expense limitations, operating expenses do not include taxes, interest, short interest, short dividend expenses, brokerage commissions, acquired fund fees and expenses, foreign tax reclaim expenses, and extraordinary expenses, if any. Calamos Antetokounmpo Asset Management LLC may recapture previously waived expense amounts within the same fiscal year for any day where the respective share class’s expense ratio falls below the contractual expense limit up to the expense limit for that day. This undertaking is binding on CGAM and any of its successors and assigns. This agreement is not terminable by either party.

Calamos Advisors may recapture previously waived expense amounts within the same fiscal year for any day where the respective Fund’s expense ratio falls below the contractual expense limit up to the expense limit for that day.

The funds' gross expense ratios as of the prospectus dated 3/1/2023 are as follows: Market Neutral Income A 1.18%, C 1.93%, I 0.93%, R6 0.88%; Hedged Equity A 1.17%, C 1.92% and I 0.92%; Phineus Long/Short A 2.39%, C 3.13% and I 2.15%; Convertible A 1.10%, C 1.85% and I 0.85%; Global Convertible A 1.28%, C 2.03% and I 1.03%; Timpani Small Cap Growth Fund A 1.37%, C 2.12%, I 1.12% and R6 1.00%; Timpani SMID Growth Fund A Shares 1.93%, I Shares 1.65% and R6 Shares 1.63%; Growth A 1.30%, C 2.05% and I 1.05%; Growth and Income A 1.05% ,C 1.80%, I 0.80% and R6 0.73%; Dividend Growth A 2.03%, C 2.78% and I 1.78%; Select A 1.57%, C 2.33% and I 1.32%; International Growth A 1.64%, C 2.39%, I 1.39% and R6 1.28%; Evolving World Growth A 1.63%, C 2.39% and I 1.38%; Global Equity A 1.61%, C 2.37%, I 1.36% and R6 1.35%; Global Opportunities A 1.46%, C 2.21% and I 1.21%; International Small Cap Growth A 11.28%, C 12.03%, I 11.03% and R6 11.03%; Global Sustainable Equities A 5.77%, C 6.52%, I 5.52%, R6 5.52%; Total Return Bond A 1.15%, C 1.90% and I 0.88%; High Income Opportunities A 1.40%, C 2.15% and I 1.15%; and Short-Term Bond A 0.63% and I 0.38%.

Interfund Lending
The Funds have adopted, effective April 23, 2020, an Interim InterFund Lending Program (the “InterFund Program”) in reliance upon the exemptive order issued by the Securities and Exchange Commission on March 23, 2020 (the “March 23, 2020 Order”). The InterFund Program will allow the Funds to borrow money from and lend money to each other for temporary or emergency purposes, such as to satisfy redemption requests or to cover unanticipated cash shortfalls. A description of the Funds’ policies and procedures in connection with the InterFund Program is available in the supplement to the statement of additional information dated April 30, 2020 and on the Funds’ website. www.calamos.com.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE