<SEC-DOCUMENT>0001104659-21-025838.txt : 20210219
<SEC-HEADER>0001104659-21-025838.hdr.sgml : 20210219
<ACCEPTANCE-DATETIME>20210219171636
ACCESSION NUMBER:		0001104659-21-025838
CONFORMED SUBMISSION TYPE:	486BPOS
PUBLIC DOCUMENT COUNT:		8
FILED AS OF DATE:		20210219
DATE AS OF CHANGE:		20210219
EFFECTIVENESS DATE:		20210301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND
		CENTRAL INDEX KEY:			0001171471
		IRS NUMBER:				030426532
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		486BPOS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-229042
		FILM NUMBER:		21657158

	BUSINESS ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60653
		BUSINESS PHONE:		6302451046

	MAIL ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60653

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND
		CENTRAL INDEX KEY:			0001171471
		IRS NUMBER:				030426532
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		486BPOS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21080
		FILM NUMBER:		21657159

	BUSINESS ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60653
		BUSINESS PHONE:		6302451046

	MAIL ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60653
<IS-FILER-A-NEW-REGISTRANT>N
<IS-FILER-A-WELL-KNOWN-SEASONED-ISSUER>N
<FILED-PURSUANT-TO-GENERAL-INSTRUCTION-A2>Y
</SEC-HEADER>
<DOCUMENT>
<TYPE>486BPOS
<SEQUENCE>1
<FILENAME>tm215399d1_486bpos.htm
<DESCRIPTION>486BPOS
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 143.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>As filed with the Securities and Exchange Commission
on February 19, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 143.9pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; text-align: right"><B>1933 Act File No. 333-229042</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; text-align: right"><B>1940 Act File No. 811-21080</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; text-align: right"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 12pt"><B>U.S.
SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 50.3pt 0pt 50.2pt; text-align: center"><B>Form N-2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Check appropriate box
or boxes)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">x</FONT></TD><TD><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><B>Pre-Effective Amendment No.</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">x</FONT></TD><TD><B>Post-Effective Amendment No. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.35pt 0pt 50.2pt; text-align: center"><B>and</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">x</FONT></TD><TD><B>REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">x</FONT></TD><TD><B>Amendment No. 36</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CALAMOS CONVERTIBLE<BR>
 OPPORTUNITIES
AND INCOME FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>2020 Calamos Court</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Naperville, Illinois
60563</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.35pt 0pt 50.2pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(630) 245-7200</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Agent for Service</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">John P. Calamos, Sr.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Calamos Convertible Opportunities and Income
Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">2020 Calamos Court</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Naperville, Illinois 60563</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Copies of Communications to:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25pt 0pt 0.5in; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 33%">Paulita A. Pike</TD>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 34%">Jeremy Smith</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">Ropes &amp; Gray LLP</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Ropes &amp; Gray LLP</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">191 North Wacker Drive, 32nd
Floor</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1211 Avenue of the Americas</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">Chicago, Illinois 60606</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">New York, New York 10036</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25pt 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Approximate Date of Proposed Public Offering: </B>From
time to time after the effective date of the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 13.05pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the </FONT>only <FONT STYLE="font-family: Times New Roman, Times, Serif">securities being registered on this Form are being offered
pursuant to dividend or interest reinvestment plans, check the following box <FONT STYLE="font-family: Wingdings">&#168;</FONT>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 13.05pt; margin-bottom: 0pt">If any of the securities being registered on
this form will be offered on a delayed or continuous basis in reliance on Rule 415 under the Securities Act of 1933, other than
securities offered in connection with a dividend reinvestment plan, check the following box. <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 13.05pt; margin-bottom: 0pt">If this Form is a registration statement pursuant
to General Instruction A.2 or a post-effective amendment thereto, check the following box <FONT STYLE="font-family: Wingdings">&#168;</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 13.05pt; margin-bottom: 0pt">If this Form is a registration statement pursuant
to General Instruction B or a post-effective amendment thereto that will become effective upon filing with the Commission pursuant
to Rule 462(e) under the Securities Act, check the following box <FONT STYLE="font-family: Wingdings">&#168;</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 13.05pt; margin-bottom: 0pt">If this Form is a post-effective amendment to
a registration statement filed pursuant to General Instruction B to register additional securities or additional classes of securities
pursuant to Rule 413(b) under the Securities Act, check the following box <FONT STYLE="font-family: Wingdings">&#168;</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 243pt 0pt 31.5pt; text-indent: -25.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">It is proposed that this
filing will become effective (check appropriate box)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 243pt 0pt 31.5pt; text-indent: -25.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>when declared effective pursuant to
                                         section 8(c)</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Wingdings">x</FONT> </TD><TD> on March 1, 2021 pursuant to Rule 486(b) as applied by no-action relief granted to Registrant on February 14,
                                                                                                                  2011 </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If appropriate, check the following box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Wingdings">&#168;</FONT>This post-effective amendment designates a new effective
date for a previously filed registration statement.&#9744; This form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act and the Securities Act</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">registration statement number of the earlier effective registration
statement for the same offering is.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> This
Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, and the Securities Act
registration statement number of the earlier effective registration statement for the same offering is .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> This
Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, and the Securities Act
registration statement number of the earlier effective registration statement for the same offering is .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check each box that appropriately characterizes the Registrant:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Wingdings">&#120;</FONT>
Registered closed-end fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Wingdings">&#168;</FONT>
Business development company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Wingdings">&#168;</FONT>
Interval fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Wingdings">&#120;</FONT> A.2
Qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Wingdings">&#168;</FONT>&#8239;Well-Known Seasoned Issuer (as defined by Rule 405 under
the Securities Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Wingdings">&#168;</FONT>
Emerging Growth Company (as defined by Rule 12b-2 under the Securities Exchange Act of 1934 (&#8220;Exchange Act&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Wingdings">&#168;</FONT> New
Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 218.85pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 218.85pt">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 218.85pt">&nbsp;</P>


<!-- Document name: 21-5399-2.ba-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Base Prospectus</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:18pt;"><b>$100,000,000</b></font></p>
<p style="margin:8pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:18pt;"><b>Calamos Convertible Opportunities and Income Fund</b></font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:14pt;"><b>Common Shares <BR>Preferred Shares <BR>Debt Securities</b></font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Convertible Opportunities and Income Fund (the "Fund," "we," "us," or "our") is a diversified, closed-end management investment company that commenced investment operations in June 2002. Our investment objective is to provide total return through a combination of capital appreciation and current income.</font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer, on an immediate, continuous or delayed basis, up to $100,000,000 aggregate initial offering price of our common shares (no par value per share), preferred shares (no par value per share) or debt securities, which we refer to in this prospectus collectively as our securities, in one or more offerings. We may offer our common shares, preferred shares and debt securities separately or together, in amounts, at prices and on terms set forth in a prospectus supplement to this prospectus. You should read this prospectus and the related prospectus supplement carefully before you decide to invest in any of our securities.</font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer our securities directly to one or more purchasers, through agents that we or they designate from time to time, or to or through underwriters or dealers. The prospectus supplement relating to the particular offering will identify any agents or underwriters involved in the sale of our securities, and will set forth any applicable purchase price, fee, commission or discount arrangement between us and such agents or underwriters or among the underwriters and the basis upon which such amount may be calculated. For more information about the manner in which we may offer our securities, see "Plan of Distribution." Our securities may not be sold through agents, underwriters or dealers without delivery or deemed delivery of a prospectus supplement and a prospectus.</font></p>


<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our common shares are listed on the Nasdaq Global Select Market under the symbol "CHI." As of January 31, 2021, the last reported sale price for our common shares was $13.53 per share. As of January 31, 2021, the last reported net asset value for our common shares was $15.07 per share.</font></p>

<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investing in our securities involves certain risks, including the risks associated with the Fund's use of leverage. You could lose some or all of your investment. See "Risk Factors" beginning on page 40 of this prospectus. Shares of closed-end investment companies frequently trade at a discount to their net asset value and this may increase the risk of loss to purchasers of our securities. You should consider carefully these risks together with all of the other information contained in this prospectus and any prospectus supplement before making a decision to purchase our securities.</b></font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</b></font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund's shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the Fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.</b></font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Fund electronically by calling 800.582.6959. If you own these shares through a financial intermediary, you may contact your financial intermediary.</b></font></p>
</div>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=1,FOLIO='',FILE='21-5399-2.ba.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>You may elect to receive all future reports in paper free of charge. You can inform the Fund that you wish to continue receiving paper copies of your shareholder reports by calling 800.582.6959. If you own these shares through a financial intermediary, you may contact your financial intermediary or follow instructions included with this disclosure to elect to continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held with the fund complex or your financial intermediary.</b></font></p>


<p style="margin:0pt 0pt 9pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus dated March 1, 2021</font></p>



<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus, together with any accompanying prospectus supplement, sets forth concisely the information that you should know before investing. You should read the prospectus and prospectus supplement, which contain important information, before deciding whether to invest in our securities. You should retain the prospectus and prospectus supplement for future reference. A statement of additional information, dated the same date as this prospectus, as supplemented from time to time, containing additional information, has been filed with the Securities and Exchange Commission ("SEC" or the "Commission") and is incorporated by reference in its entirety into this prospectus. You may request a free copy of the statement of additional information, request a free copy of our annual and semi-annual reports, request other information or make shareholder inquiries, by calling toll-free 800.582.6959, by sending an e-mail request to prospectus@calamos.com, or by writing to the Fund at 2020 Calamos Court, Naperville, Illinois 60563. The Fund's annual and semi-annual reports also are available on our website, free of charge, at www.calamos.com, which also provides a link to the Commission's website, as described below, where the Fund's statement of additional information can be obtained. Information included on our website does not form part of this prospectus. You can review documents we have filed on the Commission's website (http://www.sec.gov) for free.</font></p>

<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our securities do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution and are not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.</font></p>
</div>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=2,FOLIO='',FILE='21-5399-2.ba.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>TABLE OF CONTENTS</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="415" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">


 &nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="48" align="center" valign="bottom" style="padding:0pt .7pt 4pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Page</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#prospectussummary" title="Prospectus Summary"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus Summary</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#summaryoffundexpenses" title="Summary of Fund Expenses"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Summary of Fund Expenses</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">23</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#financialhighlights" title="Financial Highlights"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Financial Highlights</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#marketandnetassetvalueinfo" title="Market and Net Asset Value Information"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Market and Net Asset Value Information</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">27</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#useofproceeds" title="Use of Proceeds"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of Proceeds</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">28</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#thefund" title="The Fund"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">28</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#investmentobjectiveandprincipalinvestment" title="Investment Objective and Principal Investment Strategies"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Investment Objective and Principal Investment Strategies</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">29</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#leverage" title="Leverage"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">37</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#interestratetransactions" title="Interest Rate Transactions"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Interest Rate Transactions</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">43</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#riskfactors" title="Risk Factors"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Risk Factors</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">45</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#managementofthefund" title="Management of the Fund"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Management of the Fund</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">63</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#closedendfundstructure" title="Closed-End Fund Structure"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Closed-End Fund Structure</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">67</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#certainfederalincometaxmatters" title="Certain Federal Income Tax Matters"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain Federal Income Tax Matters</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">68</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#netassetvalue" title="Net Asset Value"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net Asset Value</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">76</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#dividendsanddistributions" title="Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan</font></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">78</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#descriptionofsecurities" title="Description of Securities"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Description of Securities</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">83</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#ratingagencyguidelines" title="Rating Agency Guidelines"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Rating Agency Guidelines</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">88</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#certainprovisions" title="Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover<BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Provisions</font></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">90</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#planofdistribution" title="Plan of Distribution"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Plan of Distribution</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">92</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#custodiantransferagentdividend" title="Custodian, Transfer Agent, Dividend Disbursing Agent and Registrar"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Custodian, Transfer Agent, Dividend Disbursing Agent and Registrar</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#legalmatters" title="Legal Matters"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Legal Matters</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#experts" title="Experts"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Experts</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="415" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<a href="#availableinformation" title="Available Information"><p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Available Information</font></p></a>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="32" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">96</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>You should rely only on the information contained or incorporated by reference in this prospectus and any related prospectus supplement in making your investment decisions. We have not authorized any other person to provide you with different or inconsistent information. If anyone provides you with different or inconsistent information, you should not rely on it. This prospectus and any prospectus supplement do not constitute an offer to sell or solicitation of an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. The information appearing in this prospectus and in any prospectus supplement is accurate only as of the dates on their covers. Our business, financial condition and prospects may have changed since such dates. We will advise you of any material changes to the extent required by applicable law.</b></font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>i</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=3,FOLIO='i',FILE='21-5399-2.ba.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS</b></font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus, any accompanying prospectus supplement and the statement of additional information contain "forward-looking statements." Forward-looking statements can be identified by the words "may," "will," "intend," "expect," "estimate," "continue," "plan," "anticipate," and similar terms and the negative of such terms. Such forward-looking statements may be contained in this prospectus as well as in any accompanying prospectus supplement. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Several factors that could materially affect our actual results are the performance of the portfolio of securities we hold, the price at which our shares will trade in the public markets and other factors discussed in our periodic filings with the Commission. Currently known risk factors that could cause actual results to differ materially from our expectations include, but are not limited to, the factors described in the "Risk Factors" section of this prospectus. We urge you to review carefully that section for a more detailed discussion of the risks of an investment in our securities.</font></p>
<p style="margin:0pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Although we believe that the expectations expressed in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties, such as those disclosed in the "Risk Factors" section of this prospectus. All forward-looking statements contained or incorporated by reference in this prospectus or any accompanying prospectus supplement are made as of the date of this prospectus or such accompanying prospectus supplement, as the case may be. Except for our ongoing obligations under the federal securities laws, we do not intend, and we undertake no obligation, to update any forward-looking statement. The forward-looking statements contained in this prospectus, any accompanying prospectus supplement and the statement of additional information are excluded from the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended (the "1933 Act").</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>ii</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=4,FOLIO='ii',FILE='21-5399-2.ba.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-2.ca-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="prospectussummary"></a><b>PROSPECTUS SUMMARY</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>The following summary contains basic information about us and our securities. It is not complete and may not contain all of the information you may want to consider before investing in the Fund. You should review the more detailed information contained in this prospectus and in any related prospectus supplement and in the statement of additional information, especially the information set forth under the heading "Risk Factors" beginning on page 40 of this prospectus.</i></font></p>
<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The Fund</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund is a diversified, closed-end management investment company. We commenced operations in June 2002 following our initial public offering. As of January 31, 2021, we had $1.5 billion of total managed assets, including $100 million of outstanding mandatory redeemable preferred shares ("MRP Shares" or "MRPS"). As of January 31, 2021, the Fund had utilized $372.4 million of the $430 million available under the Amended and Restated Liquidity Agreement (the "SSB Agreement") with State Street Bank and Trust Company ("SSB" or "State Street") ($29.9 million of borrowings outstanding, and $342.5 million in structural leverage consisting of collateral received from SSB in connection with securities on loan), representing 24.2% of the Fund's managed assets as of that date, and had $100 million of MRP Shares outstanding, representing 6.5% of the Fund's managed assets. Combined, the borrowings under the SSB Agreement and the outstanding MRP Shares represented 30.6% of the Fund's managed assets. Structural leverage refers to borrowings under the liquidity agreement in respect of which the Fund's interest payments are reduced or eliminated by the Fund's securities lending activities. See "Leverage." Our fiscal year ends on October 31. Our investment objective is to provide total return through a combination of capital appreciation and current income.</font></p>

<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investment Adviser</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Advisors LLC (the "Adviser" or "Calamos") serves as our investment adviser. Calamos is responsible on a day-to-day basis for investment of the Fund's portfolio in accordance with its investment objective and policies. Calamos makes all investment decisions for the Fund and places purchase and sale orders for the Fund's portfolio securities. As of January 31, 2021, Calamos managed approximately $33.4 billion in assets of individuals and institutions. Calamos is a wholly-owned subsidiary of Calamos Investments LLC ("CILLC"). Calamos Asset Management, Inc. is the sole manager of CILLC.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund pays Calamos an annual management fee, payable monthly in arrears, for its investment management services equal to 0.80% of the Fund's average weekly managed assets. "Managed assets" means the total assets of the Fund (including any assets attributable to any leverage that may be outstanding) minus the sum of accrued liabilities (other than debt representing financial leverage). "Net assets" does not include any assets attributable to any leverage that may be outstanding, or other debt representing financial leverage. See "Management of the Fund."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The principal business address of the Adviser is 2020 Calamos Court, Naperville, Illinois 60563.</font></p>
<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The Offering</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer, from time to time, in one or more offerings or series, together or separately, up to $100,000,000 of our common shares, preferred shares or debt securities, which we refer to, collectively, as the "securities." We may sell our securities through underwriters or dealers, "at the market" to or through a market maker into an existing trading market or otherwise directly to one or more purchasers or through agents or through a combination of methods of sale. The identities of such underwriters, dealers, market makers or agents, as the case may be, will be described in one or more supplements to this prospectus. The securities may be </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>1</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=5,FOLIO='1',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">offered at prices and on terms to be described in one or more supplements to this prospectus. In the event we offer common shares, the offering price per share of our common shares exclusive of any underwriting commissions or discounts will not be less than the net asset value per share of our common shares at the time we make the offering except as permitted by applicable law. To the extent that the Fund issues common shares and current shareholders do not participate, those current shareholders may experience a dilution of their voting rights as new shares are issued to the public. Depending on the facts, any issuance of new common shares may also have the effect of reducing any premium to per share net asset value at which the shares might trade and the market price at which the shares might trade.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Currently, the Fund does not intend to offer any additional preferred shares or debt securities (collectively, "senior securities"), but reserves the right to do so in the future.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer our securities directly to one or more purchasers, through agents that we or they designate from time to time, or to or through underwriters or dealers. The prospectus supplement relating to the relevant offering will identify any agents or underwriters involved in the sale of our securities, and will set forth any applicable purchase price, fee, commission or discount arrangement between us and such agents or underwriters or among underwriters and the basis upon which such amount may be calculated. See "Plan of Distribution." Our securities may not be sold through agents, underwriters or dealers without delivery or deemed delivery of a prospectus and prospectus supplement describing the method and terms of the applicable offering of our securities.</font></p>
<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Use of Proceeds</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Unless otherwise specified in a prospectus supplement, we currently intend to use the net proceeds from the sale of our securities primarily to invest in accordance with our investment objective and policies within approximately three months of receipt of such proceeds. We may also use proceeds from the sale of our securities to retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies and for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for these purposes.</font></p>
<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Dividends and Distributions on Common Shares</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund intends to distribute to common shareholders all or a portion of its net investment income monthly and net realized capital gains, if any, at least annually. On November 4, 2008, the Commission granted Calamos, on behalf of itself and certain closed-end funds that it manages, including the Fund, or may manage in the future, an order granting an exemption from Section 19(b) of, and Rule 19b-1 under, the Investment Company Act of 1940, as amended (the "1940 Act"), to conditionally permit the Fund to make periodic distributions of long-term capital gains with respect to the Fund's outstanding common shares as frequently as twelve times each year, so long as it complies with the conditions of the order and maintains in effect a distribution policy with respect to its common shares calling for periodic distributions of an amount equal to a fixed amount per share, a fixed percentage of market price per share or a fixed percentage of the Fund's net asset value per share (a "Managed Distribution Policy"). See "Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan &#151; Dividends and Distributions on Common Shares" for a discussion of the requirements under the order permitting the Managed Distribution Policy.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As of January 1, 2018, the Fund adopted such Managed Distribution Policy. Pursuant to such policy, the Fund currently intends to make monthly distributions to common shareholders stated in terms of a fixed cent per common share distribution rate that would be composed of, in addition to net investment income, supplemental amounts generally representing realized capital gains or, possibly, returns of capital representing either unrealized capital gains or a return of original investment. Such distributions, including such supplemental amounts, are sometimes referred to as "managed distributions."</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>2</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=6,FOLIO='2',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will seek to establish a distribution rate that roughly corresponds to the Adviser's projections of the total return that could reasonably be expected to be generated by the Fund over an extended period of time, although the distribution rate will not be solely dependent on the amount of income earned or capital gains realized by the Fund. Calamos, in making such projections, may consider long-term historical returns and a variety of other factors. If, for any monthly distribution, net investment income and net realized capital gains were less than the amount of the distribution, the difference would be distributed from the Fund's assets. In addition, in order to make such distributions, the Fund might have to sell a portion of its investment portfolio at a time when independent investment judgment might not dictate such action. The Fund's final distribution for each calendar year will include any remaining net investment income undistributed during the year and may include any remaining net realized capital gains undistributed during the year. The Fund's actual financial performance will likely vary significantly from quarter to quarter and from year to year, and there may be extended periods of up to several years when the distribution rate will exceed the Fund's actual total returns. The Fund's projected or actual distribution rate is not a prediction of what the Fund's actual total returns will be over any specific future period. See "Certain Federal Income Tax Matters &#151; Federal Income Taxation of Common and Preferred Shareholders" and "Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan &#151; Dividends and Distributions on Common Shares" below for a discussion of the short- and long-term implications associated with Fund distributions.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As portfolio and market conditions change, the rate of distributions on the common shares and the Fund's distribution policy could change. To the extent that the total return of the Fund exceeds the distribution rate for an extended period, the Fund may be in a position to increase the distribution rate or distribute supplemental amounts to shareholders. Conversely, if the total return of the Fund is less than the distribution rate for an extended period of time, the Fund will effectively be drawing upon its net assets to meet payments prescribed by its distribution policy. The rate may be modified by the Fund's Board of Trustees from time to time without prior notice to the Fund's shareholders.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net realized short-term capital gains distributed to shareholders will be taxed as ordinary income for federal income tax purposes and net realized long-term capital gain (if any) will be taxed for federal income tax purposes at long-term capital gain rates. To the extent the Fund distributes an amount in excess of the Fund's current and accumulated earnings and profits, such excess, if any, will be treated by a shareholder for federal income tax purposes as a tax-free return of capital to the extent of the shareholder's adjusted tax basis in their shares and thereafter as a gain from the sale or exchange of such shares. Any such distributions made by the Fund will reduce the shareholder's adjusted tax basis in their shares to the extent that the distribution constitutes a return of capital on a tax basis during any calendar year and, thus, could potentially subject the shareholder to capital gains taxation in connection with a later sale of Fund shares, even if those shares are sold at a price that is lower than the shareholder's original investment price. To the extent that the Fund's distributions exceed the Fund's current and accumulated earnings and profits, the distribution payout rate will exceed the yield generated from the Fund's investments. There is no guarantee that the Fund will realize capital gain in any given year. Distributions are subject to re-characterization for federal income tax purposes after the end of the fiscal year. See "Certain Federal Income Tax Matters."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Pursuant to the Fund's Automatic Dividend Reinvestment Plan, unless a shareholder is ineligible or elects otherwise, all dividends and capital gain distributions on common shares are automatically reinvested in additional common shares of the Fund. However, an investor can choose to receive dividends and distributions in cash. Since investors can participate in the automatic dividend reinvestment plan only if their broker or nominee participates in our plan, you should contact your broker or nominee to confirm that you are eligible to participate in the plan. See "Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan &#151; Automatic Dividend Reinvestment Plan."</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>3</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=7,FOLIO='3',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investment Policies</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Primary Investments.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under normal circumstances, the Fund invests at least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities.<sup>1</sup> The portion of the Fund's assets invested in convertible securities and non-convertible income securities will vary from time to time consistent with the Fund's investment objective, changes in equity prices and changes in interest rates and other economic and market factors, although, under normal circumstances, the Fund will invest at least 35% of its managed assets in convertible securities. The Fund invests in securities with a broad range of maturities. The average term to maturity of the Fund's securities typically will range from five to ten years. See "Investment Objective and Principal Investment Strategies &#151; Principal Investment Strategies."</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Convertible Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund is not limited in the percentage of its assets invested in convertible securities, and investment in convertible securities forms an important part of the Fund's principal investment strategies.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under normal circumstances, the Fund will invest at least 35% of its managed assets in convertible securities. A convertible security is a debt security, debenture, note or preferred stock that is exchangeable for an equity security (typically common stock of the same issuer) at a predetermined price (the "conversion price"). Depending upon the relationship of the conversion price to the market value of the underlying security, a convertible security may trade more like an equity security than a debt instrument. The Fund may invest in convertible securities of any rating. See "Investment Objective and Principal Investment Strategies &#151; Principal Investment Strategies &#151; Convertible Securities."</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Synthetic Convertible Instruments.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in "synthetic" convertible instruments. A synthetic convertible instrument is a financial instrument (or two or more securities held in tandem) that is designed to simulate the economic characteristics of another instrument (i.e., a convertible security) through the combined economic features of a collection of other securities or assets. Calamos may create a synthetic convertible instrument by combining separate securities that possess the two principal characteristics of a true convertible security, i.e., a fixed-income security ("fixed-income component", which may be a convertible or non-convertible security) and the right to acquire an equity security ("convertible component"). The fixed-income component is achieved by investing in fixed-income securities such as bonds, preferred stocks and money market instruments. The convertible component is achieved by investing in warrants or options to buy common stock at a certain exercise price, or options on a stock index.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may also invest in synthetic convertible instruments created by third parties, typically investment banks. Synthetic convertible instruments created by such parties may be designed to simulate the characteristics of traditional convertible securities or may be designed to alter or emphasize a particular feature. Traditional convertible securities typically offer the opportunity for stable cash flows with the ability to participate in capital appreciation of the underlying common stock. Traditional convertible securities are exercisable at the option of the holder. Synthetic convertible instruments may alter these characteristics by offering enhanced yields in exchange for reduced capital appreciation, additional risk of loss, or any combination of these features. Synthetic convertible instruments may include structured notes, equity-linked notes, mandatory convertibles and combinations of securities and instruments, such as a debt instrument combined with a forward contract. The Fund's holdings of synthetic convertible instruments are considered convertible securities for purposes of the Fund's policy to invest at least 35% of its managed assets in convertible securities and 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities. See "Investment Objective and Principal Investment Strategies &#151; Principal Investment Strategies &#151; Synthetic Convertible Instruments."</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1&nbsp;&nbsp;This is a non-fundamental policy and may be changed by the Board of Trustees of the Fund provided that shareholders are provided with at least 60 days' prior written notice of any change as required by the rules under the 1940 Act.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>4</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=8,FOLIO='4',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Non-Convertible Income Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund will also invest in non-convertible income securities. The Fund's investments in non-convertible income securities may have fixed or variable principal payments and all types of interest rate and dividend payment and reset terms, including fixed rate, adjustable rate, zero coupon, contingent, deferred, payment in kind and auction rate features. See "Investment Objective and Principal Investment Strategies &#151; Principal Investment Strategies &#151; Non-Convertible Income Securities."</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>High Yield Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> A substantial portion of the Fund's assets may be invested in below investment grade (high yield, high risk) securities for either current income or capital appreciation or both. These securities are rated Ba or lower by Moody's Investors Service, Inc. ("Moody's") or BB or lower by Standard &amp; Poor's Financial Services, LLC, a subsidiary of The McGraw-Hill Companies, Inc. ("Standard &amp; Poor's") or are unrated securities of comparable quality as determined by Calamos, the Fund's investment adviser. The Fund may invest in high yield securities of any rating. The Fund may, but currently does not intend to, invest up to 5% of its managed assets in distressed securities that are in default or the issuers of which are in bankruptcy. Non-convertible debt securities rated below investment grade are commonly referred to as "junk bonds" and are considered speculative with respect to the issuer's capacity to pay interest and repay principal. Below investment grade securities involve greater risk of loss, are subject to greater price volatility and are less liquid, especially during periods of economic uncertainty or change, than higher rated securities. See "Investment Objective and Principal Investment Strategies &#151; Principal Investment Strategies &#151; High Yield Securities."</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Foreign Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Although the Fund primarily invests in securities of U.S. issuers, the Fund may invest up to 25% of its net assets in securities of foreign issuers in developed and emerging markets, including debt and equity securities of corporate issuers and debt securities of government issuers. A foreign issuer is a foreign government or a company organized under the laws of a foreign country. See "Investment Objective and Principal Investment Strategies &#151; Principal Investment Strategies &#151; Foreign Securities."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Options Writing.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may seek to generate income from option premiums by writing (selling) options. The Fund may write (sell) call options (i) on a portion of the equity securities (including equity securities obtainable by the Fund through the exercise of its rights with respect to convertible securities it owns) in the Fund's portfolio and (ii) on broad-based securities indices (such as the Standard and Poor's 500<sup>&reg;</sup> Index ("S&amp;P 500") or the MSCI EAFE<sup>&reg;</sup> Index ("MSCI EAFE"), which is an index of international equity stocks) or certain ETFs (exchange-traded funds) that trade like common stocks but seek to replicate such market indices.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, to seek to offset some of the risk of a potential decline in value of certain long positions, the Fund may also purchase put options on individual securities, broad-based securities indices (such as the S&amp;P 500 or the MSCI EAFE), or certain ETFs that trade like common stocks but seek to replicate such market indices. See "Investment Objective and Principal Investment Strategies &#151; Options Writing."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Rule 144A Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest without limit in certain securities ("Rule 144A Securities"), such as convertible and debt securities, that are typically purchased in transactions exempt from the registration requirements of the 1933 Act pursuant to Rule 144A under that Act. Rule 144A Securities may only be sold to qualified institutional buyers, such as the Fund. Any resale of these securities must generally be effected through a sale that is registered under the 1933 Act or otherwise exempted or excepted from such registration requirements. Under the supervision and oversight of the Fund's Board of Trustees, Calamos will determine whether Rule 144A Securities are liquid. Typically, the Fund purchases Rule 144A Securities only if Calamos has determined them to be liquid. If any Rule 144A Security held by the Fund should become illiquid, the value of the security may be reduced and a sale of the security may be more difficult. See "Investment Objective and Principal Investment Strategies &#151; Principal Investment Strategies &#151; Rule 144A Securities."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Loans.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in loan participations and other direct claims against a borrower. The corporate loans in which the Fund may invest primarily consist of direct obligations of a borrower and may include debtor </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>5</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=9,FOLIO='5',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">in possession financings pursuant to Chapter 11 of the U.S. Bankruptcy Code, obligations of a borrower issued in connection with a restructuring pursuant to Chapter 11 of the U.S. Bankruptcy Code, leveraged buy-out loans, leveraged recapitalization loans, receivables purchase facilities, and privately placed notes. The Fund may invest in a corporate loan at origination as a co-lender or by acquiring in the secondary market participations in, assignments of or novations of a corporate loan. By purchasing a participation, the Fund acquires some or all of the interest of a bank or other lending institution in a loan to a corporate or government borrower. The participations typically will result in the Fund having a contractual relationship only with the lender not the borrower. The Fund will have the right to receive payments of principal, interest and any fees to which it is entitled only from the lender selling the participation and only upon receipt by the lender of the payments from the borrower. Many such loans are secured, although some may be unsecured. Such loans may be in default at the time of purchase. Loans that are fully secured offer the Fund more protection than an unsecured loan in the event of non-payment of scheduled interest or principal. However, there is no assurance that the liquidation of collateral from a secured loan would satisfy the corporate borrower's obligation, or that the collateral can be liquidated. Direct debt instruments may involve a risk of loss in case of default or insolvency of the borrower and may offer less legal protection to the Fund in the event of fraud or misrepresentation. In addition, loan participations involve a risk of insolvency of the lending bank or other financial intermediary. The markets in such loans are not regulated by federal securities laws or the Commission.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Other Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in other securities of various types to the extent consistent with its investment objective. Normally, the Fund invests substantially all of its assets to meet its investment objective. For temporary defensive purposes, the Fund may depart from its principal investment strategies and invest part or all of its assets in securities with remaining maturities of less than one year or cash equivalents; or it may hold cash. During such periods, the Fund may not be able to achieve its investment objective. There are no restrictions as to the ratings of debt securities acquired by the Fund or the portion of the Fund's assets that may be invested in debt securities in a particular ratings category. For more information on the types of derivatives that the Fund invests in, see "Investment Objective and Principal Investment Strategies &#151; Principal Investment Strategies" in this prospectus and "Investment Objective and Policies" in the statement of additional information.</font></p>
<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Use of Leverage by the Fund</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund currently uses, and may in the future use, financial leverage. The Fund has obtained financial leverage (i) under the SSB Agreement that allows the Fund to borrow up to $430 million and (ii) through the issuance of three series of MRP Shares with an aggregate liquidation preference of $100 million, as described in greater detail below. The SSB Agreement provides for securities lending and securities repurchase transactions that may offset some of the interest rate payments that would otherwise be due in respect of the borrowings under the SSB Agreement. The Fund's outstanding MRP Shares include 1,330,000 Series A MRP Shares, with an aggregate liquidation preference of $33,250,000 and a mandatory redemption date of September 6, 2022; 1,330,000 Series B MRP Shares, with an aggregate liquidation preference of $33,250,000 and a mandatory redemption date of September 6, 2024; and 1,340,000 Series C MRP Shares, with an aggregate liquidation preference of $33,500,000 and a mandatory redemption date of September 6, 2027. The Series A, Series B and Series C MRP Shares are to pay monthly cash dividends initially at rates of 3.70%, 4.00% and 4.24%, respectively, subject to adjustment under certain circumstances. Additional details regarding the SSB Agreement and the MRP Shares are included under "Leverage."</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As of January 31, 2021, the Fund had utilized $372.4 million of the $430 million available under the SSB Agreement ($29.9 million in borrowings outstanding, and $342.5 million in structural leverage consisting of collateral received from SSB in connection with securities on loan), representing 24.2% of the Fund's managed assets as of that date, and had $100 million of MRP Shares outstanding, representing 6.5% of the Fund's managed </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>6</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=10,FOLIO='6',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">assets. Combined, the borrowings under the SSB Agreement and the outstanding MRP Shares represented 30.6% of the Fund's managed assets.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may make further use of financial leverage through the issuance of additional preferred shares or may borrow money or issue additional debt securities to the extent permitted under the 1940 Act or under the SSB Agreement. As a non-fundamental policy, the Fund may not issue preferred shares or borrow money and/or issue debt securities with an aggregate liquidation preference and aggregate principal amount exceeding 38% of the Fund's managed assets measured at the time of borrowing or issuance of the new securities. However, the Board of Trustees reserves the right to issue preferred shares or debt securities or borrow to the extent permitted by the 1940 Act. See "Leverage." The holders of preferred shares or debt, if any, on the one hand, and the holders of the common shares, on the other, may have interests that conflict with each other in certain situations. See "Description of Securities &#151; Preferred Shares" and "Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Because Calamos' investment management fee is a percentage of the Fund's managed assets, Calamos' fee will be higher if the Fund is leveraged and Calamos will have an incentive to be more aggressive and leverage the Fund. Consequently, the Fund and Calamos may have differing interests in determining whether to leverage the Fund's assets. Any additional use of leverage by the Fund effected through new, additional or increased credit facilities or the issuance of preferred shares would require approval by the Board of Trustees of the Fund. In considering whether to approve the use of additional leverage through those means, the Board would be presented with all relevant information necessary to make a determination whether or not additional leverage would be in the best interests of the Fund, including information regarding any potential conflicts of interest. For further information about the Fund's financial leverage, see "Use of Leverage by the Fund."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">For further information about the effects of the Fund's financial leverage and an illustration of the hypothetical effect on the return to a holder of the Fund's common shares of the leverage obtained by borrowing under the Fund's financing package, see "Effects of Leverage." For further information about leveraging, see "Risk Factors &#151; Fund Risks &#151; Leverage Risk."</font></p>
<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Interest Rate Transactions</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In order to seek to reduce the interest rate risk inherent in the Fund's underlying investments and capital structure, the Fund, if Calamos deems market conditions favorable, may enter into over-the-counter interest rate swap, cap or floor transactions to attempt to protect itself from increasing dividend or interest expenses on its leverage. The use of interest rate swaps and caps is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio security transactions.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In an interest rate swap, the Fund would agree to pay to the other party to the interest rate swap (which is known as the "counterparty") a fixed rate payment in exchange for the counterparty agreeing to pay to the Fund a payment at a variable rate that is expected to approximate the rate on any variable rate payment obligation on the Fund's leverage. The payment obligations would be based on the notional amount of the swap.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In an interest rate cap, the Fund would pay a premium to the counterparty to the interest rate cap and, to the extent that a specified variable rate index exceeds a predetermined fixed rate, would receive from the counterparty payments of the difference based on the notional amount of such cap. There can be no assurance that the Fund will use interest rate transactions or that, if used, their use will be beneficial to the Fund. Depending on the state of interest rates in general, the Fund's use of interest rate swap or cap transactions could enhance or harm the overall performance of the common shares. See "Interest Rate Transactions."</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>7</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=11,FOLIO='7',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Conflicts of Interest</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Conflicts of interest may arise from the fact that Calamos and its affiliates carry on substantial investment activities for other clients, in which the Fund does not have an interest. Calamos or its affiliates may have financial incentives to favor certain of these accounts over the Fund. Any of their proprietary accounts or other customer accounts may compete with the Fund for specific trades. Calamos or its affiliates may give advice and recommend securities to, or buy or sell securities for, other accounts and customers, which advice or securities recommended may differ from advice given to, or securities recommended or bought or sold for, the Fund, even though their investment objectives may be the same as, or similar to, the Fund's investment objective.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Situations may occur when the Fund could be disadvantaged because of the investment activities conducted by Calamos and its affiliates for their other accounts. Such situations may be based on, among other things, the following: (1) legal or internal restrictions on the combined size of positions that may be taken for the Fund or the other accounts, thereby limiting the size of the Fund's position; (2) the difficulty of liquidating an investment for the Fund or the other accounts where the market cannot absorb the sale of the combined position; or (3) limits on co-investing in negotiated transactions under the 1940 Act. See "Investment Objective and Principal Investment Strategies &#151; Conflicts of Interest."</font></p>
<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Fund Risks</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The principal risks are presented in alphabetical order to facilitate finding particular risks and comparing them with other funds. Each risk summarized below, including Management Risk, Portfolio Selection Risk, Equity Securities Risk, Emerging Market Risk and Foreign Securities Risk, among others, is considered a "principal risk" of investing in the Fund, regardless of the order in which it appears.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>American Depositary Receipts Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The stocks of most foreign companies that trade in the U.S. markets are traded as ADRs. U.S. depositary banks issue these stocks. Each ADR represents one or more shares of foreign stock or a fraction of a share. The price of an ADR corresponds to the price of the foreign stock in its home market, adjusted to the ratio of the ADRs to foreign company shares. Therefore while purchasing a security on a U.S. exchange, the risks inherently associated with foreign investing still apply to ADRs.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Antitakeover Provisions.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund's Agreement and Declaration of Trust and By-Laws include provisions that could limit the ability of other entities or persons to acquire control of the Fund or to change the composition of its Board of Trustees. Such provisions could limit the ability of shareholders to sell their shares at a premium over prevailing market prices by discouraging a third party from seeking to obtain control of the Fund. These provisions include staggered terms of office for the Trustees, advance notice requirements for shareholder proposals, and super-majority voting requirements for certain transactions with affiliates, converting the Fund to an open-end investment company or a merger, asset sale or similar transaction. Holders of preferred shares have voting rights in addition to and separate from the voting rights of common shareholders with respect to certain of these matters. Holders of any preferred shares, voting separately as a single class, have the right to elect at least two Trustees at all times. See "Description of Securities &#151; Preferred Shares" and "Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions." The holders of preferred shares or debt, if any, on the one hand, and the holders of the common shares, on the other, may have interests that conflict with each other in certain situations, including conflicts that relate to the fees and expenses of the Fund. For more information on potential conflicts of interest between holders of common shares and holders of preferred shares, see "Fund Risks &#151; Leverage Risk." See also "Risk Factors &#151; Fund Risks &#151; Antitakeover Provisions."</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Cash Holdings Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent the Fund holds cash positions, the Fund risks achieving lower returns and potential lost opportunities to participate in market appreciation which could negatively impact the Fund's performance and ability to achieve its investment objective.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>8</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=12,FOLIO='8',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Contingent Liabilities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Entering into derivative contracts in order to pursue the Fund's various hedging strategies could require the Fund to fund cash payments in the future under certain circumstances, including an event of default or other early termination event, or the decision by a counterparty to request margin in the form of securities or other forms of collateral under the terms of the derivative contract or applicable laws. The amounts due with respect to a derivative contract would generally be equal to the unrealized loss of the open positions with the respective counterparty and could also include other fees and charges. These payments are contingent liabilities and therefore may not appear on the Fund's balance sheet. The Fund's ability to fund these contingent liabilities will depend on the liquidity of the Fund's assets and access to capital at the time, and the need to fund these contingent liabilities could adversely impact our financial condition.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Convertible Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The value of a convertible security is influenced by both the yield of non- convertible securities of comparable issuers and by the value of the underlying common stock. The value of a convertible security viewed without regard to its conversion feature (i.e., strictly on the basis of its yield) is sometimes referred to as its "investment value." A convertible security's investment value tends to decline as prevailing interest rate levels increase. Conversely, a convertible security's investment value tends to increase as prevailing interest rate levels decline.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">However, a convertible security's market value tends to reflect the market price of the common stock of the issuing company when that stock price is greater than the convertible security's "conversion price." The conversion price is defined as the predetermined price at which the convertible security could be exchanged for the associated stock. As the market price of the underlying common stock declines, the price of the convertible security tends to be influenced more by the yield of the convertible security and changes in interest rates. Thus, the convertible security may not decline in price to the same extent as the underlying common stock. In the event of a liquidation of the issuing company, holders of convertible securities would be paid before the company's common stockholders. See "Risk Factors &#151; Fund Risks &#151; Convertible Securities Risk."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Counterparty and Settlement Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Trading options, futures contracts, swaps and other derivative financial instruments entails credit risk with respect to the counterparties. Such instruments when traded over the counter do not include the same protections as may apply to trading derivatives on organized exchanges. Substantial losses may arise from the insolvency, bankruptcy or default of a counterparty and risk of settlement default of parties with whom it trades securities. This risk may be heightened during volatile market conditions. Settlement mechanisms in emerging markets are generally less developed and reliable than those in more developed countries, thus increasing the risks. In the past, broker-dealers and other financial institutions have experienced extreme financial difficulty, sometimes resulting in bankruptcy of the institution. Although Calamos monitors the creditworthiness of the Fund's counterparties, there can be no assurance that the Fund's counterparties will not experience similar difficulties, possibly resulting in losses to the Fund. If a counterparty becomes bankrupt, or otherwise fails to perform its obligations under a derivative contract due to financial difficulties, the Fund may experience significant delays in obtaining any recovery under the derivative contract in a bankruptcy or other reorganization proceeding. The Fund may obtain only a limited recovery or may obtain no recovery in such circumstances. Material exposure to a single or small group of counterparties increases the Fund's counterparty risk. See "Risk Factors &#151; Fund Risks &#151; Counterparty and Settlement Risk."</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>"Covenant-Lite" Loans Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Some of the loans in which the Fund may invest may be "covenant-lite" loans, which means the loans contain fewer or no maintenance covenants than other loans and do not include terms which allow the lender to monitor the performance of the borrower and declare a default if certain criteria are breached. The Fund may experience delays in enforcing its rights on its holdings of covenant-lite loans.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Credit Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> An issuer of a fixed income security could be downgraded or default. If the Fund holds securities that have been downgraded, or that default on payment, the Fund's performance could be negatively affected.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>9</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=13,FOLIO='9',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Currency Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent that the Fund invests in securities or other instruments denominated in or indexed to foreign currencies, changes in currency exchange rates bring an added dimension of risk. Currency fluctuations could negatively impact investment gains or add to investment losses. Although the Fund may attempt to hedge against currency risk, the hedging instruments may not always perform as the Fund expects and could produce losses. Suitable hedging instruments may not be available for currencies of emerging market countries. The Fund's investment adviser may determine not to hedge currency risks, even if suitable instruments appear to be available.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Cybersecurity Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investment companies, such as the Fund, and their service providers are exposed to operational and information security risks resulting from cyberattacks, which may result in financial losses to a fund and its shareholders. Cyber-attacks include, among other behaviors, stealing or corrupting data maintained online or digitally, denial of service attacks on websites, "ransomware" that renders systems inoperable until ransom is paid, the unauthorized release of confidential information, or various other forms of cybersecurity breaches. Cyber-attacks affecting the Fund or the Adviser, custodian, transfer agent, distributor, administrator, intermediaries, trading counterparties, and other third-party service providers may adversely impact the Fund or the companies in which the Fund invests, causing the Fund's investments to lose value or to prevent a shareholder redemption or purchase from clearing in a timely manner.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Debt Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in debt securities, including corporate bonds and high yield securities. In addition to the risks described elsewhere in this prospectus (such as high yield securities risk and interest rate risk), debt securities are subject to certain additional risks, including issuer risk and reinvestment risk. Issuer risk is the risk that the value of debt securities may decline for a number of reasons which directly relate to the issuer, such as management performance, leverage and reduced demand for the issuer's goods and services. Reinvestment risk is the risk that income from the Fund's portfolio will decline if the Fund invests the proceeds from matured, traded or called bonds at market interest rates that are below the Fund portfolio's current earnings rate. A decline in income could affect the market price of the Fund's common shares or the overall return of the Fund.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Default Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Default risk refers to the risk that a company that issues a convertible or debt security will be unable to fulfill its obligations to repay principal and interest. The lower a debt security is rated, the greater its default risk. As a result, the Fund may incur cost and delays in enforcing its rights against the defaulting issuer. See "Risk Factors &#151; Fund Risks &#151; Default Risk."</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Derivatives Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Generally, derivatives are financial contracts whose value depends on, or is derived from, the value of an underlying asset, reference rate or index, and may relate to individual debt or equity instruments, interest rates, currencies or currency exchange rates, commodities, related indexes and other assets. The Fund may utilize a variety of derivative instruments including, but not limited to, interest rate swaps, convertible securities, synthetic convertible instruments, options on individual securities, index options, long calls, covered calls, long puts, cash-secured short puts and protective puts for hedging, risk management and investment purposes. The Fund's use of derivative instruments involves investment risks and transaction costs to which the Fund would not be subject absent the use of these instruments and, accordingly, may result in losses greater than if they had not been used. The use of derivative instruments may have risks including, among others, leverage risk, duration mismatch risk, correlation risk, liquidity risk, interest rate risk, volatility risk, credit risk, management risk and counterparty risk. Derivatives also involve the risk of mispricing or improper valuation and the risk that changes in the value of a derivative may not correlate perfectly with an underlying asset, interest rate or index. Suitable derivative transactions may not be available in all circumstances and there can be no assurance that the Fund will engage in these transactions to reduce exposure to other risks when that would be beneficial. Furthermore, the skills needed to employ derivatives strategies are different from those needed to select portfolio securities and, in connection with such strategies, the Fund makes predictions with respect to market conditions, liquidity, currency movements, market values, interest rates and other applicable factors, which may be </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>10</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=14,FOLIO='10',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">inaccurate. Thus, the use of derivative investments may require the Fund to sell or purchase portfolio securities at inopportune times or for prices below or above the current market values, may limit the amount of appreciation the Fund can realize on an investment or may cause the Fund to hold a security that it might otherwise want to sell. Tax rules governing the Fund's transactions in derivative instruments may also affect whether gains and losses recognized by the Fund are treated as ordinary or capital, accelerate the recognition of income or gains to the Fund, defer losses to the Fund, and cause adjustments in the holding periods of the Fund's securities, thereby affecting, among other things, whether capital gains and losses are treated as short-term or long-term. These rules could therefore affect the amount, timing and/or character of distributions to shareholders. In addition, there may be situations in which the Fund elects not to use derivative investments that result in losses greater than if they had been used.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Amounts paid by the Fund as premiums and cash or other assets held in margin accounts with respect to the Fund's derivative instruments would not be available to the Fund for other investment purposes, which may result in lost opportunities for gain.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Derivative instruments can be illiquid, may disproportionately increase losses and may have a potentially large impact on Fund performance. See "Risk Factors &#151; Fund Risks &#151; Derivatives Risk" for a more complete discussion of the risks associated with derivatives transactions.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Duration Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Duration measures the time-weighted expected cash flows of a fixed-income security, which can determine its sensitivity to changes in the general level of interest rates. The value of securities with longer durations tend to be more sensitive to interest rate changes than securities with shorter durations. The longer the Fund's dollar-weighted average duration, the more its value can generally be expected to be sensitive to interest rate changes than a fund with a shorter dollar-weighted average duration. Duration differs from maturity in that it considers a security's coupon payments in addition to the amount of time until the security matures. Various techniques may be used to shorten or lengthen the Fund's duration. As the value of a security changes over time, so will its duration.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Emerging Markets Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Emerging market countries may have relatively unstable governments and economies based on only a few industries, which may cause greater instability. The value of emerging market securities will likely be particularly sensitive to changes in the economies of such countries. These countries are also more likely to experience higher levels of inflation, deflation or currency devaluations, which could adversely affect the value of the Fund's investments and hurt those countries' economies and securities markets. See "Risk Factors &#151; Fund Risks &#151; Emerging Markets Risk."</font></p>


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Equity Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Equity investments are subject to greater fluctuations in market value than other asset classes as a result of such factors as the issuer's business performance, investor perceptions, stock market trends and general economic conditions. Equity securities are subordinated to bonds and other debt instruments in a company's capital structure in terms of priority to corporate income and liquidation payments. The Fund may invest in preferred stocks and convertible securities of any rating, including below investment grade. Below investment grade securities or comparable unrated securities are considered predominantly speculative with respect to the issuer's ability to pay interest and principal and are susceptible to default or decline in market value due to adverse economic and business developments. The market values for below investment grade securities tend to be very volatile, and these securities are generally less liquid than investment grade debt securities. For these reasons, your investment in the Fund is subject to the following specific risks:</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;increased price sensitivity to changing interest rates and to a deteriorating economic environment;</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;greater risk of loss due to default or declining credit quality;</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;adverse company specific events are more likely to render the issuer unable to make interest and/or principal payments; and</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>11</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=15,FOLIO='11',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;if a negative perception of the below investment grade market develops, the price and liquidity of below investment grade securities may be depressed. This negative perception could last for a significant period of time.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Foreign Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investments in non-U.S. issuers may involve unique risks compared to investing in securities of U.S. issuers. These risks are more pronounced to the extent that the Fund invests a significant portion of its non-U.S investments in one region or in the securities of emerging market issuers. See also "&#151; Emerging Markets Risk" below. These risks may include:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;less information may be available about non-U.S. issuers or markets due to less rigorous disclosure or accounting standards or regulatory practices in foreign jurisdictions;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;many non-U.S. markets are smaller, less liquid and more volatile. In a changing market, Calamos may not be able to sell the Fund's portfolio securities at times, in amounts and at prices it considers reasonable;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;an adverse effect of currency exchange rate changes or controls on the value of the Fund's investments;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the economies of non-U.S. countries may grow at slower rates than expected or may experience a downturn or recession;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;economic, political and social developments may adversely affect the securities markets in foreign jurisdictions, including expropriation and nationalization;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the difficulty in obtaining or enforcing a court judgment in non-U.S. countries;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;restrictions on foreign investments in non-U.S. jurisdictions;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;difficulties in effecting the repatriation of capital invested in non-U.S. countries;</font></p>


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;withholding and other non-U.S. taxes may decrease the Fund's return;</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the ability for the Public Company Accounting Oversight Board, which regulates auditors of U.S. public companies, is unable to inspect audit work papers in certain foreign countries;</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;often limited rights and few practical remedies to pursue shareholder claims, including class actions or fraud claims, and the ability of the Commission, the U.S. Department of Justice and other authorities to bring and enforce actions against foreign issuers or foreign persons is limited; and</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;dividend income the Fund receives from foreign securities may not be eligible for the special tax treatment applicable to qualified dividend income.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Based upon the Fund's test for determining whether an issuer is a "foreign issuer" as described above, it is possible that an issuer of securities in which the Fund invests could be organized under the laws of a foreign country, yet still conduct a substantial portion of its business in the U.S. or have substantial assets in the U.S. In this case, such a "foreign issuer" may be subject to the market conditions in the U.S. to a greater extent than it may be subject to the market conditions in the country of its organization. See "Risk Factors &#151; Fund Risks &#151; Foreign Securities Risk." See also " &#151; Non-U.S. Government Obligation Risk."</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Forward Foreign Currency Contract Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Forward foreign currency contracts are contractual agreements to purchase or sell a specified currency at a specified future date (or within a specified time period) at a price set at the time of the contract. The Fund may not fully benefit from, or may lose money on, forward foreign currency transactions if changes in currency exchange rates do not occur as anticipated or do not correspond accurately to changes in the value of the Fund's holdings.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>12</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=16,FOLIO='12',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Geographic Concentration Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investments in a particular country or geographic region may be particularly susceptible to political, diplomatic or economic conditions and regulatory requirements. To the extent the Fund concentrates its investments in a particular country, region or group of regions, the Fund may be more volatile than a more geographically diversified fund.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>High Yield Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in high yield securities of any rating. Investment in high yield securities involves substantial risk of loss. Below investment grade non-convertible debt securities or comparable unrated securities are commonly referred to as "junk bonds" and are considered predominantly speculative with respect to the issuer's ability to pay interest and principal and are susceptible to default or decline in market value due to adverse economic and business developments. The market values for high yield securities tend to be very volatile, and these securities are less liquid than investment grade debt securities. For these reasons, your investment in the Fund is subject to the following specific risks:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;increased price sensitivity to changing interest rates and to a deteriorating economic environment;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;greater risk of loss due to default or declining credit quality;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;adverse company specific events are more likely to render the issuer unable to make interest and/or principal payments; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;if a negative perception of the high yield market develops, the price and liquidity of high yield securities may be depressed. This negative perception could last for a significant period of time.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Adverse changes in economic conditions are more likely to lead to a weakened capacity of a high yield issuer to make principal payments and interest payments than an investment grade issuer. The principal amount of high yield securities outstanding has proliferated in the past decade as an increasing number of issuers have used high yield securities for corporate financing. An economic downturn could severely affect the ability of highly leveraged issuers to service their debt obligations or to repay their obligations upon maturity. The Fund may incur additional expenses to the extent it is required to seek recovery upon a default in payment of principal or interest on its portfolio holdings. In certain circumstances, the Fund may be required to foreclose on an issuer's assets and take possession of its property or operations. In such circumstances, the Fund would incur additional costs in disposing of such assets and potential liabilities from operating any business acquired. </font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The secondary market for high yield securities may not be as liquid as the secondary market for more highly rated securities, a factor which may have an adverse effect on the Fund's ability to dispose of a particular security. There are fewer dealers in the market for high yield securities than for investment grade obligations. The prices quoted by different dealers may vary significantly and the spread between the bid and asked price is generally much larger than for higher quality instruments. Under adverse market or economic conditions, the secondary market for securities could contract further, independent of any specific adverse changes in the condition of a particular issuer, and these instruments may become illiquid. As a result, the Fund could find it more difficult to sell these securities or may be able to sell the securities only at prices lower than if such securities were widely traded. Prices realized upon the sale of such lower rated or unrated securities, under these circumstances, may be less than the prices used in calculating the Fund's net asset value. See "Risk Factors &#151; Fund Risks &#151; High Yield Securities Risk."</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Interest Rate Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> In addition to the risks described above, debt securities, including high yield securities, are subject to certain risks, including:</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;if interest rates go up, the value of debt securities in the Fund's portfolio generally will decline;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;during periods of declining interest rates, the issuer of a security may exercise its option to prepay principal earlier than scheduled, forcing the Fund to reinvest in lower yielding securities. This is known as call or prepayment risk. Debt securities frequently have call features that allow the issuer to </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>13</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=17,FOLIO='13',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">repurchase the security prior to its stated maturity. An issuer may redeem an obligation if the issuer can refinance the debt at a lower cost due to declining interest rates or an improvement in the credit standing of the issuer;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;during periods of rising interest rates, the average life of certain types of securities may be extended because of slower than expected principal payments. This may lock in a below market interest rate, increase the estimated period until the security is paid in full, and reduce the value of the security. This is known as extension risk;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;rising interest rates could result in an increase in the cost of the Fund's leverage and could adversely affect the ability of the Fund to meet asset coverage requirements with respect to leverage;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;variable rate securities generally are less sensitive to interest rate changes but may decline in value if their interest rates do not rise as much, or as quickly, as interest rates in general. When the Fund holds variable rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value ("NAV") of the Fund's shares; and</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the risks associated with rising interest rates may be particularly acute in the current market environment because market interest rates are currently near historically low levels. Thus, the Fund currently faces a heightened level of interest rate risk. To the extent the Federal Reserve Board raises  interest rates, there is a risk that interest rates across the financial system may rise. Increases in volatility and interest rates in the fixed-income market may expose the Fund to heightened interest rate risk.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Many financial instruments use or may use a floating rate based on LIBOR, which is the offered rate for short-term Eurodollar deposits between major international banks. LIBOR is expected to be phased out by the end of 2021. On November 30, 2020, the administrator of LIBOR announced a delay in the phase out of a majority of the U.S. dollar LIBOR publications until June 30, 2023, with the remainder of LIBOR publications to still end at the end of 2021. There remains uncertainty regarding the future utilization of LIBOR and the nature of any replacement rate. As such, the potential effect of a transition away from LIBOR on the Fund or the financial instruments in which the Fund invests can be difficult to ascertain. See "Risk Factors &#151; Fund Risks &#151; Interest Rate Risk."</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Leverage Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund has issued indebtedness and preferred shares and may borrow money or issue debt securities as permitted by the 1940 Act. As of January 31, 2021, the Fund has leverage in the form of borrowings under the SSB Agreement and outstanding MRP Shares. Leverage is the potential for the Fund to participate in gains and losses on an amount that exceeds the Fund's investment. The borrowing of money or issuance of debt securities and preferred shares represents the leveraging of the Fund's common shares. As a non-fundamental policy, the Fund may not issue preferred shares or borrow money and/or issue debt securities with an aggregate liquidation preference and aggregate principal amount exceeding 38% of the Fund's managed assets as measured at the time of borrowing or issuance of the new securities. However, the Board of Trustees reserves the right to issue preferred shares or debt securities or borrow to the extent permitted by the 1940 Act and the Fund's policies. See "Leverage."</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage creates risks which may adversely affect the return for the holders of common shares, including:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the likelihood of greater volatility in the net asset value and market price of the Fund's common shares;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;fluctuations in the dividend rates on any preferred shares borne by the Fund or in interest rates on borrowings and short-term debt;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;increased operating costs, which are effectively borne by common shareholders, may reduce the Fund's total return; and</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>14</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=18,FOLIO='14',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the potential for a decline in the value of an investment acquired with borrowed funds, while the Fund's obligations under such borrowing or preferred shares remain fixed.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, the rights of lenders and the holders of preferred shares and debt securities issued by the Fund will be senior to the rights of the holders of common shares with respect to the payment of dividends or to the payment of assets upon liquidation. Holders of preferred shares have voting rights in addition to and separate from the voting rights of common shareholders. See "Description of Securities &#151; Preferred Shares" and "Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions." The holders of preferred shares or debt, if any, on the one hand, and the holders of the common shares, on the other, may have interests that conflict in certain situations.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage is a speculative technique that could adversely affect the returns to common shareholders. Leverage can cause the Fund to lose money and can magnify the effect of any losses. To the extent the income or capital appreciation derived from securities purchased with funds received from leverage exceeds the cost of leverage, the Fund's return will be greater than if leverage had not been used. Conversely, if the income or capital appreciation from the securities purchased with such funds is not sufficient to cover the cost of leverage or if the Fund incurs capital losses, the return of the Fund will be less than if leverage had not been used, and therefore the amount available for distribution to common shareholders as dividends and other distributions will be reduced or potentially eliminated.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will pay, and common shareholders will effectively bear, any costs and expenses relating to any borrowings and to the issuance and ongoing maintenance of preferred shares or debt securities. Such costs and expenses include the higher management fee resulting from the use of any such leverage, offering and/or issuance costs, and interest and/or dividend expense and ongoing maintenance. These conditions may, directly or indirectly, result in higher leverage costs to common shareholders.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain types of borrowings may result in the Fund being subject to covenants in credit agreements, including those relating to asset coverage, borrowing base and portfolio composition requirements and additional covenants that may affect the Fund's ability to pay dividends and distributions on common shares in certain instances. The Fund may also be required to pledge its assets to the lenders in connection with certain types of borrowings. The Fund may be subject to certain restrictions on investments imposed by guidelines of and covenants with rating agencies which may issue ratings for the preferred shares or short-term debt instruments issued by the Fund. These guidelines and covenants may impose asset coverage or portfolio composition requirements that are more stringent than those imposed by the 1940 Act. The Board reserves the right to change the amount and type of leverage that the Fund uses, and reserves the right to implement changes to the Fund's borrowings that it believes are in the long-term interests of the Fund and its shareholders, even if such changes impose a higher interest rate or other costs or impacts over the intermediate, or short-term time period. There is no guarantee that the Fund will maintain leverage at the current rate, and the Board reserves the right to raise, decrease, or eliminate the Fund's leverage exposure. See "Prospectus Summary &#151; Use of Leverage by the Fund."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Liquidity Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest without limit in securities that, at the time of investment, are illiquid (i.e., any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment). Illiquid securities may be difficult to dispose of at a fair price at the times when the Fund believes it is desirable to do so. Investment of the Fund's assets in illiquid securities may restrict the Fund's ability to take advantage of market opportunities. The market price of illiquid securities generally is more volatile than that of more liquid securities, which may adversely affect the price that the Fund pays for or recovers upon the sale of illiquid securities. Illiquid securities are also more difficult to value and may be fair valued by the Board, in which case Calamos' judgment may play a greater role in the valuation process. The risks associated with illiquid </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>15</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=19,FOLIO='15',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">securities may be particularly acute in situations in which the Fund's operations require cash and could result in the Fund borrowing to meet its short-term needs or incurring losses on the sale of illiquid securities. See "Risk Factors &#151; Fund Risks &#151; Liquidity Risk."</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Loan Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in loans which may not be (i) rated at the time of investment, (ii) registered with the SEC or (iii) listed on a securities exchange. There may not be as much public information available regarding these loans as is available for other Fund investments, such as exchange-listed securities. As well, there may not be an active trading market for some loans, meaning they may be illiquid and more difficult to value than other more liquid securities. Settlement periods for loans are longer than for exchange-traded securities, typically ranging between 1 and 3 weeks, and in some cases much longer. There is no central clearinghouse for loan trades, and the loan market has not established enforceable settlement standards or remedies for failure to settle. Because the interest rates of floating-rate loans in which the Fund may invest may reset frequently, if market interest rates fall, the loans' interest rates will be reset to lower levels, potentially reducing the Fund's income. Because the adviser may wish to invest in the publicly-traded securities of an obligor, the Fund may not have access to material non-public information regarding the obligor to which other investors have access.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Management Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Calamos' judgment about the attractiveness, relative value or potential appreciation of a particular sector, security or investment strategy may prove to be incorrect. See "Risk Factors &#151; Fund Risks &#151; Management Risk."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Disruption Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Certain events have a disruptive effect on the securities markets, such as terrorist attacks, war and other geopolitical events, earthquakes, storms and other disasters. The Fund cannot predict the effects of similar events in the future on the U.S. economy or any foreign economy. See "Risk Factors &#151; Fund Risks &#151; Market Disruption Risk."</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Master Limited Partnerships Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investments in MLPs involve risks that differ from investments in common stock. Holders of MLP common units are subject to certain risks inherent in the structure of MLPs, including (i) tax risks, (ii) risk related to limited control of management or the general partner or managing member, (iii) limited rights to vote on matters affecting the MLP, except with respect to extraordinary transactions, (iv) conflicts of interest between the general partner or managing member and its affiliates, on the one hand, and the limited partners or members, on the other hand, including those arising from incentive distribution payments or corporate opportunities, and (v) cash flow risks. MLP common units and other equity securities can be affected by macro-economic and other factors affecting the stock market in general, expectations of interest rates, investor sentiment towards MLPs or the energy sector, changes in a particular issuer's financial condition, or unfavorable or unanticipated poor performance of a particular issuer (in the case of MLPs, generally measured in terms of distributable cash flow). Prices of common units of individual MLPs and other equity securities also can be affected by fundamentals unique to the partnership or company, including cash flow growth, cash generating power and distribution coverage.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Although certain MLPs may trade on national securities exchanges, certain MLPs may trade less frequently than those of larger companies due to their market capitalizations. Due to limited trading volumes of certain MLPs, the prices of such MLPs may display abrupt or erratic movements at times. Additionally, it may be more difficult for the Fund to buy and sell significant amounts of such securities without an unfavorable impact on prevailing market prices. The Fund's investment in securities that are less actively traded or over time experience decreased trading volume may restrict its ability to dispose of the securities at a fair price. Such a situation may prevent the Fund from limiting losses or realizing gains. This also may adversely affect the Fund's ability to make dividend distributions to shareholders.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MLPs are generally treated as partnerships for U.S. federal income tax purposes. Partnerships do not pay U.S. federal income tax at the partnership level. Rather, each partner is allocated a share of the partnership's </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>16</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=20,FOLIO='16',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">income, gains, losses, deductions and expenses. A change in current tax law, or a change in the business of a given MLP, could result in an MLP being treated as a corporation for U.S. federal income tax purposes. As a result, the amount of cash available for distribution by the MLP would be reduced and the after-tax return to the Fund with respect to its investment in such MLPs would be materially reduced. Thus, if any of the MLPs owned by the Fund were treated as corporations for U.S. federal income tax purposes, it could result in a reduction in the value of the Fund.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Maturity Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Interest rate risk will generally affect the price of a fixed income security more if the security has a longer maturity. Fixed income securities with longer maturities will therefore be more volatile than other fixed income securities with shorter maturities. Conversely, fixed income securities with shorter maturities will be less volatile but generally provide lower potential returns than fixed income securities with longer maturities. The average maturity of the Fund's investments will affect the volatility of the Fund's share price.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Non-Convertible Income Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund will also invest in non-convertible income securities. The Fund's investments in non-convertible income securities may have fixed or variable principal payments and all types of interest rate and dividend payment and reset terms, including fixed rate, adjustable rate, zero coupon, contingent, deferred, payment in kind and auction rate features. Recent events in the fixed-income market may expose the Fund to heightened interest rate risk and volatility. See "Risk Factors &#151; Fund Risks &#151; Non-Convertible Income Securities Risk."</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Non-U.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">S</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>. Government Obligation Risk</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">. An investment in debt obligations of non-U.S. governments and their political subdivisions involves special risks that are not present in corporate debt obligations. The non-U.S. issuer of the sovereign debt or the non-U.S. governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. During periods of economic uncertainty, the market prices of sovereign debt may be more volatile than prices of debt obligations of U.S. issuers. See "Risk Factors &#151; Fund Risks &#151; Non-U.S. Government Obligation Risk."</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Portfolio Selection Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The value of your investment may decrease if the investment adviser's judgment about the attractiveness, value or market trends affecting a particular security, issuer, industry or sector or about market movements is incorrect.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Portfolio Turnover Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The portfolio managers may actively and frequently trade securities or other instruments in the Fund's portfolio to carry out its investment strategies. A high portfolio turnover rate increases transaction costs, which may increase the Fund's expenses. Frequent and active trading may also cause adverse tax consequences for investors in the Fund due to an increase in short-term capital gains.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Recent Market Events.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Since the 2008 financial crises, financial markets throughout the world have experienced periods of increased volatility, depressed valuations, decreased liquidity and heightened uncertainty and turmoil. This turmoil resulted in unusual and extreme volatility in the equity and debt markets, in the prices of individual securities and in the world economy. Events that have contributed to these market conditions include, but are not limited to, major cybersecurity events, geopolitical events (including wars, terror attacks, and public health emergencies), measures to address budget deficits, downgrading of sovereign debt, declines in oil and commodity prices, dramatic changes in currency exchange rates, and public sentiment. In addition, many governments and quasi-governmental entities throughout the world have responded to the turmoil with a variety of significant fiscal and monetary policy changes, including, but not limited to, direct capital infusions into companies, new monetary programs and dramatically lower interest rates.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The recent spread of an infectious respiratory illness caused by a novel strain of coronavirus ("COVID-19") has caused volatility, severe market dislocations and liquidity constraints in many markets, including markets for </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>17</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=21,FOLIO='17',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">the securities the Fund holds, and may adversely affect the Fund's investments and operations. The transmission of this coronavirus and efforts to contain its spread have resulted in travel restrictions and disruptions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, quarantines, event and service cancellations or interruptions, disruptions to business operations (including staff furloughs and reductions) and supply chains, and a reduction in consumer and business spending, as well as general concern and uncertainty that has negatively affected the economy. These disruptions have led to instability in the market place, including equity and debt market losses and overall volatility, and the jobs market. The impact of this coronavirus, and other epidemics and pandemics that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to less established health care systems. Health crises caused by the recent coronavirus outbreak may exacerbate other pre-existing political, social and economic risks in certain countries. The impact of the outbreak may be short term or may last for an extended period of time.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">While the extreme volatility and disruption that U.S. and global markets experienced for an extended period of time beginning in 2007 and 2008 had, until the coronavirus outbreak, generally subsided, uncertainty and periods of volatility still remained, and risks to a robust resumption of growth persist. Federal Reserve policy, including with respect to certain interest rates may adversely affect the value, volatility and liquidity of dividend and interest paying securities. Market volatility, dramatic changes to interest rates and/or a return to unfavorable economic conditions may lower the Fund's performance or impair the Fund's ability to achieve its investment objective.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In June 2016, the United Kingdom approved a referendum to leave the European Union ("EU") ("Brexit"). On March 29, 2017, the United Kingdom formally notified the European Council of its intention to leave the EU and commenced the formal process of withdrawing from the EU. The withdrawal agreement entered into between the United Kingdom and the EU entered into force on January 31, 2020, at which time the United Kingdom ceased to be a member of the EU. Following the withdrawal, there was an eleven-month transition period, ending December 31, 2020, during which the United Kingdom negotiated its future relationship with the EU. On January 1, 2021, the EU UK Trade and Cooperation Agreement, a bilateral trade and cooperation deal governing the future relationship between the UK and the EU, provisionally went into effect. The UK Parliament has already ratified the agreement, and the EU Parliament has until February 28, 2021 to do the same. Brexit has resulted in volatility in European and global markets and could have negative long-term impacts on financial markets in the United Kingdom and throughout Europe. There is considerable uncertainty about the potential consequences for Brexit, how it will be conducted, the EU UK Trade and Cooperation Agreement, how future negotiations of trade relations will proceed, and how the financial markets will react to all of the preceding, and as this process unfolds, markets may be further disrupted. Given the size and importance of the United Kingdom's economy, uncertainty about its legal, political, and economic relationship with the remaining member states of the EU may continue to be a source of instability. Moreover, other countries may seek to withdraw from the European Union and/or abandon the euro, the common currency of the EU.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A number of countries in Europe have suffered terror attacks, and additional attacks may occur in the future. Ukraine has experienced ongoing military conflict; this conflict may expand and military attacks could occur elsewhere in Europe. Europe has also been struggling with mass migration from the Middle East and Africa. The ultimate effects of these events and other socio-political or geographical issues are not known but could profoundly affect global economies and markets.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As a result of political and military actions undertaken by Russia, the U.S. and the EU have instituted sanctions against certain Russian officials and companies. These sanctions and any additional sanctions or other intergovernmental actions that may be undertaken against Russia in the future may result in the devaluation of </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>18</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=22,FOLIO='18',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Russian currency, a downgrade in the country's credit rating, and a decline in the value and liquidity of Russian securities. Such actions could result in a freeze of Russian securities, impairing the ability of a fund to buy, sell, receive, or deliver those securities. Retaliatory action by the Russian government could involve the seizure of US and/or European residents' assets, and any such actions are likely to impair the value and liquidity of such assets. Any or all of these potential results could have an adverse/recessionary effect on Russia's economy. All of these factors could have a negative effect on the performance of funds that have significant exposure to Russia.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, policy and legislative changes in the United States and in other countries are changing many aspects of financial regulation. The impact of these changes on the markets, and the practical implications for market participants, may not be fully known for some time. Widespread disease and virus epidemics<u>, such as the coronavirus outbreak,</u> could likewise be highly disruptive, adversely affecting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Fund's investments. See "Risk Factors &#151; Fund Risks &#151; Recent Market Events."</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>REIT Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investing in real estate investment trusts ("REITs") involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. An equity REIT may be affected by changes in the value of the underlying properties owned by the REIT. A mortgage REIT may be affected by changes in interest rates and the ability of the issuers of its portfolio mortgages to repay their obligations. REITs are dependent upon the skills of their managers and are not diversified.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">REITs are generally dependent upon maintaining cash flows to repay borrowings and to make distributions to shareholders and are subject to the risk of default by lessees or borrowers. REITs whose underlying assets are concentrated in properties used by a particular industry, such as health care, are also subject to risks associated with such industry. REITs (especially mortgage REITs) are also subject to interest rate risks. When interest rates decline, the value of a REIT's investment in fixed rate obligations can be expected to rise. Conversely, when interest rates rise, the value of a REIT's investment in fixed rate obligations can be expected to decline. If the REIT invests in adjustable rate mortgage loans the interest rates on which are reset periodically, yields on a REIT's investments in such loans will gradually align themselves to reflect changes in market interest rates. This causes the value of such investments to fluctuate less dramatically in response to interest rate fluctuations than would investments in fixed rate obligations. REITs may have limited financial resources, may utilize significant amounts of leverage, may trade less frequently and in a limited volume and may be subject to more abrupt or erratic price movements than larger company securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Historically, REITs have been more volatile in price than the larger capitalization stocks included in Standard &amp; Poor's 500 Stock Index. See "Risk Factors &#151; Fund Risks &#151; REIT Risk."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Risks Associated with Options.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> There are several risks associated with transactions in options. For example, there are significant differences between the securities markets and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well-conceived transaction may be unsuccessful to some degree because of market behavior or unexpected events. The Fund's ability to utilize options successfully will depend on Calamos' ability to predict pertinent market movements, which cannot be assured.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may sell options on individual securities and securities indices. All call options sold by the Fund must be "covered." Even though the Fund will receive the option premium to help protect it against loss, a call option sold by the Fund exposes the Fund during the term of the option to possible loss of opportunity to realize appreciation in the market price of the underlying security or instrument and may require the Fund to hold a security or instrument that it might otherwise have sold. In addition, a loss on a call option sold may be greater than the premium received. The Fund may purchase and sell put options on individual securities and securities </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>19</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=23,FOLIO='19',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">indices. In selling put options, there is a risk that the Fund may be required to buy the underlying security at a disadvantageous price above the market price. The Fund may purchase and sell put options on individual securities and securities indices. In selling put options, there is a risk that the Fund may be required to buy the underlying security at a disadvantageous price above the market price. See "Risk Factors &#151; Fund Risks &#151; Risks Associated with Options."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Rule 144A Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in securities that are issued and sold through transactions under Rule 144A of the Securities Act of 1933. Under the supervision and oversight of the Board, Calamos will determine whether Rule 144A Securities are illiquid. If qualified institutional buyers are unwilling to purchase these Rule 144A Securities, the percentage of the Fund's assets invested in illiquid securities would increase. Typically, the Fund purchases Rule 144A Securities only if the Fund's adviser has determined them to be liquid. If any Rule 144A Security held by the Fund should become illiquid, the value of the security may be reduced and a sale of the security may be more difficult.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Sector Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent the Fund invests a significant portion of its assets in a particular sector, a greater portion of the Fund's performance may be affected by the general business and economic conditions affecting that sector. Each sector may share economic risk with the broader market, however there may be economic risks specific to each sector. As a result, returns from those sectors may trail returns from the overall stock market and it is possible that the Fund may underperform the broader market, or experience greater volatility.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Synthetic Convertible Instruments Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The value of a synthetic convertible instrument may respond differently to market fluctuations than a convertible instrument because a synthetic convertible instrument is composed of two or more separate securities, each with its own market value. In addition, if the value of the underlying common stock or the level of the index involved in the convertible component falls below the exercise price of the warrant or option, the warrant or option may lose all value. See "Risk Factors &#151; Fund Risks &#151; Synthetic Convertible Instruments Risk."</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Tax Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in certain securities, such as certain convertible securities and high yield securities, for which the federal income tax treatment may not be clear or may be subject to re-characterization by the Internal Revenue Service ("IRS"). It could be more difficult for the Fund to comply with certain federal income tax requirements applicable to regulated investment companies if the tax characterization of the Fund's investments is not clear or if the tax treatment of the income from such investments was successfully challenged by the IRS. In addition, the tax treatment of the Fund may be affected by future interpretations of the Internal Revenue Code of 1986, as amended (the "Code"), and changes in the tax laws and regulations, all of which may apply with retroactive effect. See "Risk Factors &#151; Fund Risks &#151; Tax Risk" and "Certain Federal Income Tax Matters."</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>U.S. Government Security Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Some securities issued by U.S. Government agencies or government sponsored enterprises are not backed by the full faith and credit of the U.S. and may only be supported by the right of the agency or enterprise to borrow from the U.S. Treasury. There can be no assurance that the U.S. Government will always provide financial support to those agencies or enterprises.</font></p>

<p style="margin:6pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Additional Risks to Common Shareholders</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b><i>Additional risks of investing in common shares include the following:</i></b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Diminished Voting Power and Excess Cash Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The voting power of current shareholders will be diluted to the extent that such shareholders do not purchase shares in any future common share offerings or do not purchase sufficient shares to maintain their percentage interest. In addition, if the Fund is unable to invest the proceeds of such offering as intended, its per share distribution may decrease (or may consist of return of capital) and the </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>20</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=24,FOLIO='20',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Fund may not participate in market advances to the same extent as if such proceeds were fully invested as planned.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Interest Rate Transactions Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may enter into an interest rate swap, cap or floor transaction to attempt to protect itself from increasing dividend or interest expenses on its leverage resulting from increasing short-term interest rates and to hedge its portfolio securities. A decline in interest rates may result in a decline in the value of the swap or cap, which may result in a decline in the net asset value of the Fund. See "Risk Factors &#151; Interest Rate Transactions Risk."</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Discount Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund's common shares have traded both at a premium and at a discount relative to net asset value. Common shares of closed-end investment companies frequently trade at prices lower than their net asset value. Depending on the premium of the Fund's common shares, the Fund's net asset value may be reduced immediately following an offering of the Fund's common shares by the offering expenses paid by the Fund. See "Use of Proceeds."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition to net asset value, the market price of the Fund's common shares may be affected by such factors as the Fund's use of leverage, dividend stability, portfolio credit quality, liquidity, market supply and demand of the common shares and the Fund's dividends paid (which are, in turn, affected by expenses), call protection for portfolio securities and interest rate movements. See "Leverage," "Risk Factors" and "Description of Securities." The Fund's common shares are designed primarily for long-term investors, and you should not purchase common shares if you intend to sell them shortly after purchase.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Whether shareholders will realize a gain or loss upon the sale of the Fund's common shares depends upon whether the market value of the shares at the time of sale is above or below the price the shareholder paid, taking into account transaction costs for the shares, and is not directly dependent upon the Fund's net asset value. Because the market value of the Fund's common shares will be determined by factors such as the relative demand for and supply of the shares in the market, general market conditions and other factors beyond the control of the Fund, the Fund cannot predict whether its common shares will trade at, below or above the Fund's net asset value, or below or above the public offering price for the common shares.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Impact Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The sale of our common shares (or the perception that such sales may occur) may have an adverse effect on prices in the secondary market for our common shares. An increase in the number of common shares available may put downward pressure on the market price for our common shares. These sales also might make it more difficult for us to sell additional equity securities in the future at a time and price the Fund deems appropriate.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Reduction of Leverage Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> We have previously taken, and may in the future take, action to reduce the amount of leverage employed by the Fund. Reduction of the leverage employed by the Fund, including by redemption of preferred shares, will in turn reduce the amount of assets available for investment in portfolio securities. This reduction in leverage may negatively impact our financial performance, including our ability to sustain current levels of distributions on common shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">See "Risk Factors &#151; Additional Risks to Common Shareholders" for a more detailed discussion of these risks.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>21</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=25,FOLIO='21',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Additional Risks to Senior Security Holders</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b><i>Additional risks of investing in senior securities include the following:</i></b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Generally, an investment in preferred shares (including exchange-listed preferred shares) or debt securities (collectively, "senior securities") is subject to the following risks:</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Decline in Net Asset Value Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> A material decline in the Fund's NAV may impair our ability to maintain required levels of asset coverage for outstanding borrowings or any debt securities or preferred shares.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Early Redemption Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may voluntarily redeem preferred shares or may be forced to redeem preferred shares to meet regulatory requirements and the asset coverage requirements of the preferred shares. Such redemptions may be at a time that is unfavorable to holders of the preferred shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Inflation Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Inflation is the reduction in the purchasing power of money resulting from an increase in the price of goods and services. Inflation risk is the risk that the inflation adjusted or "real" value of an investment in preferred stock or debt securities or the income from that investment will be worth less in the future. As inflation occurs, the real value of the preferred stock or debt securities and the dividend payable to holders of preferred stock or interest payable to holders of debt securities declines.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Interest Rate Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Rising market interest rates could impact negatively the value of our investment portfolio, reducing the amount of assets serving as asset coverage for the senior securities. Rising market interest rates could also reduce the value of the Fund's senior securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Discount Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The market price of exchange-listed preferred shares that the Fund may issue may also be affected by such factors as the Fund's use of leverage, dividend stability, portfolio credit quality, liquidity, and the Fund's dividends paid (which are, in turn, affected by expenses), call protection for portfolio securities and interest rate movements.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Ratings and Asset Coverage Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent that senior securities are rated, a rating does not eliminate or necessarily mitigate the risks of investing in our senior securities, and a rating may not fully or accurately reflect all of the credit and market risks associated with that senior security. A rating agency could downgrade the rating of our shares of preferred stock or debt securities, which may make such securities less liquid in the secondary market, though potentially with higher resulting interest rates. If a rating agency downgrades the rating assigned to a senior security, we may alter our portfolio or redeem the senior security. We may voluntarily redeem senior securities under certain circumstances.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Secondary Market Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The market value of exchange-listed preferred shares that the Fund may issue will be determined by factors such as the relative demand for and supply of the preferred shares in the market, general market conditions and other factors beyond the control of the Fund. It may be difficult to predict the trading patterns of preferred shares, including the effective costs of trading. There is a risk that the market for preferred shares may be thinly traded and relatively illiquid compared to the market for other types of securities.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Senior Leverage Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Preferred shares will be junior in liquidation and with respect to distribution rights to debt securities and any other borrowings. Senior securities representing indebtedness may constitute a substantial lien and burden on preferred shares by reason of their prior claim against our income and against our net assets in liquidation. We may not be permitted to declare dividends or other distributions with respect to any series of preferred shares unless at such time we meet applicable asset coverage requirements and the payment of principal or interest is not in default with respect to any borrowings.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">See "Risk Factors &#151; Additional Risks to Senior Security Holders" for a more detailed discussion of these risks.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>22</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=26,FOLIO='22',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="summaryoffundexpenses"></a><b>SUMMARY OF FUND EXPENSES</b></font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table and example contain information about the costs and expenses that common shareholders will bear directly or indirectly. In accordance with Commission requirements, the table below shows our expenses, including interest payments on borrowed funds, and preferred stock dividend payments, as a percentage of our average net assets as of January 31, 2021, and not as a percentage of gross assets or managed assets.</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">By showing expenses as a percentage of average net assets, expenses are not expressed as a percentage of all of the assets we invest. The table and example are based on our capital structure as of January 31, 2021. As of January 31, 2021, the Fund had utilized $372.4 million of the $430 million available under the SSB Agreement ($29.9 million of borrowings outstanding, and $342.5 million in structural leverage consisting of collateral received from SSB in connection with securities on loan), representing 24.2% of the Fund's managed assets as of that date, and had $100 million of MRP Shares outstanding, representing 6.5% of the Fund's managed assets. Combined, the borrowings under the SSB Agreement and the outstanding MRP Shares represented 30.6% of the Fund's managed assets.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="7" width="400" align="left" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Shareholder Transaction Expenses</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Sales Load (as a percentage of offering price)</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="105" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(1)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Offering Expenses Borne by the Fund (as a percentage of <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">offering price)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="105" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(1)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividend Reinvestment Plan Fees (per sales transaction <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">fee)<sup>(2)</sup></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="105" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">15.00</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" align="left" valign="bottom" style="padding:9pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Annual Expenses</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="153" align="center" valign="bottom" style="padding:9pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Percentage of Average Net<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Assets Attributable to<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Common Shareholders</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Management Fee<sup>(3)</sup></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="105" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1.12</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Interest Payments on Borrowed Funds<sup>(4)</sup></font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="105" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0.17</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred Stock Dividend Payments<sup>(5)</sup></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="105" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0.41</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Other Expenses<sup>(6)</sup></font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="105" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0.07</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="247" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Total Annual Expenses</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="105" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1.77</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Example:</b></font></p>


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following example illustrates the expenses that common shareholders would pay on a $1,000 investment in common shares, assuming (1) total annual expenses of 1.77% of net assets attributable to common shareholders; (2) a 5% annual return; and (3) all distributions are reinvested at net asset value:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="219" valign="bottom" style="padding:3pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="66" align="center" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>1 Year</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="69" align="center" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>3 Years</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="69" align="center" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>5 Years</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>10 Years</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="219" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Total Expenses Paid by Common Shareholders<sup>(7)</sup> .</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">18</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">56</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">96</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="44" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">208</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The example should not be considered a representation of future expenses. Actual expenses may be greater or less than those assumed. Moreover, our actual rate of return may be greater or less than the hypothetical 5% return shown in the example.</b></font></p>
<p style="margin:5pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;If the securities to which this prospectus relates are sold to or through underwriters, the prospectus supplement will set forth any applicable sales load and the estimated offering expenses borne by us.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(2)&nbsp;&nbsp;Shareholders will pay a $15.00 transaction fee plus a $0.02 per share brokerage charge if they direct the Plan Agent (as defined below) to sell common shares held in a Plan account. In addition, each participant will pay a pro rata share of brokerage commissions incurred with respect to the Plan Agent's open-market purchases in connection with the reinvestment of dividends or distributions. If a participant elects to have the Plan </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>23</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=27,FOLIO='23',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Agent sell part or all of his or her common shares and remit the proceeds, such participant will be charged his or her pro rata share of brokerage commissions on the shares sold. See "Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan."</font></p>


<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(3)&nbsp;&nbsp;The Fund pays Calamos an annual management fee, payable monthly in arrears, for its investment management services in an amount equal to 0.80% of the Fund's average weekly managed assets. In accordance with the requirements of the Commission, the table above shows the Fund's management fee as a percentage of average net assets attributable to common shareholders. By showing the management fee as a percentage of net assets, the management fee is not expressed as a percentage of all of the assets the Fund intends to invest. For purposes of the table, the management fee has been converted to 1.12% of the Fund's average weekly net assets as of January 31, 2021 by dividing the total dollar amount of the management fee by the Fund's average weekly net assets (managed assets less outstanding leverage).</font></p>



<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(4)&nbsp;&nbsp;Reflects interest expense paid on $49.5 million in average borrowings under the SSB Agreement, plus $262.3 million in additional average structural leverage related to certain securities lending programs, as described under "Leverage."</font></p>

<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(5)&nbsp;&nbsp;Reflects estimated dividend expense on $100 million aggregate liquidation preference of mandatory redeemable preferred shares outstanding. See "Leverage."</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(6)&nbsp;&nbsp;"Other Expenses" are based on estimated amounts for the Fund's current fiscal year.</font></p>


<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(7)&nbsp;&nbsp;The example does not include sales load or estimated offering costs, which would cause the expenses shown in the example to increase. In connection with an offering of common shares, the applicable prospectus supplement will set forth an example including sales load and estimated offering costs.</font></p>

<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The purpose of the table and the example above is to help investors understand the fees and expenses that they, as common shareholders, would bear directly or indirectly. For additional information with respect to our expenses, see "Management of the Fund."</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>24</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=28,FOLIO='24',FILE='21-5399-2.ca.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-2.da-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="financialhighlights"></a><b>FINANCIAL HIGHLIGHTS</b></font></p>


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The information in the table below for the fiscal years ended October 31, 2020, 2019, 2018, 2017 and 2016 is derived from the Fund's financial statements for the fiscal year ended October 31, 2020 audited by Deloitte &amp; Touche LLP, whose report on such financial statements is contained in the Fund's October 31, 2020 Annual Report and is incorporated by reference into the Statement of Additional Information. The information in the table below for the fiscal years ended October 31, 2015, 2014, 2013, 2012 and 2011 is derived from the Fund's financial statements for the fiscal year ended October 31, 2015.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Selected data for a share outstanding throughout each year was as follows:</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="101" valign="bottom" style="padding:6pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2020</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2019</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="81" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2018</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="80" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2017</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2016</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="81" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2015</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="80" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2014</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="80" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2013</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="80" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2012</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="80" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>2011</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="43" width="969" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>PER SHARE OPERATING <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>PERFORMANCE</b></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net asset value, beginning of <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">year</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.64</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.46</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">11.35</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.73</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">11.68</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">13.45</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">13.20</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.45</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.31</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.84</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="43" width="969" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Income from investment <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">operations:</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net investment income <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(loss)*</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.49</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.50</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.57</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.57</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.60</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.62</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.72</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.75</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.81</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.83</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net realized and <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">unrealized gain <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(loss)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">2.37</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.64</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.33</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.19</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.41</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.25</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.67</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.14</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.47</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.23</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Total from investment <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">operations</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">2.86</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.14</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.24</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.76</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.19</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.63</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.39</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.89</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.28</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.60</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="43" width="969" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Less distributions to common <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">shareholders from:</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net investment income</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.44</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.48</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.13</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.67</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.59</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.81</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.95</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.14</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.14</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.84</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net realized gains</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.52</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.31</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.08</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.02</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.19</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Return of capital</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.17</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.39</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.55</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.31</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.30</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Total distributions</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.96</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(0.96</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.13</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.14</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.14</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.14</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.14</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.14</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.144</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(1.14</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net asset value, end of year</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.54</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.64</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.46</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">11.35</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.73</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">11.68</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">13.45</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">13.20</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.45</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.31</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Market value, end of year</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.89</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.67</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">9.91</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">11.59</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">9.89</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.41</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">13.69</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">13.09</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.51</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.09</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="43" width="969" align="left" valign="bottom" style="padding:6pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>TOTAL RETURN <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>APPLICABLE TO <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>COMMON <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>SHAREHOLDERS</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="43" width="969" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Total investment return based <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">on:<sup>(b)</sup></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net asset value</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">29.38</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">11.75</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.81</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">17.48</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">3.19</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(4.69</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">10.90</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">16.08</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">11.05</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">4.92</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Market value</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">12.04</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">18.29</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(5.54</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">30.15</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">6.72</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(16.54</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">13.83</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">14.56</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">13.62</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.08</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="43" width="969" align="left" valign="bottom" style="padding:6pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>RATIOS TO AVERAGE NET <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>ASSETS APPLICABLE <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>TO COMMON <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>SHAREHOLDERS</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net expenses<sup>(c)</sup></font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">2.20</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">2.88</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">2.52</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.88</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.74</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.84</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.47</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.49</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.57</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">1.55</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net investment income <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(loss)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">4.36</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">4.77</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">5.11</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">5.17</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">5.61</font></p>

</td>
<td colspan="1" width="21" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">4.90</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">5.38</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">5.92</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">6.60</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">6.56</font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="43" width="969" bgcolor="#cceeff" align="left" valign="bottom" style="padding:6pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><b>SUPPLEMENTAL DATA</b></font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Net assets applicable to <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">common shareholders, <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">end of year (000)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">889,577</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">754,310</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">741,306</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">797,968</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">750,773</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">817,491</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">931,703</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">891,350</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">840,737</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">827,339</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Portfolio turnover rate</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">76</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">51</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">58</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">90</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">34</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">36</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">40</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">62</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">56</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">44</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Average commission rate <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">paid</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0213</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0188</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0270</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0282</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0220</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0303</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0294</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0295</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0230</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.0222</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Capital charge resulting from <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">issuance of common and <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">preferred shares and <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">related offering costs</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Premiums from shares sold in <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">at the market offerings</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151; </font></p>

</td>
<td colspan="1" width="23" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">0.01</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Mandatory Redeemable <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Preferred Shares, at <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">redemption value ($25 per <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">share liquidation preference) <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">(000</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">'s omitted)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">100,000</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">100,000</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">100,000</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">100,000</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Notes Payable (000's <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">omitted)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">288,400</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">277,400</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">288,000</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">275,000</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">306,000</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">353,000</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">360,000</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">350,000</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">285,000</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">285,000</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Asset coverage per $1,000 of <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">loan outstanding<sup>(d)</sup></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">4,431</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">4,080</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">3,921</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">4,265</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">3,454</font></p>

</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">3,316</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">3,588</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">3,547</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">3,950</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">3,903</font></p>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="101" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Asset coverage per $25 <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">liquidation value per share <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">of Mandatory Redeemable <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">Preferred Shares<sup>(e)</sup></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">319</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">283</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">282</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">293</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="24" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="19" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:7pt;">&#151;</font></p>

</td>
<td colspan="1" width="23" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>25</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=29,FOLIO='25',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">*&nbsp;&nbsp;Net investment income calculated based on average shares method.</font></p>

<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(a)&nbsp;&nbsp;Amount equated to less than $0.005 per common share.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(b)&nbsp;&nbsp;Total investment return is calculated assuming a purchase of common stock on the opening of the first day and a sale on the closing of the last day of the period reported. Dividends and distributions are assumed, for purposes of this calculation, to be reinvested at prices obtained under the Fund's dividend reinvestment plan. Total return is not annualized for periods less than one year. Brokerage commissions are not reflected. NAV per share is determined by dividing the value of the Fund's portfolio securities, cash and other assets, less all liabilities, by the total number of common shares outstanding. The common share market price is the price the market is willing to pay for shares of the Fund at a given time. Common share market price is influenced by a range of factors, including supply and demand and market conditions.</font></p>


<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(c)&nbsp;&nbsp;Ratio of net expenses, excluding interest expense on Notes Payable and interest expense and amortization of offering costs on Mandatory Redeemable Preferred Shares, to average net assets was 1.26%, 1.29%, 1.28%, 1.24%, 1.24%, 1.50%, 1.18%, 1.17%, 1.17%, and 1.19%, respectively.</font></p>

<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(d)&nbsp;&nbsp;Does not reflect the effect of dividend payments to Auction Rate Preferred Shareholders.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(e)&nbsp;&nbsp;Calculated by subtracting the Fund's total liabilities (not including Notes payable and Mandatory Redeemable Preferred Shares) from the Fund's total assets and dividing this by the amount of notes payable outstanding, and by multiplying the result by 1,000.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(f)&nbsp;&nbsp;Calculated by subtracting the Fund's total liabilities (not including Notes payable and Mandatory Redeemable Preferred Shares) from the Fund's total assets and dividing this by the amount of Mandatory Redeemable Preferred Shares outstanding, and by multiplying the result by 25.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table sets forth information regarding the Fund's outstanding bank loans and MRP Shares as of the end of each of the Fund's last ten fiscal years, as applicable. The information in the table shown below comes from the Fund's financial statements for the fiscal year ended October 31, 2020, and each of the prior nine years then ended, all of which have been audited by Deloitte &amp; Touche LLP, the Fund's independent registered public accounting firm.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Fiscal Year Ended</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="95" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Total Amount<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Outstanding</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="83" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Asset<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Coverage</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="94" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Liquidating<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Preference per<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Preferred Share</b><b><sup>(c)</sup></b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="105" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Average<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Market<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Value per<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Preferred Share</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="44" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Type of<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Senior<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Security</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2020</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">288,400,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">4,431</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2020</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">100,000,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">319</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(b)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(d)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="3" width="44" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS</font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2019</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">277,400,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">4,080</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2019</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">100,000,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">283</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(b)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(d)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="3" width="44" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS</font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2018</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">288,000,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3,921</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2018</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">100,000,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">282</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(b)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(d)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="3" width="44" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS</font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2017</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">275,000,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">4,265</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2017</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">100,000,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">293</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(b)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(d)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="3" width="44" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS</font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2016</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">306,000,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3,454</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2015</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">353,000,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3,316</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="3" width="44" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2014</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">360,000,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3,588</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2013</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">350,000,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3,547</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="3" width="44" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2012</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">285,000,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3,950</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2011</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="66" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">285,000,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="48" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3,903</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><sup>(a)</sup></font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="78" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&#151;</font></p>

</td>
<td colspan="1" width="27" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="3" width="44" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loan</font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
</table>



<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(a)&nbsp;&nbsp;Calculated by subtracting the Fund's total liabilities (not including notes payable and MRPS) from the Fund's total assets and dividing this by the amount of notes payable outstanding, and by multiplying the result by 1,000.</font></p>

<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(b)&nbsp;&nbsp;Calculated by subtracting the Fund's total liabilities (not including MRPS) from the Fund's total assets and dividing this by the number of MRPS outstanding, and by multiplying the result by 25. </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>26</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=30,FOLIO='26',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(c)&nbsp;&nbsp;"Liquidating Preference per Preferred Share" means the amount to which a holder of preferred shares would be entitled upon the liquidation of the Fund in preference to common shareholders, expressed as a dollar amount per preferred share.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(d)&nbsp;&nbsp;The MRPS are not listed on any exchange or automated quotation system. The MRPS are considered debt of the issuer; and the liquidation preference approximates fair value.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="marketandnetassetvalueinfo"></a><b>MARKET AND NET ASSET VALUE INFORMATION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our common shares are listed on the Nasdaq Global Select Market ("Nasdaq") under the symbol "CHI." Our common shares commenced trading on the New York Stock Exchange ("NYSE") in June 2002. On July 2, 2012, the common shares ceased trading on the NYSE and commenced trading on Nasdaq.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our common shares have traded both at a premium and a discount to NAV. We cannot predict whether our shares will trade in the future at a premium or discount to NAV. The provisions of the 1940 Act generally require that the public offering price of common shares (less any underwriting commissions and discounts) must equal or exceed the NAV per share of a company's common stock (calculated within 48 hours of pricing). Our issuance of common shares may have an adverse effect on prices in the secondary market for our common shares by increasing the number of common shares available, which may put downward pressure on the market price for our common shares. Shares of common stock of closed-end investment companies frequently trade at a discount from NAV. See "Risk Factors &#151; Additional Risks to Common Shareholders &#151; Market Discount Risk."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table sets forth for each of the periods indicated the high and low closing market prices for our common shares on Nasdaq, the NAV per share and the premium or discount to NAV per share at which our common shares were trading. NAV is shown for the last business day of each quarter. See "Net Asset Value" for information as to the determination of our NAV.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="85" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="7" width="142" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Market Price</b><b><sup>(1)</sup></b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Net Asset<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Value at <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Quarter</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="7" width="160" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Premium/<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>(Discount) <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>to Net Asset <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Value</b><b><sup>(3)</sup></b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Quarter Ended</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>High</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Low</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>End</b><b><sup>(2)</sup></b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>High</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Low</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">January 31, 2019</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.49</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">8.30</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.45</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(2.15</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(12.54</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">April 30, 2019</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.67</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.00</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.90</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(2.11</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(5.39</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">July 31, 2019</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.83</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">9.84</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.95</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1.99</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(4.19</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2019</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.72</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.23</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.64</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1.65</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(2.57</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">January 31, 2020</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">11.33</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.65</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">11.30</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1.48</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(0.84</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">April 30, 2020</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">11.72</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">5.85</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">9.86</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(0.85</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(25.86</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">July 31, 2020</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">11.08</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">8.78</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">12.35</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(10.28</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(8.83</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2020</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">11.95</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.76</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">12.54</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(9.19</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(12.73</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">January 31, 2021</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">14.13</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.97</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p>

</td>
<td colspan="1" width="47" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">15.07</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(9.19</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(12.97</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Source: Bloomberg Financial and Fund Accounting Records.</font></p>
<p style="margin:5pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;Based on high and low closing market price per share during the respective quarter and does not reflect commissions.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(2)&nbsp;&nbsp;Based on the NAV calculated on the close of business on the last business day of each calendar quarter.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(3)&nbsp;&nbsp;Premium and discount information is shown for the days when the Fund experienced its high and low closing market prices, respectively, per share during the respective quarter.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The last reported sale price, NAV per common share and percentage discount to NAV per common share on January 31, 2021 were $13.53, $15.07 and (10.22)%, respectively. As of January 31, 2021, we had 70,923,815 common shares outstanding and managed assets of $1.5 billion.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>27</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=31,FOLIO='27',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="useofproceeds"></a><b>USE OF PROCEEDS</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Subject to the remainder of this section, and unless otherwise specified in a prospectus supplement, we currently intend to invest the net proceeds of any sales of our securities pursuant to this prospectus in accordance with our investment objective and policies as described under "Investment Objective and Principal Investment Strategies" within approximately three months of receipt of such proceeds. Such investments may be delayed if suitable investments are unavailable at the time or for other reasons. Pending such investment, we anticipate that we will invest the proceeds in securities issued by the U.S. government or its agencies or instrumentalities or in high quality, short-term or long-term debt obligations. We may also use proceeds from the sale of our securities to (i) retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies and (ii) for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for these purposes. A delay in the anticipated use of proceeds could lower returns, reduce our distribution to common shareholders and reduce the amount of cash available to make dividend and interest payments on preferred shares and debt securities, respectively.</font></p>

<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="thefund"></a><b>THE FUND</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Convertible Opportunities and Income Fund is a diversified, closed-end management investment company which commenced investment operations in June 2002. The Fund was organized as a statutory trust under the laws of the State of Delaware on April 17, 2002, and has registered under the 1940 Act. On June 28, 2002, the Fund issued an aggregate of 40,000,000 common shares, no par value, in an initial public offering and commenced its operations. On July 12, 2002 and August 13, 2002, the Fund issued an additional 3,000,000 and 225,000 common shares, respectively, in connection with exercises by the underwriters of their over-allotment option. The net proceeds of the initial public offering and subsequent exercises of the over-allotment option were approximately $619,298,400 after the payment of offering expenses. As of January 31, 2019, the Fund had issued an additional 19,077,463 common shares in connection with a continuous, at-the-market offering that commenced in June 2008 and ceased in December 2017 (the "Previous ATM Offering"). The net proceeds of the Previous ATM Offering were $228,615,606. As of January 31, 2021, the Fund had not issued additional common shares in connection with a continuous, at-the-market offering that commenced on March 8, 2019.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As of January 31, 2021, the Fund had utilized $372.4 million of the $430 million available under the SSB Agreement ($29.9 million of borrowings outstanding, and $342.5 million in structural leverage consisting of collateral received from SSB in connection with securities on loan), representing 24.2% of the Fund's managed assets as of that date, and had $100 million of MRP Shares outstanding, representing 6.5% of the Fund's managed assets. Combined, the borrowings under the SSB Agreement and the outstanding MRP Shares represented 30.6% of the Fund's managed assets. Structural leverage refers to borrowings under the SSB Agreement in respect of which the Fund's interest payments are reduced or eliminated by the Fund's securities lending activities. See "Leverage." The Fund's common shares are listed on Nasdaq under the symbol "CHI." The Fund's principal office is located at 2020 Calamos Court, Naperville, Illinois 60563, and its telephone number is 800-582-6959.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table provides information about our outstanding securities as of January 31, 2021:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="82" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Title of Class</b></font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="72" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Amount<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Authorized<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>(shares)</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Amount <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Held by the <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Fund or for <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>its Account</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="77" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Amount <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Outstanding <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>(shares)</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="82" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Common Shares</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="56" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Unlimited</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="57" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="61" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">70,923,815</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="82" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS-Series A</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="56" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,330,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="57" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="61" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,330,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="82" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS-Series B</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="56" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,330,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="57" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="61" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,330,000</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="82" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS-Series C</font></p>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="56" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,340,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="57" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="61" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,340,000</font></p>

</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>28</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=32,FOLIO='28',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="investmentobjectiveandprincipalinvestment"></a><b>INVESTMENT OBJECTIVE AND PRINCIPAL INVESTMENT STRATEGIES</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investment Objective</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's investment objective is to provide total return through a combination of capital appreciation and current income. The Fund's investment objective may be changed by the Board of Trustees without a shareholder vote, although the Fund will give shareholders at least 60 days' written notice of any change to the Fund's investment objective. The Fund makes no assurance that it will realize its objective. An investment in the Fund may be speculative in that it involves a high degree of risk and should not constitute a complete investment program. See "Risk Factors."</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Principal Investment Strategies</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under normal circumstances, the Fund invests at least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities. This is a non-fundamental policy and may be changed by the Board of Trustees of the Fund provided that shareholders are provided with at least 60 days' prior written notice of any change as required by the rules under the 1940 Act. The portion of the Fund's assets invested in convertible securities and non-convertible income securities will vary from time to time consistent with the Fund's investment objective, changes in equity prices and changes in interest rates and other economic and market factors, although, under normal circumstances, the Fund will invest at least 35% of its managed assets in convertible securities. The Fund invests in securities with a broad range of maturities. The average term to maturity of the Fund's securities typically will range from five to ten years.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Convertible Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund is not limited in the percentage of its assets invested in convertible securities, and investment in convertible securities forms an important part of the Fund's principal investment strategies. Under normal circumstances, the Fund will invest at least 35% of its managed assets in convertible securities. A convertible security is a debt security, debenture, note or preferred stock that may be converted into an equity security (typically common stock of the same issuer) at a predetermined price (the "conversion price"). Depending upon the relationship of the conversion price to the market value of the underlying security, a convertible security may trade more like an equity security than a debt instrument. The Fund may invest in convertible securities of any rating.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos typically applies a four-step approach when buying and selling convertible securities for the Fund, which includes:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1.&nbsp;&nbsp;Evaluating the default risk of the convertible security using traditional credit analysis;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">2.&nbsp;&nbsp;Analyzing the convertible's underlying common stock to determine its capital appreciation potential;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3.&nbsp;&nbsp;Assessing the risk/return potential of the convertible security; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">4.&nbsp;&nbsp;Evaluating the convertible security's impact on the overall composition of the Fund and its diversification strategy.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In analyzing the appreciation potential of the underlying common stock and the default risk of the convertible security, Calamos generally considers the issuer's:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;financial soundness;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;ability to make interest and dividend payments;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;earnings and cash-flow forecast; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;quality of management.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Synthetic Convertible Instruments.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in "synthetic" convertible instruments. A synthetic convertible instrument is a financial instrument (or two or more securities held in tandem) that is designed to </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>29</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=33,FOLIO='29',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">simulate the economic characteristics of another instrument (i.e., a convertible security) through the combined economic features of a collection of other securities or assets. Calamos may create a synthetic convertible instrument by combining separate securities that possess the two principal characteristics of a true convertible security, i.e., a fixed-income security ("fixed-income component", which may be a convertible or non-convertible security) and the right to acquire an equity security ("convertible component"). The fixed-income component is achieved by investing in fixed-income securities such as bonds, preferred stocks and money market instruments. The convertible component is achieved by investing in warrants or options to buy common stock at a certain exercise price, or options on a stock index.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may also invest in synthetic convertible instruments created by third parties, typically investment banks. Synthetic convertible instruments created by such parties may be designed to simulate the characteristics of traditional convertible securities or may be designed to alter or emphasize a particular feature. Traditional convertible securities typically offer the opportunity for stable cash flows with the ability to participate in capital appreciation of the underlying common stock. Traditional convertible securities are exercisable at the option of the holder. Synthetic convertible instruments may alter these characteristics by offering enhanced yields in exchange for reduced capital appreciation, additional risk of loss, or any combination of these features. Synthetic convertible instruments may include structured notes, equity-linked notes, mandatory convertibles and combinations of securities and instruments, such as a debt instrument combined with a forward contract. The Fund's holdings of synthetic convertible instruments are considered convertible securities for purposes of the Fund's policy to invest at least 35% of its managed assets in convertible securities and 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Some examples of these securities include the following:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred equity redeemable cumulative stock ("PERCS") are shares that automatically convert into one ordinary share upon maturity. They are usually issued at the prevailing share price, convertible into one ordinary share, with an enhanced dividend yield. PERCS pay a higher dividend than common shares, but the equity appreciation is capped. Above a certain share price, the conversion ratio will fall as the stock rises, capping the appreciation at that level. Below this level, the conversion ratio remains one-for-one, giving the same downside exposure as the ordinary shares, excluding the income difference.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividend enhanced convertible stock ("DECS") are either preference shares or subordinated bonds. These, like PERCS, mandatorily convert into ordinary shares at maturity, if not already converted. DECS give no significant loss protection and involve a risk of loss comparable to investing directly in equity securities, with lower relative direct bond characteristics and interest rate exposure. As with PERCS, some of the appreciation potential is capped and in return, the investor receives an enhanced potential yield. Unlike PERCS, however, the investor's appreciation potential is not capped. Instead, the investor limits its ability to participate in appreciation within a range of prices.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred Redeemable Increased Dividend Equity Security ("PRIDES") are synthetic securities consisting of a forward contract to purchase the issuer's underlying security and an interest bearing deposit. Interest payments are made at regular intervals, and conversion into the underlying security is mandatory at maturity. Similar to convertible securities, PRIDES allow investors the potential to earn stable cash flows while still participating in the appreciation of an underlying stock.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may also purchase convertible structured notes. Convertible structured notes are fixed income debentures linked to equity. Convertible structured notes have the attributes of a convertible security; however, the investment bank that issued the convertible note assumes the credit risk associated with the investment, rather than the issuer of the underlying common stock into which the note is convertible. Different companies may issue the fixed-income and convertible components, which may be purchased separately and at different times. The Fund remains subject to the credit risk of the issuing investment bank.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>30</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=34,FOLIO='30',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain convertible debt securities include a "put option" which entitles the Fund to sell the security to the issuer before maturity at a stated price, which may represent a premium over the stated principal amount of the debt security. Conversely many convertible securities are issued with a "call" feature that allows the security's issuers to choose when to redeem the security.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Non-Convertible Income Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund will also invest in non-convertible income securities. The Fund's investments in non-convertible income securities may have fixed or variable principal payments and all types of interest rate and dividend payment and reset terms, including fixed rate, adjustable rate, zero coupon, contingent, deferred, payment in kind and auction rate features.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>High Yield Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> A substantial portion of the Fund's assets may be invested in below investment grade (high yield, high risk) securities for either current income or capital appreciation or both. These securities are rated Ba or lower by Moody's or BB or lower by Standard &amp; Poor's or are unrated securities of comparable quality as determined by Calamos, the Fund's investment adviser. The Fund may invest in high yield securities of any rating. The Fund may, but currently does not intend to, invest up to 5% of its managed assets in distressed securities that are in default or the issuers of which are in bankruptcy. Non-convertible debt securities rated below investment grade are commonly referred to as "junk bonds" and are considered speculative with respect to the issuer's capacity to pay interest and repay principal. Below investment grade securities involve greater risk of loss, are subject to greater price volatility and are less liquid, especially during periods of economic uncertainty or change, than higher rated securities.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Foreign Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Although the Fund primarily invests in securities of U.S. issuers, the Fund may invest up to 25% of its net assets in securities of foreign issuers in developed and emerging markets, including debt and equity securities of corporate issuers and debt securities of government issuers. A foreign issuer is a foreign government or a company organized under the laws of a foreign country. In analyzing the foreign issuers in which the Fund may invest, Calamos will generally consider a number of factors that may characterize the issuer's economic ties to a particular foreign country or region. Such factors may include any or all of the following: the characteristics of the economy in the principal country or countries in which the issuer sells it goods and/or services; the stability of the currency in the issuer's country of organization; the laws with respect to international trade and property rights in the issuer's country of organization; and the tax, accounting and regulatory requirements of the issuer's country of organization.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Options Writing.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may seek to generate income from option premiums by writing (selling) options. The Fund may write (sell) call options (i) on a portion of the equity securities (including equity securities obtainable by the Fund through the exercise of its rights with respect to convertible securities it owns) in the Fund's portfolio and (ii) on broad-based securities indices (such as the S&amp;P 500 or MSCI EAFE) or certain ETFs (exchange traded funds) that trade like common stocks but seek to replicate such market indices.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, to seek to offset some of the risk of a potential decline in value of certain long positions, the Fund may also purchase put options on individual securities, broad-based securities indices (such as the S&amp;P 500 or MSCI EAFE), or certain ETFs that trade like common stocks but seek to replicate market indices. See " &#151; Options in General" below.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Options in General.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may purchase and sell options on stocks, indices, rates, credit spreads or currencies. A call option, upon payment of a premium, gives the purchaser of the option the right to buy, and the seller the obligation to sell, the underlying security, index or other instrument at the exercise price. A put option gives the purchaser of the option, upon payment of a premium, the right to sell, and the seller the obligation to buy, the underlying security, index, or other instrument at the exercise price.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain options, known as "American style" options, may be exercised at any time during the term of the option. Other options, known as "European style" options, may be exercised only on the expiration date of the option. The Fund expects that substantially all of the options written by the Fund will be American style options.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>31</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=35,FOLIO='31',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund is authorized to purchase and sell exchange listed options and over-the-counter options ("OTC options"). Exchange listed options are issued by a regulated intermediary such as the Options Clearing Corporation ("OCC"), which guarantees the performance of the obligations of the parties to such options. In addition, the Fund may purchase instruments structured by broker-dealers or investment banks that package or possess economic characteristics of options. The discussion below uses the OCC as an example, but is also applicable to other financial intermediaries.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">With certain exceptions, OCC issued and exchange listed options generally settle by physical delivery of the underlying security or currency, although in the future cash settlement may become available. Index options are cash settled for the net amount, if any, by which the option is "in-the-money" (i.e., where the value of the underlying instrument exceeds, in the case of a call option, or is less than, in the case of a put option, the exercise price of the option) at the time the option is exercised. Frequently, rather than taking or making delivery of the underlying instrument through the process of exercising the option, listed options are closed by entering into offsetting purchase or sale transactions that do not result in ownership of the new option.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">OTC options are purchased from or sold to securities dealers, financial institutions or other parties ("Counterparties") through direct bilateral agreement with the Counterparty. In contrast to exchange listed options, which generally have standardized terms and performance mechanics, all the terms of an OTC option, including such terms as method of settlement, term, exercise price, premium, guarantees and security, are set by negotiation of the parties. The Fund may sell OTC options (other than OTC currency options) that are subject to a buy-back provision permitting the Fund to require the Counterparty to sell the option back to the Fund at a formula price within seven days. The Fund expects generally to enter into OTC options that have cash settlement provisions, although it is not required to do so. The staff of the Commission currently takes the position that OTC options purchased by a fund, and portfolio securities "covering" the amount of a fund's obligation pursuant to an OTC option sold by it (or the amount of assets equal to the formula price for the repurchase of the option, if any, less the amount by which the option is in-the-money) are illiquid. OTC options purchased by the Fund and any portfolio securities used to cover obligations pursuant to such options are not considered illiquid by Calamos for the purposes of the Fund's limitation on investments in illiquid securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will write call options and put options only if they are "covered." For example, a call option written by the Fund will require the Fund to hold the securities subject to the call (or securities convertible into those securities without additional consideration) or to segregate cash or liquid assets sufficient to purchase and deliver the securities if the call is exercised. A call option sold by the Fund on an index will require the Fund to own portfolio securities that correlate with the index or to segregate cash or liquid assets equal to the excess of the index value over the exercise price on a current basis. A put option written by the Fund requires the Fund to segregate cash or liquid assets equal to the exercise price.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The principal factors affecting the market value of a put or a call option include supply and demand, interest rates, the current market price of the underlying security or index in relation to the exercise price of the option, the volatility of the underlying security or index, and the time remaining until the expiration date.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Rule 144A Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest without limit in certain securities, such as convertible and debt securities, that are typically purchased in transactions exempt from the registration requirements of the 1933 Act pursuant to Rule 144A under that Act. Rule 144A Securities may only be sold to qualified institutional buyers, such as the Fund. Any resale of these securities must generally be effected through a sale that is registered under the 1933 Act or otherwise exempted or excepted from such registration requirements. Under the supervision and oversight of the Fund's Board of Trustees, Calamos will determine whether Rule 144A Securities are liquid. Typically, the Fund purchases Rule 144A Securities only if Calamos has determined them to be liquid. If any Rule 144A Security held by the Fund should become illiquid, the value of the security may be reduced and a sale of the security may be more difficult.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>32</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=36,FOLIO='32',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Loans.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in loan participations and other direct claims against a borrower. The corporate loans in which the Fund may invest primarily consist of direct obligations of a borrower and may include debtor in possession financings pursuant to Chapter 11 of the U.S. Bankruptcy Code, obligations of a borrower issued in connection with a restructuring pursuant to Chapter 11 of the U.S. Bankruptcy Code, leveraged buy-out loans, leveraged recapitalization loans, receivables purchase facilities, and privately placed notes. The Fund may invest in a corporate loan at origination as a co-lender or by acquiring in the secondary market participations in, assignments of or novations of a corporate loan. By purchasing a participation, the Fund acquires some or all of the interest of a bank or other lending institution in a loan to a corporate or government borrower. The participations typically will result in the Fund having a contractual relationship only with the lender not the borrower. The Fund will have the right to receive payments of principal, interest and any fees to which it is entitled only from the lender selling the participation and only upon receipt by the lender of the payments from the borrower. Many such loans are secured, although some may be unsecured. Such loans may be in default at the time of purchase. Loans that are fully secured offer the Fund more protection than an unsecured loan in the event of non-payment of scheduled interest or principal. However, there is no assurance that the liquidation of collateral from a secured loan would satisfy the corporate borrower's obligation, or that the collateral can be liquidated. Direct debt instruments may involve a risk of loss in case of default or insolvency of the borrower and may offer less legal protection to the Fund in the event of fraud or misrepresentation. In addition, loan participations involve a risk of insolvency of the lending bank or other financial intermediary. The markets in such loans are not regulated by federal securities laws or the Commission.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Preferred Shares.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in preferred stock. The preferred stock in which the Fund typically will invest will be convertible securities. Preferred shares are equity securities, but they have many characteristics of fixed income securities, such as a fixed dividend payment rate and/or a liquidity preference over the issuer's common shares. However, because preferred stocks are equity securities, they may be more susceptible to risks traditionally associated with equity investments than the Fund's fixed income securities.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>REITs.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in securities of REITs, including debt securities they may issue. REITs primarily invest in income-producing real estate or real estate related loans or interests. REITs are generally classified as equity REITs, mortgage REITs or a combination of equity and mortgage REITs. Equity REITs invest the majority of their assets directly in real property and derive income primarily from the collection of rents. Equity REITs can also realize capital gains by selling properties that have appreciated in value. Mortgage REITs invest the majority of their assets in real estate mortgages and derive income from the collection of interest payments. REITs are not taxed on income distributed to shareholders provided they comply with the applicable requirements of the Code. The Fund will indirectly bear its proportionate share of any management and other expenses paid by REITs in which it invests in addition to the expenses paid by the Fund. Debt securities issued by REITs are, for the most part, general and unsecured obligations and are subject to risks associated with REITs.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>U.S. Government Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> U.S. government securities in which the Fund invests include debt obligations of varying maturities issued by the U.S. Treasury or issued or guaranteed by an agency or instrumentality of the U.S. government, including the Federal Housing Administration, Federal Financing Bank, Farmers Home Administration, Export-Import Bank of the United States, Small Business Administration, Government National Mortgage Association ("GNMA"), General Services Administration, Central Bank for Cooperatives, Federal Farm Credit Banks, Federal Home Loan Banks, Federal Home Loan Mortgage Corporation ("FHLMC"), Federal National Mortgage Association ("FNMA"), Maritime Administration, Tennessee Valley Authority, District of Columbia Armory Board, Student Loan Marketing Association, Resolution Fund Corporation and various institutions that previously were or currently are part of the Farm Credit System (which has been undergoing reorganization since 1987). Some U.S. government securities, such as U.S. Treasury bills, Treasury notes and Treasury bonds, which differ only in their interest rates, maturities and times of issuance, are supported by the full faith and credit of the United States. Others are supported only by: (i) the right of the issuer to borrow from the U.S. Treasury, such as securities of the Federal Home Loan Banks; (ii) the discretionary authority of the U.S. government to purchase the agency's obligations, such as securities of the FNMA; or (iii) only the credit of the issuer. No assurance can be given that the U.S. government will provide financial support in the future to </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>33</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=37,FOLIO='33',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">U.S. government agencies, authorities or instrumentalities that are not supported by the full faith and credit of the United States. Securities guaranteed as to principal and interest by the U.S. government, its agencies, authorities or instrumentalities include: (i) securities for which the payment of principal and interest is backed by an irrevocable letter of credit issued by the U.S. government or any of its agencies, authorities or instrumentalities; and (ii) participations in loans made to non-U.S. governments or other entities that are so guaranteed. The secondary market for certain of these participations is limited and, therefore, may be regarded as illiquid.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Zero Coupon Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The securities in which the Fund invests may include zero coupon securities, which are debt obligations that are issued or purchased at a significant discount from face value. The discount may approximate the total amount of interest the security will accrue and compound over the period until maturity or the particular interest payment date at a rate of interest reflecting the market rate of the security at the time of issuance. Zero coupon securities do not require the periodic payment of interest. These investments benefit the issuer by mitigating its need for cash to meet debt service, but generally require a higher rate of return to attract investors who are willing to defer receipt of cash. These investments involve greater interest rate risk and may experience greater volatility in market value than U.S. government securities that make regular payments of interest. The Fund accrues income on these investments for tax and accounting purposes, which is distributable to shareholders and which, because no cash is received at the time of accrual, may require the liquidation of other portfolio securities to satisfy the Fund's distribution obligations or to reduce or eliminate tax at the Fund level, in which case the Fund will forgo the purchase of additional income producing assets with these funds. Zero coupon U.S. government securities include STRIPS and CUBES, which are issued by the U.S. Treasury as component parts of U.S. Treasury bonds and represent scheduled interest and principal payments on the bonds.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Equity Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Consistent with its objective, the Fund may invest in equity securities, including common and preferred stocks, warrants, rights and depository receipts. Equity securities, such as common stock, generally represent an ownership interest in a company. Therefore, the Fund participates in the financial success or failure of any company in which it has an equity interest. Although equity securities have historically generated higher average returns than fixed income securities, equity securities have also experienced significantly more volatility in those returns. An adverse event, such as an unfavorable earnings report, may depress the value of a particular equity security held by the Fund. Also, the price of equity securities, particularly common stocks, are sensitive to general changes in economic conditions and movements in the stock market. A drop in the stock market may depress the price of equity securities held by the Fund. See also " &#151; Preferred Shares" below.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Other Investment Companies.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in the securities of other investment companies to the extent that such investments are consistent with the Fund's investment objective and policies and are permissible under the 1940 Act. Under the 1940 Act, the Fund may not acquire the securities of other domestic or non-U.S. investment companies if, as a result, (1) more than 10% of the Fund's total assets would be invested in securities of other investment companies, (2) such purchase would result in more than 3% of the total outstanding voting securities of any one investment company being held by the Fund, (3) more than 5% of the Fund's total assets would be invested in any one investment company, or (4) such purchase would result in more than 10% of the total outstanding voting securities of a registered closed-end investment company being held by the Fund. These limitations do not apply to, among other things, the purchase of shares of money market funds, of certain related funds or of funds with exemptive relief, or of any investment company in connection with a merger, consolidation, reorganization or acquisition of substantially all the assets of another investment company, or to purchases of investment companies made in accordance with SEC exemptive relief or rule.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund, as a holder of the securities of other investment companies, will bear its pro rata portion of the other investment companies' expenses, including advisory fees. These expenses are in addition to the direct expenses of the Fund's own operations. In addition, the Fund's performance may be magnified positively or negatively by virtue of its investment in other investment companies.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Temporary and Defensive Investments.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under unusual market or economic conditions or for temporary defensive purposes, the Fund may invest in a manner that is inconsistent with its principal investment strategies </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>34</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=38,FOLIO='34',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">described herein. In those situations, the Fund may invest up to 100% of its managed assets in securities issued or guaranteed by the U.S. government or its instrumentalities or agencies, certificates of deposit, bankers' acceptances and other bank obligations, commercial paper rated in the highest category by a nationally recognized statistical rating organization ("NRSRO") or other fixed income securities deemed by Calamos to be consistent with a defensive posture, or may hold cash. The yield on such securities may be lower than the yield on lower rated fixed income securities. During such periods, the Fund may not be able to achieve its investment objective.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Repurchase Agreements.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may enter into repurchase agreements with broker-dealers, member banks of the Federal Reserve System and other financial institutions. Repurchase agreements are arrangements under which the Fund purchases securities and the seller agrees to repurchase the securities within a specific time and at a specific price. The repurchase price is generally higher than the Fund's purchase price, with the difference being income to the Fund. The counterparty's obligations under the repurchase agreement are typically collateralized with U.S. Treasury and/or agency obligations with a market value of not less than 100% of the obligations, valued daily. Collateral is typically held by the Fund's custodian in a segregated, safekeeping account for the benefit of the Fund. Repurchase agreements afford the Fund an opportunity to earn income on temporarily available cash. In the event of commencement of bankruptcy or insolvency proceedings with respect to the issuer of the repurchase agreement before repurchase of the security under a repurchase agreement, the Fund may encounter losses and delay and incur costs before being able to sell the security. Such a delay may involve loss of interest or a decline in price of the security. If the court characterizes the transaction as a loan and the Fund has not perfected a security interest in the security, the Fund may be required to return the security to the seller's estate and be treated as an unsecured creditor of the seller. As an unsecured creditor, the Fund would be at risk of losing some or all of the principal and interest involved in the transaction.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Lending of Portfolio Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund has authorized SSB as securities lending agent to lend securities to registered broker-dealers or other institutional investors deemed by Calamos to be of good standing under agreements which require that the loans be secured continuously by collateral received in cash under the SSB Agreement. Cash collateral held by SSB on behalf of the Fund may be credited against the amounts borrowed under the SSB Agreement, such that the Fund will effectively bear lower interest expense with respect to those borrowed amounts. Any amounts credited against borrowings under the SSB Agreement would count against the Fund's leverage limitations, unless otherwise covered in accordance with SEC Release IC-10666. Under the terms of the SSB Agreement, SSB will return the value of the collateral to the borrower at the termination of the selected securities loan(s), which will eliminate the credit against the borrowings under the SSB Agreement and will increase the balance on which the Fund will pay interest. Under the terms of the SSB Agreement, the Fund will make a variable "net income" payment related to any collateral credited against the borrowings under the SSB Agreement which will be paid to the securities borrower, less any payments due to the Fund or SSB under the terms of the SSB Agreement. The Fund does not use affiliated agents in managing its lending program. The Fund continues to be entitled to receive the equivalent of the interest or dividends paid by the issuer on the securities loaned as well as the benefit of an increase and the detriment of any decrease in the market value of the securities loaned and would also receive compensation based on investment of the collateral, but bears the risk of loss on any collateral so invested. The Fund would not, however, have the right to vote any securities having voting rights during the existence of the loan, but could seek to call the loan in anticipation of an important vote to be taken among holders of the securities or of the giving or withholding of consent on a material matter affecting the investment.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As with other extensions of credit, there are risks of delay in recovery or even loss of rights in the collateral should the borrower of the securities fail financially. The Fund remains liable for the return of the pledged collateral or cash of an equivalent value. At no time would the value of the securities loaned exceed 33 1/3% of the value of the Fund's managed assets. See "Description of Securities" for more information on lending of portfolio securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Portfolio Turnover.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Although the Fund does not purchase securities with a view to rapid turnover, there are no limitations on the length of time that portfolio securities must be held. Portfolio turnover can occur for a number of reasons, including calls for redemption, general conditions in the securities markets, more favorable </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>35</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=39,FOLIO='35',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">investment opportunities in other securities, or other factors relating to the desirability of holding or changing a portfolio investment. The portfolio turnover rates may vary greatly from year to year. A high rate of portfolio turnover in the Fund would result in increased transaction expense, which must be borne by the Fund. High portfolio turnover may also result in the realization of capital gains or losses and, to the extent net short-term capital gains are realized, any distributions resulting from such gains will be considered ordinary income for federal income tax purposes.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Fundamental Investment Restrictions.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> As more fully described in the Fund's statement of additional information, under the Fund's fundamental investment restrictions, the Fund may not: (1) issue senior securities, except as permitted by the 1940 Act and the rules and interpretive positions of the Commission thereunder; (2) borrow money, except as permitted by the 1940 Act and the rules and interpretive positions of the Commission thereunder; (3) invest in real estate, except that the Fund may invest in securities of issuers that invest in real estate or interests therein, securities that are secured by real estate or interests therein, securities of real estate investment funds and mortgage-backed securities; (4) make loans, except by the purchase of debt obligations, by entering into repurchase agreements or through the lending of portfolio securities and as otherwise permitted by the 1940 Act and the rules and interpretive positions of the Commission thereunder; (5) invest in physical commodities or contracts relating to physical commodities; (6) act as an underwriter, except as it may be deemed to be an underwriter in a sale of securities held in its portfolio; (7) make any investment inconsistent with the Fund's classification as a diversified investment company under the 1940 Act and the rules and interpretive positions of the Commission thereunder; and (8) concentrate its investments in securities of companies in any particular industry as defined in the 1940 Act and the rules and interpretive positions of the Commission thereunder. This description of the Fund's fundamental investment restrictions is a summary only and to the extent it differs from the discussion of fundamental investment restrictions contained in the Fund's statement of additional information, the description in the statement of additional information controls.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">These restrictions may not be changed without the approval of the holders of a majority of the Fund's outstanding voting securities. All other investment policies of the Fund are considered non-fundamental and may be changed by the Board of Trustees without prior approval of the Fund's outstanding voting shares, although the Fund will give shareholders at least 60 days' notice of any changes to the Fund's investment objective. See "Investment Restrictions" on page S-23 of the Fund's statement of additional information.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Conflicts of Interest</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Conflicts of interest may arise from the fact that Calamos and its affiliates carry on substantial investment activities for other clients, in which the Fund does not have an interest, some of which may have investment strategies similar to those of the Fund. Calamos or its affiliates may have financial incentives to favor certain of these accounts over the Fund. Any of their proprietary accounts or other customer accounts may compete with the Fund for specific trades. Calamos or its affiliates may give advice and recommend securities to, or buy or sell securities for, other accounts and customers, which advice or securities recommended may differ from advice given to, or securities recommended or bought or sold for, the Fund, even though their investment objectives may be the same as, or similar to, the Fund's investment objective. When two or more clients advised by Calamos or its affiliates seek to purchase or sell the same publicly traded securities, the securities actually purchased or sold will be allocated among the clients on a good faith equitable basis by Calamos in its discretion and in accordance with the clients' various investment objectives and Calamos' procedures. In some cases, this system may adversely affect the price or size of the position the Fund may obtain or sell. In other cases, the Fund's ability to participate in volume transactions may produce better execution for the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos will evaluate a variety of factors in determining whether a particular investment opportunity or strategy is appropriate and feasible for a particular entity or account at a particular time, including, but not limited to, the following: (1) the nature of the investment opportunity taken in the context of the other investments available at the time; (2) the liquidity of the investment relative to the needs of the particular entity or account; (3) the availability of the opportunity (i.e., size of obtainable position); (4) the transaction costs involved; and (5) the investment or regulatory limitations applicable to the particular entity or account. Because these </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>36</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=40,FOLIO='36',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">considerations may differ when applied to the Fund and relevant accounts under management in the context of any particular investment opportunity, the Fund's investment activities, on the one hand, and other managed accounts, on the other hand, may differ considerably from time to time. In addition, the Fund's fees and expenses will differ from those of the other managed accounts. Accordingly, investors should be aware that the Fund's future performance and future performance of other accounts of Calamos may vary.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Situations may occur when the Fund could be disadvantaged because of the investment activities conducted by Calamos and its affiliates for their other accounts. Such situations may be based on, among other things, the following: (1) legal or internal restrictions on the combined size of positions that may be taken for the Fund or the other accounts, thereby limiting the size of the Fund's position; (2) the difficulty of liquidating an investment for the Fund or the other accounts where the market cannot absorb the sale of the combined position; or (3) limits on co-investing in negotiated transactions under the 1940 Act.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos and its principals, officers, employees, and affiliates may buy and sell securities or other investments for their own accounts and may have actual or potential conflicts of interest with respect to investments made on the Fund's behalf. As a result of differing trading and investment strategies or constraints, positions may be taken by principals, officers, employees, and affiliates of Calamos that are the same as, different from, or made at a different time than positions taken for the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos' investment management fee is a percentage of the Fund's managed assets, and Calamos' investment management fee will be higher if the Fund sells additional common shares or employs leverage. Accordingly, Calamos will benefit from the sale of additional common shares, preferred shares, or debt securities and may have an incentive to be more aggressive with respect to the use of leverage by the Fund.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="leverage"></a><b>LEVERAGE</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may issue preferred shares or debt securities or borrow to increase its assets available for investment. As of January 31, 2021, the Fund had $29.9 million in borrowings outstanding under the SSB Agreement, MRP Shares outstanding with an aggregate liquidation preference of $100 million and used approximately $342.5 million of collateral obtained through securities lending arrangements as an offset against borrowings under the SSB Agreement, for a total of $472.4 million of leverage representing 30.6% of managed assets as of that date. The SSB Agreement provides for additional credit availability for the Fund, such that it may borrow up to $430 million. Additional information regarding the Fund's preferred shares is included below under "Mandatory Redeemable Preferred Shares."</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As a non-fundamental policy, the Fund may not issue preferred shares, borrow money and/or issue debt securities with an aggregate liquidation preference and aggregate principal amount exceeding 38% of the Fund's managed assets measured at the time of borrowing or issuance of the new securities. However, the Board of Trustees reserves the right to issue preferred shares or debt securities or borrow to the extent permitted by the 1940 Act or under any order issued by the SEC.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The holders of preferred shares will be entitled to receive a preferential liquidating distribution, which is expected to equal the original purchase price per preferred share plus accumulated and unpaid dividends, whether or not declared, before any distribution of assets is made to holders of common shares. The 1940 Act requires that the holders of any preferred shares, voting separately as a single class, have the right to elect at least two Trustees at all times. The remaining Trustees will be elected by holders of common shares and preferred shares, voting together as a single class. The holders of any preferred shares have the right to elect a majority of the Trustees at any time two years' accumulated dividends on any preferred shares are unpaid.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund also may borrow money as a temporary measure for extraordinary or emergency purposes, including the payment of dividends and the settlement of securities transactions, which otherwise might require </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>37</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=41,FOLIO='37',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">untimely dispositions of the Fund's holdings. When the Fund leverages its assets, the fees paid to Calamos for investment management services will be higher than if the Fund did not leverage because Calamos' fees are calculated based on the Fund's managed assets, which include the proceeds of the issuance of preferred shares or debt securities or any outstanding borrowings. Consequently, the Fund and Calamos may have differing interests in determining whether to leverage the Fund's assets. The Fund's Board of Trustees monitors any such potential conflicts of interest on an ongoing basis.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's use of leverage is premised upon the expectation that the Fund's leverage costs will be lower than the return the Fund achieves on its investments with the leverage proceeds. Such difference in return may result from the Fund's higher credit rating or the short-term nature of its borrowing compared to the lower credit quality, long-term nature of its investments. Because Calamos seeks to invest the Fund's managed assets (including the assets obtained from leverage) in a portfolio of potentially higher yielding investments or portfolio investments with the potential for capital appreciation, the holders of common shares will be the beneficiaries of any incremental return but will bear the risk of loss on investments made with the leverage proceeds. Should the differential between the Fund's return on its investments made with the proceeds of leverage and the cost of the leverage narrow, the incremental return "pick up" will be reduced or the Fund may incur losses. If long-term interest rates rise without a corresponding increase in the yield on the Fund's portfolio investments or the Fund otherwise incurs losses on its investments, the Fund's net asset value attributable to its common shares will reflect the decline in the value of portfolio holdings resulting therefrom.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage creates risks which may adversely affect the return for the holders of common shares, including:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the likelihood of greater volatility in the net asset value and market price of common shares;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;fluctuations in the dividend rates on any preferred shares borne by the Fund or in interest rates on borrowings and short-term debt;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;increased operating costs, which are effectively borne by common shareholders, may reduce the Fund's total return; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the potential for a decline in the value of an investment acquired with borrowed funds, while the Fund's obligations under such borrowing remains fixed.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage is a speculative technique that could adversely affect the returns to common shareholders. Leverage can cause the Fund to lose money and can magnify the effect of any losses. To the extent the income or capital appreciation derived from securities purchased with funds received from leverage exceeds the cost of leverage, the Fund's return will be greater than if leverage had not been used. Conversely, if the income or capital appreciation from the securities purchased with such funds is not sufficient to cover the cost of leverage or if the Fund incurs capital losses, the return of the Fund will be less than if leverage had not been used, and therefore the amount available for distribution to common shareholders as dividends and other distributions will be reduced or potentially eliminated (or, in the case of distributions, will consist of return of capital).</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos may determine to maintain the Fund's leveraged position if it expects that the long-term benefits to the Fund's common shareholders of maintaining the leveraged position will outweigh the current reduced return. Capital raised through the issuance of preferred shares or debt securities or borrowing will be subject to dividend payments or interest costs that may or may not exceed the income and appreciation on the assets purchased. The issuance of preferred shares or debt or borrowing money may involve offering expenses and other costs and may limit the Fund's freedom to pay dividends on common shares or to engage in other activities. See "Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan &#151; Dividends and Distributions on Common Shares." The Fund also may be required to maintain minimum average balances in connection with borrowings or to pay a commitment or other fee to maintain a line of credit; either of these requirements would increase the cost of borrowing over the stated interest rate. The Fund will pay (and common shareholders will bear) any costs and expenses relating to any borrowings by the Fund, including the financial leverage described above, as well as any additional leverage incurred as a result of this offering and to the issuance and ongoing </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>38</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=42,FOLIO='38',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">maintenance of preferred shares or debt securities (for example, the higher management fee resulting from the use of any such leverage, and interest and/or dividend expense and ongoing maintenance). Net asset value will be reduced immediately following any additional offering of preferred shares or debt securities by the costs of that offering paid by the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Board reserves the right to change the amount and type of leverage that the Fund uses, and reserves the right to implement changes to the Fund's borrowings that it believes are in the long-term interests of the Fund and its shareholders, even if such changes impose a higher interest rate or other costs or impacts over the intermediate, or short-term time period. There is no guarantee that the Fund will maintain leverage at the current rate, and the Board reserves the right to raise, decrease, or eliminate the Fund's leverage exposure.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the 1940 Act, the Fund is not permitted to issue preferred shares unless immediately after such issuance the Fund has an asset coverage of at least 200% of the liquidation value of the aggregate amount of outstanding preferred shares (i.e., such liquidation value may not exceed 50% of the value of the Fund's total assets). Under the 1940 Act, the Fund may only issue one class of senior securities representing equity. So long as preferred shares are outstanding, additional senior equity securities must rank on a parity with the preferred shares. In addition, the Fund is not permitted to declare any cash dividend or other distribution on its common shares unless, at the time of such declaration, the net asset value of the Fund's portfolio (determined after deducting the amount of such dividend or distribution) is at least 200% of such liquidation value. Under the 1940 Act, the Fund is not permitted to incur indebtedness unless immediately after such borrowing the Fund has an asset coverage of at least 300% of the aggregate outstanding principal balance of indebtedness (i.e., such indebtedness may not exceed 33 1/3% of the value of the Fund's total assets). Under the 1940 Act, the Fund may only issue one class of senior securities representing indebtedness other than promissory notes or other evidences of indebtedness not intended to be publicly distributed. Additionally, under the 1940 Act, the Fund generally may not declare any dividend or other distribution upon any class of its shares, or purchase any such shares, unless the aggregate indebtedness of the Fund has, at the time of the declaration of any such dividend or distribution or at the time of any such purchase, an asset coverage of at least 300% after deducting the amount of such dividend, distribution, or purchase price, as the case may be, except that dividends may be declared upon any preferred shares if such indebtedness has an asset coverage of at least 200% at the time of declaration thereof after deducting the amount of the dividend. This limitation does not apply to certain privately placed debt. In general, the Fund may declare dividends on preferred shares as long as there is asset coverage of 200% after deducting the amount of the dividend. The holders of preferred shares or debt, if any, on the one hand, and the holders of the common shares, on the other, may have interests that conflict with each other in certain situations. See "Description of Securities &#151; Preferred Shares" and "Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may be subject to certain restrictions on investments imposed by guidelines of and covenants with one or more rating agencies, which may issue ratings for any debt securities or preferred shares issued by the Fund in the future. These guidelines and covenants may impose asset coverage and portfolio composition requirements that are more stringent than those imposed by the 1940 Act. Certain types of borrowings may result in the Fund being subject to covenants in credit agreements, including those relating to asset coverage, borrowing base and portfolio composition requirements and additional covenants that may affect the Fund's ability to pay dividends and distributions on common shares in certain instances. The Fund also may be required to pledge its assets to the lenders in connection with certain types of borrowings. Certain types of borrowing may involve the rehypothecation of the Fund's securities. Calamos does not anticipate that these covenants or restrictions would adversely affect its ability to manage the Fund's portfolio in accordance with the Fund's investment objective and policies. Due to these covenants or restrictions, the Fund may be forced to liquidate investments at times and at prices that are not favorable to the Fund, or the Fund may be forced to forgo investments that Calamos otherwise views as favorable.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The extent to which the Fund employs leverage will depend on many factors, the most important of which are investment outlook, market conditions and interest rates. Successful use of a leveraging strategy depends on </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>39</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=43,FOLIO='39',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos' ability to predict correctly interest rates and market movements. There is no assurance that a leveraging strategy will be successful during any period in which it is employed.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Mandatory Redeemable Preferred Shares</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">On September 6, 2017, the Fund completed a private placement of 1,330,000 Series A MRP Shares, 1,330,000 Series B MRP Shares and 1,340,000 Series C MRP Shares. Each MRP Share has a liquidation preference of $25.00, resulting in an aggregate liquidation preference of $100 million for all MRP Shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The holders of MRP Shares for the Fund ("MRP Shareholders") are entitled to receive monthly cash dividends, payable on the first business day (a "Dividend Payment Date") of each month following issuance.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Subject to adjustment as described below under "MRP Shares Dividends," the dividend rate per annum (the "Applicable Rate") for each series of MRP Shares is as follows:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="102" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>MRP Shares</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Applicable Rate</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="102" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Series A MRP Shares</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">3.70</font></p></td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="102" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Series B MRP Shares</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="70" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">4.00</font></p></td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="102" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Series C MRP Shares</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">4.24</font></p></td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The MRP Shares have a term redemption date of September 6, 2022 for the Series A MRP Shares, September 6, 2024 for the Series B MRP Shares and September 6, 2027 for the Series C MRP Shares.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Previously, the MRP Shares had been assigned a rating of "AA" by Fitch Ratings, Inc. ("Fitch"). As of December 17, 2020, Kroll Bond Rating Agency LLC ("Kroll") replaced Fitch as the rating agency for the MRPS. The MRPS have been assigned a rating of 'AA-' by Kroll.  If the ratings of the MRP Shares are downgraded, the Fund's dividend expense may increase, as described below.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Liquidation Preference.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Fund, the MRP Shareholders will be entitled to receive a preferential liquidating distribution equal to $25.00 per MRP Share plus accrued and unpaid dividends, after satisfaction of claims of creditors of the Fund, but before any distribution of assets is made to common shareholders.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>MRP Shares Dividends.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> If, on the first day of the monthly dividend period immediately preceding a Dividend Payment Date (each such period a "Dividend Period"), a series of MRP Shares is rated no less than "A" by Fitch (and no less than the equivalent of such rating by some other NRSRO, if any, other than Fitch, such as Kroll, providing a rating for the MRP Shares pursuant to the request of the Fund), then the dividend rate for such period (the "Dividend Rate") will be equal to the Applicable Rate for such series. If, on the first day of a Dividend Period, the credit rating assigned on any date to a series of MRP Shares by Fitch (or some other NRSRO then rating any series of the outstanding MRP Shares pursuant to the request of the Fund, such as Kroll) is lower than a rating of "A" by Fitch (or lower than the equivalent of such rating by such other rating agency), the Dividend Rate applicable to such series of outstanding MRP Shares for such Dividend Period shall be the Applicable Rate plus the enhanced dividend amount (which shall not be cumulative) set opposite the lowest of such ratings in the table below:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="92" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Fitch Rating</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="117" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Enhanced Dividend <BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Amount</b></font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="92" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">"A-"</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="85" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0.5</font></p></td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="92" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">"BBB+" to "BBB-"</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="85" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">2.0</font></p></td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="92" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">"BB+" or below</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="85" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">4.0</font></p></td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>40</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=44,FOLIO='40',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A 4.0% premium in addition to the Applicable Rate may apply when the Fund fails to maintain a current credit rating, and a 5.0% premium may apply when the Fund fails to make timely payments with regard to the MRP Shares (subject to cure periods in each case).</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Limitation on Common Share Distributions.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> So long as any MRP Shares are outstanding, the Fund will not declare, pay or set apart for payment any dividend or other distribution (other than non-cash distributions) with respect to Fund shares ranking junior to or on parity with the MRP Shares, unless (1) the Fund has satisfied the MRP Shares Overcollateralization Test (as defined below) on at least one "valuation date" in the preceding 65 calendar days, (2) immediately after such transaction the Fund would satisfy the MRP Shares Asset Coverage Test (as defined below), (3) full cumulative dividends on the MRP Shares due on or prior to the date of the transaction have been declared and paid to the MRP Shareholders and (4) the Fund has redeemed the full number of MRP Shares required to be redeemed by any provision for mandatory redemption or deposited sufficient monies with the Fund's paying agent for that purpose, subject to certain grace periods and exceptions.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><u>MRP Shares Asset Coverage Test</u>: Asset coverage with respect to all outstanding senior securities and preferred shares, including the MRP Shares, determined in accordance with Section 18(h) of the 1940 Act, on the basis of values calculated as of a time within 48 hours (not including Sundays or holidays) next preceding the time of determination, must be greater than or equal to 225%.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><u>MRP Shares Overcollateralization Test</u>: So long as Fitch or any other NRSRO, such as Kroll, is then rating any class of the outstanding MRP Shares pursuant to the request of the Fund, satisfaction of only those overcollateralization ratios applicable to closed-end fund issuers with the same rating(s) as the Fund's MRP Shares' then-current rating(s) issued by Fitch or such other NRSRO, such as Kroll, by application of the applicable rating agency guidelines.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The terms of the MRP Shares and rights and preferences of the MRP Shareholders are set forth in the Statement of Preferences of Series A Mandatory Redeemable Preferred Shares, Series B Mandatory Redeemable Preferred Shares and Series C Mandatory Redeemable Preferred Shares of the Fund (the "Statement of Preferences").</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Redemption.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The terms of the MRP Shares provide that: (i) the Fund may redeem the MRP Shares at its option at the liquidation preference plus accrued and unpaid dividends and plus a make-whole premium, subject to notice and other requirements; (ii) the Fund is required to redeem the MRP Shares upon failure to satisfy the MRP Shares Asset Coverage Test (tested monthly) or MRP Shares Overcollateralization Test (tested weekly), subject to cure periods; and (iii) the Fund is required to redeem the MRP Shares on the term redemption date of September 6, 2022 for the Series A MRP Shares, September 6, 2024 for the Series B MRP Shares and September 6, 2027 for the Series C MRP Shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Voting Rights.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Except as otherwise required in the prospectus, the governing documents of the Fund, or as otherwise required by applicable law, the Fund's preferred shareholders, including the MRP Shareholders, have one vote per share and vote together with the Fund's common shareholders as a single class. The 1940 Act grants the holders of preferred stock the right to elect at least two Trustees at all times (the "Preferred Share Trustees") and the remaining Trustees will be elected by the holders of common stock and preferred stock voting as a single class. Except during any time when the Fund has failed to make a dividend or redemption payment in respect of MRP Shares outstanding, the MRP Shareholders have agreed to vote in accordance with the recommendation of the Board of Trustees on any matter submitted to them for their vote or to the vote of shareholders of the Fund generally.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">With respect to the MRP Shares, William R. Rybak and Virginia G. Breen were designated by the Board of Trustees as the Preferred Share Trustees of the Fund. As of January 1, 2021, there were five other Trustees of the Fund, Ms. Stuckey and Messrs. Calamos, Neal, Toub and Wennlund. See "Management of the Fund" in the Fund's statement of additional information. The Fund's preferred shareholders, including the MRP Shareholders, </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>41</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=45,FOLIO='41',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">are entitled to elect a majority of the Trustees of the Fund during any period when (i) at least two years' accumulated dividends on the preferred stock are due and unpaid or (ii) the preferred shares are otherwise entitled under the 1940 Act to elect a majority of the Trustees of the Fund. The MRP Shareholders have certain additional customary voting rights pursuant to the MRP Shares governing documents and the 1940 Act.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The summary information regarding the MRP Shares contained herein is qualified in its entirety by reference to the Statement of Preferences and other documents related to the terms and conditions and the offering of the MRP Shares.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Effects of Leverage</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The SSB Agreement provides for credit availability for the Fund, such that it may borrow up to $430 million. As of January 31, 2021, the Fund had utilized $372.4 million of the $430 million available under the SSB Agreement ($29.9 million of borrowings outstanding, and $342.5 million in structural leverage consisting of collateral received from SSB in connection with securities on loan), representing 24.2% of the Fund's managed assets as of that date, and had $100 million of MRP Shares outstanding, representing 6.5% of the Fund's managed assets. Combined, the borrowings under the SSB Agreement and the outstanding MRP Shares represented 30.6% of the Fund's managed assets. Interest on the SSB Agreement is charged on the drawn amount at the rate of Overnight LIBOR plus 0.80%, payable monthly in arrears. Interest on overdue amounts or interest on the drawn amount paid during an event of default will be charged at Overnight LIBOR plus 2.80%. These rates represent floating rates of interest that may change over time. The SSB Agreement has a commitment fee of 0.10% of any undrawn amount. As of January 31, 2021, the interest rate charged under the SSB Agreement was 0.88%. "Net income" payments related to cash collateral in connection with securities lending were 0.44% of the borrowed amount on an annualized basis as of that date, although this amount can vary based on changes in underlying interest rates.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's MRP Shareholders are entitled to receive monthly cash dividends, at a currently effective dividend rate per annum for each series of MRP Shares as follows (subject to adjustment as described above in "Mandatory Redeemable Preferred Shares"): 3.70% for Series A MRP Shares, 4.00% for Series B MRP Shares and 4.24% for Series C MRP Shares.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">To cover the interest expense on the borrowings under the SSB Agreement (including "net income" payments made with respect to borrowings offset by collateral for securities on loan) and the dividend payments associated with the MRP Shares, based on rates in effect on January 31, 2021, the Fund's portfolio would need to experience an annual return of 0.49% (before giving effect to expenses associated with senior securities).</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage is a speculative technique that could adversely affect the returns to common shareholders. Leverage can cause the Fund to lose money and can magnify the effect of any losses. To the extent the income or capital appreciation derived from securities purchased with funds received from leverage exceeds the cost of leverage, the Fund's return will be greater than if leverage had not been used. Conversely, if the income or capital appreciation from the securities purchased with such funds is not sufficient to cover the cost of leverage or if the Fund incurs capital losses, the return of the Fund will be less than if leverage had not been used, and therefore the amount available for distribution to common shareholders as dividends and other distributions will be reduced or potentially eliminated.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will pay, and common shareholders will effectively bear, any costs and expenses relating to any borrowings and to the issuance and ongoing maintenance of preferred shares, including the MRP Shares, or debt securities. Such costs and expenses include the higher management fee resulting from the use of any such leverage, offering and/or issuance costs, and interest and/or dividend expense and ongoing maintenance.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain types of borrowings may result in the Fund being subject to covenants in credit agreements, including those relating to asset coverage, borrowing base and portfolio composition requirements and additional </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>42</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=46,FOLIO='42',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">covenants that may affect the Fund's ability to pay dividends and distributions on common shares in certain instances. The Fund may also be required to pledge its assets to the lenders in connection with certain types of borrowings. The Fund may be subject to certain restrictions on investments imposed by guidelines of and covenants with rating agencies for the preferred shares or short-term debt instruments issued by the Fund. These guidelines and covenants may impose asset coverage or portfolio composition requirements that are more stringent than those imposed by the 1940 Act.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Because Calamos' investment management fee is a percentage of the Fund's managed assets, Calamos' fee will be higher if the Fund is leveraged and Calamos will have an incentive to be more aggressive and leverage the Fund. Consequently, the Fund and Calamos may have differing interests in determining whether to leverage the Fund's assets. Any additional use of leverage by the Fund effected through new, additional or increased credit facilities or the issuance of preferred shares would require approval by the Board of Trustees of the Fund.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table illustrates the hypothetical effect on the return to a holder of the Fund's common shares of the leverage obtained by us (and utilized on January 31, 2021). The purpose of this table is to assist you in understanding the effects of leverage. As the table shows, leverage generally increases the return to common shareholders when portfolio return is positive and greater than the cost of leverage and decreases the return when the portfolio return is negative or less than the cost of leverage. The figures appearing in the table are hypothetical and actual returns may be greater or less than those appearing in the table.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="195" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Assumed Portfolio Return (Net of Expenses)</font></p>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(10.00</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="36" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(5.00</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="36" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0.00</font></p>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="33" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">5.00</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.00</font></p>

</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="195" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Corresponding Common Share Return<sup>(1)</sup></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(15.10</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="36" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(7.90</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="36" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(0.70</font></p>

</td>
<td colspan="1" width="27" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="33" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">6.50</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


 &nbsp;

</td>
<td colspan="1" width="38" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">13.70</font></p>

</td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">


<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">%</font></p>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>



<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;Includes interest expense on the borrowings under the SSB Agreement, accrued at interest rates in effect on January 31, 2021 of 0.88%, and dividend expense on the MRP Shares.</font></p>

<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">For further information about leveraging, see "Risk Factors &#151; Fund Risks &#151; Leverage Risk."</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="interestratetransactions"></a><b>INTEREST RATE TRANSACTIONS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In order to reduce the interest rate risk inherent in the Fund's underlying investments and capital structure, the Fund, if Calamos deems market conditions favorable, may enter into over-the-counter interest rate swap, cap or floor transactions to attempt to protect itself from increasing dividend or interest expenses on its leverage and to hedge portfolio securities from interest rate changes. Fixed-for-floating interest rate swaps involve the Fund's agreement with the swap counterparty to pay a fixed rate payment in exchange for the counterparty agreeing to pay the Fund a payment at a variable rate that is expected to approximate the rate of any variable rate payment obligation on the Fund's leverage. The payment obligations would be based on the notional amount of the swap.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may use an interest rate cap, which would require it to pay a premium to the counterparty and would entitle it, to the extent that a specified variable rate index exceeds a predetermined fixed rate, to receive from the counterparty payment of the excess amount based on a stated notional amount. There can be no assurance that the Fund will use interest rate transactions or that, if used, their use will be beneficial to the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will usually enter into swaps or caps on a net basis; that is, the two payment streams will be netted out in a cash settlement on the payment date or dates specified in the instrument, with the Fund receiving or paying, as the case may be, only the net amount of the two payments. The Fund intends to segregate with its custodian cash or liquid securities having a value at least equal to the Fund's net payment obligations under any swap transaction, marked-to-market daily.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The use of interest rate swaps and caps is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio security transactions. Depending on the state of </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>43</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=47,FOLIO='43',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">interest rates in general, the Fund's use of interest rate swaps or caps could enhance or harm the overall performance of the Fund's common shares. To the extent that there is a decline in interest rates for maturities equal to the remaining maturity on the Fund's fixed rate payment obligation under the interest rate swap or equal to the remaining term of the interest rate cap, the value of the swap or cap (which initially has a value of zero) could decline, and could result in a decline in the net asset value of the common shares. If, on the other hand, such rates were to increase, the value of the swap or cap could increase, and thereby increase the net asset value of the common shares. As interest rate swaps or caps approach their maturity, their positive or negative value due to interest rate changes will approach zero.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, if the short-term interest rates effectively received by the Fund during the term of an interest rate swap are lower than the Fund's fixed rate of payment on the swap, the swap will increase the Fund's operating expenses and reduce common share net earnings. For example, if the Fund were to enter into one or more interest rate swaps in a notional amount equal to 75% of its outstanding margin loan under which the Fund would receive a short-term swap rate of 0.08% and pay a fixed swap rate of 0.17% over the term of the swap, the swap would effectively increase Fund expenses and reduce Fund common share net earnings by approximately 0.02% as a percentage of net assets attributable to common shareholders and less than 0.02% as a percentage of managed assets.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If, on the other hand, the short-term interest rates effectively received by the Fund are higher than the Fund's fixed rate of payment on the interest rate swap, the swap would enhance common share net earnings. The example above is purely for illustrative purposes and is not predictive of the actual percentage of the Fund's leverage that will be hedged by a swap, the actual fixed rates that the Fund will pay under the swap (which will depend on market interest rates for the applicable maturities at the time the Fund enters into swaps) or the actual short-term rates that the Fund will receive on any swaps (which fluctuate frequently during the term of the swap, and may change significantly from initial levels), or the actual impact such swaps will have on the Fund's expenses and common share net earnings. In either case, the swap would have the effect of reducing fluctuations in the Fund's cost of leverage due to changes in short term interest rates during the term of the swap.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Buying interest rate caps could enhance the performance of the Fund's common shares by limiting certain leverage expenses. Buying interest rate caps could also increase the operating expenses of the Fund and decrease the net earnings of the common shares in the event that interest rates decline or stay the same or the premium paid by the Fund to the counterparty exceeds the additional amount the Fund would have been required to pay on its preferred shares due to increases in short-term interest rates during the term of the cap had it not entered into the cap agreement. The Fund has no current intention of selling an interest rate swap or cap. The Fund will monitor any interest rate swaps or caps with a view to ensuring that it remains in compliance with the federal income tax requirements for qualification as a regulated investment company.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Interest rate swaps and caps do not involve the delivery of securities or other underlying assets or principal. Accordingly, the risk of loss with respect to interest rate swaps and caps is limited to the net amount of interest payments that the Fund is contractually obligated to make or, if applicable, any premium paid by the Fund. If the counterparty defaults, the Fund would not be able to use the anticipated net receipts under the swap or cap to offset the dividend or interest payments on the Fund's leverage or offset certain losses in its portfolio. Depending on whether the Fund would be entitled to receive net payments from the counterparty on the swap or cap, which in turn would depend on the general state of short-term interest rates at that point in time, such a default could negatively impact the performance of the common shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will not enter into an interest rate swap or cap transaction with any counterparty that Calamos believes does not have the financial resources to honor its obligation under the interest rate swap or cap transaction. Further, Calamos will continually monitor the financial stability of a counterparty to an interest rate swap or cap transaction in an effort to proactively protect the Fund's investments.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>44</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=48,FOLIO='44',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, at the time the interest rate swap or cap transaction reaches its scheduled termination date, there is a risk that the Fund will not be able to obtain a replacement transaction or that the terms of the replacement will not be as favorable as on the expiring transaction. If this occurs, it could have a negative impact on the performance of the Fund's common shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">When preferred shares are outstanding, the Fund may choose or be required to redeem some or all preferred shares or prepay any borrowings. This redemption or prepayment would likely result in the Fund seeking to terminate early all or a portion of any swap or cap transaction. Such early termination of a swap could result in a termination payment by or to the Fund. An early termination of a cap could result in a termination payment to the Fund.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="riskfactors"></a><b>RISK FACTORS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Investing in any of our securities involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in any of our securities you should consider carefully the following risks, as well as any risk factors included in the applicable prospectus supplement.</i></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Fund Risks</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The principal risks are presented in alphabetical order to facilitate finding particular risks and comparing them with other funds. Each risk summarized below, including Management Risk, Portfolio Selection Risk, Equity Securities Risk, Emerging Market Risk and Foreign Securities Risk, among others, is considered a "principal risk" of investing in the Fund, regardless of the order in which it appears.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>General.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund is a diversified, closed-end management investment company designed primarily as a long-term investment and not as a trading tool. The Fund invests primarily in a diversified portfolio of convertible securities and non-convertible income securities. An investment in the Fund's common shares may be speculative and it involves a high degree of risk. The Fund is not a complete investment program. Due to the uncertainty in all investments, there can be no assurance that the Fund will achieve its investment objective.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>American Depositary Receipts Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The stocks of most foreign companies that trade in the U.S. markets are traded as ADRs. U.S. depositary banks issue these stocks. Each ADR represents one or more shares of foreign stock or a fraction of a share. The price of an ADR corresponds to the price of the foreign stock in its home market, adjusted to the ratio of the ADRs to foreign company shares. Therefore, while purchasing a security on a U.S. exchange, the risks inherently associated with foreign investing still apply to ADRs.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Antitakeover Provisions.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund's Agreement and Declaration of Trust and By-Laws include provisions that could limit the ability of other entities or persons to acquire control of the Fund or to change the composition of its Board of Trustees. Such provisions could limit the ability of shareholders to sell their shares at a premium over prevailing market prices by discouraging a third party from seeking to obtain control of the Fund. These provisions include staggered terms of office for the Trustees, advance notice requirements for shareholder proposals, and super-majority voting requirements for certain transactions with affiliates, converting the Fund to an open-end investment company or a merger, asset sale or similar transaction. Holders of preferred shares have voting rights in addition to and separate from the voting rights of common shareholders with respect to certain of these matters. Holders of any preferred shares, voting separately as a single class, have the right to elect at least two Trustees at all times. See "Description of Securities &#151; Preferred Shares" and "Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions." The holders of preferred shares or debt, if any, on the one hand, and the holders of the common shares, on the other, may have interests that conflict with each other in certain situations, including conflicts that relate to the fees and expenses of the Fund. For more information on potential conflicts of interest between holders of common shares and holders of preferred shares, see "Leverage Risk" above.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>45</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=49,FOLIO='45',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Cash Holdings Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent the Fund holds cash positions, the Fund risks achieving lower returns and potential lost opportunities to participate in market appreciation which could negatively impact the Fund's performance and ability to achieve its investment objective.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Contingent Liabilities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Entering into derivative contracts in order to pursue the Fund's various hedging strategies could require the Fund to fund cash payments in the future under certain circumstances, including an event of default or other early termination event, or the decision by a counterparty to request margin in the form of securities or other forms of collateral under the terms of the derivative contract or applicable laws. The amounts due with respect to a derivative contract would generally be equal to the unrealized loss of the open positions with the respective counterparty and could also include other fees and charges. These payments are contingent liabilities and therefore may not appear on the Fund's balance sheet. The Fund's ability to fund these contingent liabilities will depend on the liquidity of the Fund's assets and access to capital at the time, and the need to fund these contingent liabilities could adversely impact our financial condition.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Convertible Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The value of a convertible security is influenced by both the yield of non-convertible securities of comparable issuers and by the value of the underlying common stock. The value of a convertible security viewed without regard to its conversion feature (i.e., strictly on the basis of its yield) is sometimes referred to as its "investment value." A convertible security's investment value tends to decline as prevailing interest rate levels increase. Conversely, a convertible security's investment value tends to increase as prevailing interest rate levels decline.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">However, a convertible security's market value tends to reflect the market price of the common stock of the issuing company when that stock price is greater than the convertible security's "conversion price." The conversion price is defined as the predetermined price at which the convertible security could be exchanged for the associated stock. As the market price of the underlying common stock declines, the price of the convertible security tends to be influenced more by the yield of the convertible security and changes in interest rates. Thus, the convertible security may not decline in price to the same extent as the underlying common stock. In the event of a liquidation of the issuing company, holders of convertible securities would be paid before the company's common stockholders.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Counterparty and Settlement Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Trading options, futures contracts, swaps and other derivative financial instruments entails credit risk with respect to the counterparties. Such instruments when traded over the counter do not include the same protections as may apply to trading derivatives on organized exchanges. Substantial losses may arise from the insolvency, bankruptcy or default of a counterparty and risk of settlement default of parties with whom it trades securities. This risk may be heightened during volatile market conditions. Settlement mechanisms in emerging markets are generally less developed and reliable than those in more developed countries thus increasing the risks.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In the past, broker-dealers and other financial institutions have experienced extreme financial difficulty, sometimes resulting in bankruptcy of the institution. Although Calamos monitors the creditworthiness of the Fund's counterparties, there can be no assurance that the Fund's counterparties will not experience similar difficulties, possibly resulting in losses to the Fund. If a counterparty becomes bankrupt, or otherwise fails to perform its obligations under a derivative contract due to financial difficulties, the Fund may experience significant delays in obtaining any recovery under the derivative contract in a bankruptcy or other reorganization proceeding. The Fund may obtain only a limited recovery or may obtain no recovery in such circumstances. Material exposure to a single or small group of counterparties increases the Fund's counterparty risk.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>"Covenant-Lite" Loans Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Some of the loans in which the Fund may invest may be "covenant-lite" loans, which means the loans contain fewer or no maintenance covenants than other loans and do not include terms which allow the lender to monitor the performance of the borrower and declare a default if certain criteria are breached. The Fund may experience delays in enforcing its rights on its holdings of covenant-lite loans.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>46</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=50,FOLIO='46',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Credit Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> An issuer of a fixed income security could be downgraded or default. If the Fund holds securities that have been downgraded, or that default on payment, the Fund's performance could be negatively affected.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Currency Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent that the Fund invests in securities or other instruments denominated in or indexed to foreign currencies, changes in currency exchange rates bring an added dimension of risk. Currency fluctuations could negatively impact investment gains or add to investment losses. Although the Fund may attempt to hedge against currency risk, the hedging instruments may not always perform as the Fund expects and could produce losses. Suitable hedging instruments may not be available for currencies of emerging market countries. The Fund's investment adviser may determine not to hedge currency risks, even if suitable instruments appear to be available.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Cybersecurity Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investment companies, such as the Fund, and their service providers are exposed to operational and information security risks resulting from cyberattacks, which may result in financial losses to a fund and its shareholders. Cyber-attacks include, among other behaviors, stealing or corrupting data maintained online or digitally, denial of service attacks on websites, "ransomware" that renders systems inoperable until ransom is paid, the unauthorized release of confidential information, or various other forms of cybersecurity breaches. Cyber-attacks affecting the Fund or the Adviser, custodian, transfer agent, distributor, administrator, intermediaries, trading counterparties, and other third-party service providers may adversely impact the Fund or the companies in which the Fund invests, causing the Fund's investments to lose value or to prevent a shareholder redemption or purchase from clearing in a timely manner.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Debt Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in debt securities, including corporate bonds and high yield securities. In addition to the risks described elsewhere in this prospectus (such as high yield securities risk and interest rate risk), debt securities are subject to certain additional risks, including issuer risk and reinvestment risk. Issuer risk is the risk that the value of debt securities may decline for a number of reasons which directly relate to the issuer, such as management performance, leverage and reduced demand for the issuer's goods and services. Reinvestment risk is the risk that income from the Fund's portfolio will decline if the Fund invests the proceeds from matured, traded or called bonds at market interest rates that are below the Fund portfolio's current earnings rate. A decline in income could affect the market price of the Fund's common shares or the overall return of the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Default Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Default risk refers to the risk that a company that issues a convertible or debt security will be unable to fulfill its obligations to repay principal and interest. The lower a debt security is rated, the greater its default risk. As a result, the Fund may incur cost and delays in enforcing its rights against the defaulting issuer.</font></p>


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Derivatives Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Generally, derivatives are financial contracts whose value depends on, or is derived from, the value of an underlying asset, reference rate or index, and may relate to individual debt or equity instruments, interest rates, currencies or currency exchange rates, commodities, related indexes and other assets. The Fund may utilize a variety of derivative instruments including, but not limited to, interest rate swaps, convertible securities, synthetic convertible instruments, options on individual securities, index options, long calls, covered calls, long puts, cash-secured short puts and protective puts for hedging, risk management and investment purposes. The Fund's use of derivative instruments involves investment risks and transaction costs to which the Fund would not be subject absent the use of these instruments and, accordingly, may result in losses greater than if they had not been used. The use of derivative instruments may have risks including, among others, leverage risk, duration mismatch risk, correlation risk, liquidity risk, interest rate risk, volatility risk, credit risk, management risk and counterparty risk. The use of derivatives may also have the following risks:</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><u>Correlation Risk.</u> Imperfect correlation between the value of derivative instruments and the underlying assets of the Fund creates the possibility that the loss on such instruments may be greater than the gain in the value of the underlying assets in the Fund's portfolio.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>47</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=51,FOLIO='47',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><u>Duration Mismatch Risk.</u> The duration of a derivative instrument may be significantly different than the duration of the related liability or asset.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><u>Volatility Risk.</u> Risk may arise in connection with the use of derivative instruments from volatility of interest rates and the prices of reference instruments.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><u>Leverage Risk.</u> The derivative investments in which the Fund may invest will give rise to forms of financial leverage, which may magnify the risk of owning such instruments. Derivatives generally involve leverage in the sense that the investment exposure created by the derivatives may be significantly greater than the Fund's initial investment in the derivative. Accordingly, if the Fund enters into a derivative transaction, it could lose substantially more than the principal amount invested.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Additionally, as a closed-end investment company registered with the SEC, the Fund is subject to the federal securities laws, including the 1940 Act, the rules thereunder, and various SEC and SEC staff interpretive positions. In accordance with these laws, rules and positions, the Fund may "set aside" liquid assets (often referred to as "asset segregation"), or engage in other SEC or staff-approved measures, to "cover" open positions with respect to certain portfolio management techniques, such as engaging in reverse repurchase agreements, dollar rolls, entering into credit default swaps or futures contracts, or purchasing securities on a when-issued or delayed delivery basis, that may be considered senior securities under the 1940 Act. The Fund intends to cover its derivative positions by maintaining an amount of cash or liquid securities in a segregated account equal to the face value of those positions and by offsetting derivative positions against one another or against other assets to manage the effective market exposure resulting from derivatives in its portfolio. To the extent that the Fund does not segregate liquid assets or otherwise cover its obligations under such transactions, such transactions will be treated as senior securities representing indebtedness for purposes of the requirement under the 1940 Act that the Fund may not enter into any such transactions if the Fund's borrowings would thereby exceed 33 1/3% of its managed assets, less all liabilities and indebtedness of the Fund not represented by senior securities. However, these transactions, even if covered, may represent a form of economic leverage and will create risks. In addition, these segregation and coverage requirements could result in the Fund maintaining securities positions that it would otherwise liquidate, segregating assets at a time when it might be disadvantageous to do so or otherwise restricting portfolio management. Such segregation and cover requirements will not limit or offset losses on related positions.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><u>Regulatory Risk.</u> The enforceability of agreements underlying hedging transactions may depend on compliance with applicable statutory and other regulatory requirements and, depending on the identity of the counterparty, applicable international requirements. New or amended regulations may be imposed by the CFTC, the SEC, the Federal Reserve or other financial regulators, other governmental regulatory authorities or self-regulatory organizations that supervise the financial markets that could adversely affect the Fund. In particular, these agencies are empowered to promulgate a variety of new rules pursuant to recently enacted financial reform legislation in the United States. The Fund also may be adversely affected by changes in the enforcement or interpretation of existing statues and rules by these governmental regulatory authorities or self-regulatory organizations.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, the securities and futures markets are subject to comprehensive statutes, regulations and margin requirements. For instance, the Dodd &#151; Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act") could have an adverse effect on the Fund's ability to use derivative instruments. The Dodd-Frank Act is designed to impose stringent regulation on the over-the-counter derivatives market in an attempt to increase transparency and accountability and provides for, among other things, new clearing, execution, margin, reporting, recordkeeping, business conduct, disclosure, position limit, minimum net capital and registration requirements. Although the CFTC has released final rules relating to clearing, execution, reporting, risk management, compliance, position limit, anti-fraud, consumer protection, portfolio reconciliation, documentation, recordkeeping, business conduct, margin requirements and registration requirements under the Dodd-Frank Act, many of the provisions are subject to further final rulemaking, and thus the Dodd-Frank Act's ultimate impact </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>48</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=52,FOLIO='48',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">remains unclear. New regulations could, among other things, restrict the Fund's ability to engage in derivatives transactions (for example, by making certain types of derivatives transactions no longer available to our funds), increase the costs of using these instruments (for example, by increasing margin, capital or reporting requirements) and/or make them less effective and, as a result, the Fund may be unable to execute its investment strategy. Limits or restrictions applicable to the counterparties with which the Fund engages in derivative transactions could also prevent the Fund from using these instruments, affect the pricing or other factors relating to these instruments or may change availability of certain investments. It is unclear how the regulatory changes will affect counterparty risk.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Commission recently finalized new Rule 18f-4 under the 1940 Act providing for the regulation of registered investment companies' use of derivatives and certain related instruments. Compliance with Rule 18f-4 will not be required until approximately the middle of 2022. The new rule, among other things, limits derivatives exposure through one of two value-at-risk tests, requires funds to adopt and implement a derivatives risk management program (including the appointment of a derivatives risk manager and the implementation of certain testing requirements), and subjects funds to certain reporting requirements in respect of derivatives. Limited derivatives users (as determined by Rule 18f-4) are not, however, subject to the full requirements under the rule. In connection with the adoption of Rule 18f-4, the Commission also eliminated the asset segregation framework for covering derivatives and certain financial instruments arising from the Commission's Release 10666 and ensuing staff guidance. As the Fund comes into compliance, the Fund's approach to asset segregation and coverage requirements described in this prospectus may be impacted. Rule 18f-4 could restrict the Fund's ability to engage in certain derivatives transactions and/or increase the costs of such derivatives transactions, which could adversely affect the value or performance of the Fund.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><u>General Derivative Risks.</u> Derivatives also involve the risk of mispricing or improper valuation and the risk that changes in the value of a derivative may not correlate perfectly with an underlying asset, interest rate or index. Suitable derivative transactions may not be available in all circumstances and there can be no assurance that the Fund will engage in these transactions to reduce exposure to other risks when that would be beneficial. Furthermore, the skills needed to employ derivatives strategies are different from those needed to select portfolio securities and, in connection with such strategies, the Fund makes predictions with respect to market conditions, liquidity, currency movements, market values, interest rates and other applicable factors, which may be inaccurate. Thus, the use of derivative investments may require the Fund to sell or purchase portfolio securities at inopportune times or for prices below or above the current market values, may limit the amount of appreciation the Fund can realize on an investment or may cause the Fund to hold a security that it might otherwise want to sell. Tax rules governing the Fund's transactions in derivative instruments may also affect whether gains and losses recognized by the Fund are treated as ordinary or capital, accelerate the recognition of income or gains to the Fund, defer losses to the Fund, and cause adjustments in the holding periods of the Fund's securities, thereby affecting, among other things, whether capital gains and losses are treated as short-term or long-term. These rules could therefore affect the amount, timing and/or character of distributions to shareholders. In addition, there may be situations in which the Fund elects not to use derivative instruments that result in losses greater than if they had been used. Amounts paid by the Fund as premiums and cash or other assets held in margin accounts with respect to the Fund's derivative instruments would not be available to the Fund for other investment purposes, which may result in lost opportunities for gain. Derivative instruments can be illiquid, and may disproportionately increase losses and may have a potentially large impact on Fund performance.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Duration Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Duration measures the time-weighted expected cash flows of a fixed-income security, which can determine its sensitivity to changes in the general level of interest rates. The value of securities with longer durations tend to be more sensitive to interest rate changes than securities with shorter durations. The longer the Fund's dollar-weighted average duration, the more its value can generally be expected to be sensitive to interest rate changes than a fund with a shorter dollar-weighted average duration. Duration differs from maturity in that it considers a security's coupon payments in addition to the amount of time until the security matures. Various techniques may be used to shorten or lengthen the Fund's duration. As the value of a security changes over time, so will its duration.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>49</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=53,FOLIO='49',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Emerging Markets Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investments in foreign securities may include investments in securities of foreign issuers located in less developed countries, which are sometimes referred to as emerging markets. Emerging market countries may have relatively unstable governments and economies based on only a few industries, which may cause greater instability. The value of emerging market securities will likely be particularly sensitive to changes in the economies of such countries. These countries are also more likely to experience higher levels of inflation, deflation or currency devaluations, which could adversely affect the value of the Fund's investments and hurt those countries' economies and securities markets. Securities issued in these countries may be more volatile and less liquid than securities issued in foreign countries with more developed economies or markets. Loss may also result from the imposition of exchange controls, confiscations and other government restrictions, or from problems in share registration, settlement, custody, or other operational risks.</font></p>


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Equity Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Equity investments are subject to greater fluctuations in market value than other asset classes as a result of such factors as the issuer's business performance, investor perceptions, stock market trends and general economic conditions. Equity securities are subordinated to bonds and other debt instruments in a company's capital structure in terms of priority to corporate income and liquidation payments. The Fund may invest in preferred stocks and convertible securities of any rating, including below investment grade. Below investment grade securities or comparable unrated securities are considered predominantly speculative with respect to the issuer's ability to pay interest and principal and are susceptible to default or decline in market value due to adverse economic and business developments. The market values for below investment grade securities tend to be very volatile, and these securities are generally less liquid than investment grade debt securities. For these reasons, your investment in the Fund is subject to the following specific risks:</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;increased price sensitivity to changing interest rates and to a deteriorating economic environment;</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;greater risk of loss due to default or declining credit quality;</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;adverse company specific events are more likely to render the issuer unable to make interest and/or principal payments; and</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;if a negative perception of the below investment grade market develops, the price and liquidity of below investment grade securities may be depressed. This negative perception could last for a significant period of time.</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Foreign Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investments in non-U.S. issuers may involve unique risks compared to investing in securities of U.S. issuers. These risks are more pronounced to the extent that the Fund invests a significant portion of its non-U.S. investments in one region or in the securities of emerging market issuers. See also " &#151; Emerging Markets Risk" below. These risks may include:</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;less information may be available about non-U.S. issuers or markets due to less rigorous disclosure or accounting standards or regulatory practices in foreign jurisdictions;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;many non-U.S. markets are smaller, less liquid and more volatile. In a changing market, Calamos may not be able to sell the Fund's portfolio securities at times, in amounts and at prices it considers reasonable;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;an adverse effect of currency exchange rate changes or controls on the value of the Fund's investments;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the economies of non-U.S. countries may grow at slower rates than expected or may experience a downturn or recession;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;economic, political and social developments may adversely affect the securities markets in foreign jurisdictions, including expropriation and nationalization;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the difficulty in obtaining or enforcing a court judgment in non-U.S. countries;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;restrictions on foreign investments in non-U.S. jurisdictions;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;difficulties in effecting the repatriation of capital invested in non-U.S. countries;</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>50</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=54,FOLIO='50',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;withholding and other non-U.S. taxes may decrease the Fund's return;</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the ability for the Public Company Accounting Oversight Board, which regulates auditors of U.S. public companies, is unable to inspect audit work papers in certain foreign countries;</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;often limited rights and few practical remedies to pursue shareholder claims, including class actions or fraud claims, and the ability of the Commission, the U.S. Department of Justice and other authorities to bring and enforce actions against foreign issuers or foreign persons is limited; and</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;dividend income the Fund receives from foreign securities may not be eligible for the special tax treatment applicable to qualified dividend income.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">There may be less publicly available information about non-U.S. markets and issuers than is available with respect to U.S. securities and issuers. Non-U.S. companies generally are not subject to accounting, auditing and financial reporting standards, practices and requirements comparable to those applicable to U.S. companies. The trading markets for most non-U.S. securities are generally less liquid and subject to greater price volatility than the markets for comparable securities in the United States. The markets for securities in certain emerging markets are in the earliest stages of their development. Even the markets for relatively widely traded securities in certain non-U.S. markets, including emerging market countries, may not be able to absorb, without price disruptions, a significant increase in trading volume or trades of a size customarily undertaken by institutional investors in the United States. Additionally, market making and arbitrage activities are generally less extensive in such markets, which may contribute to increased volatility and reduced liquidity.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Economies and social and political conditions in individual countries may differ unfavorably from those in the United States. Non-U.S. economies may have less favorable rates of growth of gross domestic product, rates of inflation, currency valuation, capital reinvestment, resource self-sufficiency and balance of payments positions. Many countries have experienced substantial, and in some cases extremely high, rates of inflation for many years. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, very negative effects on the economies and securities markets of certain emerging market countries. Unanticipated political or social developments may also affect the values of the Fund's investments and the availability to the Fund of additional investments in such countries.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Based upon the Fund's test for determining whether an issuer is a "foreign issuer" as described above, it is possible that an issuer of securities in which the Fund invests could be organized under the laws of a foreign country, yet still conduct a substantial portion of its business in the U.S. or have substantial assets in the U.S. In this case, such a "foreign issuer" may be subject to the market conditions in the U.S. to a greater extent than it may be subject to the market conditions in the country of its organization. See " &#151; Non-U.S. Government Obligation Risk."</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Forward Foreign Currency Contract Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Forward foreign currency contracts are contractual agreements to purchase or sell a specified currency at a specified future date (or within a specified time period) at a price set at the time of the contract. The Fund may not fully benefit from, or may lose money on, forward foreign currency transactions if changes in currency exchange rates do not occur as anticipated or do not correspond accurately to changes in the value of the Fund's holdings.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Geographic Concentration Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investments in a particular country or geographic region may be particularly susceptible to political, diplomatic or economic conditions and regulatory requirements. To the extent the Fund concentrates its investments in a particular country, region or group of regions, the Fund may be more volatile than a more geographically diversified fund.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>High Yield Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in high yield securities of any rating. Investment in high yield securities involves substantial risk of loss. Below investment grade non-convertible debt securities or comparable unrated securities are commonly referred to as "junk bonds" and are considered predominantly </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>51</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=55,FOLIO='51',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">speculative with respect to the issuer's ability to pay interest and principal and are susceptible to default or decline in market value due to adverse economic and business developments. The market values for high yield securities tend to be very volatile, and these securities are less liquid than investment grade debt securities. For these reasons, your investment in the Fund is subject to the following specific risks:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;increased price sensitivity to changing interest rates and to a deteriorating economic environment;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;greater risk of loss due to default or declining credit quality;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;adverse company specific events are more likely to render the issuer unable to make interest and/or principal payments; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;if a negative perception of the high yield market develops, the price and liquidity of high yield securities may be depressed. This negative perception could last for a significant period of time.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Securities rated below investment grade are speculative with respect to the capacity of the issuer to pay interest and repay principal in accordance with the terms of such securities. A rating of "Ba1" from Moody's means that the issue so rated can have speculative elements and is subject to substantial credit risk. Standard &amp; Poor's assigns a rating of "BB+" to issues that are less vulnerable to nonpayment than other speculative issues, but nonetheless subject to major ongoing uncertainties or exposure to adverse business, financial, or economic conditions which could lead to the obligor's inadequate capacity to meet its financial commitment on the obligation. A rating of "C" from Moody's means that the issue so rated can be regarded as having extremely poor prospects of ever attaining any real investment standing. Standard &amp; Poor's assigns a rating of "C" to issues that are currently highly vulnerable to nonpayment, and the "C" rating may be used to cover a situation in which a bankruptcy petition has been filed or similar action taken, but payments on the obligation are being continued (a "C" rating is also assigned to a preferred stock issue in arrears on dividends or sinking fund payments, but that is currently paying). See the statement of additional information for a description of Moody's and Standard &amp; Poor's ratings.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Adverse changes in economic conditions are more likely to lead to a weakened capacity of a high yield issuer to make principal payments and interest payments than an investment grade issuer. The principal amount of high yield securities outstanding has proliferated in the past decade as an increasing number of issuers have used high yield securities for corporate financing. An economic downturn could severely affect the ability of highly leveraged issuers to service their debt obligations or to repay their obligations upon maturity. Similarly, downturns in profitability in specific industries could adversely affect the ability of high yield issuers in those industries to meet their obligations. The market values of lower quality debt securities tend to reflect individual developments of the issuer to a greater extent than do higher quality securities. Factors having an adverse impact on the market value of lower quality securities may have an adverse effect on the Fund's net asset value and the market value of its common shares. In addition, the Fund may incur additional expenses to the extent it is required to seek recovery upon a default in payment of principal or interest on its portfolio holdings. In certain circumstances, the Fund may be required to foreclose on an issuer's assets and take possession of its property or operations. In such circumstances, the Fund would incur additional costs in disposing of such assets and potential liabilities from operating any business acquired.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The secondary market for high yield securities may not be as liquid as the secondary market for more highly rated securities, a factor which may have an adverse effect on the Fund's ability to dispose of a particular security. There are fewer dealers in the market for high yield securities than for investment grade obligations. The prices quoted by different dealers may vary significantly and the spread between the bid and asked price is generally much larger than for higher quality instruments. Under adverse market or economic conditions, the secondary market for securities could contract further, independent of any specific adverse changes in the condition of a particular issuer, and these instruments may become illiquid. As a result, the Fund could find it more difficult to sell these securities or may be able to sell the securities only at prices lower than if such securities were widely traded. Prices realized upon the sale of such lower rated or unrated securities, under these circumstances, may be less than the prices used in calculating the Fund's net asset value.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>52</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=56,FOLIO='52',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Because investors generally perceive that there are greater risks associated with lower quality debt securities of the type in which the Fund may invest a portion of its assets, the yields and prices of such securities may tend to fluctuate more than those for higher rated securities. In the lower quality segments of the debt securities market, changes in perceptions of issuers' creditworthiness tend to occur more frequently and in a more pronounced manner than do changes in higher quality segments of the debt securities market, resulting in greater yield and price volatility.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If the Fund invests in high yield securities that are rated "C" or below, the Fund will incur significant risk in addition to the risks associated with investments in high yield securities and corporate loans. Distressed securities frequently do not produce income while they are outstanding. The Fund may purchase distressed securities that are in default or the issuers of which are in bankruptcy. The Fund may be required to bear certain extraordinary expenses in order to protect and recover its investment. The Fund also will be subject to significant uncertainty as to when and in what manner and for what value the obligations evidenced by the distressed securities will eventually be satisfied.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Inflation Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Inflation is the reduction in the purchasing power of money resulting from an increase in the price of goods and services. Inflation risk is the risk that the inflation adjusted or "real" value of an investment in preferred stock or debt securities or the income from that investment will be worth less in the future. As inflation occurs, the real value of the preferred stock or debt securities and the dividend payable to holders of preferred stock or interest payable to holders of debt securities declines.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Interest Rate Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> In addition to the risks described above, debt securities, including high yield securities, are subject to certain risks, including:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;if interest rates go up, the value of debt securities in the Fund's portfolio generally will decline; </font></p>


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;during periods of declining interest rates, the issuer of a security may exercise its option to prepay principal earlier than scheduled, forcing the Fund to reinvest in lower yielding securities. This is known as call or prepayment risk. Debt securities frequently have call features that allow the issuer to repurchase the security prior to its stated maturity. An issuer may redeem an obligation if the issuer can refinance the debt at a lower cost due to declining interest rates or an improvement in the credit standing of the issuer;</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;during periods of rising interest rates, the average life of certain types of securities may be extended because of slower than expected principal payments. This may lock in a below market interest rate, increase the estimated period until the security is paid in full and reduce the value of the security. This is known as extension risk;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;rising interest rates could result in an increase in the cost of the Fund's leverage and could adversely affect the ability of the Fund to meet asset coverage requirements with respect to leverage;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;variable rate securities generally are less sensitive to interest rate changes but may decline in value if their interest rates do not rise as much, or as quickly, as interest rates in general. When the Fund holds variable rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the NAV of the Fund's shares; and</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the risks associated with rising interest rates may be particularly acute in the current market environment because market interest rates are currently near historically low levels. Thus, the Fund currently faces a heightened level of interest rate risk. To the extent the Federal Reserve Board raises interest rates, there is a risk that interest rates across the financial system may rise. Increases in volatility and interest rates in the fixed-income market may expose the Fund to heightened interest rate risk.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Many financial instruments use or may use a floating rate based on LIBOR, which is the offered rate for short-term Eurodollar deposits between major international banks. LIBOR was expected to be phased out by the </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>53</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=57,FOLIO='53',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">end of 2021. On November 30, 2020, the administrator of LIBOR announced a delay in the phase out of a majority of the U.S. dollar LIBOR publications until June 30, 2023, with the remainder of LIBOR publications to still end at the end of 2021. There remains uncertainty regarding the future utilization of LIBOR and the nature of any replacement rate. As such, the potential effect of a transition away from LIBOR on the Fund or the financial instruments in which the Fund invests can be difficult to ascertain, and they may vary depending on factors that include, but are not limited to: (i) existing fallback or termination provisions in individual contracts and (ii) whether, how, and when industry participants develop and adopt new reference rates and fallbacks for both legacy and new products and instruments.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Leverage Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund has issued indebtedness and preferred shares and may borrow money or issue debt securities as permitted by the 1940 Act. As of January 31, 2021, the Fund has leverage in the form of borrowings under the SSB Agreement and outstanding MRP Shares. Leverage is the potential for the Fund to participate in gains and losses on an amount that exceeds the Fund's investment. The borrowing of money or issuance of debt securities and preferred shares represents the leveraging of the Fund's common shares. As a non-fundamental policy, the Fund may not issue preferred shares or borrow money and/or issue debt securities with an aggregate liquidation preference and aggregate principal amount exceeding 38% of the Fund's managed assets as measured at the time of borrowing or issuance of the new securities. However, the Board of Trustees reserves the right to issue preferred shares or debt securities or borrow to the extent permitted by the 1940 Act and the Fund's policies. See "Leverage."</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage creates risks which may adversely affect the return for the holders of common shares, including:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the likelihood of greater volatility in the net asset value and market price of the Fund's common shares;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;fluctuations in the dividend rates on any preferred shares borne by the Fund or in interest rates on borrowings and short-term debt;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;increased operating costs, which are effectively borne by common shareholders, may reduce the Fund's total return; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the potential for a decline in the value of an investment acquired with borrowed funds, while the Fund's obligations under such borrowing or preferred shares remain fixed.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, the rights of lenders and the holders of preferred shares and debt securities issued by the Fund will be senior to the rights of the holders of common shares with respect to the payment of dividends or to the payment of assets upon liquidation. Holders of preferred shares have voting rights in addition to and separate from the voting rights of common shareholders. See "Description of Securities &#151; Preferred Shares" and "Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions." The holders of preferred shares or debt, if any, on the one hand, and the holders of the common shares, on the other, may have interests that conflict in certain situations.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's use of leverage is premised upon the expectation that the Fund's preferred share dividends or borrowing cost will be lower than the return the Fund achieves on its investments with the proceeds of the issuance of preferred shares or debt securities or borrowing. Such difference in return may result from the Fund's higher credit rating or the short-term nature of its borrowing compared to the lower credit quality, long-term nature of its investments. Because Calamos seeks to invest the Fund's managed assets (including the assets obtained from leverage) in a portfolio of potentially higher yielding investments or portfolio investments with the potential for capital appreciation, the holders of common shares will be the beneficiaries of any incremental return but will bear the risk of loss on investments made with the leverage proceeds. Should the differential between the Fund's return on its investments made with the proceeds of leverage and the cost of the leverage narrow, the incremental return "pick up" will be reduced or the Fund may incur losses. If long-term interest rates rise without a corresponding increase in the yield on the Fund's portfolio investments or the Fund otherwise incurs losses on its investments, the Fund's net asset value attributable to its common shareholders will reflect the decline in the value of portfolio holdings resulting therefrom.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>54</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=58,FOLIO='54',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage is a speculative technique that could adversely affect the returns to common shareholders. Leverage can cause the Fund to lose money and can magnify the effect of any losses. To the extent the income or capital appreciation derived from securities purchased with funds received from leverage exceeds the cost of leverage, the Fund's return will be greater than if leverage had not been used. Conversely, if the income or capital appreciation from the securities purchased with such funds is not sufficient to cover the cost of leverage or if the Fund incurs capital losses, the return of the Fund will be less than if leverage had not been used, and therefore the amount available for distribution to common shareholders as dividends and other distributions will be reduced or potentially eliminated.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will pay, and common shareholders will effectively bear, any costs and expenses relating to any borrowings and to the issuance and ongoing maintenance of preferred shares or debt securities. Such costs and expenses include the higher management fee resulting from the use of any such leverage, offering and/or issuance costs, and interest and/or dividend expense and ongoing maintenance. These conditions may, directly or indirectly, result in higher leverage costs to common shareholders.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain types of borrowings may result in the Fund being subject to covenants in credit agreements, including those relating to asset coverage, borrowing base and portfolio composition requirements and additional covenants that may affect the Fund's ability to pay dividends and distributions on common shares in certain instances. The Fund may also be required to pledge its assets to the lenders in connection with certain types of borrowings. The Fund may be subject to certain restrictions on investments imposed by guidelines of and covenants with rating agencies which may issue ratings for the preferred shares or short-term debt instruments issued by the Fund. These guidelines and covenants may impose asset coverage or portfolio composition requirements that are more stringent than those imposed by the 1940 Act. If the Fund's ability to make dividends and distributions on its common shares is limited, such limitation could, under certain circumstances, impair the ability of the Fund to maintain its qualification for taxation as a regulated investment company or to reduce or eliminate tax at the Fund level, which would have adverse tax consequences for common shareholders. To the extent that the Fund is required, in connection with maintaining 1940 Act asset coverage requirements or otherwise, or elects to redeem any preferred shares or debt securities or prepay any borrowings, the Fund may need to liquidate investments to fund such redemptions or prepayments. Liquidation at times of adverse economic conditions may result in capital loss and reduce returns to common shareholders.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Board reserves the right to change the amount and type of leverage that the Fund uses, and reserves the right to implement changes to the Fund's borrowings that it believes are in the long-term interests of the Fund and its shareholders, even if such changes impose a higher interest rate or other costs or impacts over the intermediate, or short-term time period. There is no guarantee that the Fund will maintain leverage at the current rate, and the Board reserves the right to raise, decrease, or eliminate the Fund's leverage exposure. See "Prospectus Summary &#151; Use of Leverage by the Fund."</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Because Calamos' investment management fee is a percentage of the Fund's managed assets, Calamos' fee will be higher if the Fund is leveraged and Calamos will have an incentive to be more aggressive and leverage the Fund. Consequently, the Fund and Calamos may have differing interests in determining whether to leverage the Fund's assets. Any additional use of leverage by the Fund effected through new, additional or increased credit facilities or the issuance of preferred shares would require approval by the Board of Trustees of the Fund. In considering whether to approve the use of additional leverage through those means, the Board would be presented with all relevant information necessary to make a determination whether or not additional leverage would be in the best interests of the Fund, including information regarding any potential conflicts of interest.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Liquidity Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest without limit in securities that, at the time of investment, are illiquid (i.e., any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment). Illiquid securities may be difficult to dispose of at a fair price at the times when the Fund believes it is desirable to do so. Investment of the Fund's assets in illiquid securities may restrict the Fund's ability to take </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>55</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=59,FOLIO='55',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">advantage of market opportunities. The market price of illiquid securities generally is more volatile than that of more liquid securities, which may adversely affect the price that the Fund pays for or recovers upon the sale of illiquid securities. Illiquid securities are also more difficult to value and may be fair valued by the Board, in which case Calamos' judgment may play a greater role in the valuation process. Investment of the Fund's assets in illiquid securities may restrict the Fund's ability to take advantage of market opportunities. The risks associated with illiquid securities may be particularly acute in situations in which the Fund's operations require cash and could result in the Fund borrowing to meet its short-term needs or incurring losses on the sale of illiquid securities. The Fund may also invest without limitation in securities that have not been registered for public sale, but that are eligible for purchase and sale by certain qualified institutional buyers.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Loan Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in loans which may not be (i) rated at the time of investment, (ii) registered with the SEC or (iii) listed on a securities exchange. There may not be as much public information available regarding these loans as is available for other Fund investments, such as exchange-listed securities. As well, there may not be an active trading market for some loans, meaning they may be illiquid and more difficult to value than other more liquid securities. Settlement periods for loans are longer than for exchange-traded securities, typically ranging between 1 and 3 weeks, and in some cases much longer. There is no central clearinghouse for loan trades, and the loan market has not established enforceable settlement standards or remedies for failure to settle. Because the interest rates of floating-rate loans in which the Fund may invest may reset frequently, if market interest rates fall, the loans' interest rates will be reset to lower levels, potentially reducing the Fund's income. Because the adviser may wish to invest in the publicly-traded securities of an obligor, the Fund may not have access to material non-public information regarding the obligor to which other investors have access.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Management Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Calamos' judgment about the attractiveness, relative value or potential appreciation of a particular sector, security or investment strategy may prove to be incorrect.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Disruption Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Certain events have a disruptive effect on the securities markets, such as terrorist attacks, war and other geopolitical events, earthquakes, storms and other disasters. The Fund cannot predict the effects of similar events in the future on the U.S. economy or any foreign economy. High yield securities tend to be more volatile than higher rated debt securities so that these events and any actions resulting from them may have a greater impact on the prices and volatility of high yield securities than on higher rated securities.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Master Limited Partnerships Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investments in MLPs involve risks that differ from investments in common stock. Holders of MLP common units are subject to certain risks inherent in the structure of MLPs, including (i) tax risks, (ii) risk related to limited control of management or the general partner or managing member, (iii) limited rights to vote on matters affecting the MLP, except with respect to extraordinary transactions, (iv) conflicts of interest between the general partner or managing member and its affiliates, on the one hand, and the limited partners or members, on the other hand, including those arising from incentive distribution payments or corporate opportunities, and (v) cash flow risks. MLP common units and other equity securities can be affected by macro-economic and other factors affecting the stock market in general, expectations of interest rates, investor sentiment towards MLPs or the energy sector, changes in a particular issuer's financial condition, or unfavorable or unanticipated poor performance of a particular issuer (in the case of MLPs, generally measured in terms of distributable cash flow). Prices of common units of individual MLPs and other equity securities also can be affected by fundamentals unique to the partnership or company, including cash flow growth, cash generating power and distribution coverage.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Although certain MLPs may trade on national securities exchanges, certain MLPs may trade less frequently than those of larger companies due to their market capitalizations. Due to limited trading volumes of certain MLPs, the prices of such MLPs may display abrupt or erratic movements at times. Additionally, it may be more difficult for the Fund to buy and sell significant amounts of such securities without an unfavorable impact on prevailing market prices. The Fund's investment in securities that are less actively traded or over time experience decreased trading volume may restrict its ability to dispose of the securities at a fair price. Such a situation may </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>56</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=60,FOLIO='56',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">prevent the Fund from limiting losses or realizing gains. This also may adversely affect the Fund's ability to make dividend distributions to shareholders.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MLPs are generally treated as partnerships for U.S. federal income tax purposes. Partnerships do not pay U.S. federal income tax at the partnership level. Rather, each partner is allocated a share of the partnership's income, gains, losses, deductions and expenses. A change in current tax law, or a change in the business of a given MLP, could result in an MLP being treated as a corporation for U.S. federal income tax purposes. As a result, the amount of cash available for distribution by the MLP would be reduced and the after-tax return to the Fund with respect to its investment in such MLPs would be materially reduced. Thus, if any of the MLPs owned by the Fund were treated as corporations for U.S. federal income tax purposes, it could result in a reduction in the value of the Fund.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Maturity Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Interest rate risk will generally affect the price of a fixed income security more if the security has a longer maturity. Fixed income securities with longer maturities will therefore be more volatile than other fixed income securities with shorter maturities. Conversely, fixed income securities with shorter maturities will be less volatile but generally provide lower potential returns than fixed income securities with longer maturities. The average maturity of the Fund's investments will affect the volatility of the Fund's share price.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Non-Convertible Income Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund will also invest in non-convertible income securities. The Fund's investments in non-convertible income securities may have fixed or variable principal payments and all types of interest rate and dividend payment and reset terms, including fixed rate, adjustable rate, zero coupon, contingent, deferred, payment in kind and auction rate features. Recent events in the fixed-income markets may expose the Fund to heightened interest rate risk and volatility. In addition, the Fund is subject to the risk that interest rates may exhibit increased volatility, which could cause the Fund's net asset value to fluctuate more. A decrease in fixed-income market maker capacity may act to decrease liquidity in the fixed-income markets and act to further increase volatility, affecting the Fund's return.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Non-U.S. Government Obligation Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> An investment in debt obligations of non-U.S. governments and their political subdivisions involves special risks that are not present in corporate debt obligations. The non-U.S. issuer of the sovereign debt or the non-U.S. governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. During periods of economic uncertainty, the market prices of sovereign debt may be more volatile than prices of debt obligations of U.S. issuers.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Portfolio Selection Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The value of your investment may decrease if the investment adviser's judgment about the attractiveness, value or market trends affecting a particular security, issuer, industry or sector or about market movements is incorrect.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Portfolio Turnover Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The portfolio managers may actively and frequently trade securities or other instruments in the Fund's portfolio to carry out its investment strategies. A high portfolio turnover rate increases transaction costs, which may increase the Fund's expenses. Frequent and active trading may also cause adverse tax consequences for investors in the Fund due to an increase in short-term capital gains.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Recent Market Events.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Since the 2008 financial crises, financial markets throughout the world have experienced periods of increased volatility, depressed valuations, decreased liquidity and heightened uncertainty and turmoil. This turmoil resulted in unusual and extreme volatility in the equity and debt markets, in the prices of individual securities and in the world economy. Events that have contributed to these market conditions include, but are not limited to, major cybersecurity events, geopolitical events (including wars, terror attacks, and public health emergencies), measures to address budget deficits, downgrading of sovereign debt, declines in oil and commodity prices, dramatic changes in currency exchange rates, and public sentiment. In addition, many governments and quasi-governmental entities throughout the world have responded to the turmoil with a variety </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>57</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=61,FOLIO='57',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">of significant fiscal and monetary policy changes, including, but not limited to, direct capital infusions into companies, new monetary programs and dramatically lower interest rates.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The recent spread of an infectious respiratory illness caused by a novel strain of coronavirus ("COVID-19") has caused volatility, severe market dislocations and liquidity constraints in many markets, including markets for the securities the Fund holds, and may adversely affect the Fund's investments and operations. The transmission of this coronavirus and efforts to contain its spread have resulted in travel restrictions and disruptions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, quarantines, event and service cancellations or interruptions, disruptions to business operations (including staff furloughs and reductions) and supply chains, and a reduction in consumer and business spending, as well as general concern and uncertainty that has negatively affected the economy. These disruptions have led to instability in the market place, including equity and debt market losses and overall volatility, and the jobs market. The impact of this coronavirus, and other epidemics and pandemics that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to less established health care systems. Health crises caused by the recent coronavirus outbreak may exacerbate other pre-existing political, social and economic risks in certain countries. The impact of the outbreak may be short term or may last for an extended period of time.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">While the extreme volatility and disruption that U.S. and global markets experienced for an extended period of time beginning in 2007 and 2008 had, until the coronavirus outbreak, generally subsided, uncertainty and periods of volatility still remained, and risks to a robust resumption of growth persist. Federal Reserve policy, including with respect to certain interest rates may adversely affect the value, volatility and liquidity of dividend and interest paying securities. Market volatility, dramatic changes to interest rates and/or a return to unfavorable economic conditions may lower the Fund's performance or impair the Fund's ability to achieve its investment objective.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In June 2016, the United Kingdom approved a referendum to leave the European Union ("EU") ("Brexit"). On March 29, 2017, the United Kingdom formally notified the European Council of its intention to leave the EU and commenced the formal process of withdrawing from the EU. The withdrawal agreement entered into between the United Kingdom and the EU entered into force on January 31, 2020, at which time the United Kingdom ceased to be a member of the EU. Following the withdrawal, there was an eleven-month transition period, ending December 31, 2020, during which the United Kingdom negotiated its future relationship with the EU. On January 1, 2021, the EU UK Trade and Cooperation Agreement, a bilateral trade and cooperation deal governing the future relationship between the UK and the EU, provisionally went into effect. The UK Parliament has already ratified the agreement, and the EU Parliament has until February 28, 2021 to do the same. Brexit has resulted in volatility in European and global markets and could have negative long-term impacts on financial markets in the United Kingdom and throughout Europe. There is considerable uncertainty about the potential consequences for Brexit, how it will be conducted, the EU UK Trade and Cooperation Agreement, how future negotiations of trade relations will proceed, and how the financial markets will react to all of the preceding, and as this process unfolds, markets may be further disrupted. Given the size and importance of the United Kingdom's economy, uncertainty about its legal, political, and economic relationship with the remaining member states of the EU may continue to be a source of instability. Moreover, other countries may seek to withdraw from the European Union and/or abandon the euro, the common currency of the EU.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A number of countries in Europe have suffered terror attacks, and additional attacks may occur in the future. Ukraine has experienced ongoing military conflict; this conflict may expand and military attacks could occur elsewhere in Europe. Europe has also been struggling with mass migration from the Middle East and Africa. The ultimate effects of these events and other socio-political or geographical issues are not known but could profoundly affect global economies and markets.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>58</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=62,FOLIO='58',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As a result of political and military actions undertaken by Russia, the U.S. and the EU have instituted sanctions against certain Russian officials and companies. These sanctions and any additional sanctions or other intergovernmental actions that may be undertaken against Russia in the future may result in the devaluation of Russian currency, a downgrade in the country's credit rating, and a decline in the value and liquidity of Russian securities. Such actions could result in a freeze of Russian securities, impairing the ability of a fund to buy, sell, receive, or deliver those securities. Retaliatory action by the Russian government could involve the seizure of US and/or European residents' assets, and any such actions are likely to impair the value and liquidity of such assets. Any or all of these potential results could have an adverse/recessionary effect on Russia's economy. All of these factors could have a negative effect on the performance of funds that have significant exposure to Russia.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, policy and legislative changes in the United States and in other countries are changing many aspects of financial regulation. The impact of these changes on the markets, and the practical implications for market participants, may not be fully known for some time. Widespread disease and virus epidemics, such as the coronavirus outbreak, could likewise be highly disruptive, adversely affecting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Fund's investments.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>REIT Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Investing in REITs involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. An equity REIT may be affected by changes in the value of the underlying properties owned by the REIT. A mortgage REIT may be affected by changes in interest rates and the ability of the issuers of its portfolio mortgages to repay their obligations. REITs are dependent upon the skills of their managers and are not diversified. REITs are generally dependent upon maintaining cash flows to repay borrowings and to make distributions to shareholders and are subject to the risk of default by lessees or borrowers. REITs whose underlying assets are concentrated in properties used by a particular industry, such as health care, are also subject to risks associated with such industry.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">REITs (especially mortgage REITs) are also subject to interest rate risks. When interest rates decline, the value of a REIT's investment in fixed rate obligations can be expected to rise. Conversely, when interest rates rise, the value of a REIT's investment in fixed rate obligations can be expected to decline. If the REIT invests in adjustable rate mortgage loans the interest rates on which are reset periodically, yields on a REIT's investments in such loans will gradually align themselves to reflect changes in market interest rates. This causes the value of such investments to fluctuate less dramatically in response to interest rate fluctuations than would investments in fixed rate obligations.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">REITs may have limited financial resources, may utilize significant amounts of leverage, may trade less frequently and in a limited volume and may be subject to more abrupt or erratic price movements than larger company securities. Historically, REITs have been more volatile in price than the larger capitalization stocks included in Standard &amp; Poor's 500 Stock Index.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Risks Associated with Options.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may use options, including on the Fund's convertible securities or during the creation of synthetic convertible instruments. There are several risks associated with transactions in options. For example, there are significant differences between the securities markets and options markets that could result in an imperfect correlation among these markets, causing a given transaction not to achieve its objectives. A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well-conceived transaction may be unsuccessful to some degree because of market behavior or unexpected events. The Fund's ability to utilize options successfully will depend on Calamos' ability to predict pertinent market movements, which cannot be assured.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund intends to seek to generate income from option premiums by writing (selling) options. The Fund may write (sell) call options (i) on a portion of the equity securities (including securities that are convertible into equity securities) in the Fund's portfolio, (ii) on a portion of the equity securities the Fund has a right to receive upon conversion of a convertible security that it owns at the time it writes the call, and (iii) on broad-based </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>59</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=63,FOLIO='59',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">securities indices (such as the S&amp;P 500 or MSCI EAFE) or certain ETFs that trade like common stocks but seek to replicable such market indices. All call options sold by the Fund must be "covered." For example, a call option written by the Fund will require the Fund to hold the securities subject to the call (or securities convertible into the needed securities without additional consideration) or to segregate cash or liquid assets sufficient to purchase and deliver the securities if the call is exercised. Even though the Fund will receive the option premium to help protect it against loss, a call option sold by the Fund exposes the Fund during the term of the option to possible loss of opportunity to realize appreciation in the market price of the underlying security or instrument and may require the Fund to hold a security or instrument that it might otherwise have sold. The Fund may purchase and sell put options on individual securities and securities indices. In selling put options, there is a risk that the Fund may be required to buy the underlying security at a disadvantageous price above the market price. A put option written by the Fund requires the Fund to segregate cash or liquid assets equal to the exercise price minus any margin the Fund is required to post.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Rule 144A Securities Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in securities that are issued and sold through transactions under Rule 144A of the Securities Act of 1933. Under the supervision and oversight of the Board, Calamos will determine whether Rule 144A Securities are illiquid. If qualified institutional buyers are unwilling to purchase these Rule 144A Securities, the percentage of the Fund's assets invested in illiquid securities would increase. Typically, the Fund purchases Rule 144A Securities only if the Fund's adviser has determined them to be liquid. If any Rule 144A Security held by the Fund should become illiquid, the value of the security may be reduced and a sale of the security may be more difficult.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Sector Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent the Fund invests a significant portion of its assets in a particular sector, a greater portion of the Fund's performance may be affected by the general business and economic conditions affecting that sector. Each sector may share economic risk with the broader market, however there may be economic risks specific to each sector. As a result, returns from those sectors may trail returns from the overall stock market and it is possible that the Fund may underperform the broader market, or experience greater volatility.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Synthetic Convertible Instruments Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The value of a synthetic convertible instrument may respond differently to market fluctuations than a convertible instrument because a synthetic convertible instrument is composed of two or more separate securities, each with its own market value. In addition, if the value of the underlying common stock or the level of the index involved in the convertible component falls below the exercise price of the warrant or option, the warrant or option may lose all value. Synthetic convertible instruments created by other parties have the same attributes of a convertible security; however, the issuer of the synthetic convertible instrument assumes the credit risk associated with the investment, rather than the issuer of the underlying equity security into which the instrument is convertible. Investing in synthetic convertible instruments also involves the risk that the Fund does not achieve the investment exposure desired by Calamos. The Fund remains subject to the credit risk associated with the counterparty creating the synthetic convertible instrument.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Tax Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may invest in certain securities, such as certain convertible securities and high yield securities, for which the federal income tax treatment may not be clear or may be subject to re-characterization by the IRS. It could be more difficult for the Fund to comply with certain federal income tax requirements applicable to regulated investment companies if the tax characterization of the Fund's investments is not clear or if the tax treatment of the income from such investments was successfully challenged by the IRS. In addition, the tax treatment of the Fund may be affected by future interpretations of the Code and changes in the tax laws and regulations, all of which may apply with retroactive effect. See "Certain Federal Income Tax Matters."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain of the Fund's investment practices may be subject to special and complex federal income tax provisions that may, among other things, (i) disallow, suspend or otherwise limit the allowance of certain losses or deductions, (ii) convert tax-advantaged, long-term capital gains and qualified dividend income into higher taxed short-term capital gain or ordinary income, (iii) increase ordinary income distributions, (iv) convert an ordinary loss or a deduction into a capital loss (the deductibility of which is more limited), (v) cause the Fund to recognize income or gain without a corresponding receipt of cash, (vi) adversely affect the timing as to when a </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>60</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=64,FOLIO='60',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">purchase or sale of stock or securities is deemed to occur, and (vii) adversely alter the characterization of certain complex financial transactions. The Fund will monitor its transactions and may make certain tax elections where applicable in order to mitigate the effect of these provisions, if possible.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>U.S. Government Security Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Some securities issued by U.S. Government agencies or government sponsored enterprises are not backed by the full faith and credit of the U.S. and may only be supported by the right of the agency or enterprise to borrow from the U.S. Treasury. There can be no assurance that the U.S. Government will always provide financial support to those agencies or enterprises.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Additional Risks to Common Shareholders</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b><i>Generally, an investment in common shares is subject to the following risks:</i></b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Diminished Voting Power and Excess Cash Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The voting power of current shareholders will be diluted to the extent that such shareholders do not purchase shares in any future common share offerings or do not purchase sufficient shares to maintain their percentage interest. In addition, if the Fund is unable to invest the proceeds of such offering as intended, its per share distribution may decrease (or may consist of return of capital) and the Fund may not participate in market advances to the same extent as if such proceeds were fully invested as planned.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Interest Rate Transactions Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may enter into an interest rate swap, cap or floor transaction to attempt to protect itself from increasing dividend or interest expenses on its leverage resulting from increasing short-term interest rates and to hedge its portfolio securities. A decline in interest rates may result in a decline in the value of the swap or cap, which may result in a decline in the net asset value of the Fund.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Depending on the state of interest rates in general, the Fund's use of interest rate swap or cap transactions could enhance or harm the overall performance of the common shares. To the extent there is a decline in interest rates, the value of the interest rate swap or cap could decline, and could result in a decline in the net asset value of the common shares. In addition, if the counterparty to an interest rate swap or cap defaults, the Fund would not be able to use the anticipated net receipts under the swap or cap to offset the dividend or interest payments on the Fund's leverage or offset certain losses in its portfolio.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Depending on whether the Fund would be entitled to receive net payments from the counterparty on the swap or cap, which in turn would depend on the general state of short-term interest rates at that point in time, such a default could negatively impact the performance of the common shares. In addition, at the time an interest rate swap or cap transaction reaches its scheduled termination date, there is a risk that the Fund would not be able to obtain a replacement transaction or that the terms of the replacement would not be as favorable as on the expiring transaction. If either of these events occurs, it could have a negative impact on the performance of the common shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If the Fund fails to maintain a required 200% asset coverage of the liquidation value of any outstanding preferred shares or if the Fund loses its rating on its preferred shares or fails to maintain other covenants with respect to the preferred shares, the Fund may be required to redeem some or all of the preferred shares. Similarly, the Fund could be required to prepay the principal amount of any debt securities or other borrowings. Such redemption or prepayment would likely result in the Fund seeking to terminate early all or a portion of any swap or cap transaction. Early termination of a swap could result in a termination payment by or to the Fund. Early termination of a cap could result in a termination payment to the Fund. The Fund intends to segregate with its custodian cash or liquid securities having a value at least equal to the Fund's net payment obligations under any swap transaction, marked-to-market daily.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Currently, certain categories of interest rate swaps are subject to mandatory clearing, and more are expected to be cleared in the future. The counterparty risk for cleared derivatives is generally lower than for uncleared OTC derivative transactions because generally a clearing organization becomes substituted for each counterparty </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>61</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=65,FOLIO='61',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">to a cleared derivative contract and, in effect, guarantees the parties' performance under the contract as each party to a trade looks only to the clearing house for performance of financial obligations. However, there can be no assurance that a clearing house, or its members, will satisfy the clearing house's obligations to the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Discount Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund's common shares have traded both at a premium and at a discount relative to net asset value. Common shares of closed-end investment companies frequently trade at a discount from net asset value, but in some cases trade above net asset value. The risk of the Fund's common shares trading at a discount is a risk separate from the risk of a decline in the Fund's net asset value as a result of investment activities. The Fund's net asset value may be reduced immediately following this offering by the offering costs for common shares or other securities, which will be borne entirely by all common shareholders.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Whether shareholders will realize a gain or loss upon the sale of the Fund's common shares depends upon whether the market value of the shares at the time of sale is above or below the price the shareholder paid, taking into account transaction costs for the shares, and is not directly dependent upon the Fund's net asset value. Because the market value of the Fund's common shares will be determined by factors such as the relative demand for and supply of the shares in the market, general market conditions and other factors beyond the control of the Fund, the Fund cannot predict whether its common shares will trade at, below or above the Fund's net asset value, or below or above the public offering price for the common shares.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Impact Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The sale of our common shares (or the perception that such sales may occur) may have an adverse effect on prices in the secondary market for our common shares. An increase in the number of common shares available may put downward pressure on the market price for our common shares. These sales also might make it more difficult for us to sell additional equity securities in the future at a time and price the Fund deems appropriate.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Reduction of Leverage Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> We have previously taken, and may in the future take, action to reduce the amount of leverage employed by the Fund. Reduction of the leverage employed by the Fund, including by redemption of preferred shares, will in turn reduce the amount of assets available for investment in portfolio securities. This reduction in leverage may negatively impact our financial performance, including our ability to sustain current levels of distributions on common shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Board reserves the right to change the amount and type of leverage that the Fund uses, and reserves the right to implement changes to the Fund's borrowings that it believes are in the best interests of the Fund, even if such changes impose a higher interest rate or other costs or impacts over the intermediate, or short-term time period. There is no guarantee that the Fund will maintain leverage at the current rate, and the Board reserves the right to raise, decrease, or eliminate the Fund's leverage exposure.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Additional Risks to Senior Security Holders</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b><i>Additional risks of investing in senior securities include the following:</i></b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Generally, an investment in preferred shares (including exchange-listed preferred shares) or debt securities (collectively, "senior securities") is subject to the following risks:</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Decline in Net Asset Value Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> A material decline in the Fund's NAV may impair our ability to maintain required levels of asset coverage for outstanding borrowings or any debt securities or preferred shares.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Early Redemption Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund may voluntarily redeem preferred shares or may be forced to redeem preferred shares to meet regulatory requirements and the asset coverage requirements of the preferred shares. Such redemptions may be at a time that is unfavorable to holders of the preferred shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Inflation Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Inflation is the reduction in the purchasing power of money resulting from an increase in the price of goods and services. Inflation risk is the risk that the inflation adjusted or "real" value of an investment in </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>62</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=66,FOLIO='62',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">preferred stock or debt securities or the income from that investment will be worth less in the future. As inflation occurs, the real value of the preferred stock or debt securities and the dividend payable to holders of preferred stock or interest payable to holders of debt securities declines.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Interest Rate Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Rising market interest rates could impact negatively the value of our investment portfolio, reducing the amount of assets serving as asset coverage for the senior securities. Rising market interest rates could also reduce the value of the Fund's senior securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Discount Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The market price of exchange-listed preferred shares that the Fund may issue may also be affected by such factors as the Fund's use of leverage, dividend stability, portfolio credit quality, liquidity, and the Fund's dividends paid (which are, in turn, affected by expenses), call protection for portfolio securities and interest rate movements.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Ratings and Asset Coverage Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent that senior securities are rated, a rating does not eliminate or necessarily mitigate the risks of investing in our senior securities, and a rating may not fully or accurately reflect all of the credit and market risks associated with that senior security. A rating agency could downgrade the rating of our shares of preferred stock or debt securities, which may make such securities less liquid in the secondary market, though potentially with higher resulting interest rates. If a rating agency downgrades the rating assigned to a senior security, we may alter our portfolio or redeem the senior security. We may voluntarily redeem senior securities under certain circumstances.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Secondary Market Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The market value of exchange-listed preferred shares that the Fund may issue will be determined by factors such as the relative demand for and supply of the preferred shares in the market, general market conditions and other factors beyond the control of the Fund. It may be difficult to predict the trading patterns of preferred shares, including the effective costs of trading. There is a risk that the market for preferred shares may be thinly traded and relatively illiquid compared to the market for other types of securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Senior Leverage Risk.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Preferred shares will be junior in liquidation and with respect to distribution rights to debt securities and any other borrowings. Senior securities representing indebtedness may constitute a substantial lien and burden on preferred shares by reason of their prior claim against our income and against our net assets in liquidation. We may not be permitted to declare dividends or other distributions with respect to any series of preferred shares unless at such time we meet applicable asset coverage requirements and the payment of principal or interest is not in default with respect to any borrowings.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="managementofthefund"></a><b>MANAGEMENT OF THE FUND</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Trustees and Officers</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's Board of Trustees provides broad supervision over the affairs of the Fund. The officers of the Fund are responsible for the Fund's operations. Currently, there are seven Trustees of the Fund, one of whom is an "interested person" of the Fund (as defined in the 1940 Act) and six of whom are not "interested persons." The names and business addresses of the trustees and officers of the Fund and their principal occupations and other affiliations during the past five years are set forth under "Management of the Fund" in the statement of additional information.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investment Adviser</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's investments are managed by Calamos, 2020 Calamos Court, Naperville, Illinois 60563. On January 31, 2021, Calamos managed approximately $33.4 billion in assets of individuals and institutions. Calamos is a wholly-owned subsidiary of Calamos Investments LLC ("CILLC"). Calamos Asset Management, Inc. ("CAM" or the "Company") is the sole manager of CILLC and a wholly-owned subsidiary of Calamos Partners LLC ("CPL" or "Parent"). As of January 31, 2021, approximately 22% of the outstanding equity interest </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>63</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=67,FOLIO='63',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">of CILLC is owned by CAM and the remaining approximately 78% of CILLC is owned by CPL and John P. Calamos, Sr. CPL is owned by Calamos Family Partners, Inc. ("CFP"), John P. Calamos, Sr. and John S. Koudounis. CFP is owned by members of the Calamos family, including John P. Calamos, Sr.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investment Management Agreement</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Subject to the overall supervision and review of the Board of Trustees, Calamos provides the Fund with investment research, advice and supervision and furnishes continuously an investment program for the Fund, consistent with the investment objective and policies of the Fund. In addition, Calamos furnishes for use of the Fund such office space and facilities as the Fund may require for its reasonable needs, supervises the Fund's business and affairs and provides the following other services on behalf of the Fund (not provided by persons not a party to the investment management agreement): (a) preparing or assisting in the preparation of reports to and meeting materials for the Trustees; (b) supervising, negotiating contractual arrangements with, to the extent appropriate, and monitoring the performance of, accounting agents, custodians, depositories, transfer agents and pricing agents, accountants, attorneys, printers, underwriters, brokers and dealers, insurers and other persons in any capacity deemed to be necessary or desirable to Fund operations; (c) assisting in the preparation and making of filings with the Commission and other regulatory and self-regulatory organizations, including, but not limited to, preliminary and definitive proxy materials, registration statements on Form N-2 and amendments thereto, and reports on Form N-CEN and Form N-CSR; (d) overseeing the tabulation of proxies by the Fund's transfer agent; (e) assisting in the preparation and filing of the Fund's federal, state and local tax returns; (f) assisting in the preparation and filing of the Fund's federal excise tax returns pursuant to Section 4982 of the Code; (g) providing assistance with investor and public relations matters; (h) monitoring the valuation of portfolio securities and the calculation of net asset value; (i) monitoring the registration of shares of beneficial interest of the Fund under applicable federal and state securities laws; (j) maintaining or causing to be maintained for the Fund all books, records and reports and any other information required under the 1940 Act, to the extent that such books, records and reports and other information are not maintained by the Fund's custodian or other agents of the Fund; (k) assisting in establishing the accounting policies of the Fund; (l) assisting in the resolution of accounting issues that may arise with respect to the Fund's operations and consulting with the Fund's independent accountants, legal counsel and the Fund's other agents as necessary in connection therewith; (m) reviewing the Fund's bills; (n) assisting the Fund in determining the amount of dividends and distributions available to be paid by the Fund to its shareholders, preparing and arranging for the printing of dividend notices to shareholders, and providing the transfer and dividend paying agent, the custodian, and the accounting agent with such information as is required for such parties to effect the payment of dividends and distributions; and (o) otherwise assisting the Fund as it may reasonably request in the conduct of the Fund's business, subject to the direction and control of the Trustees.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the investment management agreement, the Fund pays to Calamos a fee based on the average weekly managed assets that is computed weekly and payable monthly in arrears. The fee paid by the Fund is set at the annual rate of 0.80% of the Fund's average weekly managed assets. Because the fees paid to Calamos are determined on the basis of the Fund's managed assets, the amount of management fees paid to Calamos when the Fund uses leverage will be higher than if the Fund did not use leverage. Therefore, Calamos has a financial incentive to use leverage, which creates a conflict of interest between Calamos and the Fund's common shareholders. A discussion regarding the basis of the approval of the Investment Management Agreement is available in the Fund's annual report for the year ended October 31, 2020.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the terms of its investment management agreement, except for the services and facilities provided by Calamos as set forth therein, the Fund shall assume and pay all expenses for all other Fund operations and activities and shall reimburse Calamos for any such expenses incurred by Calamos. The expenses borne by the Fund shall include, without limitation: (a) organizational expenses of the Fund (including out-of-pocket expenses, but not including Calamos' overhead or employee costs); (b) fees payable to Calamos; (c) legal expenses; (d) auditing and accounting expenses; (e) maintenance of books and records that are required to be maintained by the Fund's custodian or other agents of the Fund; (f) telephone, telex, facsimile, postage and other communications expenses; (g) taxes and governmental fees; (h) fees, dues and expenses incurred by the Fund in </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>64</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=68,FOLIO='64',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">connection with membership in investment company trade organizations and the expense of attendance at professional meetings of such organizations; (i) fees and expenses of accounting agents, custodians, subcustodians, transfer agents, dividend disbursing agents and registrars; (j) payment for portfolio pricing or valuation services to pricing agents, accountants, bankers and other specialists, if any; (k) expenses of preparing share certificates; (l) expenses in connection with the issuance, offering, distribution, sale, redemption or repurchase of securities issued by the Fund; (m) expenses relating to investor and public relations provided by parties other than Calamos; (n) expenses and fees of registering or qualifying shares of beneficial interest of the Fund for sale; (o) interest charges, bond premiums and other insurance expenses; (p) freight, insurance and other charges in connection with the shipment of the Fund's portfolio securities; (q) the compensation and all expenses (specifically including travel expenses relating to Fund business) of Trustees, officers and employees of the Fund who are not affiliated persons of Calamos; (r) brokerage commissions or other costs of acquiring or disposing of any portfolio securities of the Fund; (s) expenses of printing and distributing reports, notices and dividends to shareholders; (t) expenses of preparing and setting in type, printing and mailing prospectuses and statements of additional information of the Fund and supplements thereto; (u) costs of stationery; (v) any litigation expenses; (w) indemnification of Trustees and officers of the Fund; (x) costs of shareholders' and other meetings; (y) interest on borrowed money, if any; and (z) the fees and other expenses of listing the Fund's shares on Nasdaq or any other national stock exchange.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Portfolio Managers</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>John P. Calamos, Sr.</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> John P. Calamos, Sr. has been President, Trustee and Co-Portfolio Manager of the Fund since inception and for Calamos: Founder, Chairman and Global Chief Investment Officer ("CIO") since August 2016; Chairman and Global CIO from April to August 2016; Chairman, Chief Executive Officer and Global Co-CIO between April 2013 and April 2016; Chief Executive Officer and Global Co-CIO between August 2012 and April 2013; and Chief Executive Officer and Co-CIO prior thereto.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Dennis Cogan.</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Dennis Cogan joined Calamos in March 2005 and since February 2021 has been a Senior Co-Portfolio Manager. From March 2013 to February 2021, he was Co-Portfolio Manager, and from March 2005 to March 2013, he was a senior strategy analyst.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>R. Matthew Freund.</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> R. Matthew Freund joined Calamos in November 2016 as a Co-CIO, Head of Fixed Income Strategies, as well as a Senior Co-Portfolio Manager. Previously, he was SVP of Investment Portfolio Management and Chief Investment Officer at USAA Investments since 2010.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>John Hillenbrand.</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> John Hillenbrand joined Calamos in 2002 and since September 2015 is a Co-CIO, Head of Multi-Asset Strategies and Co-Head of Convertible Strategies, as well as a Senior Co-Portfolio Manager. From March 2013 to September 2015 he was a Co-Portfolio Manager. Between August 2002 and March 2013 he was a senior strategy analyst.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Nick Niziolek.</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Nick Niziolek joined Calamos in March 2005 and has been a Co-CIO, Head of Global Strategies, as well as a Senior Co-Portfolio Manager, since September 2015. Between August 2013 and September 2015, he was a Co-Portfolio Manager, Co-Head of Research. Between March 2013 and August 2013 he was a Co-Portfolio Manager. Between March 2005 and March 2013 he was a senior strategy analyst.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Eli Pars.</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Eli Pars joined Calamos in May 2013 and has been a Co-CIO, Head of Alternative Strategies and Co-Head of Convertible Strategies, as well as Senior Co-Portfolio Manager, since September 2015. Between May 2013 and September 2015, he was a Co-Portfolio Manager. Previously, he was a Portfolio Manager at Chicago Fundamental Investment Partners from February 2009 until November 2012.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Jon Vacko.</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Jon Vacko joined Calamos in June 2000 and has been a Senior Co-Portfolio Manager since September 2015. Previously, he was a Co-Portfolio Manager from August 2013 to September 2015; prior thereto he was a Co-Head of Research and Investments from July 2010 to August 2013.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>65</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=69,FOLIO='65',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Joe Wysocki.</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Joe Wysocki joined Calamos in October 2003 and since February 2021 has been a Senior Co-Portfolio Manager. Previously, Mr. Wysocki was a Co-Portfolio Manager from March 2015 to January 2021; sector head from March 2014 to March 2015; a Co-Portfolio Manager from March 2013 to March 2014; and a senior strategy analyst from February 2007 to March 2013.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos employs a "team of teams" approach to portfolio management, led by the Global CIO and our CIO team consisting of 5 Co-CIOs with specialized areas of investment expertise. The Global CIO and Co-CIO team are responsible for oversight of investment team resources, investment processes, performance and risk. As heads of investment verticals, Co-CIOs manage investment team members and, along with Co-Portfolio Managers, have day-to-day portfolio oversight and construction responsibilities of their respective investment strategies. While investment research professionals within each Co-CIO's team are assigned specific strategy responsibilities, they also provide support to other investment team verticals, creating deeper insights across a wider range of investment strategies. The combination of specialized investment teams with cross team collaboration results in what we call our team of teams approach.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This team of teams approach is further reflected in the composition of Calamos' Investment Committee, made up of the Global CIO, the Co-CIO team, the Head of Global Trading, and the Chief of IT and Operations. Other members of the investment team participate in Investment Committee meetings in connection with specific investment related issues or topics as deemed appropriate.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The structure and composition of the Investment Committee results in a number of benefits, as it:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Leads to broader perspective on investment decisions: multiple viewpoints and areas of expertise feed into consensus;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Promotes collaboration between teams; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Functions as a think tank with the goal of identifying ways to outperform the market on a risk-adjusted basis.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The objectives of the Investment Committee are to:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Form the firm's top-down macro view, market direction, asset allocation, and sector/country positioning.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Establish firm-wide secular and cyclical themes for review.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Review firm-wide and portfolio risk metrics, recommending changes where appropriate.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Review firm-wide, portfolio and individual security liquidity constraints.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Evaluate firm-wide and portfolio investment performance.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Evaluate firm-wide and portfolio hedging policies and execution.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;Evaluate enhancements to the overall investment process.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">John P. Calamos, Sr., Founder, Chairman and Global CIO, is responsible for the day-to-day management of the team, bottom-up research efforts and strategy implementation. R. Matthew Freund, John Hillenbrand, Nick Niziolek, Eli Pars, Dennis Cogan, Jon Vacko and Joe Wysocki are each Sr. Co-Portfolio Managers.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">For over 20 years, the Calamos portfolio management team has managed money for their clients in convertible, high yield and global strategies. Furthermore, Calamos has extensive experience investing in foreign markets through its convertible securities and high yield securities strategies. Such experience has included investments in established as well as emerging foreign markets. The Fund's statement of additional information </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>66</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=70,FOLIO='66',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">provides additional information about the Co-Portfolio Managers, including other accounts they manage, their ownership in the Calamos Family of Funds and their compensation.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Fund Administration and Accounting</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the arrangements with State Street to provide fund accounting services, State Street provides certain administrative and accounting services to the Fund and such other funds advised by Calamos that may be part of those arrangements (the Fund and such other funds are collectively referred to as the "Calamos Funds") as described more fully in the statement of additional information. For the services rendered to the Calamos Funds, State Street receives a fee based on the combined managed assets of the closed-end Calamos Funds and the combined total average daily net assets of the open-end Calamos Funds ("Combined Assets"). Each fund of the Calamos Funds pays its pro rata share of the fees payable to State Street described below based on relative managed assets of each fund. State Street receives a fee at the annual rate of 0.005% for the first $20.0 billion of Combined Assets, 0.004% for the next $10.0 billion of Combined Assets and 0.003% for the Combined Assets in excess of $30.0 billion. Each fund of the Calamos Funds pays its pro-rata share of the fees payable to State Street based on relative Combined Assets of each fund. Because the fees payable to State Street are based on the relative Combined Assets of the Calamos Funds, the fees increase as the Calamos Funds increase their leverage.</font></p>

<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="closedendfundstructure"></a><b>CLOSED-END FUND STRUCTURE</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund is a diversified, closed-end management investment company (commonly referred to as a closed-end fund) which commenced investment operations in June 2002. Closed-end funds differ from open-end management investment companies (which are generally referred to as mutual funds) in that closed-end funds generally list their shares for trading on a stock exchange and do not redeem their shares at the request of the shareholder. This means that if you wish to sell your shares of a closed-end fund you must trade them on the market like any other stock at the prevailing market price at that time. In a mutual fund, if the shareholder wishes to sell shares of the fund, the mutual fund will redeem or buy back the shares at "net asset value." Also, mutual funds generally offer new shares on a continuous basis to new investors, and closed-end funds generally do not. From time to time, the Fund may engage in a continuous at the market offering of its common shares as described in the applicable prospectus supplement. The continuous inflows and outflows of assets in a mutual fund can make it difficult to manage the fund's investments. By comparison, closed-end funds are generally able to stay more fully invested in securities that are consistent with their investment objectives and also have greater flexibility to make certain types of investments and to use certain investment strategies, such as financial leverage and investments in illiquid securities.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Shares of closed-end funds frequently trade at a discount to their net asset value. To the extent the Fund's common shares trade at a discount, the Fund's Board of Trustees may from time to time engage in open-market repurchases or tender offers for shares after balancing the benefit to shareholders of the increase in the net asset value per share resulting from such purchases against the decrease in the assets of the Fund and potential increase in the expense ratio of expenses to assets of the Fund. The Board of Trustees believes that in addition to the beneficial effects described above, any such purchases or tender offers may result in the temporary narrowing of any discount but may not have any long-term effect on the level of any discount. We cannot guarantee or assure, however, that the Fund's Board of Trustees will decide to engage in any of these actions. Nor is there any guarantee or assurance that such actions, if undertaken, would result in the shares trading at a price equal or close to net asset value per share. The Board of Trustees might also consider converting the Fund to an open-end mutual fund, which would also require a vote of the shareholders of the Fund. Conversion of the Fund to an open-end mutual fund would require an amendment to the Fund's Agreement and Declaration of Trust. Such an amendment would require the favorable vote of the holders of at least 75% of the Fund's outstanding shares (including any preferred shares) entitled to be voted on the matter, voting as a single class (or a majority of such shares if the amendment were previously approved, adopted or authorized by 75% of the total number of Trustees fixed in accordance with the By-Laws), and, assuming preferred shares are issued, the affirmative vote of a majority of outstanding preferred shares, voting as a separate class.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>67</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=71,FOLIO='67',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="certainfederalincometaxmatters"></a><b>CERTAIN FEDERAL INCOME TAX MATTERS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following is a summary discussion of certain U.S. federal income tax consequences affecting the Fund and its shareholders and noteholders (as the case may be). The discussion reflects applicable tax laws of the United States as of the date of this prospectus, which tax laws may be changed or subject to new interpretations by the courts or the IRS retroactively or prospectively. No assurance can be given that the IRS would not assert, or that a court would not sustain, a position different from any of the tax aspects set forth below. The specific terms of preferred shares and debt securities may result in different tax consequences to holders than those described herein. Tax matters are very complicated, and the tax consequences of an investment in and holding of our securities will depend on the particular facts of each investor's situation. No attempt is made to present a detailed explanation of all U.S. federal, state, local and foreign tax concerns affecting the Fund and its shareholders and noteholders (including shareholders and noteholders subject to special tax rules and shareholders owning large positions in the Fund), and the discussion set forth herein does not constitute tax advice. Investors are advised to consult their own tax advisers with respect to the application to their own circumstances of the general federal income taxation rules described below and with respect to other federal, state, local or foreign tax consequences applicable to them before making an investment in our securities. Unless otherwise noted, this discussion assumes that investors are U.S. persons and hold our securities as capital assets. More detailed information regarding the U.S. federal income tax consequences of investing in our securities is in the statement of additional information.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Federal Income Taxation of the Fund</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund has elected to be treated, and intends to qualify and to be eligible to be treated each year, as a "regulated investment company" under Subchapter M of the Code, so that it will not pay U.S. federal income tax on income and capital gains timely distributed to shareholders. In order to qualify and be eligible for treatment as a regulated investment company, the Fund must, among other things, satisfy diversification, 90% gross income and distribution requirements. The Fund's failure to qualify and be eligible for treatment as a regulated investment company would result in corporate level taxation, and consequently, a reduction in income available for distribution to shareholders.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If the Fund qualifies as a regulated investment company and distributes to its shareholders at least 90% of the sum of (i) its "investment company taxable income" as that term is defined in the Code (which includes, among other things, dividends, taxable interest, the excess of any net short-term capital gains over net long-term capital losses, taking into account certain capital loss carryforwards and certain net foreign currency exchange gains, less certain deductible expenses) without regard to the deduction for dividends paid, and (ii) the excess of its gross tax-exempt interest, if any, over certain disallowed deductions, the Fund will be relieved of U.S. federal income tax on any income of the Fund, including long-term capital gains, distributed to shareholders. However, if the Fund retains any investment company taxable income or net capital gain (i.e., the excess of net long-term capital gain over net short-term capital loss, taking into account certain capital loss carryforwards), it will be subject to U.S. federal income tax at regular corporate federal income tax rates on the amount retained. The Fund intends to distribute at least annually all or substantially all of its investment company taxable income, net tax-exempt interest, and net capital gain. Under the Code, the Fund will generally be subject to a nondeductible 4% federal excise tax on its undistributed ordinary income and capital gains if it fails to meet certain distribution requirements with respect to each calendar year. The Fund intends to make distributions in a timely manner in amounts necessary to avoid the excise tax and accordingly does not expect to be subject to this tax.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If, for any taxable year, the Fund were not to qualify as a regulated investment company for U.S. federal income tax purposes, it would be treated in the same manner as a regular corporation subject to U.S. federal income tax and distributions to its shareholders would not be deducted by the Fund in computing its taxable income. In such event, the Fund's distributions, to the extent derived from the Fund's current and accumulated earnings and profits, would generally constitute ordinary dividends, which would generally be eligible for the dividends received deduction available to corporate shareholders, and noncorporate shareholders would generally </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>68</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=72,FOLIO='68',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">be able to treat such distributions as "qualified dividend income" eligible for reduced rates of U.S. federal income taxation, provided holding period and other requirements are met.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund could be required to recognize unrealized gains, pay substantial taxes and interest and make substantial distributions before requalifying as a regulated investment company that is accorded special tax treatment.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">From time to time, a substantial portion of the Fund's investments in loans and other debt obligations could be treated as having market discount and/or "original issue discount" ("OID") for U.S. federal income tax purposes, which, in some cases, could be significant and could cause the Fund to recognize income in respect of these investments before or without receiving cash representing such income. If so, the Fund could be required to pay out as an income distribution each year an amount which is greater than the total amount of cash interest the Fund actually received. As a result, the Fund could be required at times to liquidate investments (including at potentially disadvantageous times or prices) in order to satisfy its distribution requirements or to avoid incurring Fund-level U.S. federal income or excise taxes. If the Fund liquidates portfolio securities to raise cash, the Fund may realize gain or loss on such liquidations; in the event the Fund realizes net long-term or short-term capital gains from such liquidation transactions, its shareholders may receive larger capital gain or ordinary dividends, respectively, than they would in the absence of such transactions.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Investments in debt obligations that are at risk of or in default present special tax issues for the Fund. Tax rules are not entirely clear about issues such as whether or to what extent the Fund should recognize market discount on such a debt obligation; when the Fund may cease to accrue interest, OID or market discount; when and to what extent the Fund may take deductions for bad debts or worthless securities; and how the Fund should allocate payments received on obligations in default between principal and income. These and other related issues will be addressed by the Fund when, as, and if it invests in such securities in order to seek to ensure that it distributes sufficient income to preserve its status as a regulated investment company and avoid becoming subject to U.S. federal income or excise tax.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund is permitted to carry forward net capital losses to one or more subsequent taxable years without expiration. Any such carryforward losses will retain their character as short-term or long-term. Capital loss carryforwards are reduced to the extent they offset current-year net realized capital gains, whether the Fund retains or distributes such gains.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain of the Fund's investment practices may be subject to special and complex federal income tax provisions that may, among other things, (i) disallow, suspend or otherwise limit the allowance of certain losses or deductions, (ii) convert tax-advantaged, long-term capital gains and qualified dividend income into higher taxed short-term capital gain or ordinary income, (iii) increase ordinary income distributions, (iv) convert an ordinary loss or a deduction into a capital loss (the deductibility of which is more limited), (v) cause the Fund to recognize income or gain without a corresponding receipt of cash, (vi) adversely affect the timing as to when a purchase or sale of stock or securities is deemed to occur, and (vii) adversely alter the characterization of certain complex financial transactions. The Fund will monitor its transactions and may make certain tax elections where applicable in order to mitigate the effect of these provisions, if possible.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Because the tax treatment and the tax rules applicable to these types of transactions are in some cases uncertain under current law, an adverse determination or future guidance by the IRS with respect to these rules or treatment (which determination or guidance could be retroactive) may affect whether the Fund has made sufficient distributions, and otherwise satisfied the relevant requirements, to maintain its qualification as a regulated investment company and avoid a Fund-level tax.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">It is possible that the Fund's use of derivatives and foreign currency-denominated instruments, and any of the Fund's transactions in foreign currencies and hedging activities, could produce a difference between its book income and the sum of its taxable income (including realized capital gains) and net tax-exempt income (if any). If </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>69</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=73,FOLIO='69',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">such a difference arises, and the Fund's book income is less than the sum of its taxable income (including realized capital gains) and net tax-exempt income (if any), the Fund could be required to make distributions exceeding book income to qualify for treatment as a regulated investment company and to eliminate Fund-level tax. In the alternative, if the Fund's book income exceeds the sum of its taxable income (including realized capital gains) and its net tax-exempt income (if any), the distribution (if any) of such excess generally will be treated as (i) a dividend to the extent of the Fund's remaining current and accumulated earnings and profits (including earnings and profits arising from tax-exempt income), if any, (ii) thereafter, as a return of capital to the extent of the recipient's adjusted tax basis in its shares, and (iii) thereafter, as gain from the sale or exchange of a capital asset.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividends, interest, proceeds and gains received by the Fund on foreign securities may be subject to foreign withholding or other taxes, which would reduce the yield on or return from those investments. If more than 50% of the value of the Fund's assets at the close of the taxable year consists of stock or securities of foreign corporations, the Fund may make an election under the Code to pass through such taxes to shareholders of the Fund. If the Fund is eligible to and makes such an election, shareholders will generally be able (subject to applicable limitations under the Code) to claim a credit or deduction (but not both) on their federal income tax return for, and will be required to treat as part of the amounts distributed to them, their pro rata portion of the income taxes paid by the Fund to foreign countries. If the Fund makes such an election, it will provide relevant information to its shareholders. If such election is not made, shareholders will not be required to include such taxes in their gross incomes and will not be entitled to a tax deduction or credit for such taxes on their own federal income tax returns.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Each prospective investor is urged to consult its tax adviser regarding taxation of foreign securities in the Fund's portfolio and any available foreign tax credits with respect to the prospective investor's own situation.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Federal Income Taxation of Common and Preferred Shareholders</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Federal Income Tax Treatment of Common Share Distributions.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Unless a shareholder is ineligible to participate or elects otherwise, all distributions will be automatically reinvested in additional shares of common stock of the Fund pursuant to the Fund's Automatic Dividend Reinvestment Plan (the "Plan"). For taxpayers subject to U.S. federal income tax, all dividends will generally be taxable regardless of whether a shareholder takes them in cash or they are reinvested pursuant to the Plan in additional shares of the Fund. Distributions of the Fund's investment company taxable income (determined without regard to the deduction for dividends paid) will generally be taxable at ordinary federal income tax rates to the extent of the Fund's current and accumulated earnings and profits. However, a portion of such distributions derived from certain corporate dividends, if any, may qualify for either the dividends received deduction available to corporate shareholders under Section 243 of the Code or the reduced rates of U.S. federal income taxation for "qualified dividend income" currently available to noncorporate shareholders under Section 1(h)(11) of the Code, provided certain holding period and other requirements are met at both the Fund and shareholder levels. Distributions of net capital gains (as defined above), if any, that are properly reported as capital gain dividends are generally taxable as long-term capital gains for U.S. federal income tax purposes without regard to the length of time a shareholder has held shares of the Fund. A distribution of an amount in excess of the Fund's current and accumulated earnings and profits, if any, will be treated by a shareholder as a tax-free return of capital, which is applied against and reduces the shareholder's basis in their shares. Such distributions represent a return of the investor's capital to the extent of his or her basis in the shares, and thus, could potentially subject the shareholder to capital gains taxation in connection with a later sale of Fund shares, even if those shares are sold at a price that is lower than the shareholder's original investment price. To the extent that the amount of any such distribution exceeds the shareholder's basis in their shares, the excess will be treated by the shareholder as gain from the sale or exchange of shares. The U.S. federal income tax status of all dividends and distributions will be reported by the Fund to the shareholders annually.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If the Fund retains any net capital gain, the Fund may report the retained amount as undistributed capital gains to shareholders who, if subject to U.S. federal income tax on long-term capital gains, (i) will be required to </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>70</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=74,FOLIO='70',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">include in income as long-term capital gain their proportionate share of such undistributed amount, and (ii) will be entitled to credit their proportionate share of the federal income tax paid by the Fund on the undistributed amount against their U.S. federal income tax liabilities, if any, and to claim refunds to the extent the credit exceeds such liabilities. If the Fund makes this designation, the tax basis of shares owned by a shareholder of the Fund will, for U.S. federal income tax purposes, generally be increased by the difference between the amount of undistributed net capital gain included in the shareholder's gross income and the federal income tax deemed paid by the shareholder.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If a shareholder's distributions are automatically reinvested pursuant to the Plan and the Plan Agent invests the distribution in shares acquired on behalf of the shareholder in open-market purchases, for U.S. federal income tax purposes, the shareholder will be treated as having received a taxable distribution in the amount of the cash dividend that the shareholder would have received if the shareholder had elected to receive cash. If a shareholder's distributions are automatically reinvested pursuant to the Plan and the Plan Agent invests the distribution in newly issued shares of the Fund, the shareholder will generally be treated as receiving a taxable distribution equal to the fair market value of the stock the shareholder receives.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">At the time of an investor's purchase of the Fund's shares, a portion of the purchase price may be attributable to realized or unrealized appreciation in the Fund's portfolio or undistributed taxable income of the Fund. Consequently, subsequent distributions by the Fund with respect to these shares from such appreciation or income may be taxable to such investor even if the net asset value of the investor's shares is, as a result of the distributions, reduced below the investor's cost for such shares and the distributions economically represent a return of a portion of the investment.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividends declared by the Fund in October, November or December with a record date in such month that are paid during the following January will be treated for U.S. federal income tax purposes as paid by the Fund and received by the shareholders on December 31 of the calendar year in which they were declared.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Federal Income Tax Treatment of Preferred Share Distributions.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under present law, the Fund intends to treat its preferred shares as equity, and, in such case, distributions with respect to preferred shares (other than distributions in redemption of preferred shares subject to Section 302(b) of the Code) will generally constitute dividends to the extent of the Fund's current and accumulated earnings and profits, as calculated for federal income tax purposes. Except in the case of distributions of net capital gain, such dividends generally will be taxable to holders at ordinary federal income tax rates but may qualify for the dividends received deduction available to corporate shareholders under Section 243 of the Code or the reduced rates of U.S. federal income taxation under Section 1(h)(11) of the Code that apply to qualified dividend income received by noncorporate shareholders. Distributions reported by the Fund as net capital gain distributions will be taxable as long-term capital gain regardless of the length of time a shareholder has held shares of the Fund. Please see the discussion above on qualified dividend income, dividends received deductions and net capital gain.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The IRS currently requires that a regulated investment company that has two or more classes of stock allocate to each such class proportionate amounts of each type of its income (such as ordinary income and capital gains). Accordingly, the Fund intends to report distributions made with respect to preferred shares as ordinary income, capital gain distributions, dividends qualifying for the dividends received deduction, if any, and qualified dividend income, if any, in proportion to the preferred shares' share of total dividends paid during the year. See "Certain Federal Income Tax Matters" in the statement of additional information.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Earnings and profits are generally treated, for U.S. federal income tax purposes, as first being used to pay distributions on the preferred shares, and then to the extent remaining, if any, to pay distributions on the common shares. Distributions in excess of the Fund's earnings and profits, if any, will first reduce a shareholder's adjusted tax basis in his or her preferred shares and, after the adjusted tax basis is reduced to zero, will constitute capital gains to a shareholder who holds such shares as a capital asset.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>71</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=75,FOLIO='71',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividends declared by the Fund in October, November or December with a record date in such month that are paid during the following January will be treated for federal income tax purposes as paid by the Fund and received by the shareholders on December 31 of the calendar year in which they were declared.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Sale of Shares.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Sales and other dispositions of the Fund's shares, including a repurchase by the Fund of its shares, generally are taxable events for shareholders that are subject to U.S. federal income tax. Shareholders should consult their own tax advisers with reference to their individual circumstances to determine whether any particular transaction in the Fund's shares is properly treated as a sale or exchange for federal income tax purposes, as the following discussion assumes, and the tax treatment of any gains or losses recognized in such transactions. In particular, a repurchase by the Fund of its shares may be subject to different rules, as discussed in more detail in the statement of additional information. Gain or loss will generally be equal to the difference between the amount of cash and the fair market value of other property received and the shareholder's adjusted tax basis in the shares sold or exchanged. Such gain or loss will generally be characterized as capital gain or loss and will be long-term or short-term depending on the shareholder's holding period in the shares disposed. However, any loss realized by a shareholder upon the sale or other disposition of shares with a federal income tax holding period of six months or less will be treated as a long-term capital loss to the extent of any amounts treated as distributions of long-term capital gain with respect to such shares. The ability to deduct capital losses may be limited.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Gain or loss will generally be long-term capital gain or loss if the shares disposed of were held for more than one year and will be short-term capital gain or loss if the shares disposed of were held for one year or less. Net long-term capital gain recognized by a noncorporate U.S. shareholder generally will be subject to federal income tax at a lower rate than net short-term capital gain or ordinary income. For corporate shareholders, capital gain is generally taxed for federal income tax purposes at the same rate as ordinary income. In addition, losses on sales or other dispositions of shares may be disallowed under the "wash sale" rules in the event that substantially identical stock or securities are treated as acquired by a shareholder (including those made pursuant to reinvestment of dividends) within a period of 61 days beginning 30 days before and ending 30 days after a sale or other disposition of shares by such shareholder. In such a case, the disallowed portion of any loss generally would be included in the U.S. federal tax basis of the shares acquired.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Backup Withholding.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The Fund is required in certain circumstances to withhold federal income tax ("backup withholding") from reportable payments including dividends, capital gain distributions, and proceeds of sales or other dispositions of the Fund's shares paid to certain holders of the Fund's shares who do not furnish the Fund with their correct social security number or other taxpayer identification number and certain other certifications, or who are otherwise subject to backup withholding. Backup withholding is not an additional tax. Any amounts withheld from payments made to a shareholder may be refunded or credited against such shareholder's U.S. federal income tax liability, if any, provided that the required information is furnished to the IRS.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Shares Purchased Through Tax-Qualified Plans.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Special tax rules apply to investments through defined contribution plans and other tax-qualified plans. Shareholders should consult their tax advisers to determine the suitability of shares of the Fund as an investment through such plans and the precise effect of an investment on their particular tax situation.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Taxation of Non-U.S. Shareholders.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> The description of certain federal income tax provisions above relates only to U.S. federal income tax consequences for shareholders who are U.S. persons (i.e., U.S. citizens or resident aliens or U.S. corporations, partnerships, trusts or estates who are subject to U.S. federal income tax on a net income basis). Investors other than U.S. persons, including non-resident alien individuals, may be subject to different U.S. federal income tax treatment. With respect to such persons, the Fund must generally withhold U.S. federal withholding tax at the rate of 30% (or, if the Fund receives certain certifications from a non-U.S. shareholder, such lower rate as prescribed by an applicable tax treaty) on amounts treated as ordinary dividends from the Fund. However, the Fund is not required to withhold tax on any amounts paid to a non-U.S. person with respect to capital gain distributions (i.e., distributions of net capital gain that are properly reported by the Fund as </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>72</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=76,FOLIO='72',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">capital gain dividends), dividends attributable to "qualified short-term gain" (i.e., the excess of net short-term capital gain over net long-term capital loss) reported as such by the Fund and dividends attributable to certain U.S. source interest income of types similar to those not subject to federal withholding tax if earned directly by a non-U.S. person, provided such amounts are properly reported by the Fund. Shareholders should consult their own tax advisers on these matters and on any specific question of U.S. federal, state, local, foreign and other applicable tax laws before making an investment in the Fund.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Federal Income Taxation of Holders of Debt Securities</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Federal Income Tax Treatment of Holders of Debt Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under present law, the Fund intends to treat its debt securities as indebtedness of the Fund for federal income tax purposes, which treatment the discussion below assumes. The Fund intends to treat all payments made with respect to the debt securities consistent with this characterization. The following discussion assumes that all interest on the debt securities will be qualified stated interest (which is generally interest that is unconditionally payable at least annually at a fixed or qualified floating rate), and that the debt securities will have a fixed maturity date of more than one year from the date of issuance.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Taxation of Interest.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Payments or accruals of interest on debt securities generally will be taxable to holders as ordinary interest income at the time such interest is received (actually or constructively) or accrued, in accordance with their regular method of accounting for federal income tax purposes.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Purchase, Sale and Redemption of Debt Securities.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Initially, the tax basis in debt securities acquired generally will be equal to the cost to acquire such debt securities. This basis will be increased by the amounts, if any, that a holder includes in income under the rules governing OID (taking into account any acquisition premium that offsets such OID) and market discount, and will be decreased by the amount of any amortized premium on such debt securities, as discussed below, and any payments on such debt securities other than stated interest. When a holder sells, exchanges or redeems any of their debt securities, or otherwise disposes of their debt securities in a taxable transaction, the holder of the debt securities generally will recognize gain or loss equal to the difference between the amount realized on the transaction (less any accrued and unpaid interest (including OID), which will be subject to federal income tax as interest in the manner described above) and the tax basis in the debt securities relinquished.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Except as discussed below with respect to market discount, the gain or loss recognized on the sale, exchange, redemption or other taxable disposition of any debt securities generally will be capital gain or loss. Such gain or loss will generally be long-term capital gain or loss if the disposed debt securities were held for more than one year and will be short-term capital gain or loss if the disposed debt securities were held for one year or less. A holder's ability to deduct capital losses may be limited.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Amortizable Premium.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> If a holder purchases debt securities at a cost greater than their stated redemption price at maturity, plus accrued interest, the holder will be considered to have purchased the debt securities at a premium, and generally may elect to amortize this premium as an offset to interest income, using a constant yield method, over the remaining term of the debt securities. If the holder makes the election to amortize the premium, it generally will apply to all debt instruments held at the beginning of the first taxable year to which the election applies, as well as any debt instruments subsequently acquired. In addition, the holder may not revoke the election without the consent of the IRS. If the holder elects to amortize the premium, the holder will be required to reduce its tax basis in the debt securities by the amount of the premium amortized during its holding period. If the holder does not elect to amortize premium, the amount of premium will be included in its tax basis in the debt securities. Therefore, if the holder does not elect to amortize the premium and holds the debt securities to maturity, the holder generally will be required to treat the premium as a capital loss when the debt securities are redeemed.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Original Issue Discount.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> If the stated redemption price at maturity of the debt securities exceeds their issue price by at least the statutory </font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>de minimis</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> amount, the debt securities will be treated as being issued with OID for </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>73</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=77,FOLIO='73',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">U.S. federal income tax purposes. In that case, the holder will be required to include such OID in gross income (as ordinary income) as it accrues over the term of the debt securities on a constant-yield basis, in advance of the receipt of cash attributable to that income and regardless of its regular method of accounting for U.S. federal income tax purposes.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Acquisition Premium.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> If a holder purchases debt securities that were issued with OID at a cost greater than their issue price and less than or equal to their stated redemption price at maturity, the holder will be considered to have purchased the debt securities with acquisition premium. Such holder will generally be permitted to reduce the daily portions of OID required to be included in income by a fraction, the numerator of which is the excess of the holder's initial basis in the debt securities over the debt securities' issue price, and the denominator of which is the excess of the redemption price at maturity of the debt securities over their issue price.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market Discount.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> If the holder purchases debt securities in the secondary market at a price that reflects a "market discount," any principal payments on, or any gain realized on the disposition of the debt securities generally will be treated as ordinary interest income to the extent of the market discount that accrued on the debt securities during the time the holder held such debt securities. "Market discount" is defined under the Code as, in general, the excess (subject to a statutory </font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>de minimis</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> amount) of the stated redemption price at maturity (or in the case of an obligation issued with OID, its "revised issue price") over the purchase price of the debt security. In addition, the holder may be required to defer the deduction of all or a portion of any interest paid on any indebtedness incurred or continued to purchase or carry the debt securities that were acquired at a market discount.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The holder may elect to include market discount in gross income currently as it accrues (on either a ratable or constant yield basis), in lieu of treating a portion of any gain realized on a sale of the debt securities as ordinary income. If the holder elects to include market discount on a current basis, the interest deduction deferral rule described above will not apply and the holder will increase its basis in the debt security by the amount of market discount it includes in gross income. If the holder does make such an election, it will apply to all market discount debt instruments that the holder acquires on or after the first day of the first taxable year to which the election applies. This election may not be revoked without the consent of the IRS.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Information Reporting and Backup Withholding.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> In general, information reporting requirements will apply to payments of principal, interest, and premium, if any, paid on debt securities and to the proceeds of the sale of debt securities paid to U.S. holders other than certain exempt recipients (such as certain corporations) provided they establish such exemption. Information reporting generally will apply to payments of interest on the debt securities to non-U.S. Holders (as defined below) and the amount of tax, if any, withheld with respect to such payments. Copies of the information returns reporting such interest payments and any withholding may also be made available to the tax authorities in the country in which the non-U.S. Holder resides under the provisions of an applicable income tax treaty. In addition, for non-U.S. Holders, information reporting will apply to the proceeds of the sale of debt securities within the United States or conducted through United States-related financial intermediaries unless the certification requirements described below have been complied with and the statement described below in "Taxation of Non-U.S. Holders" has been received (and the payor does not have actual knowledge or reason to know that the holder is a United States person) or the holder otherwise establishes an exemption.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may be required to withhold, for U.S. federal income tax purposes, a portion of all payments (including redemption proceeds) payable to holders of debt securities who fail to provide us with their correct taxpayer identification number, who fail to make required certifications or who have been notified by the IRS that they are subject to backup withholding (or if we have been so notified). Certain corporate and other shareholders specified in the Code and the regulations thereunder are exempt from backup withholding. Backup withholding is not an additional tax. Any amounts withheld may be credited against the holder's U.S. federal income tax liability provided the appropriate information is furnished to the IRS.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>74</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=78,FOLIO='74',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A holder who is a non-U.S. Holder may have to comply with certification procedures to establish its non-U.S. status in order to avoid backup withholding tax requirements. The certification procedures required to claim the exemption from withholding tax on interest income described below with respect to non-U.S. Holders will satisfy these requirements.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Taxation of Non-U.S. Holders.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> If a holder is a non-resident alien individual or a foreign corporation (a "non-U.S. Holder"), the payment of interest on the debt securities generally will be considered "portfolio interest" and thus generally will be exempt from U.S. federal withholding tax. This exemption will apply provided that (1) interest paid on the debt securities is not effectively connected with the holder's conduct of a trade or business in the United States, (2) the holder is not a bank whose receipt of interest on the debt securities is described in Section 881(c)(3)(A) of the Code, (3) the holder does not actually or constructively own 10 percent or more of the combined voting power of all classes of the Fund's stock entitled to vote, (4) the holder is not a controlled foreign corporation that is related, directly or indirectly, to the Fund through stock ownership, and (5) the holder satisfies the certification requirements described below.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">To satisfy the certification requirements, either (1) the holder of any debt securities must certify, under penalties of perjury, that such holder is a non-U.S. person and must provide such owner's name, address and taxpayer identification number, if any, on IRS Form W-8BEN or W-8BEN-E, or (2) a securities clearing organization, bank or other financial institution that holds customer securities in the ordinary course of its trade or business and holds the debt securities on behalf of the holder thereof must certify, under penalties of perjury, that it has received a valid and properly executed IRS Form W-8BEN or W-8BEN-E from the beneficial holder and comply with certain other requirements. Special certification rules apply for debt securities held by a foreign partnership and other intermediaries.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Interest on debt securities received by a non-U.S. Holder that is not excluded from U.S. federal withholding tax under the portfolio interest exemption as described above generally will be subject to withholding at a 30% rate, except where (1) the interest is effectively connected with the conduct of a U.S. trade or business, in which case the interest will generally be subject to U.S. income tax on a net basis at graduated rates as applicable to U.S. holders generally (and, in the case of corporate non-U.S. Holders, may be subject to an additional 30% branch profits tax) or (2) a non-U.S. Holder can claim the benefits of an applicable income tax treaty to reduce or eliminate such withholding tax. To claim the benefit of an income tax treaty or to claim an exemption from withholding because the interest is effectively connected with a U.S. trade or business, a non-U.S. Holder must timely provide the appropriate, properly executed IRS forms. These forms may be required to be periodically updated. Also, a non-U.S. Holder who is claiming the benefits of an income tax treaty may be required to obtain a U.S. taxpayer identification number and to provide certain documentary evidence issued by foreign governmental authorities to prove residence in the foreign country.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Any capital gain that a non-U.S. Holder realizes on a sale, exchange or other disposition of debt securities generally will be exempt from United States federal income tax, including withholding tax. This exemption will not apply to a holder whose gain is effectively connected with their conduct of a trade or business in the U.S. or who is an individual holder and is present in the U.S. for a period or periods aggregating 183 days or more in the taxable year of the disposition and, in each case, certain other conditions are met.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">See "Information Reporting and Backup Withholding" above for a general discussion of information reporting and backup withholding requirements applicable to non-U.S. Holders.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Other Tax Matters</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Other Reporting and Withholding Requirements.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Sections 1471-1474 of the Code and the U.S. Treasury and IRS guidance issued thereunder (collectively, "FATCA") generally require the Fund to obtain information sufficient to identify the status of each of its shareholders and holders of its debt securities under FATCA or under an applicable intergovernmental agreement (an "IGA") between the United States and a foreign government. If a </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>75</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=79,FOLIO='75',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">shareholder or holder of debt securities fails to provide the required information or otherwise fails to comply with FATCA or an IGA, the Fund may be required to withhold under FATCA at a rate of 30% with respect to that holder on ordinary dividends and interest payments. The IRS and the Department of Treasury have issued proposed regulations providing that these withholding rules will not be applicable to the gross proceeds of share redemptions or capital gains dividends that the Fund pays. If a payment by the Fund is subject to FATCA withholding, the Fund is required to withhold even if such payment would otherwise be exempt from withholding under the rules applicable to non-U.S. persons. Each prospective investor is urged to consult its tax adviser regarding the applicability of FATCA and any other reporting requirements with respect to the prospective investor's own situation, including investments through an intermediary.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Medicare Tax on Certain Investment Income.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Certain noncorporate taxpayers are subject to an additional tax of 3.8% with respect to the lesser of (1) their "net investment income" (or undistributed "net investment income" in the case of an estate or trust) or (2) the excess of their "modified adjusted gross income" over a threshold amount ($250,000 for married persons filing jointly and $200,000 for single taxpayers). For this purpose, "net investment income" includes interest, dividends (including dividends paid with respect to shares), annuities, royalties, rent, net gain attributable to the disposition of property not held in a trade or business (including net gain from the sale, exchange or other taxable disposition of shares) and certain other income, but will be reduced by any deductions properly allocable to such income or net gain.</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Alternative Minimum Tax</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Investors may be subject to the federal alternative minimum tax on their income (including taxable income from the Fund), depending on their individual circumstances.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="netassetvalue"></a><b>NET ASSET VALUE</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Net asset value per share is determined no less frequently than the close of regular session trading on the NYSE (usually 4:00 p.m., Eastern time), on the last business day in each week, or such other time as the Fund may determine. The NYSE is regularly closed on New Year's Day, the third Mondays in January and February, Good Friday, the last Monday in May, Independence Day, Labor Day, Thanksgiving and Christmas. If the NYSE is closed due to weather or other extenuating circumstances on a day it would typically be open for business, the Fund reserves the right to treat such day as a Business Day and calculate the Fund's NAV as of the normally scheduled close of regular trading on the NYSE or such other time that the Fund may determine, in accordance with applicable law. The Fund reserves the right to close if the primary trading markets of the Fund's portfolio instruments are closed. On any business day when the Securities Industry and Financial Markets Association ("SIFMA") recommends that the securities markets close trading early or when the NYSE closes earlier than scheduled, the Fund may (i) close trading early (as such, the time as of which the NAV is calculated would be advanced) or (ii) calculate its NAV as of, the normally scheduled close of regular trading on the NYSE for that day.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net asset value is calculated by dividing the value of all of the securities and other assets of the Fund, less its liabilities (including accrued expenses and indebtedness) and the aggregate liquidation value of any outstanding preferred shares, by the total number of common shares outstanding. Information that becomes known to the Fund after the time as of which NAV has been calculated on a particular day will not generally be used to retroactively adjust the price of a security or the NAV determined earlier that day. If regular trading on the NYSE closes earlier than scheduled, the Fund reserves the right to either (i) calculate its NAV as of the earlier closing time or (ii) calculate its NAV as of the normally scheduled close of regular trading on the NYSE for that day. The Fund generally does not calculate its NAV on days during which the NYSE is closed. However, if the NYSE is closed on a day it would normally be open for business, the Fund reserves the right to calculate its NAV as of the normally scheduled close of regular trading on the NYSE for that day or such other time that the Fund may determine. Because the Fund may invest in securities that are primarily listed on foreign exchanges and trade on </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>76</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=80,FOLIO='76',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">days when the Fund does not price its shares, the Fund's underlying assets may change in value on days when the NAV is not calculated.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The valuation of the Fund's portfolio securities is in accordance with policies and procedures adopted by and under the ultimate supervision of the Board of Trustees. Securities for which market quotations are readily available will be valued using the market value of those securities. Securities for which market quotations are not readily available will be fair valued in accordance with policies and procedures adopted by and under the ultimate supervision of the Board of Trustees. The method by which a security may be fair valued will depend on the type of security and the circumstances under which the security is being fair valued.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Portfolio securities that are traded on U.S. securities exchanges, except option securities, are valued at the last current reported sales price at the time the Fund determines its NAV. Securities traded in the over-the-counter market and quoted on The Nasdaq Stock Market are valued at the Nasdaq Official Closing Price, as determined by Nasdaq, or lacking a Nasdaq Official Closing Price, the last current reported sale price on Nasdaq at the time the Fund determines its NAV.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">When a last sale or closing price is not available, equity securities, other than option securities, that are traded on a U.S. securities exchange and other equity securities traded in the over-the-counter market are valued at the mean between the most recent bid and asked quotations in accordance with guidelines adopted by the Board of Trustees. Each option security traded on a U.S. securities exchange is valued at the mid-point of the consolidated bid/ask quote for the option security, also in accordance with guidelines adopted by the Board of Trustees. Each over-the-counter option that is not traded through the Options Clearing Corporation is valued based on a quotation provided by the counterparty to such option under the ultimate supervision of the Board of Trustees.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Fixed income securities and certain convertible preferred securities are generally traded in the over-the-counter market and are valued based on evaluations provided by independent pricing services or by dealers who make markets in such securities. Valuations of such fixed income securities and certain convertible preferred securities consider yield or price of equivalent securities of comparable quality, coupon rate, maturity, type of issue, trading characteristics and other market data and do not rely exclusively upon exchange or over-the-counter prices.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Trading on European and Far Eastern exchanges and over-the-counter markets is typically completed at various times before the close of business on each day on which the NYSE is open. Each security trading on these exchanges or over-the-counter markets may be valued utilizing a systematic fair valuation model provided by an independent pricing service approved by the Board of Trustees. The valuation of each security that meets certain criteria in relation to the valuation model is systematically adjusted to reflect the impact of movement in the U.S. market after the foreign markets close. Securities that do not meet the criteria, or that are principally traded in other foreign markets, are valued as of the last reported sale price at the time the Fund determines its NAV, or when reliable market prices or quotations are not readily available, at the mean between the most recent bid and asked quotations as of the close of the appropriate exchange or other designated time. Trading of foreign securities may not take place on every NYSE business day. In addition, trading may take place in various foreign markets on Saturdays or on other days when the NYSE is not open and on which the Fund's NAV is not calculated.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If the pricing committee, whose members are appointed by the Board of Trustees and which is comprised of officers of the Fund and employees of Calamos, determines that the valuation of a security, in accordance with the methods described above, is not reflective of a fair value for such security, the security is valued at a fair value by the pricing committee, under the ultimate supervision of the Board of Trustees, following the guidelines and/or procedures adopted by the Board of Trustees.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>77</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=81,FOLIO='77',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund also may use fair value pricing, pursuant to guidelines adopted by the Board of Trustees and under the ultimate supervision of the Board of Trustees, if trading in a security is halted or if the value of a security it holds is materially affected by events occurring before the Fund's pricing time but after the close of the primary market or exchange on which the security is listed. Those procedures may utilize valuations furnished by pricing services approved by the Board of Trustees, which may be based on market transactions for comparable securities and various relationships between securities that are generally recognized by institutional traders, a computerized matrix system, or appraisals derived from information concerning the securities or similar securities received from recognized dealers in those securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">When fair value pricing of securities is employed, the prices of securities used by the Fund to calculate its NAV may differ from market quotations or official closing prices. In light of the judgment involved in fair valuations, there can be no assurance that a fair value assigned to a particular security is accurate.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="dividendsanddistributions"></a><b>DIVIDENDS AND DISTRIBUTIONS ON COMMON SHARES; <BR>AUTOMATIC DIVIDEND REINVESTMENT PLAN</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Dividends and Distributions on Common Shares</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund intends to distribute to common shareholders all or a portion of its net investment income monthly and net realized capital gains, if any, at least annually.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">On November 4, 2008, the Commission granted Calamos, on behalf of itself and certain registered closed-end funds that it manages, including the Fund, or may manage in the future, an order granting an exemption from Section 19(b) of, and Rule 19b-1 under, the 1940 Act to conditionally permit the Fund to make periodic distributions of long-term capital gains with respect to the Fund's outstanding common shares as frequently as twelve times each year, so long as it complies with the conditions of the order and maintains in effect a distribution policy with respect to its common shares calling for periodic distributions of an amount equal to a fixed amount per share, a fixed percentage of market price per share or a fixed percentage of the Fund's net asset value per share (the "Managed Distribution Policy").</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As of January 1, 2018, the Fund adopted such Managed Distribution Policy. Pursuant to such policy, the Fund currently makes monthly distributions to common shareholders stated in terms of a fixed cent per common share distribution rate that would be composed of, in addition to net investment income, supplemental amounts generally representing realized capital gains or, possibly, returns of capital representing either unrealized capital gains or a return of original investment. Monthly distributions, including such supplemental amounts, are sometimes referred to as "managed distributions."</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will seek to establish a distribution rate that roughly corresponds to the Adviser's projections of the total return that could reasonably be expected to be generated by the Fund over an extended period of time, although the distribution rate will not be solely dependent on the amount of income earned or capital gains realized by the Fund. Calamos, in making such projections, may consider long-term historical returns and a variety of other factors. If, for any monthly distribution, net investment income and net realized capital gains were less than the amount of the distribution, the difference would be distributed from the Fund's assets. In addition, in order to make such distributions, the Fund might have to sell a portion of its investment portfolio at a time when independent investment judgment might not dictate such action. The Fund's final distribution for each calendar year will include any remaining net investment income undistributed during the year and may include any remaining net realized capital gains undistributed during the year. The Fund's actual financial performance will likely vary significantly from quarter-to-quarter and from year-to-year, and there may be extended periods of up to several years when the distribution rate will exceed the Fund's actual total returns. The Fund's projected or actual distribution rate is not a prediction of what the Fund's actual total returns will be over any specific future period.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>78</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=82,FOLIO='78',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As portfolio and market conditions change, the rate of distributions on the common shares and the Fund's distribution policy could change. To the extent that the total return of the Fund exceeds the distribution rate for an extended period, the Fund may be in a position to increase the distribution rate or distribute supplemental amounts to shareholders. Conversely, if the total return of the Fund is less than the distribution rate for an extended period of time, the Fund will effectively be drawing upon its net assets to meet payments prescribed by its distribution policy. The rate may be modified by the Fund's Board from time to time.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">To the extent the Fund distributes an amount in excess of the Fund's current and accumulated earnings and profits, such excess, if any (the "Excess"), will be treated by a shareholder for federal income tax purposes as a tax-free return of capital to the extent of the shareholder's adjusted tax basis in their shares and thereafter as a gain from the sale or exchange of such shares. See "Certain Federal Income Tax Matters." Any such distributions made by the Fund will reduce the shareholder's adjusted tax basis in their shares to the extent that the distribution constitutes a return of capital during any calendar year, and thus could potentially subject the shareholder to capital gains taxation in connection with the sale of Fund shares, even if those shares are sold at a price that is lower than the shareholder's original investment price. To the extent that the Fund's distributions exceed the Fund's current and accumulated earnings and profits, the distribution payout rate will exceed the yield generated from the Fund's investments. There is no guarantee that the Fund will realize capital gain in any given year, nor that the Fund's distribution rates will equal in any period the Fund's net investment income. Pursuant to the requirements of the 1940 Act and other applicable laws, a notice will accompany each monthly distribution with respect to the estimated source of the distribution made. Distributions are subject to recharacterization for federal income tax purposes after the end of the fiscal year.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">For U.S. federal income tax purposes, the Fund is required to distribute substantially all of its net investment income and net realized capital gains each year to both reduce its federal income tax liability and to avoid a potential excise tax. Accordingly, the Fund intends to distribute all or substantially all of its net investment income and all net realized capital gains, if any. Therefore, the Fund's final distribution with respect to each calendar year would include any remaining net investment income and net realized capital gains, if any, undistributed during the year.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In the event the Fund distributed an Excess, such distribution would decrease the Fund's managed assets and, therefore, have the likely effect of increasing the Fund's expense ratio. There is a risk that the Fund would not eventually realize capital gains in an amount corresponding to a distribution of the Excess.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Pursuant to and in reliance on the order granted by the Commission, under the Managed Distribution Policy, the Fund is required to:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;implement certain compliance review and reporting procedures with respect to the Managed Distribution Policy;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;include in each notice to shareholders that accompanies distributions certain information in addition to the information currently required by Section 19(a) of and Rule 19a-1 under the 1940 Act;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;include disclosure regarding the Managed Distribution Policy on the inside front cover of each annual and semi-annual report to shareholders;</font></p>


<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;provide the Fund's total return in relation to changes in NAV in the financial highlights table and in any discussion about the Fund's total return in each prospectus and annual and semi-annual report to shareholders; include the information contained in each notice to shareholders that accompanies distributions in: (a) communications regarding the Managed Distribution Policy to shareholders, prospective shareholders and third-party information providers; (b) a press release issued contemporaneously with the issuance of the notice; (c) an exhibit to the Fund's next report filed with the Commission on Form N-CSR; and (d) a statement posted prominently on its website; and</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>79</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=83,FOLIO='79',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;take certain steps to ensure the delivery of the notices accompanying distributions to beneficial owners whose Fund shares are held through a financial intermediary.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, if the Fund's common shares were to trade at a significant premium to NAV following the implementation of the Managed Distribution Policy, and certain other circumstances were present, the Fund's Board of Trustees would be required to determine whether to approve or disapprove the continuation, or continuation after amendment, of the Managed Distribution Policy. Finally, pursuant to the order, the Fund would not be permitted to make a public offering of common shares other than:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;a rights offering below NAV to holders of the Fund's common shares;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;an offering in connection with a dividend reinvestment plan, merger, consolidation, acquisition, spin-off or reorganization of the Fund; or</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;an offering other than those described above, unless, with respect to such other offering:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the Fund's average annual distribution rate for the six months ending on the last day of the month ended immediately prior to the most recent distribution record date, expressed as a percentage of NAV per share as of such date, is no more than one percentage point greater than the Fund's average annual total return for the five-year period ending on such date; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the transmittal letter accompanying any registration statement filed with the Commission in connection with such offering discloses that the Fund has received an order under Section 19(b) of the 1940 Act to permit it to make periodic distributions of long-term capital gains with respect to its common stock as frequently as twelve times each year, and as frequently as distributions are specified in accordance with the terms of any outstanding preferred stock that such fund may issue.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The relief described above will expire on the effective date of any amendment to Rule 19b-1 under the 1940 Act that provides relief permitting certain closed-end investment companies to make periodic distributions of long-term capital gains with respect to their outstanding common stock as frequently as twelve times each year. Under the Managed Distribution Policy, if, for any distribution, undistributed net investment income and net realized capital gains were less than the amount of the distribution, the difference would be distributed from the Fund's other assets. In addition, in order to make such distributions, the Fund might have to sell a portion of its investment portfolio at a time when independent investment judgment might not dictate such action.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the 1940 Act, the Fund is not permitted to incur indebtedness unless immediately after such incurrence the Fund has an asset coverage of at least 300% of the aggregate outstanding principal balance of indebtedness. Additionally, under the 1940 Act, the Fund generally may not declare any dividend or other distribution upon any class of its shares, or purchase any such shares, unless the aggregate indebtedness of the Fund has, at the time of the declaration of any such dividend or distribution or at the time of any such purchase, an asset coverage of at least 300% after deducting the amount of such dividend, distribution, or purchase price, as the case may be, except that dividends may be declared upon any preferred shares if such indebtedness has an asset coverage of at least 200% at the time of declaration thereof after deducting the amount of the dividend. This limitation does not apply to certain privately placed debt.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">While any preferred shares are outstanding, the Fund may not declare any dividend or other distribution on its common shares, unless at the time of such declaration, (1) all accumulated preferred dividends have been paid and (2) the net asset value of the Fund's portfolio (determined after deducting the amount of such dividend or other distribution) is at least 200% of the liquidation value of the outstanding preferred shares (expected to be equal to the original purchase price per share plus any accumulated and unpaid dividends thereon).</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition to the limitations imposed by the 1940 Act described above, certain lenders may impose additional restrictions on the payment of dividends or distributions on common shares in the event of a default on the Fund's borrowings. If the Fund's ability to make distributions on its common shares is limited, such limitation </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>80</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=84,FOLIO='80',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">could, under certain circumstances, impair the ability of the Fund to maintain its qualification for federal income taxation as a regulated investment company and to reduce or eliminate tax at the Fund level, which would have adverse tax consequences for shareholders. See "Leverage" and "Certain Federal Income Tax Matters."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">See " &#151; Automatic Dividend Reinvestment Plan" for information concerning the manner in which dividends and distributions to common shareholders may be automatically reinvested in common shares. Dividends and distributions are taxable to shareholders for federal income tax purposes whether they are reinvested in shares of the Fund or received in cash.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The yield on the Fund's common shares may vary from period to period depending on factors including, but not limited to, market conditions, the timing of the Fund's investment in portfolio securities, the securities comprising the Fund's portfolio, changes in interest rates including changes in the relationship between short-term rates and long-term rates, the amount and timing of the use of borrowings and other leverage by the Fund, the effects of leverage on the common shares discussed above under "Leverage," the timing of the investment of leverage proceeds in portfolio securities, the Fund's net assets and its operating expenses. Consequently, the Fund cannot guarantee any particular yield on its common shares and the yield for any given period is not an indication or representation of future yields on the Fund's common shares.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Automatic Dividend Reinvestment Plan</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Pursuant to the Plan, unless a common shareholder is ineligible or elects otherwise, all dividend and capital gains on common shares distributions are automatically reinvested by Computershare Shareowner Services LLC, a subsidiary of Computershare Limited, as agent for shareholders in administering the Plan ("Plan Agent"), in additional common shares of the Fund. Shareholders who elect not to participate in the Plan will receive all dividends and distributions payable in cash paid by check mailed directly to the shareholder of record (or, if the shares are held in street or other nominee name, then to such nominee) by Plan Agent, as dividend paying agent. Shareholders may elect not to participate in the Plan and to receive all dividends and distributions in cash by sending written instructions to Plan Agent, as dividend paying agent, at the address set forth below. Participation in the Plan is completely voluntary and may be terminated or resumed at any time without penalty by giving notice in writing to the Plan Agent; such termination will be effective with respect to a particular dividend or distribution if notice is received prior to the record date for the applicable distribution.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Whenever the Fund declares a dividend or distribution payable either in common shares or in cash, non participants in the Plan will receive cash, and participants in the Plan will receive the equivalent in shares of common shares. The common shares are acquired by the Plan Agent for the participant's account, depending upon the circumstances described below, either (i) through receipt of additional common shares from the Fund ("newly issued shares") or (ii) by purchase of outstanding common shares on the open market ("open-market purchases") on Nasdaq or elsewhere. If, on the payment date, the net asset value per share of the common shares is equal to or less than the market price per common share plus estimated brokerage commissions (such condition being referred to herein as "market premium"), the Plan Agent will receive newly issued common shares from the Fund for each participant's account. The number of newly issued common shares to be credited to the participant's account will be determined by dividing the dollar amount of the dividend or distribution by the greater of (i) the net asset value per common share on the payment date, or (ii) 95% of the market price per common share on the payment date.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If, on the payment date, the net asset value per common share exceeds the market price plus estimated brokerage commissions (such condition being referred to herein as "market discount"), the Plan Agent has until the last business day before the next date on which the shares trade on an "ex-dividend" basis or in no event more than 30 days after the payment date ("last purchase date") to invest the dividend or distribution amount in shares acquired in open-market purchases. It is contemplated that the Fund will pay monthly income dividends. Therefore, the period during which open-market purchases can be made will exist only from the payment date on the dividend through the date before the next ex-dividend date, which typically will be approximately ten days. If, </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>81</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=85,FOLIO='81',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">before the Plan Agent has completed its purchases, the market price plus estimated brokerage commissions exceeds the net asset value of the common shares as of the payment date, the purchase price paid by Plan Agent may exceed the net asset value of the common shares, resulting in the acquisition of fewer common shares than if such dividend or distribution had been paid in common shares issued by the Fund. The weighted average price (including brokerage commissions) of all common shares purchased by the Plan Agent as Plan Agent will be the price per common share allocable to each participant. If, before the Plan Agent has completed its open-market purchases, the market price of a common share exceeds the net asset value per share, the average per share purchase price paid by the Plan Agent may exceed the net asset value of the Fund's shares, resulting in the acquisition of fewer shares than if the dividend had been paid in newly issued shares on the payment date. Because of the foregoing difficulty with respect to open-market purchases, the Plan provides that if the Plan Agent is unable to invest the full dividend amount in open-market purchases during the purchase period or if the market discount shifts to a market premium during the purchase period, the Plan Agent will cease making open-market purchases and will invest the uninvested portion of the dividend or distribution amount in newly issued shares at the net asset value per common share at the close of business on the last purchase date.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Plan Agent maintains all shareholders' accounts in the Plan and furnishes written confirmation of each acquisition made for the participant's account as soon as practicable, but in no event later than 60 days after the date thereof. Shares in the account of each Plan participant will be held by the Plan Agent in non-certificated form in the Plan Agent's name or that of its nominee, and each shareholder's proxy will include those shares purchased or received pursuant to the Plan. The Plan Agent will forward all proxy solicitation materials to participants and vote proxies for shares held pursuant to the Plan first in accordance with the instructions of the participants then with respect to any proxies not returned by such participant, in the same proportion as the Plan Agent votes the proxies returned by the participants.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">There will be no brokerage charges with respect to common shares issued directly by the Fund as a result of dividends or distributions payable either in shares or in cash. However, each participant will pay a pro rata share of brokerage commissions incurred with respect to the Plan Agent's open-market purchases in connection with the reinvestment of dividends or distributions. If a participant elects to have the Plan Agent sell part or all of his or her common shares and remit the proceeds, such participant will be charged his or her pro rata share of brokerage commissions on the shares sold, plus a $15.00 transaction fee.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The automatic reinvestment of dividends and distributions will not relieve participants of any federal, state or local income tax that may be payable (or required to be withheld) on such dividends. See "Certain Federal Income Tax Matters."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Shareholders participating in the Plan may receive benefits not available to shareholders not participating in the Plan. If the market price plus commissions of the Fund's shares is higher than the net asset value, participants in the Plan will receive shares of the Fund at less than they could otherwise purchase them and will have shares with a cash value greater than the value of any cash distribution they would have received on their shares. If the market price plus commissions is below the net asset value, participants receive distributions of shares with a net asset value greater than the value of any cash distribution they would have received on their shares. However, there may be insufficient shares available in the market to make distributions in shares at prices below the net asset value. Also, since the Fund does not redeem its shares, the price on resale may be more or less than the net asset value. See "Certain Federal Income Tax Matters" for a discussion of federal income tax consequences of the Plan.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Experience under the Plan may indicate that changes are desirable. Accordingly, the Fund reserves the right to amend or terminate the Plan if in the judgment of the Board of Trustees such a change is warranted. The Plan may be terminated by the Plan Agent or the Fund upon notice in writing mailed to each participant at least 60 days prior to the effective date of the termination. Upon any termination, the Plan Agent will cause a certificate or certificates to be issued for the full shares held by each participant under the Plan and cash adjustment for any fraction of a common share at the then current market value of the common shares to be </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>82</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=86,FOLIO='82',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">delivered to him or her. If preferred, a participant may request the sale of all of the common shares held by the Plan Agent in his or her Plan account in order to terminate participation in the Plan. If such participant elects in advance of such termination to have the Plan Agent sell part or all of his or her shares, the Plan Agent is authorized to deduct from the proceeds a $15.00 fee plus the brokerage commissions incurred for the transaction. If a participant has terminated his or her participation in the Plan but continues to have common shares registered in his or her name, he or she may re-enroll in the Plan at any time by notifying the Plan Agent in writing at the address below. The terms and conditions of the Plan may be amended by the Plan Agent or the Fund at any time but, except when necessary or appropriate to comply with applicable law or the rules or policies of the Commission or any other regulatory authority, only by mailing to each participant appropriate written notice at least 30 days prior to the effective date thereof. The amendment shall be deemed to be accepted by each participant unless, prior to the effective date thereof, the Plan Agent receives notice of the termination of the participant's account under the Plan. Any such amendment may include an appointment by the Plan Agent of a successor Plan Agent, subject to the prior written approval of the successor Plan Agent by the Fund. There is no direct service charge to participants in the Plan; however, the Fund reserves the right to amend the Plan to include a service charge payable by the participants. Since investors can participate in the Plan only if their broker or nominee participates in our Plan, you should contact your broker or nominee to confirm that you are eligible to participate in the Plan.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">For more information, please direct all correspondence concerning the Plan to the Plan Agent at P.O. Box 505000, Louisville, KY 40233-5000</font></p>

<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="descriptionofsecurities"></a><b>DESCRIPTION OF SECURITIES</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following is a brief description of the capital structure of the Fund. This description does not purport to be complete and is subject to and qualified in its entirety by reference to the Fund's Agreement and Declaration of Trust and By-Laws, each as amended and restated through the date hereof. The Agreement and Declaration of Trust and By-Laws are each exhibits to the registration statement of which this prospectus is a part.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund is authorized to issue an unlimited number of common shares, without par value. The Fund is also authorized to issue preferred shares and debt securities. As of January 31, 2021, the Fund had 70,923,815 common shares outstanding and MRP Shares outstanding in the following amounts: 1,330,000 Series A MRP Shares, 1,330,000 Series B MRP Shares, and 1,340,000 Series C MRP Shares. As of such date, the Fund had not issued any debt securities. Subject to the restrictions under the 1940 Act, the Board of Trustees may, from time to time, establish additional series or classes of Fund shares and set forth the designations, preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications or terms or conditions of redemption of such shares and pursuant to such classification or reclassification to increase or decrease the number of authorized shares of any existing class or series but the Board may not change any outstanding shares in a manner materially adverse to such shareholders. The Board of Trustees, without shareholder approval but subject to the governing documents of the Fund and the MRP Shares, is authorized to amend the Agreement and Declaration of Trust and By-Laws to reflect the terms of any such class or series.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As of January 31, 2021, the Fund had total leverage of approximately $472.4 million representing approximately 30.6% of the Fund's managed assets as of that date. The Fund will pay, and common shareholders will effectively bear, any costs and expenses relating to any borrowings by the Fund, including the financial leverage described above, as well as any additional leverage incurred as a result of this offering. Such costs and expenses include the higher management fee resulting from the use of any such leverage, offering and/or issuance costs, and interest and/or dividend expense and ongoing maintenance. Borrowings under the SSB Agreement are secured by assets of the Fund that are held with the Fund's custodian in a separate account. Interest on the SSB Agreement is charged on the drawn amount at the rate of Overnight LIBOR plus 0.80%, payable monthly in arrears. Interest on overdue amounts or interest on the drawn amount paid during an event of default will be </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>83</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=87,FOLIO='83',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">charged at Overnight LIBOR plus 2.8%. The SSB Agreement has a commitment fee of 0.10% of any undrawn amount. As of January 31, 2021, the interest rate charged under the SSB Agreement was 0.88%.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the terms of the SSB Agreement, all securities lent or subject to repurchase transactions through SSB must be secured continuously by collateral received in cash. Cash collateral held by SSB on behalf of the Fund may be credited against the amounts borrowed under the SSB Agreement, with the effect of reducing interest expense payable by the Fund. Any amounts credited against the borrowings under the SSB Agreement would count against the Fund's leverage limitations under the 1940 Act, unless otherwise covered in accordance with SEC Release IC-10666. Under the terms of the SSB Agreement, SSB will return the value of the collateral to the borrower upon the return of the lent securities, which will eliminate the credit against the borrowings under the SSB Agreement and will increase the balance on which the Fund will pay interest. Under the terms of the SSB Agreement, the Fund will make a variable "net income" payment related to any collateral credited against the borrowings under the SSB Agreement which will be paid to the securities borrower, less any payments due to the Fund or SSB under the terms of the SSB Agreement. The Fund reserves the right to utilize sources of borrowings in addition to, or in lieu of, the SSB Agreement. See "Prospectus Summary &#151; Use of Leverage by the Fund."</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">While unsecured and unsubordinated indebtedness may rank equally with the borrowings under the SSB Agreement in right of payment, the lender under the agreement, together with the holders of other outstanding secured indebtedness, may, to the exclusion of unsecured creditors, seek recourse against the collateral as security for the borrowings and such other secured indebtedness until amounts owed under the SSB Agreement and the other secured indebtedness are satisfied in full. All borrowings under the SSB Agreement and the securities lending agreement rank senior to the Fund's common and preferred shares as to the payment of interest and distribution of assets upon liquidation.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A declaration of a dividend or other distribution on or purchase or redemption of any common or preferred shares of the Fund may be prohibited (i) at any time that an event of default under any borrowings has occurred and is continuing, or (ii) if after giving effect to such declaration, purchase or redemption, the Fund would not meet the 1940 Act asset coverage requirements or any temporary requirements imposed under an order issued by the SEC.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Common Shares</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Common shares, when issued and outstanding, will be legally issued, fully paid and non-assessable and will have no preemptive or conversion rights or rights to cumulative voting, except as described below. The Board has not granted such common shares conversion rights. Shareholders are entitled to share pro rata in the net assets of the Fund available for distribution to common shareholders upon liquidation of the Fund. Common shareholders are entitled to one vote for each share held.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's Agreement and Declaration of Trust provides that the Trustees have the power to cause each shareholder to pay directly, in advance or arrears, for charges of the Fund's custodian or transfer, shareholder servicing or similar agent, an amount fixed from time to time by the Trustees, by setting off such charges due from a shareholder from declared but unpaid dividends owed to such shareholder and/or by reducing the number of shares in the account of such shareholder.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">So long as any preferred shares that may be issued by the Fund are outstanding, holders of common shares will not be entitled to receive any net income of or other distributions from the Fund unless all accumulated dividends on preferred shares have been paid, and unless asset coverage (as defined in the 1940 Act) with respect to preferred shares would be at least 200% after giving effect to such distributions. See "Leverage."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will send unaudited semi-annual financial statements and audited annual financial statements to all of its shareholders.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>84</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=88,FOLIO='84',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Other offerings of common shares, if made, will require approval of the Board of Trustees and will be subject to the requirement of the 1940 Act that common shares may not be sold at a price below the then-current net asset value, exclusive of underwriting discounts and commissions, except in limited circumstances including in connection with an offering to existing shareholders. Common shares may be sold in one or more at the market offerings through sales on Nasdaq at a price equal to or above the Fund's per share NAV plus any sales commissions paid by the Fund to execute such sales.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Preferred Shares</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred shares, when issued and outstanding, will be legally issued, fully paid and non-assessable. Holders of preferred shares will be entitled to the rights and preferences set out in the documents creating the preferred shares. As a non-fundamental policy, the Fund may not issue preferred shares or borrow money and/or issue debt securities with an aggregate liquidation preference and aggregate principal amount exceeding 38% of the Fund's managed assets. However, the Board of Trustees reserves the right to issue preferred shares to the extent permitted by the 1940 Act, which currently limits the aggregate liquidation preference of all outstanding preferred shares to 50% of the value of the Fund's total assets less the Fund's liabilities and indebtedness not represented by senior securities. Under the 1940 Act, the Fund may only issue one class of preferred shares. So long as any preferred shares are outstanding, additional issuances of preferred shares may not have preference or priority over the outstanding preferred shares.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Fund, the holders of preferred shares will be entitled to receive a preferential liquidating distribution, which is expected to equal the original purchase price per preferred share plus accumulated and unpaid dividends, whether or not declared, before any distribution of assets is made to holders of common shares. After payment of the full amount of the liquidating distribution to which they are entitled, the holders of preferred shares will not be entitled to any further participation in any distribution of assets by the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The 1940 Act requires that the holders of any preferred shares, voting separately as a single class, have the right to elect at least two Trustees at all times. The remaining Trustees will be elected by holders of common shares and preferred shares, voting together as a single class. In addition, subject to the prior rights, if any, of the holders of any other class of senior securities outstanding, the holders of any preferred shares have the right to elect a majority of the Trustees at any time two years' accumulated dividends on any preferred shares are unpaid. The 1940 Act also requires that, in addition to any approval by shareholders that might otherwise be required, the approval of the holders of a majority of any outstanding preferred shares, voting separately as a class, would be required to (1) adopt any plan of reorganization that would adversely affect the preferred shares, and (2) take any action requiring a vote of security holders under Section 13(a) of the 1940 Act, including, among other things, changes in the Fund's subclassification as a closed-end investment company or changes in its fundamental investment restrictions. See "Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions." As a result of these voting rights, the Fund's ability to take any such actions may be impeded to the extent that there are any preferred shares outstanding. Except as otherwise indicated in this prospectus and except as otherwise required by applicable law, holders of preferred shares have equal voting rights with holders of common shares (one vote per share, unless otherwise required by the 1940 Act) and will vote together with holders of common shares as a single class.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The affirmative vote of the holders of a majority of the outstanding preferred shares, voting as a separate class, will be required to amend, alter or repeal any of the preferences, rights or powers of holders of preferred shares so as to affect materially and adversely such preferences, rights or powers, or to increase or decrease the authorized number of preferred shares. The class vote of holders of preferred shares described above will in each case be in addition to any other vote required to authorize the action in question.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Any redemption or purchase of any preferred shares by the Fund will reduce the leverage applicable to the common shares, while any resale of shares by the Fund will increase that leverage.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>85</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=89,FOLIO='85',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred shares that may be issued by the Fund may or may not be listed on an exchange or automated quotation system. The details on how to buy and sell such securities, along with the other terms of the securities, will be described in a prospectus supplement. We cannot assure you that any market will exist for our preferred securities or if a market does exist, whether it will provide holders with liquidity.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Debt Securities</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>General.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under Delaware law and the Fund's Agreement and Declaration of Trust, it may borrow money, without prior approval of holders of common and preferred shares. The Fund may issue debt securities, or other evidence of indebtedness (including bank borrowings or commercial paper) and may secure any such notes or borrowings by mortgaging, pledging or otherwise subjecting as security our assets to the extent permitted by the 1940 Act or rating agency guidelines. Any borrowings will rank senior to preferred shares and the common shares.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the 1940 Act, the Fund may only issue one class of senior securities representing indebtedness other than promissory notes or other evidences of indebtedness not intended to be publicly distributed, which in the aggregate, may represent no more than 33 1/3% of our managed assets. A prospectus supplement and indenture (a summary of the expected terms of which is attached as Appendix A to the statement of additional information) relating to any debt securities will include specific terms relating to the offering. These terms are expected to include the following:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the form and title of the security;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the aggregate principal amount of the securities;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the interest rate of the securities;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the maturity dates on which the principal of the securities will be payable;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;any changes to or additional events of default or covenants;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;any optional or mandatory redemption provisions;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;identities of, and any changes in trustees, paying agents or security registrar; and</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;any other terms of the securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Interest.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Unless otherwise stated in a prospectus supplement, debt securities will bear interest as generally determined by the Board of Trustees, as more fully described in the related prospectus supplement. Interest on debt securities shall be payable when due as described in the related prospectus supplement. If we do not pay interest when due, it will trigger an event of default and we will be restricted from declaring dividends and making other distributions with respect to our common shares and preferred shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Limitations.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under the requirements of the 1940 Act, immediately after issuing any senior securities representing indebtedness, we must have an asset coverage of at least 300%. Asset coverage means the ratio which the value of our total assets, less all liabilities and indebtedness not represented by senior securities, bears to the aggregate amount of senior securities representing indebtedness. Other types of borrowings also may result in our being subject to similar covenants in credit agreements.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Events of Default and Acceleration of Maturity of Debt Securities; Remedies.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Unless stated otherwise in the related prospectus supplement, any one of the following events are expected to constitute an "event of default" for that series under the indenture:</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;default in the payment of any interest upon a series of debt securities when it becomes due and payable and the continuance of such default for 30 days;</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>86</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=90,FOLIO='86',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;default in the payment of the principal of, or premium on, a series of debt securities at its stated maturity;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;default in the performance, or breach, of any covenant or warranty of ours in the indenture, and continuance of such default or breach for a period of 90 days after written notice has been given to us by the trustee;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;certain voluntary or involuntary proceedings involving us and relating to bankruptcy, insolvency or other similar laws;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;if, on the last business day of each of twenty-four consecutive calendar months, the debt securities have a 1940 Act asset coverage of less than 100%; or</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;any other "event of default" provided with respect to a series, including a default in the payment of any redemption price payable on the redemption date.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Upon the occurrence and continuance of an event of default, the holders of a majority in principal amount of a series of outstanding debt securities or the trustee may declare the principal amount of that series of debt securities immediately due and payable upon written notice to us. A default that relates only to one series of debt securities does not affect any other series and the holders of such other series of debt securities are not entitled to receive notice of such a default under the indenture. Upon an event of default relating to bankruptcy, insolvency or other similar laws, acceleration of maturity occurs automatically with respect to all series. At any time after a declaration of acceleration with respect to a series of debt securities has been made, and before a judgment or decree for payment of the money due has been obtained, the holders of a majority in principal amount of the outstanding debt securities of that series, by written notice to us and the trustee, may rescind and annul the declaration of acceleration and its consequences if all events of default with respect to that series of debt securities, other than the non-payment of the principal of that series of debt securities which has become due solely by such declaration of acceleration, have been cured or waived and other conditions have been met.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Liquidation Rights.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> In the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to us or to our creditors, as such, or to our assets, or (b) any liquidation, dissolution or other winding up of the Fund, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of ours, then (after any payments with respect to any secured creditor of ours outstanding at such time) and in any such event the holders of debt securities shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all debt securities (including any interest accruing thereon after the commencement of any such case or proceeding), or provision shall be made for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of the debt securities, before the holders of any common or preferred stock of the Fund are entitled to receive any payment on account of any redemption proceeds, liquidation preference or dividends from such shares. The holders of debt securities shall be entitled to receive, for application to the payment thereof, any payment or distribution of any kind or character, whether in cash, property or securities, including any such payment or distribution which may be payable or deliverable by reason of the payment of any other indebtedness of ours being subordinated to the payment of the debt securities, which may be payable or deliverable in respect of the debt securities in any such case, proceeding, dissolution, liquidation or other winding up event.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Unsecured creditors of ours may include, without limitation, service providers including Calamos, the Fund's custodian, the Fund's administrator, broker-dealers and the trustee, pursuant to the terms of various contracts with us. Secured creditors of ours may include without limitation SSB and other lenders to the Fund, parties entering into any interest rate swap, floor or cap transactions, or other similar transactions with us that create liens, pledges, charges, security interests, security agreements or other encumbrances on our assets.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>87</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=91,FOLIO='87',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A consolidation, reorganization or merger of the Fund with or into any other company, or a sale, lease or exchange of all or substantially all of our assets in consideration for the issuance of equity securities of another company shall not be deemed to be a liquidation, dissolution or winding up of the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Voting Rights.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Debt securities have no voting rights, except to the extent required by law or as otherwise provided in the indenture relating to the acceleration of maturity upon the occurrence and continuance of an event of default. In connection with any other borrowings (if any), the 1940 Act does in certain circumstances grant to the lenders certain voting rights in the event of default in the payment of interest on or repayment of principal.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Market.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Our debt securities are not likely to be listed on an exchange or automated quotation system. The details on how to buy and sell such securities, along with the other terms of the securities, will be described in a prospectus supplement. We cannot assure you that any market will exist for our debt securities or if a market does exist, whether it will provide holders with liquidity.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Book-Entry, Delivery and Form.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Unless otherwise stated in the related prospectus supplement, the debt securities will be issued in book-entry form and will be represented by one or more notes in registered global form. The global notes will be deposited with the trustee as custodian for The Depository Trust Company ("DTC") and registered in the name of Cede &amp; Co., as nominee of DTC. DTC will maintain the notes in designated denominations through its book-entry facilities.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the expected terms of the indenture, we and the trustee may treat the persons in whose names any notes, including the global notes, are registered as the owners thereof for the purpose of receiving payments and for any and all other purposes whatsoever. Therefore, so long as DTC or its nominee is the registered owner of the global notes, DTC or such nominee will be considered the sole holder of outstanding notes under the indenture. We or the trustee may give effect to any written certification, proxy or other authorization furnished by DTC or its nominee.</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A global note may not be transferred except as a whole by DTC, its successors or their respective nominees. Interests of beneficial owners in the global note may be transferred or exchanged for definitive securities in accordance with the rules and procedures of DTC. In addition, a global note may be exchangeable for notes in definitive form if:</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;DTC notifies us that it is unwilling or unable to continue as a depository and we do not appoint a successor within 60 days;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;we, at our option, notify the trustee in writing that we elect to cause the issuance of notes in definitive form under the indenture; or</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;an event of default has occurred and is continuing.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In each instance, upon surrender by DTC or its nominee of the global note, notes in definitive form will be issued to each person that DTC or its nominee identifies as being the beneficial owner of the related notes.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the expected terms of the indenture, the holder of any global note may grant proxies and otherwise authorize any person, including its participants and persons who may hold interests through DTC participants, to take any action which a holder is entitled to take under the indenture.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="ratingagencyguidelines"></a><b>RATING AGENCY GUIDELINES</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Rating Agencies, which may assign ratings to our senior securities, impose asset coverage requirements, which may limit our ability to engage in certain types of transactions and may limit our ability to take certain actions without confirming that such action will not impair the ratings. Any agency that may rate our debt securities or preferred shares is referred to as the "Rating Agency."</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>88</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=92,FOLIO='88',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may, but are not required to, adopt any modification to the guidelines that may hereafter be established by any Rating Agency. Failure to adopt any modifications, however, may result in a change in the ratings described above or a withdrawal of ratings altogether. In addition, any Rating Agency may, at any time, change or withdraw any rating. The Board may, without shareholder approval, modify, alter or repeal certain of the definitions and related provisions which have been adopted pursuant to each Rating Agency's guidelines ("Rating Agency Guidelines") only in the event we receive written confirmation from the Rating Agency or Agencies that any amendment, alteration or repeal would not impair the ratings then assigned to the senior securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may be required to satisfy two separate asset maintenance requirements with respect to outstanding rated debt securities and with respect to rated preferred shares: (1) we must maintain assets in our portfolio that have a value, discounted in accordance with guidelines set forth by each Rating Agency, at least equal to 115% of the aggregate principal amount/liquidation preference of the debt securities/preferred stock, respectively, plus specified liabilities, payment obligations and other amounts (the "Basic Maintenance Amount"); and (2) we must satisfy the 1940 Act asset coverage requirements.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Basic Maintenance Amounts.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> We may be required to maintain, as of each valuation date on which senior securities are outstanding, eligible assets having an aggregate discounted value at least equal to 115% of the applicable Basic Maintenance Amount, which is calculated separately for debt securities and preferred shares for each Rating Agency that is then rating the senior securities and so requires. If we fail to maintain eligible assets having an aggregated discounted value at least equal to 115% of the applicable Basic Maintenance Amount as of any valuation date and such failure is not cured, we will be required in certain circumstances to redeem certain of the senior securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The applicable Basic Maintenance Amount is defined in the Rating Agency's Guidelines. Each Rating Agency may amend the definition of the applicable Basic Maintenance Amount from time to time.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The market value of our portfolio securities (used in calculating the discounted value of eligible assets) is calculated using readily available market quotations when appropriate, and in any event, consistent with our valuation procedures. For the purpose of calculating the applicable Basic Maintenance Amount, portfolio securities are valued in the same manner as we calculate our NAV. See "Net Asset Value."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Each Rating Agency's discount factors, the criteria used to determine whether the assets held in our portfolio are eligible assets, and the guidelines for determining the discounted value of our portfolio holdings for purposes of determining compliance with the applicable Basic Maintenance Amount are based on Rating Agency Guidelines established in connection with rating the senior securities. The discount factor relating to any asset, the applicable basic maintenance amount requirement, the assets eligible for inclusion in the calculation of the discounted value of our portfolio and certain definitions and methods of calculation relating thereto may be changed from time to time by the applicable Rating Agency, without our approval, or the approval of our Board of Trustees or shareholders.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A Rating Agency's Guidelines will apply to the senior securities only so long as that Rating Agency is rating such securities. In connection with obtaining a rating, we will pay certain fees to Moody's, Fitch, Kroll and any other Rating Agency that may provide a rating for the senior securities. The ratings assigned to the senior securities are not recommendations to buy, sell or hold the senior securities. Such ratings may be subject to revision or withdrawal by the assigning Rating Agency at any time.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>1940 Act Asset Coverage.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> We are also required to maintain, with respect to senior securities, as of the last business day on any month in which any senior securities are outstanding, asset coverage of at least 300% for debt securities and 200% for preferred stock (or such other percentage as may in the future be specified in or under the 1940 Act or in any order granted by the Commission as the minimum asset coverage for senior securities representing shares of a closed-end investment company as a condition of declaring dividends on its common stock). If we fail to maintain the applicable 1940 Act asset coverage as of the last business day of any </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>89</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=93,FOLIO='89',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">month and such failure is not cured as of the last business day of the following month (the "Asset Coverage Cure Date"), we may be required to redeem certain senior securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Notices.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under the current Rating Agency Guidelines, in certain circumstances, we may be required to deliver to any Rating Agency which is then rating the senior securities (1) a certificate with respect to the calculation of the applicable Basic Maintenance Amount; (2) a certificate with respect to the calculation of the applicable 1940 Act asset coverage and the value of our portfolio holdings; and (3) a letter prepared by our independent accountants regarding the accuracy of such calculations.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Notwithstanding anything herein to the contrary, the Rating Agency Guidelines, as they may be amended from time to time by each Rating Agency will be reflected in a written document and may be amended by each Rating Agency without the vote, consent or approval of the Fund, the Board of Trustees or any shareholder of the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">A copy of the current Rating Agency Guidelines will be provided to any holder of rated, senior securities promptly upon request made by such holder to the Fund by writing the Fund at 2020 Calamos Court, Naperville, Illinois 60563.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="certainprovisions"></a><b>CERTAIN PROVISIONS OF THE AGREEMENT <BR>AND DECLARATION OF TRUST AND BY-LAWS, <BR>INCLUDING ANTITAKEOVER PROVISIONS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's Agreement and Declaration of Trust includes provisions that could have the effect of limiting the ability of other entities or persons to acquire control of the Fund or to change the composition of its Board of Trustees and could have the effect of depriving shareholders of an opportunity to sell their shares at a premium over prevailing market prices by discouraging a third party from seeking to obtain control of the Fund. These provisions, however, have the advantage of potentially requiring persons seeking control of the Fund to negotiate with our management regarding the price to be paid and facilitating the continuity of the Fund's investment objective and policies. The Board of Trustees of the Fund has considered these provisions and concluded that they are in the best interests of the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Board of Trustees is divided into three classes. The terms of the Trustees of the different classes are staggered. A Trustee may be removed from office with or without cause (1) at any time by a written instrument signed by at least two-thirds of the then Trustees, specifying the effective date of removal, or (2) by a vote of at least a majority of the then Trustees if such removal is approved by the holders of at least two-thirds of the outstanding shares entitled to vote with respect to the election of such Trustee and present in person or by proxy at a meeting of shareholders called for such purpose.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, subject to certain exceptions in the Agreement and Declaration of Trust, the Agreement and Declaration of Trust requires the affirmative vote of at least 75% of the outstanding shares entitled to vote on the matter for the Fund to merge or consolidate with any other corporation, association, trust or other organization or to sell, lease or exchange all or substantially all of the Fund's assets; unless such action has been approved by the affirmative vote of at least 75% of the Continuing Trustees (as defined in the Agreement and Declaration of Trust) then in office, in which case, the affirmative vote of a majority of the outstanding shares entitled to vote on the matter is required.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, conversion of the Fund to an open-end investment company would require an amendment to the Fund's Agreement and Declaration of Trust. Such an amendment would require the favorable vote of a majority of the then Continuing Trustees (as defined in the Agreement and Declaration of Trust) followed by a favorable vote of the holders of at least 75% of the shares of each affected class or series outstanding, voting as separate classes or series (or a majority of the shares outstanding and entitled to vote if the amendment was previously </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>90</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=94,FOLIO='90',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">approved by 75% of the Trustees). Such a vote also would satisfy a separate requirement in the 1940 Act that the change be approved by the shareholders.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under the 1940 Act, shareholders of an open-end investment company may require the company to redeem their shares of common stock at any time (except in certain circumstances as authorized by or under the 1940 Act) at their net asset value, less such redemption charge, if any, as might be in effect at the time of a redemption. If the Fund is converted to an open-end investment company, it could be required to liquidate portfolio securities to meet requests for redemption, and the common shares would no longer be listed on Nasdaq. Conversion to an open-end investment company would also require changes in certain of the Fund's investment policies and restrictions. In addition, if then outstanding, the Fund would be required to redeem all of its outstanding preferred shares prior to conversion to an open-end investment company.</font></p>



<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, the Agreement and Declaration of Trust requires the affirmative vote or consent of a majority of the then Continuing Trustees (as defined in the Agreement and Declaration of Trust) followed by the affirmative vote or consent of the holders of at least 75% of the shares of each affected class or series of the Fund outstanding, voting separately as a class or series, to approve certain transactions with a Principal Shareholder, unless the transaction has been approved by at least 75% of the Continuing Trustees (as defined in the Agreement and Declaration of Trust), in which case a majority of the outstanding shares entitled to vote shall be required. For purposes of these provisions, a "Principal Shareholder" refers to any person who, whether directly or indirectly and whether alone or together with its affiliates and associates, beneficially owns 5% or more of the outstanding shares of any class or series of shares of beneficial interest of the Fund. The 5% holder transactions subject to these special approval requirements are:</font></p>

<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the merger or consolidation of the Fund or any subsidiary of the Fund with or into any Principal Shareholder;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the issuance of any securities of the Fund to any Principal Shareholder for cash (other than pursuant to any automatic dividend reinvestment plan); or</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">&bull;&nbsp;&nbsp;the sale, lease or exchange to the Fund or any subsidiary of the Fund in exchange for securities of the Fund, of any assets of any Principal Shareholder, except assets having an aggregate fair market value of less than $1,000,000, aggregating for the purpose of such computation all assets sold, leased or exchanged in any series of similar transactions within a 12-month period.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may be terminated by the affirmative vote of not less than 75% of the Trustees then in office by written notice to the shareholders.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's Agreement and Declaration of Trust and By-Laws provide that the Board of Trustees has the power, to the exclusion of shareholders, to make, alter or repeal any of the By-Laws, except for any By-Law that requires a vote of the shareholders to be amended, adopted or repealed by the terms of the Agreement and Declaration of Trust, By-Laws or applicable law. Neither this provision of the Agreement and Declaration of Trust, nor any of the foregoing provisions thereof requiring the affirmative vote of 75% of outstanding shares of the Fund, can be amended or repealed except by the vote of such required number of shares.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's By-Laws provide that the affirmative vote of a majority of the shares outstanding and entitled to vote shall elect a trustee; provided, that if the Fund's Agreement and Declaration of Trust or applicable law requires that a trustee be elected by individual series or classes, then the affirmative vote of a majority of the shares outstanding and entitled to vote of that series or class shall elect a trustee. In the case of a failure to elect trustees at a shareholder meeting, the Fund's Agreement and Declaration of Trust provides that each incumbent Trustee shall hold-over as Trustee until her or she sooner dies, resigns, retires, or is disqualified or removed from office or until the election at an annual meeting and qualification of his or her successor.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>91</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=95,FOLIO='91',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's By-Laws provide that shareholders may only make proposals regarding underlying matters on which they are entitled to vote. In addition, nominations of persons for election as a trustee and the proposal of other business may be made at an annual meeting of shareholders by any shareholder who was a shareholder of record at the time of giving notice required by the Fund's By-Laws and who held shares continuously until the time of the annual meeting (the "Holding Period"). Other than nominations of persons for election as a trustee, shareholders proposing other business must hold, together with any other shareholders proposing such business, at least 5% of the outstanding shares of the Fund or 5% of the outstanding shares of the series or class to which the proposal relates continuously through the Holding Period.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">With respect to proposals by shareholders submitted outside the process of Rule 14a-8 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Fund's By-Laws generally require that advance notice be given to the Fund in the event a shareholder desires to nominate a person for election to the Board of Trustees or to transact any other business at an annual meeting of shareholders. With respect to an annual meeting following the first annual meeting of shareholders, notice of any such nomination or business must be delivered to the principal executive offices of the Fund not less than 90 calendar days nor more than 120 calendar days prior to the anniversary date of the mailing of the notice for the prior year's annual meeting (subject to certain exceptions). Any notice by a shareholder must be accompanied by certain information as provided in the By-Laws, including (a) the shareholder giving notice and the beneficial owners, if any, on whose behalf the nomination is made (i) the name and address of the shareholder, as they appear in the Fund's books, and of the beneficial owner, (ii) information regarding the shares held by the shareholder, (iii) a description of all arrangements, agreements or understandings between the shareholder and any other person or persons (including their names) pursuant to which the shareholder recommendation is being made, (iv) a representation, which is complied with, that the shareholder is a shareholder of record of the Fund and entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to propose such business or nomination, (v) a representation, which is complied with, that the shareholder or the beneficial owner, if any, intends or is part of a group which intends to deliver a proxy statement and/or form of proxy to shareholders entitled to cast the requisite number of votes to approve or adopt the proposal or elect the nominee, and (vi) any other information relating to the shareholder and beneficial owner, if any, that must be disclosed in solicitation of proxies for election of trustees in an election contest (even if an election contest is not involved), or otherwise would be required, in each case pursuant to the Exchange Act and the rules and regulations promulgated thereunder; (b) information regarding the candidate's background and qualifications to serve as trustee; and (c) as to any other business that the shareholder proposes to bring before the meeting, a brief description of the business desired to be brought before the meeting, the text of the proposal or business (including the text of any resolutions proposed for consideration), the reasons for conducting such business at the meeting and any material interest in such business of such shareholder and the beneficial owner, if any, on whose behalf the proposal is made.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's Agreement and Declaration of Trust provides that the chair of the shareholder meeting may adjourn a meeting for any reason on his or her own motion without setting a new record date.</font></p>



<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The foregoing is intended only as a summary and is qualified in its entirety by reference to the full text of the Fund's Agreement and Declaration of Trust and By-Laws, both of which have been filed as exhibits to the Fund's registration statement on file with the SEC.</font></p>

<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="planofdistribution"></a><b>PLAN OF DISTRIBUTION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer, from time to time, our common shares, preferred shares or debt securities, and certain of our shareholders may sell our common shares, on an immediate, continuous or delayed basis, in one or more underwritten public offerings, "at the market" offerings or a combination of both offerings under this prospectus and any related prospectus supplement. The aggregate amount of securities that may be offered by us in connection with this offering is limited to $100,000,000. Any underwriter or agent involved in the offer and sale </font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>92</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=96,FOLIO='92',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">of the securities will be named in the applicable prospectus supplement. A prospectus supplement or supplements will also describe the terms of the offering of the securities, including as applicable: the purchase price of the securities and the proceeds, if any, we will receive from the sale; any overallotment options under which underwriters may purchase additional securities from us; any agency fees or underwriting discounts and other items constituting agents' or underwriters' compensation; the public offering price; any discounts or concessions allowed or re-allowed or paid to dealers; and any securities exchange or market on which the securities may be listed. Only underwriters named in the prospectus supplement will be underwriters of the securities offered by such prospectus supplement.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Direct Sales</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may sell our common shares, preferred shares or debt securities, and certain of our shareholders may sell our common shares, directly to, and solicit offers from, institutional investors or others who may be deemed to be underwriters as defined in the 1933 Act for any resales of the securities. If such an offering occurs, no underwriters or agents would be involved. We, or any selling shareholder, may use electronic media, including the Internet, to sell offered securities directly. The terms of any of those sales will be described in a prospectus supplement.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If our common shares are to be offered for sale by certain of our shareholders, each prospectus supplement relating to such offering will indicate the nature of any position, office, or other material relationship which the selling shareholder has had within the past three years with the Fund or any of its predecessors or affiliates, and will state the amount of securities of the class owned by such shareholder prior to the offering, the amount to be offered for the shareholder's account, the amount and (if one percent or more) the percentage of the class to be owned by such shareholder after completion of the offering.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>By Agents</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer our common shares, preferred shares and debt securities through agents that we or they designate. Any agent involved in the offer and sale will be named and any commissions payable by us to such agent will be described in the applicable prospectus supplement. Unless otherwise indicated in the prospectus supplement, the agents will be acting on a commercially reasonable efforts basis for the period of their appointment.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Sales of our common shares may be made in transactions that are deemed to be "at the market" as defined in Rule 415 under the 1933 Act, including sales made directly on Nasdaq or sales made to or through a market maker other than on an exchange.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>By Underwriters</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer and sell securities from time to time to one or more underwriters who would purchase the securities as principal for resale to the public, either on a firm commitment or best efforts basis. If we sell securities to underwriters, we will execute an underwriting agreement with them at the time of the sale and will name them in the prospectus supplement. In connection with these sales, the underwriters may be deemed to have received compensation from us in the form of underwriting discounts and commissions. The underwriters also may receive commissions from purchasers of securities for whom they may act as agent. Unless otherwise stated in the prospectus supplement, the underwriters will not be obligated to purchase the securities unless the conditions set forth in the underwriting agreement are satisfied, and if the underwriters purchase any of the securities, they will be required to purchase all of the offered securities. The underwriters may sell the offered securities to or through dealers, and those dealers may receive discounts, concessions or commissions from the underwriters as well as from the purchasers for whom they may act as agent. Any public offering price and any discounts or concessions allowed or reallowed or paid to dealers may be changed from time to time. Our common shareholders will indirectly bear such fees and expenses as well as any other fees and expenses incurred by us in connection with any sale of securities. Underwriters, dealers and agents that participate in the distribution of the </font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>93</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=97,FOLIO='93',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">securities may be deemed to be underwriters under the 1933 Act, and any discounts and commissions they receive from us and any profit realized by them on the resale of the securities may be deemed to be underwriting discounts and commissions under the 1933 Act. Any such underwriter or agent will be identified and any such compensation received from us will be described in the applicable prospectus supplement.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If a prospectus supplement so indicates, we may grant the underwriters an option to purchase additional shares of common stock at the public offering price, less the underwriting discounts and commissions, within 45 days from the date of the prospectus supplement, to cover any overallotments.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>By Dealers</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer and sell securities from time to time to one or more dealers who would purchase the securities as principal. The dealers then may resell the offered securities to the public at fixed or varying prices to be determined by those dealers at the time of resale. The names of the dealers and the terms of the transactions with them will be set forth in the applicable prospectus supplement.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>General Information</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Agents, underwriters, or dealers participating in an offering of securities may be deemed to be underwriters, and any discounts and commission received by them and any profit realized by them on resale of the offered securities for whom they act as agent may be deemed to be underwriting discounts and commissions under the 1933 Act.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer to sell securities either at a fixed price or at prices that may vary, at market prices prevailing at the time of sale, at prices related to prevailing market prices, or at negotiated prices.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Ordinarily, each series of offered securities will be a new issue of securities and will have no established trading market.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">To facilitate an offering of common stock in an underwritten transaction and in accordance with industry practice, the underwriters may engage in transactions that stabilize, maintain, or otherwise affect the market price of the common stock or any other security. Those transactions may include overallotment, entering stabilizing bids, effecting syndicate covering transactions, and reclaiming selling concessions allowed to an underwriter or a dealer. An overallotment in connection with an offering creates a short position in the common stock for the underwriter's own account. An underwriter may place a stabilizing bid to purchase the common stock for the purpose of pegging, fixing, or maintaining the price of the common stock. Underwriters may engage in syndicate covering transactions to cover overallotments or to stabilize the price of the common stock by bidding for, and purchasing, the common stock or any other securities in the open market in order to reduce a short position created in connection with the offering. The managing underwriter may impose a penalty bid on a syndicate member to reclaim a selling concession in connection with an offering when the common stock originally sold by the syndicate member is purchased in syndicate covering transactions or otherwise.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Any of these activities may stabilize or maintain the market price of the securities above independent market levels. The underwriters are not required to engage in these activities, and may end any of these activities at any time.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Any underwriters to whom the offered securities are sold for offering and sale may make a market in the offered securities, but the underwriters will not be obligated to do so and may discontinue any market-making at any time without notice. The offered securities may or may not be listed on a securities exchange. We cannot assure you that there will be a liquid trading market for the offered securities.</font></p>
</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>94</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=98,FOLIO='94',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Under agreements entered into with us, underwriters and agents may be entitled to indemnification by us against certain civil liabilities, including liabilities under the 1933 Act, or to contribution by us for payments the underwriters or agents may be required to make.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The underwriters, agents, and their affiliates may engage in financial or other business transactions with us and our subsidiaries in the ordinary course of business.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The maximum commission or discount to be received by any member of the Financial Industry Regulatory Authority or independent broker-dealer will not be greater than eight percent of the initial gross proceeds from the sale of any security being sold.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The aggregate offering price specified on the cover of this prospectus relates to the offering of the securities not yet issued as of the date of this prospectus.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">To the extent permitted under the 1940 Act and the rules and regulations promulgated thereunder, the underwriters may from time to time act as a broker or dealer and receive fees in connection with the execution of our portfolio transactions after the underwriters have ceased to be underwriters and, subject to certain restrictions, each may act as a broker while it is an underwriter.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus and any accompanying prospectus supplement in electronic form may be made available on the websites maintained by underwriters. The underwriters may agree to allocate a number of securities for sale to their online brokerage account holders. Such allocations of securities for internet distributions will be made on the same basis as other allocations. In addition, securities may be sold by the underwriters to securities dealers who resell securities to online brokerage account holders.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="custodiantransferagentdividend"></a><b>CUSTODIAN, TRANSFER AGENT, DIVIDEND DISBURSING AGENT AND REGISTRAR</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's securities and cash are held under a custodian agreement with State Street Bank and Trust Company, One Lincoln Street, Boston, Massachusetts 02111. The transfer agent, dividend disbursing agent and registrar for the Fund's common shares is Computershare Investor Services, P.O. Box 505000, Louisville, KY 40233-5000.</font></p>

<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="legalmatters"></a><b>LEGAL MATTERS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Ropes &amp; Gray LLP ("Ropes &amp; Gray") is counsel to the Fund. Richards, Layton &amp; Finger, P.A. ("RLF") has opined on certain matters of Delaware law relating to the legality of the securities to be offered hereby. If certain legal matters in connection with an offering of securities are passed upon by counsel for the underwriters of such offering, such matters will be passed upon by counsel to be identified in a prospectus supplement.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="experts"></a><b>EXPERTS</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The financial highlights included in this prospectus and the financial statements and financial highlights, including the notes thereto, provided in the statement of additional information, which is incorporated by reference in its entirety into this prospectus, have been audited by Deloitte &amp; Touche LLP, an independent registered public accounting firm, as stated in their report, which is also included in the statement of additional information and incorporated by reference herein. Such financial statements and financial highlights are included and incorporated in reliance upon the report and consent of such firm given upon the firm's authority as experts in accounting and auditing.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>95</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=99,FOLIO='95',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><a name="availableinformation"></a><b>AVAILABLE INFORMATION</b></font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We are subject to the informational requirements of the Exchange Act and the 1940 Act and are required to file reports, including annual and semi-annual reports, proxy statements and other information with the Commission. These documents are available on the EDGAR database on the Commission's website at www.sec.gov. You may obtain copies of any information incorporated by reference into this prospectus, at no charge, by calling toll-free 800.582.6959 or by writing to the Fund at 2020 Calamos Court, Naperville, IL 50463. The Fund's periodic reports filed pursuant to Section 30(b)(2) of the 1940 Act and Sections 13 and 15(d) of the Exchange Act, as well as this Prospectus and the Statement of Additional Information, are available on the Fund's website <u>http://www.calamos.com</u>.</font></p>

<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus does not contain all of the information in our registration statement, including amendments, exhibits, and schedules. Statements in this prospectus about the contents of any contract or other document are not necessarily complete and in each instance reference is made to the copy of the contract or other document filed as an exhibit to the registration statement, each such statement being qualified in all respects by this reference.</font></p>


<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Additional information about us can be found in our registration statement (including amendments, exhibits, and schedules) on Form N-2 filed with the Commission. The Commission maintains a website (http://www.sec.gov) that contains our registration statement, other documents incorporated by reference, and other information we have filed electronically with the Commission, including proxy statements and reports filed under the Exchange Act.</font></p>

</div>
<div style="margin:8pt 0pt 8pt 0pt;">
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>96</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=100,FOLIO='96',FILE='21-5399-2.da.qxp',USER='Unknown',CD='' -->
<br clear="all"><Div style="page-break-before:always;"></Div>


<!-- Document name: 21-5399-3.ba-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>SUBJECT TO COMPLETION, DATED FEBRUARY [ &nbsp;&nbsp;], 2021<BR>FORM OF PROSPECTUS SUPPLEMENT</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:9pt;"><b>The information in this prospectus supplement is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus supplement is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Prospectus Supplement <BR>(To Prospectus dated [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2021)</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:18pt;"><b>Calamos Convertible Opportunities and Income Fund</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:14pt;"><b>Up to [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] Common Shares</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Convertible Opportunities and Income Fund (the "Fund," "we," "us," or "our") is a diversified, closed-end management investment company that commenced investment operations in June 2002. Our investment objective is to provide total return through a combination of capital appreciation and current income.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our common shares are listed on the NASDAQ Global Select Market ("NASDAQ") under the symbol "CHI." As of January 31, 2021, the last reported sale price for our common shares was $xx.xx per share. As of January 31, 2021, the last reported net asset value for our common shares was $xx.xx.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Sales of our common shares, if any, under this prospectus supplement and the accompanying prospectus may be made in negotiated transactions or transactions that are deemed to be "at the market" as defined in Rule 415 under the Securities Act of 1933, as amended (the "1933 Act"), including sales made directly on the NASDAQ or sales made to or through a market maker other than on an exchange.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="306" valign="bottom" style="padding:6pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Per Share</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Total(1)</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[Public offering price</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Sales load</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Proceeds to us (before expenses)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;The aggregate expenses of the offering are estimated to be $  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , which represents approximately $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share.</font></p>
<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The underwriters may also purchase up to an additional [ &nbsp;&nbsp;] common shares from the Fund at the public offering price, less underwriting discounts and commissions if any, within [ &nbsp;&nbsp;] days after the date of this prospectus supplement. If the over-allotment option is exercised in full, the total proceeds, before expenses, to the Fund would be $[ &nbsp;&nbsp;&nbsp;] and the total underwriting discounts and commissions would be $[ &nbsp;&nbsp;&nbsp;]. The common shares will be ready for delivery on or about [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;].]</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investing in our securities involves certain risks, including the risks associated with the Fund's use of leverage. You could lose some or all of your investment. See "Risk Factors" beginning on page xx of the accompanying prospectus. You should consider carefully these risks together with all of the other information contained in this prospectus supplement and the accompanying prospectus before making a decision to purchase our securities.</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[UNDERWRITER(S)]</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus Supplement dated [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2021</font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=1,FOLIO='',FILE='21-5399-3.ba.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement, together with the accompanying prospectus, sets forth concisely the information that you should know before investing. You should read the accompanying prospectus and prospectus supplement, which contain important information, before deciding whether to invest in our securities. You should retain the accompanying prospectus and prospectus supplement for future reference. A statement of additional information, dated [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] as supplemented from time to time, containing additional information, has been filed with the Securities and Exchange Commission ("Commission") and is incorporated by reference in its entirety into this prospectus supplement and the accompanying prospectus. This prospectus supplement, the accompanying prospectus and the statement of additional information are part of a "shelf" registration statement that we filed with the Commission. This prospectus supplement describes the specific details regarding this offering, including the method of distribution. If information in this prospectus supplement is inconsistent with the accompanying prospectus or the statement of additional information, you should rely on this prospectus supplement. You may request a free copy of the statement of additional information, the table of contents of which is on page xx of the accompanying prospectus, request a free copy of our annual and semi-annual reports, request other information or make shareholder inquiries, by calling toll-free 1-800-582-6959 or by writing to the Fund at 2020 Calamos Court, Naperville, Illinois 60563. The Fund's annual and semi-annual reports also are available on our website, free of charge, at www.calamos.com, which also provides a link to the Commission's website, as described below, where the Fund's statement of additional information can be obtained. Information included on our website does not form part of this prospectus supplement or the accompanying prospectus. You can review and copy documents we have filed at the Commission's Public Reference Room in Washington, D.C. Call 1-202-551-8090 for information. The Commission charges a fee for copies. You can get the same information free from the Commission's website (http://www.sec.gov). You may also e-mail requests for these documents to publicinfo@sec.gov or make a request in writing to the Commission's Public Reference Section, Washington, D.C. 20549-1520.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our securities do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution and are not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.</font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=2,FOLIO='',FILE='21-5399-3.ba.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>TABLE OF CONTENTS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Prospectus Supplement</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="420" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 4pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 4pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Page</b></font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 4pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus Supplement Summary</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">SUP-1</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Capitalization</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">SUP-3</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Summary of Fund Expenses</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">SUP-3</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Market and Net Asset Value Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">SUP-5</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of Proceeds</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">SUP-6</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Plan of Distribution</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">SUP-7</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Legal Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">SUP-7</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Available Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">SUP-7</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="7" width="485" align="center" valign="bottom" style="padding:10pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Prospectus</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus Summary</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Summary of Fund Expenses</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">23</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Financial Highlights</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Market and Net Asset Value Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">27</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of Proceeds</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">28</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">28</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Investment Objective and Principal Investment Strategies</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">29</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">37</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Interest Rate Transactions</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">43</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Risk Factors</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">45</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Management of the Fund</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">63</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Closed-End Fund Structure</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">67</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain Federal Income Tax Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">68</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net Asset Value</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">76</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">78</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Description of Securities</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">83</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Rating Agency Guidelines</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">88</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Provisions</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">90</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Plan of Distribution</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">92</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Custodian, Transfer Agent, Dividend Disbursing Agent and Registrar</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Legal Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Experts</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Available Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">96</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>You should rely only on the information contained or incorporated by reference in this prospectus supplement and the accompanying prospectus in making your investment decisions. We have not authorized any other person to provide you with different or inconsistent information. If anyone provides you with different or inconsistent information, you should not rely on it. This prospectus supplement and the accompanying prospectus do not constitute an offer to sell or solicitation of an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. The information appearing in this prospectus supplement and in the accompanying prospectus is accurate only as of the dates on their covers. Our business, financial condition and prospects may have changed since such dates. We will advise investors of any material changes to the extent required by applicable law.</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>i</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=3,FOLIO='i',FILE='21-5399-3.ba.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement, the accompanying prospectus and the statement of additional information contain "forward-looking statements." Forward-looking statements can be identified by the words "may," "will," "intend," "expect," "estimate," "continue," "plan," "anticipate," and similar terms and the negative of such terms. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Several factors that could materially affect our actual results are the performance of the portfolio of securities we hold, the price at which our shares will trade in the public markets and other factors discussed in our periodic filings with the Commission. Currently known risk factors that could cause actual results to differ materially from our expectations include, but are not limited to, the factors described in the "Risk Factors" section of the accompanying prospectus. We urge you to review carefully that section for a more detailed discussion of the risks of an investment in our securities.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Although we believe that the expectations expressed in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties, such as those disclosed in the "Risk Factors" section of the accompanying prospectus. All forward-looking statements contained or incorporated by reference in this prospectus supplement or the accompanying prospectus are made as of the date of this prospectus supplement or the accompanying prospectus, as the case may be. Except for our ongoing obligations under the federal securities laws, we do not intend, and we undertake no obligation, to update any forward-looking statement.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>ii</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=4,FOLIO='ii',FILE='21-5399-3.ba.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.bc-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>PROSPECTUS SUPPLEMENT SUMMARY</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>The following summary contains basic information about us and our securities. It is not complete and may not contain all of the information you may want to consider. You should review the more detailed information contained in this prospectus supplement and in the accompanying prospectus and in the statement of additional information, especially the information set forth under the heading "Risk Factors" beginning on page xx of the accompanying prospectus.</i></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The Fund</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund is a diversified, closed-end management investment company, with total managed assets of $x.xx billion as of December 31, 2018. We commenced operations in June 2002 following our initial public offering. Our investment objective is to provide total return through a combination of capital appreciation and current income.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investment Adviser</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Advisors LLC (the "Adviser" or "Calamos") serves as our investment adviser. Calamos is responsible on a day-to-day basis for investment of the Fund's portfolio in accordance with its investment objective and policies. Calamos makes all investment decisions for the Fund and places purchase and sale orders for the Fund's portfolio securities. As of December 31, 2018 Calamos managed approximately $xx.x billion in assets of individuals and institutions. Calamos is a wholly-owned subsidiary of Calamos Investments LLC and an indirect subsidiary of Calamos Asset Management, Inc.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund pays Calamos an annual fee, payable monthly, for its investment management services equal to 0.80% of the Fund's average weekly managed assets. "Managed assets" means the total assets of the Fund (including any assets attributable to any leverage that may be outstanding) minus the sum of liabilities (other than debt representing financial leverage). See "Management of the Fund" on page xx of the accompanying prospectus.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The principal business address of the Adviser is 2020 Calamos Court, Naperville, Illinois 60563.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The Offering</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund and Calamos entered into the [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] Agreement with [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] ("[ &nbsp;&nbsp;&nbsp;]") relating to the common shares offered by this prospectus supplement and the accompanying prospectus. In accordance with the terms of the [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] Agreement, we may offer and sell up to x,xxx,xxx of our common shares, no par value per share, from time to time through [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] as our agent for the offer and sale of the common shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">As of December 31, 2018, the Fund had offered and sold xx,xxx,xxx common shares pursuant to a prior sales agreement with [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], resulting in proceeds (net of all fees, expenses and commissions) of $xx million. The prior sales agreement with [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] has been terminated.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our common shares are listed on the NASDAQ Global Select Market ("NASDAQ") under the symbol "CHI." As of January 31, 2021, the last reported sale price for our common shares was $xx.xx.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Sales of our common shares, if any, under this prospectus supplement and the accompanying prospectus may be made in negotiated transactions or transactions that are deemed to be "at the market" as defined in Rule 415 under the 1933 Act, including sales made directly on the NASDAQ or sales made to or through a market maker other than on an exchange. See "Plan of Distribution" in this prospectus supplement. Our common </font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>SUP-1</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=5,FOLIO='SUP-1',FILE='21-5399-3.bc.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">shares may not be sold through agents, underwriters or dealers without delivery or deemed delivery of a prospectus and a prospectus supplement describing the method and terms of the offering of our securities. Under the 1940 Act, the Fund may not sell any common shares at a price below the current net asset value of such common shares, exclusive of any distributing commission or discount.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Use of Proceeds</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Unless otherwise specified in this prospectus supplement, we currently intend to use the net proceeds from the sale of our common shares in this offering primarily to invest in accordance with our investment objective and policies (as described under "Investment Objective and Principal Investment Strategies," beginning on page [ &nbsp;] of the accompanying prospectus) within approximately three months of receipt of such proceeds. We may also use proceeds from the sale of our securities (i) to retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies, (ii) to redeem any outstanding senior securities, and (iii) for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for these purposes.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>SUP-2</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=6,FOLIO='SUP-2',FILE='21-5399-3.bc.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.be-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>CAPITALIZATION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We may offer and sell up to [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] of our common shares, no par value per share. The following table sets forth our capitalization on a historical basis as of  &nbsp;&nbsp;&nbsp;&nbsp;:</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="306" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Actual</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>As Adjusted</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Loans(1)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="78" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="102" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred shares</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Common shares, no par value per share, unlimited shares authorized, <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] outstanding (actual)  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares outstanding <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(as adjusted)</font></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="78" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="102" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Undistributed net investment income (loss)</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="top" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Accumulated net realized gain (loss) on investments, foreign <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">currency transaction, written options and interest rate swaps</font></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="78" bgcolor="#cceeff" valign="top" style="padding:0pt .7pt 0pt 0pt;">
</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="102" bgcolor="#cceeff" valign="top" style="padding:0pt .7pt 0pt 0pt;">
</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="top" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net unrealized appreciation (depreciation) on investments, foreign <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">currency transaction, written options and interest rate swaps</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" valign="top" style="padding:0pt .7pt 0pt 0pt;">
</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" valign="top" style="padding:0pt .7pt 0pt 0pt;">
</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net assets applicable to common shareholders</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="78" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="102" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Total Capitalization</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;">
 &nbsp;</td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;Figures do not reflect additional structural leverage related to certain securities lending programs, which were $[ &nbsp;&nbsp;&nbsp;] million as of [ &nbsp;&nbsp;&nbsp;].</font></p>
<p style="margin:18pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>SUMMARY OF FUND EXPENSES</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table and example contain information about the costs and expenses that common shareholders will bear directly or indirectly. In accordance with Commission requirements, the table below shows our expenses, including interest payments on borrowed funds and preferred stock dividend payments, as a percentage of our average net assets as of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], and not as a percentage of gross assets or managed assets.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">By showing expenses as a percentage of average net assets, expenses are not expressed as a percentage of all of the assets we invest. The table and example are based on our capital structure as of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]. As of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], the Fund had $xxx million in borrowings outstanding, $[  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ] in outstanding preferred shares and additional structural leverage of $xxx million, collectively representing xx.x% of managed assets.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="7" width="453" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Shareholder Transaction Expenses</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Sales Load (as a percentage of offering price)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="0" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="148" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[ &nbsp;&nbsp;&nbsp;&nbsp;]%(1)</font></p></td>
<td colspan="1" width="0" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Offering Expenses Borne by the Fund (as a percentage of offering price)</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="0" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="148" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[ &nbsp;&nbsp;&nbsp;&nbsp;]%</font></p></td>
<td colspan="1" width="0" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividend Reinvestment Plan Fees (per sales transaction fee)(2)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="24" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[$</font></p></td>
<td colspan="1" width="105" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">15.00</font></p></td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">]</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" align="left" valign="bottom" style="padding:12pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Annual Expenses</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="148" align="center" valign="bottom" style="padding:12pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Percentage of Average Net<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Assets Attributable to<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Common Shareholders</b></font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Management Fee(3)</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="148" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Interest Payments on Borrowed Funds(4)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="148" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred Stock Dividend Payments(5)</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="148" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Other Expenses(6)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="148" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Acquired Fund Fees and Expenses</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="148" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="305" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Total Annual Expenses</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="148" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>SUP-3</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=7,FOLIO='SUP-3',FILE='21-5399-3.be.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Example:</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following example illustrates the expenses that common shareholders would pay on a $1,000 investment in common shares, assuming (1) total annual expenses of [ &nbsp;&nbsp;&nbsp;&nbsp;]% of net assets attributable to common shareholders; (2) a 5% annual gross return; and (3) all distributions are reinvested at net asset value:</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="215" valign="bottom" style="padding:3pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="56" align="center" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>1 Year</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="56" align="center" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>3 Years</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="56" align="center" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>5 Years</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="60" align="center" valign="bottom" style="padding:3pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>10 Years</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="215" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Total Expenses Paid by Common Shareholders(7)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[     ]</font></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[     ]</font></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[     ]</font></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="44" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[     ]</font></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The example should not be considered a representation of future expenses. Actual expenses may be greater or less than those assumed. Moreover, our actual rate of return may be greater or less than the hypothetical 5% return shown in the example.</b></font></p>
<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;[Represents the estimated commission with respect to our common shares being sold in this offering, which we will pay to in connection with sales of common shares effected by  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in this offering. While  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;is entitled to a commission of  &nbsp;&nbsp;&nbsp;% to  &nbsp;&nbsp;&nbsp;% of the gross sales price for common shares sold, with the exact amount to be agreed upon by the parties, we have assumed, for purposes of this offering, that  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;will receive a commission of  &nbsp;&nbsp;&nbsp;% of such gross sales price. This is the only sales load to be paid in connection with this offering. There is no guarantee that there will be any sales of our common shares pursuant to this prospectus supplement and the accompanying prospectus. Actual sales of our common shares under this prospectus supplement and the accompanying prospectus, if any, may be less than as set forth in the table. In addition, the price per share of any such sale may be greater or less than the price set forth in the table, depending on the market price of our common shares at the time of any such sale.]</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(2)&nbsp;&nbsp;Shareholders will pay a $15.00 transaction fee plus a $0.02 per share brokerage charge if they direct the Plan Agent to sell common shares held in a Plan account. In addition, each participant will pay a pro rata share of brokerage commissions incurred with respect to the Plan Agent's open-market purchases in connection with the reinvestment of dividends or distributions. If a participant elects to have the Plan Agent sell part or all of his or her common shares and remit the proceeds, such participant will be charged his or her pro rata share of brokerage commissions on the shares sold. See "Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan" on page [ &nbsp;&nbsp;&nbsp;&nbsp;] of the accompanying prospectus.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(3)&nbsp;&nbsp;The Fund pays Calamos an annual management fee, payable monthly, for its investment management services in an amount equal to 0.80% of the Fund's average weekly managed assets. In accordance with the requirements of the Commission, the table above shows the Fund's management fee as a percentage of average net assets attributable to common shareholders. By showing the management fee as a percentage of net assets, the management fee is not expressed as a percentage of all of the assets the Fund intends to invest. For purposes of the table, the management fee has been converted to [ &nbsp;&nbsp;&nbsp;&nbsp;]% of the Fund's average weekly net assets as of [ &nbsp;&nbsp;&nbsp;&nbsp;] by dividing the total dollar amount of the management fee by the Fund's average weekly net assets (managed assets less outstanding leverage).</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(4)&nbsp;&nbsp;Reflects interest expense paid on $ &nbsp;&nbsp; million in average borrowings under the Fund's Amended and Restated Liquidity Agreement with State Street Bank and Trust Company, plus $  &nbsp;&nbsp;&nbsp; million in additional average structural leverage related to certain securities lending programs, as described in the prospectus under "Prospectus Summary &#151; Use of Leverage by the Fund."</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(5)&nbsp;&nbsp;Reflects estimated dividend expense on $[ &nbsp;&nbsp;&nbsp;&nbsp;] million aggregate liquidation preference of mandatory redeemable preferred shares ("MRP Shares") outstanding. See "Prospectus Summary &#151; Use of Leverage by the Fund" and "Leverage" in the accompanying prospectus for additional information.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(6)&nbsp;&nbsp;"Other Expenses" are based on estimated amounts for the current fiscal year.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(7)&nbsp;&nbsp;The example includes sales load and estimated offering costs.</font></p>
<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The purpose of the table and the example above is to help investors understand the fees and expenses that they, as common shareholders, would bear directly or indirectly. For additional information with respect to our expenses, see "Management of the Fund" on page xx of the accompanying prospectus.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>SUP-4</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=8,FOLIO='SUP-4',FILE='21-5399-3.be.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>MARKET AND NET ASSET VALUE INFORMATION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our common shares are listed on the NASDAQ Global Select Market ("NASDAQ") under the symbol "CHI." Our common shares commenced trading on the New York Stock Exchange ("NYSE") in June 2002. On July 2, 2012, the common shares ceased trading on the NYSE and commenced trading on the NASDAQ.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our common shares have traded both at a premium and a discount to net asset value or NAV. We cannot predict whether our shares will trade in the future at a premium or discount to NAV. The provisions of the 1940 Act generally require that the public offering price of common shares (less any underwriting commissions and discounts) must equal or exceed the NAV per share of a company's common stock (calculated within 48 hours of pricing). Our issuance of common shares may have an adverse effect on prices in the secondary market for our common shares by increasing the number of common shares available, which may put downward pressure on the market price for our common shares. Shares of common stock of closed-end investment companies frequently trade at a discount from NAV. See "Risk Factors &#151; Additional Risks to Common Shareholders &#151; Market Discount Risk" on page xx of the accompanying prospectus.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table sets forth for each of the periods indicated the high and low closing market prices for our common shares on the NASDAQ, the NAV per share and the premium or discount to NAV per share at which our common shares were trading. NAV is shown for the last business day of each quarter. See "Net Asset Value" on page xx of the accompanying prospectus for information as to the determination of our NAV.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="85" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="7" width="137" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Market Price(1)</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Net Asset</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="7" width="155" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Premium/<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>(Discount)<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>to Net Asset<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Value(3)</b></font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Quarter Ended</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>High</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="62" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Low</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Value(2)</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="71" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>High</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Low</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">January 31, 2017</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="38" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.99</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="33" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">9.49</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="47" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">10.99</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="36" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1.55</font></p></td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(10.30</font></p></td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">)%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">April 30, 2017</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="62" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="71" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">July 31, 2017</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="67" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="62" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="76" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="71" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="76" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2017</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="62" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="71" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">January 31, 2018</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="67" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="62" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="76" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="71" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="76" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">April 30, 2018</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="62" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="71" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">July 31, 2018</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="67" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="62" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="76" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="71" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="76" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2018</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="62" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="71" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="76" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">January 31, 2021</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="67" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="62" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="76" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="71" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="76" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Source: Bloomberg Financial and Fund Accounting Records.</font></p>
<p style="margin:5pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;Based on high and low closing market price per share during the respective quarter and does not reflect commissions.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(2)&nbsp;&nbsp;Based on the NAV calculated on the close of business on the last business day of each calendar quarter.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(3)&nbsp;&nbsp;Premium and discount information is shown for the days when the Fund experienced its high and low closing market prices, respectively, per share during the respective quarter.</font></p>
<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The last reported sale price, NAV per common share and percentage discount to NAV per common share on January 31, 2021, were $xx.xx, $xx.xx and (x.xx)%, respectively. As of January 31, 2021, we had xx,xxx,xxx common shares outstanding and managed assets of approximately $x.xx billion.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>SUP-5</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=9,FOLIO='SUP-5',FILE='21-5399-3.be.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table provides information about our outstanding securities as of December 31, 2018:</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="82" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Title of Class</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="72" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Amount<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Authorized</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="71" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Amount<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Held by the<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Fund or for<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>its Account</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="74" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Amount<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Outstanding</b></font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="82" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Common Shares</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="56" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Unlimited</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="55" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="58" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="82" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS-Series A</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="56" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,330,000</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="55" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="58" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,330,000</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="82" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS-Series B</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="56" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,330,000</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="55" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="58" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,330,000</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="82" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">MRPS-Series C</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="56" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,340,000</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="55" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">0</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="58" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1,340,000</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table sets forth information regarding the Fund's outstanding bank loans and MRP Shares as of the end of each of the Fund's last ten fiscal years, as applicable. The information in the table shown below comes from the Fund's financial statements for the fiscal year ended October 31, 2018, and each of the prior nine years then ended, all of which have been audited by [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], the Fund's independent registered public accounting firm.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Fiscal Year Ended</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="63" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Total Amount<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Outstanding</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="57" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Asset<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Coverage(a)</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="79" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Liquidating<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Preference per<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Preferred Share(c)</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Average<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Market<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Value per<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Preferred Share</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="44" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Type of<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Senior<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Security</b></font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2018</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="63" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="57" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="79" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="70" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2018</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="63" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="57" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="79" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="44" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2017</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="63" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="57" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="79" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="70" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2017</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="63" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="57" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="79" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="44" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2016</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="63" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="57" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="79" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="70" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2015</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="63" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="57" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="79" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="44" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2014</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="63" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="57" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="79" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="70" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2013</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="63" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="57" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="79" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="44" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2012</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="63" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="57" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="79" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="70" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2011</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="63" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="57" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="79" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="44" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2010</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="63" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="57" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="79" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="70" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="3" width="44" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="85" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">October 31, 2009</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="63" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="57" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="79" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="44" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(a)&nbsp;&nbsp;Calculated by subtracting the Fund's total liabilities (not including notes payable and MRPS) from the Fund's total assets and dividing this by the amount of notes payable outstanding, and by multiplying the result by 1,000.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(b)&nbsp;&nbsp;Calculated by subtracting the Fund's total liabilities (not including MRPS) from the Fund's total assets and dividing this by the number of MRPS outstanding, and by multiplying the result by 25.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(c)&nbsp;&nbsp;"Liquidating Preference per Preferred Share" means the amount to which a holder of preferred shares would be entitled upon involuntary liquidation of the Fund in preference to common shareholders, expressed as a dollar amount per preferred share.</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(d)&nbsp;&nbsp;The MRPS are not listed on any exchange or automated quotation system. The MRPS are considered debt of the issuer; and the liquidation preference approximates fair value.</font></p>
<p style="margin:18pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>USE OF PROCEEDS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Unless otherwise specified in this prospectus supplement, we currently intend to use the net proceeds from the sale of our common shares in this offering primarily to invest in accordance with our investment objective and policies (as described under "Investment Objective and Principal Investment Strategies," beginning on page [ &nbsp;&nbsp;&nbsp;&nbsp;] of the accompanying prospectus) within approximately three months of receipt of such proceeds. Such investments may be delayed if suitable investments are unavailable at the time or for other reasons. Pending such investment, we anticipate that we will invest the proceeds in securities issued by the U.S. government or its agencies or instrumentalities or in high quality, short-term or long-term debt obligations. We may also use </font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>SUP-6</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=10,FOLIO='SUP-6',FILE='21-5399-3.be.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">proceeds from the sale of our securities to (i) retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies and (ii) for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for this purpose. A delay in the anticipated use of proceeds could lower returns, reduce our distribution to common shareholders and reduce the amount of cash available to make dividend and interest payments on preferred shares and debt securities, respectively.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>PLAN OF DISTRIBUTION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[To be updated at the time of the offering]</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>LEGAL MATTERS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Ropes &amp; Gray LLP, which is serving as counsel to the Fund in connection with the offering, has opined on the legality of the issuance of the common shares offered hereby. Ropes &amp; Gray LLP may rely on the opinion of [ &nbsp;&nbsp;&nbsp;&nbsp;] with respect to certain matters of Delaware law. [Certain legal matters will be passed upon for the underwriter(s) by [ &nbsp;&nbsp;&nbsp;&nbsp;].</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>AVAILABLE INFORMATION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We are subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the 1940 Act and are required to file reports, including annual and semi-annual reports, proxy statements and other information with the Commission. These documents are available on the Commission's EDGAR system and can be inspected and copied for a fee at the Commission's public reference room, 100 F Street, N.E., Room 1580, Washington, D.C. 20549. Additional information about the operation of the public reference room facilities may be obtained by calling the Commission at (202) 551-5850.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement and the accompanying prospectus do not contain all of the information in our registration statement, including amendments, exhibits, and schedules. Statements in this prospectus supplement and the accompanying prospectus about the contents of any contract or other document are not necessarily complete and in each instance reference is made to the copy of the contract or other document filed as an exhibit to the registration statement, each such statement being qualified in all respects by this reference.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Additional information about us can be found in our registration statement (including amendments, exhibits, and schedules) on Form N-2 filed with the Commission. The Commission maintains a web site (http://www.sec.gov) that contains our registration statement, other documents incorporated by reference, and other information we have filed electronically with the Commission, including proxy statements and reports filed under the Exchange Act.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>SUP-7</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=11,FOLIO='SUP-7',FILE='21-5399-3.be.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.bg-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:18pt;"><b>[ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] Common Shares</b></font></p>
<p style="margin:22pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:18pt;"><b>Calamos Convertible Opportunities and Income Fund</b></font></p>
<p style="margin:188pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>PROSPECTUS SUPPLEMENT</b></font></p>
<p style="margin:187pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[Date], 2021</b></font></p>
<p style="margin:56pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[Until [Date] (25 days after the date of this prospectus supplement), all dealers that buy, sell or trade the common shares, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers' obligation to deliver a prospectus when acting as underwriters.]</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">CHIPRO [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=12,FOLIO='',FILE='21-5399-3.bg.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.da-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>SUBJECT TO COMPLETION, DATED [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:9pt;"><b>The information in this prospectus supplement, which relates to an effective Registration Statement under the Securities Act of 1933, is not complete and may be changed. We may not sell these securities until we deliver a final prospectus supplement. This prospectus supplement and the attached prospectus do not constitute an offer to sell these securities or a solicitation of an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Form of Prospectus Supplement<BR>(To Prospectus dated [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;])</b></font></p>
</div><p style="margin:12pt 0pt 12pt 0pt;"><img src="j2153993_da001.jpg"></p>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:13pt;"><b>$</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
<p style="margin:8pt 0pt 3pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:18pt;"><b>Calamos Convertible Opportunities and Income Fund</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:14pt;"><b>Preferred Shares<BR>Shares, Series<BR>Liquidation Preference $ per share</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Convertible Opportunities and Income Fund (the "Fund," "we", "us" or "our") is a diversified, closed-end management investment company. Our investment objective is to provide total return through a combination of capital appreciation and current income.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We are offering an additional series ("Series &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;") of our series &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;preferred shares (referred to as "Preferred Shares" or "Series &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Shares") in this prospectus supplement. This prospectus supplement is not complete and should be read in conjunction with our prospectus dated , 20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(the "prospectus"), which accompanies this prospectus supplement. This prospectus supplement does not include all information that you should consider before purchasing any Preferred Shares. You should read this prospectus supplement and our prospectus prior to purchasing any Preferred Shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Series &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Shares offered in this prospectus supplement, together with the previously issued and currently outstanding Preferred Shares, are collectively referred to as "Preferred Shares." Individual series of Preferred Shares are referred to as a "series." Except as otherwise described in this prospectus supplement, the terms of this series and all other series are the same.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Preferred Shares have a liquidation preference of $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share, plus any accumulated, unpaid dividends. The Preferred Shares also have priority over the Fund's common shares as to distribution of assets as described in this prospectus supplement.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investing in Preferred Shares involves certain risks, including the risks associated with the Fund's use of leverage. See "Risk Factors" beginning on page xx of the prospectus and beginning on page [</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>] of this prospectus supplement.</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="306" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Per Share</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Total</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Public offering price</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Sales load</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Proceeds to us (before expenses)(1)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;Does not include offering expenses payable to us estimated to be $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p>
<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The underwriters expect to deliver the Series &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Shares in book-entry form, through the facilities of The Depository Trust Company, to broker-dealers on or about , 20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[UNDERWRITER(S)]</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20</font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=13,FOLIO='',FILE='21-5399-3.da.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement has been filed with the Securities and Exchange Commission (the "Commission"). Additional copies of this prospectus supplement, the prospectus, the statement of additional information dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, as supplemented from time to time, or the Fund's annual or semi-annual reports are available by calling (800) 582-6959 or by writing to the Fund, or you may obtain copies (and other information regarding us) from the SEC's web site (http://www.sec.gov). The Fund's annual and semi-annual reports are also available on the Fund's website at www.calamos.com, which provides a link to the Commission's website where the Fund's statement of additional information may be obtained. You also may e-mail requests for these documents to the Commission at publicinfo@sec.gov or make a request in writing to the Commission's Public Reference Section, 100 F Street, N.E., Room 1580, Washington, D.C. 20549.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement, which describes the specific terms of this offering, also adds to and updates information contained in the accompanying prospectus and the documents incorporated by reference in the prospectus. The prospectus gives more general information, some of which may not apply to this offering.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If the description of this offering varies between this prospectus supplement and the accompanying prospectus, you should rely on the information contained in this prospectus supplement; provided that if any statement in one of these documents is inconsistent with a statement in another document having a later date, the statement in the document having the later date modifies or supersedes the earlier statement.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Preferred Shares do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.</font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=14,FOLIO='',FILE='21-5399-3.da.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>TABLE OF CONTENTS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Prospectus Supplement</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="420" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 4pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 4pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Page</b></font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 4pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus Supplement Summary</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-1</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of Proceeds</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-3</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Capitalization</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-3</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Asset Coverage Requirements</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-3</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Description of Preferred Shares</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-4</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Underwriting</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-6</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Where You Can Find More Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-6</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Legal Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-7</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[Unaudited] Financial Statements as of  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">PREF-7</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="7" width="485" align="center" valign="bottom" style="padding:10pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Prospectus</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus Summary</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Summary of Fund Expenses</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">23</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Financial Highlights</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Market and Net Asset Value Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">27</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of Proceeds</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">28</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">28</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Investment Objective and Principal Investment Strategies</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">29</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">37</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Interest Rate Transactions</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">43</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Risk Factors</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">45</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Management of the Fund</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">63</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Closed-End Fund Structure</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">67</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain Federal Income Tax Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">68</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net Asset Value</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">76</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">78</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Description of Securities</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">83</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Rating Agency Guidelines</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">88</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain Provisions of the Agreement and Declaration of Trust And By-Laws, Including Antitakeover <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Provisions</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">90</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Plan of Distribution</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">92</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Custodian, Transfer Agent, Dividend Disbursing Agent and Registrar</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Legal Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Experts</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Available Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">96</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>You should rely only on the information contained in or incorporated by reference in this prospectus supplement. Neither we nor the underwriters have authorized anyone to provide you with different or inconsistent information. If anyone provides you with different or inconsistent information, you should not rely on it. We are not, and the underwriters are not, making an offer to sell these Series</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Preferred Shares in any jurisdiction where the offer or sale is not permitted. You should assume that the information in this prospectus supplement is accurate only as of the date of this prospectus supplement, and that our business, financial condition and prospects may have changed since this date. We will amend or supplement this prospectus supplement to reflect material changes to the information contained in this prospectus supplement to the extent required by applicable law.</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>i</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=15,FOLIO='i',FILE='21-5399-3.da.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement, the accompanying prospectus and the statement of additional information contain "forward-looking statements." Forward-looking statements can be identified by the words "may," "will," "intend," "expect," "estimate," "continue," "plan," "anticipate," and similar terms and the negative of such terms. Such forward-looking statements may be contained in this prospectus supplement, as well as in the accompanying prospectus. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Several factors that could materially affect our actual results are the performance of the portfolio of securities we hold, the conditions in the U.S. and international financial, petroleum and other markets, the price at which our shares will trade in the public markets and other factors discussed in our periodic filings with the Commission.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Although we believe that the expectations expressed in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties, such as those disclosed in the "Risk Factors" section of the prospectus accompanying this prospectus supplement. All forward-looking statements contained or incorporated by reference in this prospectus supplement or the accompanying prospectus are made as of the date of this prospectus supplement or the accompanying prospectus, as the case may be. Except for our ongoing obligations under the federal securities laws, we do not intend, and we undertake no obligation, to update any forward-looking statement. The forward-looking statements contained in this prospectus supplement are excluded from the safe harbor protection provided by section 27A of the Securities Act of 1933, as amended.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Currently known risk factors that could cause actual results to differ materially from our expectations include, but are not limited to, the factors described in the "Risk Factors" section of the prospectus accompanying this prospectus supplement. We urge you to review carefully that section for a more detailed discussion of the risks of an investment in the Preferred Shares.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>ii</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=16,FOLIO='ii',FILE='21-5399-3.da.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.dc-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>PROSPECTUS SUPPLEMENT SUMMARY</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>This summary contains basic information about us but does not contain all of the information that is important to your investment decision. You should read this summary together with the more detailed information contained elsewhere in this prospectus supplement and accompanying prospectus and in the statement of additional information, especially the information set forth under the heading "Risk Factors" beginning on page 31 of the accompanying prospectus and on page [ &nbsp;&nbsp;&nbsp;] of this prospectus supplement.</i></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The Fund</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Convertible Opportunities and Income Fund is a diversified, closed-end management investment company. Throughout the prospectus, we refer to Calamos Convertible Opportunities and Income Fund as the "Fund" or as "we," "us," or "our." The Fund's common shares are traded on the NASDAQ Global Select Market ("NASDAQ") under the symbol "CHI." As of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], the Fund had [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] common shares outstanding and net assets of $[ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]. The Fund's principal offices are located at 2020 Calamos Court, Naperville, Illinois 60563. We have a fiscal year ending October 31st.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our investment objective is to provide total return through a combination of capital appreciation and current income.There can be no assurance that we will achieve our investment objective. See "The Fund" in the accompanying prospectus.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We commenced operations in June 2002 following our initial public offering.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investment Adviser</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Advisors LLC ("Calamos") is the Fund's investment adviser. Calamos is responsible on a day-to-day basis for investment of the Fund's portfolio in accordance with its investment objective and policies. Calamos makes all investment decisions for the Fund and places purchase and sale orders for the Fund's portfolio securities. As of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], Calamos managed approximately $xxx billion in assets of individuals and institutions. Calamos is a wholly owned subsidiary of Calamos Investments LLC ("CILLC") and an indirect subsidiary of Calamos Asset Management, Inc.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund pays Calamos an annual fee, payable monthly, for its investment management services equal to [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]% of the Fund's average weekly managed assets. See "Management of the Fund" in the accompanying prospectus.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The principal business address of the Adviser is 2020 Calamos Court, Naperville, Illinois, 60563.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The Offering</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred Shares offered by the Fund</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We are offering Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Shares, each at a purchase price of $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share. The Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Shares are offered through  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of Proceeds</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund estimates the net proceeds of the offering of Preferred Shares, after payment of sales load and offering expenses, will be approximately $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
</table>

</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>PREF-1</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=17,FOLIO='PREF-1',FILE='21-5399-3.dc.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will invest the net proceeds of any sales of securities in accordance with our investment objective and policies. Such investments may be delayed if suitable investments are unavailable at the time or for other reasons.</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Pending such investment, we anticipate that we will invest the proceeds in securities issued by the U.S. government or its agencies or instrumentalities or in high quality, short-term or long-term debt obligations. We may also use proceeds from the sale of our securities to (i) retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies, (ii) redeem any outstanding senior securities, and (iii) for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for this purpose. A delay in the anticipated use of proceeds could lower returns, reduce our distribution to common shareholders and reduce the amount of cash available to make dividend and interest payments on preferred shares and debt securities, respectively. See "Investment Objective and Principal Investment Strategies" in the accompanying prospectus.</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Risk Factors</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">See "Risk Factors" and other information included in the accompanying prospectus and in this prospectus supplement for a discussion of factors you should carefully consider before deciding to invest in the Preferred Shares.</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
</table>

</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>PREF-2</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=18,FOLIO='PREF-2',FILE='21-5399-3.dc.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.de-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>USE OF PROCEEDS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund estimates the net proceeds of the offering of Preferred Shares, after payment of sales load and offering expenses, will be approximately $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. Subject to the remainder of this section, we will invest the net proceeds of any sales of securities in accordance with our investment objective and policies. Such investments may be delayed if suitable investments are unavailable at the time or for other reasons. Pending such investment, we anticipate that we will invest the proceeds in securities issued by the U.S. government or its agencies or instrumentalities or in high quality, short-term or long-term debt obligations. We may also use proceeds from the sale of our securities to (i) retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies, (ii) redeem any outstanding senior securities, and (iii) for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for this purpose. A delay in the anticipated use of proceeds could lower returns, reduce our distribution to common shareholders and reduce the amount of cash available to make dividend and interest payments on preferred shares and debt securities, respectively. See "Investment Objective and Principal Investment Strategies" in the accompanying prospectus.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>CAPITALIZATION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table sets forth the capitalization of the Fund as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, and as adjusted, to give effect to the issuance of all the Preferred Shares offered hereby (including estimated offering expenses and sales load of $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;). The sales load and offering expenses of the Preferred Shares will be effectively borne by common shareholders.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="306" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Actual</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>As Adjusted<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Preferred Shares</b></font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Loan</b></font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="11" width="494" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Shareholders Equity</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred Shares, no par value per share, $25,000 stated value per <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">share, at liquidation value; unlimited shares authorized (no shares <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">issued; and shares issued, respectively)*</font></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Common shares, no par value per share, unlimited shares <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">authorized, shares outstanding*</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Undistributed net investment income</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Accumulated net realized gain (loss) on investments</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net Unrealized appreciation (depreciation) on investments</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Net Assets</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">*&nbsp;&nbsp;None of these outstanding shares are held by or for the account of the Fund</font></p>
<p style="margin:18pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>ASSET COVERAGE REQUIREMENTS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may be subject to certain restrictions on investments imposed by guidelines of one or more rating agencies that may issue ratings for the preferred shares or debt instruments issued by the Fund. These guidelines may impose asset coverage or portfolio composition requirements that are more stringent than those imposed by the 1940 Act. Certain types of borrowings may result in the Fund being subject to covenants in credit agreements, including those relating to asset coverage, borrowing base and portfolio composition requirements and additional covenants. The Fund may also be required to pledge its assets to the lenders in connection with certain types of borrowing. Calamos does not anticipate that these covenants or restrictions will adversely affect its ability to manage the Fund's portfolio in accordance with the Fund's investment objective and policies. Due to these covenants or restrictions, the Fund may be forced to liquidate investments at times and at prices that are not favorable to the Fund, or the Fund may be forced to forgo investments that Calamos otherwise views as favorable.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>PREF-3</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=19,FOLIO='PREF-3',FILE='21-5399-3.de.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>DESCRIPTION OF PREFERRED SHARES</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following is a brief description of the terms of the Preferred Shares. For the complete terms of the Preferred Shares, please refer to the detailed description of the Preferred Shares in the Statement of Preferences of Preferred Shares (the "Statement") attached as Appendix &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to the statement of additional information. Where appropriate, terms used in "Description of Preferred Shares" below will have the same meanings as those terms in the Statement.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>General</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's Agreement and Declaration of Trust authorizes the issuance of preferred shares, no par value per share, in one or more classes or series with rights as determined by the Board of Trustees without the approval of common shareholders. The Statement currently authorizes the issuance of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Shares, Series &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. All Preferred Shares will have a liquidation preference of $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share, plus an amount equal to accumulated but unpaid dividends (whether or not earned or declared).</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Preferred Shares of each series will rank on parity with any other series of Preferred Shares and any other series of preferred shares of the Fund as to the payment of dividends and the distribution of assets upon liquidation. Each Preferred Share carries one vote on matters on which Preferred Shares can be voted. The Preferred Shares, when issued by the Fund and paid for pursuant to the terms of this prospectus supplement and the accompanying prospectus, will be fully paid and non-assessable and will have no preemptive, exchange or conversion rights. Any Preferred Shares repurchased or redeemed by the Fund will be classified as authorized and unissued Preferred Shares. The Board of Trustees may by resolution classify or reclassify any authorized and unissued Preferred Shares from time to time by setting or changing the preferences, rights, voting powers, restrictions, limitations as to dividends, qualifications or terms or conditions of redemption of such shares. The Preferred Shares will not be subject to any sinking fund, but will be subject to mandatory redemption under certain circumstances described below.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Dividends and Dividend Periods</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following is a general description of dividends and dividend periods for the Preferred Shares.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Dividend Periods</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">. The dividend period for the Preferred Shares is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and the dividend rate is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% per annum.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Dividend Payment Dates.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Dividends on the Preferred Shares will be payable, when, as and if declared by the Board of Trustees, out of legally available funds in accordance with the Agreement and Declaration of Trust, the Statement and applicable law.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividends on Preferred Shares will accumulate from the date of their original issue, which is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Restrictions on Dividend, Redemption and Other Payments.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under the 1940 Act, the Fund may not (i) declare any dividend with respect to the Preferred Shares if, at the time of such declaration (and after giving effect thereto), asset coverage with respect to the Fund's senior securities representing indebtedness (as defined in the 1940 Act) would be less than 200% (or such other percentage as may in the future be specified in or under the 1940 Act as the minimum asset coverage for senior securities representing indebtedness of a closed-end investment company as a condition of declaring dividends on its preferred shares) or (ii) declare any other distribution on the Preferred Shares or purchase or redeem Preferred Shares if at the time of the declaration (and after giving effect thereto), asset coverage with respect to the Fund's senior securities representing indebtedness would be less than 300% (or such other percentage as may in the future be specified in or under the 1940 Act as the minimum asset coverage for senior securities representing indebtedness of a closed-end investment company as a condition of declaring distributions, purchases or redemptions of its shares of beneficial interest). "Senior securities representing indebtedness" generally means any bond, debenture, note or similar obligation or </font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>PREF-4</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=20,FOLIO='PREF-4',FILE='21-5399-3.de.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">instrument constituting a security (other than shares of beneficial interest) and evidencing indebtedness and could include the Fund's obligations under any Borrowings. The term "senior security" also does not include any promissory note or other evidence of indebtedness in any case where such a loan is for temporary purposes only and in an amount not exceeding 5% of the value of the total assets of the Fund at the time when the loan is made. A loan is presumed under the 1940 Act to be for temporary purposes if it is repaid within 60 days and is not extended or renewed; otherwise it is presumed not to be for temporary purposes. For purposes of determining whether the 200% and 300% asset coverage requirements described above apply in connection with dividends or distributions on or purchases or redemptions of Preferred Shares, such asset coverages may be calculated on the basis of values calculated as of a time within 48 hours (not including Sundays or holidays) next preceding the time of the applicable determination.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In addition, a declaration of a dividend or other distribution on, or purchase or redemption of, Preferred Shares may be prohibited (i) at any time when an event of default under any borrowings has occurred and is continuing; or (ii) if, after giving effect to such declaration, the Fund would not have eligible portfolio holdings with an aggregated discounted value at least equal to any asset coverage requirements associated with such borrowings; or (iii) the Fund has not redeemed the full amount of borrowings, if any, required to be redeemed by any provision for mandatory redemption.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Voting Rights</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund's common shares and Preferred Shares have equal voting rights of one vote per share and vote together as a single class. In elections of trustees, the holders of Preferred Shares, as a separate class, vote to elect two trustees. The Board of Trustees will determine to which class or classes the trustees elected by the holders of Preferred Shares will be assigned. The holders of the Preferred Shares shall only be entitled to elect the trustees so designated when their term shall have expired. Such trustees appointed by the holders of Preferred Shares will be allocated as evenly as possible among the classes of trustees.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">So long as any of the Preferred Shares are outstanding, the Fund will not, without the affirmative vote of the holders of a majority of the outstanding Preferred Shares, take certain other actions as described in the Indenture.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The common shares and the Preferred Shares also will vote separately to the extent otherwise required under Delaware law or the 1940 Act as in effect from time to time. The class votes of holders of Preferred Shares described above will in each case be in addition to any separate vote of the requisite percentage of common shares and Preferred Shares, voting together as a single class, necessary to authorize the action in question.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">For the purpose of any right of the holders of Preferred Shares to vote on any matter, whether the right is created by the Agreement and Declaration of Trust, by statute or otherwise, a holder of a Preferred Share is not entitled to vote and the Preferred Shares will not be deemed to be outstanding for the purpose of voting or determining the number of Preferred Shares required to constitute a quorum, if prior to or concurrently with a determination of the Preferred Shares entitled to vote or of Preferred Shares deemed outstanding for quorum purposes, as the case may be, a notice of redemption was given in respect of those Preferred Shares and sufficient deposit securities for the redemption of those Preferred Shares were deposited.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Redemption</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Mandatory Redemption.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under certain circumstances, the Preferred Shares will be subject to mandatory redemption by the Fund out of funds legally available therefor in accordance with the Statement and applicable law.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Optional Redemption.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under certain circumstances, to the extent permitted under the 1940 Act and Delaware law, the Fund may have the option to redeem, in whole or in part, Preferred Shares.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>PREF-5</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=21,FOLIO='PREF-5',FILE='21-5399-3.de.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Liquidation</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Subject to the rights of holders of any series or class or classes of shares ranking on a parity with Preferred Shares with respect to the distribution of assets upon liquidation of the Fund, upon a liquidation, dissolution or winding up of the affairs of the Fund, whether voluntary or involuntary, the holders of Preferred Shares then outstanding will be entitled to receive and to be paid out of the assets of the Fund available for distribution to its shareholders, after claims of creditors but before any payment or distribution is made on the common shares or any other shares of beneficial interest of the Fund ranking junior to the Preferred Shares, an amount equal to the liquidation preference with respect to such shares ($ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share), plus an amount equal to all unpaid dividends thereon. After the payment to the holders of Preferred Shares of the full preferential amounts provided for as described herein, the holders of Preferred Shares as such will have no right or claim to any of the remaining assets of the Fund.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If, upon any such liquidation, dissolution or winding up of the affairs of the Fund, whether voluntary or involuntary, the assets of the Fund available for distribution among the holders of all outstanding Preferred Shares, including each series, shall be insufficient to permit the payment in full to such holders of the amounts to which they are entitled, then such available assets shall be distributed among the holders of all outstanding Preferred Shares, including each series, ratably in any such distribution of assets according to the respective amounts which would be payable on all such shares if all amounts thereon were paid in full. Unless and until payment in full has been made to the holders of all outstanding Preferred Shares, including each series, of the liquidation distributions to which they are entitled, no dividends or distributions will be made to holders of common shares or any shares of beneficial interest of the Fund ranking junior to the Preferred Shares as to liquidation.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>UNDERWRITING</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[To be provided at the time of an offering.]</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>WHERE YOU CAN FIND MORE INFORMATION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund is subject to the informational requirements of the Securities Exchange Act of 1934 and the 1940 Act and is required to file reports, proxy statements and other information with the Securities and Exchange Commission. These documents can be inspected and copied for a fee at the Commission's public reference room, 100 F Street, N.E., Washington, D.C. 20549. Reports, proxy statements, and other information about the Fund can be inspected at the offices of the NASDAQ OMX Group Inc., 165 Broadway #4900, New York, NY 10006.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement and the accompanying prospectus do not contain all of the information in the Fund's registration statement, including amendments, exhibits, and schedules. Statements in this prospectus supplement and the accompanying prospectus about the contents of any contract or other document are not necessarily complete and in each instance reference is made to the copy of the contract or other document filed as an exhibit to the registration statement, each such statement being qualified in all respects by this reference.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Additional information about the Fund and Preferred Shares can be found in the Fund's registration statement (including amendments, exhibits, and schedules) on Form N-2 filed with the Commission. The Commission maintains a web site (http://www.sec.gov) that contains the Fund's registration statement, other documents incorporated by reference, and other information the Fund has filed electronically with the Commission, including proxy statements and reports filed under the Securities Exchange Act of 1934.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>PREF-6</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=22,FOLIO='PREF-6',FILE='21-5399-3.de.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>LEGAL MATTERS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, (" &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"), is counsel to the Fund. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;will pass on the legality of the securities to be offered hereby. If certain legal matters in connection with an offering of securities are passed upon by counsel for the underwriters of such offering, such matters will be passed upon by counsel to be identified in a prospectus supplement. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and counsel to the underwriters may rely on the opinion of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for certain matters of Delaware law.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[UNAUDITED] FINANCIAL STATEMENTS AS OF</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>, 20</b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>PREF-7</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=23,FOLIO='PREF-7',FILE='21-5399-3.de.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.dg-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>$<BR>Calamos Convertible Opportunities and Income Fund<BR>Preferred Shares<BR>Shares, Series</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>PROSPECTUS SUPPLEMENT<BR>, 20</b></font></p>
<p style="margin:0pt 0pt 24pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[Underwriters]</b></font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=24,FOLIO='',FILE='21-5399-3.dg.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.ea-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>SUBJECT TO COMPLETION, DATED [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]<BR></b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:9pt;"><b>The information in this prospectus supplement, which relates to an effective Registration Statement under the Securities Act of 1933, is not complete and may be changed. We may not sell these securities until we deliver a final prospectus supplement. This prospectus supplement and the attached prospectus do not constitute an offer to sell these securities or a solicitation of an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Form of Prospectus Supplement<BR>(To Prospectus dated [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;])</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:18pt;"><b>$</b></font></p>
<p style="margin:8pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:18pt;"><b>Calamos Convertible Opportunities and Income Fund</b></font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:14pt;"><b>Notes ("Calamos Notes")</b></font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:14pt;"><b>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, Due &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:14pt;"><b>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denominations</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Convertible Opportunities and Income Fund (the "Fund," "we," "us" or "our") is a diversified, closed-end management investment company. Our investment objective is to provide total return through a combination of capital appreciation and current income.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We are offering an aggregate principal amount of $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos Notes in this prospectus supplement. This prospectus supplement is not complete and should be read in conjunction with our prospectus dated  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 20  &nbsp;&nbsp;&nbsp; (the "prospectus"), which accompanies this prospectus supplement. This prospectus supplement does not include all information that you should consider before purchasing any Calamos Notes. You should read this prospectus supplement and our prospectus prior to purchasing any Calamos Notes.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The notes offered in this prospectus supplement are referred to as "Calamos Notes." Individual series of Calamos Notes are referred to as a "series." Except as otherwise described in this prospectus supplement, the terms of this series and all other series are the same.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investing in Calamos Notes involves certain risks, including the risks associated with the Fund's use of leverage. See "Risk Factors" beginning on page xx of the accompanying prospectus and on page [ &nbsp;&nbsp;&nbsp;] of this prospectus supplement.</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="306" valign="bottom" style="padding:6pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Per Share</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" align="center" valign="bottom" style="padding:6pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Total</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Public offering price</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Sales load</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Proceeds to us (before expenses)(1)</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$</font></p></td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">(1)&nbsp;&nbsp;Does not include offering expenses payable to us estimated to be $  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p>
<p style="margin:12pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The underwriters expect to deliver the Calamos Notes in book-entry form, through the facilities of The Depository Trust Company, to broker-dealers on or about  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[UNDERWRITER(S)]</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20</font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=25,FOLIO='',FILE='21-5399-3.ea.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement has been filed with the Securities and Exchange Commission (the "Commission"). Additional copies of this prospectus supplement, the prospectus, the statement of additional information dated  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , as supplemented from time to time, or the Fund's annual or semi-annual reports are available by calling (800) 582-6959 or by writing to the Fund, or you may obtain copies (and other information regarding us) from the Commission's web site (http://www.sec.gov). The Fund's annual and semi-annual reports are also available on the Fund's website at www.calamos.com, which provides a link to the Commission's website where the Fund's statement of additional information may be obtained. You also may e-mail requests for these documents to the Commission at publicinfo@sec.gov or make a request in writing to the SEC's Public Reference Section, 100 F Street, N.E., Room 1580, Washington, D.C. 20549.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement, which describes the specific terms of this offering, also adds to and updates information contained in the accompanying prospectus and the documents incorporated by reference in the prospectus. The prospectus gives more general information, some of which may not apply to this offering.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If the description of this offering varies between this prospectus supplement and the accompanying prospectus, you should rely on the information contained in this prospectus supplement; provided that if any statement in one of these documents is inconsistent with a statement in another document having a later date, the statement in the document having the later date modifies or supersedes the earlier statement.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Calamos Notes do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.</font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=26,FOLIO='',FILE='21-5399-3.ea.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>TABLE OF CONTENTS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Prospectus Supplement</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="420" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="65" align="center" valign="bottom" style="padding:0pt .7pt 4pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Page</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus Supplement Summary</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-1</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of Proceeds</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-3</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Capitalization</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-3</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Asset Coverage Requirements</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-3</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Description of Calamos Notes</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-4</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Underwriting</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-6</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Where You Can Find More Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-6</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Legal Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-7</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[Unaudited] Financial Statements as of  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">DEBT-7</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="7" width="485" align="center" valign="bottom" style="padding:10pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Prospectus</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Prospectus Summary</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">1</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Summary of Fund Expenses</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">23</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Financial Highlights</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">25</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Market and Net Asset Value Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">27</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of Proceeds</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">28</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">28</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Investment Objective and Principal Investment Strategies</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">29</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Leverage</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">37</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Interest Rate Transactions</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">43</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Risk Factors</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">45</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Management of the Fund</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">63</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Closed-End Fund Structure</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">67</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain Federal Income Tax Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">68</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net Asset Value</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">76</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Dividends and Distributions on Common Shares; Automatic Dividend Reinvestment Plan</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">78</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Description of Securities</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">83</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Rating Agency Guidelines</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">88</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Certain Provisions of the Agreement and Declaration of Trust And By-Laws, Including Antitakeover <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Provisions</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">90</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Plan of Distribution</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">92</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Custodian, Transfer Agent, Dividend Disbursing Agent and Registrar</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Legal Matters</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Experts</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">95</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="420" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Available Information</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">96</font></p></td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:12pt 0pt 9pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>You should rely on the information contained in or incorporated by reference in this prospectus supplement in making an investment decision. Neither we nor the underwriters have authorized anyone to provide you with different or inconsistent information. If anyone provides you with different or inconsistent information, you should not rely on it. We are not, and the underwriters are not, making an offer to sell these notes in any jurisdiction where the offer or sale is not permitted. You should assume that the information in this prospectus supplement is accurate only as of the date of this prospectus supplement, and that our business, financial condition and prospects may have changed since this date. We will amend or supplement this prospectus supplement to reflect material changes to the information contained in this prospectus supplement to the extent required by applicable law.</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>i</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=27,FOLIO='i',FILE='21-5399-3.ea.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement, the accompanying prospectus and the statement of additional information contain "forward-looking statements." Forward-looking statements can be identified by the words "may," "will," "intend," "expect," "estimate," "continue," "plan," "anticipate," and similar terms and the negative of such terms. Such forward-looking statements may be contained in this prospectus supplement, as well as in the accompanying prospectus. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Several factors that could materially affect our actual results are the performance of the portfolio of securities we hold, the conditions in the U.S. and international financial, petroleum and other markets, the price at which our shares will trade in the public markets and other factors discussed in our periodic filings with the Commission.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Although we believe that the expectations expressed in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties, such as those disclosed in the "Risk Factors" section of the prospectus accompanying this prospectus supplement. All forward-looking statements contained or incorporated by reference in this prospectus supplement or the accompanying prospectus are made as of the date of this prospectus supplement or the accompanying prospectus, as the case may be. Except for our ongoing obligations under the federal securities laws, we do not intend, and we undertake no obligation, to update any forward-looking statement. The forward-looking statements contained in this prospectus supplement are excluded from the safe harbor protection provided by section 27A of the Securities Act of 1933, as amended.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Currently known risk factors that could cause actual results to differ materially from our expectations include, but are not limited to, the factors described in the "Risk Factors" section of the prospectus accompanying this prospectus supplement. We urge you to review carefully this section for a more detailed discussion of the risks of an investment in the Calamos Notes.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>ii</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=28,FOLIO='ii',FILE='21-5399-3.ea.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.ec-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>PROSPECTUS SUPPLEMENT SUMMARY</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>This summary contains basic information about us but does not contain all of the information that is important to your investment decision. You should read this summary together with the more detailed information contained elsewhere in this prospectus supplement and accompanying prospectus and in the statement of additional information, especially the information set forth under the heading "Risk Factors" beginning on page 31 of the accompanying prospectus and on page [ &nbsp;&nbsp;&nbsp;] of this prospectus summary.</i></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The Fund</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund is a diversified, closed-end management investment company. Throughout the prospectus, we refer to Calamos Convertible Opportunities and Income Fund as the "Fund" or as "we," "us," or "our." See "The Fund." The Fund's common shares are traded on the NASDAQ Global Select Market ("NASDAQ") under the symbol "CHI." As of  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, the Fund had  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; common shares outstanding and net assets of $  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The Fund's principal offices are located at 2020 Calamos Court, Naperville, Illinois 60563. We have a fiscal year ending October 31st.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Our investment objective is to provide total return through a combination of capital appreciation and current income. There can be no assurance that we will achieve our investment objective. See "The Fund" in the accompanying prospectus.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We commenced operations in June 2002 following our initial public offering.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Investment Adviser</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Advisors LLC ("Calamos") is the Fund's investment adviser. Calamos is responsible on a day-to-day basis for investment of the Fund's portfolio in accordance with its investment objective and policies. Calamos makes all investment decisions for the Fund and places purchase and sale orders for the Fund's portfolio securities. As of  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, Calamos managed approximately $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; billion in assets of individuals and institutions. Calamos is a wholly owned subsidiary of Calamos Investments LLC ("CILLC") and an indirect subsidiary of Calamos Asset Management, Inc.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund pays Calamos an annual fee, payable monthly, for its investment management services equal to &nbsp;&nbsp;&nbsp;&nbsp;% of the Fund's average weekly managed assets. See "Management of the Fund" in the accompanying prospectus.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The principal business address of the Adviser is 2020 Calamos Court, Naperville, Illinois 60563.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>The Offering</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Notes offered by the Fund</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; aggregate principal amount of Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos Notes. Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calamos Notes will be sold in denominations of $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and any integral multiple thereof. The Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos Notes are being offered by  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, as underwriters. See "Underwriting."</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Use of proceeds</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund estimates the net proceeds of the offering of Series Calamos &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, after payment of sales load and offering expenses, will be approximately $  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
</table>

</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>DEBT-1</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=29,FOLIO='DEBT-1',FILE='21-5399-3.ec.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund will invest the net proceeds of any sales of securities in accordance with our investment objective and policies. Such investments may be delayed if suitable investments are unavailable at the time or for other reasons. Pending such investment, we anticipate that we will invest the proceeds in securities issued by the U.S. government or its agencies or instrumentalities or in high quality, short-term or long-term debt obligations. We may also use proceeds from the sale of our securities to (i) retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies, (ii) redeem any outstanding senior securities, and (iii) for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for this purpose. A delay in the anticipated use of proceeds could lower returns, reduce our distribution to common shareholders and reduce the amount of cash available to make dividend and interest payments on preferred shares and debt securities, respectively. See "Investment Objective and Principal Investment Strategies" in the accompanying prospectus.</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="163" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Risk factors</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="2215" align="left" valign="top" style="padding:0pt .7pt 7.5pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">See "Risk Factors" and other information included in the accompanying prospectus and in this prospectus supplement, for a discussion of factors you should carefully consider before deciding to invest in the Calamos Notes.</font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
</table>

</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>DEBT-2</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=30,FOLIO='DEBT-2',FILE='21-5399-3.ec.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.ee-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>USE OF PROCEEDS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund estimates the net proceeds of the offering of Calamos Notes, after payment of sales load and offering expenses, will be approximately $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The Fund will invest the net proceeds of any sales of securities in accordance with our investment objective and policies. Such investments may be delayed if suitable investments are unavailable at the time or for other reasons. Pending such investment, we anticipate that we will invest the proceeds in securities issued by the U.S. government or its agencies or instrumentalities or in high quality, short-term or long-term debt obligations. We may also use proceeds from the sale of our securities to (i) retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies, (ii) redeem any outstanding senior securities, and (iii) for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for this purpose. A delay in the anticipated use of proceeds could lower returns, reduce our distribution to common shareholders and reduce the amount of cash available to make dividend and interest payments on preferred shares and debt securities, respectively. See "Investment Objective and Principal Investment Strategies" in the accompanying prospectus.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>CAPITALIZATION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The following table sets forth the capitalization of the Fund as of  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, and as adjusted, to give effect to the issuance of all the Calamos Notes offered hereby (including estimated offering expenses and sales load of $  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;). The sales load and offering expenses of the Calamos Notes will be effectively borne by common shareholders.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="306" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Actual</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="102" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>As Adjusted<BR></b></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:8pt;"><b>Calamos Notes</b></font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="11" width="494" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Long-Term Debt</b></font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Notes, denominations of $  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or any multiple thereof</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Loan</b></font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="11" width="494" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Shareholders Equity</b></font></p></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Preferred Shares, no par value per share, $25,000 stated value per share, <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">at liquidation value; unlimited shares authorized (no shares issued; <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">and  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued, respectively)*</font></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Common shares, no par value per share, unlimited shares <BR></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">authorized,  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares outstanding*</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Undistributed net investment income</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Accumulated net realized gain (loss) on investments</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Net Unrealized appreciation (depreciation) on investments</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="306" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Net Assets</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="49" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="21" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="73" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
 &nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p style="margin:8pt 0pt 0pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">*&nbsp;&nbsp;None of these outstanding shares are held by or for the account of the Fund</font></p>
<p style="margin:18pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>ASSET COVERAGE REQUIREMENTS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Fund may be subject to certain restrictions on investments imposed by guidelines of one or more rating agencies that may issue ratings for the preferred shares or debt instruments issued by the Fund. These guidelines may impose asset coverage or portfolio composition requirements that are more stringent than those imposed by the 1940 Act. Certain types of borrowings may result in the Fund being subject to covenants in credit agreements, including those relating to asset coverage, borrowing base and portfolio composition requirements and additional covenants. The Fund may also be required to pledge its assets to the lenders in connection with certain types of borrowing. Calamos does not anticipate that these covenants or restrictions will adversely affect its ability to manage the Fund's portfolio in accordance with the Fund's investment objective and policies. Due to these </font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>DEBT-3</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=31,FOLIO='DEBT-3',FILE='21-5399-3.ee.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">covenants or restrictions, the Fund may be forced to liquidate investments at times and at prices that are not favorable to the Fund, or the Fund may be forced to forgo investments that Calamos otherwise views as favorable.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>DESCRIPTION OF CALAMOS NOTES</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Notes of each series will rank on a parity with any other series of Calamos Notes as to the payment of interest and distribution of assets upon liquidation. All Calamos Notes rank senior to our common and preferred shares as to the payment of interest and distribution of assets upon liquidation. Under the 1940 Act, we may only issue one class of senior securities representing indebtedness other than promissory notes or other evidences of indebtedness not intended to be publicly distributed.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos Notes will be issued pursuant to the indenture between the Fund and the trustee dated as of  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, as it may be supplemented from time to time (referred to herein collectively as the "Indenture"). The following summary sets forth certain general terms and provisions of the Indenture under which the Calamos Notes may be issued. The summary is not complete and is qualified in its entirety by the provisions of the Indenture, a more detailed summary of which is contained in Appendix &nbsp;&nbsp;&nbsp;&nbsp; to the statement of additional information, which is on file with the Commission. Whenever defined terms are used, but not defined in this prospectus supplement, the terms have the meaning given to them in Appendix &nbsp;&nbsp;&nbsp;&nbsp; to the statement of additional information.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>General</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Board of Trustees has authorized us to issue the Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calamos Notes representing indebtedness pursuant to the terms of the Indenture. Currently, the Indenture provides for the issuance of up to $  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;aggregate principal amount of Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calamos Notes. The principal amount of the Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calamos Notes is due and payable on  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The Series &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos Notes, when issued and sold pursuant to the terms of the Indenture, will be issued in fully registered form without coupons and in denominations of $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and any integral multiple thereof, unless otherwise provided in the Indenture. The Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calamos Notes will be unsecured obligations of ours and, upon our liquidation, dissolution or winding up, will rank: (1) senior to our outstanding common shares and any outstanding preferred shares; (2) on a parity with any of our unsecured creditors, including any other series of Calamos Notes; and (3) junior to any of our secured creditors. The Calamos Notes may be subject to optional and mandatory redemption and acceleration of maturity, as described in the Indenture and the accompanying prospectus under "Description of Securities &#151; Debt Securities &#151; Events of Default and Acceleration of Maturity of Debt Securities; Remedies."</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Calamos Notes have no voting rights, except to the extent required by law or as otherwise provided in the Indenture relating to the acceleration of maturity upon the occurrence and continuance of an event of default.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Unsecured Investment</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The Calamos Notes represent an unsecured obligation of ours to pay interest and principal, when due. We cannot assure you that we will have sufficient funds or that we will be able to arrange for additional financing to pay interest on the Calamos Notes when due or to repay the Calamos Notes at the Stated Maturity. Our failure to pay interest on the Calamos Notes when due or to repay the Calamos Notes upon the Stated Maturity would, subject to the cure provisions under the Indenture, constitute an event of default under the Indenture and could cause a default under other agreements that we may enter into from time to time. There is no sinking fund with respect to the Calamos Notes, and at the Stated Maturity, the entire outstanding principal amount of the Calamos Notes will become due and payable.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>DEBT-4</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=32,FOLIO='DEBT-4',FILE='21-5399-3.ee.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Securities Depository</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">The nominee of the Securities Depository is expected to be the sole record holder of the Calamos Notes. Accordingly, each purchaser of Calamos Notes must rely on (1) the procedures of the Securities Depository and, if such purchaser is not a member of the Securities Depository, such purchaser's Agent Member, to receive interest payments and notices and (2) the records of the Securities Depository and, if such purchaser is not a member of the Securities Depository, such purchaser's Agent Member, to evidence its ownership of the Calamos Notes.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Purchasers of Calamos Notes will not receive certificates representing their ownership interest in such securities. DTC initially will act as Securities Depository for the Agent Members with respect to the Calamos Notes.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Interest and Rate Periods</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Calamos Notes will bear interest from the Original Issue Date at the Applicable Rate and shall be payable on each Interest Payment Date thereafter. Interest will be paid through the Securities Depository on each Interest Payment Date. Interest on the Calamos Notes shall be payable when due as described in this prospectus supplement. If we do not pay interest when due, it will trigger an event of default under the Indenture (subject to the cure provisions), and we will be restricted from declaring dividends and making other distributions with respect to our common shares and preferred shares.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Redemption</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Optional Redemption.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> To the extent permitted under the 1940 Act, Delaware law and the Indenture, we may, at our option, redeem Calamos Notes, in whole or in part, out of funds legally available therefor, in accordance with the terms set forth in this prospectus supplement and the Indenture.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Mandatory Redemption.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Under certain circumstances described in this prospectus supplement and the Indenture, the Calamos Notes will be subject to mandatory redemption out of funds legally available therefor. The redemption price per Calamos Note in the event of any mandatory redemption will be not less than the principal amount, plus an amount equal to accrued but unpaid interest to the date fixed for redemption.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><i>Redemption Procedure.</i></font><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> Pursuant to Rule 23c-2 under the 1940 Act, we will file a notice of our intention to redeem with the Commission so as to provide at least the minimum notice required by such Rule or any successor provision (notice currently must be filed with the Commission generally at least 30 days prior to the redemption date).</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If less than all of the outstanding Calamos Notes of a series are redeemed on any date, the amount per holder to be redeemed on such date will be selected by us on a pro rata basis in proportion to the principal amount of Calamos Notes held by such holder, by lot or by such other method as is determined by us to be fair and equitable.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">If Notice of Redemption has been given, then upon the deposit of funds with the Paying Agent sufficient to effect such redemption, interest on such Calamos Notes will cease to accrue and such Calamos Notes will no longer be deemed to be outstanding for any purpose and all rights of the holders of the Calamos Notes so called for redemption will cease and terminate, except the right of the holders of such Calamos Notes to receive the redemption price, but without any interest or additional amount.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">So long as any Calamos Notes are held of record by the nominee of the Securities Depository, the redemption price for such Calamos Notes will be paid on the redemption date to the nominee of the Securities Depository. The Securities Depository's normal procedures provide for it to distribute the amount of the redemption price to Agent Members who, in turn, are expected to distribute such funds to the persons for whom they are acting as agent.</font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>DEBT-5</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=33,FOLIO='DEBT-5',FILE='21-5399-3.ee.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Notwithstanding the provisions for redemption described above, no Calamos Notes may be redeemed unless all interest in arrears on the outstanding Calamos Notes, and any of our indebtedness ranking on a parity with the Calamos Notes, have been or are being contemporaneously paid or set aside for payment, except in connection with our liquidation, in which case all Calamos Notes and all indebtedness ranking on a parity with the Calamos Notes must receive proportionate amounts. At any time we may purchase or acquire all the outstanding Calamos Notes pursuant to the successful completion of an otherwise lawful purchase or exchange offer made on the same terms to, and accepted by, holders of all outstanding Calamos Notes.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>Payment of Proceeds Upon Dissolution, Etc.</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">In the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to us or to our creditors, as such, or to our assets, or (b) our liquidation, dissolution or other winding up, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) our assignment for the benefit of creditors or any other marshalling of assets and liabilities, then (after any payments with respect to our secured creditor outstanding at such time) and in any such event the holders of Calamos Notes shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Calamos Notes (including any interest accruing thereon after the commencement of any such case or proceeding), or provision shall be made for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of the Calamos Notes, before the holders of any of our common or preferred shares are entitled to receive any payment on account of any redemption proceeds, liquidation preference or dividends from such shares, and to that end the holders of Calamos Notes shall be entitled to receive, for application to the payment thereof, any payment or distribution of any kind or character, whether in cash, property or securities, including any such payment or distribution which may be payable or deliverable by reason of the payment of any of our other indebtedness being subordinated to the payment of the Calamos Notes, which may be payable or deliverable in respect of the Calamos Notes in any such case, proceeding, dissolution, liquidation or other winding up event.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Unsecured creditors of ours may include, without limitation, service providers including Calamos, the Fund's custodian, the Fund's administrator, broker-dealers and the trustee, pursuant to the terms of various contracts with us. Secured creditors of ours may include without limitation State Street Bank and Trust Company and other lenders to the Fund, parties entering into any interest rate swap, floor or cap transactions, or other similar transactions with us that create liens, pledges, charges, security interests, security agreements or other encumbrances on our assets.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>UNDERWRITING</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">[To be provided at the time of an offering.]</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>WHERE YOU CAN FIND MORE INFORMATION</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">We are subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the "1934 Act") and the 1940 Act and are required to file reports, including annual and semi-annual reports, proxy statements and other information with the Commission. We voluntarily file quarterly shareholder reports. Our most recent shareholder report filed with the Commission is for the period ended  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. These documents are available on the Commission's EDGAR system and can be inspected and copied for a fee at the Commission's public reference room, 100 F Street, N.E., Room 1580, Washington, D.C. 20549. Additional information about the operation of the public reference room facilities may be obtained by calling the Commission at (202) 551-5850.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">This prospectus supplement and the accompanying prospectus do not contain all of the information in our registration statement, including amendments, exhibits, and schedules. Statements in this prospectus supplement </font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>DEBT-6</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=34,FOLIO='DEBT-6',FILE='21-5399-3.ee.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">and the accompanying prospectus about the contents of any contract or other document are not necessarily complete and in each instance reference is made to the copy of the contract or other document filed as an exhibit to the registration statement, each such statement being qualified in all respects by this reference.</font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;">Additional information about us can be found in our Registration Statement (including amendments, exhibits, and schedules) on Form N-2 filed with the Commission. The Commission maintains a web site (http://www.sec.gov) that contains our Registration Statement, other documents incorporated by reference, and other information we have filed electronically with the Commission, including proxy statements and reports filed under the Exchange Act.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>LEGAL MATTERS</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="left"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , (" &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "), is counsel to the Fund.  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;will opine on the legality of the securities to be offered hereby. If certain legal matters in connection with an offering of securities are passed upon by counsel for the underwriters of such offering, such matters will be passed upon by counsel to be identified in a prospectus supplement. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and counsel to the underwriters may rely on the opinion of  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; for certain matters of Delaware law.</font></p>
<p style="margin:7pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[UNAUDITED] FINANCIAL STATEMENTS AS OF  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20</b></font></p>
</div><div style="margin:8pt 0pt 8pt 0pt;">
</div><p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>DEBT-7</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=35,FOLIO='DEBT-7',FILE='21-5399-3.ee.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>

<!-- Document name: 21-5399-3.eg-->
<div style="margin:8pt 0pt 8pt 0pt;">
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>$<BR>Calamos Convertible Opportunities and Income Fund<BR>Notes ("Calamos Notes")<BR>$  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20</b></font></p>
<p style="margin:0pt 0pt 12pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>PROSPECTUS SUPPLEMENT<BR> &nbsp;&nbsp;&nbsp;, 20</b></font></p>
<p style="margin:0pt 0pt 24pt 0pt;" align="center"><font face="Times New Roman PS Std, Times New Roman PS, Times New Roman, Times" style="font-size:10pt;"><b>[Underwriter]</b></font></p>
</div><hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=36,FOLIO='',FILE='21-5399-3.eg.qxp',USER='Unknown',CD='Feb 18 19:27 2021' -->
<br clear="all"><Div style="page-break-before:always;"></Div>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 218.85pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CALAMOS CONVERTIBLE
OPPORTUNITIES AND INCOME FUND STATEMENT OF ADDITIONAL INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Calamos
Convertible Opportunities and Income Fund (the &#8220;Fund&#8221;) is a diversified, closed-end management investment company.
This Statement of Additional Information relates to the offering, on an immediate, continuous or delayed basis, of up to $100,000,000
aggregate initial offering price of common shares, preferred shares or debt securities in one or more offerings. This Statement
of Additional Information does not constitute a prospectus, but should be read in conjunction with the prospectus relating thereto
dated the date hereof and any related prospectus supplement. This Statement of Additional Information does not include all information
that a prospective investor should consider before purchasing any of the Fund&#8217;s securities, and investors should obtain
and read the prospectus and any related prospectus supplement prior to purchasing such securities. A copy of the prospectus and
any related prospectus supplement may be obtained without charge by calling 800-582-6959. You may also obtain a copy of the prospectus
and any related prospectus supplement on the Securities and Exchange Commission&#8217;s website (http://www.sec.gov). Capitalized
terms used but not defined in this Statement of Additional Information have the same meanings ascribed to them in the prospectus
and any related prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">TABLE OF CONTENTS
FOR STATEMENT OF ADDITIONAL INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 95%"><FONT STYLE="color: #231F20">Use of Proceeds</FONT></TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="color: #231F20">S-2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Investment Objective and Policies</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Investment Restrictions</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-26</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Management of the Fund</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-28</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Certain Shareholders</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-47</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Portfolio Transactions</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-49</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Net Asset Value</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-50</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Repurchase of Common Shares</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-51</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Certain Federal Income Tax Matters</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-52</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Custodian, Transfer Agent, Dividend Disbursing Agent and Registrar</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-65</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Independent Registered Public Accounting Firm</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-65</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="color: #231F20">Additional Information</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-66</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Additional Information Concerning the Agreement and Declaration
    of Trust</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">S-66</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Financial Statements</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">F-1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Appendix A &ndash; Summary of Certain Provisions of the Indenture
    and Form of Supplemental Indenture</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">A-1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">Appendix B &ndash; Description of Ratings</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="color: #231F20">B-1</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 92.15pt 0pt 89.25pt; text-align: center"> This Statement of
Additional Information is dated March 1, 2021. </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 92.15pt 0pt 89.25pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 92.15pt 0pt 89.25pt; text-align: center"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 92.15pt 0pt 89.25pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Unless otherwise specified
in a prospectus supplement, we currently intend to use the net proceeds from the sale of our securities primarily to invest in
accordance with our investment objective and policies within approximately three months of receipt of such proceeds. We may also
use proceeds from the sale of our securities to retire all or a portion of any short-term debt we incur in pursuit of our investment
objective and policies and for working capital purposes, including the payment of interest and operating expenses, although there
is currently no intent to issue securities primarily for these purposes. Pending such investments, the net proceeds may be invested
in U.S. government securities and high grade, short-term money market instruments. If necessary, the Fund may also purchase, as
temporary investments, securities of other open- or closed-end investment companies that invest primarily in the types of securities
in which the Fund may invest directly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">INVESTMENT OBJECTIVE AND POLICIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The prospectus presents the
investment objective and the principal investment strategies and risks of the Fund. This section supplements the disclosure in
the Fund&#8217;s prospectus and provides additional information on the Fund&#8217;s investment policies or restrictions. Restrictions
or policies stated as a maximum percentage of the Fund&#8217;s assets are only applied immediately after a portfolio investment
to which the policy or restriction is applicable (other than the limitations on borrowing). Accordingly, any later increase or
decrease resulting from a change in values, managed assets or other circumstances will not be considered in determining whether
the investment complies with the Fund&#8217;s restrictions and policies.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Primary Investments</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances,
the Fund invests at least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income
securities. The Fund will provide written notice to shareholders at least 60 days prior to any change to the requirement that
it invest at least 80% of its managed assets as described in the sentence above. The portion of the Fund&#8217;s assets invested
in convertible securities and non-convertible income securities will vary from time to time consistent with the Fund&#8217;s investment
objective, changes in equity prices and changes in interest rates and other economic and market factors, although, under normal
circumstances, the Fund will invest at least 35% of its managed assets in convertible securities. &#8220;Managed assets&#8221;
means the total assets of the Fund (including any assets attributable to any leverage that may be outstanding) minus the sum of
accrued liabilities (other than debt representing financial leverage). For this purpose, the liquidation preference on the preferred
shares will not constitute a liability.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Convertible Securities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Convertible securities include
any corporate debt security or preferred stock that may be converted into underlying shares of common stock. The common stock
underlying convertible securities may be issued by a different entity than the issuer of the convertible securities. Convertible
securities entitle the holder to receive interest payments paid on corporate debt securities or the dividend preference on a preferred
stock until such time as the convertible security matures or is redeemed or until the holder elects to exercise the conversion
privilege. As a result of the conversion feature, however, the interest rate or dividend preference on a convertible security
is generally less than would be the case if the security were a non-convertible obligation. The value of convertible securities
is influenced by both the yield of non-convertible securities of comparable issuers and by the value of the underlying common
stock. A convertible security&#8217;s value viewed without regard to its conversion feature (i.e., strictly on the basis of its
yield) is sometimes referred to as its &#8220;investment value.&#8221; A convertible security&#8217;s investment value typically
will fluctuate inversely with changes in prevailing interest rates. However, at the same time, the convertible security will be
influenced by its &#8220;conversion value,&#8221; which is the market value of the underlying common stock that would be obtained
if the convertible security were converted. Conversion value fluctuates directly with the price of the underlying common stock.</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">If, because of a low price
of the common stock, a convertible security&#8217;s conversion value is substantially below its investment value, the convertible
security&#8217;s price is governed principally by its investment value. If a convertible security&#8217;s conversion value increases
to a point that approximates or exceeds its investment value, the convertible security&#8217;s value will be principally influenced
by its conversion value. A convertible security will sell at a premium over its conversion value to the extent investors place
value on the right to acquire the underlying common stock while holding a fixed income security. Holders of convertible securities
have a claim on the issuer&#8217;s assets prior to the common stockholders, but may be subordinated to holders of similar non-convertible
securities of the same issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Synthetic Convertible Instruments</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">Calamos Advisors LLC (&#8220;Calamos&#8221;)
may create a &#8220;synthetic&#8221; convertible instrument by combining fixed income securities with the right to acquire equity
securities. More flexibility is possible in the assembly of a synthetic convertible instrument than in the purchase of a convertible
security. Although synthetic convertible instruments may be selected where the two components are issued by a single issuer, thus
making the synthetic convertible instrument similar to the true convertible security, the character of a synthetic convertible
instrument allows the combination of components representing distinct issuers, when Calamos believes that such a combination would
better promote the Fund&#8217;s investment objective. A synthetic convertible instrument also is a more flexible investment in
that its two components may be purchased separately. For example, the Fund may purchase a warrant for inclusion in a synthetic
convertible instrument but temporarily hold short-term investments while postponing the purchase of a corresponding bond pending
development of more favorable market conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">A holder of a synthetic convertible
instrument faces the risk of a decline in the price of the security or the level of the index involved in the convertible component,
causing a decline in the value of the call option or warrant purchased to create the synthetic convertible instrument. Should
the price of the stock fall below the exercise price and remain there throughout the exercise period, the entire amount paid for
the call option or warrant would be lost. Because a synthetic convertible instrument includes the fixed-income component as well,
the holder of a synthetic convertible instrument also faces the risk that interest rates will rise, causing a decline in the value
of the fixed-income instrument.</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may also purchase
synthetic convertible instruments manufactured by other parties, including convertible structured notes. Convertible structured
notes are fixed income debentures linked to equity, and are typically issued by investment banks. Convertible structured notes
have the attributes of a convertible security; however, the investment bank that issued the convertible note assumes the credit
risk associated with the investment, rather than the issuer of the underlying common stock into which the note is convertible.</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund&#8217;s holdings
of synthetic convertible instruments are considered convertible securities for purposes of the Fund&#8217;s policy to invest at
least 35% of its managed assets in convertible securities and 80% of its managed assets in a diversified portfolio of convertible
and non-convertible income securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Zero
Coupon and Payment-in-Kind Securities</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Investments
in zero coupon and payment-in-kind securities are subject to certain risks, including that market prices of zero coupon and
payment-in-kind securities generally are more volatile than the prices of securities that pay interest periodically and in
cash, and are likely to respond to changes in interest rates to a greater degree than other types of debt securities with
similar maturities and credit quality. Because zero coupon securities bear no interest, their prices are especially volatile.
And because zero coupon bondholders do not receive interest payments, the prices of zero coupon securities generally fall
more dramatically than those of bonds that pay interest on a current basis when interest rates rise. However, when interest
rates fall, the prices of zero coupon securities generally rise more rapidly in value than those of similar interest paying
bonds. Under many market and other conditions, the market for the zero coupon and payment-in-kind securities may suffer
decreased liquidity making it difficult for the Fund to dispose of them or to determine their current value. In addition, as
these securities may not pay cash interest, the Fund&#8217;s investment exposure to these securities and their risks,
including credit risk, will increase during the time these securities are held in the Fund&#8217;s portfolio. Further, to
maintain its qualification for treatment as a regulated investment company and to avoid Fund-level U.S. federal income and/or
excise taxes, the Fund is required to distribute to its shareholders any income it is deemed to have received in respect of
such investments, notwithstanding that cash has not been received currently, and the value of paid-in-kind interest.
Consequently, the Fund may have to dispose of portfolio securities under disadvantageous circumstances to generate the cash,
or may have to leverage itself by borrowing the cash to satisfy this distribution requirement. The required distributions, if
any, would result in an increase in the Fund&#8217;s exposure to these securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">High Yield Securities</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">A
substantial portion of the Fund&#8217;s assets may be invested in below investment grade (high yield) securities. The high yield
securities in which the Fund invests are rated &#8220;Ba&#8221; or lower by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;)
or &#8220;BB&#8221; or lower by Standard &amp; Poor&#8217;s Corporation, a division of The McGraw-Hill Companies (&#8220;S&amp;P&#8221;
or &#8220;Standard &amp; Poor&#8217;s&#8221;) or are unrated but determined by Calamos to be of comparable quality. Non- convertible
debt securities rated below investment grade are commonly referred to as &#8220;junk bonds&#8221; and are considered speculative
with respect to the issuer&#8217;s capacity to pay interest and repay principal.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Below
investment grade non-convertible debt securities or comparable unrated securities are susceptible to greater risk of default or
decline in market value due to adverse economic and business developments than higher-rated debt securities. The market values
for high yield securities tend to be very volatile, and these securities are less liquid than investment grade debt securities.
For these reasons, your investment in the Fund is subject to the following specific risks:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">increased
                                         price sensitivity to changing interest rates and to a deteriorating economic environment;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">greater
                                         risk of loss due to default or declining credit quality;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 62.3pt"><FONT STYLE="font-size: 10pt">adverse
                                         company specific events are more likely to render the issuer unable to make interest
                                         and/or principal payments; and</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-right: 62.3pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 75.3pt"><FONT STYLE="font-size: 10pt">if
                                         a negative perception of the high yield market develops, the price and liquidity of high
                                         yield securities may be depressed. This negative perception could last for a significant
                                         period of time.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Securities
rated below investment grade are speculative with respect to the capacity to pay interest and repay principal in accordance with
the terms of such securities. A rating of &#8220;Ba1&#8221; from Moody&#8217;s means that the issue so rated can have speculative
elements and is subject to substantial credit risk. Standard &amp; Poor&#8217;s assigns a rating of &#8220;BB+&#8221; to issues
that are less vulnerable to nonpayment than other speculative issues, but nonetheless subject to major ongoing uncertainties or
exposure to adverse business, financial, or economic conditions which could lead to the obligor&#8217;s inadequate capacity to
meet its financial commitment on the obligation. A rating of &#8220;C&#8221; from Moody&#8217;s means that the issue so rated
can be regarded as having extremely poor prospects of ever attaining any real investment standing. Standard &amp; Poor&#8217;s
assigns a rating of &#8220;C&#8221; to issues that are currently highly vulnerable to nonpayment, and the &#8220;C&#8221; rating
may be used to cover a situation where a bankruptcy petition has been filed or similar action taken, but payments on the obligation
are being continued (a &#8220;C&#8221; rating is also assigned to a preferred stock issue in arrears on dividends or sinking fund
payments, but that is currently paying). See Appendix B to this Statement of Additional Information for a description of Moody&#8217;s
and Standard &amp; Poor&#8217;s ratings.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Adverse
changes in economic conditions are more likely to lead to a weakened capacity of a high yield issuer to make principal
payments and interest payments than an investment grade issuer. The principal amount of high yield securities outstanding has
proliferated in the past decade as an increasing number of issuers have used high yield securities for corporate financing.
An economic downturn could severely affect the ability of highly leveraged issuers to service their debt obligations or to
repay their obligations upon maturity. Similarly, down-turns in profitability in specific industries could adversely affect
the ability of high yield issuers in that industry to meet their obligations. The market values of lower quality debt
securities tend to reflect individual developments of the issuer to a greater extent than do higher quality securities, which
react primarily to fluctuations in the general level of interest rates. Factors having an adverse impact on the market value
of lower quality securities may have an adverse effect on the Fund&#8217;s net asset value and the market value of its common
shares. In addition, the Fund may incur additional expenses to the extent it is required to seek recovery upon a default in
payment of principal or interest on its portfolio holdings. In certain circumstances, the Fund may be required to foreclose
on an issuer&#8217;s assets and take possession of its property or operations. In such circumstances, the Fund would incur
additional costs in disposing of such assets and potential liabilities from operating any business acquired.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
secondary market for high yield securities may not be as liquid as the secondary market for more highly rated securities, a factor
which may have an adverse effect on the Fund&#8217;s ability to dispose of a particular security when necessary to meet its liquidity
needs. There are fewer dealers in the market for high yield securities than investment grade obligations. The prices quoted by
different dealers may vary significantly and the spread between the bid and asked price is generally much larger than higher quality
instruments. Under adverse market or economic conditions, the secondary market for high yield securities could contract further,
independent of any specific adverse changes in the condition of a particular issuer, and these instruments may become illiquid.
As a result, the Fund could find it more difficult to sell these securities or may be able to sell the securities only at prices
lower than if such securities were widely traded. Prices realized upon the sale of such lower rated or unrated securities, under
these circumstances, may be less than the prices used in calculating the Fund&#8217;s net asset value.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Because
investors generally perceive that there are greater risks associated with lower quality debt securities of the type in which the
Fund may invest a portion of its assets, the yields and prices of such securities may tend to fluctuate more than those for higher
rated securities. In the lower quality segments of the debt securities market, changes in perceptions of issuers&#8217; creditworthiness
tend to occur more frequently and in a more pronounced manner than do changes in higher quality segments of the debt securities
market, resulting in greater yield and price volatility.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">If
the Fund invests in high yield securities that are rated C or below, the Fund will incur significant risk in addition to the risks
associated with investments in high yield securities and corporate loans. Distressed securities frequently do not produce income
while they are outstanding. The Fund may purchase distressed securities that are in default or the issuers of which are in bankruptcy.
The Fund may be required to bear certain extraordinary expenses in order to protect and recover its investment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Distressed Securities</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may, but currently does not intend to, invest up to 5% of its managed assets in distressed securities, including corporate
loans, which are the subject of bankruptcy proceedings or otherwise in default as to the repayment of principal and/or payment
of interest at the time of acquisition by the Fund or are rated in the lower rating categories (&#8220;Ca&#8221; or lower by Moody&#8217;s
or &#8220;CC&#8221; or lower by Standard &amp; Poor&#8217;s) or which are unrated investments considered by Calamos to be of comparable
quality. Investment in distressed securities is speculative and involves significant risk of loss. Distressed securities frequently
do not produce income while they are outstanding and may require the Fund to bear certain extraordinary expenses in order to protect
and recover its investment. Therefore, to the extent the Fund seeks capital appreciation through investment in distressed securities,
the Fund&#8217;s ability to achieve current income for its shareholders may be diminished. The Fund also will be subject to significant
uncertainty as to when and in what manner and for what value the obligations evidenced by the distressed securities will eventually
be satisfied (e.g., through a liquidation of the obligor&#8217;s assets, an exchange offer or plan of reorganization involving
the distressed securities or a payment of some amount in satisfaction of the obligation). In addition, even if an exchange offer
is made or a plan of reorganization is adopted with respect to distressed securities held by the Fund, there can be no assurance
that the securities or other assets received by the Fund in connection with such exchange offer or plan of reorganization will
not have a lower value or income potential than may have been anticipated when the investment was made. Moreover, any securities
received by the Fund upon completion of an exchange offer or plan of reorganization may be restricted as to resale. As a result
of the Fund&#8217;s participation in negotiations with respect to any exchange offer or plan of reorganization with respect to
an issuer of distressed securities, the Fund may be restricted from disposing of such securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Loans</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest in loan participations and other direct claims against a borrower. The corporate loans in which the Fund may invest
primarily consist of direct obligations of a borrower and may include debtor in possession financings pursuant to Chapter 11 of
the U.S. Bankruptcy Code, obligations of a borrower issued in connection with a restructuring pursuant to Chapter 11 of the U.S.
Bankruptcy Code, leveraged buy-out loans, leveraged recapitalization loans, receivables purchase facilities, and privately placed
notes. The Fund may invest in a corporate loan at origination as a co-lender or by acquiring in the secondary market participations
in, assignments of or novations of a corporate loan. By purchasing a participation, the Fund acquires some or all of the interest
of a bank or other lending institution in a loan to a corporate or government borrower. The participations typically will result
in the Fund having a contractual relationship only with the lender not the borrower. The Fund will have the right to receive payments
of principal, interest and any fees to which it is entitled only from the lender selling the participation and only upon receipt
by the lender of the payments from the borrower. Many such loans are secured, although some may be unsecured. Such loans may be
in default at the time of purchase. Loans that are fully secured offer the Fund more protection than an unsecured loan in the
event of non-payment of scheduled interest or principal. However, there is no assurance that the liquidation of collateral from
a secured loan would satisfy the corporate borrower&#8217;s obligation, or that the collateral can be liquidated. Direct debt
instruments may involve a risk of loss in case of default or insolvency of the borrower and may offer less legal protection to
the Fund in the event of fraud or misrepresentation. In addition, loan participations involve a risk of insolvency of the lending
bank or other financial intermediary. The markets in such loans are not regulated by federal securities laws or the Securities
and Exchange Commission (&#8220;SEC&#8221; or the &#8220;Commission&#8221;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">As
in the case of other high yield investments, such corporate loans may be rated in the lower rating categories of the
established rating services (&#8220;Ba&#8221; or lower by Moody&#8217;s or &#8220;BB&#8221; or lower by Standard &amp;
Poor&#8217;s), or may be unrated investments considered by Calamos to be of comparable quality. As in the case of other high
yield investments, such corporate loans can be expected to provide higher yields than lower yielding, higher rated fixed
income securities, but may be subject to greater risk of loss of principal and income. There are, however, some significant
differences between corporate loans and high yield bonds. Corporate loan obligations are frequently secured by pledges of
liens and security interests in the assets of the borrower, and the holders of corporate loans are frequently the
beneficiaries of debt service subordination provisions imposed on the borrower&#8217;s bondholders. These arrangements are
designed to give corporate loan investors preferential treatment over high yield investors in the event of a deterioration in
the credit quality of the issuer. Even when these arrangements exist, however, there can be no assurance that the borrowers
of the corporate loans will repay principal and/or pay interest in full. Corporate loans generally bear interest at rates set
at a margin above a generally recognized base lending rate that may fluctuate on a day-to-day basis, in the case of the prime
rate of a U.S. bank, or which may be adjusted on set dates, typically 30 days but generally not more than one year, in the
case of the London Interbank Offered Rate. Consequently, the value of corporate loans held by the Fund may be expected to
fluctuate significantly less than the value of other fixed rate high yield instruments as a result of changes in the interest
rate environment. On the other hand, the secondary dealer market for certain corporate loans may not be as well developed as
the secondary dealer market for high yield bonds, and therefore presents increased market risk relating to liquidity and
pricing concerns.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Foreign
Securities</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest up to 25% of its net assets in securities of foreign issuers. A foreign security is a security issued by a foreign
government or a company whose country of incorporation is a foreign country. For this purpose, foreign securities do not include
American Depositary Receipts (&#8220;ADRs&#8221;) or securities guaranteed by a U.S. person but which represent underlying shares
of foreign issuers, but may include foreign securities in the form of European Depositary Receipts (&#8220;EDRs&#8221;), Global
Depositary Receipts (&#8220;GDRs&#8221;) or other securities representing underlying shares of foreign issuers. Positions in those
securities are not necessarily denominated in the same currency as the common stocks into which they may be converted. ADRs are
receipts typically issued by an American bank or trust company evidencing ownership of the underlying securities. EDRs are European
receipts listed on the Luxembourg Stock Exchange evidencing a similar arrangement. GDRs are U.S. dollar- denominated receipts
issued by international banks evidencing ownership of foreign securities. Generally, ADRs, in registered form, are designed for
the U.S. securities markets and EDRs and GDRs, in bearer form, are designed for use in foreign securities markets. The Fund may
invest in sponsored or unsponsored ADRs. In the case of an unsponsored ADR, the Fund is likely to bear its proportionate share
of the expenses of the depository and it may have greater difficulty in receiving shareholder communications than it would have
with a sponsored ADR.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">To
the extent positions in portfolio securities are denominated in foreign currencies, the Fund&#8217;s investment performance is
affected by the strength or weakness of the U.S. dollar against those currencies. For example, if the dollar falls in value relative
to the Japanese yen, the dollar value of a Japanese stock held in the portfolio will rise even though the price of the stock remains
unchanged. Conversely, if the dollar rises in value relative to the yen, the dollar value of the Japanese stock will fall. (See
discussion of transaction hedging and portfolio hedging below under &#8220;Currency Exchange Transactions.&#8221;)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Investors
should understand and consider carefully the risks involved in foreign investing. Investing in foreign securities, which are generally
denominated in foreign currencies, and utilization of forward foreign currency exchange contracts involve certain considerations
comprising both risks and opportunities not typically associated with investing in U.S. securities. These considerations include:
fluctuations in exchange rates of foreign currencies; possible imposition of exchange control regulation or currency restrictions
that would prevent cash from being brought back to the United States less public information with respect to issuers of securities;
less governmental supervision of stock exchanges, securities brokers, and issuers of securities; lack of uniform accounting, auditing
and financial reporting standards; lack of uniform settlement periods and trading practices; less liquidity and frequently greater
price volatility in foreign markets than in the United States; greater costs of buying, holding and selling securities, including
brokerage, tax and custodial costs; and sometimes less advantageous legal, operational and financial protections applicable to
foreign sub-custodial arrangements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Although
the Fund intends primarily to invest in companies and government securities of countries having stable political environments,
there is the possibility of expropriation or confiscatory taxation, seizure or nationalization of foreign bank deposits or other
assets, establishment of exchange controls, the adoption of foreign government restrictions, or other adverse political, social
or diplomatic developments that could affect investment in these nations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest in the securities of issuers located in emerging market countries. The securities markets of emerging countries
are substantially smaller, less developed, less liquid and more volatile than the securities markets of the U.S. and other more
developed countries. Disclosure and regulatory standards in many respects are less stringent than in the U.S. and other major
markets. There also may be a lower level of monitoring and regulation of emerging markets and the activities of investors in such
markets, and enforcement of existing regulations has been extremely limited. Economies in individual emerging markets may differ
favorably or unfavorably from the U.S. economy in such respects as growth of gross domestic product, rates of inflation, currency
depreciation, capital reinvestment, resource self-sufficiency and balance of payments positions. Many emerging market countries
have experienced high rates of inflation for many years, which has had and may continue to have very negative effects on the economies
and securities markets of those countries.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Currency
Exchange Transactions</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Currency
exchange transactions may be conducted either on a spot (i.e., cash) basis at the spot rate for purchasing or selling
currency prevailing in the foreign exchange market or through forward currency exchange contracts (&#8220;forward
contracts&#8221;). Forward contracts are contractual agreements to purchase or sell a specified currency at a specified
future date (or within a specified time period) and price set at the time of the contract. Forward contracts are usually
entered into with banks, foreign exchange dealers and broker-dealers, are not exchange traded, and are usually for less than
one year, but may be renewed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Forward
currency exchange transactions may involve currencies of the different countries in which the Fund may invest and serve as hedges
against possible variations in the exchange rate between these currencies and the U.S. dollar. Currency exchange transactions
are limited to transaction hedging and portfolio hedging involving either specific transactions or portfolio positions, except
to the extent described below under &#8220;Synthetic Foreign Money Market Positions.&#8221; Transaction hedging is the purchase
or sale of forward contracts with respect to specific receivables or payables of the Fund accruing in connection with the purchase
and sale of its portfolio securities or the receipt of dividends or interest thereon. Portfolio hedging is the use of forward
contracts with respect to portfolio security positions denominated or quoted in a particular foreign currency. Portfolio hedging
allows the Fund to limit or reduce its exposure in a foreign currency by entering into a forward contract to sell such foreign
currency (or another foreign currency that acts as a proxy for that currency) at a future date for a price payable in U.S. dollars
so that the value of the foreign denominated portfolio securities can be approximately matched by a foreign denominated liability.
The Fund may not engage in portfolio hedging with respect to the currency of a particular country to an extent greater than the
aggregate market value (at the time of making such sale) of the securities held in its portfolio denominated or quoted in that
particular currency, except that the Fund may hedge all or part of its foreign currency exposure through the use of a basket of
currencies or a proxy currency where such currencies or currency act as an effective proxy for other currencies. In such a case,
the Fund may enter into a forward contract where the amount of the foreign currency to be sold exceeds the value of the securities
denominated in such currency. The use of this basket hedging technique may be more efficient and economical than entering into
separate forward contracts for each currency held in the Fund. The Fund may not engage in &#8220;speculative&#8221; currency exchange
transactions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">If
the Fund enters into a forward contract, its custodian will segregate liquid assets of the Fund having a value equal to the
Fund&#8217;s commitment under such forward contract from day to day, except to the extent that the Fund&#8217;s forward
contract obligation is covered by liquid portfolio securities denominated in, or whose value is tied to, the currency
underlying the forward contract. At the maturity of the forward contract to deliver a particular currency, the Fund may
either sell the portfolio security related to the contract and make delivery of the currency, or it may retain the security
and either acquire the currency on the spot market or terminate its contractual obligation to deliver the currency by
purchasing an offsetting contract with the same currency trader obligating it to purchase on the same maturity date the same
amount of the currency. It is impossible to forecast with absolute precision the market value of portfolio securities at the
expiration of a forward contract. Accordingly, it may be necessary for the Fund to purchase additional currency on the spot
market (and bear the expense of such purchase) if the market value of the security is less than the amount of currency the
Fund is obligated to deliver and if a decision is made to sell the security and make delivery of the currency. Conversely, it
may be necessary to sell on the spot market some of the currency received upon the sale of the portfolio security if its
market value exceeds the amount of currency the Fund is obligated to deliver.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">If
the Fund retains the portfolio security and engages in an offsetting currency transaction, it will incur a gain or a loss to the
extent that there has been movement in forward contract prices. If the Fund engages in an offsetting currency transaction, it
subsequently may enter into a new forward contract to sell the currency. Should forward prices decline during the period between
the Fund&#8217;s entering into a forward contract for the sale of a currency and the date it enters into an offsetting contract
for the purchase of the currency, the Fund will realize a gain to the extent the price of the currency it has agreed to sell exceeds
the price of the currency it has agreed to purchase. Should forward prices increase, the Fund will suffer a loss to the extent
the price of the currency it has agreed to purchase exceeds the price of the currency it has agreed to sell. A default on the
contract would deprive the Fund of unrealized profits or force the Fund to cover its commitments for purchase or sale of currency,
if any, at the current market price.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Hedging
against a decline in the value of a currency does not eliminate fluctuations in the value of a portfolio security traded in
that currency or prevent a loss if the value of the security declines. Hedging transactions also preclude the opportunity for
gain if the value of the hedged currency should rise. Moreover, it may not be possible for the Fund to hedge against a
devaluation that is so generally anticipated that the Fund is not able to contract to sell the currency at a price above the
devaluation level it anticipates. The cost to the Fund of engaging in currency exchange transactions varies with such factors
as the currency involved, the length of the contract period, and prevailing market conditions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Synthetic
Foreign Money Market Positions</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Fund may invest in money market instruments denominated in foreign currencies. In addition to, or in lieu of, such direct investment,
the Fund may construct a synthetic foreign money market position by (a) purchasing a money market instrument denominated in one
currency, generally U.S. dollars, and (b) concurrently entering into a forward contract to deliver a corresponding amount of that
currency in exchange for a different currency on a future date and at a specified rate of exchange. For example, a synthetic money
market position in Japanese yen could be constructed by purchasing a U.S. dollar money market instrument, and entering concurrently
into a forward contract to deliver a corresponding amount of U.S. dollars in exchange for Japanese yen on a specified date and
at a specified rate of exchange. Because of the availability of a variety of highly liquid short-term U.S. dollar money market
instruments, a synthetic money market position utilizing such U.S. dollar instruments may offer greater liquidity than direct
investment in foreign currency and a concurrent construction of a synthetic position in such foreign currency, in terms of both
income yield and gain or loss from changes in currency exchange rates, in general should be similar, but would not be identical
because the components of the alternative investments would not be identical. The Fund currently does not intend to invest a significant
amount of its assets in synthetic foreign money market positions.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Debt
Obligations of Non-U.S. Governments</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">An
investment in debt obligations of non-U.S. governments and their political subdivisions (sovereign debt) involves special risks
that are not present in corporate debt obligations. The non-U.S. issuer of the sovereign debt or the non-U.S. governmental authorities
that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have
limited recourse in the event of a default. During periods of economic uncertainty, the market prices of sovereign debt may be
more volatile than prices of debt obligations of U.S. issuers. In the past, certain non-U.S. countries have encountered difficulties
in servicing their debt obligations, withheld payments of principal and interest and declared moratoria on the payment of principal
and interest on their sovereign debt.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">A
sovereign debtor&#8217;s willingness or ability to repay principal and pay interest in a timely manner may be affected by, among
other factors, its cash flow situation, the extent of its foreign currency reserves, the availability of sufficient non-U.S. currency,
the relative size of the debt service burden, the sovereign debtor&#8217;s policy toward its principal international lenders and
local political constraints. Sovereign debtors may also be dependent on expected disbursements from non-U.S. governments, multilateral
agencies and other entities to reduce principal and interest arrearages on their debt. The failure of a sovereign debtor to implement
economic reforms, achieve specified levels of economic performance or repay principal or interest when due may result in the cancellation
of third-party commitments to lend funds to the sovereign debtor, which may further impair such debtor&#8217;s ability or willingness
to service its debts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Eurodollar
Instruments and Samurai and Yankee Bonds</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest in Eurodollar instruments and Samurai and Yankee bonds. Eurodollar instruments are bonds of corporate and government
issuers that pay interest and principal in U.S. dollars but are issued in markets outside the United States, primarily in Europe.
Samurai bonds are yen-denominated bonds sold in Japan by non-Japanese issuers. Yankee bonds are U.S. dollar-denominated bonds
typically issued in the U.S. by non-U.S. governments and their agencies and non-U.S. banks and corporations. The Fund may also
invest in Eurodollar Certificates of Deposit (&#8220;ECDs&#8221;), Eurodollar Time Deposits (&#8220;ETDs&#8221;) and Yankee Certificates
of Deposit (&#8220;Yankee CDs&#8221;). ECDs are U.S. dollar-denominated certificates of deposit issued by non-U.S. branches of
domestic banks; ETDs are U.S. dollar-denominated deposits in a non-U.S. branch of a U.S. bank or in a non-U.S. bank; and Yankee
CDs are U.S. dollar-denominated certificates of deposit issued by a U.S. branch of a non-U.S. bank and held in the U.S. These
investments involve risks that are different from investments in securities issued by U.S. issuers, including potential unfavorable
political and economic developments, non-U.S. withholding or other taxes, seizure of non-U.S. deposits, currency controls, interest
limitations or other governmental restrictions which might affect payment of principal or interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Lending
of Portfolio Securities</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund has authorized State Street Bank and Trust Company (&#8220;SSB&#8221;) as securities lending agent to lend portfolio securities
to broker-dealers and banks. Any such loan must be continuously secured by collateral received in cash under the terms of the
Amended and Restated Liquidity Agreement (&#8220;SSB Agreement&#8221;) between the Fund and SSB. Cash collateral held by SSB on
behalf of the Fund may be credited against the amounts borrowed under the SSB Agreement, such that the Fund will effectively bear
lower interest expense with respect to those borrowed amounts. Any amounts credited against the borrowings under SSB Agreement
would count against the Fund&#8217;s leverage limitations under the Investment Company Act of 1940, as amended (the &#8220;1940
Act&#8221;), unless otherwise covered in accordance with SEC Release IC-10666.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Under
the terms of the SSB Agreement, SSB will return the value of the collateral to the borrower upon the return of the lent securities,
which will eliminate the credit against the borrowings under SSB Agreement and will increase the balance on which the Fund will
pay interest. The Fund is obligated to make payment to the entity in the event SSB is unable to return the value of the collateral.
The Fund would continue to receive the equivalent of the interest or dividends paid by the issuer on the securities loaned, and
would also receive an additional return that may be in the form of a fixed fee or a percentage of income earned on the collateral.
The Fund may experience losses as a result of a diminution in value of its cash collateral investments. The Fund may pay reasonable
fees to persons unaffiliated with the Fund for services in arranging these loans. The Fund would have the right to call the loan
and obtain the securities loaned at any time on notice of not less than five business days. The Fund would not have the right
to vote the securities during the existence of the loan; however, the Fund may attempt to call back the loan and vote the proxy
if time permits prior to the record date. In the event of bankruptcy or other default of the borrower, the Fund could experience
both delays in liquidating the loaned collateral (or recovering the loaned securities) or losses, including (a) possible decline
in the value of the collateral or in the value of the securities loaned during the period while the Fund seeks to enforce its
rights thereto, (b) possible subnormal levels of income and lack of access to income during this period and (c) expenses of enforcing
its rights. The Fund may also experience losses as a result of the diminution in value of its cash collateral investments. In
an effort to reduce these risks, the Fund&#8217;s securities lending agent will monitor, and report to Calamos on, the creditworthiness
of the firms to which the Fund lends securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Options
on Securities, Indices and Currencies</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may purchase and sell (write) put options and call options on securities, indices or foreign currencies. The Fund may purchase
agreements, sometimes called cash puts, that may accompany the purchase of a new issue of bonds from a dealer. The successful
use of options depends principally on the price movements of the underlying securities, indices or other reference assets or rates.
Investing in options can result in a greater potential for profit or loss than directly investing in the underlying assets. The
value of an option may change because of, including but not limited to, a change in the value of the underlying assets, the passage
of time, changes in the market&#8217;s perception as to the future price behavior of the underlying assets or rates, or any combination
of the foregoing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">A
put option gives the purchaser of the option, upon payment of a premium, the right to sell, and the writer the obligation to
buy, the underlying security, commodity, index, currency or other instrument at the exercise price. For instance, the
Fund&#8217;s purchase of a put option on a security might be designed to protect its holdings in the underlying instrument
(or, in some cases, a similar instrument) against a substantial decline in the market value by giving the Fund the right to
sell such instrument at the option exercise price. A call option, upon payment of a premium, gives the purchaser of the
option the right to buy, and the seller the obligation to sell, the underlying instrument at the exercise price. The
Fund&#8217;s purchase of a call option on a security, financial future, index, currency or other instrument might be intended
to protect it against an increase in the price of the underlying instrument that it intends to purchase in the future by
fixing the price at which it may purchase such instrument.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Certain
options, known as &#8220;American style&#8221; options, may be exercised at any time during the term of the option. Other options,
known as &#8220;European style&#8221; options, may be exercised only on the expiration date of the option. The Fund expects that
substantially all of the options written by the Fund will be American style options.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may purchase and sell (write) exchange listed options and over-the-counter options (&#8220;OTC options&#8221;). Exchange
listed options are issued by a regulated intermediary such as the Options Clearing Corporation (&#8220;OCC&#8221;), which guarantees
the performance of the obligations of the parties to such options. The discussion below uses the OCC as an example, but is also
applicable to other financial intermediaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">With
certain exceptions, OCC issued and exchange listed options generally settle by physical delivery of the underlying security or
currency, although in the future cash settlement may become available. Index options and Eurodollar instruments are cash settled
for the net amount, if any, by which the option is &#8220;in-the-money&#8221; (i.e., where the value of the underlying instrument
exceeds, in the case of a call option, or is less than, in the case of a put option, the exercise price of the option) at the
time the option is exercised. Frequently, rather than taking or making delivery of the underlying instrument through the process
of exercising the option, listed options are closed by entering into offsetting purchase or sale transactions that do not result
in ownership of the new option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">OTC
options are purchased from or sold to securities dealers, financial institutions or other parties (&#8220;Counterparties&#8221;)
through direct bilateral agreement with the Counterparty. In contrast to exchange listed options, which generally have standardized
terms and performance mechanics, all the terms of an OTC option, including such terms as method of settlement, term, exercise
price, premium, guarantees and security, are set by negotiation of the parties. The Fund may sell (write) OTC options (other than
OTC currency options) that are subject to a buy-back provision permitting the Fund to require the Counterparty to sell the option
back to the Fund at a formula price within seven days. The Fund generally is expected to enter into OTC options that have cash
settlement provisions, although it is not required to do so. The staff of the SEC currently takes the position that OTC options
purchased by a fund, and portfolio securities &#8220;covering&#8221; the amount of a fund&#8217;s obligation pursuant to an OTC
option sold by it (or the amount of assets equal to the formula price for the repurchase of the option, if any, less the amount
by which the option is &#8220;in the money&#8221;) are illiquid.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may also purchase and sell (write) options on securities indices and other financial indices. Options on securities indices
and other financial indices are similar to options on a security or other instrument except that, rather than settling by physical
delivery of the underlying instrument, they settle by cash settlement, i.e., an option or an index gives the holder the right
to receive, upon exercise of the option, an amount of cash if the closing level of the index upon which the option is based exceeds,
in the case of a call, or is less than, in the case of a put, the exercise price of the option (except if, in the case of an OTC
option, physical delivery is specified). This amount of cash is equal to the excess of the closing price of the index over the
exercise price of the option, which also may be multiplied by a formula value. The seller of the option is obligated, in return
for the premium received, to make delivery of this amount. The gain or loss on an option on an index depends on price movements
in the instruments making upon the market, market segment, industry or other composite on which the underlying index is based,
rather than primarily on the price movements in individual securities, as is the case with respect to options on securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund will write call options and put options only if they are &#8220;covered.&#8221; For example, a call option written by the
Fund will require the Fund to hold the securities subject to the call (or securities convertible into the needed securities without
additional consideration) or to segregate cash or liquid assets sufficient to purchase and deliver the securities if the call
is exercised. A call option sold by the Fund on an index will require the Fund to own portfolio securities which correlate with
the index or to segregate cash or liquid assets equal to the excess of the index value over the exercise price on a current basis.
A put option written by the Fund requires the Fund to segregate cash or liquid assets equal to the exercise price.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">OTC
options entered into by the Fund and OCC issued and exchange listed index options will generally provide for cash settlement.
As a result, when the Fund sells these instruments it will only segregate an amount of cash or liquid assets equal to its accrued
net obligations, as there is no requirement for payment or delivery of amounts in excess of the net amount. These amounts will
equal 100% of the exercise price in the case of a non cash-settled put, the same as an OCC guaranteed listed option sold by the
Fund, or the in-the-money amount plus any sell-back formula amount in the case of a cash-settled put or call. In addition, when
the Fund sells a call option on an index at a time when the in-the-money amount exceeds the exercise price, the Fund will segregate,
until the option expires or is closed out, cash or cash equivalents equal in value to such excess. OCC issued and exchange listed
options sold by the Fund other than those above generally settle with physical delivery, or with an election of either physical
delivery or cash settlement and the Fund will segregate an amount of cash or liquid assets equal to the full value of the option.
OTC options settling with physical delivery, or with an election of either physical delivery or cash settlement, will be treated
the same as other options settling with physical delivery.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
an option written by the Fund expires, the Fund realizes a capital gain equal to the premium received at the time the option was
written. If an option purchased by the Fund expires, the Fund realizes a capital loss equal to the premium paid.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Prior
to the earlier of exercise or expiration, an option may be closed out by an offsetting purchase or sale of an option of the same
series (type, exchange, underlying security or index, exercise price and expiration). There can be no assurance, however, that
a closing purchase or sale transaction can be effected when the Fund desires.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund will realize a capital gain from a closing purchase transaction if the cost of the closing option is less than the premium
received from writing the option, or, if it is more, the Fund will realize a capital loss. If the premium received from a closing
sale transaction is more than the premium paid to purchase the option, the Fund will realize a capital gain or, if it is less,
the Fund will realize a capital loss. The principal factors affecting the market value of a put or a call option include supply
and demand, interest rates, the current market price of the underlying security or index in relation to the exercise price of
the option, the volatility of the underlying security or index, and the time remaining until the expiration date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">A
put or call option purchased by the Fund is an asset of the Fund, valued initially at the premium paid for the option. The premium
received for an option written by the Fund is recorded as a deferred credit. The value of an option purchased or written is marked-to-market
daily and is valued at the closing price on the exchange on which it is traded or, if not traded on an exchange or no closing
price is available, at the mean between the last bid and asked prices.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Risks
Associated with Options</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">There
are several risks associated with transactions in options. For example, there are significant differences between the securities
markets, the currency markets and the options markets that could result in an imperfect correlation among these markets, causing
a given transaction not to achieve its objectives. A decision as to whether, when and how to use options involves the exercise
of skill and judgment, and even a well-conceived transaction may be unsuccessful because of market behavior or unexpected events.
The Fund&#8217;s ability to utilize options successfully will depend on Calamos&#8217; ability to predict pertinent market investments,
which cannot be assured.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Fund&#8217;s ability to close out its position as a purchaser or seller (writer) of an OCC or exchange listed put or call option
is dependent, in part, upon the liquidity of the option market. Among the possible reasons for the absence of a liquid option
market on an exchange are: (i) insufficient trading interest in certain options; (ii) restrictions on transactions imposed by
an exchange; (iii) trading halts, suspensions or other restrictions imposed with respect to particular classes or series of options
or underlying securities including reaching daily price limits; (iv) interruption of the normal operations of the OCC or an exchange;
(v) inadequacy of the facilities of an exchange or OCC to handle current trading volume; or (vi) a decision by one or more exchanges
to discontinue the trading of options (or a particular class or series of options), in which event the relevant market for that
option on that exchange would cease to exist, although outstanding options on that exchange would generally continue to be exercisable
in accordance with their terms. If the Fund were unable to close out an option that it has purchased on a security, it would have
to exercise the option in order to realize any profit or the option would expire and become worthless. If the Fund were unable
to close out a covered call option that it had written on a security, it would not be able to sell the underlying security until
the option expired. As the writer of a covered call option on a security, the Fund foregoes, during the option&#8217;s life, the
opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium
and the exercise price of the call. As the writer of a covered call option on a foreign currency, the Fund foregoes, during the
option&#8217;s life, the opportunity to profit from any currency appreciation.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
hours of trading for listed options may not coincide with the hours during which the underlying financial instruments are traded.
To the extent that the option markets close before the markets for the underlying financial instruments, significant price and
rate movements can take place in the underlying markets that cannot be reflected in the option markets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Unless
the parties provide for it, there is no central clearing or guaranty function in an OTC option. As a result, if the Counterparty
(as described above under &#8220;Options on Securities, Indices and Currencies&#8221;) fails to make or take delivery of the security,
currency or other instrument underlying an OTC option it has entered into with the Fund or fails to make a cash settlement payment
due in accordance with the terms of that option, the Fund will lose any premium it paid for the option as well as any anticipated
benefit of the transaction unless the Fund has collected sufficient collateral from the counterparty to cover its exposure. Accordingly,
Calamos must assess the creditworthiness of each such Counterparty or any guarantor or credit enhancement of the Counterparty&#8217;s
credit to determine the likelihood that the terms of the OTC option will be satisfied. The Fund will engage in OTC option transactions
only with U.S. government securities dealers recognized by the Federal Reserve Bank of New York as &#8220;primary dealers&#8221;
or broker/dealers, domestic or foreign banks or other financial institutions which have received (or the guarantors of the obligation
of which have received) a short-term credit rating of &#8220;A-1&#8221; from S&amp;P or &#8220;P-1&#8221; from Moody&#8217;s or
an equivalent rating from any nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) or, in the case of OTC
currency transactions, are determined to be of equivalent credit quality by Calamos.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Fund may purchase and sell (write) call options on securities indices and currencies. All call options sold by the Fund must be
 &#8220;covered.&#8221; Even though the Fund will receive the option premium to help protect it against loss, a call sold by the
Fund exposes the Fund during the term of the option to possible loss of opportunity to realize appreciation in the market price
of the underlying security or instrument and may require the Fund to hold a security or instrument which it might otherwise have
sold. In addition, a loss on a call option sold may be greater than the premium received. The Fund may purchase and sell (write)
put options on securities indices and currencies. In selling (writing) put options, there is a risk that the Fund may be required
to buy the underlying index or currency at a disadvantageous price above the market price. A put option written by the Fund requires
the Fund to segregate cash or liquid assets equal to the exercise price minus any margin the Fund is required to post.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Futures
Contracts and Options on Futures Contracts</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">The
Fund may enter into interest rate futures contracts, index futures contracts, volatility index futures contracts and foreign currency
futures contracts. An interest rate, index, volatility or foreign currency futures contract provides for the future sale by one
party and purchase by another party of a specified quantity of a financial instrument or the cash value of an index at a specified
price and time. A public market exists in futures contracts covering a number of indices (including, but not limited to the Standard
 &amp; Poor&#8217;s 500 Index, the Russell 2000 Index, the Value Line Composite Index, and the New York Stock Exchange (&#8220;NYSE&#8221;)
Composite Index) as well as financial instruments (including, but not limited to U.S. Treasury bonds, U.S. Treasury notes, Eurodollar
certificates of deposit and foreign currencies). Other index and financial instrument futures contracts are available and it is
expected that additional futures contracts will be developed and traded.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may purchase and write call and put futures options. Futures options possess many of the same characteristics as options
on securities, indices and foreign currencies (discussed above). A futures option gives the holder the right, in return for
the premium paid, to assume a long position (call) or short position (put) in a futures contract at a specified exercise
price at any time during the period of the option. Upon exercise of a call option, the holder acquires a long position in the
futures contract and the writer is assigned the opposite short position. In the case of a put option, the opposite is true.
The Fund might, for example, use futures contracts to hedge against or gain exposure to fluctuations in the general level of
stock prices, anticipated changes in interest rates or currency fluctuations that might adversely affect either the value of
the Fund&#8217;s securities or the price of the securities that the Fund intends to purchase. Although other techniques could
be used to reduce or increase the Fund&#8217;s exposure to stock price, interest rate and currency fluctuations, the Fund may
be able to achieve its desired exposure more effectively and perhaps at a lower cost by using futures contracts and futures
options.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund will only enter into futures contracts and futures options that are standardized and traded on an exchange, board of trade
or similar entity, or quoted on an automated quotation system.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
success of any futures transaction by the Fund depends on Calamos correctly predicting changes in the level and direction of stock
prices, interest rates, currency exchange rates and other factors. Should those predictions be incorrect, the Fund&#8217;s return
might have been better had the transaction not been attempted; however, in the absence of the ability to use futures contracts,
Calamos might have taken portfolio actions in anticipation of the same market movements with similar investment results, but,
presumably, at greater transaction costs. When the Fund makes a purchase or sale of a futures contract, the Fund is required to
deposit with its custodian (or broker, if legally permitted) a specified amount of cash or U.S. Government securities or other
securities acceptable to the broker (&#8220;initial margin&#8221;). The margin required for a futures contract is set by the exchange
on which the contract is traded and may be modified during the term of the contract, although the Fund&#8217;s broker may require
margin deposits in excess of the minimum required by the exchange. The initial margin is in the nature of a performance bond or
good faith deposit on the futures contract, which is returned to the Fund upon termination of the contract, assuming all contractual
obligations have been satisfied. The Fund expects to earn interest income on its initial margin deposits. A futures contract held
by the Fund is valued daily at the official settlement price of the exchange on which it is traded. Each day the Fund pays or
receives cash, called &#8220;variation margin,&#8221; equal to the daily change in value of the futures contract. This process
is known as &#8220;marking-to-market.&#8221; Variation margin paid or received by the Fund does not represent a borrowing or loan
by the Fund but is instead settlement between the Fund and the broker of the amount one would owe the other if the futures contract
had expired at the close of the previous day. In computing daily net asset value, the Fund will mark-to-market its open futures
positions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund is also required to deposit and maintain margin with respect to put and call options on futures contracts written by it.
Such margin deposits will vary depending on the nature of the underlying futures contract (and the related initial margin requirements),
the current market value of the option and other futures positions held by the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Although
some futures contracts call for making or taking delivery of the underlying securities, usually these obligations are closed out
prior to delivery by offsetting purchases or sales of matching futures contracts (same exchange, underlying security or index,
and delivery month). If an offsetting purchase price is less than the original sale price, the Fund engaging in the transaction
realizes a capital gain, or if it is more, the Fund realizes a capital loss. Conversely, if an offsetting sale price is more than
the original purchase price, the Fund engaging in the transaction realizes a capital gain, or if it is less, the Fund realizes
a capital loss. The transaction costs must also be included in these calculations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Risks
Associated with Futures</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">There
are several risks associated with the use of futures contracts and futures options. A purchase or sale of a futures contract or
option may result in losses in excess of the amount invested in the futures contract or option. In trying to increase or reduce
market exposure, there can be no guarantee that there will be a correlation between price movements in the futures contract or
option and in the portfolio exposure sought. In addition, there are significant differences between the securities and futures
markets that could result in an imperfect correlation between the markets, causing a given transaction not to achieve its objectives.
The degree of imperfection of correlation depends on circumstances such as: variations in speculative market demand for futures,
futures options and the related securities, including technical influences in futures and futures options trading and differences
between the securities markets and the securities underlying the standard contracts available for trading. For example, in the
case of index futures contracts, the composition of the index, including the issuers and the weighing of each issue, may differ
from the composition of the Fund&#8217;s portfolio, and, in the case of interest rate futures contracts, the interest rate levels,
maturities and creditworthiness of the issues underlying the futures contract may differ from the financial instruments held in
the Fund&#8217;s portfolio. Futures prices are highly volatile at times, and are influenced by many external economic, governmental
and world events. The low margin deposits normally required in futures trading permits an extremely high degree of leverage, which
can result in the Fund experiencing substantial gains or losses due to relatively small price movements or other factors. A decision
as to whether, when and how to use futures contracts involves the exercise of skill and judgment, and even a well-conceived transaction
may be unsuccessful to some degree because of market behavior or unexpected stock price or interest rate trends.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Futures
exchanges may limit the amount of fluctuation permitted in certain futures contract prices during a single trading day. The daily
limit establishes the maximum amount that the price of a futures contract may vary either up or down from the previous day&#8217;s
settlement price at the end of the current trading session. Once the daily limit has been reached in a futures contract subject
to the limit, no more trades may be made on that day at a price beyond that limit. The daily limit governs only price movements
during a particular trading day and therefore does not limit potential losses because the limit may work to prevent the liquidation
of unfavorable positions. For example, futures prices have occasionally moved to the daily limit for several consecutive trading
days with little or no trading, thereby preventing prompt liquidation of positions and subjecting some holders of futures contracts
to substantial losses. Stock index futures contracts are not normally subject to such daily price change limitations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
markets for futures positions may be thinly traded from time to time. In addition, futures positions may become illiquid due to
daily price limits taking effect or due to market disruptions. There can be no assurance that a liquid market will exist at a
time when the Fund seeks to close out a futures or futures option position. The Fund would be exposed to possible loss on the
position during the interval of inability to close, and would continue to be required to meet margin requirements until the position
is closed. In addition, many of the contracts discussed above are relatively new instruments without a significant trading history.
As a result, there can be no assurance that an active secondary market will develop or continue to exist.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Limitations
on Options and Futures</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">If
options, futures contracts or futures options of types other than those described herein are traded in the future, the Fund may
also use those investment vehicles, provided the Board of Trustees determines that their use is consistent with the Fund&#8217;s
investment objective.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">When
purchasing a futures contract or writing a put option on a futures contract, the Fund must maintain with its custodian (or futures
commission merchant (&#8220;FCM&#8221;), if legally permitted) cash or cash equivalents (including any margin) equal to the market
value of such contract. When writing a call option on a futures contract, the Fund similarly will maintain with its custodian
(or FCM) cash or cash equivalents (including any margin) equal to the amount by which such option is in-the-money until the option
expires or is closed by the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund may not maintain open short positions in futures contracts, call options written on futures contracts or call options written
on indices if, in the aggregate, the market value of all such open positions exceeds the current value of the securities in its
portfolio, plus or minus unrealized gains and losses on the open positions, adjusted for the historical relative volatility of
the relationship between the portfolio and the positions. For this purpose, to the extent the Fund has written call options on
specific securities in its portfolio, the value of those securities will be deducted from the current market value of the securities
portfolio.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
use of options and futures contracts is subject to applicable regulations of the SEC, the several exchanges upon which they are
traded and the U.S. Commodity Futures Trading Commission (the &#8220;CFTC&#8221;). <FONT STYLE="background-color: white">For example,
the CFTC and domestic futures exchanges have established (and continue to evaluate and monitor) speculative position limits (&#8220;position
limits&#8221;) on the maximum </FONT>speculative position which any person, or group of persons acting in concert, may hold or
control in particular contracts. In addition, starting January 1, 2023 federal position limits will apply to swaps that are economically
equivalent to futures contracts that are subject to CFTC set speculative limits. All positions owned or controlled by the same
person or entity, even if in different accounts, must be aggregated for purposes of complying with speculative limits. Thus, even
if the Fund does not intend to exceed applicable position limits, it is possible that different clients managed by the Adviser
and its affiliates may be aggregated for this purpose. Therefore, the trading decisions of the Adviser may have to be modified
and positions held by the Fund liquidated in order to avoid exceeding such limits. The modification of investment decisions or
the elimination of open positions, if it occurs, may adversely affect the profitability of the Fund. A violation of position limits
could also lead to regulatory action materially adverse to the Fund&#8217;s investment strategy.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Pursuant
to CFTC Regulation 4.5, Calamos, the Fund&#8217;s investment adviser, is excluded from the definition of commodity pool operator
(&#8220;CPO&#8221;) under the Commodity Exchange Act (&#8220;CEA&#8221;) and is not subject to registration or regulation as such
under the CEA. The terms of the exclusion require the Fund, among other things, to adhere to certain limits on its investments
in &#8220;commodity interests.&#8221; Pursuant to the exemption, if the Fund uses commodity interests (such as futures contracts,
options on futures contracts and most swaps) the aggregate initial margin and premiums required to establish these positions (after
taking into account unrealized profits and unrealized losses on any such positions and excluding the amount by which options that
are &#8220;in-the-money&#8221;<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1 </SUP></FONT>at the time of purchase)
may not exceed 5% of the Fund&#8217;s NAV, or alternatively, the aggregate net notional value of those positions, as determined
at the time the most recent position was established, may not exceed 100% of the Fund&#8217;s NAV (after taking into account unrealized
profits and unrealized losses on any such positions). If, in the future, the Fund can no longer satisfy these requirements, Calamos
would withdraw its exclusion from the definition of CPO, and Calamos would be subject to registration and regulation as a CPO
with respect to the Fund, in accordance with CFTC rules that apply to CPOs of registered investment companies.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">In
addition, the Fund&#8217;s ability to use options and futures contracts may be limited by tax considerations. See &#8220;Certain
Federal Income Tax Matters&#8221; below.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Warrants</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest in warrants. A warrant is a right to purchase common stock at a specific price (usually at a premium above the
market value of the underlying common stock at time of issuance) during a specified period of time. A warrant may have a life
ranging from less than a year to twenty years or longer, but a warrant becomes worthless unless it is exercised or sold before
expiration. In addition, if the market price of the common stock does not exceed the warrant&#8217;s exercise price during the
life of the warrant, the warrant will expire worthless. Warrants have no voting rights, pay no dividends and have no rights with
respect to the assets of the corporation issuing them. The percentage increase or decrease in the value of a warrant may be greater
than the percentage increase or decrease in the value of the underlying common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Portfolio
Turnover</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Although
the Fund does not purchase securities with a view to rapid turnover, there are no limitations on the length of time that a
portfolio security must be held. Portfolio turnover can occur for a number of reasons, including calls for redemption,
general conditions in the securities markets, more favorable investment opportunities in other securities, or other factors
relating to the desirability of holding or changing a portfolio investment. The portfolio turnover rates may vary greatly
from year to year. A high rate of portfolio turnover in the Fund would result in increased transaction expense, which must be
borne by the Fund. High portfolio turnover may also result in the realization of capital gains or losses and, to the extent
net short-term capital gains are realized, any distributions resulting from such gains will be taxed at ordinary income tax
rates for U.S. federal income tax purposes.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1
</SUP></FONT> <FONT STYLE="font-size: 10pt">A call option is &#8220;in-the-money&#8221; to the extent, if any, that the
value of the futures contract that is the subject of the option exceeds the exercise price. A put option is &#8220;in-the-money&#8221;
if the exercise price exceeds the value of the futures contract that is the subject of the option</FONT> </P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Short
Sales</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">A
short sale may be effected when Calamos believes that the price of a security will decline or underperform the market, and involves
the sale of borrowed securities, in the hope of purchasing the same securities at a later date at a lower price. There can be
no assurance that the Fund will be able to close out a short position (i.e., purchase the same securities) at any particular time
or at an acceptable or advantageous price. To make delivery to the buyer, the Fund must borrow the securities from a broker-dealer
through which the short sale is executed, and the broker-dealer delivers the securities, on behalf of the Fund, to the buyer.
The broker- dealer may be entitled to retain the proceeds from the short sale until the Fund delivers to it the securities sold
short or the Fund may receive and invest the proceeds. In addition, the Fund is required to pay to the broker- dealer the amount
of any dividends or interest paid on the securities sold short.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">To
secure its obligation to deliver to the broker-dealer the securities sold short, the Fund must segregate an amount of cash or
liquid securities that are marked to market daily with its custodian equal to any excess of the current market value of the securities
sold short over any cash or liquid securities deposited as collateral with the broker in connection with the short sale (not including
the proceeds of the short sale). As a result of that requirement, the Fund will not gain any leverage merely by selling short,
except to the extent that it earns interest or other income or gains on the segregated cash or liquid securities while also being
subject to the possibility of gain or loss from the securities sold short.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund is said to have a short position in the securities sold until it delivers to the broker-dealer the securities sold. The Fund
will normally close out a short position by purchasing on the open market and delivering to the broker-dealer an equal amount
of the securities sold short.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund will realize a gain if the price of the securities declines between the date of the short sale and the date on which the
Fund purchases securities to replace the borrowed securities. On the other hand, the Fund will incur a loss if the price of the
securities increases between those dates. The amount of any gain will be decreased and the amount of any loss increased by any
premium or interest that the Fund may be required to pay in connection with the short sale. It should be noted that possible losses
from short sales differ from those that could arise from a cash investment in a security in that losses from a short sale may
be limitless, while the losses from a cash investment in a security cannot exceed the total amount of the investment in the security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">There
is also a risk that securities borrowed by the Fund and delivered to the buyer of the securities sold short will need to be returned
to the broker-dealer on short notice. If the request for the return of securities occurs at a time when other short sellers of
the security are receiving similar requests, a &#8220;short squeeze&#8221; can occur, meaning that the Fund might be compelled,
at the most disadvantageous time, to replace the borrowed securities with securities purchased on the open market, possibly at
prices significantly in excess of the proceeds received from the short sale.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">It
is possible that the market value of the securities the Fund holds in long positions will decline at the same time that the market
value of the securities the Fund has sold short increases, thereby increasing the Fund&#8217;s potential volatility.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Rule
10a-1 under the Securities Exchange Act of 1934, as amended (&#8220;Exchange Act&#8221;) provides that exchange-traded
securities can be sold short only at a price that is higher than the last trade or the same as the last trade price if that
price is higher than the price of the previous reported trade. The requirements of Rule 10a-1 can delay, or in some cases
prevent, execution of short sales, resulting in opportunity costs and increased exposure to market action.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may also make short sales &#8220;against the box,&#8221; meaning that at all times when a short position is open the Fund
owns an equal amount of such securities or securities convertible into or exchangeable, without payment of further consideration,
for securities of the same issue as, and in an amount equal to, the securities sold short. Short sales &#8220;against the box&#8221;
result in a &#8220;constructive sale&#8221; and require the Fund to recognize any taxable gain unless an exception to the constructive
sale rule applies. The Fund will not make a short sale of securities (other than a short sale &#8220;against the box&#8221;),
if more than 20% of its net assets would be deposited with brokers as collateral or allocated to segregated accounts in connection
with all outstanding short sales (other than short sales &#8220;against the box&#8221;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">Short
sales also may afford the Fund an opportunity to earn additional current income to the extent it is able to enter into arrangements
with broker-dealers through which the short sales are executed to receive income with respect to the proceeds of the short sales
during the period the Fund&#8217;s short positions remain open. Calamos believes that some broker-dealers may be willing to enter
into such arrangements, but there is no assurance that the Fund will be able to enter into such arrangements to the desired degree.
Further, the SEC and regulatory authorities in other jurisdictions may adopt (and in certain cases, have adopted) bans on short
sales of certain securities in response to market events.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Swaps,
Caps, Floors and Collars</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may enter into interest rate, currency, index, credit default and other swaps and the purchase or sale of related caps, floors
and collars. The Fund expects to enter into these transactions primarily as a hedge to preserve a return or spread on a particular
investment or portion of its portfolio, to protect against currency fluctuations, as a duration management technique or to protect
against any increase in the price of securities the Fund anticipates purchasing at a later date. The Fund will not sell interest
rate caps or floors where it does not own securities or other instruments providing the income stream the Fund may be obligated
to pay. Interest rate swaps involve the exchange by the Fund with another party of their respective commitments to pay or receive
interest, e.g., an exchange of floating rate payments for fixed rate payments with respect to a notional amount of principal.
A currency swap is an agreement to exchange cash flows on a notional amount of two or more currencies based on the relative value
differential among them and an index swap is an agreement to swap cash flows on a notional amount based on changes in the values
of the reference indices. A credit default swap is an agreement to transfer the credit exposure of fixed income products between
parties. The purchase of a cap entitles the purchaser to receive payments on a notional principal amount from the party selling
such cap to the extent that a specified index exceeds a predetermined interest rate or amount. The purchase of a floor entitles
the purchaser to receive payments on a notional principal amount from the party selling such floor to the extent that a specified
index falls below a predetermined interest rate or amount. A collar is a combination of a cap and a floor that preserves a certain
return within a predetermined range of interest rates or values for the purchases.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund will usually enter into swaps or caps on a net basis; that is, the two payment streams will be netted out in a cash settlement
on the payment date or dates specified in the instrument, with the Fund receiving or paying, as the case may be, only the net
amount of the two payments. The Fund intends to maintain in a segregated account with its custodian cash or liquid securities
having a value at least equal to the Fund&#8217;s net payment obligations under any swap transaction, marked-to-market daily.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
use of swaps and caps is a highly specialized activity that involves investment techniques and risks different from those
associated with ordinary portfolio security transactions. The Fund&#8217;s use of swaps or caps could enhance or harm the
overall performance on the common shares. To the extent there is a decline in interest rates, the value of the interest rate
swap or cap could decline, and could result in a decline in the net asset value of the common shares. In addition, if
short-term interest rates are lower than the Fund&#8217;s fixed rate of payment on the interest rate swap, the swap will
reduce common share net earnings. If, on the other hand, short-term interest rates are higher than the fixed rate of payment
on the interest rate swap, the swap will enhance common share net earnings. Buying caps could enhance the performance of the
common shares by limiting certain leverage expenses. Buying caps could also decrease the net earnings of the common shares in
the event that the premium paid by the Fund to the counterparty exceeds the additional amount the Fund would have been
required to pay had it not entered into the cap agreement. The Fund has no current intention of selling swaps or
caps.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Swaps
and caps do not involve the delivery of securities or other underlying assets or principal. Accordingly, the risk of loss with
respect to swaps is limited to the net amount of payments that the Fund is contractually obligated to make. If the counterparty
defaults, the Fund would not be able to use the anticipated net receipts under the swap or cap to offset the payments on the Fund&#8217;s
leverage or offset certain losses in the portfolio. Depending on whether the Fund would be entitled to receive net payments from
the counterparty on the swap or cap, such a default could negatively impact the performance of the common shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Although
this will not guarantee the counterparty does not default, the Fund will not enter into any swap, cap, floor or collar transaction
unless, at the time of entering into such transaction, the Fund believes that the counterparty has the financial resources to
honor its obligation under the transaction. Further, Calamos will continually monitor the financial stability of a counterparty
to a swap or cap transaction in an effort to proactively protect the Fund&#8217;s investments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
addition, at the time the swap or cap transaction reaches its scheduled termination date, there is a risk that the Fund would
not be able to obtain a replacement transaction or that the terms of the replacement would not be as favorable as on the expiring
transaction. If this occurs, it could have a negative impact on the performance of the Fund&#8217;s common shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the Fund were to issue preferred shares, the Fund may choose or be required to redeem some or all of the preferred shares or prepay
any borrowings. Such redemption or prepayment would likely result in the Fund seeking to terminate early all or a portion of any
swap or cap transaction. Such early termination of a swap could result in termination payment by or to the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
swap market has grown substantially in recent years with a large number of banks and investment banking firms acting both as principals
and as agents utilizing standardized swap documentation. As a result, the swap market has become relatively liquid, however, some
swaps may be considered illiquid. Caps, floors and collars are more recent innovations for which standardized documentation has
not yet been fully developed and, accordingly, they are less liquid than certain other swaps.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
addition, certain categories of interest rate and credit default swaps are, and more in the future will be, centrally cleared.
Swaps that are centrally-cleared are subject to the creditworthiness of the clearing organizations involved in the transaction.
For example, a swap investment by the Fund could lose margin payments deposited with the clearing organization, as well as the
net amount of gains not yet paid by the clearing organization, if the clearing organization breaches the swap agreement with the
Fund or becomes insolvent or goes into bankruptcy. Also, the Fund will be exposed to the credit risk of the FCM who acts as the
Fund&#8217;s clearing member on the clearinghouse for a centrally cleared swap. If the Fund&#8217;s FCM becomes bankrupt or insolvent,
or otherwise defaults on its obligations to the Fund, the Fund may not receive all amounts owed to it in respect of its trading,
even if the clearinghouse fully discharges all of its obligations. In the event of bankruptcy of the Fund&#8217;s FCM, the Fund
may be entitled to the net amount of gains the Fund is entitled to receive, plus the return of margin owed to it, only in proportion
to the amount received by the FCM&#8217;s other customers, potentially resulting in losses to the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt"><B>Risks
Associated with Cleared Derivatives</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
CFTC requires that certain interest rate swaps and index credit default swaps be cleared through a central counterparty (&#8220;CCP&#8221;)
(unless an exception or exemption applies), and the CFTC may expand the types of swaps (e.g., certain foreign currency and commodity
swaps) subject to mandatory clearing. While the SEC has adopted rules establishing a framework for determining which security-based
swaps will be subject to mandatory clearing, no such clearing determination has been issued.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Where
the Fund enters into swaps subject to mandatory clearing, it may be required to clear such swaps at a CCP through a FCM acting
as clearing broker. The Fund will have to post initial margins to CCPs through FCMs or broker-dealers (in the U.S.) or other clearing
brokers (outside the U.S.), and for swaps cleared at CCPs that are U.S.-registered derivatives clearing organizations, such initial
margins will be held by such CCP and FCMs in segregated accounts under the CFTC rules. Such segregation is intended to protect
the initial margins of swap clearing customers from the claims of other creditors of a CCP or FCM. Furthermore, the CFTC rules
implement&nbsp;the&nbsp;so-called&nbsp;&#8220;legally segregated, operationally commingled&#8221; model for the segregation of
swap clearing customer collateral on&nbsp;a&nbsp;customer-by-customer&nbsp;basis,&nbsp;which is intended to protect each customer
from the default of other customers of the FCM. Such segregation, however, will not protect clearing customers like the Fund from
any operational or fraud risk of a CCP or FCM with respect to the initial margin posted to the CCP or FCM. In addition, the initial
margins posted to a&nbsp;non-US&nbsp;CCP&nbsp;through a&nbsp;non-US&nbsp;clearing broker may not even be segregated from the property
of such CCP and/or clearing broker. The SEC has no final rules for the treatment and protection of customer property, including
initial margins, held by CCPs and broker-dealers.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">In
addition, where the Fund enters into certain swaps subject to mandatory clearing, it may be required to execute such swaps on
a registered designated contract market or swap execution facility (&#8220;SEF&#8221;). The CFTC requires that certain interest
rate swaps and index credit default swaps be executed on a registered designated contract market or SEF, and registered designated
contract markets or SEFs may self-certify additional types of interest rate and index credit default swaps as subject to this
requirement. The SEC not yet adopted registration rules for security-based registered designated contract markets or SEFs or a
mandatory trade execution requirement for security-based swaps. In addition, certain foreign jurisdictions may impose clearing
and trade execution requirements that could apply to the Fund&#8217;s transactions&nbsp;with&nbsp;non-U.S.&nbsp;entities.&nbsp;While
the Fund may benefit from reduced counterparty credit and operations risk and pricing transparency resulting from these requirements,
it will incur additional costs in trading these swaps. In addition, while the Fund will attempt to execute, clear and settle these
swaps through entities Calamos believes to be sound, there can be no assurance that a failure by such an entity will not cause
a loss to the Fund.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt"><B>Risks
Associated with Uncleared Derivatives</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Where
the Fund enters into derivatives contracts that are not centrally cleared through a CCP, the Fund will become subject to the risk
that a counterparty will not perform its obligations under such contracts, either because of a dispute over the terms of the contract
(whether or not bona fide) or because of a credit or liquidity problem of the counterparty, thus causing the Fund to suffer a
loss. Such Where the Fund enters into derivatives contracts that are not centrally cleared through a CCP, the Fund will become
subject to the risk that a counterparty will not perform its obligations under such contracts, either because of a dispute over
the terms of the contract (whether or not bona fide) or because of a credit or liquidity problem of the counterparty, thus causing
the Fund to suffer a loss. Such counterparty risk may be accentuated by the fact that the Fund may concentrate its transactions
with a single or small group of counterparties. In addition, in the case of a default, the Fund could become subject to adverse
market movements while seeking replacement transactions. The Fund is not restricted from dealing with any particular counterparty
or from concentrating any or all of its transactions with one counterparty. Certain of the swap counterparties may be entities
that are rated by recognized rating agencies. The Fund&#8217;s ability to transact business with any one or number of counterparties,
the possible lack of a meaningful and independent evaluation of such counterparties&#8217; financial capabilities, and the absence
of a regulated market to facilitate settlement may increase the potential for losses by the Fund.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
U.S. prudential regulators and the CFTC have adopted margin requirements for non-cleared swaps which apply to entities subject
to the jurisdiction of the prudential regulators and entities registered as swap dealers with the CFTC, respectively (in each
case, with respect to all non-cleared swaps entered into on or after March 1, 2017). While the Fund will not be directly subject
to these margin requirements, the Fund will be indirectly impacted by the margin requirements where its counterparty is subject
to such requirement. The Fund is required to exchange variation margin (in the form of cash, certain highly liquid securities
or gold) with its counterparties that are subject to the margin requirement (and, if contractually agreed, with any other counterparty)
to cover the cumulative daily mark-to-market change in value of the transaction since the last exchange of variation margin. The
amount of margin that must be posted and collected pursuant to these regulatory requirements may be determined on a net basis
(taking into account offsetting exposures) with respect to a portfolio of uncleared swaps and/or security-based swaps that are
governed by a master netting agreement that satisfies certain criteria. Mandatory initial margin requirements are also scheduled
to become effective, but such requirements apply only to swap dealers when trading with financial end users with &#8220;material
swaps exposure.&#8221; Given the anticipated volume of the Fund&#8217;s swap transactions, the Fund is not likely to have &#8220;material
swaps exposure&#8221; for purposes of these margin rules, and therefore does not expect to be subject to these initial margin
requirements. In addition, the U.S. prudential regulators&#8217; margin rules apply to non-cleared security-based swaps entered
into by security-based swap dealers that are subject to their jurisdiction, and the SEC has proposed but not yet adopted final
margin rules for security-based swap dealers that are not subject to the jurisdiction of prudential regulators.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">To
the extent that the Fund&#8217;s swap dealer counterparty collects margin from the Fund on its uncleared swaps and security-based
swaps, such margin is held in an account at the Fund&#8217;s custodian in which the swap dealer has a security interest. The custodian
may fail to segregate such assets or collateral properly. In either case, in the event of the bankruptcy or insolvency of any
custodian or counterparty, the Fund&#8217;s assets and collateral may be subject to the conflicting claims of the creditors of
the relevant custodian or counterparty, and the Fund may be exposed to the risk of a court treating the Fund as a general unsecured
creditor of such custodian or counterparty, rather than as the owner of such assets or collateral.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">In
addition, uncleared OTC derivative instruments can generally be closed out only by negotiation with the counterparty, which may
expose the Fund to liquidity risk. There can be no assurance that a liquid secondary market will exist for any particular derivative
instrument at any particular time, including for those derivative instruments that were originally categorized as liquid at the
time they were acquired by the Fund. In volatile markets, the Fund may not be able to close out a position without incurring a
significant amount of loss. In addition, the Fund may not be able to convince its counterparty to consent to an early termination
of an OTC derivative contract or may not be able to enter into an offsetting transaction to effectively unwind the transaction.
Such OTC derivative contracts generally are not assignable except by agreement between the parties, and a counterparty typically
has no obligation to permit assignments. Even if the Fund&#8217;s counterparty agrees to early termination of OTC derivatives
at any time, doing so may subject the Fund to certain early termination charges.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;When
Issued&#8221; and Delayed Delivery Securities and Reverse Repurchase Agreements</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may purchase securities on a when issued or delayed delivery basis. Although the payment and interest terms of these securities
are established at the time the Fund enters into the commitment, the securities may be delivered and paid for a month or more
after the date of purchase, when their value may have changed. The Fund makes such commitments only with the intention of actually
acquiring the securities, but may sell the securities before settlement date if Calamos deems it advisable for investment reasons.
The Fund may utilize spot and forward foreign currency exchange transactions to reduce the risk inherent in fluctuations in the
exchange rate between one currency and another when securities are purchased or sold on a when issued or delayed delivery basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may enter into reverse repurchase agreements with banks and securities dealers. A reverse repurchase agreement is a
repurchase agreement in which the Fund is the seller of, rather than the investor in, securities and agrees to repurchase
them at an agreed upon time and price. Use of a reverse repurchase agreement may be preferable to a regular sale and later
repurchase of securities because it avoids certain market risks and transaction costs. Reverse repurchase agreements involve
the risk that the market value of securities and/or other instruments purchased by the Fund with the proceeds received by the
Fund in connection with such reverse repurchase agreements may decline below the market value of the securities the Fund is
obligated to repurchase under such reverse repurchase agreements. They also involve the risk that the counterparty liquidates
the securities delivered to it by the Fund under the reverse repurchase agreement following the occurrence of an event of
default under the applicable master repurchase agreement by the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">At
the time when the Fund enters into a binding obligation to purchase securities on a when-issued basis or enters into a reverse
repurchase agreement, liquid securities (cash, U.S. Government securities or other &#8220;high grade&#8221; debt obligations)
of the Fund having a value at least as great as the purchase price of the securities to be purchased will be segregated on the
books of the Fund and held by the custodian throughout the period of the obligation. The use of these investment strategies may
increase net asset value fluctuation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Illiquid
Securities</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest without limit in securities that, at the time of investment, are illiquid (i.e., any investment that the Fund
reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale
or disposition significantly changing the market value of the investment). Illiquid securities may be difficult to dispose of
at a fair price at the times when the Fund believes it is desirable to do so. The market price of illiquid securities generally
is more volatile than that of more liquid securities, which may adversely affect the price that the Fund pays for or recovers
upon the sale of illiquid securities. Illiquid securities are also more difficult to value and Calamos&#8217; judgment may play
a greater role in the valuation process. Investment of the Fund&#8217;s assets in illiquid securities may restrict the Fund&#8217;s
ability to take advantage of market opportunities. The risks associated with illiquid securities may be particularly acute in
situations in which the Fund&#8217;s operations require cash and could result in the Fund borrowing to meet its short-term needs
or incurring losses on the sale of illiquid securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest in bonds, corporate loans, convertible securities, preferred stocks and other securities that lack a secondary
trading market or are otherwise considered illiquid. Liquidity of a security relates to the ability to easily dispose of the security
and the price to be obtained upon disposition of the security, which may be less than would be obtained for a comparable more
liquid security. Such investments may affect the Fund&#8217;s ability to realize the net asset value in the event of a voluntary
or involuntary liquidation of its assets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Temporary
Defensive Investments</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may make temporary investments without limitation when Calamos determines that a defensive position is warranted. Such investments
may be in money market instruments, consisting of obligations of, or guaranteed as to principal and interest by, the U.S. Government
or its agencies or instrumentalities; certificates of deposit, bankers&#8217; acceptances and other obligations of domestic banks
having total assets of at least $500 million and that are regulated by the U.S. Government, its agencies or instrumentalities;
commercial paper rated in the highest category by a recognized rating agency; cash; and repurchase agreements. If the Fund temporarily
uses a different investment strategy for defensive purposes, different factors could affect the Fund&#8217;s performance, and
the Fund may not achieve its investment objective.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Repurchase
Agreements</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">As
part of its strategy for the temporary investment of cash, the Fund may enter into &#8220;repurchase agreements&#8221; with
member banks of the Federal Reserve System or primary dealers (as designated by the Federal Reserve Bank of New York) in such
securities. A repurchase agreement arises when the Fund purchases a security and simultaneously agrees to resell it to the
vendor at an agreed upon future date. The resale price is greater than the purchase price, reflecting an agreed upon market
rate of return that is effective for the period of time the Fund holds the security and that is not related to the coupon
rate on the purchased security. Such agreements generally have maturities of no more than seven days and could be used to
permit the Fund to earn interest on assets awaiting long-term investment. The Fund requires continuous maintenance by the
custodian for the Fund&#8217;s account in the Federal Reserve/Treasury Book Entry System of collateral in an amount equal to,
or in excess of, the market value of the securities that are the subject of a repurchase agreement. Repurchase agreements
maturing in more than seven days are considered illiquid securities. In the event of a bankruptcy or other default of a
seller of a repurchase agreement, the Fund could experience both delays in liquidating the underlying security and losses,
including: (a) possible decline in the value of the underlying security during the period while the Fund seeks to enforce its
rights thereto; (b) possible subnormal levels of income and lack of access to income during this period; and (c) expenses of
enforcing its rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Preferred
Shares</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest in preferred shares. The preferred shares that the Fund will invest in will typically be convertible securities.
Preferred shares are equity securities, but they have many characteristics of fixed income securities, such as a fixed dividend
payment rate and/or a liquidity preference over the issuer&#8217;s common shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Real
Estate Investment Trusts (&#8220;REITs&#8221;) and Associated Risk Factors</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">REITs
are pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interests.
REITs are generally classified as equity REITs, mortgage REITs or a combination of equity and mortgage REITs. Equity REITs invest
the majority of their assets directly in real property and derive income primarily from the collection of rents. Equity REITs
can also realize capital gains by selling properties that have appreciated in value. Mortgage REITs invest the majority of their
assets in real estate mortgages and derive income from the collection of interest payments. REITs are not taxed on income and
gains distributed to shareholders provided they comply with the applicable requirements of the Internal Revenue Code of 1986,
as amended (the &#8220;Code&#8221;). The Fund will indirectly bear its proportionate share of any management and other expenses
paid by REITs in which it invests in addition to the expenses paid by the Fund. Debt securities issued by REITs are, for the most
part, general and unsecured obligations and are subject to risks associated with REITs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Investing
in REITs involves certain unique risks in addition to those risks associated with investing in the real estate industry in general.
An equity REIT may be affected by changes in the value of the underlying properties owned by the REIT. A mortgage REIT may be
affected by changes in interest rates and the ability of the issuers of its portfolio mortgages to repay their obligations. REITs
are dependent upon the skills of their managers and are not diversified. REITs are generally dependent upon maintaining cash flows
to repay borrowings and to make distributions to shareholders and are subject to the risk of default by lessees or borrowers.
REITs whose underlying assets are concentrated in properties used by a particular industry, such as health care, are also subject
to risks associated with such industry.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">REITs
(especially mortgage REITs) are also subject to interest rate risks. When interest rates decline, the value of a REIT&#8217;s
investment in fixed rate obligations can be expected to rise. Conversely, when interest rates rise, the value of a REIT&#8217;s
investment in fixed rate obligations can be expected to decline. If the REIT invests in adjustable rate mortgage loans the interest
rates on which are reset periodically, yields on a REIT&#8217;s investments in such loans will gradually align themselves to reflect
changes in market interest rates. This causes the value of such investments to fluctuate less dramatically in response to interest
rate fluctuations than would investments in fixed rate obligations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">REITs
may have limited financial resources, may utilize significant amounts of leverage, may trade less frequently and in a limited
volume and may be subject to more abrupt or erratic price movements than larger company securities. Historically REITs have been
more volatile in price than the larger capitalization stocks included in Standard &amp; Poor&#8217;s 500 Stock Index.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Other
Investment Companies (including ETFs)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may invest in the securities of other investment companies, including ETFs, to the extent that such investments are
consistent with the Fund&#8217;s investment objective and policies and permissible under the 1940 Act. Under the 1940 Act,
the Fund generally may not acquire the securities of other domestic or non-U.S. investment companies if, as a result, (i)
more than 10% of the Fund&#8217;s total assets would be invested in securities of other investment companies, (ii) such
purchase would result in more than 3% of the total outstanding voting securities of any one investment company being held by
the Fund, (iii) more than 5% of the Fund&#8217;s total assets would be invested in any one investment company, or (iv) such
purchase would result in more than 10% of the total outstanding voting securities of a registered closed-end investment
company being held by the Fund and other investment companies advised by Calamos. These limitations do not apply to the
purchase of shares of money market funds or any investment company in connection with a merger, consolidation, reorganization
or acquisition of substantially all the assets of another investment company, or to purchases of investment companies made in
accordance with SEC exemptive relief or rule.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund, as a holder of the securities of other investment companies, will bear its pro rata portion of the other investment companies&#8217;
expenses, including advisory fees. These expenses are in addition to the direct expenses of the Fund&#8217;s own operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Dodd-Frank
Act and Other Derivatives Regulations</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
financial crisis in both the U.S. and global economies over the past several years, including the European sovereign debt crisis,
has resulted, and may continue to result, in an unusually high degree of volatility in the financial markets and the economy at
large. Both domestic and international equity and fixed income markets have been experiencing heightened volatility and turmoil,
with issuers that have exposure to the real estate, mortgage and credit markets particularly affected. It is uncertain how long
these conditions will continue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
addition to the recent unprecedented turbulence in financial markets, the reduced liquidity in credit and fixed income markets
may negatively affect many issuers worldwide. Reduced liquidity in these markets may mean there is less money available to purchase
raw materials, goods and services, which may, in turn, bring down the prices of these economic staples. It may also result in
some issuers having more difficulty obtaining financing and ultimately may lead to a decline in their stock prices. The values
of some sovereign debt and of securities of issuers that hold that sovereign debt have fallen. These events, and the potential
for continuing market turbulence, may have an adverse effect on the Fund. In addition, global economies and financial markets
are becoming increasingly interconnected, which increases the possibilities that conditions in one country or region might adversely
impact issuers in a different country or region.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Continuing
uncertainty as to the status of the Euro and the European Monetary Union (&#8220;EMU&#8221;) and the potential for certain countries
to withdraw from the institution has created significant volatility in currency and financial markets generally. Any partial or
complete dissolution of the EMU could have significant adverse effects on currency and financial markets, and on the values of
the Fund&#8217;s portfolio investments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
U.S. federal government and certain foreign central banks have acted to calm credit markets and increase confidence in the U.S.
and world economies. Certain of these entities have injected liquidity into the markets and taken other steps in an effort to
stabilize the markets and grow the economy. The ultimate effect of these efforts is, of course, not yet known. Changes in government
policies may exacerbate the market&#8217;s difficulties and the withdrawal of this support, or other policy changes by governments
or central banks, could negatively affect the value and liquidity of certain securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
situation in the financial markets has led to calls for increased regulation, and the need of many financial institutions for
government help has given lawmakers and regulators new leverage. The Dodd-Frank Act initiated a dramatic revision of the U.S.
financial regulatory framework that is expected to continue to unfold over several years. The Dodd-Frank Act covers a broad range
of topics, including (among many others) a reorganization of federal financial regulators; a process intended to improve financial
systemic stability and the resolution of potentially insolvent financial firms; new rules for derivatives trading; the creation
of the Consumer Financial Protection Bureau; the registration and additional regulation of hedge and private equity fund managers;
and new federal requirements for residential mortgage loans. Instruments in which the Fund may invest, or the issuers of such
instruments, may be affected by the new legislation and regulation in ways that may be unforeseeable. Because these requirements
are relatively new and evolving (and some of the rules are not yet final), their ultimate impact remains unclear.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
statutory provisions of the Dodd-Frank Act significantly change in several respects the ways in which investment products are
marketed, sold, settled or terminated. In particular, the Dodd-Frank Act mandates the elimination of references to credit ratings
in numerous securities laws, including the 1940 Act. Transactions in some types of swaps (including interest rate swaps and credit
default index swaps on North American and European indices) are required to be centrally cleared. Clearinghouses and futures commission
merchants have broad rights to increase margin requirements for existing cleared transactions or to terminate cleared transactions
at any time. Any increase in margin requirements or termination by the clearing member or the clearinghouse may have an effect
on the performance of the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">Under
rules adopted under the Dodd-Frank Act, certain cleared derivatives contracts are required to be executed through swap execution facilities
(&#8220;SEFs&#8221;). A SEF is a trading platform where multiple market participants can execute derivatives by accepting bids
and offers made by multiple other participants in the platform. Such requirements may make it more difficult and costly for investment
funds, such as the Fund, to enter into highly tailored or customized transactions. Trading swaps on a SEF may offer certain advantages
over traditional bilateral over-the-counter trading, such as ease of execution, price transparency, increased liquidity and/or
favorable pricing. Execution through a SEF is not, however, without additional costs and risks, as parties are required to comply
with SEF and CFTC rules and regulations, including disclosure and recordkeeping obligations, and SEF rights of inspection, among
others. SEFs typically charge fees, and if the Fund executes derivatives on a SEF through a broker intermediary, the intermediary
may impose fees as well. The Fund also may be required to indemnify a SEF, or a broker intermediary who executes swaps on a SEF
on the Fund&#8217;s behalf, against any losses or costs that may be incurred as a result of the Fund&#8217;s transactions on the
SEF. In addition, the Fund may be subject to execution risk if it enters into a derivatives transaction that is required to be
cleared, and no clearing member is willing to clear the transaction on the Fund&#8217;s behalf. In that case, the transaction
might have to be terminated, and the Fund could lose some or all of the benefit of any increase in the value of the transaction
after the time of the trade.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
European Union (and some other countries) are implementing similar requirements that will affect the Fund when it enters into
derivatives transactions with a counterparty organized in that country or otherwise subject to that country&#8217;s derivatives
regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
new requirements may result in increased uncertainty about counterparty credit risk, and they may also limit the flexibility of
the Fund to protect its interests in the event of an insolvency of a derivatives counterparty. In the event of a counterparty&#8217;s
(or its affiliate&#8217;s) insolvency, the Fund&#8217;s ability to exercise remedies, such as the termination of transactions,
netting of obligations and realization on collateral, could be stayed or eliminated under new special resolution regimes adopted
in the United States, the European Union and various other jurisdictions. Such regimes provide government authorities with broad
authority to intervene when a financial institution is experiencing financial difficulty. In particular, with respect to counterparties
who are subject to such proceedings in the European Union, the liabilities of such counterparties to the Fund could be reduced,
eliminated, or converted to equity in such counterparties (sometimes referred to as a &#8220;bail in&#8221;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Additionally,
U.S. regulators, the European Union and certain other jurisdictions have adopted minimum margin and capital requirements for uncleared
derivatives transactions. It is expected that these regulations will have a material impact on the Fund&#8217;s use of uncleared
derivatives. These rules will impose minimum margin requirements on derivatives transactions between the Fund and its swap counterparties
and may increase the amount of margin the Fund is required to provide. They will impose regulatory requirements on the timing
of transferring margin. The Fund is subject to variation margin requirements under such rules and the Fund may become subject
to initial margin requirements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
CFTC and U.S. futures exchanges have established limits, referred to as &#8220;position limits,&#8221; on the maximum net long
or net short positions which any person may own or control in certain futures and options contracts. In addition, starting January
1, 2023 federal position limits will apply to swaps that are economically equivalent to futures contracts that are subject to
CFTC set speculative limits. All positions owned or controlled by the same person or entity, even if in different accounts, must
be aggregated for purposes of determining whether the applicable position limits have been exceeded. Thus, even if the Fund does
not intend to exceed applicable position limits, it is possible that different clients managed by the Adviser may be aggregated
for this purpose. Any modifications of trading decisions or elimination of open positions that may be required to avoid exceeding
such limits may adversely affect the performance of the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">In
October 2020, the SEC adopted Rule 18f-4 under the 1940 Act, which, once effective, will apply to the Fund&#8217;s use of derivative
investments and certain financing transactions (e.g., reverse repurchase agreements). Among other things, Rule 18f-4 will require
funds that invest in derivative instruments beyond a specified limited amount to apply a value-at-risk based limit to their use
of certain derivative instruments and financing transactions and to adopt and implement a derivatives risk management program.
A fund that uses derivative instruments (beyond certain currency and interest rate hedging transactions) in a limited amount will
not be subject to the full requirements of Rule 18f-4. In connection with the adoption of Rule 18f-4, funds will no longer be
required to comply with the asset segregation framework arising from prior SEC guidance for covering certain derivative instruments
and related transactions. Compliance with Rule 18f-4 will not be required until August 2022. As the Fund comes into compliance,
the approach to asset segregation and coverage requirements described in this SAI will be impacted.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">These
and other new rules and regulations could, among other things, further restrict the Fund&#8217;s ability to engage in, or increase
the cost to the Fund of, derivatives transactions, for example, by making some types of derivatives no longer available to the
Fund or otherwise limiting liquidity. This may result in changes to the Fund&#8217;s principal investment strategies and could
adversely affect the Fund&#8217;s performance and its ability to achieve its investment objective.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Because
the situation in the markets is widespread and largely unprecedented, it may be unusually difficult to identify both risks and
opportunities using past models of the interplay of market forces, or to predict the duration of these market conditions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">INVESTMENT
RESTRICTIONS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
following are the Fund&#8217;s fundamental investment restrictions. These restrictions may not be changed without the approval
of the holders of a majority of the Fund&#8217;s outstanding voting securities (which for this purpose and under the 1940 Act
means the lesser of (i) 67% of the common shares represented at a meeting at which more than 50% of the outstanding common shares
are represented or (ii) more than 50% of the outstanding common shares). As long as preferred shares are outstanding, the investment
restrictions cannot be changed without the approval of a majority of the outstanding common and preferred shares, voting together
as a class, and the approval of a majority of the outstanding preferred shares, voting separately by class.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund may not:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 44.2pt"><FONT STYLE="font-size: 10pt">Issue
                                         senior securities, except as permitted by the 1940 Act and the rules and interpretive
                                         positions of the SEC thereunder.</FONT></TD></TR>                                                                                          <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-right: 44.2pt">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 46.25pt"><FONT STYLE="font-size: 10pt">Borrow
                                         money, except as permitted by the 1940 Act and the rules and interpretive positions of
                                         the SEC thereunder.</FONT></TD></TR>                                                                             <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-right: 46.25pt">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(3)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Invest
                                         in real estate, except that the Fund may invest in securities of issuers that invest
                                         in real estate or interests therein, securities that are secured by real estate or interests
                                         therein, securities of real estate investment funds and mortgage-backed securities.</FONT></TD></TR>                                                                                                                                             <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-size: 10pt">Make
                                         loans, except by the purchase of debt obligations, by entering into repurchase agreements
                                         or through the lending of portfolio securities and as otherwise permitted by the 1940
                                         Act and the rules and interpretive positions of the SEC thereunder.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(5)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Invest
                                         in physical commodities or contracts relating to physical commodities.</FONT></TD></TR>                                                                                                                                <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(6)</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 48.15pt"><FONT STYLE="font-size: 10pt">Act
                                         as an underwriter, except as it may be deemed to be an underwriter in a sale of securities
                                         held in its portfolio.</FONT></TD></TR>                                                                                <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-right: 48.15pt">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(7)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Make
                                         any investment inconsistent with the Fund&#8217;s classification as a diversified investment
                                         company under the 1940 Act and the rules and interpretive positions of the SEC thereunder.</FONT></TD></TR>                                                                                                                                                    <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(8)</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 50.2pt"><FONT STYLE="font-size: 10pt">Concentrate
                                         its investments in securities of companies in any particular industry as defined in the
                                         1940 Act and the rules and interpretive positions of the SEC thereunder.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">All
other investment policies of the Fund are considered non-fundamental and may be changed by the Board of Trustees without prior
approval of the Fund&#8217;s outstanding voting shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Currently
under the 1940 Act, the Fund is not permitted to issue preferred shares unless immediately after such issuance the net asset value
of the Fund&#8217;s portfolio is at least 200% of the liquidation value of the outstanding preferred shares (i.e., such liquidation
value may not exceed 50% of the value of the Fund&#8217;s total assets). In addition, currently under the 1940 Act, the Fund is
not permitted to declare any cash dividend or other distribution on its common shares unless, at the time of such declaration,
the net asset value of the Fund&#8217;s portfolio (determined after deducting the amount of such dividend or distribution) is
at least 200% of such liquidation value plus any senior securities representing indebtedness. Currently under the 1940 Act, the
Fund is not permitted to issue senior securities representing indebtedness unless immediately after such borrowing the Fund has
asset coverage of at least 300% of the aggregate outstanding principal balance of indebtedness (i.e., such indebtedness may not
exceed 33 1/3% of the value of the Fund&#8217;s total assets). Additionally, currently under the 1940 Act, the Fund generally
may not declare any dividend or other distribution upon any class of its shares, or purchase any such shares, unless the aggregate
indebtedness of the Fund has, at the time of the declaration of any such dividend or distribution or at the time of any such purchase,
an asset coverage of at least 300% after deducting the amount of such dividend, distribution, or purchase price, as the case may
be, except that dividends may be declared upon any preferred shares if such indebtedness has an asset coverage of at least 200%
at the time of declaration thereof after deducting the amount of the dividend. This limitation does not apply to certain privately
placed debt.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Currently
under the 1940 Act, the Fund is not permitted to lend money or property to any person, directly or indirectly, if such person
controls or is under common control with the Fund, except for a loan from the Fund to a company which owns all of the outstanding
securities of the Fund, except directors&#8217; qualifying shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Currently,
under interpretive positions of the SEC, the Fund may not have on loan at any time securities representing more than one third
of its total assets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Currently
under the 1940 Act, a &#8220;senior security&#8221; does not include any promissory note or evidence of indebtedness where such
loan is for temporary purposes only and in an amount not exceeding 5% of the value of the total assets of the issuer at the time
the loan is made. A loan is presumed to be for temporary purposes if it is repaid within sixty days and is not extended or renewed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Currently,
the Fund would be deemed to &#8220;concentrate&#8221; in a particular industry if it invested 25% or more of its total assets
in that industry.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Currently
under the 1940 Act, a &#8220;diversified company&#8221; means a management company which meets the following requirements: at
least 75% of the value of its total assets is represented by cash and cash items (including receivables), government securities,
securities of other investment companies, and other securities for the purposes of this calculation limited in respect of any
one issuer to an amount not greater in value than 5% of the value of the total assets of such management company and not more
than 10% of the outstanding voting securities of such issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 28; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Under
the 1940 Act, the Fund may not acquire the securities of other domestic or non-U.S. investment companies if, as a result, (1)
more than 10% of the Fund&#8217;s total assets would be invested in securities of other investment companies, (2) such
purchase would result in more than 3% of the total outstanding voting securities of any one investment company being held by
the Fund, (3) more than 5% of the Fund&#8217;s total assets would be invested in any one investment company, or (4) such
purchase would result in more than 10% of the total outstanding voting securities of a registered closed-end investment
company being held by the Fund and any other registered investment companies advised by Calamos. These limitations do not
apply, however, to the purchase of shares of money market funds or of any investment company in connection with a merger,
consolidation, reorganization or acquisition of substantially all the assets of another investment company, or to purchases
of investment companies made in accordance with SEC exemptive relief or rule. As a shareholder in any investment company, the
Fund will bear its ratable share of that investment company&#8217;s expenses, and would remain subject to payment of the
Fund&#8217;s advisory fees and other expenses with respect to assets so invested. Holders of common shares would therefore be
subject to duplicative expenses to the extent the Fund invests in other investment companies. In addition, the securities of
other investment companies may also be leveraged and will therefore be subject to the same leverage risks described herein
and in the prospectus. As described in the prospectus in the section entitled &#8220;Risks,&#8221; the net asset value and
market value of leveraged shares will be more volatile and the yield to shareholders will tend to fluctuate more than the
yield generated by unleveraged shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
addition, to comply with federal income tax requirements for qualification as a regulated investment company, the Fund&#8217;s
investments will be limited by both an income and an asset test. See &#8220;Certain Federal Income Tax Matters.&#8221;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">As
a non-fundamental policy, the Fund may not issue preferred shares, borrow money and/or issue debt securities with an aggregate
liquidation preference and aggregate principal amount exceeding 38% of the Fund&#8217;s managed assets measured at the time of
borrowing or issuance of the new securities. Investments of short sale proceeds and economic leverage through derivatives are
not considered borrowings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund presently utilizes leverage through its outstanding borrowings pursuant to the SSB Agreement, and its issuance of mandatory
redeemable preferred shares. See the prospectus (under the caption &#8220;Leverage&#8221;) for more information about the Fund&#8217;s
present activities related to the issuance of senior securities and the borrowing of money.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">MANAGEMENT
OF THE FUND</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Trustees
and Officers</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Fund&#8217;s Board of Trustees provides broad oversight over the Fund&#8217;s affairs. The officers of the Fund are responsible
for the Fund&#8217;s operations. The Fund&#8217;s Trustees and officers are listed below, together with their year of birth, positions
held with the Fund, term of office and length of service and principal occupations during the past five years. Asterisks indicate
those Trustees who are interested persons of the Fund within the meaning of the 1940 Act, and they are referred to as Interested
Trustees. Trustees who are not interested persons of the Fund are referred to as &#8220;Independent Trustees.&#8221; Each of the
Trustees serves as a Trustee of other investment companies (26 U.S. registered investment portfolios) for which Calamos serves
as investment adviser (collectively, the &#8220;Calamos Funds&#8221;). The address for all Independent and Interested Trustees
and all officers of the Fund is 2020 Calamos Court, Naperville, Illinois 60563.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 29; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Trustees
Who Are Interested Persons of the Fund:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: bottom; width: 25%; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; width: 2%; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; width: 21%; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; width: 2%; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>PORTFOLIOS
    IN</B></FONT> </TD>
    <TD STYLE="vertical-align: bottom; width: 2%; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; width: 33%; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>PRINCIPAL
    OCCUPATION(S)</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: left"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>NAME
    AND <BR>
    YEAR OF BIRTH</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>POSITION(S)
    WITH FUND</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>FUND
    COMPLEX^<BR>
    OVERSEEN</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>DURING
    THE PAST 5 YEARS<BR>
    AND OTHER DIRECTORSHIPS</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-size: 10pt; color: #231F20">John P. Calamos, Sr. (1940)*</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-size: 10pt; color: #231F20">Chairman, Trustee and President
    (since 1988) Term Expires 2023 Co-Portfolio Manager (since inception)</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20">26</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-size: 10pt; color: #231F20">Founder, Chairman and Global
    Chief Investment Officer, Calamos Asset Management, Inc. (&ldquo;CAM&rdquo;), Calamos Investments LLC (&ldquo;CILLC&rdquo;),
    Calamos Advisors LLC and its predecessor (&ldquo;Calamos Advisors&rdquo;) and Calamos Wealth Management LLC (&ldquo;CWM&rdquo;);
    Director, CAM; and previously Chief Executive Officer, Calamos Financial Services LLC and its predecessor (&ldquo;CFS&rdquo;),
    CAM, CILLC, Calamos Advisors, and CWM</FONT> </TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 30; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: #231F20"><B>Trustees Who Are Not Interested
    Persons of the Fund:</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: bottom; text-align: center; width: 25%"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 2%"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 21%"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 2%"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 15%"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>PORTFOLIOS
    IN</B></FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 2%"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 33%"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>PRINCIPAL
    OCCUPATION(S)</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: left"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>NAME
    AND <BR>
    YEAR OF BIRTH</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>POSITION(S)
    WITH FUND</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>FUND
    COMPLEX^<BR>
    OVERSEEN</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>DURING
    THE PAST 5 YEARS AND<BR>
    OTHER DIRECTORSHIPS</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">John E. Neal (1950)</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Trustee (since 2002); Lead Independent Trustee
    (since July 2019) Term Expires 2021</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt">26</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Retired; private investor; Director, Equity
    Residential Trust (publicly-owned REIT); Director, Creation Investments (private international microfinance company); Director,
    Centrust Bank (Northbrook, Illinois community bank); Director, Neuro-ID (private company providing prescriptive analytics
    for the risk industry); Partner, Linden LLC (health care private equity) (until 2018)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">William R. Rybak (1951)</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Trustee (since 2002) Term Expires 2023</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt">26</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Private investor; Chairman (since 2016)
    and Director (since 2010), Christian Brothers Investment Services Inc.; Trustee, JNL Series Trust and JNL Investors Series
    Trust (since 2007), JNL Variable Fund LLC (2007-2020), Jackson Variable Series Trust (2018-2020) and JNL Strategic Income
    Fund LLC (2007-2018) (open-end mutual funds)**; Trustee, Lewis University (since 2012); formerly Director, Private Bancorp
    (2003-2017); Executive Vice President and Chief Financial Officer, Van Kampen Investments, Inc. and subsidiaries (investment
    manager) (until 2000)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Virginia G. Breen (1964)</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Trustee (since 2015) Term Expires 2022</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt">26</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Private Investor; Director, Paylocity Holding
    Corporation (since 2018); Trustee, Neuberger Berman Private Equity Registered Funds (registered private equity funds) (since
    2015)***; Trustee, Jones Lang LaSalle Income Property Trust, Inc. (REIT) (since 2004); Director, UBS A&amp;Q Fund Complex
    (closed-end funds) (since 2008)****</FONT> </TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 31; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left; width: 25%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 2%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 21%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 2%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 15%"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>PORTFOLIOS
    IN</B></FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 2%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 33%"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>PRINCIPAL
    OCCUPATION(S)</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: left"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>NAME
    AND<BR>
 YEAR OF BIRTH</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>POSITION(S)
    WITH FUND</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>FUND
    COMPLEX^<BR>
    OVERSEEN</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>DURING
    THE PAST 5 YEARS AND<BR>
    OTHER DIRECTORSHIPS</B></FONT> </TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Lloyd A. Wennlund (1957)</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Trustee (since 2018) Term Expires 2022</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt">26</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Trustee and Chairman of the Board, Datum
    One Series Trust (since 2020); Expert Affiliate, Bates Group, LLC (financial services consulting and expert testimony firm) (since
    2018); Executive Vice President, The Northern Trust Company (1989- 2017); President and Business Unit Head of Northern Funds
    and Northern Institutional Funds (1994-2017); Director, Northern Trust Investments (1998-2017); Governor (2004-2017) and Executive
    Committee member (2011-2017), Investment Company Institute Board of Governors; Member, Securities Industry Financial Markets
    Association (SIFMA) Advisory Council, Private Client Services Committee and Private Client Steering Group (2006- 2017); Board
    Member, Chicago Advisory Board of the Salvation Army (2011-2019)</FONT> </TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Karen L. Stuckey (1953)</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Trustee (since December 2019) Term Expires
    2021</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt">26</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Member (since 2015) of Desert Mountain Community
    Foundation Advisory Board (non-profit organization); </FONT>Partner (1990-2012) of PricewaterhouseCoopers LLP (professional
    services firm) (held various positions 1975-1990); member of Executive, Nominating and Audit Committees and Chair of Finance
    Committee (1992-2006), and <FONT STYLE="color: #231F20">Emeritus Trustee (since 2007) of Lehigh University; Member, Women&rsquo;s
    Investment Management Forum (professional organization) (since inception); formerly, Trustee, Denver Board of OppenheimerFunds
    (open-end mutual funds) (2012-2019)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Christopher M. Toub (1959)</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Trustee (since December 2019) Term Expires
    2023</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-size: 10pt">26</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="color: #231F20">Private investor; formerly, Director of
    Equities, AllianceBernstein LP (until 2012)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 32; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Mr. Calamos, Sr. is an
 &#8220;interested person&#8221; of the Fund as defined in the 1940 Act because he is an officer of the Fund and an affiliate of
Calamos and CFS.</FONT></TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">**</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Overseeing
                                         131 portfolios in fund complex.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"> <FONT STYLE="font-size: 10pt">***</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">Overseeing
                                         eighteen portfolios in fund complex.</FONT> </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">****</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Overseeing four portfolios
in fund complex.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">^</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Fund Complex consists
of Calamos Investment Trust, Calamos Advisors Trust, Calamos Convertible Opportunities and Income Fund, Calamos Convertible and
High Income Fund, Calamos Strategic Total Return Fund, Calamos Global Total Return Fund, Calamos Global Dynamic Income Fund, Calamos
Dynamic Convertible and Income Fund, and Calamos Long/Short Equity &amp; Dynamic Income Trust.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Officers</I>.
The preceding table gives information about Mr. John P. Calamos, Sr., who is Chairman, Trustee and President of the Fund. The
following table sets forth each other officer&#8217;s name and year of birth, position with the Fund and date first appointed
to that position, and principal occupation(s) during the past five years. Each officer serves until his or her successor is chosen
and qualified or until his or her resignation or removal by the board of trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>NAME AND</B></FONT> </TD>
    <TD STYLE="width: 2%"> &nbsp; </TD>
    <TD STYLE="width: 21%"> &nbsp; </TD>
    <TD STYLE="width: 2%"> &nbsp; </TD>
    <TD STYLE="width: 50%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>YEAR OF BIRTH</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>POSITION(S)
    WITH FUND</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt; color: #231F20"><B>PRINCIPAL
    OCCUPATION(S)</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="color: #231F20">Robert F. Behan (1964)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">Vice President (since 2013)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">Executive Vice President and Chief Distribution Officer (since February 2021), CAM, CILLC,
    Calamos Advisors and CFS; prior thereto, President (2015-February 2021); Head of Global Distribution (2013-February 2021);
    Executive Vice President (2013-2015); Senior Vice President (2009-2013); Head of US Intermediary Distribution (2010-2013)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="color: #231F20">Thomas E. Herman (1961)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">Vice President (since 2016) and Chief Financial Officer (2016-2017 and since August 2019)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">Executive Vice President (since February 2021) and Chief Financial Officer, CAM, CILLC,
    Calamos Advisors, and CWM (since 2016); Chief Financial Officer and Treasurer, Harris Associates (2010- 2016)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="color: #231F20">J. Christopher Jackson (1951)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">Vice President and Secretary (since 2010)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">Senior Vice President, General Counsel and Secretary, CAM, CILLC, Calamos Advisors, CWM
    and CFS (since 2010); Director, Calamos Global Funds plc (since 2011)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="color: #231F20">John S. Koudounis (1966)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">Vice President (since 2016)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">President (since February 2021) and Chief Executive Officer, CAM, CILLC, Calamos Advisors,
    CWM, and CFS (since 2016); Director, CAM (since 2016); President and Chief Executive Officer (2010-2016), Mizuho Securities
    USA Inc.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"> <FONT STYLE="color: #231F20">Mark J. Mickey (1951)</FONT> </TD>
    <TD STYLE="width: 2%"> &nbsp; </TD>
    <TD STYLE="width: 21%"> <FONT STYLE="color: #231F20">Chief Compliance Officer (since 2005)</FONT> </TD>
    <TD STYLE="width: 2%"> &nbsp; </TD>
    <TD STYLE="padding-top: 0.05pt; width: 50%"> <FONT STYLE="color: #231F20">Chief Compliance Officer, Calamos Funds (since
    2005)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="padding-top: 0.05pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="color: #231F20">Stephen Atkins (1965)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="color: #231F20">Treasurer (since March 2020)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="padding-top: 0.05pt"> <FONT STYLE="color: #231F20">Senior Vice President, Head of Fund Administration, Calamos
    Advisors (since February 2020); prior thereto, Consultant, Fund Accounting and Administration, Vx Capital Partners (March
    2019-February 2020); Chief Financial Officer and Treasurer of SEC Registered Funds, and Senior Vice President, Head of European
    Special Purpose Vehicles Accounting and Administration, Avenue Capital Group (2010-2018)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 33; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">The
Fund&#8217;s Board of Trustees consists of seven members. In accordance with the Fund&#8217;s Agreement and Declaration of Trust,
the Board of Trustees is divided into three classes of approximately equal size. The terms of the trustees of the different classes
are staggered. The terms of John E. Neal and Karen L. Stuckey will expire at the annual meeting of shareholders in 2021. The terms
of Virginia G. Breen and Lloyd A. Wennlund will expire at the annual meeting of shareholders in 2022. The terms of John P. Calamos,
Sr., William R. Rybak, and Christopher M. Toub will expire at the annual meeting of shareholders in 2023. Such classification
of the Trustees may prevent the replacement of a majority of the Trustees for up to a two-year period. Each of the Fund&#8217;s
officers serves until his or her successor is chosen and qualified or until his or her resignation or removal by the Board of
Trustees. In connection with the issuance of the MRP Shares, Mr. Rybak and Ms. Breen were designated as the Trustees who represent
the holders of preferred shares of the Fund.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><I>Committees
of the Board of Trustees</I>. The Fund&#8217;s Board of Trustees currently has five standing committees:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><U>Executive
Committee</U>. Messrs. John P. Calamos, Sr. and John E. Neal are members of the Executive Committee, which has authority during
intervals between meetings of the Board of Trustees to exercise the powers of the Board, with certain exceptions.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><U>Audit
Committee</U>. Messrs. William R. Rybak (Chair), John E. Neal, Christopher M. Toub and Lloyd A. Wennlund and Mses. Virginia G.
Breen and Karen L. Stuckey, each a non-interested Trustee, serve on the Audit Committee. The Audit Committee operates under a
written charter adopted and approved by the Board, a copy of which is available on the Fund&#8217;s website, <U>www.calamos.com</U>.
The Audit Committee selects independent auditors, approves services to be rendered by the auditors, monitors the auditors&#8217;
performance, reviews the results of the Fund&#8217;s audit, determines whether to recommend to the Board that the Fund&#8217;s
audited financial statements be included in the Fund&#8217;s annual report and responds to other matters deemed appropriate by
the Board of Trustees.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><U>Governance
Committee</U>. Mses. Virginia G. Breen (Chair) and Karen L. Stuckey and Messrs. John E. Neal, William R. Rybak, Christopher M.
Toub and Lloyd A. Wennlund, each a non-interested Trustee, serve on the Governance Committee. The Governance Committee operates
under a written charter adopted by the Board, a copy of which is available on the Fund&#8217;s website, <U>www.calamos.com</U>.
The Governance Committee oversees the independence and effective functioning of the Board of Trustees and endeavors to be informed
about good practices for investment company boards. The members of the Governance Committee make recommendations to the Board
of Trustees regarding candidates for election as non-interested Trustees. The Governance Committee will consider shareholder recommendations
regarding potential candidates for nomination as Trustees properly submitted to the Governance Committee for its consideration.
A Fund shareholder who wishes to nominate a candidate to the Fund&#8217;s Board of Trustees must submit any such recommendation
in writing via regular mail to the attention of the Fund&#8217;s Secretary, at the address of the Fund&#8217;s principal executive
offices. The shareholder recommendation must include:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 34; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">the
                                         number and class of all Fund shares owned beneficially and of record by the nominating
                                         shareholder at the time the recommendation is submitted and the dates on which such shares
                                         were acquired, specifying the number of shares owned beneficially;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">a
                                         full listing of the proposed candidate&#8217;s education, experience (including knowledge
                                         of the investment company industry, experience as a director or senior officer of public
                                         or private companies, and directorships on other boards of other registered investment
                                         companies), current employment, date of birth, business and residence address, and the
                                         names and addresses of at least three professional references;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">information
                                         as to whether the candidate is, has been or may be an &#8220;interested person&#8221;
                                         (as such term is defined in the 1940 Act) of the Fund, Calamos or any of its affiliates,
                                         and, if believed not to be or have been an &#8220;interested person,&#8221; information
                                         regarding the candidate that will be sufficient for the Committee to make such determination;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 53.2pt"><FONT STYLE="font-size: 10pt">the
                                         written and signed consent of the candidate to be named as a nominee and to serve as
                                         a Trustee of the Fund, if elected;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-right: 53.2pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">a
                                         description of all arrangements or understandings between the nominating shareholder,
                                         the candidate and/or any other person or persons (including their names) pursuant to
                                         which the shareholder recommendation is being made, and if none, so specify;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">the
                                         class or series and number of all shares of the Fund owned of record or beneficially
                                         by the candidate, as reported by the candidate; and</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">such
                                         other information that would be helpful to the Governance Committee in evaluating the
                                         candidate.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Governance Committee may require the nominating shareholder to furnish other information it may reasonably require or deem necessary
to verify any information furnished pursuant to the procedures delineated above or to determine the qualifications and eligibility
of the candidate proposed by the nominating shareholder to serve as a Trustee. If the nominating shareholder fails to provide
such additional information in writing within seven days of receipt of a written request from the Governance Committee, the recommendation
of such candidate as a nominee will be deemed not properly submitted for consideration, and the Governance Committee is not required
to consider such candidate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Unless
otherwise specified by the Governance Committee&#8217;s chairman or by legal counsel to the non- interested Trustees, the Fund&#8217;s
Secretary will promptly forward all shareholder recommendations to the Governance Committee&#8217;s chairman and the legal counsel
to the non-interested Trustees, indicating whether the shareholder recommendation has been properly submitted pursuant to the
procedures adopted by the Governance Committee for the consideration of trustee candidates nominated by shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Recommendations
for candidates as trustees will be evaluated, among other things, in light of whether the number of Trustees is expected to change
and whether the Trustees expect any vacancies. During periods when the Governance Committee is not actively recruiting new Trustees,
shareholder recommendations will be kept on file until active recruitment is under way. After consideration of a shareholder recommendation,
the Governance Committee may dispose of the shareholder recommendation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Except
to the extent that such requirements are waived by a majority of the Continuing Trustees (as defined in the Agreement and Declaration
of Trust) then in office at the time of nomination of such trustee, only persons satisfying the following qualification requirements
may be nominated, elected, appointed, qualified or seated (&#8220;nominated or seated&#8221;) to serve as trustee:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(A)
An individual nominated or seated as a trustee shall be at least twenty-one years of age and not older than the mandatory retirement
age determined from time to time by the trustees or a committee of the trustees, in each case at the time the individual is nominated
or seated.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(B)
An individual nominated or seated as a trustee shall, at the time the individual is nominated or seated, serve as a trustee or
director of no more than 5 investment companies (including the Fund) having securities registered under the Exchange Act (investment
companies or individual series thereof having the same investment adviser or investment advisers affiliated through a control
relationship shall all be counted as a single company for this purpose).</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 35; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(C)
An individual nominated or seated as a trustee shall not serve or have served within the past 3 years as a trustee of any closed-end
investment company which, while such individual was serving as a trustee or within one year after the end of such service, ceased
to be a closed-end investment company registered under the 1940 Act, unless such individual was initially nominated for election
as a trustee by the board of trustees of such closed-end investment company or had served as a trustee since the inception of
such closed-end investment company.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(D)
Except as set forth in Section 4.6 of the By-Laws of the Fund, an individual nominated or seated as a trustee shall not be an
employee, officer, partner, member, trustee, director or 5% or greater shareholder in any investment adviser (other than the Fund&#8217;s
investment adviser or any investment adviser affiliated with the Fund&#8217;s investment adviser), collective investment vehicle
primarily engaged in the business of investing in &#8220;investment securities&#8221; (as defined in the 1940 Act) (an &#8220;investment
company&#8221;) or entity controlling or controlled by any investment adviser (other than the Fund&#8217;s investment adviser
or any investment adviser affiliated with the Fund&#8217;s investment adviser) or investment company.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(E)
An individual nominated or seated as a trustee shall not be and shall not have been subject to any censure, order, consent decree
(including consent decrees in which the respondent has neither admitted nor denied the findings) or adverse final action of any
federal, state or foreign governmental or regulatory authority (including self-regulatory organizations), barring or suspending
such individual from participation in or association with any investment-related business or restricting such individual&#8217;s
activities with respect to any investment-related business, nor shall an individual nominated or seated as a trustee be the subject
of any investigation or proceeding that could reasonably be expected to result in an individual nominated or seated as a trustee
failing to satisfy the requirements of this paragraph, nor shall any individual nominated or seated as a trustee be or have engaged
in any conduct that has resulted in, or could have reasonably been expected or would reasonably be expected to result in, the
Commission censuring, placing limitations on the activities, functions, or operations of, suspending, or revoking the registration
of any investment adviser under Section 203(e) or (f) of the Investment Advisers Act of 1940, as amended.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(F)
An individual nominated or seated as a trustee shall not have been charged (unless such charges were dismissed or the individual
was otherwise exonerated) with a criminal offense involving moral turpitude, dishonesty or breach of trust, or have been convicted
or have pled guilty or nolo contendere with respect to a felony under the laws of the United States or any state thereof.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(G)
An individual nominated or seated as a trustee shall not be and shall not have been the subject of any of the ineligibility provisions
contained in Section 9(b) of the 1940 Act that would permit, or could reasonably have been expected or would reasonably be expected
to permit, the Commission by order to prohibit, conditionally or unconditionally, either permanently or for a period of time,
such individual from serving or acting as an employee, officer, trustee, director, member of an advisory board, investment adviser
or depositor of, or principal underwriter for, a registered investment company or affiliated person (as defined in Section 2(a)(3)
of the 1940 Act) of such investment adviser, depositor, or principal underwriter.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><U>Dividend
Committee</U>. Mr. John P. Calamos, Sr. serves as the sole member of the dividend committee and Mr. Rybak serves as the liaison
to the Dividend Committee for the non-interested Trustees. The Dividend Committee is authorized, subject to Board review, to declare
distributions on the Fund&#8217;s shares in accordance with the Fund&#8217;s distribution policies, including, but not limited
to, regular dividends, special dividends and short- and long-term capital gains distributions.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><U>Valuation
Committee</U>. Messrs. Lloyd A. Wennlund (Chair), John E. Neal, William R. Rybak and Christopher M. Toub and Mses. Virginia G.
Breen, and Karen L. Stuckey, each a non-interested Trustee, serve on the Valuation Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Valuation Committee is responsible for overseeing the implementation of the valuation procedures adopted by the Board of
Trustees. The members of the Valuation Committee make recommendations to the Board of Trustees regarding valuation matters
relating to the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 36; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">In
addition to the above committees, there is a Board of Trustees directed pricing committee comprised of officers of the Fund and
employees of Calamos.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
following table identifies the number of meetings the Board of Trustees and each standing committee held during the fiscal year
ended October 31, 2020.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> NUMBER OF MEETINGS </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> DURING FISCAL YEAR ENDED </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> October 31,
    2020 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 67%"> Board of Trustees </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; text-align: center"> 12 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Executive Committee </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Audit Committee </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 4 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Governance Committee </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> Dividend Committee<SUP>(1)</SUP> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Valuation Committee </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 4 </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt"><SUP>(1)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although
the Dividend Committee held no meetings, it acted by written consent on 12 occasions.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund&#8217;s Agreement and Declaration of Trust provides that the Fund will indemnify the Trustees and officers against liabilities
and expenses incurred in connection with any claim in which they may be involved because of their offices with the Fund, unless
it is determined in the manner specified in the Agreement and Declaration of Trust that they have not acted in good faith in the
reasonable belief that their actions were in the best interests of the Fund or that such indemnification would relieve any officer
or Trustee of any liability to the Fund or its shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless
disregard of his or her duties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Leadership
Structure and Qualifications of the Board of Trustees. </I>The Board of Trustees is responsible for oversight of the Fund. The
Fund has engaged Calamos to manage the Fund on a day-to-day basis. The Board of Trustees oversees Calamos and certain other principal
service providers in the operations of the Fund. The Board of Trustees is currently composed of seven members, six of whom are
non-interested trustees. The Board of Trustees meets in-person at regularly scheduled meetings four times throughout the year.
In addition, the Board may meet in-person or by telephone at special meetings or on an informal basis at other times. As described
above, the Board of Trustees has established five standing committees &#8212; Audit, Dividend, Executive, Governance and Valuation
 &#8212; and may establish ad hoc committees or working groups from time to time, to assist the Board of Trustees in fulfilling
its oversight responsibilities. The non-interested trustees also have engaged independent legal counsel to assist them in fulfilling
their responsibilities. Such independent legal counsel also serves as counsel to the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
chairman of the Board of Trustees is an &#8220;interested person&#8221; of the Fund (as such term is defined in the 1940 Act).
The non-interested trustees have appointed a lead independent trustee. The lead independent trustee serves as a liaison between
Calamos and the non-interested trustees and leads the non-interested trustees in all aspects of their oversight of the Fund. Among
other things, the lead independent trustee reviews and approves, with the chairman, the agenda for each board and committee meeting
and facilitates communication among the Fund&#8217;s non-interested trustees. The Trustees believe that the Board&#8217;s leadership
structure is appropriate given the characteristics and circumstances of the Fund. The Trustees also believe that this structure
facilitates the exercise of the Board&#8217;s independent judgment in fulfilling its oversight function and efficiently allocates
responsibility among committees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Board of Trustees has concluded that, based on each Trustee&#8217;s experience, qualifications, attributes or skills on an
individual basis and in combination with those of the other Trustees, each Trustee should serve as a member of the Board. In
making this determination, the Board has taken into account the actual service of the Trustees during their tenure in
concluding that each should continue to serve. The Board also has considered each Trustee&#8217;s background and experience.
Set forth below is a brief discussion of the specific experience qualifications, attributes or skills of each Trustee that
led the Board to conclude that he should serve as a Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 37; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Each
of Messrs. Calamos, Neal and Rybak has served for more than ten years as a Trustee of the Fund. In addition, each of Mses. Breen
and Stuckey and Messrs. Calamos, Neal, Rybak, Toub and Wennlund has more than 25 years of experience in the financial services
industry. Each of Mses. Breen and Stuckey and Messrs. Calamos, Neal, Rybak and Wennlund has experience serving on boards of other
entities, including other investment companies. Each of Ms. Breen and Messrs. Calamos, Neal, Rybak and Toub has earned a Masters
of Business Administration degree.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Risk
Oversight. </I>The operation of a registered investment company, including its investment activities, generally involves a variety
of risks. As part of its oversight of the Fund, the Board of Trustees oversees risk through various regular board and committee
activities. The Board of Trustees, directly or through its committees, reviews reports from, among others, Calamos, the Fund&#8217;s
Compliance Officer, the Fund&#8217;s independent registered public accounting firm, independent outside legal counsel, and internal
auditors of Calamos or its affiliates, as appropriate, regarding risks faced by the Fund and the risk management programs of Calamos
and certain service providers. The actual day-to-day risk management with respect to the Fund resides with Calamos and other service
providers to the Fund. Although the risk management policies of Calamos and the service providers are designed to be effective,
there is no guarantee that they will anticipate or mitigate all risks. Not all risks that may affect the Fund can be identified,
eliminated or mitigated and some risks simply may not be anticipated or may be beyond the control of the Board of Trustees or
Calamos, its affiliates or other service providers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><I>Compensation
of Officers and Trustees. </I>John P. Calamos, Sr., the trustee who is an &#8220;interested person&#8221; of the Fund, does not
receive compensation from the Fund. Non-interested trustees are compensated by the Fund, but do not receive any pension or retirement
benefits from the Fund. Mr. Mickey, the Fund&#8217;s Chief Compliance Officer, is the only Fund officer who receives compensation
from the Fund. The following table sets forth the total compensation (including any amounts deferred, as described below) paid
by the Fund and the Calamos Fund Complex during the fiscal year ended October 31, 2020 to each of the current non-interested trustees
and the one officer compensated by the Fund.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"> Name of Trustee </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Aggregate
    Compensation<BR> from Fund </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"> Total
    Compensation<BR> from Calamos Fund<BR> Complex(1)* </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 54%; font-size: 10pt; text-align: left"> John P. Calamos, Sr </TD><TD STYLE="width: 1%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"> $ </TD><TD STYLE="width: 20%; font-size: 10pt; text-align: right"> 0 </TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"> $ </TD><TD STYLE="width: 20%; font-size: 10pt; text-align: right"> 0 </TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"> Virginia G. Breen </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 8,336 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 177,917 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"> <FONT STYLE="font-size: 10pt">John E. Neal<SUP>(1)</SUP></FONT> </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 9,765 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 207,917 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"> William R. Rybak </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 8,812 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 187,917 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"> <FONT STYLE="font-size: 10pt">Karen L. Stuckey<SUP>(2)</SUP></FONT> </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 7,860 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 167,917 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"> <FONT STYLE="font-size: 10pt">Christopher M. Toub<SUP>(2)</SUP></FONT> </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 7,860 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 167,917 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"> Lloyd A. Wennlund </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 8,336 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 177,917 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"> Mark J. Mickey </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 7,150 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> 150,000 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"> <FONT STYLE="font-size: 10pt">(1)</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 10pt">Includes
                                         fees that may have been deferred during the year pursuant to a deferred compensation
                                         plan with Calamos Investment Trust. Deferred amounts are treated as though such amounts
                                         have been invested and reinvested in shares of one or more of the portfolios of the Calamos
                                         Investment Trust as selected by the Trustee. As of October 31, 2020, the value of the
                                         deferred compensation account of Mr. Neal was $2,260,776.</FONT> </TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Ms. Stuckey and Mr. Toub
were elected to the Board effective December 16, 2019.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-size: 10pt">The
                                         Calamos Fund Complex consists of nine investment companies and each applicable series
                                         thereunder including the Fund, Calamos Investment Trust, Calamos Advisors Trust, Calamos
                                         Global Total Return Fund, Calamos Convertible and High Income Fund, Calamos Strategic
                                         Total Return Fund, Calamos Global Dynamic Income Fund, Calamos Dynamic Convertible and
                                         Income Fund and Calamos Long/Short Equity &amp; Dynamic Income Trust.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 38; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
compensation paid to the non-interested trustees of the Calamos Funds for their services as such consists of an annual retainer
fee in the amount of $100,000, with annual supplemental retainers of $40,000 to the lead independent trustee, $20,000 to the chair
of the audit committee and $10,000 to the chair of any other standing committee. Each non-interested trustee also receives a meeting
attendance fee of $7,000 for any regular or special board meeting attended in person, $3,500 for any regular or special board
meeting attended by telephone, and $3,000 for any committee meeting attended in person or by telephone, and $1,500 per ad-hoc
committee meeting to the ad-hoc committee chair. Compensation paid to the non- interested trustees is allocated among the series
of the Calamos Funds in accordance with a procedure determined from time to time by the Board.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Fund has adopted a deferred compensation plan for non-interested trustees (the &#8220;Plan&#8221;). Under the Plan, a trustee
who is not an &#8220;interested person&#8221; of Calamos and has elected to participate in the Plan (&#8220;a participating trustee&#8221;)
may defer receipt of all or a portion of his or her compensation from the Fund in order to defer payment of income taxes or for
other reasons. The deferred compensation payable to the participating trustee is credited to the trustee&#8217;s deferred compensation
account as of the business day such compensation otherwise would have been paid to the trustee. The value of a trustee&#8217;s
deferred compensation account at any time is equal to what the value would be if the amounts credited to the account had instead
been invested in Class I shares of one or more of the funds of Calamos Investment Trust as designated by the trustee. Thus, the
value of the account increases with contributions to the account or with increases in the value of the measuring shares, and the
value of the account decreases with withdrawals from the account or with declines in the value of the measuring shares. If a participating
trustee retires, the trustee may elect to receive payments under the plan in a lump sum or in equal annual installments over a
period of five years. If a participating trustee dies, any amount payable under the Plan will be paid to the trustee&#8217;s beneficiaries.
Each Calamos Fund&#8217;s obligation to make payments under the Plan is a general obligation of that Fund. No Fund is liable for
any other Fund&#8217;s obligations to make payments under the Plan.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><I>Ownership
of Shares of the Fund and Other Calamos Funds</I>. The following table indicates the value of shares that each Trustee beneficially
owns in the Fund and the Calamos Fund Complex in the aggregate. The value of shares of the Calamos Funds is determined on the
basis of the net asset value of the class of shares held as of December 31, 2020. The value of the shares held, are stated in
ranges in accordance with the requirements of the SEC. The table reflects the Trustee&#8217;s beneficial ownership of shares of
the Calamos Fund Complex. Beneficial ownership is determined in accordance with the rules of the SEC.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> &nbsp; </TD><TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> AGGREGATE DOLLAR RANGE
    OF EQUITY<BR>
    SECURITIES IN ALL<BR> REGISTERED </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> DOLLAR RANGE </TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> INVESTMENT COMPANIES </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> OF EQUITY SECURITIES </TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> OVERSEEN BY TRUSTEE IN THE </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; width: 44%"> NAME
    OF TRUSTEE </TD><TD STYLE="padding-bottom: 1pt; text-align: center; width: 1%; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; width: 27%"> IN
    THE FUND </TD><TD STYLE="padding-bottom: 1pt; text-align: center; width: 1%; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 27%; text-align: center"> CALAMOS
    FUNDS </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> John P. Calamos, Sr.<SUP>(1)(2)</SUP> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> Over $100,000 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> Over $100,000 </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Virginia G. Breen </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> None </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> Over $100,000 </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> John E. Neal </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> None </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> Over $100,000 </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> William R. Rybak </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> $50,001 &ndash; $100,000 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> Over $100,000 </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Karen L. Stuckey<SUP>(3)</SUP> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> None </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> Over $100,000 </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Christopher M. Toub<SUP>(3)</SUP> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> None </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> None </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Lloyd A. Wennlund </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> None </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> Over $100,000 </TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-size: 10pt">Pursuant
                                         to Rule 16a-1(a)(2) of the Exchange Act, John P. Calamos, Sr. may be deemed to have indirect
                                         beneficial ownership of Fund shares held by Calamos Investments LLC, its subsidiaries,
                                         and its parent companies (Calamos Asset Management, Inc. and Calamos Partners LLC, and
                                         its parent company, Calamos Family Partners, Inc.) due to his direct or indirect ownership
                                         interest in those entities. As a result, these amounts reflect any holdings of those
                                         entities in addition to the individual, personal accounts of John P. Calamos, Sr.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Indicates an &#8220;interested
person&#8221; of the Trust, as defined in the 1940 Act.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Ms. Stuckey and Mr. Toub
were elected to the Board effective December 16, 2019.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 39; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Code
of Ethics</I>. The Fund and Calamos have adopted a code of ethics under Rule 17j-1 under the 1940 Act which is applicable to officers,
directors/Trustees and designated employees of Calamos and CFS. Employees of Calamos and CFS are permitted to make personal securities
transactions, including transactions in securities that the Fund may purchase, sell or hold, subject to requirements and restrictions
set forth in the code of ethics of Calamos and CFS. The code of ethics contains provisions and requirements designed to identify
and address certain conflicts of interest between personal investment activities of Calamos and CFS employees and the interests
of investment advisory clients such as the Fund. Among other things, the code of ethics prohibits certain types of transactions
absent prior approval, imposes time periods during which personal transactions may not be made in certain securities, and requires
the submission of duplicate broker confirmations and statements and quarterly reporting of securities transactions. Additional
restrictions apply to portfolio managers, traders, research analysts and others involved in the investment advisory process. Exceptions
to these and other provisions of the code of ethics may be granted in particular circumstances after review by appropriate personnel.
Text only versions of the code of ethics can be viewed online or downloaded from the EDGAR Database on the SEC&#8217;s internet
website at <U>www.sec.gov</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><I>Proxy
Voting Procedures</I>. The Fund has delegated proxy voting responsibilities to Calamos, subject to the board of trustees&#8217;
general oversight. The Fund expects Calamos  to vote proxies related to the Fund&#8217;s portfolio securities for which
the Fund has voting authority consistent with the Fund&#8217;s best interests. Calamos has adopted its own Proxy Voting
Policies and Procedures (the &#8220;Policies&#8221;). The Policies address, among other things, conflicts of interest that may
arise between the Funds&#8217; interests, and the interests of Calamos and its affiliates.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
following is a summary of the Policies used by Calamos in voting proxies.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">To
assist it in voting proxies, Calamos has established a Proxy Review Committee (&#8220;committee&#8221;) comprised of
members of its Portfolio Management (which may include portfolio managers and/or research analysts), Operations, Legal and Compliance
Departments. The committee and/or its members will vote proxies using the following guidelines.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">In
general, if Calamos believes that a company&#8217;s management and board have interests sufficiently aligned with the
Fund&#8217;s interest, Calamos will vote in favor of proposals recommended by the company&#8217;s board. More specifically,
Calamos seeks to ensure that the board of directors of a company is sufficiently aligned with security holders&#8217;
interests and provides proper oversight of the company&#8217;s management. In many cases this may be best accomplished by having
a majority of independent board members. Calamos generally prefers that key committees such as audit, nominating, and compensation
committees be comprised of independent directors.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Because
of the enormous variety and complexity of transactions that are presented to shareholders, such as mergers, acquisitions, reincorporations,
adoptions of anti-takeover measures (including adoption of a shareholder rights plan, requiring supermajority voting on particular
issues, adoption of fair price provisions, issuance of blank check preferred stocks and the creation of a separate class of stock
with unequal voting rights), changes to capital structures (including authorizing additional shares, repurchasing stock or approving
a stock split), executive compensation and option plans, that occur in a variety of industries, companies and market cycles, it
is extremely difficult to foresee exactly what would be in the best interests of a Fund in all circumstances. Moreover, voting
on such proposals involves considerations unique to each transaction. Accordingly, Calamos will vote on a case-by-case
basis on proposals presenting these transactions.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Calamos has assigned its administrative duties with respect to the proxy analysis and voting decisions to the &#8220;Proxy Group&#8221;
(the Investment team &#8211; research analysts and portfolio management), and administrative processing to its Corporate Actions
Group within the Operations Department. To assist it in analyzing the proxy proposals, Calamos subscribes to Glass Lewis, an unaffiliated
third-party corporate governance research service that provides in-depth analyses of shareholder meeting agendas and voting recommendations.
Glass Lewis facilitates the voting of each proxy by applying Calamos&#8217; custom proxy voting rules (&#8220;proxy voting policy&#8221;)
to the proposal(s). Any proxy proposal that is not covered by the proxy voting policy is reviewed and considered by the Proxy
Group and voted in accordance with that review.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 40; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Finally,
Calamos has established procedures to identify potential conflicts of interests that might arise when voting proxies
for the Fund. Calamos will generally apply its proxy voting policy to proxy proposals regardless if a conflict has been identified.
However, in these situations, the Proxy Group will refer the proxy proposal, along with the recommended course of action, if any,
to the Proxy Review Committee (&#8220;committee&#8221;) for evaluation. The committee will independently review the proposals
and determine the appropriate action to be taken. The committee will then memorialize the conflict and the procedures used to
address the conflict.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The Fund
 is required to file with the SEC its complete proxy voting record for the 12-month period ending June 30, by no later than
August 31 of each year. The Fund&#8217;s proxy voting record for the most recent 12-month period ending June 30 is available
by August 31 of each year (1) on the SEC&#8217;s website at <U>www.sec.gov</U>, and (2) without charge, upon request, by calling
800-582-6959.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">You
may obtain a copy of Calamos'  Policies by calling 800.582.6959, by visiting Calamos'  website at
<U>www.calamos.com</U>, by writing Calamos at: Calamos Investments, Attn: Client Services, 2020 Calamos Court, Naperville,
IL 60563, and on the SEC&#8217;s website at <U>www.sec.gov</U>.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Investment
Adviser and Investment Management Agreement</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Subject
to the overall supervision and review of the Board of Trustees, Calamos provides the Fund with investment research, advice and
supervision and furnishes continuously an investment program for the Fund, consistent with the investment objective and policies
of the Fund. In addition, Calamos furnishes for use of the Fund such office space and facilities as the Fund may require for its
reasonable needs, supervises the Fund&#8217;s business and affairs and provides the following other services on behalf of the
Fund and not provided by persons not a party to the investment management agreement: (i) preparing or assisting in the preparation
of reports to and meeting materials for the Trustees; (ii) supervising, negotiating contractual arrangements with, to the extent
appropriate, and monitoring the performance of, accounting agents, custodians, depositories, transfer agents and pricing agents,
accountants, attorneys, printers, underwriters, brokers and dealers, insurers and other persons in any capacity deemed to be necessary
or desirable to Fund operations; (iii) assisting in the preparation and making of filings with the SEC and other regulatory and
self-regulatory organizations, including, but not limited to, preliminary and definitive proxy materials, amendments to the Fund&#8217;s
registration statement on Form N-2 and reports on Form N-CEN and Form N-CSR; (iv) overseeing the tabulation of proxies by the
Fund&#8217;s transfer agent; (v) assisting in the preparation and filing of the Fund&#8217;s federal, state and local tax returns;
(vi) assisting in the preparation and filing of the Fund&#8217;s federal excise tax returns pursuant to Section 4982 of the Code;
(vii) providing assistance with investor and public relations matters; (viii) monitoring the valuation of portfolio securities
and the calculation of net asset value; (ix) monitoring the registration of shares of beneficial interest of the Fund under applicable
federal and state securities laws; (x) maintaining or causing to be maintained for the Fund all books, records and reports and
any other information required under the 1940 Act, to the extent that such books, records and reports and other information are
not maintained by the Fund&#8217;s custodian or other agents of the Fund; (xi) assisting in establishing the accounting policies
of the Fund; (xii) assisting in the resolution of accounting issues that may arise with respect to the Fund&#8217;s operations
and consulting with the Fund&#8217;s independent accountants, legal counsel and the Fund&#8217;s other agents as necessary in
connection therewith; (xiii) reviewing the Fund&#8217;s bills; (xiv) assisting the Fund in determining the amount of dividends
and distributions available to be paid by the Fund to its shareholders, preparing and arranging for the printing of dividend notices
to shareholders, and providing the transfer and dividend paying agent, the custodian, and the accounting agent with such information
as is required for such parties to effect the payment of dividends and distributions; and (xv) otherwise assisting the Fund as
it may reasonably request in the conduct of the Fund&#8217;s business, subject to the direction and control of the Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Under
the investment management agreement, the Fund pays to Calamos a fee based on the average weekly managed assets that is
computed weekly and payable monthly in arrears. The fee paid by the Fund is set at the annual rate of 0.80% of the
Fund&#8217;s average weekly managed assets. Because the management fees paid to Calamos are based upon a percentage of the
Fund&#8217;s managed assets, the amount of management fees paid to Calamos when the Fund uses leverage will be higher than if
the Fund did not use leverage. Therefore, Calamos has a financial incentive to use leverage, which creates a conflict of
interest between Calamos and the Fund&#8217;s common shareholders. Subject to the oversight of the Board, Calamos intends to
use leverage only when it believes it will serve the best interests of the Fund&#8217;s common shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 41; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Under
the terms of its investment management agreement with the Fund, except for the services and facilities provided by Calamos as
set forth therein, the Fund shall assume and pay all expenses for all other Fund operations and activities and shall reimburse
Calamos for any such expenses incurred by Calamos. The expenses borne by the Fund shall include, without limitation: (a) organization
expenses of the Fund (including out-of- pocket expenses, but not including Calamos&#8217; overhead or employee costs); (b) fees
payable to Calamos; (c) legal expenses; (d) auditing and accounting expenses; (e) maintenance of books and records that are required
to be maintained by the Fund&#8217;s custodian or other agents of the Fund; (f) telephone, telex, facsimile, postage and other
communications expenses; (g) taxes and governmental fees; (h) fees, dues and expenses incurred by the Fund in connection with
membership in investment company trade organizations and the expense of attendance at professional meetings of such organizations;
(i) fees and expenses of accounting agents, custodians, subcustodians, transfer agents, dividend disbursing agents and registrars;
(j) payment for portfolio pricing or valuation services to pricing agents, accountants, bankers and other specialists, if any;
(k) expenses of preparing share certificates; (l) expenses in connection with the issuance, offering, distribution, sale, redemption
or repurchase of securities issued by the Fund; (m) expenses relating to investor and public relations provided by parties other
than Calamos; (n) expenses and fees of registering or qualifying shares of beneficial interest of the Fund for sale; (o) interest
charges, bond premiums and other insurance expenses; (p) freight, insurance and other charges in connection with the shipment
of the Fund&#8217;s portfolio securities; (q) the compensation and all expenses (specifically including travel expenses relating
to Fund business) of Trustees, officers and employees of the Fund who are not affiliated persons of Calamos; (r) brokerage commissions
or other costs of acquiring or disposing of any portfolio securities of the Fund; (s) expenses of printing and distributing reports,
notices and dividends to shareholders; (t) expenses of preparing and setting in type, printing and mailing prospectuses and statements
of additional information of the Fund and supplements thereto; (u) costs of stationery; (v) any litigation expenses; (w) indemnification
of Trustees and officers of the Fund; (x) costs of shareholders&#8217; and other meetings; (y) interest on borrowed money, if
any; and (z) the fees and other expenses of listing the Fund&#8217;s shares on Nasdaq or any other national stock exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">For
the fiscal years ended October 31, 2018, October 31, 2019 and October 31, 2020, the Fund incurred $9,363,206, $9,012,929 and $9,362,348
respectively, in advisory fees.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
investment management agreement had an initial term ending August 1, 2003 and continues in effect from year to year thereafter
so long as such continuation is approved at least annually by (1) the Board of Trustees or the vote of a majority of the outstanding
voting securities (as defined in the 1940 Act) of the Fund, and (2) a majority of the Trustees who are not interested persons
of any party to the investment management agreement, cast in person at a meeting called for the purpose of voting on such approval.
The investment management agreement may be terminated at any time, without penalty, by either the Fund or Calamos upon 60 days&#8217;
written notice, and is automatically terminated in the event of its assignment as defined in the 1940 Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Calamos
is a wholly-owned subsidiary of Calamos Investments LLC (&#8220;CILLC&#8221;). Calamos Asset Management, Inc.
(&#8220;CAM&#8221;) is the sole manager of CILLC and a wholly-owned subsidiary of Calamos Partners LLC (&#8220;CPL&#8221;).
As of January 31, 2021, approximately 22% of the outstanding equity interest of CILLC is owned by CAM and the remaining
approximately 78% of CILLC is owned by CPL and John P. Calamos, Sr. CPL is owned by Calamos Family Partners, Inc.
(&#8220;CFP&#8221;), John P. Calamos, Sr., and John S. Koudounis. CFP is owned by members of the Calamos family, including
John P. Calamos, Sr. In addition, Mr. Koudounis has the option to purchase a controlling interest in CPL upon the death or
permanent disability of John P. Calamos, Sr., provided Mr. Koudounis is then serving as Chief Executive Officer of CAM and
CILLC. John P. Calamos, Sr. is an affiliated person of the Fund and Calamos by virtue of his position as Chairman, Trustee
and President of the Fund and Chairman and Global Chief Investment Officer (&#8220;Global CIO&#8221;) of Calamos. John S.
Koudounis, Robert F. Behan, Thomas E. Herman, J. Christopher Jackson and Stephen Atkins are affiliated persons of the Fund
and Calamos by virtue of their positions as Vice President; Vice President; Vice President and Chief Financial Officer; Vice
President and Secretary; and Treasurer of the Fund, respectively, and as President and Chief Executive Officer;
Executive Vice President and Chief Distribution Officer; Executive Vice President and Chief Financial Officer; Senior
Vice President, General Counsel and Secretary; and Head of Fund Administration of Calamos, respectively.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 42; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">A
discussion regarding the basis for the Board of Trustees&#8217; decision to approve the renewal of the Investment Management Agreement
is available in the Fund&#8217;s Annual Report to shareholders for the fiscal year ended October 31, 2020.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
use of the name &#8220;Calamos&#8221; in the name of the Fund is pursuant to licenses granted by CILLC, and the Fund has agreed
to change its name to remove that reference if Calamos ceases to act as investment adviser to the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Portfolio
Managers</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><B>John
P. Calamos, Sr. </B>John P. Calamos, Sr. has been President, Trustee and Co-Portfolio Manager of the Fund since inception and
for Calamos: Founder, Chairman and Global CIO since August 2016; Chairman and Global CIO from April to August 2016; Chairman,
Chief Executive Officer and Global Co-CIO between April 2013 and April 2016; Chief Executive Officer and Global Co-CIO between
August 2012 and April 2013; and Chief Executive Officer and Co-CIO prior thereto.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><B>Dennis
Cogan. </B>Dennis Cogan joined Calamos in March 2005 and since February 2021 has been a Senior Co-Portfolio Manager. From March 2013 to February 2021, he was Co-Portfolio Manager,
and from March 2005 to March 2013, he was a senior strategy analyst.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B>R.
Matthew Freund. </B>R. Matthew Freund joined Calamos in November 2016 as a Co-CIO, Head of Fixed Income Strategies, as well as
a Senior Co-Portfolio Manager. Previously, he was SVP of Investment Portfolio Management and Chief Investment Officer at USAA
Investments since 2010.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><B>John
Hillenbrand. </B>John Hillenbrand joined Calamos in 2002 and since September 2015 has been a Co-CIO, Head of Multi-Asset Strategies
and Co-Head of Convertible Strategies, as well as a Senior Co-Portfolio Manager.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">From
March 2013 to September 2015 he was a Co-Portfolio Manager. Between August 2002 and March 2013 he was a senior strategy analyst.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B>Nick
Niziolek. </B>Nick Niziolek joined Calamos in March 2005 and has been a Co-CIO, Head of Global Strategies, as well as a Senior
Co-Portfolio Manager, since September 2015. Between August 2013 and September 2015 he was a Co-Portfolio Manager, Co-Head of Research.
Between March 2013 and August 2013 he was a Co-Portfolio Manager. Between March 2005 and March 2013 he was a senior strategy analyst.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><B>Eli
Pars. </B>Eli Pars joined Calamos in May 2013 and has been a Co-CIO, Head of Alternative Strategies and Co-Head of Convertible
Strategies, as well as a Senior Co-Portfolio Manager, since September 2015. Between May 2013 and September 2015, he was a Co-Portfolio
Manager. Previously, he was a Portfolio Manager at Chicago Fundamental Investment Partners from February 2009 until November 2012.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B>Jon
Vacko. </B>Jon Vacko joined Calamos in June 2000 and has been a Senior Co-Portfolio Manager since September 2015. Previously,
he was a Co-Portfolio Manager from August 2013 to September 2015; prior thereto he was a Co-Head of Research and Investments from
July 2010 to August 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><B>Joe
Wysocki. </B>Joe Wysocki joined Calamos in October 2003 and since February 2021 has been a Senior Co-Portfolio Manager. Previously,
Mr. Wysocki was a Co-Portfolio Manager from March 2015 to January 2021; sector head from March 2014 to March 2015; a Co-Portfolio
Manager from March 2013 to March 2014; and a senior strategy analyst from February 2007 to March 2013.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 43; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Calamos
employs a &#8220;team of teams&#8221; approach to portfolio management, led by the Global CIO and our CIO team consisting of
5 Co-CIOs with specialized areas of investment expertise. The Global CIO and Co-CIO team are responsible for oversight of
investment team resources, investment processes, performance and risk. As heads of investment verticals, Co-CIOs manage
investment team members and, along with Co-Portfolio Managers, have day-to-day portfolio oversight and construction
responsibilities of their respective investment strategies. While investment research professionals within each
Co-CIO&#8217;s team are assigned specific strategy responsibilities, they also provide support to other investment team
verticals, creating deeper insights across a wider range of investment strategies. The combination of specialized investment
teams with cross team collaboration results in what we call our team of teams approach.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">This
team of teams approach is further reflected in the composition of Calamos&#8217; Investment Committee, made up of the Global CIO,
the Co-CIO team, the Head of Global Trading and the Chief of IT and Operations. Other members of the investment team participate
in Investment Committee meetings in connection with specific investment related issues or topics as deemed appropriate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
structure and composition of the Investment Committee results in a number of benefits, as it:</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 51.1pt"><FONT STYLE="font-size: 10pt">Leads
                                         to broader perspective on investment decisions: multiple viewpoints and areas of expertise
                                         feed into consensus;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Promotes
                                         collaboration between teams; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 47.9pt"><FONT STYLE="font-size: 10pt">Functions
                                         as a think tank with the goal of identifying ways to outperform the market on a risk-adjusted
                                         basis.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
objectives of the Investment Committee are to:</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 89.3pt"><FONT STYLE="font-size: 10pt">Form
                                         the firm&#8217;s top-down macro view, market direction, asset allocation, and sector/country
                                         positioning.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Establish
                                         firm-wide secular and cyclical themes for review.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Review
                                         firm-wide and portfolio risk metrics, recommending changes where appropriate.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Review
                                         firm-wide, portfolio and individual security liquidity constraints.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Evaluate
                                         firm-wide and portfolio investment performance.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Evaluate
                                         firm-wide and portfolio hedging policies and execution.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Evaluate
                                         enhancements to the overall investment process.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">John
P. Calamos, Sr., Founder, Chairman and Global CIO, is responsible for the day-to-day management of the team, bottom-up
research efforts and strategy implementation. R. Matthew Freund, John Hillenbrand, Nick Niziolek, Eli Pars, Dennis Cogan, Jon
Vacko and Joe Wysocki are each Sr. Co-Portfolio Managers.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">For
over 20 years, the Calamos portfolio management team has managed money for their clients in convertible, high yield and global
strategies. Furthermore, Calamos has extensive experience investing in foreign markets through its convertible securities and
high yield securities strategies. Such experience has included investments in established as well as emerging foreign markets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Global CIO, Sr. Co-Portfolio Managers and Co-Portfolio Managers also have responsibility for the day-to-day management of accounts
other than the Fund. Information regarding these other accounts as of October 31, 2020 is set forth below:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 44; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">Other
Accounts Managed and Assets by Account Type as of October 31, 2020:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="5" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Registered
    <BR> Investment <BR> Companies </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="5" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Other
    Pooled <BR> Investment <BR> Vehicles </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="5" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Other
    <BR> Accounts </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Accounts </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Assets </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Accounts </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Assets </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Accounts </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Assets </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: left"> John P. Calamos Sr. </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"> 23 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 24,298,542,870 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"> 5 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 779,395,779 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"> 3,898 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,785,648,129 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> R. Matthew Freund </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 16 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 13,197,112,036 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 1 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 385,576,284 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 3,687 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,656,793,327 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> John Hillenbrand </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 18 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 11,799,182,233 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 5 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 779,395,779 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 3,042 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,270,044,756 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Nick Niziolek </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 10 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 7,456,407,651 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 4 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 393,819,495 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2,620 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,207,310,422 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Eli Pars </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 18 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 22,378,323,990 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 5 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 779,395,779 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2,996 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,187,323,086 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Jon Vacko </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 19 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 12,210,855,267 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 5 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 779,395,779 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 3,015 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,216,739,321 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Joe Wysocki </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 12 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 11,471,636,258 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 4 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 777,032,976 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2,588 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,464,245,772 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Dennis Cogan </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 10 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 7,456,407,651 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 4 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 393,819,495 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2,620 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,207,310,422 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">Number
of Accounts and Assets for which Advisory Fee is Performance Based as of October 31, 2020:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="5" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Registered<BR>
    Investment <BR> Companies </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="5" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Other
    Pooled <BR> Investment <BR> Vehicles </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="5" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Other
    <BR> Accounts </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Accounts </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Assets </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Accounts </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Assets </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Accounts </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Assets </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: left"> John P. Calamos Sr. </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"> 2 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 315,830,459 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"> 0 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"> 0 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> R. Matthew Freund </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> John Hillenbrand </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 315,830,459 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Nick Niziolek </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 315,830,459 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Eli Pars </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 315,830,459 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Jon Vacko </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 315,830,459 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Joe Wysocki </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> Dennis Cogan </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 2 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 315,830,459 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> 0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Each
Co-Portfolio Manager may invest for his own benefit in securities held in brokerage and mutual fund accounts. The information
shown in the table does not include information about those accounts where the Co-Portfolio Manager or members of his family have
a beneficial or pecuniary interest because no advisory relationship exists with Calamos or any of its affiliates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund&#8217;s Co-Portfolio Managers are responsible for managing both the Fund and other accounts, including separate accounts
and funds not required to be registered under the 1940 Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Other
than potential conflicts between investment strategies, the side-by-side management of both the Fund and other accounts may raise
potential conflicts of interest due to the interest held by Calamos in an account and certain trading practices used by the portfolio
managers (e.g., cross-trades between the Fund and another account and allocation of aggregated trades). Calamos has developed
policies and procedures reasonably designed to mitigate those conflicts. For example, Calamos will place cross-trades in securities
held by the Fund only in accordance with the rules promulgated under the 1940 Act and has adopted policies designed to ensure
the fair allocation of securities purchased on an aggregated basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 45; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
allocation methodology employed by Calamos varies depending on the type of securities sought to be bought or sold and the
type of client or group of clients. Generally, however, orders are placed first for those clients that have given Calamos
brokerage discretion (including the ability to step out a portion of trades), and then to clients that have directed Calamos
to execute trades through a specific broker. However, if the directed broker allows Calamos to execute with other brokerage
firms, which then book the transaction directly with the directed broker, the order will be placed as if the client had given
Calamos full brokerage discretion. Calamos and its affiliates frequently use a &#8220;rotational&#8221; method of placing and
aggregating client orders and will build and fill a position for a designated client or group of clients before placing
orders for other clients. A client account may not receive an allocation of an order if: (a) the client would receive an
unmarketable amount of securities based on account size; (b) the client has precluded Calamos from using a particular broker;
(c) the cash balance in the client account will be insufficient to pay for the securities allocated to it at settlement; (d)
current portfolio attributes make an allocation inappropriate; and (e) account specific guidelines, objectives and other
account specific factors make an allocation inappropriate. Allocation methodology may be modified when strict adherence to
the usual allocation is impractical or leads to inefficient or undesirable results. Calamos&#8217; head trader must approve
each instance that the usual allocation methodology is not followed and provide a reasonable basis for such instances and all
modifications must be reported in writing to Calamos&#8217; Chief Compliance Officer on a monthly basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Investment
opportunities for which there is limited availability generally are allocated among participating client accounts pursuant to
an objective methodology (i.e., either on a pro rata basis or using a rotational method, as described above). However, in some
instances, Calamos may consider subjective elements in attempting to allocate a trade, in which case the Fund may not participate,
or may participate to a lesser degree than other clients, in the allocation of an investment opportunity. In considering subjective
criteria when allocating trades, Calamos is bound by its fiduciary duty to its clients to treat all client accounts fairly and
equitably.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Co-Portfolio Managers advise certain accounts under a performance fee arrangement. A performance fee arrangement may create an
incentive for a Co-Portfolio Manager to make investments that are riskier or more speculative than would be the case in the absence
of performance fees. A performance fee arrangement may result in increased compensation to the Co-Portfolio Managers from such
accounts due to unrealized appreciation as well as realized gains in the client&#8217;s account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">As
of October 31, 2020, John P. Calamos, Sr., our Global CIO, aside from distributions arising from his ownership from various entities,
receives all of his compensation from Calamos. He has entered into an employment agreement that provides for compensation in the
form of an annual base salary and an annual bonus, both components payable in cash. Similarly, Mr. Calamos, Sr., is eligible for
a Long-Term Incentive (&#8220;LTI&#8221;). The LTI program at Calamos currently consists of deferred bonus payments, which fluctuate
in value over time based upon either (1) the performance of certain managed investment products for investment professionals (&#8220;Mutual
Fund Incentive Awards&#8221;); or (2) the overall value of the firm for non-investment professionals (&#8220;Company Incentive
Awards&#8221;).</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">As
of October 31, 2020, R. Matthew Freund, John Hillenbrand, Nick Niziolek, Eli Pars, Jon Vacko, Dennis Cogan, and Joe Wysocki receive
all of their compensation from Calamos. These individuals each receive compensation in the form of an annual base salary, a discretionary
bonus (payable in cash) and are eligible for discretionary Mutual Fund Incentive Awards. Additionally, Messrs. Hillenbrand, Niziolek,
and Pars received additional compensation awards in prior years.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
amounts paid to all Co-Portfolio Managers, together with the criteria utilized to determine such amounts, are benchmarked against
industry specific data provided by third party analytical agencies. The Co-Portfolio Managers&#8217; compensation structure considers
annually the performance of the various strategies managed by the Co-Portfolio Managers, among other factors, including, without
limitation, the overall performance of the firm.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">At
October 31, 2020, each portfolio manager beneficially owned (as determined pursuant to Rule 16a-1(a)(2) under the Exchange Act)
shares of the Fund having value within the indicated dollar ranges.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 46; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; width: 69%; font-size: 10pt; text-align: left"><B>Portfolio Manager</B></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 30%; font-size: 10pt"><B>Fund</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">John P. Calamos, Sr.<SUP>(1)</SUP></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; font: 10pt Times New Roman, Times, Serif">$100,001 &ndash; $500,000</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Nick Niziolek</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">None</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dennis Cogan</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">None</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">John Hillenbrand</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">None</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Jon Vacko</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">None</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Joe Wysocki</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">None</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Eli Pars</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">None</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">R. Matthew Freund </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">None</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Pursuant to Rule 16a-1(a)(2)
of the Exchange Act, John P. Calamos, Sr. may be deemed to have indirect beneficial ownership of Fund shares held by Calamos Investments
LLC, its subsidiaries, and its parent companies (Calamos Asset Management, Inc. and Calamos Partners LLC, and its parent company
Calamos Family Partners, Inc.) due to his direct or indirect ownership interest in those entities. As a result, these amounts
reflect any holdings of those entities in addition to the individual, personal accounts of John P. Calamos, Sr.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Fund
Accountant and Administration Arrangements</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Fund has entered into an agreement with Ernst &amp; Young LLP (&#8220;EY&#8221;) located at 155 N. Wacker Drive, Chicago, IL 60606
to provide certain tax services to the Fund. The tax services include the following: calculating, tracking and reporting tax adjustments
on all assets of the Fund, including but not limited to contingent debt and preferred trust obligations; preparing excise tax
and fiscal year distribution schedules; preparing tax information required for financial statement footnotes; preparing state
and federal income tax returns; preparing specialized calculations of amortization on convertible securities; preparing year-end
dividend disclosure information providing treaty-based foreign withholding tax reclaim services; providing certain global compliance
and reporting services; providing a match service and analysis of the &#8220;passive foreign investment company&#8221; status
of foreign corporate entities; and providing services related to corporate actions that may or may not have a tax impact on the
Fund&#8217;s holdings. For the fiscal years ended October 31, 2020, October 31, 2019, and October 31, 2018, the Fund paid EY $52,630,
$48,931, and $0, respectively, for tax services.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Under
the arrangements with State Street Bank and Trust Company (&#8220;State Street&#8221;) located at One Iron Street, Boston, MA
02111 to provide fund accounting services, State Street provides certain administrative and accounting services including providing
daily reconciliation of cash, trades and positions; maintaining general ledger and capital stock accounts; preparing daily trial
balance; calculating net asset value; providing selected general ledger reports; preferred share compliance; calculating total
returns; and providing monthly distribution analysis to the Fund. For the fiscal years ended October 31, 2020, October 31, 2019,
and October 31, 2018, the Fund paid State Street $84,693, $79,226 and $82,471, respectively, for fund accounting services. The
Fund has also entered into an agreement with State Street pursuant to which State Street provides certain administration treasury
services to the Fund. These services include: monitoring the calculation of expense accrual amounts for the Fund and making any
necessary modifications; managing the Fund&#8217;s expenses and expense payment processing; coordinating any expense reimbursement
calculations and payment; calculating net investment income dividends and capital gain distributions; coordinating the audits
for the Fund; preparing financial reporting statements for the Fund; preparing certain regulatory filings; and calculating asset
coverage tests for certain Calamos Funds. For the fiscal years ended October 31, 2020, October 31, 2019 and October 31, 2018,
the Fund paid State Street $93,840, $100,026, and $0, respectively, for administration services. Under a prior agreement for administration
services, the Fund paid the previous service provider $0, $0 and $135,065 for the fiscal years ended October 31, 2020, October
31, 2019 and October 31, 2018, respectively.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 47; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">CERTAIN
SHAREHOLDERS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">At
January 31, 2021, the following persons were known to own beneficially or of record more than 5% of the outstanding securities
of the Fund:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: #231F20; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"> Class
    of Shares </TD><TD STYLE="font-size: 10pt; color: #231F20; font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; font-weight: bold; text-align: center"> Name and
    Address of Beneficial Owner </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Number of<BR>
    Shares <BR> Owned </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Percent
    of<BR>
    Class </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; font-size: 10pt; color: #231F20; width: 40%; vertical-align: top"> Common </TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #231F20"> &nbsp; </TD>
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif; color: #231F20; text-align: left"> National Financial Services
    LLC <BR>
499 Washington Blvd. <BR>Jersey City, NJ 07310 </TD><TD STYLE="width: 1%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 11%; font-size: 10pt; text-align: right"> 8,854,587 </TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 11%; font-size: 10pt; text-align: right"> 12.5 </TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; color: #231F20; text-align: left"> Charles Schwab &amp; Co., Inc.<BR>
    2423 E. Lincoln Drive<BR>
    Phoenix, AZ 85016-1215 </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 6,835,312 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 9.6 </TD><TD STYLE="font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; text-align: left"> Merrill Lynch Pierce Fenner &amp;
    Smith<BR>
 4804 Deer Lake Dr. E. <BR>Jacksonville, FL 32246 </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 6,654,419 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 9.4 </TD><TD STYLE="font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.75pt 0pt 0; color: #231F20"> Morgan
                                         Stanley Smith Barney LLC </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.75pt 0pt 0; color: #231F20"> 1300
                                         Thames Street </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.75pt 0pt 0; color: #231F20"> 6<SUP>th
                                         </SUP>Floor </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.75pt 0pt 0; color: #231F20"> Baltimore,
                                         MD 21231&nbsp; </P></TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 6,107,665 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 8.6 </TD><TD STYLE="font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; text-align: left"> UBS Financial Services Inc. <BR>1000
    Harbor Blvd <BR>Weehawken, NY 07086 </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 5,539,585 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 7.8 </TD><TD STYLE="font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; color: #231F20; text-align: left"> TD Ameritrade <BR>
    200 S. 108th Ave<BR>
    Omaha, NE 68154 </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 4,917,619 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 6.9 </TD><TD STYLE="font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; color: #231F20; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; text-align: left"> Wells Fargo Clearing Services LLC
    <BR>2801 Market Street <BR>H0006-09B <BR>St. Louis, MO <BR>
    63103 </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 4,611,582 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 6.5 </TD><TD STYLE="font-size: 10pt; text-align: left"> % </TD></TR>
</TABLE>


<P STYLE="text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 48; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<!-- Field: Split-Segment; Name: 2 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT>&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"> Class of Shares </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Name and Address of
    Beneficial Owner </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Number of<BR>
    Shares <BR> Owned </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Percent
    of<BR>
    Class </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Series A Mandatory Redeemable Preferred&nbsp;
    Shares </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Massachusetts Mutual Life Insurance </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); width: 40%; font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); width: 2%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); width: 30%; font-size: 10pt"> Company </TD><TD STYLE="background-color: rgb(204,238,255); width: 1%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); width: 11%; font-size: 10pt; text-align: right"> 1,050,000 </TD><TD STYLE="background-color: rgb(204,238,255); width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); width: 1%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); width: 11%; font-size: 10pt; text-align: right"> 78.9 </TD><TD STYLE="background-color: rgb(204,238,255); width: 1%; font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> c/o Barings LLC </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> 1500 Main Street &ndash; Suite 2200 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> P.O. Box 15189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Springfield, MA 0115-5189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Massachusetts Mutual Life Insurance </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 280,000 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 21.1 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> Company </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> c/o Barings LLC </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> 1500 Main Street &ndash; Suite 2200 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> P.O. Box 15189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Springfield, MA 0115-5189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Series B Mandatory Redeemable Preferred
    Shares </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Massachusetts Mutual Life Insurance </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 1,050,000 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 78.9 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif; text-align: left"> Company <BR>c/o
    Barings LLC </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> 1500 Main Street &ndash; Suite 2200 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> P.O. Box 15189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Springfield, MA 0115-5189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Massachusetts Mutual Life Insurance </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 280,000 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 21.1 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> Company </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> c/o Barings LLC </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> 1500 Main Street &ndash; Suite 2200 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> P.O. Box 15189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Springfield, MA 0115-5189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Series C Mandatory Redeemable Preferred
    Shares </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Massachusetts Mutual Life Insurance </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 1,060,000 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 79.1 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> Company </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> c/o Barings LLC </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> 1500 Main Street &ndash; Suite 2200 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> P.O. Box 15189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Springfield, MA 0115-5189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Massachusetts Mutual Life Insurance </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 280,000 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> 20.9 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: center"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Company </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> c/o Barings LLC </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> 1500 Main Street &ndash; Suite 2200 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> P.O. Box 15189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> Springfield, MA 0115-5189 </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="background-color: rgb(204,238,255); font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">At
January 31, 2021, the trustees and officers as a group owned less than one percent of the Fund&#8217;s outstanding common shares.</FONT> </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 49; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">PORTFOLIO
TRANSACTIONS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Portfolio
transactions on behalf of the Fund effected on stock exchanges involve the payment of negotiated brokerage commissions. There
is generally no stated commission in the case of securities traded in the over-the- counter markets, but the price paid by the
Fund usually includes an undisclosed dealer commission or mark-up. In underwritten offerings, the price paid by the Fund includes
a disclosed, fixed commission or discount retained by the underwriter or dealer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
executing portfolio transactions, Calamos seeks to obtain for the Fund the most favorable combination of price and execution available.
In seeking the most favorable combination of price and execution, Calamos considers all factors it deems relevant, including price,
the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction
taking into account market prices and trends, the execution capability of the broker-dealer and the quality of service rendered
by the broker-dealer in other transactions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Trustees have determined that portfolio transactions for the Fund may be executed through CFS, an affiliate of Calamos, if, in
the judgment of Calamos, the use of CFS is likely to result in prices and execution at least as favorable to the Fund as those
available from other qualified brokers and if, in such transactions, CFS charges the Fund commission rates consistent with those
charged by CFS to comparable unaffiliated customers in similar transactions. The Board of Trustees, including a majority of the
Trustees who are not &#8220;interested&#8221; trustees, has adopted procedures that are reasonably designed to provide that any
commissions, fees or other remuneration paid to CFS are consistent with the foregoing standard. The Fund will not effect principal
transactions with CFS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
allocating the Fund&#8217;s portfolio brokerage transactions to unaffiliated broker-dealers, Calamos may take into consideration
the research, analytical, statistical and other information and services provided by the broker- dealer, such as general economic
reports and information, reports or analyses of particular companies or industry groups, market timing and technical information,
and the availability of the brokerage firm&#8217;s analysts for consultation. Although Calamos believes these services have substantial
value, they are considered supplemental to Calamos&#8217; own efforts in the performance of its duties under the management agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Calamos
does not guarantee any broker the placement of a predetermined amount of securities transactions in return for the research or
brokerage services it provides. Calamos has adopted internal procedures which it believes are reasonably designed to allocate
transactions in a manner consistent with its execution policies to brokers that it has identified as providing research, research-related
products or services, or execution-related services of a particular benefit to its clients. Calamos has entered into client commission
agreements (&#8220;CCAs&#8221;) with certain broker-dealers under which the broker-dealers may use a portion of their commissions
to pay third parties or other broker-dealers that provide Calamos with research or brokerage services, as permitted under Section
28(e) of the Exchange Act. CCAs allow Calamos to direct broker-dealers to pool commissions that are generated from orders executed
at that broker-dealer, and then periodically direct the broker-dealer to pay third parties or other broker-dealers for research
or brokerage services. All uses of CCAs by Calamos are subject to applicable law and its best execution obligations. Brokerage
and research products and services furnished by brokers may be used in servicing any or all of the clients of Calamos and such
research may not necessarily be used by Calamos in connection with the accounts which paid commissions to the broker providing
such brokerage and research products and services.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">As
permitted by Section 28(e) of the Exchange Act, Calamos may cause the Fund to pay a broker-dealer that provides brokerage and
research services an amount of commission for effecting a securities transaction for the Fund in excess of the commission that
another broker-dealer would have charged for effecting that transaction if the amount is believed by Calamos to be reasonable
in relation to the value of the overall quality of the brokerage and research services provided. Other clients of Calamos may
indirectly benefit from the provision of these services to Calamos, and the Fund may indirectly benefit from services provided
to Calamos as a result of transactions for other clients.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 50; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund paid $0, $0, and $0 in aggregate brokerage commissions for the fiscal years ended October 31, 2018, October 31, 2019 and
October 31, 2020, including $0, $0, and $0 to CFS, which represented 0%, 0% and 0% of the Fund&#8217;s aggregate brokerage fees
paid for the respective fiscal year, and 0%, 0%, and 0% of the Fund&#8217;s aggregate dollar amount of transactions involving
brokerage commissions for the respective fiscal year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Portfolio
Turnover</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Our
annual portfolio turnover rate may vary greatly from year to year. Although we cannot accurately predict our annual portfolio
turnover rate, it is not expected to exceed 100% annually under normal circumstances. For the fiscal years ended October 31, 2019
and October 31, 2020, the portfolio turnover rate was 51% and 76%, respectively. However, portfolio turnover rate is not considered
a limiting factor in the execution of investment decisions for the Fund, and it is possible that the Fund may exceed this level
of turnover in any given year. A higher turnover rate results in correspondingly greater brokerage commissions and other transactional
expenses that are borne by the Fund. High portfolio turnover also may result in the realization of capital gains or losses and,
to the extent net short-term capital gains are realized, any distributions resulting from such gains will be taxed at ordinary
income tax rates for U.S. federal income tax purposes. See &#8220;Certain Federal Income Tax Matters.&#8221;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">NET
ASSET VALUE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 44.25pt 0pt 0; text-indent: 22.5pt"> <FONT>Net
asset value per share is determined no less frequently than the close of regular session trading on the NYSE (usually 4:00 p.m.,
Eastern time), on the last business day in each week, or such other time as the Fund may determine. The NYSE is regularly closed
on New Year&rsquo;s Day, the third Mondays in January and February, Good Friday, the last Monday in May, Independence Day, Labor
Day, Thanksgiving and Christmas. </FONT>If the NYSE is closed due to weather or other extenuating circumstances on a day it would
typically be open for business, the Fund reserves the right to treat such day as a Business Day and calculate the Fund&rsquo;s
NAV as of the normally scheduled close of regular trading on the NYSE or such other time that the Fund may determine, in accordance
with applicable law. The Fund reserves the right to close if the primary trading markets of the Fund&rsquo;s portfolio instruments
are closed. On any business day when the Securities Industry and Financial Markets Association (&ldquo;SIFMA&rdquo;) recommends
that the securities markets close trading early or when the NYSE closes earlier than scheduled, the Fund may (i) close trading
early (as such, the time as of which the NAV is calculated would be advanced) or (ii) calculate its NAV as of, the normally scheduled
close of regular trading on the NYSE for that day. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 21.75pt 0pt 0; text-indent: 22.5pt; color: #231F20"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 42.45pt 0pt 0; text-indent: 22.5pt"> <FONT>Net
asset value is calculated by dividing the value of all of the securities and other assets of the Fund, less its liabilities (including
accrued expenses and indebtedness) and the aggregate liquidation value of any outstanding preferred shares, by the total number
of common shares outstanding. </FONT>Information that becomes known to the Fund after the time as of which NAV has been calculated
on a particular day will not generally be used to retroactively adjust the price of a security or the NAV determined earlier that
day. If regular trading on the NYSE closes earlier than scheduled, the Fund reserves the right to either (i) calculate its NAV
as of the earlier closing time or (ii) calculate its NAV as of the normally scheduled close of regular trading on the NYSE for
that day. The Fund generally does not calculate its NAV on days during which the NYSE is closed. However, if the NYSE is closed
on a day it would normally be open for business, the Fund reserves the right to calculate its NAV as of the normally scheduled
close of regular trading on the NYSE for that day or such other time that the Fund may determine. <FONT>Because
the Fund may invest in securities that are primarily listed on foreign exchanges and trade on days when the Fund does not price
its shares, the Fund&rsquo;s underlying assets may change in value on days when the NAV is not calculated.</FONT> <FONT STYLE="color: #231F20">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
valuation of the Fund&#8217;s portfolio securities is in accordance with policies and procedures adopted by and under the ultimate
supervision of the Board of Trustees. Securities for which market quotations are readily available will be valued using the market
value of those securities. Securities for which market quotations are not readily available will be fair valued in accordance
with policies and procedures adopted by and under the ultimate supervision of the Board of Trustees. The method by which a security
may be fair valued will depend on the type of security and the circumstances under which the security is being fair valued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Portfolio
securities that are traded on U.S. securities exchanges, except option securities, are valued at the last current reported sales
price at the time the Fund determines its NAV. Securities traded in the over-the- counter market and quoted on The Nasdaq Stock
Market are valued at the Nasdaq Official Closing Price, as determined by Nasdaq, or lacking a Nasdaq Official Closing Price, the
last current reported sale price on Nasdaq at the time the Fund determines its NAV.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">When
a last sale or closing price is not available, equity securities, other than option securities, that are traded on a U.S. securities
exchange and other equity securities traded in the over-the-counter market are valued at the mean between the most recent bid
and asked quotations in accordance with guidelines adopted by the Board of Trustees. Each option security traded on a U.S. securities
exchange is valued at the mid-point of the consolidated bid/ask quote for the option security, also in accordance with guidelines
adopted by the Board of Trustees. Each over-the-counter option that is not traded through the Options Clearing Corporation is
valued based on a quotation provided by the counterparty to such option under the ultimate supervision of the Board of Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Fixed
income securities are generally traded in the over-the-counter market and are valued based on evaluations provided by independent
pricing services or by dealers who make markets in such securities. Valuations of fixed income securities consider yield or price
of bonds of comparable quality, coupon rate, maturity, type of issue, trading characteristics and other market data and do not
rely exclusively upon exchange or over-the-counter prices.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 51; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Trading
on European and Far Eastern exchanges and over-the-counter markets is typically completed at various times before the close of
business on each day on which the NYSE is open. Each security trading on these exchanges or over-the-counter markets may be valued
utilizing a systematic fair valuation model provided by an independent pricing service approved by the Board of Trustees. The
valuation of each security that meets certain criteria in relation to the valuation model is systematically adjusted to reflect
the impact of movement in the U.S. market after the foreign markets close. Securities that do not meet the criteria, or that are
principally traded in other foreign markets, are valued as of the last reported sale price at the time the Fund determines its
NAV, or when reliable market prices or quotations are not readily available, at the mean between the most recent bid and asked
quotations as of the close of the appropriate exchange or other designated time. Trading of foreign securities may not take place
on every NYSE business day. In addition, trading may take place in various foreign markets on Saturdays or on other days when
the NYSE is not open and on which the Fund&#8217;s NAV is not calculated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the pricing committee determines that the valuation of a security in accordance with the methods described above is not reflective
of a market value for such security, the security is valued at a fair value by the pricing committee, under the ultimate supervision
of the Board of Trustees, following the guidelines and/or procedures adopted by the Board of Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund also may use fair value pricing, pursuant to guidelines adopted by the Board of Trustees and under the ultimate supervision
of the Board of Trustees, if trading in the security is halted or if the value of a security it holds is materially affected by
events occurring before the Fund&#8217;s pricing time but after the close of the primary market or exchange on which the security
is listed. Those procedures may utilize valuations furnished by pricing services approved by the Board of Trustees, which may
be based on market transactions for comparable securities and various relationships between securities that are generally recognized
by institutional traders, a computerized matrix system, or appraisals derived from information concerning the securities or similar
securities received from recognized dealers in those securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">When
fair value pricing of securities is employed, the prices of securities used by the Fund to calculate its NAV may differ from market
quotations or official closing prices. In light of the judgment involved in fair valuations, there can be no assurance that a
fair value assigned to a particular security is accurate.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">REPURCHASE
OF COMMON SHARES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund is a closed-end investment company and as such its shareholders will not have the right to cause the Fund to redeem their
shares. Instead, the Fund&#8217;s common shares trade in the open market at a price that is a function of several factors, including
dividend levels (which are in turn affected by expenses), net asset value, call protection, dividend stability, relative demand
for and supply of such shares in the market, general market and economic conditions and other factors. Because shares of a closed-end
investment company may frequently trade at prices lower than net asset value, the Fund&#8217;s Board of Trustees may consider
action that might be taken to reduce or eliminate any material discount from net asset value in respect of common shares, which
may include the repurchase of such shares in the open market or in private transactions, the making of a tender offer for such
shares, or the conversion of the Fund to an open-end investment company. The Board of Trustees may decide not to take any of these
actions. In addition, there can be no assurance that share repurchases or tender offers, if undertaken, will reduce market discount.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Notwithstanding
the foregoing, at any time when the Fund&#8217;s preferred shares are outstanding, the Fund may not purchase, redeem or
otherwise acquire any of its common shares unless (1) all accumulated preferred shares dividends have been paid and (2) at
the time of such purchase, redemption or acquisition, the net asset value of the Fund&#8217;s portfolio (determined after
deducting the acquisition price of the common shares) is at least 200% of the liquidation value of the outstanding preferred
shares (expected to equal the original purchase price per share plus any accrued and unpaid dividends thereon). Any service
fees incurred in connection with any tender offer made by the Fund will be borne by the Fund and will not reduce the stated
consideration to be paid to tendering shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 52; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Subject
to its investment restrictions, the Fund may borrow to finance the repurchase of shares or to make a tender offer. Interest on
any borrowings to finance share repurchase transactions or the accumulation of cash by the Fund in anticipation of share repurchases
or tenders will reduce the Fund&#8217;s net income. Any share repurchase, tender offer or borrowing that might be approved by
the Fund&#8217;s Board of Trustees would have to comply with the Exchange Act, the 1940 Act and the rules and regulations thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Although
the decision to take action in response to a discount from net asset value will be made by the Board of Trustees at the time it
considers such issue, it is not currently anticipated that the Board of Trustees would authorize repurchases of common shares
or a tender offer for such shares if: (1) such transactions, if consummated, would (a) result in the delisting of the common shares
from Nasdaq, or (b) impair the Fund&#8217;s status as a regulated investment company under the Code (which would make the Fund
a taxable entity, causing the Fund&#8217;s income to be taxed at the corporate level in addition to the taxation of shareholders
who receive dividends from the Fund) or as a registered closed-end investment company under the 1940 Act; (2) the Fund would not
be able to liquidate portfolio securities in an orderly manner and consistent with the Fund&#8217;s investment objective and policies
in order to repurchase shares; or (3) there is, in the board&#8217;s judgment, any (a) material legal action or proceeding instituted
or threatened challenging such transactions or otherwise materially adversely affecting the Fund, (b) general suspension of or
limitation on prices for trading securities on Nasdaq, (c) declaration of a banking moratorium by federal or state authorities
or any suspension of payment by United States or New York banks, (d) material limitation affecting the Fund or the issuers of
its portfolio securities by federal or state authorities on the extension of credit by lending institutions or on the exchange
of foreign currency, (e) commencement of war, armed hostilities or other international or national calamity directly or indirectly
involving the United States, or (f) other event or condition which would have a material adverse effect (including any adverse
tax effect) on the Fund or its shareholders if shares were repurchased.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
repurchase by the Fund of its shares at prices below net asset value will result in an increase in the net asset value of those
shares that remain outstanding. However, there can be no assurance that share repurchases or tender offers at or below net asset
value will result in the Fund&#8217;s shares trading at a price equal to their net asset value. Nevertheless, the fact that the
Fund&#8217;s shares may be the subject of repurchase or tender offers from time to time, or that the Fund may be converted to
an open-end investment company, may reduce any spread between market price and net asset value that might otherwise exist.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
addition, a purchase by the Fund of its common shares will decrease the Fund&#8217;s total managed assets which would likely have
the effect of increasing the Fund&#8217;s expense ratio. Any purchase by the Fund of its common shares at a time when preferred
shares are outstanding will increase the leverage applicable to the outstanding common shares then remaining.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Before
deciding whether to take any action if the common shares trade below net asset value, the Fund&#8217;s Board of Trustees would
likely consider all relevant factors, including the extent and duration of the discount, the liquidity of the Fund&#8217;s portfolio,
the impact of any action that might be taken on the Fund or its shareholders and market considerations. Based on these considerations,
even if the Fund&#8217;s shares should trade at a discount, the Board of Trustees may determine that, in the interest of the Fund
and its shareholders, no action should be taken.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">CERTAIN
FEDERAL INCOME TAX MATTERS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
following is a summary discussion of certain U.S. federal income tax consequences that may be relevant to a shareholder or a
noteholder (as the case may be) that acquires, holds and/or disposes of the Fund&#8217;s securities. This discussion only
addresses certain U.S. federal income tax consequences to U.S. shareholders and noteholders (as the case may be) who hold
their Fund securities as capital assets and does not address all of the U.S. federal income tax consequences that may be
relevant to particular shareholders and noteholders (as the case may be) in light of their individual circumstances. This
discussion also does not address all U.S. federal, state, local and foreign tax concerns affecting the Fund and its
shareholders and noteholders (including shareholders and noteholders subject to special tax rules and shareholders owning
large positions in the Fund), and the discussion set forth herein does not constitute tax advice. The discussion reflects
applicable tax laws of the United States as of the date of this Statement of Additional Information, which tax laws may be
changed or subject to new interpretations by the courts or the Internal Revenue Service (&#8220;IRS&#8221;) retroactively or
prospectively. No assurance can be given that the IRS would not assert, or that a court would not sustain, a position
different from any of the tax aspects set forth below. The specific terms of preferred shares and debt securities may result
in different tax consequences to holders than those described herein. No attempt is made to present a detailed explanation of
all U.S. federal income tax concerns affecting the Fund and its shareholders and noteholders, and the discussion set forth
herein does not constitute tax advice. <B>Investors are urged to consult their own tax advisers to determine the specific tax
consequences to them of investing in the Fund, including the applicable federal, state, local and foreign tax consequences to
them and the effect of possible changes in tax laws.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 53; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Federal
Income Taxation of the Fund</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Fund has elected to be treated, and intends to qualify and to be eligible to be treated each year, as a &#8220;regulated investment
company&#8221; under Subchapter M of the Code, so that it will not pay U.S. federal income tax on investment company taxable income
and capital gains timely distributed to shareholders. If the Fund qualifies as a regulated investment company and distributes
to its shareholders at least 90% of the sum of (i) its &#8220;investment company taxable income&#8221; as that term is defined
in the Code (which includes, among other things, dividends, taxable interest, the excess of any net short-term capital gains over
net long-term capital losses, taking into account certain capital loss carryforwards, and certain net foreign currency exchange
gains, less certain deductible expenses) without regard to the deduction for dividends paid and (ii) the excess of its gross tax-
exempt interest, if any, over certain disallowed deductions, the Fund will be relieved of U.S. federal income tax on any income
of the Fund, including long-term capital gains, distributed to shareholders. However, if the Fund retains any investment company
taxable income or &#8220;net capital gain&#8221; (i.e., the excess of net long-term capital gain over the sum of net short-term
capital loss and certain capital loss carryforwards), it will be subject to U.S. federal income tax at regular corporate rates
on the amount retained. The Fund intends to distribute at least annually, all or substantially all of its investment company taxable
income, net tax-exempt interest, if any, and net capital gain.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
determining its net capital gain, its taxable income, and its earnings and profits, a regulated investment company generally may
elect to treat part or all of any post-October capital loss (defined as any net capital loss attributable to the portion, if any,
of the taxable year after October 31 or, if there is no such loss, the net long- term capital loss or net short-term capital loss
attributable to any such portion of the taxable year) or late-year ordinary loss (generally, the sum of (i) net ordinary loss,
if any, from the sale, exchange or other taxable disposition of property, attributable to the portion, if any, of the taxable
year after October 31, and its (ii) other net ordinary loss, if any, attributable to the portion of the taxable year, if any,
after December 31) as if incurred in the succeeding taxable year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Capital
losses in excess of capital gains (&#8220;net capital losses&#8221;) are not permitted to be deducted against the Fund&#8217;s
net investment income. Instead, potentially subject to certain limitations, the Fund may carry net capital losses from any taxable
year forward to subsequent taxable years without expiration to offset capital gains, if any, realized during such subsequent taxable
years. Capital loss carryforwards are reduced to the extent they offset current-year net realized capital gains, whether the Fund
retains or distributes such gains. The Fund must apply such carryforwards first against gains of the same character.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">If
for any taxable year the Fund did not qualify as a regulated investment company for U.S. federal income tax purposes, it would
be treated in the same manner as a regular corporation subject to U.S. federal income tax and distributions to its shareholders
would not be deductible by the Fund in computing its taxable income. In such event, the Fund&#8217;s distributions, to the extent
derived from the Fund&#8217;s current and accumulated earnings and profits, would generally constitute ordinary dividends, which
would generally be eligible for the dividends received deduction available to corporate shareholders under Section 243 of the
Code, and noncorporate shareholders of the Fund would generally be able to treat such distributions as &#8220;qualified dividend
income&#8221; eligible for reduced rates of federal income taxation under Section 1(h)(11) of the Code, as described below, provided
holding period and other requirements are met. The Fund could be required to recognize unrealized gains, pay substantial taxes
and interest and make substantial distributions before re-qualifying as a regulated investment company that is accorded special
tax treatment. If the Fund failed to qualify for a period greater than two taxable years, it would also be required to elect to
recognize and pay tax on any net built-in gain (the excess of aggregate gain, including items of income, over aggregate loss that
would have been realized if the Fund had been liquidated) or, alternatively, be subject to taxation on such built-in gain recognized
for a period of five years.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 54; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Under
the Code, the Fund will be subject to a nondeductible 4% federal excise tax on its undistributed ordinary income for a calendar
year and its undistributed capital gains for the one-year period generally ending on October 31 of such calendar year if it fails
to meet certain distribution requirements with respect to that year. Generally the excise tax applies to the extent the Fund fails
to distribute by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any
capital gain or loss) for the calendar year and (ii) 98.2% of its capital gains in excess of its capital losses (adjusted for
certain ordinary losses). In addition, the minimum amounts that must be distributed in any year to avoid the excise tax will be
increased or decreased to reflect the total amount of any under-distribution or over-distribution, as the case may be, from the
previous year. For purposes of the required excise tax distribution, a regulated investment company&#8217;s ordinary gains and
losses from the sale, exchange, or other taxable disposition of property that would otherwise be taken into account after October
31 generally are treated as arising on January 1 of the following calendar year. Also, for purposes of the excise tax, the Fund
will be treated as having distributed any amount on which it is subject to corporate income tax for the taxable year ending within
the calendar year. The Fund intends to generally make distributions in a timely manner and in an amount sufficient to avoid such
tax and accordingly does not expect to be subject to this excise tax.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
order to qualify as a regulated investment company under Subchapter M of the Code, the Fund must, among other things, derive
at least 90% of its gross income for each taxable year from (i) dividends, interest, payments with respect to securities
loans, gains from the sale or other disposition of stock, securities or foreign currencies, or other income (including gains
from options, futures and forward contracts) derived with respect to its business of investing in such stock, securities or
currencies and (ii) net income derived from interests in certain publicly traded partnerships that derive less than 90% of
their gross income from the items described in (i) above (each, a &#8220;Qualified Publicly Traded Partnership&#8221;) (the
 &#8220;90% income test&#8221;). For purposes of the 90% income test, the character of income earned by certain entities in
which the Fund invests that are not treated as corporations for U.S. federal income tax purposes will generally pass through
to the Fund. Consequently, the Fund may be required to limit its equity investments in certain such entities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
addition to the 90% income test, the Fund must also diversify its holdings (the &#8220;asset test&#8221;) so that, at the end
of each quarter of its taxable year (i) at least 50% of the market value of the Fund&#8217;s total assets is represented by cash
and cash items, U.S. government securities, securities of other regulated investment companies and other securities, with such
other securities of any one issuer limited for the purposes of this calculation to an amount not greater in value than 5% of the
value of the Fund&#8217;s total assets and to not more than 10% of the outstanding voting securities of such issuer, and (ii)
not more than 25% of the market value of its total assets is invested, including through corporations in which the Fund owns a
20% or more voting stock interest, in the securities (other than U.S. government securities or securities of other regulated investment
companies) of any one issuer or of two or more issuers controlled by the Fund and engaged in the same, similar or related trades
or businesses or in the securities of one or more Qualified Publicly Traded Partnerships.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Foreign
exchange gains and losses realized by the Fund in connection with certain transactions involving foreign currency-denominated
debt securities, certain options and futures contracts relating to foreign currency, foreign currency forward contracts, foreign
currencies, or payables or receivables denominated in a foreign currency are subject to Section 988 of the Code, which generally
causes such gains and losses to be treated as ordinary income and losses and may affect the amount, timing and character of distributions
to shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 55; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the Fund acquires any equity interest (generally including not only stock but also an option to acquire stock such as is inherent
in a convertible bond) in certain foreign corporations that receive at least 75% of their annual gross income from passive sources
(such as interest, dividends, certain rents and royalties, or capital gains) or that hold at least 50% of their assets in investments
held for the production of such passive income (&#8220;passive foreign investment companies&#8221;), the Fund could be subject
to U.S. federal income tax and additional interest charges on &#8220;excess distributions&#8221; received from such companies
or on gain from the sale of equity interests in such companies, even if all income or gain actually received by the Fund is timely
distributed to its shareholders. These investments could also result in the treatment as ordinary income of associated gains on
a sale of the investment. The Fund would not be able to pass through to its shareholders any credit or deduction for such tax.
Tax elections may generally be available that would ameliorate these adverse tax consequences, but any such election could require
the Fund to recognize taxable income or gain (which would be subject to the distribution requirements described above) without
the concurrent receipt of cash. The Fund may limit and/or manage its holdings in passive foreign investment companies to limit
its U.S. federal income tax liability or maximize its return from these investments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the Fund invests in certain pay-in-kind securities, zero coupon securities, deferred interest securities or, in general, any other
securities with original issue discount (&#8220;OID&#8221;) (or with market discount if the Fund elects to include market discount
in income currently), the Fund must accrue income on such investments for each taxable year, which generally will be prior to
the receipt of the corresponding cash payments. However, the Fund must distribute, at least annually, all or substantially all
of its investment company taxable income, including such accrued income, to shareholders to avoid U.S. federal income and excise
taxes. Therefore, the Fund may have to dispose of its portfolio securities under disadvantageous circumstances to generate cash,
or may have to leverage itself by borrowing the cash, to satisfy distribution requirements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund may acquire market discount bonds. A market discount bond is a security acquired in the secondary market at a price below
its stated redemption price at maturity (or its adjusted issue price if it is also an OID bond). If the Fund invests in a market
discount bond, it will be required to treat any gain recognized on the disposition of such market discount bond as ordinary income
(instead of capital gain) to the extent of the accrued market discount, unless the Fund elects to include the market discount
in income as it accrues as discussed above. Such market discount will not constitute qualified dividend income.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund may invest to a significant extent in debt obligations that are in the lowest rating categories or are unrated, including
debt obligations of issuers not currently paying interest or who are in default. Investments in debt obligations that are at risk
of or in default present special tax issues for the Fund. The U.S. federal income tax laws are not entirely clear about issues
such as when the Fund may cease to accrue interest, OID or market discount, when and to what extent deductions may be taken for
bad debts or worthless securities and how payments received on obligations in default should be allocated between principal and
income. These and other related issues will be addressed by the Fund when, as and if it invests in such securities, in order to
ensure that it distributes sufficient income to preserve its status as a regulated investment company and does not become subject
to U.S. federal income or excise taxes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Very
generally, where the Fund purchases a bond at a price that exceeds the stated redemption price at maturity &#8212; that is, at
a premium &#8212; the premium is amortizable over the remaining term of the bond. In the case of a taxable bond, if the Fund makes
an election applicable to all such bonds it purchases, which election is irrevocable without consent of the IRS, the Fund reduces
the current taxable income from the bond by the amortized premium and reduces its tax basis in the bond by the amount of such
offset; upon the disposition or maturity of such bonds, the Fund is permitted to deduct any remaining premium allocable to a prior
period. In the case of a tax-exempt bond, tax rules require the Fund to reduce its tax basis by the amount of amortized premium.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
interest on municipal bonds is generally exempt from U.S. federal income tax. The Fund does not expect to invest 50% or more
of its assets in municipal bonds on which the interest is exempt from U.S. federal income tax, or in interests in other
regulated investment companies. As a result, it does not expect to be eligible to pay &#8220;exempt-interest dividends&#8221;
to its shareholders under the applicable tax rules. As a result, interest on municipal bonds is taxable to shareholders of
the Fund when received as a distribution from the Fund. In addition, gains realized by the Fund on the sale or exchange of
municipal bonds are taxable to shareholders of the Fund when distributed to them.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 56; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Certain
of the Fund&#8217;s other investments may cause the Fund to recognize income without the corresponding receipt of cash, which
could result in the Fund being required to dispose of its portfolio securities under disadvantageous circumstances to generate
cash or leverage itself by borrowing cash to satisfy distribution requirements and to avoid entity-level tax.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may engage in various transactions in options, futures contracts, forward contracts, hedging instruments, straddles,
swaps and other similar transactions. In addition to the special rules described below, such transactions may be subject to
special provisions of the Code that, among other things, affect the character of any income realized by the Fund from such
investments, accelerate recognition of income to the Fund, defer Fund losses, affect the holding period of the Fund&#8217;s
securities, affect whether distributions will be eligible for the dividends received deduction or be treated as qualified
dividend income and affect the determination of whether capital gain and loss is characterized as long-term or short-term
capital gain or loss. These rules could therefore affect the character, amount and timing of distributions to shareholders.
These provisions may also require the Fund to &#8220;mark-to-market&#8221; certain types of the positions in its portfolio
(i.e., treat them as if they were closed out), which may cause the Fund to recognize income without receiving cash with which
to make distributions in amounts necessary to satisfy the distribution requirements for avoiding U.S. federal income and
excise taxes. Because these and other tax rules applicable to these types of transactions are in some cases uncertain under
current law, an adverse determination or future guidance by the IRS with respect to these rules (which determination or
guidance could be retroactive) may affect whether the Fund has made sufficient distributions, and otherwise satisfied the
relevant requirements, to maintain its qualification as a regulated investment company and avoid a Fund-level tax. The Fund
will monitor its transactions and will make the appropriate entries in its books and records when it acquires an option,
futures contract, forward contract, hedge instrument, swap or other similar investment, and if the Fund deems it advisable,
will make appropriate elections in order to mitigate the effect of these rules, prevent disqualification of the Fund as a
regulated investment company and minimize the imposition of U.S. federal income and excise taxes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Certain
of the Fund&#8217;s investments in derivative instruments and foreign currency denominated instruments, and any of the Fund&#8217;s
transactions in foreign currencies and hedging activities, are likely to produce a difference between its book income and the
sum of its taxable income (including realized capital gains) and net tax-exempt income (if any). If such a difference arises and
the Fund&#8217;s book income is less than the sum of its taxable income (including realized capital gains) and net tax-exempt
income (if any), the Fund could be required to make distributions exceeding book income to qualify as a regulated investment company
that is accorded special tax treatment and to avoid a Fund-level tax. If the Fund&#8217;s book income exceeds the sum of its taxable
income (including realized capital gains) and net tax-exempt income (if any), the distribution (if any) of such excess generally
will be treated as (i) a dividend to the extent of the Fund&#8217;s remaining current and accumulated earnings and profits (including
earnings and profits arising from tax-exempt income), if any, (ii) thereafter, as a return of capital to the extent of the recipient&#8217;s
adjusted tax basis in its shares and (iii) thereafter, as gain from the sale or exchange of a capital asset.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
general, option premiums received by the Fund are not immediately included in the income of the Fund. Instead, the premiums
are recognized when the option contract expires, the option is exercised by the holder, or the Fund transfers or otherwise
terminates the option (e.g., through a closing transaction). If a call option written by the Fund is exercised and the Fund
sells or delivers the underlying stock, the Fund generally will recognize capital gain or loss equal to (a) the sum of the
strike price and the option premium received by the Fund minus (b) the Fund&#8217;s basis in the stock. Such gain or loss
generally will be short-term or long-term depending upon the holding period of the underlying stock. If securities are
purchased by the Fund pursuant to the exercise of a put option written by it, the Fund generally will subtract the premium
received for purposes of computing its cost basis in the securities purchased. The termination of the Fund&#8217;s obligation
under an option other than through the exercise of the option will result in gain or loss, depending on whether the premium
income received by the Fund is greater or less than the amount paid by the Fund (if any) in terminating the transaction.
Subject to certain exceptions, some of which are described below, such gain or loss generally will be short-term. Thus, for
example, if an option written by the Fund expires unexercised, the Fund generally will recognize short-term gain equal to the
premium received.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 57; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Fund&#8217;s options activities may include transactions constituting straddles for U.S. federal income tax purposes, that is,
that trigger the U.S. federal income tax straddle rules contained primarily in Section 1092 of the Code. Such straddles include,
for example, positions in a particular security, or an index of securities, and one or more options that offset the former position,
including options that are &#8220;covered&#8221; by the Fund&#8217;s long position in the subject security. Very generally, where
applicable, Section 1092 requires (i) that losses be deferred on positions deemed to be offsetting positions with respect to &#8220;substantially
similar or related property,&#8221; to the extent of unrealized gain in the latter, and (ii) that the holding period of such a
straddle position that has not already been held for the long-term holding period be terminated and begin anew once the position
is no longer part of a straddle. Options on single stocks that are not &#8220;deep in the money&#8221; may constitute qualified
covered calls, which generally are not subject to the straddle rules; the holding period on stock underlying qualified covered
calls that are &#8220;in the money&#8221; although not &#8220;deep in the money&#8221; will be suspended during the period that
such calls are outstanding. These straddle rules and the rules governing qualified covered calls could cause gains that would
otherwise constitute long-term capital gains to be treated as short-term capital gains, and distributions that would otherwise
constitute &#8220;qualified dividend income&#8221; or qualify for the dividends received deduction to fail to satisfy the holding
period requirements and therefore to be taxed as ordinary income or to fail to qualify for the dividends received deduction, as
the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">The
Fund&#8217;s transactions in certain investments (including broad based equity index options and certain other futures contracts)
are generally considered &#8220;Section 1256 contracts&#8221; for federal income tax purposes. Any unrealized gains or losses
on such Section 1256 contracts are treated as though they were realized at the end of each taxable year. The resulting gain or
loss is treated as sixty percent long-term capital gain or loss and forty percent short-term capital gain or loss, although certain
foreign currency gains and losses from such contracts may be treated as ordinary in character. Gain or loss recognized on actual
sales of Section 1256 contracts is treated in the same manner. As noted below, distributions of net short-term capital gain are
taxable to shareholders as ordinary income while distributions of net long-term capital gain that are properly reported as capital
gain dividends are taxable to shareholders as long-term capital gain, regardless of how long the shareholder has held shares of
the Fund.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund&#8217;s entry into a short sale transaction, an option or certain other contracts could be treated as the constructive sale
of an appreciated financial position, causing the Fund to realize gain, but not loss, on the position.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Any
investment by the Fund in equity securities of REITs may result in the Fund&#8217;s receipt of cash in excess of the
REIT&#8217;s earnings; if the Fund distributes these amounts, these distributions could constitute a return of capital to
Fund shareholders for U.S. federal income tax purposes. Dividends received by the Fund from a REIT will not qualify for the
corporate dividends-received deduction and generally will not constitute qualified dividend income. The Fund may invest in
REITs that hold residual interests in real estate mortgage investment conduits (&#8220;REMICs&#8221;). Under a notice issued
by the IRS, a portion of the Fund&#8217;s income from a REIT that is attributable to the REIT&#8217;s residual interest in a
REMIC (referred to in the Code as an &#8220;excess inclusion&#8221;) will be subject to U.S. federal income tax in all
events. This notice also provides that excess inclusion income of a regulated investment company, such as the Fund, will be
allocated to shareholders of the regulated investment company in proportion to the dividends received by such shareholders,
with the same consequences as if the shareholders held the related REMIC residual interest directly. In general, excess
inclusion income allocated to shareholders (i) cannot be offset by net operating losses (subject to a limited exception for
certain thrift institutions), (ii) will constitute unrelated business taxable income (&#8220;UBTI&#8221;) to entities
(including a qualified pension plan, an individual retirement account, a 401(k) plan, a Keogh plan or other tax-exempt
entity) subject to federal income tax on unrelated business income, thereby potentially requiring such an entity that is
allocated excess inclusion income, and otherwise might not be required to file a federal income tax return, to file a tax
return and pay tax on such income, and (iii) in the case of a foreign shareholder, will not qualify for any reduction in U.S.
federal withholding tax. In addition, special tax consequences apply to charitable remainder trusts (&#8220;CRTs&#8221;) that
invest in regulated investment companies that invest directly or indirectly in residual interests in REMICs. Under
legislation enacted in December 2006, a CRT, as defined in Section 664 of the Code, that realizes any UBTI for a taxable
year, must pay an excise tax annually of an amount equal to such UBTI. Under IRS guidance issued in 2006, a CRT will not
recognize UBTI solely as a result of investing in a regulated investment company that recognizes &#8220;excess inclusion
income.&#8221; Rather, if at any time during any taxable year a CRT (or one of certain other tax-exempt shareholders, such as
the United States, a state or political subdivision, or an agency or instrumentality thereof, and certain energy
cooperatives) is a record holder of a share in a regulated investment company that recognizes &#8220;excess inclusion
income,&#8221; then the regulated investment company will be subject to a tax on that portion of its &#8220;excess inclusion
income&#8221; for the taxable year that is allocable to such shareholders at the highest federal corporate income tax rate.
The extent to which this IRS guidance remains applicable in light of the December 2006 legislation is unclear. To the extent
permitted under the 1940 Act, the Fund may elect to specially allocate any such tax to the applicable CRT, or other
shareholder, and thus reduce such shareholder&#8217;s distributions for the year by the amount of the tax that relates to
such shareholder&#8217;s interest in the Fund. The Fund has not yet determined whether such an election will be made. CRTs
and other tax-exempt shareholders are urged to consult their tax advisers concerning the consequences of investing in the
Fund. The Fund does not intend to invest in REITs in which a substantial portion of the assets will consist of residual
interests in REMICs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 58; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund may be subject to withholding and other taxes imposed by foreign countries, including taxes on interest, dividends and capital
gains with respect to its investments in those countries, which would, if imposed, reduce the yield on or return from those investments.
If more than 50% of the value of the Fund&#8217;s assets at the close of the taxable year consists of stock or securities of foreign
corporations, the Fund may make an election under the Code to pass through such taxes to shareholders of the Fund. If the Fund
is eligible to and makes such an election, shareholders will generally be able (subject to applicable limitations under the Code)
to claim a credit or deduction (but not both) on their federal income tax return for, and will be required to treat as part of
the amounts distributed to them, their pro rata portion of the income taxes paid by the Fund to foreign countries. If the Fund
makes such an election, it will provide relevant information to its shareholders. If such an election is not made, shareholders
will not be required to include such taxes in their gross incomes and will not be entitled to a tax deduction or credit for such
taxes on their own federal income tax returns. Each prospective investor is urged to consult its tax adviser regarding taxation
of foreign securities in the Fund&#8217;s portfolio and any available foreign tax credits with respect to the prospective investor&#8217;s
own situation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Common
Shares and Preferred Shares</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Common
Share Distributions</I>. Unless a shareholder is ineligible to participate or elects otherwise, all distributions on common shares
will be automatically reinvested in additional common shares of the Fund pursuant to the Automatic Dividend Reinvestment Plan
(the &#8220;Dividend Reinvestment Plan&#8221;). For U.S. federal income tax purposes, dividends are generally taxable whether
a shareholder takes them in cash or they are reinvested pursuant to the Dividend Reinvestment Plan in additional shares of the
Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">Distributions
of investment company taxable income (determined without regard to the deduction for dividends paid), which includes
dividends, taxable interest, net short-term capital gain in excess of net long-term capital loss, taking into account certain
capital loss carryforwards and certain net foreign currency exchange gains, are, except as discussed below, taxable as
ordinary income to the extent of the Fund&#8217;s current and accumulated earnings and profits. A portion of such dividends
may qualify for the dividends received deduction available to corporations under Section 243 of the Code and the reduced rate
of taxation under Section 1(h)(11) of the Code that applies to qualified dividend income received by noncorporate
shareholders. In general, dividends of net investment income received by corporate shareholders of the Fund qualify for the
dividends received deduction generally available to corporations only to the extent of the amount of eligible dividends
received by the Fund from domestic corporations (other than REITs) for the taxable year. Qualified dividend income received
by noncorporate shareholders is taxed at rates equivalent to long-term capital gain tax rates. Qualified dividend income
generally includes dividends from domestic corporations and dividends from foreign corporations that meet certain specified
criteria, although dividends paid by REITs will not generally be eligible for treatment as qualified dividend income. The
Fund generally can pass the tax treatment of dividends eligible for the dividends received deduction and qualified dividend
income it receives through to Fund shareholders. For the Fund to receive tax-advantaged dividend income, the Fund must meet
certain holding period requirements with respect to the stock on which the dividend is paid. In addition, the Fund cannot be
obligated to make payments (pursuant to a short sale or otherwise) with respect to substantially similar or related property.
Similar provisions, including holding period requirements, apply to each shareholder&#8217;s investment in the Fund.
Moreover, the dividends received deduction may otherwise be disallowed or reduced by application of various provisions of the
Code (for instance, the dividends received deduction is reduced in the case of a dividend received on debt-financed portfolio
stock (generally, stock acquired with borrowed funds)).</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Distributions
of net capital gain, if any, that are properly reported as capital gain dividends are generally taxable as long-term capital gains
for U.S. federal income tax purposes without regard to the length of time the shareholder has held shares of the Fund. The IRS
and the Department of the Treasury have issued regulations that impose special rules in respect of capital gain dividends received
through partnership interests constituting &#8220;applicable partnership interests&#8221; under Section 1061 of the Code. A distribution
of an amount in excess of the Fund&#8217;s current and accumulated earnings and profits, if any, will be treated by a shareholder
as a tax-free return of capital which is applied against and reduces the shareholder&#8217;s basis in his or her shares. Such
distributions represent a return of the investor&#8217;s capital to the extent of his or her basis in the shares. To the extent
that the amount of any such distribution exceeds the shareholder&#8217;s basis in his or her shares, the excess will be treated
by the shareholder as gain from the sale or exchange of shares. The U.S. federal income tax status of all distributions will be
reported to the shareholders annually.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Distributions
by the Fund to its shareholders that the Fund properly reports as &#8220;section 199A dividends,&#8221; as defined and subject
to certain conditions described below, are treated as qualified REIT dividends in the hands of non-corporate shareholders. Non-corporate
shareholders are permitted a federal income tax deduction equal to 20% of qualified REIT dividends received by them, subject to
certain limitations. Very generally, a &#8220;section 199A dividend&#8221; is any dividend or portion thereof that is attributable
to certain dividends received by a regulated investment company from REITs, to the extent such dividends are properly reported
as such by the regulated investment company in a written notice to its shareholders. A section 199A dividend is treated as a qualified
REIT dividend only if the shareholder receiving such dividend holds the dividend-paying regulated investment company shares for
at least 46 days of the 91-day period beginning 45 days before the shares become ex-dividend, and is not under an obligation to
make related payments with respect to a position in substantially similar or related property. The Fund is permitted to report
such part of its dividends as section 199A dividends as are eligible, but is not required to do so.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">If
the Fund retains any net capital gain, the Fund may report the retained amount as undistributed capital gains to shareholders
who, if subject to U.S. federal income tax on long-term capital gains, (i) will be required to include in income, as long-term
capital gain, their proportionate share of such undistributed amount, and (ii) will be entitled to credit their proportionate
share of the federal income tax paid by the Fund on the undistributed amount against their U.S. federal income tax liabilities,
if any, and to claim refunds to the extent the credit exceeds such liabilities. If the Fund makes this designation, for U.S. federal
income tax purposes, the tax basis of shares owned by a shareholder of the Fund will be increased by the difference between the
amount of undistributed net capital gain included in the shareholder&#8217;s gross income and the federal income tax deemed paid
by the shareholder.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
a shareholder&#8217;s distributions are automatically reinvested pursuant to the Dividend Reinvestment Plan and the plan agent
invests the distribution in shares acquired on behalf of the shareholder in open-market purchases, for U.S. federal income tax
purposes, the shareholder will be treated as having received a taxable distribution in the amount of the cash dividend that the
shareholder would have received if the shareholder had elected to receive cash. If a shareholder&#8217;s distributions are automatically
reinvested pursuant to the Dividend Reinvestment Plan and the plan agent invests the distribution in newly issued shares of the
Fund, the shareholder will generally be treated as receiving a taxable distribution equal to the fair market value of the shares
the shareholder receives.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 59; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">At
the time of an investor&#8217;s purchase of the Fund&#8217;s shares, a portion of the purchase price may be attributable to unrealized
appreciation in the Fund&#8217;s portfolio or undistributed taxable income of the Fund. Consequently, subsequent distributions
by the Fund with respect to these shares from such appreciation or income may be taxable to such investor even if the net asset
value of the investor&#8217;s shares is, as a result of the distributions, reduced below the investor&#8217;s cost for such shares
and the distributions economically represent a return of a portion of the investment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Any
dividend declared by the Fund in October, November or December with a record date in such a month and paid during the following
January will be treated for U.S. federal income tax purposes as paid by the Fund and received by shareholders on December 31 of
the calendar year in which it is declared.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Preferred
Share Distributions</I>. Under present law and based in part on the fact that there is and will be no express or implied agreement
between or among a broker-dealer or any other party, and the Fund or any owners of preferred shares, that the broker-dealer or
any other party will guarantee or otherwise arrange to ensure that an owner of preferred shares will be able to sell his or her
shares, the Fund has treated, and intends to continue to treat, the preferred shares as equity for federal income tax purposes.
As such, distributions with respect to the preferred shares (other than distributions in redemption of the preferred shares subject
to Section 302(b) of the Code) will generally constitute dividends to the extent of the Fund&#8217;s current and accumulated earnings
and profits, as calculated for U.S. federal income tax purposes. Except in the case of net capital gain distributions, such dividends
generally will be taxable at ordinary income tax rates to holders of preferred shares but may qualify for the dividends received
deduction available to corporate shareholders under Section 243 of the Code and the reduced rates of federal income taxation that
apply to qualified dividend income received by noncorporate shareholders under Section 1(h)(11) of the Code. Distributions reported
by the Fund as net capital gain distributions will be taxable as long-term capital gain regardless of the length of time a shareholder
has held shares of the Fund. Please see the discussion above on qualified dividend income, dividends received deductions and net
capital gain.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
character of the Fund&#8217;s income will not affect the amount of dividends which the holders of preferred shares are entitled
to receive. If the preferred shares are auction rate securities, holders of preferred shares are entitled to receive only the
amount of dividends as determined by periodic auctions. For U.S. federal income tax purposes, the IRS requires that a regulated
investment company that has two or more classes of shares allocate to each such class proportionate amounts of each type of its
income (such as ordinary income and net capital gain) for each tax year. Accordingly, the Fund intends to report distributions
made with respect to the common shares and preferred shares as consisting of particular types of income (e.g., net capital gain
and ordinary income), in accordance with each class&#8217;s proportionate share of the total dividends paid to both classes. Thus,
each year the Fund will report dividends qualifying for the corporate dividends received deduction, qualified dividend income,
ordinary income and net capital gains in a manner that allocates such income between the preferred shares and common shares in
proportion to the total dividends made to each class with respect to such taxable year, or otherwise as required by applicable
law. In addition, solely for the purpose of satisfying the 90% distribution requirement and the distribution requirement for avoiding
income taxes, certain distributions made after the close of a taxable year of the Fund may be &#8220;spilled back&#8221; and treated
as paid during such taxable year. In such case, shareholders will be treated as having received such dividends in the taxable
year in which the distribution was actually made. The Fund intends to treat any dividends that are paid following the close of
a taxable year as &#8220;paid&#8221; in the prior year for purposes of determining a class&#8217;s proportionate share of a particular
type of income. The IRS has ruled privately that dividends paid following the close of the taxable year that are treated for federal
income tax purposes as derived from income from the prior year will be treated as dividends &#8220;paid&#8221; in the prior year
for purposes of determining the proportionate share of a particular type of income for each class. The private ruling is not binding
on the IRS, and there can be no assurance that the IRS will respect such treatment. Each shareholder will be notified of the allocation
within 60 days after the end of the year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Although
the Fund is required to distribute annually at least 90% of its investment company taxable income (determined without regard
to the deduction for dividends paid), the Fund is not required to distribute net capital gains to the shareholders. The Fund
may retain and reinvest such gains and pay federal income taxes on such gains (the &#8220;net undistributed capital
gain&#8221;). Please see the discussion above on undistributed capital gains. The Fund intends to distribute its net capital
gain for any year during which it has preferred shares outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 60; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Although
dividends generally will be treated as distributed when paid, dividends declared in October, November or December with a record
date in such a month, and paid in January of the following year, will be treated as having been distributed by the Fund and received
by the shareholders on December 31 of the year in which the dividend was declared.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Earnings
and profits are generally treated, for federal income tax purposes, as first being used to pay distributions on preferred shares,
and then to the extent remaining, if any, to pay distributions on the common shares. Distributions in excess of current and accumulated
earnings and profits of the Fund are treated first as return of capital to the extent of the shareholder&#8217;s basis in the
shares and, after the adjusted basis is reduced to zero, will be treated as capital gain to a shareholder who holds such shares
as a capital asset.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the Fund utilizes leverage through borrowings, or otherwise, asset coverage limitations imposed by the 1940 Act as well as additional
restrictions that may be imposed by certain lenders on the payment of dividends or distributions potentially could limit or eliminate
the Fund&#8217;s ability to make distributions on its common shares and/or preferred shares until the asset coverage is restored.
These limitations could prevent the Fund from distributing at least 90% of its investment company taxable income as is required
under the Code and therefore might jeopardize the Fund&#8217;s qualification as a regulated investment company and/or might subject
the Fund to a nondeductible 4% federal excise tax. Upon any failure to meet the asset coverage requirements imposed by the 1940
Act, the Fund may, in its sole discretion and to the extent permitted under the 1940 Act, purchase or redeem preferred shares
in order to maintain or restore the requisite asset coverage and avoid the adverse consequences to the Fund and its shareholders
of failing to meet the distribution requirements. There can be no assurance, however, that any such action would achieve these
objectives. The Fund will endeavor to avoid restrictions on its ability to distribute dividends.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I>Sales
of Fund Shares</I>. Sales and other dispositions of the Fund&#8217;s shares, including a repurchase by the Fund of its shares,
generally are taxable events for shareholders that are subject to federal income tax. Selling shareholders will generally recognize
gain or loss in an amount equal to the difference between the amount received for such shares and their adjusted tax basis in
the shares sold. If such shares are held as a capital asset at the time of sale, the gain or loss will generally be a long-term
capital gain or loss if the shares have been held for more than one year and, if not held for such period, a short-term capital
gain or loss. Similarly, a repurchase by the Fund, including as a result of a tender offer by the Fund, if any, of all of the
shares (common and preferred) actually and constructively held by a shareholder generally will give rise to capital gain or loss
under Section 302(b) of the Code if the shareholder does not own (and is not regarded under certain federal income tax law rules
of constructive ownership as owning) any other common or preferred shares of the Fund and provided that the proceeds from the
purchase do not represent declared but unpaid dividends. If the Fund repurchases fewer than all of a shareholder&#8217;s common
shares or a shareholder continues to hold (directly or by attribution) other Fund shares (including preferred shares if then outstanding)
subsequent to a Fund repurchase, in certain circumstances such shareholder may be treated as having received a distribution under
Section 301 of the Code (&#8220;Section 301 distribution&#8221;) unless the repurchase is treated as being either (i) &#8220;substantially
disproportionate&#8221; with respect to such shareholder or (ii) otherwise &#8220;not essentially equivalent to a dividend&#8221;
under the relevant rules of the Code. A Section 301 distribution is not treated as a sale or exchange giving rise to capital gain
or loss, but rather is treated as a dividend to the extent supported by the Fund&#8217;s current and accumulated earnings and
profits, with the excess treated as a return of capital reducing the shareholder&#8217;s tax basis in its Fund shares, and thereafter
as capital gain. Where a selling shareholder is treated as receiving a dividend, there is a risk that non-selling shareholders
whose percentage interests in the Fund increase as a result of such repurchase will be treated as having received a taxable distribution
from the Fund. The extent of such risk will vary depending upon the particular circumstances of the repurchase, in particular
whether such repurchase is a single and isolated event or is part of a plan for periodically repurchasing the common shares of
the Fund; if isolated, any such risk is likely remote.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 61; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Gain
or loss will generally be long-term capital gain or loss if the shares disposed of were held for more than one year and will be
short-term capital gain or loss if the shares disposed of were held for one year or less. Net long-term capital gain recognized
by a noncorporate U.S. shareholder generally will be subject to federal income tax at a lower rate than net short-term capital
gain or ordinary income. For corporate holders, capital gain is generally taxed for federal income tax purposes at the same rate
as ordinary income. A holder&#8217;s ability to deduct capital losses may be limited.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Any
loss realized by a shareholder upon the sale or other disposition of shares with a tax holding period of six months or less will
be treated as a long-term capital loss to the extent of any amounts treated as distributions of long-term capital gain with respect
to such shares. Losses on sales or other dispositions of shares may be disallowed under &#8220;wash sale&#8221; rules in the event
a shareholder acquires, or is treated as acquiring, substantially identical stock or securities (including Fund shares acquired
pursuant to the reinvestment of dividends) within a period of 61 days beginning 30 days before and ending 30 days after a sale
or other disposition of shares. In such a case, the disallowed portion of any loss generally would be included in the U.S. federal
income tax basis of the shares acquired. Shareholders should consult their own tax advisers regarding their individual circumstances
to determine whether any particular transaction in the Fund&#8217;s shares is properly treated as a sale for U.S. federal income
tax purposes and the tax treatment of any gains or losses recognized in such transactions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Upon
the dissolution of the Fund, shareholders generally will realize capital gain or loss in an amount equal to the difference between
the amount of cash or other property received by the shareholder (including any property deemed received by reason of its being
placed in a liquidating trust) and the shareholder&#8217;s adjusted tax basis in shares of the Fund for U.S. federal income tax
purposes. Any such gain or loss will be long-term if the shareholder is treated as having a holding period in Fund shares of greater
than one year, and otherwise will be short-term.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Federal
Income Tax Withholding</I>. Federal law requires that the Fund withhold, as &#8220;backup withholding,&#8221; a percentage of
reportable payments, including dividends, capital gain distributions and the proceeds of sales or other dispositions of the Fund&#8217;s
shares paid to shareholders who have not complied with IRS regulations. In order to avoid this withholding requirement, shareholders
must certify on their account applications, or on a separate IRS Form W-9, that the social security number or other taxpayer identification
number they provide is their correct number and that they are not currently subject to backup withholding, or that they are exempt
from backup withholding. The Fund may nevertheless be required to backup withhold if it receives notice from the IRS or a broker
that the number provided is incorrect or backup withholding is applicable. Backup withholding is not an additional tax. Any amounts
withheld from payments made to a shareholder may be refunded or credited against such shareholder&#8217;s U.S. federal income
tax liability, if any, provided that the required information is furnished to the IRS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Other
Matters</I>. Treasury regulations provide that if a shareholder recognizes a loss with respect to shares of $2 million or more
in a single taxable year (or $4 million or more in any combination of taxable years in which the transaction is entered into and
the five succeeding taxable years) for a shareholder who is an individual, S corporation or trust or $10 million or more for a
corporate shareholder in any single taxable year (or $20 million or more in any combination of taxable years in which the transaction
is entered into and the five succeeding taxable years), the shareholder must file with the IRS a disclosure statement on Form
8886. Direct shareholders of portfolio securities are in many cases excepted from this reporting requirement, but under current
guidance, shareholders of a regulated investment company are not excepted. Future guidance may extend the current exception from
this reporting requirement to shareholders of most or all regulated investment companies. The fact that a loss is reportable under
these regulations does not affect the legal determination of whether the taxpayer&#8217;s treatment of the loss is proper. Shareholders
should consult their tax advisers to determine the applicability of these regulations in light of their individual circumstances.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Special
tax rules apply to investments through defined contribution plans and other tax-qualified plans. Shareholders should consult
their tax advisers to determine the suitability of shares of the Fund as an investment through such plans and the precise
effect of an investment on their particular tax situation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 62; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Taxation
of Non-U.S. Shareholders. </I>The description of certain federal income tax provisions above relates only to U.S. federal
income tax consequences for shareholders who are U.S. persons (i.e., U.S. citizens or resident aliens or U.S. corporations,
partnerships, trusts or estates who are subject to U.S. federal income tax on a net income basis). Investors other than U.S.
persons, including non-resident alien individuals, may be subject to different U.S. federal income tax treatment. With
respect to such persons, the Fund must generally withhold U.S. federal withholding tax at the rate of 30% (or, if the Fund
receives certain certifications from such non-U.S. shareholder, such lower rate as prescribed by an applicable tax treaty) on
amounts treated as ordinary dividends from the Fund. However, the Fund is not required to withhold tax on any amounts paid to
a non-U.S. person with respect to capital gain dividends (that is, distributions of net capital gain that are properly
reported by the Fund as capital gain dividends), dividends attributable to &#8220;qualified short-term gain&#8221; (i.e., the
excess of net short-term capital gain over net long-term capital loss) reported as such by the Fund and dividends
attributable to certain U.S. source interest income of types similar to those not subject to federal withholding tax if
earned directly by a non-U.S. person, provided such amounts are properly reported by the Fund. <B>Shareholders should consult
their own tax advisers on these matters and on any specific question of U.S. federal, state, local, foreign and other
applicable tax laws before making an investment in the Fund.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Debt
Securities</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Under
present law, the Fund intends to treat the debt securities as indebtedness for federal income tax purposes, which treatment the
discussion below assumes. We intend to treat all payments made with respect to the debt securities consistent with this characterization.
The following discussion assumes that all interest on the debt securities will be qualified stated interest (which is generally
interest that is unconditionally payable at least annually at a fixed or qualified floating rate), and that the debt securities
will have a fixed maturity date of more than one year from the date of issuance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I>Taxation
of Interest. </I>Payments or accruals of interest on debt securities generally will be taxable to holders as ordinary interest
income at the time such interest is received (actually or constructively) or accrued, in accordance with the holder&#8217;s regular
method of accounting for federal income tax purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I>Purchase,
Sale and Redemption of Debt Securities. </I>Initially, a holder&#8217;s tax basis in debt securities acquired generally will be
equal to the cost to acquire such debt securities. This basis will be increased by the amounts, if any, that the holder includes
in income under the rules governing OID (taking into account any acquisition premium that offsets such OID) and market discount,
and will be decreased by the amount of any amortized premium on such debt securities, as discussed below, and any payments on
such debt securities other than stated interest. When the holder sells, exchanges or redeems any of its debt securities, or otherwise
disposes of its debt securities in a taxable transaction, the holder generally will recognize gain or loss equal to the difference
between the amount realized on the transaction (less any accrued and unpaid interest (including any OID), which will be subject
to federal income tax as interest in the manner described above) and the tax basis in the debt securities relinquished.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Except
as discussed below with respect to market discount, the gain or loss recognized on the sale, exchange, redemption or other taxable
disposition of any debt securities generally will be capital gain or loss. Such gain or loss will generally be long-term capital
gain or loss if the disposed debt securities were held for more than one year and will be short-term capital gain or loss if the
disposed debt securities were held for one year or less. Net long-term capital gain recognized by a noncorporate U.S. holder generally
will be subject to federal income tax at a lower rate than net short-term capital gain or ordinary income. For corporate holders,
capital gain is generally taxed for federal income tax purposes at the same rate as ordinary income. A holder&#8217;s ability
to deduct capital losses may be limited.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 63; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Amortizable
Premium. </I>If a holder purchases debt securities at a cost greater than their stated redemption price at maturity, plus
accrued interest, the holder will be considered to have purchased the debt securities at a premium, and generally may elect
to amortize this premium as an offset to interest income, using a constant yield method, over the remaining term of the debt
securities. If the holder makes the election to amortize the premium, it generally will apply to all debt instruments held at
the beginning of the first taxable year to which the election applies, as well as any debt instruments that were subsequently
acquired. In addition, the holder may not revoke the election without the consent of the IRS. If the holder elects to
amortize the premium, it will be required to reduce its tax basis in the debt securities by the amount of the premium
amortized during its holding period. If the holder does not elect to amortize premium, the amount of premium will be included
in the holder&#8217;s tax basis in the debt securities. Therefore, if the holder does not elect to amortize the premium and
holds the debt securities to maturity, the holder generally will be required to treat the premium as a capital loss when the
debt securities are redeemed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I>Original
Issue Discount. </I>If the stated redemption price at maturity of the debt securities exceeds their issue price by at least
the statutory <I>de minimis </I>amount, the debt securities will be treated as being issued with OID for U.S. federal income
tax purposes. The stated redemption price at maturity includes all payments on the debt securities other than qualified
stated interest, which is generally interest that is unconditionally payable at least annually at a fixed or qualified
floating rate. If the debt securities are issued with OID, you will be required to include such OID in gross income (as
ordinary income) as it accrues over the term of the debt securities on a constant-yield basis, in advance of the receipt of
cash attributable to that income and regardless of your regular method of accounting for U.S. federal income tax
purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Acquisition
Premium. </I>If a holder purchases debt securities that were issued with OID at a cost greater than their issue price and less
than or equal to their stated redemption price at maturity, the holder will be considered to have purchased the debt securities
with acquisition premium. Such holder will generally be permitted to reduce the daily portions of OID required to be included
in income by a fraction, the numerator of which is the excess of the holder&#8217;s initial basis in the debt securities over
the debt securities&#8217; issue price, and the denominator of which is the excess of the redemption price at maturity of the
debt securities over their issue price.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Market
Discount. </I>If the holder purchases debt securities in the secondary market at a price that reflects a &#8220;market discount,&#8221;
any principal payments on, or any gain that the holder realized on the disposition of, the debt securities generally will be treated
as ordinary interest income to the extent of the market discount that accrued on the debt securities during the time such debt
securities were held. &#8220;Market discount&#8221; is defined under the Code as, in general, the excess (subject to a statutory
de minimis amount) of the stated redemption price at maturity (or in the case of an obligation issued with OID, its &#8220;revised
issue price&#8221;) over the purchase price of the debt security. In addition, the holder may be required to defer the deduction
of all or a portion of any interest paid on any indebtedness incurred or continued to purchase or carry the debt securities that
were acquired at a market discount.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
holder may elect to include market discount in gross income currently as it accrues (on either a ratable or constant yield basis),
in lieu of treating a portion of any gain realized on a sale of the debt securities as ordinary income. If the holder elects to
include market discount on a current basis, the interest deduction deferral rule described above will not apply and the holder
will increase its basis in the debt security by the amount of market discount included in gross income. If the holder does make
such an election, it will apply to all market discount debt instruments acquired on or after the first day of the first taxable
year to which the election applies. This election may not be revoked without the consent of the IRS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Information
Reporting and Backup Withholding</I>. In general, information reporting requirements will apply to payments of principal,
interest, and premium, if any, paid on debt securities and to the proceeds of the sale of debt securities paid to U.S.
holders other than certain exempt recipients (such as certain corporations) provided they establish such exemption.
Information reporting generally will apply to payments of interest on the debt securities to non-U.S. Holders (as defined
below) and the amount of tax, if any, withheld with respect to such payments. Copies of the information returns reporting
such interest payments and any withholding may also be made available to the tax authorities in the country in which the
non-U.S. Holder resides under the provisions of an applicable income tax treaty. In addition, for non-U.S. Holders,
information reporting will apply to the proceeds of the sale of debt securities within the United States or conducted through
United States-related financial intermediaries unless the certification requirements described below have been complied with
and the statement described below in &#8220;Taxation of Non-U.S. Holders&#8221; has been received (and the payor does not
have actual knowledge or reason to know that the holder is a United States person) or the holder otherwise establishes an
exemption.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 64; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">We
may be required to withhold, for U.S. federal income tax purposes, a portion of all payments (including redemption proceeds) payable
to holders of debt securities who fail to provide us with their correct taxpayer identification number, who fail to make required
certifications or who have been notified by the IRS that they are subject to backup withholding (or if we have been so notified).
Certain corporate and other shareholders specified in the Code and the regulations thereunder are exempt from backup withholding.
Backup withholding is not an additional tax. Any amounts withheld may be credited against the holder&#8217;s U.S. federal income
tax liability, provided the appropriate information is furnished to the IRS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">A
holder who is a non-U.S. Holder may have to comply with certification procedures to establish its non-U.S. status in order to
avoid backup withholding tax requirements. The certification procedures required to claim the exemption from withholding tax on
interest income described below with respect to non-U.S. Holders will satisfy these requirements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Taxation
of Non-U.S. Holders</I>. If a holder is a non-resident alien individual or a foreign corporation (a &#8220;non-U.S. Holder&#8221;),
the payment of interest on the debt securities generally will be considered &#8220;portfolio interest&#8221; and thus generally
will be exempt from U.S. federal withholding tax. This exemption will apply to the holder provided that (1) interest paid on the
debt securities is not effectively connected with the holder&#8217;s conduct of a trade or business in the United States, (2)
the holder is not a bank whose receipt of interest on the debt securities is described in Section 881(c)(3)(A) of the Code, (3)
the holder does not actually or constructively own 10 percent or more of the combined voting power of all classes of our stock
entitled to vote, (4) the holder is not a controlled foreign corporation that is related, directly or indirectly, to us through
stock ownership, and (5) the holder satisfies the certification requirements described below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">To
satisfy the certification requirements, either (1) the holder of any debt securities must certify, under penalties of perjury,
that such holder is a non-U.S. person and must provide such owner&#8217;s name, address and taxpayer identification number, if
any, on IRS Form W-8BEN or W-8BEN-E, or (2) a securities clearing organization, bank or other financial institution that holds
customer securities in the ordinary course of its trade or business and holds the debt securities on behalf of the holder thereof
must certify, under penalties of perjury, that it has received a valid and properly executed IRS Form W-8BEN or W-8BEN-E from
the beneficial holder and comply with certain other requirements. Special certification rules apply for debt securities held by
a foreign partnership and other intermediaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Interest
on debt securities received by a non-U.S. Holder that is not excluded from U.S. federal withholding tax under the portfolio interest
exemption as described above generally will be subject to withholding at a 30% rate, except where (1) the interest is effectively
connected with the conduct of a U.S. trade or business, in which case the interest will be subject to U.S. income tax on a net
basis at graduated rates as applicable to U.S. holders generally (and, in the case of corporate non-U.S. Holders, may be subject
to an additional 30% branch profits tax) or (2) a non-U.S. Holder can claim the benefits of an applicable income tax treaty to
reduce or eliminate such withholding tax. To claim the benefit of an income tax treaty or to claim an exemption from withholding
because the interest is effectively connected with a U.S. trade or business, a non-U.S. Holder must timely provide the appropriate,
properly executed IRS forms. These forms may be required to be periodically updated. Also, a non-U.S. Holder who is claiming the
benefits of an income tax treaty may be required to obtain a U.S. taxpayer identification number and to provide certain documentary
evidence issued by foreign governmental authorities to prove residence in the foreign country.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">Any
capital gain that a non-U.S. Holder realizes on a sale, exchange or other disposition of debt securities generally will be exempt
from U.S. federal income tax, including withholding tax. This exemption will not apply to a holder whose gain is effectively connected
with the conduct of a trade or business in the U.S. or who is an individual holder and is present in the U.S. for a period or
periods aggregating 183 days or more in the taxable year of the disposition and, in each case, certain other conditions are met.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">See
 &#8220;Information Reporting and Backup Withholding&#8221; above for a general discussion of information reporting and backup
withholding requirements applicable to non-U.S. Holders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 65; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Other
Tax Matters</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Medicare
Tax on Certain Investment Income. </I>Certain noncorporate taxpayers are subject to an additional tax of 3.8% with respect to
the lesser of (1) their &#8220;net investment income&#8221; (or undistributed &#8220;net investment income&#8221; in the case
of an estate or trust) or (2) the excess of their &#8220;modified adjusted gross income&#8221; over a threshold amount ($250,000
for married persons filing jointly and $200,000 for single taxpayers). For this purpose, &#8220;net investment income&#8221; includes
interest, dividends (including dividends paid with respect to shares), annuities, royalties, rent, net gain attributable to the
disposition of property not held in a trade or business (including net gain from the sale, exchange or other taxable disposition
of shares) and certain other income, but will be reduced by any deductions properly allocable to such income or net gain.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Other
Reporting and Withholding Requirements. </I>Sections 1471-1474 of the Code and the U.S. Treasury and IRS guidance issued thereunder
(collectively, &#8220;FATCA&#8221;) generally require the Fund to obtain information sufficient to identify the status of each
of its shareholders and holders of its debt securities under FATCA or under an applicable intergovernmental agreement (an &#8220;IGA&#8221;)
between the United States and a foreign government. If a shareholder or holder of debt securities fails to provide the required
information or otherwise fails to comply with FATCA or an IGA, the Fund may be required to withhold under FATCA at a rate of 30%
with respect to that holder on ordinary dividends and interest payments. The IRS and the Department of Treasury have issued proposed
regulations providing that these withholding rules will not be applicable to the gross proceeds of share redemptions or capital
gains dividends that the Fund pays. If a payment by the Fund is subject to FATCA withholding, the Fund is required to withhold
even if such payment would otherwise be exempt from withholding under the rules applicable to non-U.S. persons. Each prospective
investor is urged to consult its tax adviser regarding the applicability of FATCA and any other reporting requirements with respect
to the prospective investor&#8217;s own situation, including investments through an intermediary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Shareholders
that are U.S. persons and own, directly or indirectly, more than 50% of the Fund could be required to report annually their &#8220;financial
interest&#8221; in the Fund&#8217;s &#8220;foreign financial accounts,&#8221; if any, on FinCEN Form 114, Report of Foreign Bank
and Financial Accounts (FBAR). Shareholders should consult a tax adviser regarding the applicability to them of this reporting
requirement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Alternative
Minimum Tax</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Investors
may be subject to the federal alternative minimum tax on their income (including taxable income from the Fund), depending on their
individual circumstances.&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">CUSTODIAN,
TRANSFER AGENT, DIVIDEND DISBURSING AGENT AND REGISTRAR</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund&#8217;s securities and cash are held under a custodian agreement with State Street Bank and Trust Company, 100 Lincoln Street,
Boston, Massachusetts 02111. The transfer agent, dividend disbursing agent and registrar for the Fund&#8217;s shares is Computershare
Investor Services, P.O. Box 505000, Louisville, KY 40233- 5000.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Deloitte
 &amp; Touche LLP, 111 S. Wacker Drive, Chicago, IL 60606, serves as our independent registered public accounting firm. Deloitte
 &amp; Touche LLP provides audit and audit-related services and consultation in connection with the review of our filing with the
SEC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Page; Sequence: 66; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Split-Segment; Name: 3 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">ADDITIONAL
INFORMATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">A
Registration Statement on Form N-2, including amendments thereto, relating to the securities offered hereby, has been filed by
the Fund with the SEC, Washington, D.C. The prospectus, any prospectus supplement and this Statement of Additional Information
do not contain all of the information set forth in the Registration Statement, including any exhibits and schedules thereto. For
further information with respect to the Fund and the securities offered hereby, reference is made to the Registration Statement.
Statements contained in the prospectus, prospectus supplement and this Statement of Additional Information as to the contents
of any contract or other document referred to are not necessarily complete and in each instance reference is made to the copy
of such contract or other document filed as an exhibit to the Registration Statement, each such statement being qualified in all
respects by such reference. A copy of the Registration Statement may be reviewed on the SEC&#8217;s website at http://www.sec.gov.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">ADDITIONAL
INFORMATION CONCERNING THE AGREEMENT AND DECLARATION OF TRUST</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Fund&#8217;s Agreement and Declaration of Trust provides that the Fund&#8217;s Trustees shall have the power to cause each shareholder
to pay directly, in advance or arrears, for charges of the Fund&#8217;s custodian or transfer, shareholder servicing or similar
agent, an amount fixed from time to time by the Trustees, by setting off such charges due from such shareholder from declared
but unpaid dividends owed such shareholder and/or by reducing the number of shares in the account of such shareholder by that
number of full and/or fractional shares which represents the outstanding amount of such charges due from such shareholder. The
Fund has no present intention of relying on this provision of the Agreement and Declaration of Trust and would only do so if consistent
with the 1940 Act or the rules and regulations or interpretations of the SEC thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 67; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>Financial
Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in; background-color: white"> <FONT STYLE="font-size: 10pt">The
Fund&#8217;s financial statements, including the notes thereto, appearing in the Fund&#8217;s annual shareholder report for the year ended October 31, 2020
are incorporated by reference in this Statement of Additional Information and have been so incorporated in reliance upon the reports
of Deloitte &amp; Touche LLP, independent registered public accounting firm for the Fund, which report is included in such annual
shareholder reports and is incorporated by reference herein.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in; background-color: white"> <FONT STYLE="font-size: 10pt">The
annual shareholder report is available without charge on its website at <U>www.calamos.com</U> or by request in writing to the
Fund at 2020 Calamos Court, Naperville, IL 60564.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">You
may obtain copies of any information incorporated by reference into this Statement of Additional Information, at no charge, by
calling toll-free 800.582.6959 or by writing to the Fund at 2020 Calamos Court, Naperville, IL 50463. The Fund&#8217;s periodic
reports filed pursuant to Section 30(b)(2) of the 1940 Act and Sections 13 and 15(d) of the Exchange Act, as well as the prospectus
and this Statement of Additional Information, are available on the Fund&#8217;s website http://www.calamos.com. In addition, the
Commission maintains a website at www.sec.gov, free of charge, that contains these reports, the Fund&#8217;s proxy statement and
information statements, and other information relating to the Fund.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 68; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>APPENDIX
A &#8211;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>SUMMARY
OF CERTAIN PROVISIONS OF THE INDENTURE AND FORM OF SUPPLEMENTAL INDENTURE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
following is a summary of certain provisions of the indenture (the &#8220;Original Indenture&#8221;) and the supplemental indenture
(&#8220;Supplemental Indenture&#8221;) that the Fund expects to enter into in connection with the issuance of debt securities.
This summary does not purport to be complete and is qualified in its entirety by reference to the indenture, a copy of which will
be filed with the Commission in connection with an offering of debt securities by the Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">DEFINITIONS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>&#8216;AA&#8217;
Composite Commercial Paper Rate</B>&#8221; on any date means (i) the interest equivalent of (1) the 7-day rate, in the case
of a Rate Period which is 7 days or shorter, (2) the 30-day rate, in the case of a Rate Period which is a Standard Rate
Period greater than 7 days but fewer than or equal to 31 days, or (3) the 180-day rate, in the case of all other Rate
Periods, on financial commercial paper on behalf of issuers whose corporate bonds are rated &#8220;AA&#8221; by S&amp;P, or
the equivalent of such rating by another nationally recognized rating agency, as announced by the Federal Reserve Bank of New
York for the close of business on the Business Day immediately preceding such date; or (ii) if the Federal Reserve Bank of
New York does not make available such a rate, then the arithmetic average of the interest equivalent of such rates on
financial commercial paper placed on behalf of such issuers, as quoted on a discount basis or otherwise by the Commercial
Paper Dealers to the Auction Agent for the close of business on the Business Day immediately preceding such date (rounded to
the next highest .001 of 1%). If any Commercial Paper Dealer does not quote a rate required to determine the &#8220;AA&#8221;
Composite Commercial Paper Rate, such rate shall be determined on the basis of the quotations (or quotation) furnished by the
remaining Commercial Paper Dealers (or Dealer), if any, or, if there are no such Commercial Paper Dealers, a nationally
recognized dealer in commercial paper of such issues then making such quotations selected by the Issuer. For purposes of this
definition, (A) &#8220;Commercial Paper Dealers&#8221; shall mean
(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and ; (2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in lieu of any thereof, its respective
Affiliate or successor; and (3) in the event that any of the foregoing shall cease to quote rates for financial commercial
paper of issuers of the sort described above, in substitution therefor, a nationally recognized dealer in financial
commercial paper of such issuers then making such quotations selected by the Issuer, and (B) &#8220;interest
equivalent&#8221; of a rate stated on a discount basis for financial commercial paper of a given number of days&#8217;
maturity shall mean a number equal to the quotient (rounded upward to the next higher one-thousandth of 1%) of (1) such rate
expressed as a decimal, divided by (2) the difference between (x) 1.00 and (y) a fraction, the numerator of which shall be
the product of such rate expressed as a decimal, multiplied by the number of days in which such commercial paper shall mature
and the denominator of which shall be 360.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Affiliate</B>&#8221;
means any person controlled by, in control of or under common control with the Issuer; provided that no Broker-Dealer controlled
by, in control of or under common control with the Issuer shall be deemed to be an Affiliate nor shall any corporation or any
person controlled by, in control of or under common control with such corporation one of the directors or executive officers of
which is also a Director of the Issuer be deemed to be an Affiliate solely because such director or executive officer is also
a Director of the Issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Agent
Member</B>&#8221; means a member of or participant in the Securities Depository that will act on behalf of a Bidder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>All
Hold Rate</B>&#8221; means 80% of the &#8220;AA&#8221; Composite Commercial Paper Rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Applicable
Rate</B>&#8221; means the rate determined in accordance with the procedures in Section 2.02(c)(i) of this Supplemental Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Auction</B>&#8221;
means each periodic implementation of the Auction Procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 69; Options: NewSection -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Auction
Agent</B>&#8221; means&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;unless and until another commercial bank, trust company, or other financial institution appointed
by a resolution of the Board of Directors enters into an agreement with the Issuer to follow the Auction Procedures for the
purpose of determining the Applicable Rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Auction
Agreement</B>&#8221; means the agreement between the Auction Agent and the Issuer pursuant to which the Auction Agent agrees to
follow the procedures specified in Appendix A-I to this Supplemental Indenture, as such agreement may from time to time be amended
or supplemented.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Auction
Date</B>&#8221; means the first Business Day next preceding the first day of a Rate Period for each series of Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Auction
Desk</B>&#8221; means the business unit of a Broker-Dealer that fulfills the responsibilities of the Broker- Dealer under a Broker-Dealer
Agreement, including soliciting Bids for the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, and units of the Broker-Dealer which are not separated by information controls
appropriate to control, limit and monitor the inappropriate dissemination of information about Bids.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Auction
Period</B>&#8221; means with respect to the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, either a Standard Auction Period or a Special Auction Period, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Auction
Procedures</B>&#8221; means the procedures for conducting Auctions set forth in Appendix A-I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Auction
Rate</B>&#8221; means for each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes for
each Auction Period, (i) if Sufficient Clearing Bids exist, the Winning Bid Rate, provided, however, if all of the Notes are
the subject of Submitted Hold Orders, the All Hold Rate for such series of Notes and (ii) if Sufficient Clearing Bids do not
exist, the Maximum Rate for such series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Authorized
Denomination</B>&#8221; means $25,000 and any integral multiple thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Available&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes</B>&#8221;
means for each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes on each Auction Date, the number of Units of Notes of such series that are not the subject of
Submitted Hold Orders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Beneficial
Owner</B>,&#8221; with respect to each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, means a customer of a Broker-Dealer who is listed on the records of
that Broker-Dealer (or, if applicable, the Auction Agent) as a holder of such series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Bid</B>&#8221;
shall have the meaning specified in Appendix A-I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Bidder</B>&#8221;
means each Beneficial Owner, Potential Beneficial Owner and Broker Dealer who places an Order.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Board
of Directors</B>&#8221; or &#8220;<B>Board</B>&#8221; means the Board of Directors of the Issuer or any duly authorized committee
thereof as permitted by applicable law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Broker-Dealer</B>&#8221;
means any broker-dealer or broker-dealers, or other entity permitted by law to perform the function required of a Broker-Dealer
by the Auction Procedures, that has been selected by the Issuer and that is a party to a Broker-Dealer Agreement with the Auction
Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Broker-Dealer
Agreement</B>&#8221; means an agreement between the Auction Agent and a Broker-Dealer, pursuant to which such Broker-Dealer agrees
to follow the Auction Procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Broker-Dealer
Deadline</B>&#8221; means, with respect to an Order, the internal deadline established by the Broker-Dealer through which the
Order was placed after which it will not accept Orders or any change in any Order previously placed with such Broker-Dealer;
provided, however, that nothing shall prevent the Broker- Dealer from correcting Clerical Errors by the Broker-Dealer with
respect to Orders from Bidders after the Broker-Dealer Deadline pursuant to the provisions herein. Any Broker-Dealer may
change the time or times of its Broker-Dealer Deadline as it relates to such Broker-Dealer by giving notice not less than two
Business Days prior to the date such change is to take effect to Bidders who place Orders through such
Broker-Dealer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 70 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Business
Day</B>&#8221; means a day on which the New York Stock Exchange is open for trading and which is not a Saturday, Sunday or other
day on which banks in the City of New York, New York are authorized or obligated by law to close, days on which the Federal Reserve
Bank of New York is not open for business, days on which banking institutions or trust companies located in the state in which
the operations of the Auction Agent are conducted are authorized or required to be closed by law, regulation or executive order
of the state in which the Auction Agent conducts operations with respect to the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Clerical
Error</B>&#8221; means a clerical error in the processing of an Order, and includes, but is not limited to, the following: (i)
a transmission error, including but not limited to, an Order sent to the wrong address or number, failure to transmit certain
pages or illegible transmission, (ii) failure to transmit an Order received from one or more Existing Holders or Potential Beneficial
Owners (including Orders from the Broker-Dealer which were not originated by the Auction Desk) prior to the Broker-Dealer Deadline
or generated by the Broker-Dealer&#8217;s Auction Desk for its own account prior to the Submission Deadline or (iii) a typographical
error. Determining whether an error is a &#8220;Clerical Error&#8221; is within the reasonable judgment of the Broker-Dealer,
provided that the Broker-Dealer has a record of the correct Order that shows it was so received or so generated prior to the Broker-
Dealer Deadline or the Submission Deadline, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Code</B>&#8221;
means the Internal Revenue Code of 1986, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Commercial
Paper Dealers</B>&#8221; has the meaning set forth in the definition of AA Composite Commercial Paper Rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Commission</B>&#8221;
means the Securities and Exchange Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Default Rate</B>&#8221; means the Reference Rate multiplied by three (3).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Deposit
Securities</B>&#8221; means cash and any obligations or securities, including short term money market instruments that are Eligible
Assets, rated at least&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, except that, such obligations or securities shall be considered &#8220;Deposit Securities&#8221;
only if they are also rated at least P-2 by Moody&#8217;s.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Discount
Factor</B>&#8221; means the Moody&#8217;s Discount Factor (if Moody&#8217;s is then
rating&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Notes),&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discount Factor (if&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;is then
rating the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes) or an Other Rating Agency Discount Factor, whichever is applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Discounted
Value</B>&#8221; means the quotient of the Market Value of an Eligible Asset divided by the applicable Discount Factor, provided
that with respect to an Eligible Asset that is currently callable, Discounted Value will be equal to the quotient as calculated
above or the call price, whichever is lower, and that with respect to an Eligible Asset that is prepayable, Discounted Value will
be equal to the quotient as calculated above or the par value, whichever is lower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Eligible
Assets</B>&#8221; means Moody&#8217;s Eligible Assets
or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8217;s Eligible Assets (if Moody&#8217;s or are
then rating the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes) and/or Other Rating Agency Eligible Assets, whichever is applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Error
Correction Deadline</B>&#8221; means one hour after the Auction Agent completes the dissemination of the results of the Auction
to Broker-Dealers without regard to the time of receipt of such results by any Broker- Dealer; provided, however, in no event
shall the Error Correction Deadline extend past 4:00 p.m., New York City time unless the Auction Agent experiences technological
failure or force majeure in disseminating the Auction results which causes a delay in dissemination past 3:00 p.m., New York City
time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 71 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Existing
Holder</B>,&#8221; with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of a series, shall
mean a Broker-Dealer (or any such other Person as may be permitted by the Issuer) that is listed on the records of the Auction
Agent as a holder of Notes of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">&#8220;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8221;
means&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ratings and its successors at law.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Discount
Factor</B>&#8221; means the discount factors set forth in the Guidelines for use in calculating the Discounted Value of the Issuer&#8217;s
assets in connection with &#8217;s ratings of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Eligible
Asset</B>&#8221; means assets of the Issuer set forth in the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guidelines
as eligible for inclusion in calculating the Discounted Value of the Issuer&#8217;s assets in connection with&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8217;s
ratings of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Guidelines</B>&#8221;
mean the guidelines provided by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, as may be amended from time to time, in connection with&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8217;s ratings of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Hold
Order</B>&#8221; shall have the meaning specified in Appendix A-I hereto or an Order deemed to have been submitted as provided
in paragraph (c) of Section 1 of Appendix A-I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Holder</B>&#8221;
means, with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, the registered holder of notes of each series of Notes as the same appears on the books or records
of the Issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Index</B>&#8221;
means on any Auction Date with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes in any Auction Period of 35 days or less the applicable LIBOR rate. The Index
with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes in any Auction Period of more than 35 days shall be the rate on United States Treasury Securities having
a maturity which most closely approximates the length of the Auction Period as last published in The Wall Street Journal or such
other source as may be mutually agreed upon by the Trustee and the Broker-Dealers. If either rate is unavailable, the Index shall
be an index or rate agreed to by all Broker-Dealers and consented to by the Issuer. For the purpose of this definition an Auction
Period of 35 days or less means a 35-day Auction Period or shorter Auction Period, i.e., a 35-day Auction Period which is extended
because of a holiday would still be considered an Auction Period of 35 days or less.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Interest
Payment Date</B>&#8221; when used with respect to any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, means the date on which an installment of interest on such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
shall be due and payable which generally shall be the day next following an Auction Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 72 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>LIBOR</B>&#8221;
means, for purposes of determining the Reference Rate, (i) the rate for deposits in U.S. dollars for the designated Rate
Period, which appears on display page 3750 of Moneyline&#8217;s Telerate Service (&#8220;Telerate Page 3750&#8221;) (or such
other page as may replace that page on that service, or such other service as may be selected by Lehman Brothers Inc. or its
successors) as of 11:00 a.m., London time, on the day that is the Business Day on the Auction Date or, if the Auction Date is
not a Business Day, the Business Day preceding the Auction Date (the &#8220;LIBOR Determination Date&#8221;), or (ii) if such
rate does not appear on Telerate Page 3750 or such other page as may replace such Telerate Page 3750,
(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall determine the arithmetic mean of the offered
quotations of the reference banks to leading banks in the London interbank market for deposits in U.S. dollars for the
designated Rate Period in an amount determined by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by
reference to requests for quotations as of approximately 11:00 a.m. (London time) on such date made
by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to the reference banks, (B) if at least two of the
reference banks provide such quotations, LIBOR shall equal such arithmetic mean of such quotations, (C) if only one or none
of the reference banks provide such quotations, LIBOR shall be deemed to be the arithmetic mean of the offered quotations
that leading banks in The City of New York, New York selected by (after obtaining the Issuer&#8217;s approval) are quoting on
the relevant LIBOR Determination Date for deposits in U.S. dollars for the designated Rate Period in an amount determined
by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(after obtaining the Issuer&#8217;s approval) that
is representative of a single transaction in such market at such time by reference to the principal London office of leading
banks in the London interbank market; provided, however, that
if&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;is not a Broker-Dealer or does not quote a rate
required to determine LIBOR, LIBOR will be determined on the basis of the quotation or quotations furnished by any other
Broker-Dealer selected by the Issuer to provide such rate or rates not being supplied
by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;; provided further, that
if&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and/or a substitute Broker- Dealer are required but
unable to determine a rate in accordance with at least one of the procedures provided above, LIBOR shall be the most recently
determinable LIBOR. If the number of Rate Period days shall be (i) 7 or more but fewer than 21 days, such rate shall be the
seven-day LIBOR rate; (ii) more than 21 but fewer than 49 days, such rate shall be one-month LIBOR rate; (iii) 49 or more but
fewer than 77 days, such rate shall be the two-month LIBOR rate; (iv) 77 or more but fewer than 112 days, such rate shall be
the three-month LIBOR rate; (v) 112 or more but fewer than 140 days, such rate shall be the four-month LIBOR rate; (vi) 140
or more but fewer than 168 days, such rate shall be the five-month LIBOR rate; (vii) 168 or more but fewer 189 days, such
rate shall be the six-month LIBOR rate; (viii) 189 or more but fewer than 217 days, such rate shall be the seven- month LIBOR
rate; (ix) 217 or more but fewer than 252 days, such rate shall be the eight-month LIBOR rate; (x) 252 or more but fewer than
287 days, such rate shall be the nine-month LIBOR rate; (xi) 287 or more but fewer than 315 days, such rate shall be the
ten-month LIBOR rate; (xii) 315 or more but fewer than 343 days, such rate shall be the eleven-month LIBOR rate; and (xiii)
343 or more days but fewer than 365 days, such rate shall be the twelve-month LIBOR rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Market
Value</B>&#8221; means the market value of an asset of the Issuer determined as follows: For equity securities, the value obtained
from readily available market quotations. If an equity security is not traded on an exchange or not available from a Board-approved
pricing service, the value obtained from written broker-dealer quotations. For fixed-income securities, the value obtained from
readily available market quotations based on the last sale price of a security on the day the Issuer values its assets or the
market value obtained from a pricing service or the value obtained from a direct written broker-dealer quotation from a dealer
who has made a market in the security. &#8220;Market Value&#8221; for other securities will mean the value obtained pursuant to
the Issuer&#8217;s valuation procedures. If the market value of a security cannot be obtained, or the Issuer&#8217;s investment
adviser determines that the value of a security as so obtained does not represent the fair value of a security, fair value for
that security shall be determined pursuant to the valuation procedures adopted by the Board of Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Maximum
Rate</B>&#8221; means, on any date on which the Applicable Rate is determined, the rate equal to the applicable percentage of
the Reference Rate, subject to upward but not downward adjustment in the discretion of the Board of Directors after consultation
with the Broker-Dealers, provided that immediately following any such increase the Issuer would be in compliance with the Notes
Basic Maintenance Amount.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Minimum
Rate</B>&#8221; means, on any Auction Date with respect to a Rate Period of&#9;days or fewer, 70% of the AA Composite Commercial
Paper Rate at the close of business on the Business Day next preceding such Auction Date. There shall be no Minimum Rate on any
Auction Date with respect to a Rate Period of more than the Standard Rate Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Moody&#8217;s</B>&#8221;
means Moody&#8217;s Investors Service, Inc., a Delaware corporation, and its successors at law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Moody&#8217;s
Discount Factor</B>&#8221; means the discount factors set forth in the Moody&#8217;s Guidelines for use in calculating the
Discounted Value of the Issuer&#8217;s assets in connection with Moody&#8217;s ratings of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Moody&#8217;s
Eligible Assets</B>&#8221; means assets of the Issuer set forth in the Moody&#8217;s Guidelines as eligible for inclusion in calculating
the Discounted Value of the Issuer&#8217;s assets in connection with Moody&#8217;s ratings of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Moody&#8217;s
Guidelines</B>&#8221; mean the guidelines provided by Moody&#8217;s, as may be amended from time to time, in connection with Moody&#8217;s
ratings of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>1940
Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage</B>&#8221; means asset
coverage, as determined in accordance with Section 18(h) of the Investment Company Act, of at least 300% with respect to all
outstanding senior securities representing indebtedness of the Issuer, including all Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes (or such other
asset coverage as may in the future be specified in or under the Investment Company Act as the minimum asset coverage for
senior securities representing indebtedness of a closed-end investment company as a condition of declaring dividends on its
common stock), determined on the basis of values calculated as of a time within 48 hours next preceding the time of such
determination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 73 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Notes</B>&#8221;
means Securities of the Issuer ranking on a parity with the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes that may be issued from time to time pursuant to the Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Order</B>&#8221;
means a Hold Order, Bid or Sell Order.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Original
Issue Date</B>&#8221; means, with respect to the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Other
Rating Agency</B>&#8221; means each rating agency, if any, other than Moody&#8217;s or then providing a rating for the Notes pursuant
to the request of the Issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Other
Rating Agency Discount Factor</B>&#8221; means the discount factors set forth in the Other Rating Agency Guidelines of each Other
Rating Agency for use in calculating the Discounted Value of the Issuer&#8217;s assets in connection with the Other Rating Agency&#8217;s
rating of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Other
Rating Agency Eligible Assets</B>&#8221; means assets of the Issuer set forth in the Other Rating Agency Guidelines of each Other
Rating Agency as eligible for inclusion in calculating the Discounted Value of the Issuer&#8217;s assets in connection with the
Other Rating Agency&#8217;s rating of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Other
Rating Agency Guidelines</B>&#8221; mean the guidelines provided by each Other Rating Agency, as may be amended from time to time,
in connection with the Other Rating Agency&#8217;s rating of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Outstanding</B>&#8221;
or &#8220;<B>outstanding</B>&#8221; means, as of any date,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes theretofore issued by the Issuer except, without
duplication, (i) any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes theretofore canceled, redeemed or repurchased by the Issuer, or delivered to the Trustee for
cancellation or with respect to which the Issuer has given notice of redemption and irrevocably deposited with the Paying
Agent sufficient funds to redeem such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes and
(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes represented by any certificate in
lieu of which a new certificate has been executed and delivered by the Issuer. Notwithstanding the foregoing, (A) in
connection with any Auction, any series of Notes as to which the Issuer or any person known to the Auction Agent to be an
Affiliate of the Issuer shall be the Existing Holder thereof shall be disregarded and deemed not to be Outstanding; and (B)
for purposes of determining the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount, Notes held by the Issuer shall be disregarded and not
deemed Outstanding but&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes held by any Affiliate of the Issuer shall be deemed Outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Paying
Agent</B>&#8221; means&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;unless and until another entity appointed by a resolution of the Board of Directors enters into an agreement
with the Issuer to serve as paying agent, transfer agent, registrar, and redemption agent with respect to the Notes, which Paying
Agent may be the same as the Trustee or the Auction Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Person</B>&#8221;
or &#8220;<B>person</B>&#8221; means and includes an individual, a partnership, a trust, a company, an unincorporated association,
a joint venture or other entity or a government or any agency or political subdivision thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Potential
Beneficial Owner</B>,&#8221; with respect to a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, shall mean a customer of a Broker-Dealer that is not a
Beneficial Owner of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series but that
wishes to purchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series, or that is a Beneficial Owner of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series that wishes to purchase
additional&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series; provided, however, that for purposes of conducting an Auction, the Auction Agent may
consider a Broker-Dealer acting on behalf of its customer as a Potential Beneficial Owner.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 74 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Potential
Holder</B>,&#8221; with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series, shall mean a Broker-Dealer (or any such other person as may be permitted
by the Issuer) that is not an Existing Holder of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series or that is an Existing Holder of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series
that wishes to become the Existing Holder of additional&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series; provided, however, that for purposes of conducting
an Auction, the Auction Agent may consider a Broker-Dealer acting on behalf of its customer as a Potential Holder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Rate
Period</B>&#8221; means, with respect to a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, the period commencing on the Original Issue Date thereof and ending
on the date specified for such series on the Original Issue Date thereof and thereafter, as to such series, the period commencing
on the day following each Rate Period for such series and ending on the day established for such series by the Issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Rating
Agency</B>&#8221; means each of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(if&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;is then rating&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes), Moody&#8217;s (if Moody&#8217;s is then rating Notes) and
any Other Rating Agency.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Rating
Agency Guidelines</B>&#8221; mean&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guidelines (if&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;is then rating&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes), Moody&#8217;s Guidelines (if Moody&#8217;s is
then rating&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes) and any Other Rating Agency Guidelines.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Redemption
Date</B>,&#8221; when used with respect to any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note to be redeemed, means the date fixed for such redemption by or pursuant
to the Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Redemption
Price</B>,&#8221; when used with respect to any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note to be redeemed, means the price at which it is to be redeemed pursuant
to the Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Reference
Rate</B>&#8221; means, with respect to the determination of the Maximum Rate and Default Rate, the greater of (i) the applicable
AA Composite Commercial Paper Rate (for a Rate Period of fewer than 184 days) or the applicable Treasury Index Rate (for a Rate
Period of 184 days or more), or (ii) the applicable LIBOR Rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Securities
Act</B>&#8221; means the Securities Act of 1933, as amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Securities
Depository</B>&#8221; means The Depository Trust Company and its successors and assigns or any successor securities depository
selected by the Issuer that agrees to follow the procedures required to be followed by such securities depository in connection
with the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Series&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Sell
Order</B>&#8221; shall have the meaning specified in Appendix A-I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Special
Auction Period</B>&#8221; means an Auction Period that is not a Standard Auction Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Special Rate Period</B>&#8221;
means a Rate Period that is not a Standard Rate Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Specific
Redemption Provisions</B>&#8221; means, with respect to any Special Rate Period of more than one year, either, or any combination
of a period (a &#8220;Non-Call Period&#8221;) determined by the Board of Directors after consultation with the Broker-Dealers,
during which the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes subject to such Special Rate Period are not subject to redemption at the option of the Issuer consisting
of a number of whole years as determined by the Board of Directors after consultation with the Broker-Dealers, during each year
of which the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes subject to such Special Rate Period shall be redeemable at the Issuer&#8217;s option and/or in connection
with any mandatory redemption at a price equal to the principal amount plus accrued but unpaid interest plus a premium expressed
as a percentage or percentages of $25,000 or expressed as a formula using specified variables as determined by the Board of Directors
after consultation with the Broker-Dealers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Standard
Auction Period</B>&#8221; means an Auction Period of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;days.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Standard Rate Period</B>&#8221; means a Rate Period
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;days.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 75 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Stated
Maturity</B>&#8221; with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Series&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, shall mean&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Submission
Deadline</B>&#8221; means 1:00 P.M., New York City time, on any Auction Date or such other time on such date as shall be specified
by the Auction Agent from time to time pursuant to the Auction Agreement as the time by which the Broker-Dealers are required
to submit Orders to the Auction Agent. Notwithstanding the foregoing, the Auction Agent will follow the Securities Industry and
Financial Markets Association&#8217;s Early Market Close Recommendations for shortened trading days for the bond markets (the
 &#8220;SIFMA Recommendation&#8221;) unless the Auction Agent is instructed otherwise in writing by the Issuer. In the event of
a SIFMA Recommendation with respect to an Auction Date, the Submission Deadline will be 11:30 A.M., instead of 1:00 P.M., New
York City time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Submitted
Bid</B>&#8221; shall have the meaning specified in Appendix A-I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Submitted Hold Order</B>&#8221; shall have the
meaning specified in Appendix A-I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Submitted Order</B>&#8221; shall have the meaning specified in Appendix A-I
hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&#8220;<B>Submitted Sell Order</B>&#8221; shall have the meaning specified in Appendix A-I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Sufficient
Clearing Bids</B>&#8221; means for each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, an Auction for which the number of Units of Notes of such series that
are the subject of Submitted Bids by Potential Beneficial Owners specifying one or more rates not higher than the Maximum Rate
is not less than the number of Units of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series that are the subject of Submitted Sell Orders and of Submitted
Bids by Existing Holders specifying rates higher than the Maximum Rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&#8220;<B>Notes
Basic Maintenance Amount</B>&#8221; as of any Valuation Date has the meaning set forth in the Rating Agency Guidelines.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&#8220;<B>Notes
Series</B>&#8221; means the Series&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes or any other Notes
hereinafter designated as Series of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">&#8220;<B>Treasury
Index Rate</B>&#8221; means the average yield to maturity for actively traded marketable U.S. Treasury fixed interest rate securities
having the same number of 30-day periods to maturity as the length of the applicable Rate Period, determined, to the extent necessary,
by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods
to maturity treating all Rate Periods with a length greater than the longest maturity for such securities as having a length equal
to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the
Board of Governors of the Federal Reserve System (currently in H.15(519)); provided, however, if the most recent such statistical
release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be
based upon the average of comparable data as quoted to the Issuer by at least three recognized dealers in U.S. Government securities
selected by the Issuer.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Trustee</B>&#8221;
means&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or such other person who is named as a trustee pursuant to the terms of the Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Unit</B>&#8221;
means, with respect to each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, the principal amount of the minimum Authorized Denomination of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Valuation
Date</B>&#8221; means every Friday, or, if such day is not a Business Day, the next preceding Business Day; provided, however,
that the first Valuation Date may occur on any other date established by the Issuer; provided, further, however, that such first
Valuation Date shall be not more than one week from the date on which&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Series&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;initially are issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&#8220;<B>Winning
Bid Rate</B>&#8221; means for each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, the lowest rate specified in any Submitted Bid of such series of Notes
which if selected by the Auction Agent as the Applicable Rate would cause the number of Units of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series that
are the subject of Submitted Bids specifying a rate not greater than such rate to be not less than the number of Units of Available&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 76 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">NOTE
DETAILS, FORM OF NOTES AND REDEMPTION OF NOTES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Interest</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>The
Holders of any series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall be entitled to
receive interest payments on their Notes at the Applicable Rate, determined as set forth in paragraph (c) of this Section
2.02, and no more, payable on the respective dates determined as set forth in paragraph (b) of this Section 2.02. Interest on
the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of any series issued on the Original Issue Date shall accumulate from the Original Issue
Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>(i)
Interest shall be payable, subject to subparagraph (b)(ii) of this Section 2.02, on each series of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, with respect to any
Rate Period on the first Business Day following the last day of such Rate Period; provided, however, if the Rate Period is
greater than 30 days then on a monthly basis on the first Business Day of each month within such Rate Period, not including
the initial Rate Period, and on the Business Day following the last day of such Rate Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>If a day for payment of interest resulting from the application of subparagraph (b)(i) above is not a Business Day, then
the Interest Payment Date shall be the first Business Day following such day for payment of interest in the case of a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
designated as &#8220;Series&#8221;.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The Issuer shall pay to the Paying Agent not later than 3:00 p.m., New York City time, on the Business Day next preceding
each Interest Payment Date for each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, an aggregate amount of funds available on the next Business Day in the
City of New York, New York, equal to the interest to be paid to all Holders of such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes on such Interest Payment Date. The
Issuer shall not be required to establish any reserves for the payment of interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>All moneys paid to the Paying Agent for the payment of interest shall be held in trust for the payment of such interest
by the Paying Agent for the benefit of the Holders specified in subparagraph (b)(v) of this Section 2.02. Any moneys paid to the
Paying Agent in accordance with the foregoing but not applied by the Paying Agent to the payment of interest, including interest
earned on such moneys, will, to the extent permitted by law, be repaid to the Issuer at the end of 90 days from the date on which
such moneys were to have been so applied.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Each interest payment on a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall be paid on the Interest Payment Date therefor to the Holders of that
series as their names appear on the security ledger or security records of the Issuer on the Business Day next preceding such
Interest Payment Date. Interest in arrears for any past Rate Period may be declared and paid at any time, without reference to
any regular Interest Payment Date, to the Holders as their names appear on the books or records of the Issuer on such date, not
exceeding 15 days preceding the payment date thereof, as may be fixed by the Board of Directors. No interest will be payable in
respect of any Interest Payment or payments which may be in arrears.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>(i)
The interest rate on Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of each series
during the period from and after the Original Issue Date to and including the last day of the initial Rate Period therefor
shall be equal to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%. For each subsequent Rate Period
with respect to the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Outstanding thereafter, the
interest rate shall be equal to the rate per annum that results from an Auction; provided, however, that if an Auction for
any subsequent Rate Period of a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes is not held for any reason or if Sufficient Clearing Bids have not been
made in an Auction (other than as a result of all series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes being the subject of Submitted Hold Orders), then the
interest rate on a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes for any such Rate Period shall be the Maximum Rate (except during a Default Period (as
defined below) when the interest rate shall be the Default Rate, as set forth in Section 2.02(c)(ii) below). The All Hold
Rate will apply automatically following an Auction in which all of the Outstanding series&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of Notes are subject (or are
deemed to be subject) to Hold Orders. The rate per annum at which interest is payable on a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes as
determined pursuant to this Section 2(c)(i) shall be the &#8220;Applicable Rate.&#8221; For Standard Rate Periods or shorter
periods only, the Applicable Rate resulting from an Auction will not be less than the Minimum Rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Subject to the cure provisions below, a &#8220;Default Period&#8221; with respect to a particular series will commence
on any date the Issuer fails to deposit irrevocably in trust in same-day funds, with the Paying Agent by 12:00 noon, New York
City time, (A) the full amount of any redemption price (the &#8220;Redemption Price&#8221;) payable on the date fixed for redemption
(the &#8220;Redemption Date&#8221;) (a &#8220;Redemption Default,&#8221; which shall constitute an Event of Default pursuant to
Section 5.1(7) of the Original Indenture) or (B) the full amount of any accrued interest on that series payable on the Interest
Payment Date (an &#8220;Interest Default&#8221; and together with a Redemption Default, hereinafter referred to as &#8220;Default&#8221;).
Subject to the cure provisions of Section 2(c)(iii) below, a Default Period with respect to an Interest Default or a Redemption
Default shall end on the Business Day on which, by 12:00 noon, New York City time, all unpaid interest and any unpaid Redemption
Price shall have been deposited irrevocably in trust in same-day funds with the Paying Agent. In the case of an Interest Default,
the Applicable Rate for each Rate Period commencing during a Default Period will be equal to the Default Rate, and each subsequent
Rate Period commencing after the beginning of a Default Period shall be a Standard Rate Period; provided, however, that the commencement
of a Default Period will not by itself cause the commencement of a new Rate Period. No Auction shall be held during a Default
Period with respect to an Interest Default applicable to that series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>No
Default Period with respect to an Interest Default or Redemption Default shall be deemed to commence if the amount of any
interest or any Redemption Price due (if such default is not solely due to the willful failure of the Issuer) is deposited
irrevocably in trust, in same-day funds with the Paying Agent by 12:00 noon, New York City time within three Business Days
after the applicable Interest Payment Date or Redemption Date, together with an amount equal to the Default Rate applied to
the amount of such non-payment based on the actual number of days comprising such period divided by 360 for each series. The
Default Rate shall be equal to the Reference Rate multiplied by three (3).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The amount of interest per Unit of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes payable on each Interest Payment Date of each Rate Period of less than one
(1) year (or in respect of interest on another date in connection with a redemption during such Rate Period) shall be computed
by multiplying the Applicable Rate (or the Default Rate) for such Rate Period (or a portion thereof) by a fraction, the numerator
of which will be the number of days in such Rate Period (or portion thereof) that such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes were outstanding and for which
the Applicable Rate or the Default Rate was applicable and the denominator of which will be 360, multiplying the amount so obtained
by $25,000, and rounding the amount so obtained to the nearest cent. During any Rate Period of one (1) year or more, the amount
of interest per Unit of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes payable on any Interest Payment Date (or in respect of interest on another date in connection
with a redemption during such Rate Period) shall be computed as described in the preceding sentence.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Any Interest Payment made on any series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall first be credited against the earliest accrued but unpaid interest
due with respect to such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 77 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Redemption</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>(i)
After the initial Rate Period, subject to the provisions of this Section 2.03 and to the extent permitted under the
Investment Company Act, the Issuer may, at its option, redeem in whole or in part out of funds legally available therefor a
series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes herein designated as (A) having a Rate
Period of one year or less, on the Business Day after the last day of such Rate Period by delivering a notice of redemption
not less than 15 days and not more than 40 days prior to the date fixed for such redemption, at a redemption price equal to
the aggregate principal amount, plus an amount equal to accrued but unpaid interest thereon (whether or not earned) to the
date fixed for redemption (&#8220;Redemption Price&#8221;), or (B) having a Rate Period of more than one year, on any
Business Day prior to the end of the relevant Rate Period by delivering a notice of redemption not less than 15 days and not
more than 40 days prior to the date fixed for such redemption, at the Redemption Price, plus a redemption premium, if any,
determined by the Board of Directors after consultation with the Broker-Dealers and set forth in any applicable Specific
Redemption Provisions at the time of the designation of such Rate Period as set forth in Section 2.04 hereof; provided,
however, that during a Rate Period of more than one year no series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes will be subject to optional redemption except
in accordance with any Specific Redemption Provisions approved by the Board of Directors after consultation with the
Broker-Dealers at the time of the designation of such Rate Period. Notwithstanding the foregoing, the Issuer shall not give a
notice of or effect any redemption pursuant to this Section 2.03(a)(i) unless, on the date on which the Issuer intends to
give such notice and on the date of redemption (a) the Issuer has available certain Deposit Securities with maturity or
tender dates not later than the day preceding the applicable redemption date and having a value not less than the amount
(including any applicable premium) due to Holders of a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes by reason of the redemption of such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes on
such date fixed for the redemption and (b) the Issuer would have Eligible Assets with an aggregate Discounted Value at least
equal the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount immediately subsequent to such redemption, if such redemption were to occur on
such date, it being understood that the provisions of paragraph (d) of this Section 2.03 shall be applicable in such
circumstances in the event the Issuer makes the deposit and takes the other action required thereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>If
the Issuer fails to maintain, as of any Valuation Date, Eligible Assets with an aggregate Discounted Value at least equal to
the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount or, as of the last
Business Day of any month, the 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset
Coverage, and such failure is not cured within ten Business Days following such Valuation Date in the case of a failure to
maintain the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount or on the
last Business Day of the following month in the case of a failure to maintain the 1940
Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage as of such last Business Day
(each an &#8220;Asset Coverage Cure Date&#8221;), the Notes will be subject to mandatory redemption out of funds legally
available therefor. The aggregate principal amount
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes to be redeemed in such circumstances will be
equal to the lesser of (A) the minimum principal amount of Notes the redemption of which, if deemed to have occurred
immediately prior to the opening of business on the relevant Asset Coverage Cure Date, would result in the Issuer having
Eligible Assets with an aggregate Discounted Value at least equal to
the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount, or sufficient to
satisfy 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage, as the case may
be, in either case as of the relevant Asset Coverage Cure Date (provided that, if there is no such minimum principal amount
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes the redemption of which would have such result, all&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes then Outstanding will be redeemed), and (B) the maximum
principal amount of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes that can be redeemed out of funds expected to be available therefor on the Mandatory Redemption
Date at the Mandatory Redemption Price set forth in subparagraph (a)(iii) of this Section 2.03.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>In determining the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes required to be redeemed
in accordance with the foregoing Section 2.03(a)(ii), the Issuer shall allocate the aggregate principal amount&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of
Notes required to be redeemed to satisfy the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic
Maintenance Amount or the 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage,
as the case may be, pro rata among the Holders of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
in proportion to the aggregate principal amount of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
they hold, by lot or by such other method as the Issuer shall deem equitable, subject to the further provisions of this subparagraph
(iii). The Issuer shall effect any required mandatory redemption pursuant to subparagraph (a)(ii) of this Section 2.03 no later
than 40 days after the Asset Coverage Cure Date (the &#8220;Mandatory Redemption Date&#8221;), except that if the Issuer does
not have funds legally available for the redemption of, or is not otherwise legally permitted to redeem, the aggregate principal
amount of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes which would be required to be redeemed
by the Issuer under clause (A) of subparagraph (a)(ii) of this Section 2.03 if sufficient funds were available, or the Issuer
otherwise is unable to effect such redemption on or prior to such Mandatory Redemption Date, the Issuer shall redeem those&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes,
and other Notes, on the earliest practicable date on which the Issuer will have such funds available, upon notice pursuant to
Section 2.03(b) to record owners of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes to be redeemed
and the Paying Agent. The Issuer will deposit with the Paying Agent funds sufficient to redeem the specified aggregate principal
amount of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes with respect to a redemption required under subparagraph (a)(ii) of this Section 2.03, by 1:00 p.m., New York City
time, of the Business Day immediately preceding the Mandatory Redemption Date. If fewer than all of the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes are
to be redeemed pursuant to this Section 2.03(a)(iii), the aggregate principal amount of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes to be redeemed shall be redeemed
pro rata from the Holders of such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes in proportion to the aggregate principal amount of such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes held by such Holders,
by lot or by such other method as the Issuer shall deem fair and equitable, subject, however, to the terms of any applicable Specific
Redemption Provisions. &#8220;Mandatory Redemption Price&#8221; means the Redemption Price plus (in the case of a Rate Period
of one year or more only) a redemption premium, if any, determined by the Board of Directors after consultation with the Broker-Dealers
and set forth in any applicable Specific Redemption Provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 78 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>In the event of a redemption pursuant to Section 2.03(a), the Issuer will file a notice of its intention to redeem with
the Commission so as to provide at least the minimum notice required under Rule 23c-2 under the Investment Company Act or any
successor provision. In addition, the Issuer shall deliver a notice of redemption to the Auction Agent and the Trustee (the &#8220;Notice
of Redemption&#8221;) containing the information set forth below (i) in the case of an optional redemption pursuant to subparagraph
(a)(i) above, at least three Business Days prior to the giving of notice to the Holders and (ii) in the case of a mandatory redemption
pursuant to subparagraph (a)(ii) above, on or prior to the 30th day preceding the Mandatory Redemption Date. The Trustee will
use its reasonable efforts to provide notice to each Holder of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
called for redemption by electronic or other reasonable means not later than the close of business on the Business Day immediately
following the day on which the Trustee determines the Notes to be redeemed (or, during a Default Period with respect to such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes,
not later than the close of business on the Business Day immediately following the day on which the Trustee receives Notice of
Redemption from the Issuer). The Trustee shall confirm such notice in writing not later than the close of business on the third
Business Day preceding the date fixed for redemption by providing the Notice of Redemption to each Holder of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
called for redemption, the Paying Agent (if different from the Trustee) and the Securities Depository. Notice of Redemption will
be addressed to the registered owners of each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
at their addresses appearing on the books or records of the Issuer. Such Notice of Redemption will set forth (i) the date fixed
for redemption, (ii) the principal amount and identity of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
to be redeemed, (iii) the redemption price (specifying the amount of accrued interest to be included therein and any redemption
premium, if any), (iv) that interest on the Notes to be redeemed will cease to accrue on such date fixed for redemption, (v) applicable
cusip number(s) and (vi) the provision under which redemption shall be made. No defect in the Notice of Redemption or in the transmittal
or mailing thereof will affect the validity of the redemption proceedings, except as required by applicable law. If fewer than
all&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes held by any Holder are to be redeemed, the Notice of Redemption mailed to such Holder shall also specify the principal
amount of Notes to be redeemed from such Holder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Notwithstanding the provisions of paragraph (a) of this Section 2.03, no&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes may be redeemed unless all interest on
the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes and all Notes of the Issuer ranking on a parity with the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, have been or are being contemporaneously
paid or set aside for payment; provided, however, that the foregoing shall not prevent the purchase or acquisition of all Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
pursuant to the successful completion of an otherwise lawful purchase or exchange offer made on the same terms to, and accepted
by, Holders of all Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>Upon
the deposit of funds sufficient to redeem any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
with the Paying Agent and the giving of the Notice of Redemption to the Trustee under paragraph (b) of this Section 2.03,
interest on such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall cease to accrue and
such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall no longer be deemed to be Outstanding
for any purpose (including, without limitation, for purposes of calculating whether the Issuer has maintained the
requisite&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount or the 1940
Act Notes Asset Coverage), and all rights of the Holder of
the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes so called for redemption shall cease and
terminate, except the right of such Holder to receive the redemption price specified herein, but without any interest or
other additional amount. Such redemption price shall be paid by the Paying Agent to the nominee of the Securities Depository.
The Issuer shall be entitled to receive from the Paying Agent, promptly after the date fixed for redemption, any cash
deposited with the Paying Agent in excess of (i) the aggregate redemption price of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes called for redemption on such
date and (ii) such other amounts, if any, to which Holders of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes called for redemption may be entitled. Any funds
so deposited that are unclaimed at the end of two years from such redemption date shall, to the extent permitted by law, be
paid to the Issuer, after which time the Holders of Notes so called for redemption may look only to the Issuer for payment of
the redemption price and all other amounts, if any, to which they may be entitled. The Issuer shall be entitled to receive,
from time to time after the date fixed for redemption, any interest earned on the funds so deposited.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>To the extent that any redemption for which Notice of Redemption has been given is not made by reason of the absence of
legally available funds therefor, or is otherwise prohibited, such redemption shall be made as soon as practicable to the extent
such funds become legally available or such redemption is no longer otherwise prohibited. Failure to redeem any series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
shall be deemed to exist at any time after the date specified for redemption in a Notice of Redemption when the Issuer shall have
failed, for any reason whatsoever, to deposit in trust with the Paying Agent the redemption price with respect to any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
for which such Notice of Redemption has been given. Notwithstanding the fact that the Issuer may not have redeemed any Notes for
which a Notice of Redemption has been given, interest may be paid on a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes and shall include those Notes for
which Notice of Redemption has been given but for which deposit of funds has not been made.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>All moneys paid to the Paying Agent for payment of the redemption price of any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes called for redemption shall be
held in trust by the Paying Agent for the benefit of Holders of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes to be redeemed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>So long as any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes are held of record by the nominee of the Securities Depository, the redemption price for such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
will be paid on the date fixed for redemption to the nominee of the Securities Depository for distribution to Agent Members for
distribution to the persons for whom they are acting as agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Except for the provisions described above, nothing contained herein limits any right of the Issuer to purchase or otherwise
acquire any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes outside of an Auction at any price, whether higher or lower than the price that would be paid in connection
with an optional or mandatory redemption, so long as, at the time of any such purchase, there is no arrearage in the payment of
interest on, or the mandatory or optional redemption price with respect to, any series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes for which Notice of Redemption
has been given and the Issuer is in compliance with the 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage and has Eligible Assets with an aggregate
Discounted Value at least equal to the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount after giving effect to such purchase or acquisition on
the date thereof. If fewer than all the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of any series are redeemed or otherwise acquired by the Issuer, the
Issuer shall give notice of such transaction to the Trustee, in accordance with the procedures agreed upon by the Board of Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The Board of Directors may, without further consent of the holders of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
or the holders of shares of capital stock of the Issuer, authorize, create or issue any class or series of Notes, including other
series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, ranking prior to or on a parity with the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
to the extent permitted by the Investment Company Act, if, upon issuance, either (A) the net proceeds from the sale of such Notes
(or such portion thereof needed to redeem or repurchase the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes)
are deposited with the Trustee in accordance with Section 2.03(d), Notice of Redemption as contemplated by Section 2.03(b) has
been delivered prior thereto or is sent promptly thereafter, and such proceeds are used to redeem all Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes or (B)
the Issuer would meet the 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage, the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount and the requirements of Section
2.08 hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 79 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>If any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes are to be redeemed and such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
are held by the Securities Depository, the Issuer shall include in the notice of redemption delivered to the Securities Depository:
(i) under an item entitled &#8220;Publication Date for Securities Depository Purposes&#8221;, the Interest Payment Date prior
to the Redemption Date, and (ii) an instruction to the Securities Depository to (x) determine on such Publication Date after the
Auction held on the immediately preceding Auction Date has settled, the Depository participants whose Securities Depository positions
will be redeemed and the principal amount of such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
to be redeemed from each such position (the &#8220;Securities Depository Redemption Information&#8221;), and (y) notify the Auction
Agent immediately after such determination of (A) the positions of the Depository Participants in such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes immediately prior
to such Auction settlement, (B) the positions of the Depository Participants in such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes immediately following such Auction
settlement and (C) the Securities Depository Redemption Information. &#8220;Publication Date&#8221; shall mean three Business
Days after the Auction Date next preceding such Redemption Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Designation
of Rate Period</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
initial Rate Period for each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes is as set
forth under &#8220;Designation&#8221; in Section 2.01(a) above. The Issuer will designate the duration of subsequent Rate
Periods of each series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes; provided, however,
that no such designation is necessary for a Standard Rate Period and, provided further, that any designation of a Special
Rate Period shall be effective only if (i) notice thereof shall have been given as provided herein, (ii) any failure to pay
in a timely manner to the Trustee the full amount of any interest on, or the redemption price
of,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall have been cured as provided above,
(iii) Sufficient Clearing Bids shall have existed in an Auction held on the Auction Date immediately preceding the first day
of such proposed Special Rate Period, (iv) if the Issuer shall have mailed a Notice of Redemption with respect to
any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, the redemption price with respect to such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall have been deposited with the Paying Agent, and (v) in
the case of the designation of a Special Rate Period, the Issuer has confirmed that as of the Auction Date next preceding the
first day of such Special Rate Period, it has Eligible Assets with an aggregate Discounted Value at least equal to
the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount, and the Issuer has consulted with the Broker-Dealers and has provided notice of such
designation and otherwise complied with the Rating Agency Guidelines.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the Issuer proposes to designate any Special Rate Period, not fewer than 7 (or two Business Days in the event the duration of
the Rate Period prior to such Special Rate Period is fewer than 8 days) nor more than 30 Business Days prior to the first day
of such Special Rate Period, notice shall be (i) made by press release and (ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>communicated
by the Issuer by telephonic or other means to the Trustee and confirmed in writing promptly thereafter. Each such notice
shall state (A) that the Issuer proposes to exercise its option to designate a succeeding Special Rate Period, specifying the
first and last days thereof and (B) that the Issuer will by 3:00 p.m., New York City time, on the second Business Day next
preceding the first day of such Special Rate Period, notify the Auction Agent and the Trustee, who will promptly notify the
Broker-Dealers, of either (x) its determination, subject to certain conditions, to proceed with such Special Rate Period,
subject to the terms of any Specific Redemption Provisions, or (y) its determination not to proceed with such Special Rate
Period, in which latter event the succeeding Rate Period shall be a Standard Rate Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">No
later than 3:00 p.m., New York City time, on the second Business Day next preceding the first day of any proposed Special Rate
Period, the Issuer shall deliver to the Auction Agent and Trustee, who will promptly deliver to the Broker-Dealers and Existing
Holders, either:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>a notice stating (A) that the Issuer has determined to designate the next succeeding Rate Period as a Special Rate Period,
specifying the first and last days thereof and (B) the terms of any Specific Redemption Provisions; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>a notice stating that the Issuer has determined not to exercise its option to designate a Special Rate Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the Issuer fails to deliver either such notice with respect to any designation of any proposed Special Rate Period to the
Auction Agent or is unable to make the confirmation provided in clause (v) of Paragraph (a) of this Section 2.04 by 3:00
p.m., New York City time, on the second Business Day next preceding the first day of such proposed Special Rate Period, the
Issuer shall be deemed to have delivered a notice to the Auction Agent with respect to such Rate Period to the effect set
forth in clause (ii) above, thereby resulting in a Standard Rate Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 80 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Restrictions
on Transfer</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Notes
may be transferred only (a) pursuant to an order placed in an Auction, (b) to or through a Broker-Dealer or (c) to the Issuer
or any Affiliate. Notwithstanding the foregoing, a transfer other than pursuant to an Auction will not be effective unless the
selling Existing Holder or the Agent Member of such Existing Holder, in the case of an Existing Holder whose Notes are listed
in its own name on the books of the Auction Agent, or the Broker-Dealer or Agent Member of such Broker-Dealer, in the case of
a transfer between persons holding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes through different Broker-Dealers, advises the Auction Agent of such transfer. The
certificates representing the Notes issued to the Securities Depository will bear legends with respect to the restrictions described
above and stop-transfer instructions will be issued to the Transfer Agent and/or Registrar.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">1940
Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Issuer shall maintain, as of the last Business Day of each month in which any&#9;Notes are Outstanding, asset coverage with
respect to the&#9;Notes which is equal to or greater than the 1940 Act Notes Asset Coverage; provided, however, that Section
2.03(a)(ii) shall be the sole remedy in the event the Issuer fails to do so.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Notes
Basic Maintenance Amount</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">So
long as the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes are Outstanding and any Rating Agency is then rating the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, the Issuer shall maintain, as of each
Valuation Date, Eligible Assets having an aggregate Discounted Value equal to or greater than the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance
Amount; provided, however, that Section 2.03(a)(ii) shall be the sole remedy in the event the Issuer fails to do so.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Certain
Other Restrictions</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">For
so long as any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes are Outstanding and any Rating
Agency is then rating&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Notes, the Issuer will not
engage in certain proscribed transactions set forth in the Rating Agency Guidelines, unless it has received written
confirmation from each such Rating Agency that proscribes the applicable transaction in its Rating Agency Guidelines that any
such action would not impair the rating then assigned by such Rating Agency to a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">For
so long as any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes are Outstanding, the Issuer will not declare, pay or set apart for payment any dividend or other distribution
(other than a dividend or distribution paid in shares of, or options, warrants or rights to subscribe for or purchase, common
shares or other shares of capital stock of the Issuer) upon any class of shares of capital stock of the Issuer, unless, in every
such case, immediately after such transaction, the 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage would be achieved after deducting the amount
of such dividend, distribution, or purchase price, as the case may be; provided, however, that dividends may be declared upon
any preferred shares of capital stock of the Issuer if the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes and any other senior securities representing indebtedness
of the Issuer have an asset coverage of at least 200% at the time of declaration thereof, after deducting the amount of such dividend.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">A
declaration of a dividend or other distribution on or purchase or redemption of any common or preferred shares of capital stock
of the Issuer is prohibited (i) at any time that an Event of Default under the Indenture has occurred and is continuing, (ii)
if after giving effect to such declaration, the Issuer would not have Eligible Assets with an aggregate Discounted Value at least
equal to the Notes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Maintenance Amount or the 1940
Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage, or (iii) the Issuer has not redeemed
the full amount of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes required to be redeemed by any provisions for mandatory redemption contained herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 81 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Compliance
Procedures for Asset Maintenance Tests</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">For
so long as any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes are Outstanding and any Rating Agency is then rating such Notes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;As
of each Valuation Date, the Issuer shall determine in accordance with the procedures specified herein (i) the Market Value of
each Eligible Asset owned by the Issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;on that date, (ii) the Discounted Value of each such Eligible Asset using the
Discount Factors, (iii) whether the Notes Basic Maintenance Amount is met as of that date, (iv) the value of the total assets
of the Issuer, less all liabilities, and (v) whether the 1940 Act</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Notes
Asset Coverage is met as of that date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>Upon
any failure to maintain the required&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic
Maintenance Amount or 1940 Act Notes Asset Coverage on any Valuation Date, the Issuer may use reasonable commercial efforts
(including, without limitation, altering the composition of its portfolio, purchasing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes outside of an Auction or in
the event of a failure to file a Rating Agency Certificate (as defined below) on a timely basis, submitting the requisite
Rating Agency Certificate) to re-attain (or certify in the case of a failure to file on a timely basis, as the case may be)
the required&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount or 1940 Act Notes Asset Coverage on or prior to the Asset Coverage Cure
Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Compliance with the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount and 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage tests shall be determined with
reference to those&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes which are deemed to be Outstanding hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The Issuer shall deliver to each Rating Agency which is then rating&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes and any other party specified in the Rating
Agency Guidelines all certificates that are set forth in the respective Rating Agency Guidelines regarding 1940 Act&#9;Notes Asset
Coverage,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount and/or related calculations at such times and containing such information as set forth
in the respective Rating Agency Guidelines (each, a &#8220;Rating Agency Certificate&#8221;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>In the event that any Rating Agency Certificate is not delivered within the time periods set forth in the Rating Agency
Guidelines, the Issuer shall be deemed to have failed to maintain the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount or the 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
Asset Coverage, as the case may be, on such Valuation Date for purposes of Section 2.09(b). In the event that any Rating Agency
Certificate with respect to an applicable Asset Coverage Cure Date is not delivered within the time periods set forth in the Rating
Agency Guidelines, the Issuer shall be deemed to have failed to have Eligible Assets with an aggregate Discounted Value at least
equal to the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Basic Maintenance Amount or to meet the 1940&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage, as the case may be, as of the related
Valuation Date, and such failure shall be deemed not to have been cured as of such Asset Coverage Cure Date for purposes of the
mandatory redemption provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 82 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Delivery
of Notes</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Upon
the execution and delivery of this Supplemental Indenture, the Issuer shall execute and deliver to the Trustee and the Trustee
shall authenticate the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes and deliver them to The Depository Trust Company and as hereinafter in this Section provided.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Prior
to the delivery by the Trustee of any of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, there shall have been filed with or delivered to the Trustee the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>A
resolution duly adopted by the Issuer, certified by the Secretary or other Authorized Officer thereof, authorizing the
execution and delivery of this Supplemental Indenture and the issuance of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(b)</FONT> <FONT STYLE="font-size: 10pt">Duly executed copies of this Supplemental Indenture and a copy of the Indenture.</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(c)</FONT> <FONT STYLE="font-size: 10pt">Rating letters from each Rating Agency rating the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes.</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>An Opinion of Counsel and an Officers&#8217; Certificate pursuant to Sections 3.3 and 9.3 of the Original Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Trustee&#8217;s
Authentication Certificate</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Trustee&#8217;s authentication certificate upon the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall be substantially in the forms provided in Appendix&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;hereto.
No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note shall be secured hereby or entitled to the benefit hereof, or shall be valid or obligatory for any purpose, unless
a certificate of authentication, substantially in such form, has been duly executed by the Trustee; and such certificate of the
Trustee upon any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note shall be conclusive evidence and the only competent evidence that such Bond has been authenticated and
delivered hereunder. The Trustee&#8217;s certificate of authentication shall be deemed to have been duly executed by it if manually
signed by an authorized officer of the Trustee, but it shall not be necessary that the same person sign the certificate of authentication
on all of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes issued hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">EVENTS
OF DEFAULT; REMEDIES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Events
of Default</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">An
 &#8220;Event of Default&#8221; means any one of the following events set forth below (whatever the reason for such Event of Default
and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order
of any court or any order, rule or regulation of any administrative or governmental body):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>default in the payment of any interest upon a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes when it becomes due and payable and the continuance of
such default for thirty (30) days; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>default in the payment of the principal of, or any premium on, a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes at its Stated Maturity; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>default in the performance, or breach, of any covenant or warranty of the Company in the Indenture, and continuance of
such default or breach for a period of ninety (90) days after there has been given, by registered or certified mail, to the Company
by the Trustee a written notice specifying such default or breach and requiring it to be remedied and stating that such notice
is a &#8220;Notice of Default;&#8221; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company
in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar
law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition seeking
reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law,
or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of
any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such
decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>the
commencement by the Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy, insolvency,
reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the
consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding
under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of
any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking
reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to
the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other
similar official of the Company or of any substantial part of its property, or the making by it of an assignment for the
benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or
the taking of corporate action by the Company in furtherance of any such action; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 83 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(f)
if, pursuant to Section 18(a)(1)(c)(ii) of the 1940 Act on the last business day of each of twenty-four(24) consecutive calendar
months, the 1940 Act&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes Asset Coverage is less than 100%; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>any other Event of Default provided with respect to a series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, including a default in the payment of any Redemption
Price payable on the date fixed for redemption.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Unless
otherwise noted, an Event of Default that relates only to one series of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes will not affect any other series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Acceleration
of Maturity; Rescission and Annulment</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
an Event of Default with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of a series at the time Outstanding occurs and is continuing, then in every such
case the Trustee or the holders of not less than a majority in principal amount of the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of that series may
declare the principal amount of all the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of that series to be due and payable immediately, by a notice in writing to the
Company (and to the Trustee if given by holders), and upon any such declaration such principal amount (or specified amount) shall
become immediately due and payable. If an Event of Default specified in paragraphs (d) and (e) above with respect to Notes of
any series at the time Outstanding occurs, the principal amount of all the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of that series shall automatically, and without
any declaration or other action on the part of the Trustee or any holder, become immediately due and payable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">At
any time after such a declaration of acceleration with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of any series has been made and before a judgment or
decree for payment of the money due has been obtained by the Trustee, the holders of a majority in principal amount of the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences
if:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(a)</FONT> <FONT STYLE="font-size: 10pt">the Company has paid or deposited with the Trustee a sum sufficient to pay</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>



<P STYLE="margin-left: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(i)</FONT> <FONT STYLE="font-size: 10pt">all overdue interest on all&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of that series,</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the principal of (and premium, if any, on) any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of that series which have become due otherwise than by such declaration
of acceleration and any interest thereon at the rate or rates prescribed therefor in such Notes,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor
in such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>all
sums paid or advanced by the Trustee and the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>all Events of Default
with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of that series, other than the non-payment of the principal of Notes of that series which have
become due solely by such declaration of acceleration, have been cured or waived.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">No
such rescission shall affect any subsequent default or impair any right consequent thereon.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 84 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Collection
of Indebtedness and Suits for Enforcement by Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Company covenants that if:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT> default is made in the payment of any interest on any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes when such interest becomes due and payable and such default
continues for a period of 90 days, or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>default is made in the payment of the principal of (or premium, if any, on) any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
at the Maturity thereof, the Company will, upon demand of the Trustee, pay to it, for the benefit of the holders of such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes,
the whole amount then due and payable on such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes for
principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest
on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes, and,
in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
an Event of Default with respect to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of any series occurs and is continuing, the Trustee may in its discretion proceed
to protect and enforce its rights and the rights of the holders of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series by such appropriate judicial proceedings
as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant
or agreement in the Indenture or in aid of the exercise of any power granted in the Indenture, or to enforce any other proper
remedy.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Application
of Money Collected</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Any
money collected by the Trustee pursuant to the provisions of the Indenture relating to an Event of Default shall be applied in
the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal
or any premium or interest, upon presentation of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">FIRST:
To the payment of all amounts due the Trustee under the Indenture;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">SECOND:
To the payment of the amounts then due and unpaid for principal of and any premium and interest on the Notes in respect of which
or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the
amounts due and payable on such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes for principal and any premium and interest, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Limitation
On Suits</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">No
holder of any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to
the Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>such holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Notes
of that series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the holders of not less than a majority in principal amount of the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of that series shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>such holder or holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs, expenses
and liabilities to be incurred in compliance with such request;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such
proceeding; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>no
direction inconsistent with such written request has been given to the Trustee during such 60-day period by the holders of a
majority in principal amount of the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of that series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">it
being understood and intended that no one or more of such holders shall have any right in any manner whatever by virtue of, or
by availing of, any provision of the Indenture to affect, disturb or prejudice the rights of any other of such holders, or to
obtain or to seek to obtain priority or preference over any other of such holders or to enforce any right under the Indenture,
except in the manner provided and for the equal and ratable benefit of all of such holders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 85 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Unconditional
Right of Holders to Receive Principal, Premium and Interest</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Notwithstanding
any other provision in the Indenture, the holder of any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and (subject to the provisions of any supplemental indenture) interest on
such&#9;Notes on the respective Stated Maturities expressed in such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes (or, in the case of redemption, on the Redemption
Date), and to institute suit for the enforcement of any such payment and such rights shall not be impaired without the consent
of such holder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Restoration
of Rights and Remedies</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">If
the Trustee or any holder has instituted any proceeding to enforce any right or remedy under the Indenture and such proceeding
has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such holder, then and
in every such case, subject to any determination in such proceeding, the Company, the Trustee and the holders shall be restored
severally and respectively to their former positions and thereafter all rights and remedies of the Trustee and the holders shall
continue as though no such proceeding had been instituted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Rights
and Remedies Cumulative</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Except
as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes, no right or remedy
conferred upon or reserved to the Trustee or to the holders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given or
now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy, or otherwise,
shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Control
By Holders</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
holders of not less than a majority in principal amount of the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of any series shall have the right to direct
the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power
conferred on the Trustee, with respect to the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series, provided that</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(1)</FONT> <FONT STYLE="font-size: 10pt">such direction shall not be in conflict with any rule of law or with the Indenture, and</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Waiver
of Past Defaults</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
holders of not less than a majority in principal amount of the Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of any series may on behalf of the holders
of all the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series waive any past default hereunder with respect to such series and its consequences, except a
default</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(1)</FONT> <FONT STYLE="font-size: 10pt">in the payment of the principal of or any premium or interest on any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes of such series, or</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>in respect of a covenant or provision which cannot be modified or amended without the consent of the holder of each Outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
of such series affected.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Upon
any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured,
for every purpose of the Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent
thereon.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 86 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">SATISFACTION
AND DISCHARGE OF INDENTURE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Indenture shall upon request of the Company cease to be of further effect (except as to any surviving rights of registration of
transfer or exchange of any&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes expressly provided for herein or in the terms of such security), and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of the Indenture, when</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(a)</FONT> <FONT STYLE="font-size: 10pt">Either:</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>all&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes theretofore authenticated and delivered
(other than (1) securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in the Indenture;
and (2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in the Indenture) have been delivered to the Trustee
for cancellation; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>all such&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes not theretofore delivered to the Trustee for cancellation have become due and payable, or will become
due and payable at their Stated Maturity within one year, or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company,
and the Company, in the case of this subsection (ii) has deposited or caused to be deposited with the Trustee as trust funds in
trust money in an amount sufficient to pay and discharge the entire indebtedness on such securities not theretofore delivered
to the Trustee for cancellation, for principal and any premium and interest to the date of such deposit (in the case of Securities
which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(b)</FONT> <FONT STYLE="font-size: 10pt">the Company has paid or caused to be paid all other sums payable hereunder by the Trust; and</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Company has delivered to the Trustee an Officers&#8217; Certificate and an Opinion of Counsel, each stating that all
conditions precedent herein provided for relating to the satisfaction and discharge of the Indenture have been complied with.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Notwithstanding
the satisfaction and discharge of the Indenture, the obligations of the Company to the Trustee under the Indenture and, if money
shall have been deposited with the Trustee pursuant to subparagraph (ii) of paragraph (a) above, the obligations of the Trustee
under certain provisions of the Indenture shall survive.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 87 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">THE
TRUSTEE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Certain
Duties and Responsibilities</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">(1)</FONT> <FONT STYLE="font-size: 10pt">Except during the continuance of an Event of Default,</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp; </FONT>the
Trustee undertakes to perform such duties and only such duties as are specifically set forth in the Indenture and as required
by the Trust Indenture Act, and no implied covenants or obligations shall be read into the Indenture against the Trustee;
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of
the Indenture; but in the case of any such certificates or opinions which by any provision of the Indenture are specifically required
to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform
to the requirements of the Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts
stated therein).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>In case an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested
in it by the Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use
under the circumstances in the conduct of his or her own affairs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations arising
out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee
shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon
as practicable under the circumstances.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>No provision of the Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its
own negligent failure to act, or its own willful misconduct, except that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"> <FONT STYLE="font-size: 10pt">(A)</FONT> <FONT STYLE="font-size: 10pt">this Subsection shall not be construed to limit the effect of Subsection (1)(A) of this Section;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall
be proved that the Trustee was negligent in ascertaining the pertinent facts;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the holders of a majority in principal amount of the Outstanding securities of any series, determined as
provided in the Indenture, relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee, under the Indenture with respect to the Securities of such
series; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(D)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>no provision of the Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured
to it.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 88 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Split-Segment; Name: 4 -->
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Notice
of Defaults</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
a default occurs hereunder with respect to
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of
any series, the Trustee shall give the Holders of Notes of such series notice of such default as and to the extent provided
by the Trust Indenture Act; provided, however, that in the case of any default with respect to
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series, no such
notice to Holders shall be given until at least 90 days after the occurrence thereof. For the purpose hereof, the term
 &#8220;default&#8221; means any event which is, or after notice or lapse of time or both would become, an Event of Default
with respect to
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Certain
Rights of Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Subject
to the provisions under &#8220;Certain Duties and Responsibilities&#8221; above:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>any request or direction of the Company shall be sufficiently evidenced by a Company Request or Company Order, and any
resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>whenever in the administration of the Indenture the Trustee shall deem it desirable that a matter be proved or established
prior to taking, suffering or omitting any action hereunder, the Trustee may, in the absence of bad faith on its part, rely upon
an Officers&#8217; Certificate;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee may consult with counsel of its selection and the written advice of such counsel or any Opinion of Counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it in good faith
and in reliance thereon;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request
or direction of any of the holders pursuant to the Indenture, unless such holders shall have offered to the Trustee security or
indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance
with such request or direction;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Company, personally or by agent or attorney;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee may execute any of the trusts or powers or perform any duties hereunder either directly or by or through agents
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and reasonably
believed by it to be authorized or within the discretion or rights or powers conferred upon it by the Indenture;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee shall not be deemed to have notice of any default or Event of Default unless a Responsible Officer of the Trustee
has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee
at the Corporate Trust Office of the Trustee, and such notice references the Notes and the Indenture;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 89 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT> the rights, privileges, protections, immunities and benefits given to the Trustee, including its rights to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee may request that the Company deliver an Officers&#8217; Certificate setting forth the names of individuals
and/or titles of officers authorized at such time to take specified actions pursuant to the Indenture, which Officers&#8217; Certificate
may be signed by any person authorized to sign an Officers&#8217; Certificate, including any person specified as so authorized
in any such certificate previously delivered and not superseded.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Compensation
and Reimbursement</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
Company agrees:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>to pay to the Trustee from time to time such compensation as shall be agreed in writing between the parties for all services
rendered by it (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of
an express trust);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>except as otherwise expressly provided, to reimburse the Trustee upon its request for all reasonable expenses, disbursements
and advances incurred or made by the Trustee in accordance with any provision of the Indenture (including the reasonable compensation
and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable
to its negligence or bad faith; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>to indemnify each of the Trustee or any predecessor Trustee for, and to hold it harmless against, any and all losses, liabilities,
damages, claims or expenses including taxes (other than taxes imposed on the income of the Trustee) incurred without negligence
or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder,
including the costs and expenses of defending itself against any claim (whether asserted by the Company, a holder or any other
Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">When
the Trustee incurs expenses or renders services in connection with an Event of Default, the expenses (including the reasonable
charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration
under any applicable Federal or State bankruptcy, insolvency or other similar law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
provisions hereof shall survive the termination of the Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Conflicting
Interests</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either
eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture
Act and the Indenture. To the extent not prohibited by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting
interest by virtue of being a trustee under the Indenture with respect to
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of more than one series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Resignation
and Removal; Appointment of Successor</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">No
resignation or removal of the Trustee and no appointment of a successor Trustee shall become effective until the acceptance of
appointment by the successor Trustee in accordance with the applicable requirements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Trustee may resign at any time with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of one or more series by giving written notice thereof to the
Company. If the instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 60 days
after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court
of competent jurisdiction for the appointment of a successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Page; Sequence: 90 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Trustee may be removed at any time with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of any series by Act of the holders of a majority in principal
amount of the Outstanding
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series, delivered to the Trustee and to the Company. If the instrument of acceptance
by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of a notice of removal
pursuant to this paragraph, the Trustee being removed may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">If
at any time:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee shall fail to comply after written request therefor by the Company or by any holder who has been a bona fide
holder of
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes for at least six months, or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Trustee shall cease to be eligible and shall fail to resign after written request therefor by the Company or by any
such holder, or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>the
Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its
property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>the
Company by a Board Resolution may remove the Trustee with respect to all
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, or (ii) any holder who has been a bona fide
holder of
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes for at least six months may, on behalf of himself and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee with respect to all
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes and the appointment of a successor Trustee or
Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for
any cause, with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of one or more series, the Company, by a Board Resolution, shall promptly appoint a
successor Trustee or Trustees with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of one or more or all of such series and that at any time there
shall be only one Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of any particular series) and shall comply with the applicable
requirements. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a
successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of any series shall be appointed by Act of the holders of a majority in
principal amount of the Outstanding
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series delivered to the Company and the retiring Trustee, the
successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable
requirements, become the successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series and to that extent supersede the
successor Trustee appointed by the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
no successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of any series shall have been so appointed by the Company or the holders and
accepted appointment in the manner required, any holder who has been a bona fide holder of
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series for at least
six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment
of a successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Company shall give notice of each resignation and each removal of the Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of any series and
each appointment of a successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of any series to all holders of
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series in the
manner provided. Each notice shall include the name of the successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series and the
address of its Corporate Trust Office.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 91 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Acceptance
of Appointment by Successor</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
case of the appointment hereunder of a successor Trustee with respect to all
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, every such successor Trustee so appointed
shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment,
and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without
any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its
charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the
retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such
retiring Trustee hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
case of the appointment hereunder of a successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of one or more (but not all) series, the
Company, the retiring Trustee and each successor Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of one or more series shall execute and
deliver a supplemental indenture wherein each successor Trustee shall accept such appointment and which (1) shall contain
such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the
rights, powers, trusts and duties of the retiring Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of that or those series to which the
appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, shall
contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties
of the retiring Trustee with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of that or those series as to which the retiring Trustee is not retiring
shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of the Indenture as
shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being
understood that nothing in the Indenture shall constitute such Trustees co-trustees of the same trust and that each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with
respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of that or those series to which the appointment of such successor Trustee relates; but, on request of
the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee
all property and money held by such retiring Trustee hereunder with respect to the
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of that or those series to which the
appointment of such successor Trustee relates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Upon
request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting
in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph,
as the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">No
successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified
and eligible.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Merger,
Conversion, Consolidation or Succession to Business</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Any
corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding
to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder,
provided such corporation shall be otherwise qualified and eligible, without the execution or filing of any paper or any
further act on the part of any of the parties hereto. In case any &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes shall have been authenticated, but not delivered, by
the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt
such authentication and deliver the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes so authenticated with the same effect as if such successor Trustee had itself
authenticated such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 92 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">CONSOLIDATION,
MERGER, CONVEYANCE, TRANSFER OR LEASE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Company
May Consolidate, Etc., Only On Certain Terms</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Company shall not consolidate with or merge into any other Person or convey, transfer or lease its properties and assets substantially
as an entirety to any Person, and the Company shall not permit any Person to consolidate with or merge into the Company, unless:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>in
case the Company shall consolidate with or merge into another Person or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or
the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company substantially
as an entirety shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of any
domestic or foreign jurisdiction and shall expressly assume, by an indenture supplemental hereto, executed and delivered to
the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and
interest on all the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes and the performance or observance of every covenant of the Indenture on the part of the Company to
be performed or observed;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the Company
or any subsidiary as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of such
transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default,
shall have happened and be continuing;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the Company has delivered to the Trustee an Officers&#8217; Certificate and an Opinion of Counsel, each stating that such
consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction,
such supplemental indenture comply and that all conditions precedent in the Indenture provided for relating to such transaction
have been complied with.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Successor
Substituted</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Upon
any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of
the properties and assets of the Company substantially as an entirety, the successor Person formed by such consolidation or into
which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and
may exercise every right and power of, the Company under the Indenture with the same effect as if such successor Person had been
named as the Company in the Indenture, and thereafter, except in the case of a lease, the predecessor Person shall be relieved
of all obligations and covenants under the Indenture and the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">DEFEASANCE
AND COVENANT DEFEASANCE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Defeasance
and Discharge</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Upon
the Company&#8217;s exercise of its option (if any) to have the provisions of the Indenture relating to Defeasance applied to
any &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes or any series of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, as the case may be, the Company shall be deemed to have been discharged from its
obligations, with respect to such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes as provided in the Indenture on and after the date the conditions set forth are
satisfied (hereinafter called &#8220;Defeasance&#8221;). For this purpose, such Defeasance means that the Company shall be
deemed to have paid and discharged the entire indebtedness represented by such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes and to have satisfied all its other
obligations under such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes and the Indenture insofar as such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes are concerned (and the Trustee, at the expense of the
Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until
otherwise terminated or discharged hereunder: (1) the rights of holders of such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes to receive, solely from the trust fund,
payments in respect of the principal of and any premium and interest on such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes when payments are due, (2) the
Company&#8217;s obligations with respect to such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, (3) the rights, powers, trusts, duties and immunities of the
Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 93 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Covenant
Defeasance</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Upon
the Company&#8217;s exercise of its option (if any) to have provisions of the Indenture relating to Covenant Defeasance
applied to any &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes or any series of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, as the case may be, (1) the Company shall be released from its obligations under
certain provisions of the Indenture for the benefit of the holders of such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes and (2) the occurrence of any event
specified in the Indenture, and any such covenants provided pursuant to certain provisions of the Indenture shall be deemed
not to be or result in an Event of Default, in each case with respect to such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes as provided in the Indenture on and after
the date the conditions are satisfied (hereinafter called &#8220;Covenant Defeasance&#8221;). For this purpose, such Covenant
Defeasance means that, with respect to such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, the Company may omit to comply with and shall have no liability in respect
of any term, condition or limitation set forth in any such specified section of the Indenture, whether directly or indirectly
by reason of any reference elsewhere in the Indenture, or by reason of any reference in any such section or article of the
Indenture to any other provision in the Indenture or in any other document, but the remainder of the Indenture and such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes
shall be unaffected thereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Conditions
to Defeasance or Covenant Defeasance</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>The
Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee which satisfies the
requirements and agrees to comply with the provisions of the relevant Article of the Indenture applicable to it) as trust
funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely
to, the benefits of the holders of such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, (i) money in an amount, or (ii) U.S. Government Obligations which through the
scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than
one day before the due date of any payment, money in an amount, or (iii) such other obligations or arrangements as may be
specified with respect to such Notes, or (iv) a combination thereof, in each case sufficient, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to
pay and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the
principal of and any premium and interest on such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes on the respective Stated Maturities, in accordance with the terms of
the Indenture and such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes. As used in the Indenture, &#8220;U.S. Government Obligation&#8221; means (x) any security which
is (i) a direct obligation of the United States of America for the payment of which the full faith and credit of the United
States of America is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit
obligation by the United States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of
the Company thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes Act) as
custodian with respect to any U.S. Government Obligation which is specified in Clause (x) above and held by such bank for the
account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any
U.S. Government Obligation which is so specified and held, provided that (except as required by law) such custodian is not
authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by
the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by such
depositary receipt.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>In
the event of an election to have Defeasance and Discharge apply to any &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes or any series of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, as the case may be, the
Company shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from, or there
has been published by, the Internal Revenue Service a ruling or (ii) since the date of this instrument, there has been a
change in the applicable Federal income tax law, in either case (i) or (ii) to the effect that, and based thereon such
opinion shall confirm that, the holders of such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes will not recognize gain or loss for Federal income tax purposes as a
result of the deposit, Defeasance and discharge to be effected with respect to such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes and will be subject to Federal
income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and
discharge were not to occur.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Page; Sequence: 94 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>
In the event of an election to have Covenant Defeasance apply to any &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes or any series of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, as the case may be, the
Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the holders of such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes will not
recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with
respect to such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes and will be subject to Federal income tax on the same amount, in the same manner and at the same times
as would be the case if such deposit and Covenant Defeasance were not to occur.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>The
Company shall have delivered to the Trustee an Officers&#8217; Certificate to the effect that neither such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes nor any
other &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of the same series, if then listed on any &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes exchange, will be delisted as a result of such
deposit.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>No
event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes or any
other &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified, at
any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be
deemed satisfied until after such 90th day).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest within the meaning of
the Trust Indenture Act (assuming all &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes are in default within the meaning of such Act).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any
other agreement or instrument to which the Company is a party or by which it is bound.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment
company within the meaning of the Investment Company Act unless such trust shall be registered under the Investment Company Act
or exempt from registration thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>No
event or condition shall exist that would prevent the Company from making payments of the principal of (and any premium) or
interest on the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes of such series on the date of such deposit or at any time on or prior to the 90th day after the date of
such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The Company shall have delivered to the Trustee an Officers&#8217; Certificate and an Opinion of Counsel, each stating
that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">(k)
The Company shall have delivered to the Trustee an Opinion of Counsel substantially to the effect that <FONT STYLE="font-size: 10pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>the
trust funds deposited pursuant hereto will not be subject to any rights of any holders of indebtedness or equity of the
Company, and (ii) after the 90th day following the deposit, the trust funds will not be subject to the effect of any
applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors&#8217; rights generally, except that if
a court were to rule under any such law in any case or proceeding that the trust funds remained property of the Company, no
opinion is given as to the effect of such laws on the trust funds except the following: (A) assuming such trust funds
remained in the possession of the trustee with whom such funds were deposited prior to such court ruling to the extent not
paid to holders of such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, such trustee would hold, for the benefit of such holders, a valid and perfected security
interest in such trust funds that is not avoidable in bankruptcy or otherwise and (B) such holders would be entitled to
receive adequate protection of their interests in such trust funds if such trust funds were used.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 95 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">APPENDIX
B &#8212; DESCRIPTION OF RATINGS<SUP>1</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">A
rating of a rating service represents the service&#8217;s opinion as to the credit quality of the security being rated. However,
the ratings are general and are not absolute standards of quality or guarantees as to the creditworthiness of an issuer. Consequently,
Calamos believes that the quality of debt securities in which the Fund invests should be continuously reviewed. A rating is not
a recommendation to purchase, sell or hold a security, because it does not take into account market value or suitability for a
particular investor. When a security has received a rating from more than one service, each rating should be evaluated independently.
Ratings are based on current information furnished by the issuer or obtained by the ratings services from other sources that they
consider reliable. Ratings may be changed, suspended or withdrawn as a result of changes in or unavailability of such information,
or for other reasons.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
following is a description of the characteristics of ratings used by Moody&#8217;s Investors Service (&#8220;Moody&#8217;s&#8221;)
and Standard &amp; Poor&#8217;s Corporation, a division of The McGraw-Hill Companies (&#8220;S&amp;P&#8221;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Moody&#8217;s
Global Short-Term Rating Scale</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>P-1</U>:
</I>Issuers (or supporting institutions) rated Prime-1 have a superior ability to repay short-term debt obligations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>P-2</U>:
</I>Issuers (or supporting institutions) rated Prime-2 have a strong ability to repay short-term debt obligations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>P-3</U>:
</I>Issuers (or supporting institutions) rated Prime-3 have an acceptable ability to repay short-term obligations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>NP</U>:
</I>Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Moody&#8217;s
Global Long-Term Rating Scale</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>Aaa</U>:
</I>Obligations rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>Aa</U>:
</I>Obligations rated Aa are judged to be of high quality and are subject to very low credit risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>A</U>:
</I>Obligations rated A are judged to be upper-medium grade and are subject to low credit risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>Baa</U>:
</I>Obligations rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative
characteristics.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>Ba</U>:
</I>Obligations rated Ba are judged to be speculative and are subject to substantial credit risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>B</U>:
</I>Obligations rated B are considered speculative and are subject to high credit risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>Caa</U>:
</I>Obligations rated Caa are judged to be speculative of poor standing and are subject to very high credit risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">The ratings indicated herein
are believed to be the most recent ratings available at the date of this prospectus for the securities listed. Ratings are generally
given to securities at the time of issuance. While the rating agencies may from time to time revise such ratings, they undertake
no obligation to do so, and the ratings indicated do not necessarily represent ratings which will be given to these securities
on the date of the Fund&#8217;s fiscal year-end.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Page; Sequence: 96; Options: NewSection -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>Ca</U>:
</I>Obligations rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal
and interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>C</U>:
</I>Obligations rated C are the lowest rated and are typically in default, with little prospect for recovery of principal or interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>Note</U>:
</I>Moody&#8217;s appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. The modifier
1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking;
and the modifier 3 indicates a ranking in the lower end of that generic rating category. Additionally, a &#8220;(hyb)&#8221; indicator
is appended to all ratings of hybrid securities issued by banks, insurers, finance companies, and securities firms.*</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">S&amp;P
Short-Term Issue Credit Ratings</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>A-1</U>:
</I>A short-term obligation rated &#8216;A-1&#8217; is rated in the highest category by S&amp;P Global Ratings. The obligor&#8217;s
capacity to meet its financial commitments on the obligation is strong. Within this category, certain obligations are designated
with a plus sign (+). This indicates that the obligor&#8217;s capacity to meet its financial commitments on these obligations
is extremely strong.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>A-2</U>:
</I>A short-term obligation rated &#8216;A-2&#8217; is somewhat more susceptible to the adverse effects of changes in circumstances
and economic conditions than obligations in higher rating categories. However, the obligor&#8217;s capacity to meet its financial
commitments on the obligation is satisfactory.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>A-3</U>:
</I>A short-term obligation rated &#8216;A-3&#8217; exhibits adequate protection parameters. However, adverse economic conditions
or changing circumstances are more likely to weaken an obligor&#8217;s capacity to meet its financial commitments on the obligation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>B</U>:
</I>A short-term obligation rated &#8216;B&#8217; is regarded as vulnerable and has significant speculative characteristics.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">The
obligor currently has the capacity to meet its financial commitments; however, it faces major ongoing uncertainties that could
lead to the obligor&#8217;s inadequate capacity to meet its financial commitments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>C</U>:
</I>A short-term obligation rated &#8216;C&#8217; is currently vulnerable to nonpayment and is dependent upon favorable business,
financial, and economic conditions for the obligor to meet its financial commitments on the obligation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>D</U>:
</I>A short-term obligation rated &#8216;D&#8217; is in default or in breach of an imputed promise. For non-hybrid capital instruments,
the &#8216;D&#8217; rating category is used when payments on an obligation are not made on the date due, unless S&amp;P Global
Ratings believes that such payments will be made within any stated grace period. However, any stated grace period longer than
five business days will be treated as five business days. The &#8216;D&#8217; rating also will be used upon the filing of a bankruptcy
petition or the taking of a similar action and where default on an obligation is a virtual certainty, for example due to automatic
stay provisions. A rating on an obligation is lowered to &#8216;D&#8217; if it is subject to a distressed exchange offer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">S&amp;P
Long-Term Issue Credit Ratings*</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Issue
credit ratings are based, in varying degrees, on S&amp;P Global Ratings analysis of the following considerations:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 91.25pt"><FONT STYLE="font-size: 10pt">The
                                         likelihood of payment &#8211; the capacity and willingness of the obligor to meet its
                                         financial commitment on a financial obligation in accordance with the terms of the obligation;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">*<FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>By
their terms, hybrid securities allow for the omission of scheduled dividends, interest, or principal payments, which can
potentially result in impairment if such an omission occurs. Hybrid securities may also be subject to contractually allowable
write-downs of principal that could result in impairment. Together with the hybrid indicator, the long-term obligation rating
assigned to a hybrid security is an expression of the relative credit risk associated with that security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 97 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">The
                                         nature and provisions of the financial obligation, and the promise we impute; and</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD><TD STYLE="font-size: 10pt; padding-right: 44.65pt"><FONT STYLE="font-size: 10pt">The
                                         protection afforded by, and relative position of, the financial obligation in the event
                                         of a bankruptcy, reorganization, or other arrangement under the laws of bankruptcy and
                                         other laws affecting creditors&#8217; rights.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">An
issue rating is an assessment of default risk, but may incorporate an assessment of relative seniority or ultimate recovery in
the event of default. Junior obligations are typically rated lower than senior obligations, to reflect lower priority in bankruptcy,
as noted above. (Such differentiation may apply when an entity has both senior and subordinated obligations, secured and unsecured
obligations, or operating company and holding company obligations.)</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>AAA</U>:
</I>An obligation rated &#8216;AAA&#8217; has the highest rating assigned by S&amp;P Global Ratings. The obligor&#8217;s capacity
to meet its financial commitments on the obligation is extremely strong.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>AA</U>:
</I>An obligation rated &#8216;AA&#8217; differs from the highest rated obligations only to a small degree. The obligor&#8217;s
capacity to meet its financial commitments on the obligation is very strong.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>A</U>:
</I>An obligation rated &#8216;A&#8217; is somewhat more susceptible to the adverse effects of changes in circumstances and economic
conditions than obligations in higher rated categories. However, the obligor&#8217;s capacity to meet its financial commitments
on the obligation is still strong.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><I><U>BBB</U>:
</I>An obligation rated &#8216;BBB&#8217; exhibits adequate protection parameters. However, adverse economic conditions or changing
circumstances are more likely to weaken an obligor&#8217;s capacity to meet its financial commitments on the obligation.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>BB,
B, CCC, CC, and C:</U></I> Obligations rated &#8216;BB&#8217;, &#8216;B&#8217;, &#8216;CCC&#8217;, &#8216;CC&#8217;, and &#8216;C&#8217;
are regarded as having significant speculative characteristics. &#8216;BB&#8217; indicates the least degree of speculation and
 &#8216;C&#8217; the highest. While such obligations will likely have some quality and protective characteristics, these may be
outweighed by large uncertainties or major exposure to adverse conditions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>BB</U>:
</I>An obligation rated &#8216;BB&#8217; is less vulnerable to nonpayment than other speculative issues. However, it faces major
ongoing uncertainties or exposure to adverse business, financial, or economic conditions that could lead to the obligor&#8217;s
inadequate capacity to meet its financial commitments on the obligation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I><U>B</U>:
</I>An obligation rated &#8216;B&#8217; is more vulnerable to nonpayment than obligations rated &#8216;BB&#8217;, but the obligor
currently has the capacity to meet its financial commitments on the obligation. Adverse business, financial, or economic conditions
will likely impair the obligor&#8217;s capacity or willingness to meet its financial commitments on the obligation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>CCC</U>:
</I>An obligation rated &#8216;CCC&#8217; is currently vulnerable to nonpayment, and is dependent upon favorable business, financial,
and economic conditions for the obligor to meet its financial commitments on the obligation. In the event of adverse business,
financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitments on the obligation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>CC</U>:
</I>An obligation rated &#8216;CC&#8217; is currently highly vulnerable to nonpayment. The &#8216;CC&#8217; rating is used when
a default has not yet occurred but S&amp;P Global Ratings expects default to be a virtual certainty, regardless of the anticipated
time to default.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I><U>C</U>:
</I>An obligation rated &#8216;C&#8217; is currently highly vulnerable to nonpayment, and the obligation is expected to have lower
relative seniority or lower ultimate recovery compared with obligations that are rated higher.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 98 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><I><U>D</U>:
</I>An obligation rated &#8216;D&#8217; is in default or in breach of an imputed promise. For non-hybrid capital instruments,
the &#8216;D&#8217; rating category is used when payments on an obligation are not made on the date due, unless S&amp;P Global
Ratings believes that such payments will be made within five business days in the absence of a stated grace period or within the
earlier of the stated grace period or 30 calendar days. The &#8216;D&#8217; rating also will be used upon the filing of a bankruptcy
petition or the taking of similar action and where default on an obligation is a virtual certainty, for example due to automatic
stay provisions. An obligation&#8217;s rating is lowered to &#8216;D&#8217; if it is subject to a distressed exchange offer.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; text-indent: 0.25in; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt"><I><U>*
</U></I>Ratings from &#8216;AA&#8217; to &#8216;CCC&#8217; may be modified by the addition of a plus (+) or minus (-) sign to
show relative standing within the rating categories.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">NR
indicates that a rating has not been assigned or is no longer assigned.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">Local
Currency and Foreign Currency Ratings</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-size: 10pt">S&amp;P
Global Ratings&#8217; issuer credit ratings make a distinction between foreign currency ratings and local currency ratings. A
foreign currency rating on an issuer will differ from the local currency rating on it when the obligor has a different capacity
to meet its obligations denominated in its local currency versus obligations denominated in a foreign currency.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Page; Sequence: 99 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT><B>PART
C &#8212; OTHER INFORMATION</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in">ITEM 25:</TD><TD>FINANCIAL STATEMENTS AND EXHIBITS</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Financial Statements:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.05pt 0pt 5.7pt; text-indent: 30.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.05pt 0pt 0.5in">Included in Part A:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Financial highlights for the fiscal years October
31, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, and 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Incorporated into Part B by reference to Registrant&#8217;s
most recent Certified Shareholder Report on Form N-CSR, filed</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">December 30, 2020 (File No. 811-21080) (Accession
No. 0001387131-20-012056):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Schedule of Investments as of October 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Statement of Assets and Liabilities as of October
31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Statement of Operations for the year ended October
31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Statements of Changes in Net Assets for the year ended
October 31, 2020 and the year ended October 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Notes to Financial Statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Statement of Cash Flows for the fiscal year ended
October 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Report of Independent Registered Public Accounting
Firm dated December 18, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Exhibits:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><A HREF="tm215399d1_ex99-a1.htm" STYLE="-sec-extract: exhibit">a.1</A></TD><TD><A HREF="tm215399d1_ex99-a1.htm" STYLE="-sec-extract: exhibit">Second Amended and Restated Agreement and Declaration of Trust. (*)</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">a.2</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013702002336/c68995ex99-a_2.txt">Certificate of Trust.</A> (2)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><A HREF="tm215399d1_ex99-b.htm" STYLE="-sec-extract: exhibit">b.</A></TD><TD><A HREF="tm215399d1_ex99-b.htm" STYLE="-sec-extract: exhibit">By-laws, as amended and restated through January 12, 2021. (*)</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">c.</TD><TD>None.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">d.1</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013702003725/c68995a2exv99wd.txt">Form of Common Share Certificate</A>.
(3)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">d.2</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013702004804/c70744a1exv99wd.txt">Form of Preferred Share Certificate</A>.
(5)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">d.3</TD><TD>Form of Note. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">d.4</TD><TD>Indenture of Trust. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">d.5</TD><TD>Form of Supplemental Indenture of Trust. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">e.</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013708002621/c19270a2exv99wxey.htm">Terms and Conditions of
the Dividend Reinvestment Plan.</A> (4)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">f.</TD><TD>None.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">g.</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095012311040739/c64170exv99wg.htm">Investment Management Agreement
with Calamos Advisors LLC.</A> (7)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">h.1</TD><TD>Form of Underwriting Agreement relating to Common Shares. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">h.2</TD><TD>Form of Master Agreement Among Underwriters relating to Common Shares. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">h.3</TD><TD>Form of Master Selected Dealers Agreement relating to Common Shares. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">h.4</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013708002621/c19270a2exv99wxhyx4y.htm">Form of Underwriting
Agreement relating to Preferred Shares.</A> (4)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">h.5</TD><TD>Form of Underwriting Agreement relating to Notes. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">h.6</TD><TD STYLE="padding-right: 39.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312514430976/d720300dex99h6.htm">Sales
Agreement relating to Common Shares dated December 2, 2014, among Registrant, Calamos Advisors LLC and JonesTrading Institutional
Services LLC.</A> (9)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">h.7</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312519073090/d680490dex99h7.htm">Distribution Agreement relating
to Common Shares dated March 8, 2019, between Registrant and Foreside Fund Services, LLC.</A> (14)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">h.8</TD><TD STYLE="padding-right: 39.55pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312519073090/d680490dex99h8.htm">Sub-Placement
Agent Agreement relating to Common Shares dated March 8, 2019, between Foreside Fund Services, LLC and UBS Securities LLC.</A>
(14)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">i.</TD><TD>None.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">j.1</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095012310022653/c55756exexv99wjw1.htm">Custody Agreement.</A> (6)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">j.2</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095012311040739/c64170exv99wjw2.htm">Amendment to Appendix A to
Custody Agreement</A>. (7)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.1.i</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095012311040739/c64170exv99wkw1.htm">Stock Transfer Agency Agreement.</A>
(7)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.1.ii</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312516481938/d112228dex99k1ii.htm">Amendment, dated December
30, 2011, to Stock Transfer Agency Agreement.</A> (11)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.1.iii</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312518358993/d680490dex99k13.htm">Amendment, dated March 20,
2015, to Stock Transfer Agency Agreement.</A> (12)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.1.iv</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312518358993/d680490dex99k14.htm">Amendment, dated September
6, 2017, to Stock Transfer Agency Agreement.</A> (12)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.1.v</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312518358993/d680490dex99k15.htm">Amendment, dated October 18,
2017, to Stock Transfer Agency Agreement.</A> (12)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.2</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013708002621/c19270a2exv99wxkyx3y.htm">Master Services Agreement.</A>
(4)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.3</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095012311040739/c64170exv99wkw4.htm">Amendment to Appendix A to
Master Services Agreement</A>. (7)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.4</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312518358993/d680490dex99k4.htm">Administration Agreement.</A>
(12)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.5</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312518358993/d680490dex99k5.htm">Services Agreement.</A> (12)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.6</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013702004804/c70744a1exv99wkw3.txt">Form of Auction Agency Agreement
relating to Preferred Shares.</A> (5)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.7</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013702004804/c70744a1exv99wkw4.txt">Form of Broker &#8212; Dealer
Agreement relating to Preferred Shares.</A> (5)</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 100 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.8</TD><TD>Form of Auction Agency Agreement relating to Notes. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.9</TD><TD>Form of Broker &#8212; Dealer Agreement relating to Notes. (1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">k.10</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095013708002621/c19270a2exv99wxkyx8y.htm">Form of DTC Representations
Letter relating to Preferred Shares and Notes.</A> (4)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">l.1</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312514430976/d720300dex99l1.htm">Opinion of K&amp;L Gates LLP
regarding Common Shares.</A> (9)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">l.2</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312514430976/d720300dex99l2.htm">Opinion of Morris, Nichols,
Arsht &amp; Tunnell LLP regarding Common Shares</A>. (9)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">l.3</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312514425681/d720300dex99l.htm">Opinion of Morris, Nichols,
Arsht &amp; Tunnell LLP regarding shelf registration.</A> (8)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">l.4</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312519048472/d680490dex99l4.htm">Opinion of Richards, Layton
 &amp; Finger, P.A. regarding Common Shares</A>. (13)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">m.</TD><TD>None.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><A HREF="tm215399d1_ex99-n.htm" STYLE="-sec-extract: exhibit">n.</A></TD><TD><A HREF="tm215399d1_ex99-n.htm" STYLE="-sec-extract: exhibit">Consent of Auditors. (*)</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">o.</TD><TD>Not applicable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">p.</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000095012311040739/c64170exv99wp.htm">Subscription Agreement.</A>
(7)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">q.</TD><TD>None.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><A HREF="tm215399d1_ex99-r1.htm" STYLE="-sec-extract: exhibit">r.1</A></TD><TD><A HREF="tm215399d1_ex99-r1.htm" STYLE="-sec-extract: exhibit">Code of Ethics. (*)</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">s.1</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312515070124/d850473dex99s.htm">Powers of Attorney for John
E. Neal and William R. Rybak</A>. (10)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">s.2</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312516481938/d112228dex99s2.htm">Power of Attorney for Virginia
G. Breen.</A> (11)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">s.3</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312518358993/d680490dex99s3.htm">Power of Attorney for Lloyd
A. Wennlund.</A> (12)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">s.4</TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1171471/000119312520044513/d761782dex99s4.htm">Power of Attorney for Karen
L. Stuckey and Christopher M. Toub</A> (15).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>To be filed by amendment.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="padding-right: 10.9pt">Incorporated by reference to Registrant&#8217;s initial Registration Statement on Form N-2 (1933
Act File No. 333-86678) as filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on April 22, 2002.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="padding-right: 28.75pt">Incorporated by reference to Registrant&#8217;s Registration Statement on Form N-2 (1933 Act
File No. 333-86678) as filed with the Commission on June 21, 2002.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="padding-right: 14.3pt">Incorporated by reference to Pre-Effective Amendment No. 2 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-146945) as filed with the SEC on February 22, 2008.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="padding-right: 8.85pt">Incorporated by reference to Pre-Effective Amendment No. 1 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-96997) as filed with the SEC on September 9, 2002.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="padding-right: 10.65pt">Incorporated by reference to Post-Effective Amendment No. 5 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-146945) as filed with the SEC on March 9, 2010.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(7)</TD><TD STYLE="padding-right: 30.05pt">Incorporated by reference to Registrant&#8217;s initial Registration Statement on Form N-2 (1933
Act File No. 333-173767) as filed with the SEC on April 28, 2011.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(8)</TD><TD STYLE="padding-right: 14.3pt">Incorporated by reference to Pre-Effective Amendment No. 2 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-196373) as filed with the SEC on November 25, 2014.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(9)</TD><TD STYLE="padding-right: 10.65pt">Incorporated by reference to Post-Effective Amendment No. 1 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-196373) as filed with the SEC on December 2, 2014.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(10)</TD><TD STYLE="padding-right: 10.65pt">Incorporated by reference to Post-Effective Amendment No. 2 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-196373) as filed with the SEC on February 27, 2015.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(11)</TD><TD STYLE="padding-right: 10.65pt">Incorporated by reference to Post-Effective Amendment No. 3 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-196373) as filed with the SEC on February 26, 2016.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(12)</TD><TD STYLE="padding-right: 30.05pt">Incorporated by reference to Registrant&#8217;s initial Registration Statement on Form N-2 (1933
Act File No. 333-229042) as filed with the SEC on December 27, 2018.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(13)</TD><TD STYLE="padding-right: 14.3pt">Incorporated by reference to Pre-Effective Amendment No. 1 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-229042) as filed with the SEC on February 22, 2019.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(14)</TD><TD STYLE="padding-right: 10.65pt">Incorporated by reference to Post-Effective Amendment No. 1 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-229042) as filed with the SEC on March 13, 2019.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(15)</TD><TD STYLE="padding-right: 10.65pt">Incorporated by reference to Post-Effective Amendment No. 2 to Registrant&#8217;s Registration
Statement on Form N-2 (1933 Act File No. 333-229042) as filed with the SEC on February 21, 2020.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #231F20">(*)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed
herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.65pt 0pt 1in; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in">ITEM 26:</TD><TD>MARKETING ARRANGEMENTS</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt"></P>

<!-- Field: Page; Sequence: 101 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in">ITEM 27:</TD><TD>OTHER OFFERING EXPENSES AND DISTRIBUTION</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">The following table sets forth the estimated expenses
to be incurred in connection with all offerings described in this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; font-size: 10pt; text-align: left">Registration fees</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">10,910</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Printing (other than certificates)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">30,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">FINRA fees</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Accounting fees and expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Legal fees and expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">120,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Miscellaneous</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,090</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">174,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in">ITEM 28.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> PERSONS CONTROLLED BY OR UNDER COMMON CONTROL</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">None.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in">ITEM 29.</TD><TD>NUMBER OF HOLDERS OF SECURITIES</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">As of January 31, 2021, the number of record holders
of each class of securities of the Registrant was</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">TITLE OF CLASS</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold">NUMBER OF RECORD HOLDERS</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; font-size: 10pt">Common shares (no par value)</TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">66</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Series A Mandatory Redeemable Preferred Shares</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Series B Mandatory Redeemable Preferred Shares</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Series C Mandatory Redeemable Preferred Shares</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 98.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in">ITEM 30.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> INDEMNIFICATION</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.35pt 0pt 5.7pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">The Registrant&#8217;s
Second Amended and Restated Agreement and Declaration of Trust (the &#8220;Declaration&#8221;), dated January 12, 2021, provides
that every person who is, or has been, a Trustee or an officer, employee or agent of the Registrant (including any individual who
serves at its request as director, officer, partner, employee, Trustee, agent or the like of another organization in which it has
any interest as a shareholder, creditor or otherwise (&#8220;Covered Person&#8221;)) shall be indemnified by the Registrant or
the appropriate series of the Registrant to the fullest extent permitted by law against liability and against all expenses reasonably
incurred or paid by him in connection with any claim, action, suit or proceeding in which he becomes involved as a party or otherwise
by virtue of his being or having been a Covered Person and against amounts paid or incurred by him in the settlement thereof; provided
that no indemnification shall be provided to a Covered Person (i) who shall have been adjudicated by a court or body before which
the proceeding was brought (A) to be liable to the Registrant or its shareholders by reason of willful misfeasance, bad faith,
gross negligence or reckless disregard of the duties involved in the conduct of his office, or (B) not to have acted in good faith
and in a manner the person reasonably believed to be or not opposed to the best interests of the Registrant; or (ii) in the event
of a settlement, unless there has been a determination that such Covered Person did not engage in willful misfeasance, bad faith,
gross negligence or reckless disregard of the duties involved in the conduct of his office; (A) by the court or other body approving
the settlement; (B) by at least a majority of those Trustees who are neither Interested Persons of the Trust nor are parties to
the matter based upon a review of readily available facts (as opposed to a full trial-type inquiry); (C) by written opinion of
independent legal counsel based upon a review of readily available facts (as opposed to a full trial-type inquiry) or (D) by a
vote of a majority of the Outstanding Shares entitled to vote (excluding any Outstanding Shares owned of record or beneficially
by such individual).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">The Declaration also provides
that if any shareholder or former shareholder of the Registrant shall be held personally liable solely by reason of his being or
having been a shareholder and not because of his acts or omissions or for some other reason, the shareholder or former shareholder
(or his heirs, executors, administrators or other legal representatives or in the case of any entity, its general successor) shall
be entitled out of the assets belonging to the Registrant to be held harmless from and indemnified against all loss and expense
arising from such liability. The Registrant shall, upon request by such shareholder, assume the defense of any claim made against
such shareholder for any act or obligation of the series and satisfy any judgment thereon from the assets of the series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">The Registrant, its Trustees
and officers, its investment adviser, the other investment companies advised by the adviser and certain persons affiliated with
them are insured, within the limits and subject to the limitations of the insurance, against certain expenses in connection with
the defense of actions, suits or proceedings, and certain liabilities that might be imposed as a result of such actions, suits
or proceedings. The insurance expressly excludes coverage for any Trustee or officer whose personal dishonesty, fraudulent breach
of trust, lack of good faith, or intention to deceive or defraud has been finally adjudicated or may be established or who willfully
fails to act prudently.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">Section 8 of the Distribution
Agreement and Section 5 of the Sub-Placement Agent Agreement, previously filed as Exhibit h.7 and Exhibit h.8 to this Registration
Statement, respectively, provide for each of the parties thereto, including the Registrant and/or the underwriters, to indemnify
the other parties, their officers, trustees, directors and persons who control them against certain liabilities in connection with
the offering described herein, including liabilities under the federal securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt"></P>

<!-- Field: Page; Sequence: 102 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">Insofar as
indemnification for liability arising under the Securities Act of 1933, as amended (the &#8220;1933 Act&#8221;), may be
available to Trustees, officers, controlling persons of the Registrant and underwriter, pursuant to the foregoing provisions,
or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public
policy as expressed in the 1933 Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant&#8217;s expenses incurred or paid by a Trustee, officer or
controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such
Trustee, officer, controlling person or underwriter in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the 1933 Act and will
be governed by the final adjudication of such issue.</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in">ITEM 31.</TD><TD>BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.35pt 0pt 5.7pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">The information in the
Statement of Additional Information under the caption &#8220;Management of the Fund&#8212;Trustees and Officers&#8221; is incorporated
by reference.</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in">ITEM 32.</TD><TD>LOCATION OF ACCOUNTS AND RECORDS</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.9pt 0pt 5.7pt; text-align: justify; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 22.95pt">All
such accounts, books, and other documents are maintained at the offices of the Registrant, at the offices of the Registrant&#8217;s
investment manager, Calamos Advisors LLC 2020 Calamos Court, Naperville, Illinois 60563, at the offices of the Custodian and Accounting
Agent, 200 Clarendon Street, P.O. Box 9130, Boston, Massachusetts 02117-9130, or at the offices of the Transfer Agent, P.O. Box
358016, Pittsburgh, PA 15252-8016.</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in">ITEM 33.</TD><TD>MANAGEMENT SERVICES</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.7pt">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 63.15pt">ITEM 34.</TD><TD>UNDERTAKINGS</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.05pt 0pt 5.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 23pt">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The Registrant undertakes to suspend the offering of shares until the prospectus is amended if (1) subsequent to the effective
date of its registration statement, the net asset value declines more than ten percent from its net asset value as of the effective
date of the registration statement or (2) the net asset value increases to an amount greater than its net proceeds as stated in
the prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.7pt"></TD><TD STYLE="width: 9.35pt">2.</TD><TD>Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.7pt"></TD><TD STYLE="width: 9.35pt">3.</TD><TD>Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 28.7pt">4.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The securities being registered will be offered on a delayed or continuous basis in reliance on Rule 415 under the 1933
Act. Accordingly, the Registrant undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.95pt 0pt 5.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 28.7pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>to file a post-effective amendment to this registration statement, during any period in which offers or sales are being
made, in accordance with no-action relief granted to the Registrant on February 14, 2011:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.95pt 0pt 5.7pt; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51.7pt"></TD><TD STYLE="width: 13.2pt">(1)</TD><TD>to include any prospectus required by Section 10(a)(3) of the 1933 Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.95pt 0pt 28.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.95pt 0pt 28.7pt; text-indent: 23pt">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>to reflect in the prospectus any facts or events after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.45pt 0pt 28.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.45pt 0pt 28.7pt; text-indent: 23pt">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>to include any material information with respect to the plan of distribution not previously disclosed in the registration
statement or any material change to such information in the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.4pt 0pt 5.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 28.7pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>that, for the purpose of determining any liability under the 1933 Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of those securities at that time
shall be deemed to be the initial bona fide offering thereof; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.6pt 0pt 5.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 28.7pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold
at the termination of the offering;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.6pt 0pt 5.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 28.7pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>that, for the purpose of determining liability under the 1933 Act to any purchaser,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 28.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51.65pt"></TD><TD STYLE="width: 13.25pt">(1)</TD><TD STYLE="padding-right: 9.6pt">if the Registrant is subject to Rule 430B:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 65pt; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51.75pt"></TD><TD STYLE="width: 13.25pt">&#8226;</TD><TD>Each prospectus filed by the Registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement
as of the date the filed prospectus was deemed part of and included in the registration statement; and</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.6pt 0pt 65pt">&nbsp;</P>

<!-- Field: Page; Sequence: 103 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.6pt 0pt 65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 51.75pt"></TD><TD STYLE="width: 13.25pt">&#8226;</TD><TD STYLE="padding-right: 9.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each prospectus required to be filed
pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering
made pursuant to Rule 415(a)(1)(i), (x), or (xi) under the Securities Act for the purpose of providing the information required
by Section 10 (a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier
of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering
described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date
an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in
the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus
that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior
to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part
of the registration statement or made in any such document immediately prior to such effective date; or</FONT></TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.6pt 0pt 65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51.65pt"></TD><TD STYLE="width: 13.25pt">(2)</TD><TD STYLE="padding-right: 9.6pt">if the Registrant is subject to Rule 430C: each prospectus filed pursuant to Rule 424(b) under
the 1933 Act as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B
or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement
as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus
that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior
to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of
the registration statement or made in any such document immediately prior to such date of first use.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.7pt"></TD><TD STYLE="width: 12.7pt">(e)</TD><TD>that for the purpose of determining liability of the Registrant under the 1933 Act to any purchaser in the initial distribution
of securities:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">The undersigned Registrant
undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless
of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser
by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered
to offer or sell such securities to the purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.85pt 0pt 28.7pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 28.7pt; text-indent: 22.95pt">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant
to Rule 424 under the 1933 Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.85pt 0pt 28.7pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 28.7pt; text-indent: 22.95pt">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred
to by the undersigned Registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 28.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 28.7pt; text-indent: 22.95pt">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>the portion of any other free writing prospectus or advertisement pursuant to Rule 482 under the 1933 Act relating to the
offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned
Registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 28.7pt; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51.7pt"></TD><TD STYLE="width: 13.2pt">(4)</TD><TD>any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 23pt">5.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>(a) For the purposes of determining any liability under the 1933 Act, the information omitted from the form of prospectus
filed as part of a registration statement in reliance upon Rule 430A and contained in the form of prospectus filed by the Registrant
under Rule 424(b)(1) under the 1933 Act shall be deemed to be part of the Registration Statement as of the time it was declared
effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.7pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 23pt">(b) For the purpose of determining
any liability under the 1933 Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of the securities at that time shall be deemed
to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.15pt 0pt 5.7pt; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 23pt">6.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The Registrant undertakes to send by first class mail or other means designed to ensure equally prompt delivery within two
business days of receipt of a written or oral request any prospectus or statement of additional information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.4pt 0pt 28.7pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.4pt 0pt 28.7pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 104 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.4pt 0pt 28.7pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.65pt 0pt 5.7pt; text-indent: 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 22.95pt">Pursuant to the requirements
of the Securities Act of 1933, as amended (&#8220;1933 Act&#8221;) and the Investment Company Act of 1940, as amended, the Registrant
certifies that it meets all of the requirements for effectiveness of this registration statement under Rule 486(b) under the 1933
Act as applied by no-action relief granted by the staff of the U.S. Securities and Exchange Commission on February 14, 2011, and
has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City
of Naperville, and State of Illinois, on the 19th day of February, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>CALAMOS CONVERTIBLE OPPORTUNITIES AND INCOME FUND</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">/s/ John P. Calamos, Sr. &nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; padding-left: 0.1in; font-size: 10pt">&nbsp;</TD>
<TD STYLE="vertical-align: top">John P. Calamos, Sr. <BR>
Trustee and President &nbsp;</TD>
</TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 45%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Pursuant to the requirements of the 1933
Act, this registration statement has been signed below by the following persons in the capacities and on the date(s) indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 41%; padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 35%; padding-left: 0.1in; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 9%; padding-left: 0.1in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-left: 0.1in; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ John P. Calamos, Sr.</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John P. Calamos, Sr.</P></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Trustee and President (principal executive officer)</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">February&nbsp;19,&nbsp;2021</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ John E. Neal*</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John E. Neal</P></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">February&nbsp;19,&nbsp;2021</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ William Rybak*</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">William Rybak</P></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">February&nbsp;19,&nbsp;2021</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Virginia G. Breen*</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Virginia G. Breen</P></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">February&nbsp;19,&nbsp;2021</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Lloyd A. Wennlund*</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lloyd A. Wennlund</P></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">February&nbsp;19,&nbsp;2021</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Karen L. Stuckey*</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Karen L. Stuckey</P></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">February&nbsp;19,&nbsp;2021</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Christopher M. Toub*</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Christopher M. Toub</P></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">February&nbsp;19,&nbsp;2021</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Thomas E. Herman</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Thomas E. Herman</P></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Vice President and Chief Financial Officer</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">February&nbsp;19,&nbsp;2021</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John P. Calamos,
Sr. signs this document pursuant to powers of attorney filed in Post-Effective Amendment No.&nbsp;2 to Registrant&#8217;s Registration
Statement (1933 Act File No. 333-175076) as filed with the Commission on February 20, 2013; Post-Effective Amendment No. 3 to Registrant&#8217;s
Registration Statement (1933 Act File No. 333-196373) as filed with the Commission on February 26, 2016; Registrant&#8217;s initial
Registration Statement on Form N-2 (1933 Act File No. 333-229042) as filed with the Commission on December 27, 2018 and Post-Effective
Amendment No. 2 to Registrant&#8217;s Registration Statement on Form N-2 (1933 Act File No. 333-229042) as filed with the SEC on
February 21, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
<TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 45%">/s/ John&nbsp;P.&nbsp;Calamos,&nbsp;Sr. &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD STYLE="padding-left: 0.1in; font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">John P. Calamos, Sr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD STYLE="padding-left: 0.1in; font-size: 10pt">&nbsp;</TD>
<TD>Attorney-in-Fact <BR>
February&nbsp;19, 2021 &nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.35pt 0pt 50.2pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.35pt 0pt 50.2pt; text-align: center"></P>

<!-- Field: Page; Sequence: 105 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.35pt 0pt 50.2pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.35pt 0pt 50.2pt; text-align: center"><B>INDEX TO EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 10%"><FONT STYLE="font-size: 10pt"><U>Exhibit</U></FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 90%; text-align: left"><FONT STYLE="font-size: 10pt"><U>Exhibit
    Name</U></FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="tm215399d1_ex99-a1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">a.1.</FONT></A></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="tm215399d1_ex99-a1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Second Amended and Restated Agreement and Declaration of Trust.</FONT></A></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="tm215399d1_ex99-b.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">b.</FONT></A></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="tm215399d1_ex99-b.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">By-laws, as amended and restated through January 12, 2021.</FONT></A></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="tm215399d1_ex99-n.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">n.</FONT></A></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="tm215399d1_ex99-n.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Consent of Auditors.</FONT></A></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="tm215399d1_ex99-r1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">r.1&nbsp;</FONT></A></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="tm215399d1_ex99-r1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Code of Ethics.</FONT></A></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 106; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A1
<SEQUENCE>2
<FILENAME>tm215399d1_ex99-a1.htm
<DESCRIPTION>EXHIBIT A1
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right">E<FONT STYLE="text-transform: lowercase">xhibit
</FONT>99.<FONT STYLE="text-transform: lowercase">a</FONT>.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">Calamos
convertible opportunities and income fund</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">Second AMENDED
AND RESTATED</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Agreement
and Declaration of Trust</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">This SECOND AMENDED
AND RESTATED AGREEMENT AND DECLARATION OF TRUST is made on January 12, 2021, by the Trustees hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">WHEREAS, the Trust
has been formed under the Delaware Act upon the filing of the Certificate of Trust in the Office of the Secretary of State of the
State of Delaware;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">WHEREAS, the Trustees
amended and restated the Trust&#8217;s original declaration of trust in its entirety on September 13, 2006 as the Amended and Restated
Agreement and Declaration of Trust; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">WHEREAS, the Trustees
desire to further amend and restate such Amended and Restated Agreement and Declaration of Trust in its entirety as set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">NOW, THEREFORE, the
Trustees declare that all money and property contributed to the Trust shall be held and managed <FONT STYLE="text-transform: uppercase">in
trust</FONT> pursuant to this Second Amended and Restated Agreement and Declaration of Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
I<BR>
<BR>
NAME AND DEFINITIONS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Name</U>.
The name of the Trust is &#8220;Calamos Convertible Opportunities and Income Fund&#8221; and the Trustees shall conduct the business
of the Trust under that name or any other name or names as they may from time to time determine.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Definitions</U>.
Unless otherwise provided or required by the context:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&#8220;Administrator&#8221; means the party, other than the Trust, to the contract described
in Article&nbsp;III, Section&nbsp;3 hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&#8220;By-Laws&#8221; means the By-Laws of the Trust adopted by the Trustees, as amended from
time to time, which By-Laws are expressly herein incorporated by reference as part of the &#8220;governing instrument&#8221; within
the meaning of the Delaware Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Class&#8221;
means any class of Shares of any Series established and designated under or in accordance with the provisions of Article&nbsp;V.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt">&#8220;Commission,&#8221;
 &#8220;Interested Person&#8221; and &#8220;Principal Underwriter&#8221; have the meanings provided in the 1940 Act. Except as
such term may be otherwise defined by the Trustees in conjunction with the establishment of any Series of Shares, the term
 &#8220;vote of a majority of the shares </FONT>outstanding and entitled to vote&#8221; shall have the same meaning as is
assigned to the term &#8220;vote of a majority of the outstanding voting securities&#8221; in the 1940 Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&#8220;Continuing Trustee&#8221; means a Trustee who either (a) has been a member of the Board
of Trustees for a period of at least thirty-six months (or since the commencement of the Trust&#8217;s operations, if less than
thirty-six months) or (b) was nominated to serve as a member of the Board of Trustees, or designated as a Continuing Trustee, by
a majority of the Continuing Trustees then members of the Board of Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Covered
Person&#8221; means a person so defined in Article&nbsp;IV, Section&nbsp;3.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Custodian&#8221;
means any Person other than the Trust who has custody of any Trust Property as required by Section&nbsp;17(f) of the 1940 Act,
but does not include a system for the central handling of securities described in said Section&nbsp;17(f).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Declaration&#8221;
and &#8220;Declaration of Trust&#8221; shall mean this Second Amended and Restated Agreement and Declaration of Trust, as amended
or restated from time to time. Reference in this Declaration of Trust to &#8220;Declaration,&#8221; &#8220;Declaration of Trust,&#8221;
 &#8220;hereof,&#8221; &#8220;herein,&#8221; and &#8220;hereunder&#8221; shall be deemed to refer to this Declaration rather than
exclusively to the article or section in which such words appear.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Delaware Act&#8221; means the Delaware Statutory Trust Act, 12&nbsp;<U>Del</U>. <U>C</U>.
 &sect;&sect;3801, et seq., as amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Distributor&#8221; means the party or parties, other than the Trust, to the contract
described in Article&nbsp;III, Section&nbsp;1 hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;His&#8221;
shall include the feminine and neuter, as well as the masculine, genders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Investment
Adviser&#8221; means the party, other than the Trust, to the contract described in Article&nbsp;III, Section&nbsp;2 hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Net
Asset Value&#8221; means the net asset value of each Series of the Trust, determined as provided in Article&nbsp;VI, Section&nbsp;3.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Person&#8221;
means and includes individuals, corporations, partnerships, trusts, associations, joint ventures, estates and other entities,
whether or not legal entities, and governments and agencies and political subdivisions, thereof, whether domestic or foreign.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&#8220;Securities Act&#8221; means the Securities Act of 1933, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#8220;Series&#8221;
means a series of Shares established and designated under or in accordance with the provisions of Article&nbsp;V, each of which
shall be accounted for and maintained as a separate series or portfolio of the Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&#8220;Shareholder&#8221; means a record owner of Outstanding Shares;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;Shares&#8221; means the equal proportionate transferable units of interest into which the beneficial interest of each Series
and Class, as applicable, of the Trust is divided from time to time (including whole Shares and fractions of Shares). &#8220;Outstanding
Shares&#8221; means Shares shown in the books of the Trust or its transfer agent as then issued and outstanding, but does not
include Shares which have been repurchased or redeemed by the Trust and which are held in the treasury of the Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;Transfer
Agent&#8221; means any Person other than the Trust who maintains the Shareholder records of the Trust, such as the list of Shareholders,
the number of Shares credited to each account, and the like.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;Trust&#8221;
means Calamos Convertible Opportunities and Income Fund established hereby, and reference to the Trust, when applicable to one
or more Series, refers to that Series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;Tru</FONT><FONT STYLE="font-size: 10pt">stee&#8221;
means each person who has signed this Declaration of Trust, so long as he shall continue in office in accordance with the terms
hereof, and all other persons who may from time to time be duly qualified and serving as Trustees in accordance with Article&nbsp;II,
in all cases in their capacities as Trustees hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&#8220;Trust Property&#8221; means any and all property, real or personal, tangible or intangible,
which is from time to time owned or held by or for the account of the Trust or any Series or the Trustees on behalf of the Trust
or any Series, each and every asset of which shall be allocated and belong to a specific series to the exclusion of all other series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(w)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&nbsp;The &#8220;1940 Act&#8221; means the Investment Company Act of 1940, as amended from time
to time, including the rules and regulations of the Commission thereunder and any order or orders thereunder which may from time
to time be applicable to the Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
II<BR>
<BR>
THE TRUSTEES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Management
of the Trust</U>. The business and affairs of the Trust shall be managed by or under the direction of the Trustees, and they shall
have all powers necessary or desirable to carry out that responsibility. The Trustees may execute all instruments and take all
action they deem necessary or desirable to promote the interests of the Trust. Any determination made by the Trustees in good faith
as to what is in the interests of the Trust shall be conclusive. In construing the provisions of this Declaration, the presumption
shall be in favor of a grant of power to the Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Powers</U>.
The Trustees in all instances shall act as principals, free of the control of the Shareholders. The Trustees shall have full
power and authority to take or refrain from taking any action and to execute any contracts and instruments that they may
consider necessary or desirable in the management of the Trust. The Trustees shall not in any way be bound or limited by
current or future laws or customs applicable to trust investments, but shall have full power and authority to make any </FONT>investments
which they, in their sole discretion, deem proper to accomplish the purposes of the Trust. The Trustees may exercise all of
their powers without recourse to any court or other authority. Subject to any applicable limitation herein or in the By-Laws
or resolutions of the Trust, the Trustees shall have power and authority, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To operate as and carry on the business of an investment company, and exercise all the powers
necessary and appropriate to the conduct of such operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To invest in, hold for investment, or reinvest in, cash; securities of any type, including,
but not limited to, common, preferred and preference stocks; warrants; subscription rights; profit-sharing interests or participations
and all other contracts for or evidence of equity interests; bonds, debentures, bills, time notes and all other evidences of indebtedness;
negotiable or non-negotiable instruments; government securities, including securities of any state, municipality or other political
subdivision thereof, or any governmental or quasi-governmental agency or instrumentality; and money market instruments including
bank certificates of deposit, finance paper, commercial paper, bankers&#8217; acceptances and all kinds of repurchase agreements,
of any corporation, company, trust, association, firm or other business organization however established, and of any country, state,
municipality or other political subdivision, or any governmental or quasi-governmental agency or instrumentality; or any other
security, property or instrument in which the Trust or any of its Series shall be authorized to invest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To acquire (by purchase, subscription or otherwise), to hold, to trade in and deal in, to
acquire any rights or options to purchase or sell, to sell or otherwise dispose of, to lend and to pledge any such securities,
to enter into repurchase agreements, reverse repurchase agreements, firm commitment agreements, forward foreign currency exchange
contracts, interest rate mortgage or currency swaps and interest rate caps, floors and collars, to purchase and sell options on
securities, securities indices, currency, swaps and other financial assets, futures contracts and options on futures contracts
of all descriptions and to engage in all types of hedging, risk-management or income enhancement transactions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
exercise all rights, powers and privileges of ownership or interest in all securities, repurchase agreements and other assets
included in the Trust Property, including the right to vote thereon and otherwise act with respect thereto and to do all acts
for the preservation, protection, improvement and enhancement in value of all such securities, repurchase agreements and other
assets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To acquire (by purchase, lease or otherwise)&nbsp;and to hold, use, maintain, develop and
dispose of (by sale or otherwise) any property, real or personal, including cash or foreign currency, and any interest therein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To borrow money or other property in the name of the Trust exclusively for Trust purposes
and in this connection issue notes or other evidence of indebtedness; to secure borrowings by mortgaging, pledging or otherwise
subjecting as security the Trust Property; and to endorse, guarantee, or undertake the performance of any obligation or engagement
of any other Person and to lend Trust Property.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To aid by further investment any corporation, company, trust, association or firm, any obligation
of or interest in which is included in the Trust Property or in the affairs of which the Trustees have any direct or indirect
interest; to do all acts and things designed to protect, preserve, improve or enhance the value of such obligation or interest;
and to guarantee or become surety on any or all of the contracts, stocks, bonds, notes, debentures and other obligations of any
such corporation, company, trust, association or firm.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To adopt By-Laws not inconsistent with this Declaration providing for the conduct of the business
of the Trust and to amend and repeal them to the extent such right is not reserved to the Shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
elect and remove with or without cause such officers and appoint and terminate such agents as they deem appropriate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To employ as custodian of any assets of the Trust, subject to any provisions herein or in
the By-Laws, one or more banks, trust companies or companies that are members of a national securities exchange, or other entities
permitted by the Commission to serve as such.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
retain one or more transfer agents and shareholder servicing agents, or both.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
provide for the distribution of Shares either through a Principal Underwriter as provided herein or by the Trust itself, or both,
or pursuant to a distribution plan of any kind.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&nbsp;To set record dates in the manner provided for herein or in the By-Laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
delegate such authority as they consider desirable to any officers of the Trust and to any agent, independent contractor, manager,
investment adviser, custodian or underwriter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
hold any security or other property (i)&nbsp;in a form not indicating any trust, whether in bearer, book entry, unregistered or
other negotiable form, or (ii)&nbsp;either in the Trust&#8217;s or Trustees&#8217; own name or in the name of a custodian or a
nominee or nominees, subject to safeguards according to the usual practice of statutory trusts or investment companies.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
establish separate and distinct Series with separately defined investment objectives and policies and distinct investment purposes,
and with separate Shares representing beneficial interests in such Series, and to establish separate Classes, all in accordance
with the provisions of Article&nbsp;V.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
the full extent permitted by Section&nbsp;3804 of the Delaware Act, to allocate assets, liabilities and expenses of the Trust
to a particular Series and assets, liabilities and expenses to a particular Class or to apportion the same between or among two
or more Series or Classes, provided that any liabilities or expenses incurred by a particular Series or Class shall be payable
solely out of the assets belonging to that Series or Class as provided for in Article&nbsp;V, Section&nbsp;4.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To consent to or participate in any plan for the reorganization, consolidation or merger
of any corporation or concern whose securities are held by the Trust; to consent to any contract, lease, mortgage, purchase, or
sale of property by such corporation or concern; and to pay calls or subscriptions with respect to any security held in the Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(s)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
compromise, arbitrate, or otherwise adjust claims in favor of or against the Trust or any matter in controversy including, but
not limited to, claims for taxes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(t)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
make distributions of income, capital gains, returns of capital (if any) and redemption proceeds to Shareholders in the manner
hereinafter provided for.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(u)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
establish committees for such purposes, with such membership, and with such responsibilities as the Trustees may consider proper,
including a committee consisting of fewer than all of the Trustees then in office, which may act for and bind the Trustees and
the Trust with respect to the institution, prosecution, dismissal, settlement, review or investigation of any action, suit or
proceeding, pending or threatened to be brought before any court, administrative agency or other adjudicatory body.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To issue, sell, repurchase, redeem, cancel, retire, acquire, hold, resell, reissue, dispose
of and otherwise deal in Shares; to establish terms and conditions regarding the issuance, sale, repurchase, redemption, cancellation,
retirement, acquisition, holding, resale, reissuance, disposition of or dealing in Shares; and, subject to Articles V and VI, to
apply to any such repurchase, redemption, retirement, cancellation or acquisition of Shares any funds or property of the Trust
or of the particular Series with respect to which such Shares are issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(w)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
invest part or all of the Trust Property (or part or all of the assets of any Series), or to dispose of part or all of the Trust
Property (or part or all of the assets of any Series) and invest the proceeds of such disposition, in securities issued by one
or more other investment companies registered under the 1940 Act (including investment by means of transfer of part or all of
the Trust Property in exchange for an interest or interest in such one or more investment companies) all without any requirement
of approval by Shareholders. Any such other investment company may (but need not) be a trust (formed under the laws of any state)
which is classified as a partnership for federal income tax purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
sell or exchange any or all of the assets of the Trust, subject to Article&nbsp;IX, Sections&nbsp;4, 6 and 7.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(y)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
enter into joint ventures, partnerships and any other combinations and associations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(z)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
join with other security holders in acting through a committee, depositary, voting trustee or otherwise, and in that connection
to deposit any security with, or transfer any security to, any such committee, depositary or trustee, and to delegate to them
such power and authority with relation to any security (whether or not so deposited or transferred) as the Trustees shall deem
proper, and to agree to pay, and to pay, such portion of the expenses and compensation of such Committee, depositary or trustee
as the Trustees shall deem proper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(aa)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &nbsp;</FONT><FONT STYLE="font-size: 10pt">To purchase and pay for entirely out of Trust Property such insurance as the Trustees may
deem necessary or appropriate for the conduct of the business, including, without limitation, insurance policies insuring the
assets of the Trust or payment of distributions and principal on its portfolio investments, and, subject to applicable law and
any restrictions set forth in the By-Laws, insurance policies insuring the Shareholders, Trustees, officers, employees, agents,
investment advisers, Principal Underwriters, or independent contractors of the Trust, individually, against all claims and liabilities
of every nature arising by reason of holding Shares, holding, being or having held any such office or position, or by reason of
any action alleged to have been taken or omitted by any such Person as Trustee, officer, employee, agent, investment adviser,
Principal Underwriter, or independent contractor, including any action taken or omitted that may be determined to constitute negligence,
whether or not the Trust would have the power to indemnify such Person against liability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(bb)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
adopt, establish and carry out pension, profit-sharing, share bonus, share purchase, savings, thrift and other retirement, incentive
and benefit plans and trusts, including the purchasing of life insurance and annuity contracts as a means of providing such retirement
and other benefits, for any or all of the Trustees, officers, employees and agents of the Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(cc)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
vote or give assent, or exercise any rights of ownership, with respect to stock or other securities or property; and to execute
and deliver proxies or powers of attorneys to such Person or Persons as the Trustees shall deem proper, granting to such Person
or Persons such power and discretion with relation to securities and property as the Trustees shall deem proper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(dd)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
enter into contracts of any kind and description.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(ee)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
interpret the investment policies, practices or limitations of any Series or Class.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ff)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
guarantee indebtedness and contractual obligations of others.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(gg)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
carry on any other business in connection with or incidental to any of the foregoing powers, to do everything necessary or desirable
to accomplish any purpose or to further any of the foregoing powers, and to take every other action incidental to the foregoing
business or purposes, objects or powers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The clauses above shall
be construed as objects and powers, and the enumeration of specific powers shall not limit in any way the general powers of the
Trustees. Any action by one or more of the Trustees in their capacity as such hereunder shall be deemed an action on behalf of
the Trust or the applicable Series, and not an action in an individual capacity. No one dealing with the Trustees shall be under
any obligation to make any inquiry concerning the authority of the Trustees, or to see to the application of any payments made
or property transferred to the Trustees or upon their order. In construing this Declaration, the presumption shall be in favor
of a grant of power to the Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 3. <FONT STYLE="font-size: 10pt"><U>Certain
Transactions</U>. Except as prohibited by applicable law, the Trustees may, on behalf of the Trust, buy any securities from
or sell any securities to, or lend any assets of the Trust to, any Trustee or officer of the Trust or any firm of which any
such Trustee or officer is a member acting as </FONT>principal, or have any such dealings with any investment adviser,
administrator, distributor or transfer agent for the Trust or with any Interested Person of such person. The Trust may employ
any such person or entity in which such person is an Interested Person, as broker, legal counsel, registrar, investment
adviser, administrator, distributor, transfer agent, dividend disbursing agent, custodian or in any other capacity upon
customary terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 4. <FONT STYLE="font-size: 10pt"><U>Election
and Number of Trustees</U>. The Trustees shall be the persons serving as Trustees on the date hereof and all other persons who
at the time in question have been duly elected or appointed and have qualified as Trustees in accordance with the provisions hereof
and are then in office. The number of Trustees shall be fixed from time to time by a majority of the Trustees then in office; provided,
that there shall be at least one (1) Trustee and no more than fifteen (15).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 5. <FONT STYLE="font-size: 10pt"><U>Term
of Office of Trustees; Classes</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Subject to the voting rights established with respect to a particular Series or Class, each
Trustee shall hold office for life or until his successor is elected and duly qualified or the Trust terminates. Notwithstanding
the foregoing but subject to the voting rights established with respect to a particular Series or Class, (1)&nbsp;any Trustee may
resign by delivering to the other Trustees or to any Trust officer a written resignation effective upon such delivery or a later
date specified therein; (2)&nbsp;any Trustee may be removed with or without cause at any time by a written instrument signed by
at least two-thirds of the then Trustees, specifying the effective date of removal; (3)&nbsp;any Trustee who requests to be retired,
or who is declared bankrupt or has become physically or mentally incapacitated or is otherwise unable to serve, may be retired
by a written instrument signed by a majority of the other Trustees, specifying the effective date of retirement; and (4)&nbsp;any
Trustee may be removed, with or without cause, by a vote of at least a majority of the then Trustees if such removal is approved
by the holders of at least two-thirds of the Outstanding Shares entitled to vote with respect to the election of such Trustee and
present in person or by proxy at a meeting of the Shareholders called for such purpose.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
Board of Trustees shall be divided into three classes, designated Class I, Class&nbsp;II and Class&nbsp;III. Each class shall
consist, as nearly as may be possible, of one-third of the total number of trustees constituting the entire Board of
Trustees. Within the limits above specified, the number of the Trustees in each class shall be determined by resolution of
the Board of Trustees. The term of office of the 1st class shall expire on the date of the 1st annual meeting of Shareholders
or special meeting in lieu thereof following the effective date of the Registration Statement relating to the Shares under
the Securities Act. The term of the 2nd class shall expire on the date of the 2nd annual meeting of Shareholders or special
meeting in lieu thereof following the effective date of the Registration Statement relating to the Shares under the
Securities Act. The term of the 3rd class shall expire on the date of the 3rd annual meeting of Shareholders or special
meeting in lieu thereof following the effective date of the Registration Statement relating to the Shares under the
Securities Act. Upon expiration of the term of office of each class as set forth above, the number of Trustees in such class,
as determined by the Board of Trustees, shall be elected for a term expiring on the date of the 3rd annual meeting of
Shareholders or special meeting in lieu thereof following such expiration to succeed the Trustees whose terms of office
expire. The Trustees shall be elected at an annual meeting of the Shareholders or special meeting in lieu thereof called for
that purpose. In the case of a failure to elect Trustees at a meeting of Shareholders, each </FONT>incumbent Trustee shall
hold-over as Trustee until he or she sooner dies, resigns, retires, or is disqualified or removed from office or until the
election at an annual meeting and qualification of his or her successor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 6. <FONT STYLE="font-size: 10pt"><U>Vacancies;
Appointment of Trustees</U>. Whenever a vacancy shall exist in the Board of Trustees, regardless of the reason for such vacancy,
the remaining Trustees shall appoint any person as they determine in their sole discretion to fill that vacancy, consistent with
the limitations under the 1940 Act, provided, that if the Shareholders of any Class or Series of Shares are entitled separately
to elect one or more Trustees, a majority of the remaining Trustees or the sole remaining Trustee elected by that Class or Series
may fill any vacancy among the number of Trustees elected by that Class or Series. Such appointment shall be made by a written
instrument signed by a majority of the Trustees or by a resolution of the Trustees, duly adopted and recorded in the records of
the Trust, specifying the effective date of the appointment. The Trustees may appoint a new Trustee as provided above in anticipation
of a vacancy expected to occur because of the retirement, resignation or removal of a Trustee, or an increase in number of Trustees,
provided that such appointment shall become effective only at or after the expected vacancy occurs. As soon as any such Trustee
has accepted his appointment in writing, the trust estate shall vest in the new Trustee, together with the continuing Trustees,
without any further act or conveyance, and he shall be deemed a Trustee hereunder. The Trustees&#8217; power of appointment is
subject to Section&nbsp;16(a) of the 1940 Act. Whenever a vacancy in the number of Trustees shall occur, until such vacancy is
filled as provided in this Article&nbsp;II, the Trustees in office, regardless of their number, shall have all the powers granted
to the Trustees and shall discharge all the duties imposed upon the Trustees by the Declaration. The death, declination to serve,
resignation, retirement, removal or incapacity of one or more Trustees, or all of them, shall not operate to annul the Trust or
to revoke any existing agency created pursuant to the terms of this Declaration of Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 7. <FONT STYLE="font-size: 10pt"><U>Chairman</U>.
The Trustees may appoint one of their number to be Chairman of the Board of Trustees. The Chairman shall preside at all meetings
of the Trustees, shall be responsible for the execution of policies established by the Trustees and the administration of the Trust,
and may be the chief executive, financial and/or accounting officer of the Trust. If the Trustees do not appoint a Chairman, the
President shall perform the duties and have the responsibilities hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 8. <FONT STYLE="font-size: 10pt"><U>Action
by the Trustees</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt">Except
as expressly provided in this Declaration, the Trustees shall act by majority vote at a meeting duly called at which a quorum
is present, including a meeting held by conference telephone, teleconference or other electronic media or communication
equipment by means of which all persons participating in the meeting can communicate with each other; or by written consent
of a majority of Trustees (or such greater number as may be required by applicable law) without a meeting. A majority of the
Trustees shall constitute a quorum at any meeting. Meetings of the Trustees may be called orally or in writing by the
President or by any one of the Trustees or as set forth in the By-Laws. Notice of the time, date and place of all
Trustees&#8217; meetings shall be given to each Trustee as set forth in the By-Laws; provided, however, that no notice is
required if the Trustees provide for regular or stated meetings. Notice need not be given to any Trustee who attends the
meeting without objecting to the lack of notice or who signs a waiver of notice either before or after the meeting. Except as
expressly provided in this Agreement, the Trustees by majority vote may delegate to any Trustee or Trustees or committee
authority to approve particular matters or take particular actions on behalf of the Trust. Any written </FONT>consent or
waiver may be provided and delivered to the Trust by facsimile or other similar electronic mechanism.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">A
Trustee who with respect to the Trust is not an Interested Person shall be deemed to be independent and disinterested when making
any determinations or taking any action as a Trustee, whether pursuant to the 1940 Act, the Delaware Act or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 9. <FONT STYLE="font-size: 10pt"><U>Ownership
of Trust Property</U>. The Trust Property of the Trust and of each Series shall be held separate and apart from any assets now
or hereafter held in any capacity other than as Trustee hereunder by the Trustees or any successor Trustees. Legal title in and
beneficial ownership of all of the assets of the Trust shall at all times be considered as vested in the Trust, except that the
Trustees may cause legal title in and beneficial ownership of any Trust Property to be held by, or in the name of one or more of
the Trustees acting for and on behalf of the Trust, or in the name of any person as nominee acting for and on behalf of the Trust.
No Shareholder shall be deemed to have a severable ownership in any individual asset of the Trust or of any Series or any right
of partition or possession thereof, but each Shareholder shall have, as provided in Article&nbsp;V, a proportionate undivided beneficial
interest in the Trust or Series or Class thereof represented by Shares. The Shares shall be personal property giving only the rights
specifically set forth in this Declaration. The Trust, or at the determination of the Trustees one or more of the Trustees or a
nominee acting for and on behalf of the Trust, shall be deemed to hold legal title and beneficial ownership of any income earned
on securities of the Trust issued by any business entities formed, organized, or existing under the laws of any jurisdiction, including
the laws of any foreign country. Upon the resignation or removal of a Trustee, or his otherwise ceasing to be a Trustee, he shall
execute and deliver such documents as the remaining Trustees shall require for the purpose of conveying to the Trust or the remaining
Trustees any Trust Property held in the name of the resigning or removed Trustee. Upon the incapacity or death of any Trustee,
his legal representative shall execute and deliver on his behalf such documents as the remaining Trustees shall require as provided
in the preceding sentence.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 10. <FONT STYLE="font-size: 10pt"><U>Effect
of Trustees Not Serving</U>. The death, resignation, retirement, removal, incapacity or inability or refusal to serve of the Trustees,
or any one of them, shall not operate to annul the Trust or to revoke any existing agency created pursuant to the terms of this
Declaration.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 11. <FONT STYLE="font-size: 10pt"><U>Trustees,
Etc. as Shareholders</U>. Subject to any restrictions in the By-Laws, any Trustee, officer, agent or independent contractor of
the Trust may acquire, own and dispose of Shares to the same extent as any other Shareholder; the Trustees may issue and sell Shares
to and buy Shares from any such person or any firm or company in which such Person is interested, subject only to any general limitations
herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 12. <FONT STYLE="font-size: 10pt"><U>Series
Trustees</U>. In connection with the establishment of one or more Series or Classes, the Trustees establishing such Series or
Class may appoint, to the extent permitted by the Delaware Act, separate Trustees with respect to such Series or Classes (the
 &#8220;Series Trustees&#8221;). Series Trustees may, but are not required to, serve as Trustees of the Trust or any other
Series or Class of the Trust. The Series Trustees shall have, to the exclusion of any other Trustee of the Trust, all the
powers and authorities of Trustees hereunder with respect to such Series or Class, but shall have no power or authority with
respect to any other Series or Class. Any provision of this Declaration relating to election of Trustees by Shareholders only
shall entitle the Shareholders of a Series or Class for which Series </FONT>Trustees have been appointed to vote with respect
to the election of such Series Trustees and the Shareholders of any other Series or Class shall not be entitled to
participate in such vote. In the event that Series Trustees are appointed, the Trustees initially appointing such Series
Trustees shall, without the approval of any Outstanding Shares, amend either the Declaration or the By-Laws to provide for
the respective responsibilities of the Trustees and the Series Trustees in circumstances where an action of the Trustees or
Series Trustees affects all Series of the Trust or two or more Series represented by different Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
III<BR>
<BR>
CONTRACTS WITH SERVICE PROVIDERS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Underwriting
Contract</U>. The Trustees may in their discretion from time to time enter into an exclusive or non-exclusive underwriting or distribution
contract or contracts providing for the sale of the Shares whereby the Trustees may either agree to sell the Shares to the other
party to the contract or appoint such other party as their sales agent for the Shares, and in either case on such terms and conditions,
if any, as may be prescribed in the By-Laws, and such further terms and conditions as the Trustees may in their discretion determine
not inconsistent with the provisions of this Article&nbsp;III or of the By-Laws; and such contract may also provide for the repurchase
of the Shares by such other party as agent of the Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Advisory
or Management Contract</U>. The Trustees may in their discretion from time to time enter into one or more investment advisory or
management contracts or, if the Trustees establish multiple Series, separate investment advisory or management contracts with respect
to one or more Series whereby the other party or parties to any such contracts shall undertake to furnish the Trust or such Series
management, investment advisory, administration, accounting, legal, statistical and research facilities and services, promotional
or marketing activities, and such other facilities and services, if any, as the Trustees shall from time to time consider desirable
and all upon such terms and conditions as the Trustees may in their discretion determine. Notwithstanding any provisions of the
Declaration, the Trustees may authorize the Investment Adviser(s) or persons to whom the Investment Adviser(s) delegates certain
or all of its duties, or any of them, under any such contracts (subject to such general or specific instructions as the Trustees
may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities and other investments of the
Trust on behalf of the Trustees or may authorize any officer, employee or Trustee to effect such purchases, sales, loans or exchanges
pursuant to recommendations of such Investment Adviser(s), or any of them (and all without further action by the Trustees). Any
such purchases, sales, loans and exchanges shall be deemed to have been authorized by all of the Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 3. <FONT STYLE="font-size: 10pt"><U>Administration
Agreement</U>. The Trustees may in their discretion from time to time enter into an administration agreement or, if the
Trustees establish multiple Series or Classes, separate administration agreements with respect to each Series or Class,
whereby the other party to such agreement shall undertake to manage the business affairs of the Trust or of a Series or Class
thereof of the Trust and furnish the Trust or a Series or a Class thereof with office facilities, and shall be responsible
for the </FONT>ordinary clerical, bookkeeping and recordkeeping services at such office facilities, and other facilities and
services, if any, and all upon such terms and conditions as the Trustees may in their discretion determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 4. <FONT STYLE="font-size: 10pt"><U>Service
Agreement</U>. The Trustees may in their discretion from time to time enter into service agreements with respect to one or more
Series or Classes of Shares whereby the other parties to such Service Agreements will provide administration and/or support services
pursuant to administration plans and service plans, and all upon such terms and conditions as the Trustees in their discretion
may determine.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 5. <U>Transfer
Agent</U><FONT STYLE="font-size: 10pt">. The Trustees may in their discretion from time to time enter into a transfer agency and
shareholder service contract whereby the other party to such contract shall undertake to furnish transfer agency and shareholder
services to the Trust. The contract shall have such terms and conditions as the Trustees may in their discretion determine not
inconsistent with the Declaration. Such services may be provided by one or more Persons.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 6. <FONT STYLE="font-size: 10pt"><U>Custodian</U>.
The Trustees may appoint or otherwise engage one or more banks or trust companies or any other entity satisfying the requirements
of the 1940 Act, to serve as Custodian with authority as its agent, but subject to such restrictions, limitations and other requirements,
if any, as may be contained in the By-Laws of the Trust. The Trustees may also authorize the Custodian to employ one or more sub-custodians,
including such foreign banks and securities depositories as meet the requirements of applicable provisions of the 1940 Act, and
upon such terms and conditions as may be agreed upon between the Custodian and such sub-custodian, to hold securities and other
assets of the Trust and to perform the acts and services of the Custodian, subject to applicable provisions of law and resolutions
adopted by the Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 7. <FONT STYLE="font-size: 10pt"><U>Affiliations
of Trustees or Officers, Etc.</U> The fact that: (i)&nbsp;any of the Shareholders, Trustees or officers of the Trust or any Series
thereof is a shareholder, director, officer, partner, trustee, employee, manager, adviser or distributor of or for any partnership,
corporation, trust, association or other organization or of or for any parent or affiliate of any organization, with which a contract
of the character described in this Article&nbsp;III or for services as Custodian, Transfer Agent or disbursing agent or for related
services may have been or may hereafter be made, or that any such organization, or any parent or affiliate thereof, is a Shareholder
of or has an interest in the Trust, or that (ii)&nbsp;any partnership, corporation, trust, association or other organization with
which a contract of the character described in Sections&nbsp;1, 2, 3 or 4 of this Article&nbsp;III or for services as Custodian,
Transfer Agent or disbursing agent or for related services may have been or may hereafter be made also has any one or more of such
contracts with one or more other partnerships, corporations, trusts, associations or other organizations, or has other business
or interests, shall not affect the validity of any such contract or disqualify any Shareholder, Trustee or officer of the Trust
from voting upon or executing the same or create any liability or accountability to the Trust or its Shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
IV<BR>
<BR>
COMPENSATION, LIMITATION OF LIABILITY AND INDEMNIFICATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Compensation</U>.
The Trustees as such shall be entitled to reasonable compensation from the Trust, and they may fix the amount of such compensation.
Nothing herein shall in any way prevent the employment of any Trustee for advisory, management, legal, accounting, investment banking
or other services and payment for the same by the Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Limitation
of Liability</U>. All persons contracting with or having any claim against the Trust or a particular Series shall look only
to the assets of all Series or such particular Series for payment under such contract or claim; and neither the Trustees nor,
when acting in such capacity, any of the Trust&#8217;s officers, employees or agents, whether past, present or future, shall
be personally liable therefor. Every written instrument or obligation on behalf of the Trust or any Series shall contain a
statement to the </FONT>foregoing effect, but the absence of such statement shall not operate to make any Trustee or officer
of the Trust liable thereunder. Provided they have exercised reasonable care and have acted under the reasonable belief that
their actions are in the best interest of the Trust, the Trustees and officers of the Trust shall not be responsible or
liable for any act or omission or for neglect or wrongdoing of them or any officer, agent, employee, investment adviser or
independent contractor of the Trust, but nothing contained in this Declaration or in the Delaware Act shall protect any
Trustee or officer of the Trust against liability to the Trust or to Shareholders to which he would otherwise be subject by
reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his
office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 3. <FONT STYLE="font-size: 10pt"><U>Indemnification</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Subject to the exceptions and limitations contained in subsection&nbsp;(b) below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">every
person who is, or has been, a Trustee or an officer, employee or agent of the Trust (including any individual who serves at its
request as director, officer, partner, employee, trustee, agent or the like of another organization in which it has any interest
as a shareholder, creditor or otherwise) (&#8220;Covered Person&#8221;) shall be indemnified by the Trust or the appropriate Series
to the fullest extent permitted by law against liability and against all expenses reasonably incurred or paid by him in connection
with any claim, action, suit or proceeding in which he becomes involved as a party or otherwise by virtue of his being or having
been a Covered Person and against amounts paid or incurred by him in the settlement thereof; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">as
used herein, the words &#8220;claim,&#8221; &#8220;action,&#8221; &#8220;suit,&#8221; or &#8220;proceeding&#8221; shall apply
to all claims, actions, suits or proceedings (civil, criminal, administrative, investigative or other, including appeals), actual
or threatened, and the words &#8220;liability&#8221; and &#8220;expenses&#8221; shall include, without limitation, attorneys&#8217;
fees, costs, judgments, amounts paid in settlement, fines, penalties and other liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">No indemnification shall be provided hereunder to a Covered Person:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">who
shall have been adjudicated by a court or body before which the proceeding was brought (A)&nbsp;to be liable to the Trust or its
Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the
conduct of his office, or (B)&nbsp;not to have acted in good faith and in a manner the person reasonably believed to be in or
not opposed to the best interests of the Trust; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">in
the event of a settlement, unless there has been a determination that such Covered Person did not engage in willful misfeasance,
bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office; (A)&nbsp;by the court or
other body approving the settlement; (B)&nbsp;by at least a majority of those Trustees who are neither Interested Persons of the
Trust nor are parties to the matter based upon a review of readily available facts (as opposed to a full trial-type inquiry);
(C)&nbsp;by written opinion </FONT>of independent legal counsel based upon a review of readily available facts (as opposed to
a full trial-type inquiry)&nbsp;or (D)&nbsp;by a vote of a majority of the Outstanding Shares entitled to vote (excluding any
Outstanding Shares owned of record or beneficially by such individual).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
rights of indemnification herein provided may be insured against by policies maintained by the Trust, shall be severable, shall
not be exclusive of or affect any other rights to which any Covered Person may now or hereafter be entitled, and shall inure to
the benefit of the heirs, executors and administrators of a Covered Person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
the maximum extent permitted by applicable law, expenses in connection with the preparation and presentation of a defense to any
claim, action, suit or proceeding of the character described in subsection (a)&nbsp;of this Section&nbsp;may be paid by the Trust
or applicable Series from time to time prior to final disposition thereof upon receipt of an undertaking by or on behalf of such
Covered Person that such amount will be paid over by him to the Trust or applicable Series if it is ultimately determined that
he is not entitled to indemnification under this Section; provided, however, that either (i)&nbsp;such Covered Person shall have
provided appropriate security for such undertaking, (ii)&nbsp;the Trust is insured against losses arising out of any such advance
payments or (iii)&nbsp;either a majority of a quorum of the Trustees who are neither Interested Persons of the Trust nor parties
to the matter, or independent legal counsel in a written opinion, shall have determined, based upon a review of readily available
facts (as opposed to a full trial-type inquiry) that there is reason to believe that such Covered Person will not be disqualified
from indemnification under this Section. Independent counsel retained for the purpose of rendering an opinion regarding advancement
of expenses and/or a majority of a quorum of the Trustees who are neither Interested Persons of the Trust nor parties to the matter,
may proceed under a rebuttable presumption that the Covered Person has not engaged in willful misfeasance, bad faith, gross negligence
or reckless disregard of the Covered Person&#8217;s duties to the Trust and were based on the Covered Person&#8217;s determination
that those actions were in the best interests of the Trust and its Shareholders; provided that the Covered Person is not an Interested
Person (or is an Interested Person solely by reason of being an officer of the Trust).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Any
repeal or modification of this Article&nbsp;IV by the Shareholders, or adoption or modification of any other provision of the
Declaration or By-Laws inconsistent with this Article, shall be prospective only, to the extent that such repeal, or modification
would, if applied retrospectively, adversely affect any limitation on the liability of any Covered Person or indemnification available
to any Covered Person with respect to any act or omission which occurred prior to such repeal, modification or adoption. Any such
repeal or modification by the Shareholders shall require a vote of at least two-thirds of the Outstanding Shares entitled to vote
and present in person or by proxy at any meeting of the Shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 4. <FONT STYLE="font-size: 10pt"><U>Indemnification
of Shareholders</U>. If any Shareholder or former Shareholder of any Series shall be held personally liable solely by reason
of his being or having been a Shareholder and not because of his acts or omissions or for some other reason, the Shareholder
or former Shareholder (or his heirs, executors, administrators or other legal representatives or in the case of any entity,
its general successor) shall be entitled out of the assets belonging to the applicable Series to be held harmless from and
indemnified against all loss and expense arising from such liability. The Trust, on behalf of the </FONT>affected Series,
shall, upon request by such Shareholder, assume the defense of any claim made against such Shareholder for any act or
obligation of the Series and satisfy any judgment thereon from the assets of the Series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 5. <FONT STYLE="font-size: 10pt"><U>No
Bond Required of Trustees</U>. No Trustee shall be obligated to give any bond or other security for the performance of any of his
duties hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 6. <FONT STYLE="font-size: 10pt"><U>No
Duty of Investigation; Notice in Trust Instruments, Etc.</U> No purchaser, lender, transfer agent or other Person dealing with
the Trustees or any officer, employee or agent of the Trust or a Series thereof shall be bound to make any inquiry concerning the
validity of any transaction purporting to be made by the Trustees or by said officer, employee or agent or be liable for the application
of money or property paid, loaned, or delivered to or on the order of the Trustees or of said officer, employee or agent. Every
obligation, contract, instrument, certificate, Share, other security of the Trust or a Series thereof or undertaking, and every
other act or thing whatsoever executed in connection with the Trust shall be conclusively presumed to have been executed or done
by the executors thereof only in their capacity as Trustees under this Declaration or in their capacity as officers, employees
or agents of the Trust or a Series thereof. Every written obligation, contract, instrument, certificate, Share, other security
of the Trust or a Series thereof or undertaking made or issued by the Trustees may recite that the same is executed or made by
them not individually, but as Trustees under the Declaration, and that the obligations of the Trust or a Series thereof under any
such instrument are not binding upon any of the Trustees or Shareholders individually, but bind only the Trust Property or the
Trust Property of the applicable Series, and may contain any further recital which they may deem appropriate, but the omission
of such recital shall not operate to bind the Trustees individually. The Trustees may maintain insurance for the protection of
the Trust Property or the Trust Property of the applicable Series, its Shareholders, Trustees, officers, employees and agents in
such amount as the Trustees shall deem adequate to cover possible tort liability, and such other insurance as the Trustees in their
sole judgment shall deem advisable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 7. <FONT STYLE="font-size: 10pt"><U>Reliance
on Experts, Etc.</U> Each Trustee, officer or employee of the Trust or a Series thereof shall, in the performance of his duties,
powers and discretions hereunder be fully and completely justified and protected with regard to any act or any failure to act resulting
from reliance in good faith upon the books of account or other records of the Trust or a Series thereof, upon an opinion of counsel,
or upon reports made to the Trust or a Series thereof by any of its officers or employees or by the Investment Adviser, the Administrator,
the Distributor, the Principal Underwriter, Transfer Agent, selected dealers, accountants, appraisers or other experts or consultants
selected with reasonable care by the Trustees, officers or employees of the Trust, regardless of whether such counsel or expert
may also be a Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
V<BR>
<BR>
SERIES; CLASSES; SHARES; OTHER SECURITIES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Establishment
of Series or Class</U>. The Trust shall consist of one or more Series. Without limiting the authority of the Trustees to
establish and designate any further Series or Classes, the Trustees hereby establish a single Series, designated Calamos
Convertible Opportunities and Income Fund, and one Class of Shares, designated as the common shares. Each additional Series
or Class shall be established and is effective upon the adoption of a resolution of a majority of the Trustees or any </FONT>alternative
date specified in such resolution. Such resolution may establish such additional Series or Classes directly in such
resolution or by reference to, or approval of, another document that sets forth such Series or Classes, including any
registration statement of the Trust, or as otherwise provided in such resolution. The Trustees may designate the relative
rights and preferences of the Shares of each Series. The Trustees may divide the Shares of any Series into Classes. Any
Shares of any further Series and Classes that may from time to time be established and designated by the Trustees shall be
established and designated, and the variations in the relative rights and preferences as between the different Series shall
be fixed and determined, by the Trustees; provided, that all Shares shall be identical except for such variations as shall be
fixed and determined between different Series or Classes by the Trustees in establishing and designating such Class or
Series. Unless otherwise designated by the Trustees in the By-Laws or resolutions establishing a Series or Class, the
purchase price, the method of determining the net asset value, and the relative liquidation, voting, dividend and other
rights and preferences of holders of each Series or Class shall be as set forth in the Trust&#8217;s Registration Statement
on Form N-2 under the Securities Act and/or the 1940 Act relating to the issuance of Shares of such Series or Class.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">All references to Shares
in this Declaration shall be deemed to be Shares of any or all Series or Classes as the context may require. The Trust shall maintain
separate and distinct records for each Series and hold and account for the assets thereof separately from the other assets of the
Trust or of any other Series. A Series may issue any number of Shares or any Class thereof and need not issue Shares. Except as
otherwise provided with respect to a specific Class, each Share of a Series shall represent an equal beneficial interest in the
net assets of such Series. Each holder of Shares of a Series or a Class thereof shall be entitled to receive his pro rata share
of all distributions made with respect to such Series or Class. Upon redemption of his Shares, such Shareholder shall be paid solely
out of the funds and property of such Series. The Trustees may adopt and change the name of any Series or Class without Shareholder
approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Shares</U>.
The beneficial interest in the Trust shall be divided into transferable Shares of one or more separate and distinct Series or Classes
established by the Trustees. The number of Shares of each Series and Class is unlimited and each Share shall have no par value
per Share or such other amount as the Trustees may establish. All Shares issued hereunder shall be fully paid and nonassessable.
Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust.
The Trustees shall have full power and authority, in their sole discretion and without obtaining Shareholder approval, to issue
original or additional Shares at such times and on such terms and conditions as they deem appropriate; to issue fractional Shares
and Shares held in the treasury; to establish and to change in any manner Shares of any Series or Classes with such preferences,
rights upon liquidation, redemption rights, terms of conversion, voting powers, and other rights and privileges as the Trustees
may determine (but the Trustees may not change Outstanding Shares in a manner materially adverse to the Shareholders of such Shares);
to divide or combine the Shares of any Series or Classes into a greater or lesser number; to classify or reclassify any unissued
Shares of any Series or Classes into one or more Series or Classes of Shares; to abolish any one or more Series or Classes of Shares;
to issue Shares to acquire other assets (including assets subject to, and in connection with, the assumption of liabilities) and
businesses; and to take such other action with respect to the Shares as the Trustees may deem desirable. Shares held in the treasury
shall not confer any voting rights on the Trustees and shall not be entitled to any dividends or other distributions declared with
respect to the Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 3. <U>Investment
in the Trust</U><FONT STYLE="font-size: 10pt">. The Trustees shall accept investments in any Series or Class from such persons
and on such terms as they may from time to time authorize. At the Trustees&#8217; discretion, such investments, subject to applicable
law, may be in the form of cash or securities in which that Series is authorized to invest, valued as provided in Article&nbsp;VI,
Section&nbsp;3. Investments in a Series shall be credited to each Shareholder&#8217;s account in the form of full Shares at the
Net Asset Value per Share next determined after the investment is received or accepted as may be determined by the Trustees; provided,
however, that the Trustees may, in their sole discretion, (a)&nbsp;impose a sales charge upon investments in any Series or Class,
(b)&nbsp;issue fractional Shares, (c)&nbsp;determine the Net Asset Value per Share of the initial capital contribution or (d)&nbsp;authorize
the issuance of Shares at a price other than Net Asset Value to the extent permitted by the 1940 Act or any rule, order or interpretation
of the Commission thereunder. The Trustees shall have the right to refuse to accept investments in any Series at any time without
any cause or reason therefor whatsoever.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 4. <FONT STYLE="font-size: 10pt"><U>Assets
and Liabilities of Series</U>. All consideration received by the Trust for the issue or sale of Shares of a particular Series,
together with all assets in which such consideration is invested or reinvested, all income, earnings, profits, and proceeds thereof
(including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any
reinvestment of such proceeds in whatever form the same may be), shall be held and accounted for separately from the assets of
every other Series and are referred to as &#8220;assets belonging to&#8221; that Series. The assets belonging to a Series shall
belong only to that Series for all purposes, and to no other Series, subject only to the rights of creditors of that Series. Any
assets, income, earnings, profits, and proceeds thereof, funds, or payments which are not readily identifiable as belonging to
any particular Series shall be allocated by the Trustees between and among one or more Series as the Trustees deem fair and equitable.
Each such allocation shall be conclusive and binding upon the Shareholders of all Series for all purposes, and such assets, earnings,
income, profits or funds, or payments and proceeds thereof shall be referred to as assets belonging to that Series. Separate and
distinct records shall be maintained for each Series and the assets held with respect to each Series shall be held and accounted
for separately from the assets held with respect to all other Series and from any assets, income, earnings, profits, and proceeds
thereof, funds, or payments which are not readily identifiable as belonging to any particular Series that are not allocated to
such Series by the Trustees in accordance with this Section&nbsp;4. The assets belonging to a Series shall be so recorded upon
the books of the Trust, and shall be held by the Trustees in trust for the benefit of the Shareholders of that Series. The assets
belonging to a Series shall be charged with the liabilities of that Series and all expenses, costs, charges and reserves attributable
to that Series, except that liabilities and expenses allocated solely to a particular Class shall be borne by that Class. Any general
liabilities, expenses, costs, charges or reserves of the Trust which are not readily identifiable as belonging to any particular
Series or Class shall be allocated and charged by the Trustees between or among any one or more of the Series or Classes in such
manner as the Trustees deem fair and equitable. Each such allocation shall be conclusive and binding upon the Shareholders of all
Series or Classes for all purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Without limiting
the foregoing, but subject to the right of the Trustees to allocate general liabilities, expenses, costs, charges or reserves
as herein provided, (a)&nbsp;the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing
with respect to a particular Series shall be enforceable against the assets of such Series only, and not against the assets
of any other Series or against the assets of the Trust generally, and (b)&nbsp;none of the debts, liabilities, obligations
and expenses incurred, contracted for or otherwise existing with respect to the Trust generally or any other Series thereof
shall be enforceable against the assets of such Series. Notice of this contractual limitation on liabilities among Series
shall be set forth in the certificate of trust of the Trust (whether originally or by amendment) as filed or to be filed in
the Office of the Secretary of State of the State of Delaware pursuant to the Delaware Act, and upon the giving of such
notice in the certificate of trust, the statutory provisions of Section&nbsp;3804 of the Delaware Act relating to limitations
on liabilities among Series (and the statutory effect under Section&nbsp;3804 of setting forth such notice in the certificate
of trust) shall become applicable to the Trust and each Series. Any person extending credit to, contracting with or having
any claim against any Series may look only to the assets of that Series to satisfy or enforce any debt, with respect to that
Series. No Shareholder or former Shareholder of any Series shall have a claim on or any right to any assets allocated or
belonging to any other Series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 5. <FONT STYLE="font-size: 10pt"><U>Ownership
and Transfer of Shares</U>. The Trust or a transfer or similar agent for the Trust shall maintain a register containing the names
and addresses of the Shareholders of each Series and Class thereof, the number of Shares of each Series and Class held by such
Shareholders, and a record of all Share transfers. The register shall be conclusive as to the identity of Shareholders of record
and the number of Shares held by them from time to time. The Trustees may authorize the issuance of certificates representing Shares
and adopt rules governing their use. The Trustees may make rules governing the transfer of Shares, whether or not represented by
certificates. Except as otherwise provided by the Trustees, Shares shall be transferable on the books of the Trust only by the
record holder thereof or by his duly authorized agent upon delivery to the Trustees or the Trust&#8217;s transfer agent of a duly
executed instrument of transfer, together with a Share certificate if one is outstanding, and such evidence or the genuineness
of each such execution and authorization and of such other matters as may be required by the Trustees. Upon such delivery, and
subject to any further requirements specified by the Trustees or contained in the By-Laws, the transfer shall be recorded on the
books of the Trust. Until a transfer is so recorded, the Shareholder of record of Shares shall be deemed to be the holder of such
Shares for all purposes hereunder and neither the Trustees nor the Trust, nor any transfer agent or registrar or any officer, employee
or agent of the Trust, shall be affected by any notice of a proposed transfer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 6. <FONT STYLE="font-size: 10pt"><U>Status
of Shares; Limitation of Shareholder Liability</U>. Shares shall be deemed to be personal property giving Shareholders only
the rights provided in this Declaration. Every Shareholder, by virtue of having acquired a Share, shall be held expressly to
have assented to and agreed to be bound by the terms of this Declaration and to have become a party hereto. No Shareholder
shall be personally liable for the debts, liabilities, obligations and expenses incurred by, contracted for, or otherwise
existing with respect to, the Trust or any Series. The death, incapacity, dissolution, termination or bankruptcy of a
Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the representative of any
such Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, but entitles
such representative only to the rights of such Shareholder under this Trust. Ownership of Shares shall not entitle the
Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of
the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Neither the Trust
nor the Trustees shall have any power to bind any Shareholder personally or to demand payment from any Shareholder for
anything, other than as agreed by the Shareholder. Shareholders shall have the same limitation of personal liability as is
extended to shareholders of a private corporation for profit incorporated in the State of Delaware. Every written obligation
of the Trust or any Series shall contain a statement to the effect that such obligation may only be enforced against the
assets of the appropriate </FONT>Series or all Series; however, the omission of such statement shall not operate to bind or
create personal liability for any Shareholder or Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 7. <U>Other
Securities</U>. The Trustees may authorize and issue such other securities of the Trust other than Shares as they determine to
be necessary, desirable or appropriate, having such terms, rights, preferences, privileges, limitations and restrictions as the
Trustees see fit, including preferred interests, debt securities or other senior securities. To the extent that the Trustees authorize
and issue preferred shares of any Class or Series, they are hereby authorized and empowered to amend or supplement this Declaration
as they deem necessary or appropriate, including to comply with the requirements of the 1940 Act or requirements imposed by the
rating agencies or other Persons, all without the approval of Shareholders. Any such supplement or amendment shall be filed as
is necessary. <FONT STYLE="font-size: 10pt">In addition, any such supplement or amendment may set forth the rights, powers, preferences
and privileges of such preferred shares and any such supplement or amendment shall operate either as additions to or modifications
of the rights, powers, preferences and privileges of any such preferred shares under this Declaration. To the extent the provisions
set forth in such supplement or amendment conflict with the provisions of this Declaration with respect to any such rights, powers
and privileges of the preferred shares, such amendment or supplement shall control. Except as contemplated by the immediately preceding
sentence, this Declaration shall control as to the Trust generally and the rights, powers, preferences and privileges of the other
Shareholders of the Trust. </FONT> The Trustees are also authorized to take such actions and retain such persons as they see fit
to offer and sell such securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VI<BR>
<BR>
DISTRIBUTIONS AND REDEMPTIONS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Distributions</U>.
The Trustees or a committee of one or more Trustees may declare and pay dividends and other distributions, including
dividends on Shares of a particular Series and other distributions from the assets belonging to that Series. No dividend or
distribution, including, without limitation, any distribution paid upon termination of the Trust or of any Series (or Class)
with respect to, nor any redemption or repurchase of, the Shares of any Series (or Class) shall be effected by the Trust
other than from the assets held with respect to such Series, nor shall any Shareholder of any particular Series otherwise
have any right or claim against the assets held with respect to any other Series except to the extent that such Shareholder
has such a right or claim hereunder as a Shareholder of such other Series. The Trustees shall have full discretion to
determine which items shall be treated as income and which items as capital; and each such determination and allocation shall
be conclusive and binding upon the Shareholders. The amount and payment of dividends or distributions and their form, whether
they are in cash, Shares or other Trust Property, shall be determined by the Trustees. Dividends and other distributions may
be paid pursuant to a standing resolution adopted once or more often as the Trustees determine. Except as provided with
respect to a particular Class in the By-Laws or the resolutions establishing such Class, all dividends and other
distributions on Shares of a particular Series shall be distributed pro rata to the Shareholders of that Series in proportion
to the number of Shares of that Series they held on the record date established for such payment. The Trustees may adopt and
offer to </FONT>Shareholders such dividend reinvestment plans, cash dividend payout plans or similar plans as the Trustees
deem appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Redemptions</U>.
Except as provided with respect to a particular Class in the By-Laws or the resolutions establishing such Class, Shares of the
Trust will not be redeemed or repurchased by the Trust, except as the Trustees shall determine from time to time and the Trust
shall be under no obligation to redeem or repurchase Shares. The Trustees may specify conditions, prices, and places of redemption,
may specify binding requirements for the proper form or forms of requests for redemption and may specify the amount of any deferred
sales charge to be withheld from redemption proceeds. Payment of the redemption price may be wholly or partly in securities or
other assets at the value of such securities or assets used in such determination of Net Asset Value, or may be in cash. Upon redemption,
Shares may be reissued from time to time. The Trustees may require Shareholders to redeem Shares for any reason under terms set
by the Trustees, including, but not limited to, the failure of a Shareholder to supply a taxpayer identification number if required
to do so, or to have the minimum investment required, or to pay when due for the purchase of Shares issued to him. To the extent
permitted by law, the Trustees may retain the proceeds of any redemption of Shares required by them for payment of amounts due
and owing by a Shareholder to the Trust or any Series or Class or any governmental authority. Notwithstanding the foregoing, the
Trustees may postpone payment of the redemption price and may suspend the right of the Shareholders to require any Series or Class
to redeem Shares during any period of time when and to the extent permissible under the 1940 Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 3. <FONT STYLE="font-size: 10pt"><U>Determination
of Net Asset Value</U>. The Trustees shall cause the Net Asset Value of Shares of each Series or Class to be determined from time
to time in a manner consistent with applicable laws and regulations. The Trustees may delegate the power and duty to determine
Net Asset Value per Share to one or more Trustees or officers of the Trust or to a custodian, depository or other agent appointed
for such purpose. The Net Asset Value of Shares shall be determined separately for each Series or Class at such times as may be
prescribed by the Trustees or, in the absence of action by the Trustees, as of the close of trading on the New York Stock Exchange
on the last day of each week. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 4. <FONT STYLE="font-size: 10pt"><U>Suspension
of Right of Redemption</U>. If, as referred to in Section&nbsp;2 of this Article, the Trustees postpone payment of the redemption
price and suspend the right of Shareholders to redeem their Shares, such suspension shall take effect at the time the Trustees
shall specify, but not later than the close of business on the business day next following the declaration of suspension. Thereafter
Shareholders shall have no right of redemption or payment until the Trustees declare the end of the suspension. If the right of
redemption is suspended, a Shareholder may withdraw his request for redemption. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VII<BR>
<BR>
SHAREHOLDERS&#8217; VOTING POWERS AND MEETINGS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Voting
Powers</U>. Subject to the voting rights established with respect to a particular Class in the By-Laws or the resolutions establishing
such Class, the Shareholders shall have power to vote only with respect to </FONT>(a) the election of Trustees as provided in
Section&nbsp;2 of this Article; (b) the removal of Trustees as provided in Article&nbsp;II, Section&nbsp;5(a); (c) any investment
advisory or management contract to the extent required by the 1940 Act; (d) the amendment of this Declaration to the extent and
as provided in Article&nbsp;IX, Section&nbsp;10; <FONT STYLE="font-size: 10pt">(e) the conversion of the Trust to an open-end
investment company to the extent provided in Article&nbsp;IX, Section&nbsp;5; </FONT>(f) the reorganization of the Trust to the
extent provided in Article&nbsp;IX, Section&nbsp;6; (g) to approve a transaction subject to Article&nbsp;IX, Section&nbsp;7, and
(h) such additional matters relating to the Trust as may be required by the 1940 Act or any registration of the Trust with the
Commission or any State, or as the Trustees may consider desirable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">On any matter submitted
to a vote of the Shareholders, all Shares shall be voted by individual Series or Class, except (a)&nbsp;as provided with respect
to a particular Class in the By-Laws or the resolutions establishing such Class, (b)&nbsp;when required by the 1940 Act, Shares
shall be voted in the aggregate and not by individual Series or Class, and (c)&nbsp;when the Trustees have determined that the
matter affects the interests of more than one Series or Class, then the Shareholders of all such Series or Classes shall be entitled
to vote thereon. As determined by the Trustees without the vote or consent of shareholders and except as provided with respect
to a particular Class in the By-Laws or the resolutions establishing such Class, on any matter submitted to a vote of Shareholders
either (i)&nbsp;each whole Share shall be entitled to one vote as to any matter on which it is entitled to vote and each fractional
Share shall be entitled to a proportionate fractional vote or (ii)&nbsp;each dollar of net asset value (number of Shares owned
times net asset value per share of such Series or Class, as applicable) shall be entitled to one vote on any matter on which such
Shares are entitled to vote and each fractional dollar amount shall be entitled to a proportionate fractional vote. Without limiting
the power of the Trustees in any way to designate otherwise in accordance with the preceding sentence, the Trustees hereby establish
that each whole Share shall be entitled to one vote as to any matter on which it is entitled to vote and each fractional Share
shall be entitled to a proportionate fractional vote. There shall be no cumulative voting in the election of Trustees. Shares may
be voted in person or by proxy or in any manner provided for in the By-Laws. The By-Laws may provide that proxies may be given
by any electronic or telecommunications device or in any other manner, but if a proposal by anyone other than the officers or Trustees
is submitted to a vote of the Shareholders of any Series or Class, or if there is a proxy contest or proxy solicitation or proposal
in opposition to any proposal by the officers or Trustees, Shares may be voted only in person or by written proxy. Until Shares
of a Series are issued, as to that Series the Trustees may exercise all rights of Shareholders and may take any action required
or permitted to be taken by Shareholders by law, this Declaration or the By-Laws. Meetings of Shareholders shall be called and
notice thereof and record dates therefor shall be given and set as provided in the By-Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Quorum;
Required Vote</U>. One-third of the Outstanding Shares of each Series or Class, or one-third of the Outstanding Shares of the
Trust, entitled to vote in person or by proxy shall be a quorum for the transaction of business at a Shareholders&#8217;
meeting with respect to such Series or Class, or with respect to the entire Trust, respectively. Any lesser number shall be
sufficient for adjournments. In addition, any meeting of Shareholders may be adjourned one or more times from time to time by
the chairman of the meeting to another time for any reason, including the failure of a quorum to be present at the meeting
with respect to any proposal or the failure of any proposal to receive sufficient votes for approval, and as to one or more
proposals regardless of whether action has been taken on other matters. Any adjourned meeting may be held as adjourned one or
more times to a date not more than ninety (90) days beyond the originally scheduled meeting date. Notice of adjournment of a
Shareholders&#8217; meeting to another time or place need not be given, if such time and place (which shall include a meeting
held solely by means of remote communications) are announced at the meeting. Prior to the date upon which any meeting of
Shareholders is to be held, the Board of Trustees or the President may postpone such meeting </FONT>one or more times for any
reason to a date not more than ninety (90) days beyond the originally scheduled meeting date by giving notice to each
Shareholder entitled to vote at the meeting so postponed of the place (which shall include a meeting held solely by means of
remote communications), date and hour at which such meeting will be held. Such notice shall be given not fewer than two (2)
days before the date of such meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">No new record date
need be fixed for any meeting that is postponed and/or adjourned as provided in this Section. If, after a postponement or adjournment,
a new record date is fixed for the postponed or adjourned meeting, the Secretary shall give notice of the postponed or adjourned
meeting to Shareholders of record entitled to vote at such meeting. If a quorum is present with respect to any one or more proposals,
the chairman of the meeting may, but shall not be required to, cause a vote to be taken with respect to any such proposal or proposals
which vote can be certified as final and effective notwithstanding the adjournment of the meeting with respect to any other proposal
or proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Except when a larger
vote is required by the 1940 Act, this Declaration or the By-Laws, a majority of the Shares voting at a Shareholders&#8217; meeting
in person or by proxy shall decide any matters to be voted upon with respect to the entire Trust and a plurality of such Shares
shall elect a Trustee; provided, that if this Declaration or applicable law permits or requires that Shares be voted on any matter
by individual Series or Classes, then a majority of the Shares of that Series or Class (or, if required by law, a majority of the
Shares outstanding and entitled to vote of that Series or Class) voting at a Shareholders&#8217; meeting in person or by proxy
on the matter shall decide that matter insofar as that Series or Class is concerned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 3. <FONT STYLE="font-size: 10pt"><U>Record
Dates</U>. For the purpose of determining the Shareholders of any Series (or Class) who are entitled to receive payment of any
dividend or of any other distribution, the Trustees may from time to time fix a date, which shall be before the date for the payment
of such dividend or such other payment, as the record date for determining the Shareholders of such Series (or Class) having the
right to receive such dividend or distribution. Without fixing a record date, the Trustees may for distribution purposes close
the register or transfer books for one or more Series (or Classes) any time prior to the payment of a distribution. Nothing in
this Section&nbsp;shall be construed as precluding the Trustees from setting different record dates for different Series (or Classes).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 4. <FONT STYLE="font-size: 10pt"><U>Additional
Provisions</U>. The By-Laws may include further provisions for Shareholders&#8217; votes and meetings and related matters.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VIII<BR>
<BR>
EXPENSES OF THE TRUST AND SERIES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Payment
of Expenses by the Trust</U>. Subject to Article&nbsp;V, Section&nbsp;4, the Trust or a particular Series shall pay, or shall
reimburse the Trustees from the assets belonging to all Series or the particular Series, for their expenses (or the expenses
of a Class of such Series) and disbursements, including, but not limited to, interest charges, taxes, brokerage fees and
commissions; expenses of issue, repurchase and redemption of Shares; insurance premiums; applicable fees, interest charges
and expenses of third parties, including the Trust&#8217;s investment advisers, managers, administrators, distributors, </FONT>custodians,
transfer agents and fund accountants; fees of pricing, interest, dividend, credit and other reporting services; costs of
membership in trade associations; telecommunications expenses; funds transmission expenses; auditing, legal and compliance
expenses; costs of forming the Trust and its Series and maintaining its existence; costs of preparing and printing the
prospectuses of the Trust and each Series, statements of additional information and Shareholder reports and delivering them
to Shareholders; expenses of meetings of Shareholders and proxy solicitations therefor; costs of maintaining books and
accounts; costs of reproduction, stationery and supplies; fees and expenses of the Trustees; compensation of the
Trust&#8217;s officers and employees and costs of other personnel performing services for the Trust or any Series; costs of
Trustee meetings; Commission registration fees and related expenses; state or foreign securities laws registration fees and
related expenses; and for such non-recurring items as may arise, including litigation to which the Trust or a Series (or a
Trustee or officer of the Trust acting as such) is a party, and for all losses and liabilities by them incurred in
administering the Trust. The Trustees shall have a lien on the assets belonging to the appropriate Series, or in the case of
an expense allocable to more than one Series, on the assets of each such Series, prior to any rights or interests of the
Shareholders thereto, for the reimbursement to them of such expenses, disbursements, losses and liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Payment
of Expenses by Shareholders</U>. The Trustees shall have the power, as frequently as they may determine, to cause each Shareholder,
or each Shareholder of any particular Series, to pay directly, in advance or arrears, for charges of the Trust&#8217;s custodian
or transfer, shareholder servicing or similar agent, an amount fixed from time to time by the Trustees, by setting off such charges
due from such Shareholder from declared but unpaid dividends owed such Shareholder and/or by reducing the number of Shares in the
account of such Shareholder by that number of full and/or fractional Shares which represents the outstanding amount of such charges
due from such Shareholder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
IX<BR>
<BR>
MISCELLANEOUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 1. <FONT STYLE="font-size: 10pt"><U>Trust
Not a Partnership</U>. This Declaration creates a trust and not a partnership. No Trustee shall have any power to bind personally
either the Trust&#8217;s officers or any Shareholder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 2. <FONT STYLE="font-size: 10pt"><U>Trustee
Action</U>. The exercise by the Trustees of their powers and discretion hereunder in good faith and with reasonable care under
the circumstances then prevailing shall be binding upon everyone interested. Subject to the provisions of Article&nbsp;IV, the
Trustees shall not be liable for errors of judgment or mistakes of fact or law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 3. <FONT STYLE="font-size: 10pt"><U>Record
Dates</U>. The Trustees may fix in advance a date up to ninety (90) days before the date of any Shareholders&#8217; meeting, or
the date for the payment of any dividends or other distributions, or the date for the allotment of rights, or the date when any
change or conversion or exchange of Shares shall go into effect as a record date for the determination of the Shareholders entitled
to notice of, and to vote at, any such meeting, or entitled to receive payment of such dividend or other distribution, or to receive
any such allotment of rights, or to exercise such rights in respect of any such change, conversion or exchange of Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4. <FONT STYLE="font-size: 10pt"><U>Termination
of the Trust</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">This Trust shall have perpetual existence subject to the provisions of this Section&nbsp;4.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
Trust or any Series or Class thereof may be dissolved and terminated by the affirmative vote of not less than three-quarters of
the Trustees then in office by written notice to the Shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">In
connection with subsection (b) or to the extent appropriate in connection with a reorganization as provided in Article IX, Section
6, upon making reasonable provision for the payment of all known liabilities of all Series or any affected Series or Classes,
by such assumption or otherwise, the Trustees shall distribute the remaining proceeds or assets (as the case may be) ratably among
the Shareholders of all Series or any affected Series or Classes; however, the payment to any particular Class of such Series
may be reduced by any fees, expenses or charges allocated to that Class.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Upon
completion of the distribution of the remaining proceeds or assets pursuant to subsection (c) above, the Trust or affected Series
or Classes shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties hereunder
with respect thereto and the right, title and interest of all parties therein shall be canceled and discharged. Upon termination
of the Trust, following completion of winding up of its business, the Trustees shall cause a certificate of cancellation of the
Trust&#8217;s certificate of trust to be filed in accordance with the Delaware Act, which certificate of cancellation may be signed
by any one Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 5. <FONT STYLE="font-size: 10pt"><U>Conversion
to an Open-End Investment Company</U>. Notwithstanding any other provisions of this Declaration or the By-Laws of the Trust, a
favorable vote of a majority of the Continuing Trustees then in office followed by the favorable vote of the holders of not less
than three-quarters of the Shares of each affected Class or Series outstanding, voting as separate classes or series, shall be
required to approve, adopt or authorize an amendment to this Declaration that makes the Shares a &#8220;redeemable security&#8221;
as that term is defined in the 1940 Act, unless such amendment has been approved by three-quarters of the Continuing Trustees,
in which case approval by a vote of a majority of the Shares outstanding and entitled to vote shall be required. Upon the adoption
of a proposal to convert the Trust from a &#8220;closed-end company&#8221; to an &#8220;open-end company&#8221; as those terms
are defined by the 1940 Act and the necessary amendments to this Declaration to permit such a conversion of the Trust&#8217;s outstanding
Shares entitled to vote, the Trust shall, upon complying with any requirements of the 1940 Act and state law, become an &#8220;open-end&#8221;
investment company. Such affirmative vote or consent shall be in addition to the vote or consent of the holders of the Shares otherwise
required by law, or any agreement between the Trust and any national securities exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 6. <FONT STYLE="font-size: 10pt"><U>Reorganization</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Except
as provided in clause&nbsp;(b) of this Section&nbsp;6 or in Section 7 of this Article&nbsp;IX, subject to the affirmative
vote of not less than three-quarters of the Outstanding Shares entitled to vote of the Trust or any affected Series, the
Trust may merge or consolidate with any other corporation, association, trust or other organization or may sell, lease or
exchange all or substantially all of the Trust Property or the property, including its good will, upon such terms and
conditions and for such consideration when and as authorized by a majority of the Continuing Trustees; provided however, if
at </FONT>least three-quarters of the Continuing Trustees then in office have approved such transaction, then the actions may
be approved by the affirmative vote of a majority of the Outstanding Shares entitled to vote of the Trust or the affected
Series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Notwithstanding
anything else herein, to change the Trust&#8217;s form or place of organization a majority of the Continuing Trustees may, without
Shareholder approval unless such approval is required by applicable law, (i)&nbsp;cause the Trust to merge or consolidate with
or into one or more entities, if the surviving or resulting entity is the Trust or any other corporation, association, trust or
other organization, or a series thereof, (ii)&nbsp;cause the Shares to be exchanged under or pursuant to any state or federal
statute to the extent permitted by law, or (iii)&nbsp;cause the Trust to incorporate under the laws of Delaware or any other U.S.
jurisdiction. Any agreement of merger or consolidation or certificate of merger may be signed by a majority of Continuing Trustees
and facsimile signatures conveyed by electronic or telecommunication means shall be valid.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Pursuant
to and in accordance with the provisions of Section&nbsp;3815(f) of the Delaware Act, an agreement of merger or consolidation
approved by the Continuing Trustees, and if applicable, Shareholders in accordance with this Section&nbsp;6 may effect any amendment
to the Declaration or effect the adoption of a new trust instrument of the Trust if it is the surviving or resulting trust in
the merger or consolidation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
Continuing Trustees may create one or more statutory trusts to which all or any part of the assets, liabilities, profits or losses
of the Trust or any Series or Class thereof may be transferred and may provide for the conversion of Shares in the Trust or any
Series or Class thereof into beneficial interests in any such newly created trust or trusts or any series or classes thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 7. <FONT STYLE="font-size: 10pt"><U>Certain
Transactions</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Notwithstanding any other provision of this Declaration and subject to the exceptions provided
in paragraph&nbsp;(d) of this Section, the types of transactions described in paragraph&nbsp;(c) of this Section&nbsp;shall require
the affirmative vote or consent of a majority of the Continuing Trustees then in office followed by the affirmative vote or consent
of holders of not less than three-quarters of the Shares of each affected Class or Series outstanding, votes voting as separate
classes or series, when a Principal Shareholder (as defined in paragraph&nbsp;(b) of this Section) is a party to the transaction.
Such affirmative vote or consent shall be in addition to the vote or consent of the holders of Shares otherwise required by law
or by the terms of any Class or Series of preferred stock, whether now or hereafter authorized, or any agreement between the Trust
and any national securities exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
term &#8220;Principal Shareholder&#8221; shall mean any corporation, Person or other entity which is the beneficial owner,
directly or indirectly, of five percent (5%) or more of the outstanding Shares of any Class or Series and shall include any
affiliate or associates, as such terms are defined in clause&nbsp;(ii) below, of a Principal Shareholder. For the purpose of
this Section, in addition to the Shares which a corporation, Person or other entity beneficially owns directly, (a)&nbsp;any
corporation, Person or other entity shall be deemed to be the beneficial owner of any Shares (i)&nbsp;which it has the right
to acquire pursuant to any agreement or upon exercise of conversion rights or warrants, or otherwise (but excluding share
options granted by the Trust) or (ii)&nbsp;which are beneficially owned, directly or indirectly (including </FONT>Shares
deemed owned through application of clause&nbsp;(i) above, by any other corporation, Person or entity with which its
 &#8220;affiliate&#8221; or &#8220;associate&#8221; (as defined below) has any agreement, arrangement or understanding for the
purpose of acquiring, holding, voting or disposing of Shares, of which is its &#8220;affiliate&#8221; or
 &#8220;associate&#8221; as those terms are defined in Rule 12b-2 of the General Rules and Regulations under the Securities
Exchange Act of 1934, and (b)&nbsp;the outstanding Shares shall include Shares deemed owned through application of
clauses&nbsp;(i) and (ii) above but shall not include any other Shares which may be issuable pursuant to any agreement, or
upon exercise of conversion rights or warrants, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">This Section&nbsp;shall apply to the following transactions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The merger or consolidation of the Trust or any subsidiary of the Trust with or into any Principal
Shareholder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The issuance of any securities of the Trust to any Principal Shareholder for cash (other than
pursuant to any automatic dividend reinvestment plan).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
sale, lease or exchange to the Trust or any subsidiary thereof, in exchange for securities of the Trust, of any assets of any
Principal Shareholder (except assets having an aggregate fair market value of less than $1,000,000, aggregating for the purpose
of such computation all assets sold, leased or exchanged in any series of similar transactions within a twelve-month period.)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The sale, lease or exchange to the Trust or any subsidiary thereof, in exchange for securities
of the Trust, of any assets of any Principal Shareholder (except assets having an aggregate fair market value of less than $1,000,000,
aggregating for the purposes of such computation all assets sold, leased or exchanged in any series of similar transactions within
a twelve-month period).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The provisions of this Section&nbsp;shall not be applicable to (i)&nbsp;any of the transactions
described in paragraph&nbsp;(c) of this Section&nbsp;if three-quarters of the Continuing Trustees shall by resolution have approved
a memorandum of understanding with such Principal Shareholder with respect to and substantially consistent with such transaction,
in which case approval by the vote of a majority of the Shares outstanding and entitled to vote shall be the only vote of Shareholders
required by this Section, or (ii)&nbsp;any such transaction with any entity of which a majority of the outstanding shares of all
classes and series of a stock normally entitled to vote in elections of directors is owned of record or beneficially by the Trust
and its subsidiaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
Board of Trustees shall have the power and duty to determine for the purposes of this Section&nbsp;on the basis of
information known to the Trust whether (i)&nbsp;a corporation, person or entity beneficially owns five percent (5%) or more
of the outstanding Shares of any Class or Series, (ii)&nbsp;a corporation, person or entity is an &#8220;affiliate&#8221; or
 &#8220;associate&#8221; (as defined above)&nbsp;of another, (iii)&nbsp;the assets being acquired or leased to or by the Trust
or any subsidiary thereof constitute a substantial part of the assets of the Trust and have an aggregate fair market value of
less than $1,000,000, and (iv)&nbsp;the memorandum of understanding referred to in paragraph&nbsp;(d) hereof is substantially
consistent with the </FONT>transaction covered thereby. Any such determination shall be conclusive and binding for all
purposes of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 8. <FONT STYLE="font-size: 10pt"><U>Declaration
of Trust</U>. The original or a copy of this Declaration of Trust and of each amendment hereto or Declaration of Trust supplemental
shall be kept at the office of the Trust where it may be inspected by any Shareholder. Anyone dealing with the Trust may rely on
a certificate by a Trustee or an officer of the Trust as to the authenticity of the Declaration of Trust or any such amendments
or supplements and as to any matters in connection with the Trust. The masculine gender herein shall include the feminine and neuter
genders. Headings herein are for convenience only and shall not affect the construction of this Declaration of Trust. This Declaration
of Trust may be executed in any number of counterparts, each of which shall be deemed an original.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 9. <FONT STYLE="font-size: 10pt"><U>Applicable
Law</U>. This Declaration and the Trust created hereunder are governed by and construed and administered according to the Delaware
Act and the applicable laws of the State of Delaware; provided, however, that there shall not be applicable to the Trust, the Trustees
or this Declaration of Trust (a)&nbsp;the provisions of Section&nbsp;3540 of Title 12 of the Delaware Code, or (b)&nbsp;any provisions
of the laws (statutory or common) of the State of Delaware (other than the Delaware Act) pertaining to trusts which relate to or
regulate (i)&nbsp;the filing with any court or governmental body or agency of trustee accounts or schedules of trustee fees and
charges, (ii)&nbsp;affirmative requirements to post bonds for trustees, officers, agents or employees of a trust, (iii)&nbsp;the
necessity for obtaining court or other governmental approval concerning the acquisition, holding or disposition of real or personal
property, (iv)&nbsp;fees or other sums payable to trustees, officers, agents or employees of a trust, (v)&nbsp;the allocation of
receipts and expenditures to income or principal, (vi)&nbsp;restrictions or limitations on the permissible nature, amount or concentration
of trust investments or requirements relating to the titling, storage or other manner of holding of trust assets, or (vii)&nbsp;the
establishment of fiduciary or other standards of responsibilities or limitations on the acts or powers of trustees, which are inconsistent
with the limitations or liabilities or authorities and powers of the Trustees set forth or referenced in this Declaration. The
Trust shall be of the type commonly called a Delaware statutory trust, and, without limiting the provisions hereof, the Trust may
exercise all powers which are ordinarily exercised by such a trust under Delaware law. The Trust specifically reserves the right
to exercise any of the powers or privileges afforded to trusts or actions that may be engaged in by trusts under the Delaware Act,
and the absence of a specific reference herein to any such power, privilege or action shall not imply that the Trust may not exercise
such power or privilege or take such actions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 10. <FONT STYLE="font-size: 10pt"><U>Amendments</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
Trustees may, without any Shareholder vote, amend or otherwise supplement this Declaration by making an amendment, a
Declaration of Trust supplemental hereto or an amended and restated trust instrument; provided, that Shareholders shall have
the right to vote on any amendment (a)&nbsp;which would affect the voting rights of Shareholders granted in Article&nbsp;VII,
Section&nbsp;l, (b)&nbsp;to this Section&nbsp;10, (c)&nbsp;required to be approved by Shareholders by the 1940 Act or by the
Trust&#8217;s registration statement(s) filed with the Commission or any State, and (d)&nbsp;submitted to them by the
Trustees in their discretion. Any amendment submitted to Shareholders which the Trustees determine would affect the
Shareholders of any Series shall be authorized by vote of the Shareholders of such Series and no vote shall be required of
Shareholders of a Series not affected. Notwithstanding anything else herein, any </FONT>amendment to Article&nbsp;IV which
would have the effect of reducing the indemnification and other rights provided thereby to Trustees, officers, employees, and
agents of the Trust or to Shareholders or former Shareholders, and any repeal or amendment of this sentence shall each
require the affirmative vote of the holders of two-thirds of the Outstanding Shares of the Trust entitled to vote thereon and
no such amendment shall effect the right to indemnification of any person who is no longer a Trustee, Officer or employee or
agent at the time of such amendment or of any person with respect to any act or omission taken or omitted prior to the
adoption or enactment of such amendment or repeal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 28; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
Trustees may not amend this Declaration of Trust to eliminate the rights of Shareholders of any Class or Series as set forth in
this Section&nbsp;10(b) to vote on any amendment of this Declaration of Trust or the By-Laws or alter or amend the percentage
of voting Shares required to approve any amendment or action which requires a specific Shareholder vote under this Declaration
of Trust or the By-Laws unless an equivalent vote has authorized such an amendment of the Declaration of Trust or By-Laws. Any
amendment which adversely affects the holders of one or more Classes or Series of Shares shall require a vote of the Shareholders
holding a majority of the Shares of each Class or Series so adversely affected and entitled to vote thereon and no vote of Shareholders
of any Class or Series not so adversely affected shall be required, except that any amendment of any provision of Article&nbsp;IX,
Sections&nbsp;5, 6 or 7 shall require the vote of the Shareholders holding three-quarters of the Shares of each Class and Series
entitled to vote thereon, regardless of the percentage of Trustees recommending such amendment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 11. <FONT STYLE="font-size: 10pt"><U>Derivative
Actions</U>. In addition to the requirements set forth in Section&nbsp;3816 of the Delaware Act, a Shareholder may bring a derivative
action on behalf of the Trust only if the following conditions are met:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
Shareholder or Shareholders must make a pre-suit demand upon the Trustees to bring the subject action unless an effort to cause
the Trustees to bring such an action is not likely to succeed. For purposes of this Section&nbsp;11(a), a demand on the Trustees
shall only be deemed not likely to succeed and therefore excused if a majority of the Board of Trustees, or a majority of any
committee established to consider the merits of such action, is composed of Trustees who are not &#8220;independent trustees&#8221;
(as that term is defined in the Delaware Act).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Unless
a demand is not required under paragraph&nbsp;(a) of this Section&nbsp;11, Shareholders eligible to bring such derivative action
under the Delaware Act who hold at least 10% of the Outstanding Shares of the Trust, or 10% of the Outstanding Shares of the Series
or Class to which such action relates, shall join in the request for the Trustees to commence such action; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Unless
a demand is not required under paragraph&nbsp;(a) of this Section&nbsp;11, the Trustees must be afforded a reasonable amount of
time to consider such shareholder request and to investigate the basis of such claim. The Trustees shall be entitled to retain
counsel or other advisers in considering the merits of the request and shall require an undertaking by the Shareholders making
such request to reimburse the Trust for the expense of any such advisers in the event that the Trustees determine not to bring
such action.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 29; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">For purposes of this
Section&nbsp;11, the Board of Trustees may designate a committee of one Trustee to consider a Shareholder demand if necessary to
create a committee with a majority of Trustees who are independent trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 12. <FONT STYLE="font-size: 10pt"><U>Fiscal
Year</U>. The fiscal year of the Trust shall end on a specified date as set forth in the By-Laws. The Trustees may change the fiscal
year of the Trust without Shareholder approval.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section 13. <FONT STYLE="font-size: 10pt"><U>Severability</U>.
The provisions of this Declaration are severable. If the Trustees determine, with the advice of counsel, that any provision hereof
conflicts with the 1940 Act, the regulated investment company provisions of the Internal Revenue Code or with other applicable
laws and regulations, the conflicting provision shall be deemed never to have constituted a part of this Declaration; provided,
however, that such determination shall not affect any of the remaining provisions of this Declaration or render invalid or improper
any action taken or omitted prior to such determination. If any provision hereof shall be held invalid or unenforceable in any
jurisdiction, such invalidity or unenforceability shall attach only to such provision only in such jurisdiction and shall not affect
any other provision of this Declaration.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">{REMAINDER OF PAGE&nbsp;INTENTIONALLY LEFT
BLANK.}</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 30; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the undersigned being all the Trustees of the Trust have executed this instrument as Trustee and not individually and as of the
date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">/s/
    John P. Calamos, Sr.</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">John P. Calamos, Sr.</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Virginia
    G. Breen</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Virginia G. Breen</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ John
    E. Neal</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">John E. Neal</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ William
    R. Rybak</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">William R. Rybak</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Karen
    L. Stuckey</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Karen L. Stuckey</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Christopher M. Toub </TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Christopher M. Toub </TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Lloyd
    A. Wennlund</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Lloyd A. Wennlund</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 31; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B
<SEQUENCE>3
<FILENAME>tm215399d1_ex99-b.htm
<DESCRIPTION>EXHIBIT B
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: none; text-align: right">Exhibit 99.b</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Calamos
Convertible Opportunities and Income Fund</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">BY-LAWS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-weight: normal; text-transform: none">(as
amended and restated through January 12, 2021)</FONT>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Article
1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: none; text-align: center"><B>Agreement and Declaration of Trust</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">1.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>General. </B> These By-Laws shall be subject to the Agreement and Declaration of Trust, as from time to time amended,
supplemented or restated (the &#8220;Declaration of Trust&#8221;) of Calamos Convertible Opportunities and Income Fund (the &#8220;Trust&#8221;),
a Delaware statutory trust established by the Declaration of Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">1.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Definitions.</B> Unless otherwise defined herein, the terms used herein have the respective meanings given them in the
Declaration of Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">Offices</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">2.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Offices. </B> The Trust may have such offices in such places without as well as within the State of Delaware as the Trustees
may from time to time determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">2.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Registered Office and Registered Agent.</B> The registered office of the Trust shall be located in the City of Wilmington,
State of Delaware or such other location within the State of Delaware as the Trustees may from time to time determine. The Board
of Trustees shall establish a registered office in the State of Delaware and shall appoint a registered agent for service of process
in the State of Delaware for the Trust as provided in the Delaware Statutory Trust Act, 12 <U>Del</U>. <U>C</U>. &sect;&sect; 3801,
et seq., as amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
3</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">Shareholders</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Annual Meetings. </B> Annual meetings of the Shareholders of the Trust or a Series or Class thereof shall be held on
such date and at such place (which shall include a meeting held solely by means of remote communications) within or without the
State of Delaware as the Trustees shall designate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Special Meetings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Special meetings of the Shareholders may be called at any time by the Chairman, the President
or the Trustees. Subject to subsection&nbsp;(c) of this Section&nbsp;3.2, a special meeting of Shareholders shall also be called
by the Secretary of the Trust upon the written request of the Shareholders entitled to cast not less than a majority of all the
votes entitled to be cast at such meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt">Any
Shareholder of record seeking to have Shareholders request a special meeting shall, by sending written notice to the
Secretary (the &#8220;Record Date Request Notice&#8221;) by registered mail, return receipt requested, request the Trustees
to fix a record date to determine the Shareholders entitled to request a special meeting (the &#8220;Requested Record
Date&#8221;). The Record </FONT>Date Request Notice shall set forth the purpose of the meeting and the matters proposed to be
acted on at it, shall be signed by one or more Shareholders of record as of the date of signature (or their duly authorized
agents), shall bear the date of signature of each such Shareholder (or other agent) and shall set forth all information
relating to each such Shareholder that must be disclosed in solicitations of proxies for election of trustees in an election
contest (even if an election contest is not involved), or is otherwise required, in each case pursuant to Regulation 14A
under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), and the rules and regulations
promulgated thereunder. Upon receiving the Record Date Request Notice, the Trustees may fix a Requested Record Date. The
Requested Record Date shall not precede and shall not be more than ten days after the close of business on the date on which
the resolution fixing the Requested Record Date is adopted by the Trustees. If the Trustees, within thirty days after the
date on which a valid Record Date Request Notice is received, fail to adopt a resolution fixing the Requested Record Date and
make a public announcement of such Requested Record Date, the Requested Record Date shall be the close of business on the
30th day after the first date on which the Record Date Request Notice is received by the Secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">In order for any Shareholder to request a special meeting, one or more written requests for
a special meeting signed by Shareholders of record (or their duly authorized agents) as of the Requested Record Date entitled to
cast not less than a majority (the &#8220;Special Meeting Percentage&#8221;) of all of the votes entitled to be cast at such meeting
(the &#8220;Special Meeting Request&#8221;) shall be delivered to the Secretary. The purpose of the meeting and the matters proposed
to be acted on at it, which may be presented by the Special Meeting Request, shall be limited to the matters set forth in the Record
Date Request Notice received by the Secretary. The Special Meeting Request shall bear the date of signature of each such Shareholder
(or other agent) signing the Special Meeting Request, shall set forth the name and address, as they appear in the Trust&#8217;s
books, of each Shareholder signing such request (or on whose behalf the Special Meeting Request is signed) and the class and number
of shares of the Trust which are owned of record and beneficially by each such Shareholder, shall be sent to the Secretary by registered
mail, return receipt requested, and shall be received by the Secretary within sixty days after the Request Record Date. Any requesting
Shareholder may revoke his, her or its request for a special meeting at any time by written revocation delivered to the Secretary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The Secretary shall inform the requesting Shareholders of the reasonably estimated cost of
preparing and mailing the notice of meeting (including the Trust&#8217;s proxy materials). The Secretary shall not be required
to call a special meeting upon Shareholder request and such meeting shall not be held unless, in addition to the documents required
by paragraphs&nbsp;(b) and (c) of this Section&nbsp;3.2, the Secretary receives payment of such reasonably estimated cost prior
to the mailing of any notice of the meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt">Except
as provided in the next sentence, any special meeting shall be held at such place (which shall include a meeting held solely
by means of remote communications), date and time as may be designated by the President, Chairman or Trustees, whoever has
called the meeting. In the case of any special meeting called by the Secretary upon the request of Shareholders (a
 &#8220;Shareholder Requested Meeting&#8221;), such meeting shall be held at such place (which shall include a meeting held
solely by means of remote communications), date and time as may be designated by the Trustees; PROVIDED, however, that the
date of any Shareholder Requested Meeting shall be not more than ninety&nbsp;days after the record date for such meeting (the
 &#8220;Meeting Record Date&#8221;); and PROVIDED FURTHER that if the Trustees fail to designate, within thirty&nbsp;days
after the date that a valid Special Meeting Request is actually received by the Secretary (the &#8220;Delivery Date&#8221;),
a date and time for a Shareholder Requested Meeting, then such meeting shall be held at 2:00&nbsp;p.m. Central Time on the
90th day after the date the request for such </FONT>meeting is actually received by the Trust or, if such 90th day is not a
Business Day (as defined below), on the first preceding Business Day; and PROVIDED FURTHER that in the event that the
Trustees fail to designate a place (which shall include a meeting held solely by means of remote communications) for a
Shareholder Requested Meeting within thirty&nbsp;days after the Delivery Date, then such meeting shall be held at the
principal office of the Trust. In fixing a date for any special meeting, the President, Chairman or Trustees may consider
such factors as he, she, or they deem(s) relevant within the good faith exercise of business judgment, including, without
limitation, the nature of the matters to be considered, the facts and circumstances surrounding any request for a meeting and
any plan of the Trustees to call an annual meeting or a special meeting. In the case of any Shareholder Requested Meeting, if
the Trustees fail to fix a Meeting Record Date that is a date within thirty&nbsp;days after the Delivery Date, then the close
of business on the 30th day after the Delivery Date shall be the Meeting Record Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">If at any time as a result of written revocations of requests for the special meeting, Shareholders
of record (or their duly authorized agents) as of the Request Record Date entitled to cast less than the Special Meeting Percentage
shall have delivered and not revoked requests for a special meeting, the Secretary may refrain from mailing the notice of the meeting
or, if the notice of the meeting has been mailed, the Secretary may revoke the notice of the meeting at any time before ten&nbsp;days
prior to the meeting if the Secretary has first sent to all other requesting Shareholders written notice of such revocation and
of intention to revoke the notice of the meeting. Any request for a special meeting received after a revocation by the Secretary
of a notice of a meeting shall be considered a request for a new special meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The Chairman, the President or the Trustees may appoint regionally or nationally recognized
independent inspectors of elections to act as the agent of the Trust for the purpose of promptly performing a ministerial review
of the validity of any purported Special Meeting Request received by the Secretary. For the purpose of permitting the inspectors
to perform such review, no such purported request shall be deemed to have been delivered to the Secretary until the earlier of
(i)&nbsp;five Business Days after receipt by the Secretary of such purported request and (ii)&nbsp;such date as the independent
inspectors certify to the Trust that the valid requests received by the Secretary represent at least a majority of the issued and
outstanding shares of stock that would be entitled to vote at such meeting. Nothing contained in this paragraph&nbsp;(g) shall
in any way be construed to suggest or imply that the Trust or any Shareholder shall not be entitled to contest the validity of
any request, whether during or after such five&nbsp;Business Day period, or to take any other action (including, without limitation,
the commencement, prosecution or defense of any litigation with respect thereto, and the seeking of injunctive relief in such litigation).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Business Day.</B> For purposes of these By-Laws, &#8220;Business Day&#8221; shall mean any day other than a Saturday,
a Sunday or a day on which banking institutions in the State of New York are authorized or obligated by law or executive order
to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B>Notice
of Meetings.</B> Notice of all meetings of the Shareholders, stating the time, place (which shall include a meeting held
solely by means of remote communications) and purposes of the meeting, shall be given by the Trustees by mail or telegraphic
or electronic means, or given as otherwise provided herein, to each Shareholder at the Shareholder&#8217;s address as
recorded on the register of the Trust mailed at least ten&nbsp;days and not more than ninety&nbsp;days before the meeting,
PROVIDED, HOWEVER, that notice of a meeting need not be given to a Shareholder to whom such notice need not be given under
the proxy rules of the Commission under the 1940 Act and the Exchange Act; and PROVIDED, FURTHER, that notice of any
Shareholder Requested Meeting shall be provided in a manner and time consistent with Section&nbsp;3.2(e). Only the business
stated in the notice of the meeting shall be considered at such meeting. Any adjourned meeting may be held and adjourned
without further notice. No notice need be given to any Shareholder who shall have failed to inform the Trust of his or her
current address or if a written waiver of notice, executed before or after the meeting by the Shareholder who shall have
failed to inform the Trust of his or her current address or if a written waiver of notice, executed before or after the
meeting by the Shareholder or his or her attorney thereunto authorized, is filed with the records of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Record Date for Meetings and Other Purposes.</B> Except as provided in Section&nbsp;3.2, for the purpose of determining
the Shareholders who are entitled to notice of and to vote at any meeting, or to participate in any distribution, or for the purpose
of any other action, the Trustees may from time to time close the transfer books for such period, not exceeding thirty&nbsp;days,
as the Trustees may determine; or without closing the transfer books the Trustees may fix a date not more than ninety&nbsp;days
prior to the date of any meeting of Shareholders or distribution or other action as a record date for the determination of the
persons to be treated as Shareholders of record for such purposes, except for dividend payments which shall be governed by the
Declaration of Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Proxies.</B> At any meeting of Shareholders, any holder of Shares entitled to vote thereat may vote by proxy, provided
that no proxy shall be voted at any meeting unless it shall have been placed on file with the Secretary, or with such other officer
or agent of the Trust as the Secretary may direct, for verification prior to the time at which such vote shall be taken, and no
such proxy shall be voted or acted upon after three years from its date, unless the proxy provides for a longer period. A proxy
shall be irrevocable if it states that it is irrevocable and if, and only as long as, it is coupled with an interest sufficient
in law to support an irrevocable power. A Shareholder may revoke any proxy which is not irrevocable by attending the meeting and
voting in person or by delivering to the Secretary a revocation of the proxy or a new proxy bearing a later date. A proxy shall
be deemed signed if the Shareholder&#8217;s name is placed on the proxy, (whether by manual signature, typewriting, telegraphic
transmission, facsimile, other electronic means or otherwise) by the Shareholder or the Shareholder&#8217;s attorney-in-fact. Proxies
may be recorded by any electronic, telephonic, internet or other telecommunication device except as otherwise provided in the Declaration
of Trust. The placing of a Shareholder&#8217;s name on a proxy pursuant to telephonic or electronically transmitted instructions
pursuant to procedures reasonably designed to verify that such instructions have been authorized by the Shareholder shall constitute
execution of the proxy by or on behalf of the Shareholder. Proxies may be solicited in the name of one or more Trustees or one
or more of the officers of the Trust. Only Shareholders of record shall be entitled to vote. As determined by the Trustees without
the vote or consent of Shareholders, on any matter submitted to a vote of Shareholders each whole Share shall be entitled to one
vote as to any matter on which it is entitled to vote and each fractional Share shall be entitled to a proportionate fractional
vote. Without limiting their power to designate otherwise in accordance with the preceding sentence, the Trustees have established
in the Declaration of Trust that each whole share shall be entitled to one vote as to any matter on which it is entitled by the
Declaration of Trust to vote and fractional shares shall be entitled to a proportionate fractional vote. When any Share is held
jointly by several persons, any one of them may vote at any meeting in person or by proxy in respect of such Share, but if more
than one of them shall be present at such meeting in person or by proxy, and such joint owners or their proxies so present disagree
as to any vote to be cast, such vote shall not be received in respect of such Share. A proxy, including a photographic or similar
reproduction thereof and a telegram, cablegram, wireless or similar transmission thereof, purporting to be executed by or on behalf
of a Shareholder shall be presumed valid unless challenged at or prior to its exercise, and the burden of proving invalidity shall
rest on the challenger. If the holder of any such share is a minor or a person of unsound mind, and subject to guardianship or
the legal control of any other person as regards the charge or management of such Share, he or she may vote by his or her guardian
or such other person appointed or having such control, and such vote may be given in person or by proxy. Except as otherwise provided
herein or in the Declaration of Trust or the Delaware Statutory Trust Act, 12 <U>Del</U>. <U>C</U>. &sect;&sect; 3801 <U>et seq</U>.,
all matters relating to the giving, voting or validity of proxies shall be governed by the General Corporation Law of the State
of Delaware relating to proxies, and judicial interpretations thereunder, as if the Trust were a Delaware corporation and the Shareholders
were shareholders of a Delaware corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Inspection of Books.</B> The Trustees shall from time to time determine whether and to what extent, and at what times
and places, and under what conditions and regulations the accounts and books of the Trust or any of them shall be open to the
inspection of the Shareholders; and no Shareholder shall have any right to inspect any account or book or document of the Trust
except as conferred by law or otherwise by the Trustees or by resolution of the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Nominations and Proposals by Shareholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Annual Meetings of Shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Nominations of persons for election as a Trustee and the proposal of other business to be
considered by the Shareholders may be made at an annual meeting of Shareholders (i) pursuant to the Trust&#8217;s notice of meeting
(or any supplement thereto), (ii) by or at the direction of the Trustees or any committee thereof or (iii) by any Shareholder of
the Trust who was a Shareholder of record at the time the notice provided for in this Section 3.8(a) is delivered to the Secretary
and at the time of the annual meeting, who held Shares continuously for such period (the &#8220;Holding Period&#8221;), who is
entitled to vote at the meeting, who complied with the notice procedures set forth in this Section 3.8(a) and, with respect to
the proposal of business (other than nominations of persons for election as a Trustee), who held, together with any other Shareholders
proposing such business, Qualifying Shares continuously for the Holding Period. For purposes of this Section 3.8(a)(1), &#8220;Qualifying
Shares&#8221; shall mean 5% of the Outstanding Shares of the Trust or 5% of the Outstanding Shares of the Series or Class to which
the proposal relates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">For nominations for election
to the Trustees or other business to be properly brought before an annual meeting by a Shareholder pursuant to clause (iii)
of paragraph (a)(1) of this Section 3.8, the Shareholder must have given timely notice thereof in writing to the Secretary of
the Trust and any such proposed business (other than nominations of persons for election as a Trustee) must otherwise be a
proper matter for action by Shareholders. Without limiting the generality of the foregoing, no proposal may be made with
respect to any matter that the Shareholders do not have the right to vote on under Section 1 of Article VII of the
Declaration of Trust. To be timely, a Shareholder&#8217;s notice must be delivered to the Secretary at the principal
executive office of the Trust by not later than the close of business on the 90th day prior to the first anniversary of the
date of mailing of the notice for the preceding year&#8217;s annual meeting nor earlier than the close of business on the
120th day prior to the first anniversary of the date of the mailing of the notice for the preceding year&#8217;s annual
meeting; provided, however, that in the event that the date of the mailing of the notice for the annual meeting is advanced
or delayed by more than thirty days from the anniversary date of the mailing of the notice for the preceding year&#8217;s
annual meeting, notice by the Shareholder to be timely must be so delivered not earlier than the close of business on the
120th day prior to the date of mailing of the notice for such annual meeting and not later than the close of business on the
later of the 90th day prior to the date of mailing of the notice for such annual meeting or the 10th day following the day on
which public announcement of the date of mailing of the notice for such meeting is first made by the Trust. In no event shall
the public announcement of a postponement of the mailing of the notice for such annual meeting or of an adjournment or
postponement of an annual meeting to a later date or time commence a new time period for the giving of a Shareholder&#8217;s
notice as described above. A Shareholder&#8217;s notice to be proper must set forth: (a) as to the Shareholder giving the
notice and the beneficial owners, if any, on whose behalf the nomination or proposal is made (i) the name and address of such
Shareholder, as they appear in the Trust&#8217;s books, and of such beneficial owner, (ii) the class or series and number of
all shares of the Trust owned beneficially and of record by Shareholder at the time the recommendation is submitted and the
dates on which such shares were acquired, specifying the number of shares owned beneficially, (iii) a description of all
arrangements, agreements, or understandings between the Shareholder and any other person or persons (including their names)
pursuant to which the Shareholder recommendation is being made (including, in the case of a nomination, the candidate), and
if none, so specify, (iv) a representation, which is complied with, that the Shareholder is a Shareholder of record of the
Trust entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to propose such business or
nomination, (v) a representation, which is complied with, that the Shareholder or the beneficial owner, if any, intends or is
part of a group which intends to deliver a proxy statement and/or form of proxy to Shareholders entitled to cast the
requisite number of votes to approve or adopt the proposal or elect the nominee, and (vi) any other information relating to
such Shareholder and beneficial owner, if any, that must be disclosed in solicitation of proxies for election of trustees in
an election contest (even if an election contest is not involved), or otherwise would be required, in each case pursuant to
the Exchange Act and the rules and regulations promulgated thereunder; (b) as to each person whom the Shareholder proposes to
nominate for election as a Trustee (i) a full listing of the proposed candidate&#8217;s education, experience (including
knowledge of the investment company industry, experience as a trustee or director or senior officer of public or private
companies, and directorships on other boards of other registered investment companies), current employment, date of birth,
business and residence address, and the names and addresses of at least three professional references, (ii) information as to
whether the candidate is, has been or may be an &#8220;interested person&#8221; (as such term is defined in the Investment
Company Act of 1940, as amended) of the Trust, Calamos Advisors LLC (the &#8220;Adviser&#8221;) or any affiliate of the
Adviser, and, if believed not to be or have been an &#8220;interested person,&#8221; information regarding the candidate that
will be sufficient for the Trustees to make such determination, (iii) the written and signed consent of the candidate to be
named as a nominee and to serve as a Trustee of the Trust, if elected, (iv) the class or series and number of all shares of
the Trust or any other Trust owned of record or beneficially by the candidate, as reported by the candidate, and (v) such
other information that would be helpful to the Trustees in evaluating the candidate; and (c) as to any other business that
the Shareholder proposes to bring before the meeting, a brief description of the business desired to be brought before the
meeting, the text of the proposal or business (including the text of any resolutions proposed for consideration), the reasons
for conducting such business at the meeting and any material interest in such business of such Shareholder and the beneficial
owner, if any, on whose behalf the proposal is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">A Shareholder providing notice
of any nomination or any other business proposed to be made at a meeting shall further update and supplement such notice so
that: (a) the information provided in such notice pursuant to this Section 3.8 shall be complete and correct as of the record
date for determining the Shareholders entitled to receive notice of the meeting, and such update and supplement shall be
delivered to, or be mailed and received by, the Secretary at the principal executive office of the Trust not later than five
(5) business days after the record date for determining the Shareholders entitled to receive notice of such meeting and (b)
with respect to nominations of persons for election as a Trustee, any additional information reasonably requested by the
Board of Trustees to determine that each person whom the Shareholder proposes to nominate for election as a Trustee is
qualified to act as a Trustee, including information reasonably requested by the Board of Trustees to determine that such
proposed candidate has met the trustee qualifications as set out in Section 4.6 of these By-Laws, is provided, and such
update and supplement shall be delivered to, or be mailed and received by, the Secretary at the principal executive office of
the Trust not later than five (5) business days after the request by the Board of Trustees for additional information
regarding trustee qualifications has been delivered to, or mailed and received by, such Shareholder providing notice of any
nomination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">In the event that the number of trustees to be elected to the Board of Trustees is increased
effective after the time period for which nominations would otherwise be due under paragraph (a)(1) of this Section 3.8 and there
is no public announcement by the Trust of such action or specifying the size of the increased Trustees at least one hundred days
prior to the first anniversary of the date of mailing of the notice for the preceding year&#8217;s annual meeting, a Shareholder&#8217;s
notice required by this Section 3.8 shall also be considered timely, but only with respect to nominees for any new positions created
by such increase, if the notice is delivered to the Secretary at the principal executive offices of the Trust not later than the
close of business on the 10th day immediately following the day on which such public announcement is first made by the Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Special Meetings of Shareholders. Only such business shall be conducted at a special meeting
of Shareholders as shall have been brought before the meeting pursuant to the Trust&#8217;s notice of meeting. Nominations of persons
for election to the Trustees may be made at a special meeting of Shareholders at which trustees are to be elected (i)&nbsp;pursuant
to the Trust&#8217;s notice of meeting (or any supplement thereto), (ii)&nbsp;by or at the direction of the Trustees or any committee
thereof or (iii)&nbsp;provided that the Trustees have determined that trustees shall be elected at such special meeting, by any
Shareholder of the Trust who is a Shareholder of record both at the time the notice provided for in this Section&nbsp;3.8(b) is
delivered to the Secretary and at the time of the special meeting, who is entitled to vote at the meeting and who complied with
the notice procedures set forth in this Section&nbsp;3.8(b)<B>.</B> In the event the Trust calls a special meeting of Shareholders
for the purpose of electing one or more Trustees, any such Shareholder may nominate a person or persons (as the case may be) for
election to such position as specified in the Trust&#8217;s notice of meeting, if the Shareholder&#8217;s notice containing the
information required by paragraph&nbsp;(a)(2) of this Section&nbsp;3.8 shall have been delivered to the Secretary at the principal
offices of the Trust not earlier than the close of business on the 120th day prior to such special meeting and not later than the
close of business on the later of the 90th day prior to such special meeting or the 10th day following the day on which public
announcement is first made of the date of the special meeting and the nominees proposed by the Trustees to be elected at such meeting.
In no event shall the public announcement of a postponement or adjournment of a special meeting to a later date or time commence
a new time period for the giving of a Shareholder&#8217;s notice as described above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt">General.
Only such persons who are nominated in accordance with the procedures and requirements set forth in this Section 3.8 shall be
eligible to serve as trustee, and only such business shall be conducted at a meeting of Shareholders as shall have been
brought before the meeting in accordance with the procedures and requirements set forth in this Section 3.8. The chairman of
the meeting shall have the power and duty to determine whether a nomination or any other business proposed to be brought
before the meeting was made or proposed, as the case may be, in accordance with the procedures and requirements set forth in
this Section 3.8 and, if any proposed nomination or other business is not in compliance with this Section 3.8, to declare
that such nomination or proposal shall be disregarded. Without limiting the </FONT>generality of the foregoing or any other
requirements herein, (i) a Shareholder shall be disqualified from bringing any business proposed to be brought before a
meeting if all of the information in such Shareholder&#8217;s notice, or provided in connection therewith, is not correct and
complete or if such Shareholder does not comply fully with the representations in such notice and (ii) if the Shareholder (or
a qualified representative of such Shareholder) does not appear at the annual or special meeting of Shareholders of the Trust
to present a nomination or proposed business, such nomination shall be disregarded and such proposed business shall not be
transacted, notwithstanding that proxies in respect of such vote may have been received by the Trust. For purposes of this
Section 3.8, to be considered a qualified representative of a Shareholder, a person must be a duly authorized officer,
manager or partner of such Shareholder or must be authorized by a writing executed by such Shareholder or an electronic
transmission delivered by such Shareholder to act for such Shareholder as proxy at the meeting of Shareholders and such
person must produce such writing or electronic transmission, or a reliable reproduction of the writing or electronic
transmission, at the meeting of Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">For purposes
of this Section&nbsp;3.8 (a)&nbsp;the &#8220;date of mailing of the notice&#8221; shall mean the date of the proxy statement for
the solicitation of proxies for election of trustees and (b)&nbsp;&#8220;public announcement&#8221; shall mean disclosure (i)&nbsp;in
a press release either transmitted to the principal securities exchange on which Shares of the Trust&#8217;s common stock are traded
or reported by a recognized news service or (ii)&nbsp;in a document publicly filed by the Trust with the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Compliance with State and Federal Law. Notwithstanding the foregoing provisions of this Section&nbsp;3.8,
a Shareholder shall also comply with all applicable requirements of state law and of the Exchange Act and the rules and regulations
thereunder with respect to the matters set forth in this Section&nbsp;3.8. Nothing in this Section&nbsp;3.8 shall be deemed to
affect any right of a Shareholder to request inclusion of a proposal in, nor the right of the Trust to omit a proposal from, the
Trust&#8217;s proxy statement pursuant to Rule 14a-8 (or any successor provision) under the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Abstentions and Broker Non-Votes.</B> Outstanding Shares represented in person or by proxy (including Shares which abstain
or do not vote with respect to one or more of any proposals presented for Shareholder approval) will be counted for purposes of
determining whether a quorum is present at a meeting. Abstentions will be treated as Shares that are present and entitled to vote
for purposes of determining the number of Shares that are present and entitled to vote with respect to any particular proposal,
but will not be counted as a vote in favor of such proposal. If a broker or nominee holding Shares in &#8220;street name&#8221;
indicates on the proxy that it does not have discretionary authority to vote as to a particular proposal, those Shares will not
be considered as present and entitled to vote with respect to such proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Action without Meeting. </B> Any action which may be taken by Shareholders may be taken without a meeting if a majority
of Outstanding Shares entitled to vote on the matter (or such larger proportion thereof as shall be required by law) consent to
the action in writing and the written consents are filed with the records of the meetings of Shareholders. Such consents shall
be treated for all purposes as a vote taken at a meeting of Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">3.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B>Virtual
Meetings.</B> Notwithstanding any other provision of these By-laws, pursuant to Section 3806(b)(5) and (f) of the Delaware
Statutory Trust Act, the Board of Trustees shall have the power and authority to determine that any annual or special meeting
of Shareholders be held solely by means of conference telephone or other communications equipment, in lieu of being held at
any designated place, and participation in such a meeting shall constitute presence in person at the meeting. Any such
meeting shall be subject to such guidelines and procedures as the Board of Trustees may adopt and the notice for any such
meeting need not designate a &#8220;place&#8221; of the meeting if it is to be held solely by means of conference telephone
or other communications equipment. <FONT STYLE="font-size: 10pt">The Trustees may, in their sole discretion, notify
Shareholders of any postponement, adjournment or a change of the place of a meeting of Shareholders (including a change to
hold the meeting solely by means of remote communication) by a document publicly filed by the Trust with the Securities and
Exchange Commission (&#8220;SEC&#8221;) without the requirement of any further notice hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
4</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">T<FONT STYLE="text-transform: none">rustees</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Chairman
of the Trustees. </B>The Trustees shall appoint one of their number to be Chairman of the Trustees (&#8220;Chairman&#8221;). Unless
otherwise determined by the Trustees, the Chairman shall preside at all meetings of the Trustees and shareholders and shall have
such other duties as may be assigned to the Chairman by the Trustees from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Lead
Independent Trustee.</B> If the Chairman is an &#8220;interested person&#8221; of the Trust, as defined in the Investment Company
Act of 1940 (the &#8220;1940 Act&#8221;), the Trustees who are not such interested persons of the Trust (&#8220;Independent Trustees&#8221;)
shall appoint one of their number to be Lead Independent Trustee, who shall have such duties as may be assigned by the Independent
Trustees from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Meetings
of the Trustees.</B> The Trustees may in their discretion provide for regular or stated meetings of the Trustees. Notice of regular
or stated meetings need not be given. Meetings of the Trustees other than regular or stated meetings shall be held whenever called
by the Chairman, the Lead Independent Trustee or by two or more other Trustees, at the time then in office. Notice of the time
and place of each meeting other than regular or stated meetings shall be given by the Secretary or an Assistant Secretary or by
the officer or Trustee calling the meeting and shall be mailed, postage prepaid, to each Trustee at least three days before the
meeting, or shall be given by telephone, cable, wireless, facsimile or other electronic mechanism by which receipt thereof can
be confirmed to each Trustee at his or her business address, or personally delivered to him or her at least one day before the
meeting. Such notice may, however, be waived by any Trustee. Notice of a meeting need not be given to any Trustee if a written
waiver of notice, executed by him or her before or after the meeting, is filed with the records of the meeting, or to any Trustee
who attends the meeting without protesting prior thereto or at its commencement the lack of notice to him or her. A notice or waiver
of notice need not specify the purpose of any meeting. The Trustees may meet by means of a telephone conference circuit or similar
communications equipment by means of which all persons participating in the meeting can hear each other at the same time and participation
by such means shall be deemed to have been held at a place designated by the Trustees at the meeting. Participation in a telephone
conference meeting shall constitute presence in person at such meeting. Notwithstanding the foregoing, all actions of the Trustees
shall be taken in compliance with the provisions of the 1940 Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Quorum
and Manner of Acting. </B> A majority of the Trustees then in office shall be present in person at any regular or special meeting
of the Trustees in order to constitute a quorum for the transaction of business at such meeting and (except as otherwise required
by law, the Declaration of Trust or these By-Laws) the act of a majority of the Trustees present at any such meeting, at which
a quorum is present, shall be the act of the Trustees. In the absence of a quorum, a majority of the Trustees present may adjourn
the meeting from time to time until a quorum shall be present. Notice of an adjourned meeting need not be given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Action
by Consent</B>. Any action required or permitted to be taken at any meeting of the Trustees may be taken by the Trustees
without a meeting if a majority of the Trustees then in office (or such higher number of Trustees as would be required to act
on the matter under the Declaration of Trust, these By-Laws or applicable law if a meeting were held) consent to the action
in writing and the written consents are filed with the records of the Trustees&#8217; meetings. Such consents shall be
treated as a vote for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Trustee
Qualifications. </B> Except to the extent that such requirements are waived by a majority of the Continuing Trustees then in office
at the time of the nomination of such Trustee, only persons satisfying the following qualification requirements may be nominated,
elected, appointed, qualified or seated (&#8220;nominated or seated&#8221;) to serve as Trustees:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(A) An individual nominated or
seated as a Trustee shall be at least twenty-one years of age and not older than the mandatory retirement age determined from time
to time by the Trustees or a committee of the Trustees, in each case at the time the individual is nominated or seated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(B) An individual nominated or
seated as a Trustee shall, at the time the individual is nominated or seated, serve as a trustee or director of no more than 5
investment companies (including the Trust) having securities registered under the Exchange Act (investment companies or individual
series thereof having the same investment adviser or investment advisers affiliated through a control relationship shall all be
counted as a single company for this purpose).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(C) An individual nominated or
seated as a Trustee shall not serve or have served within the past 3 years as a trustee of any closed-end investment company which,
while such individual was serving as a trustee or within one year after the end of such service, ceased to be a closed-end investment
company registered under the 1940 Act, unless such individual was initially nominated for election as a trustee by the board of
trustees of such closed-end investment company or had served as a trustee since the inception of such closed-end investment company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(D) Except as set forth in this
Section 4.6, an individual nominated or seated as a Trustee shall not be an employee, officer, partner, member, trustee, director
or 5% or greater shareholder in any investment adviser (other than the Trust&#8217;s investment adviser or any investment adviser
affiliated with the Trust&#8217;s investment adviser), collective investment vehicle primarily engaged in the business of investing
in &#8220;investment securities&#8221; (as defined in the 1940 Act) (an &#8220;investment company&#8221;) or entity controlling
or controlled by any investment adviser (other than the Trust&#8217;s investment adviser or any investment adviser affiliated with
the Trust&#8217;s investment adviser) or investment company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(E) An individual nominated
or seated as a Trustee shall not be and shall not have been subject to any censure, order, consent decree (including consent
decrees in which the respondent has neither admitted nor denied the findings) or adverse final action of any federal, state
or foreign governmental or regulatory authority (including self-regulatory organizations), barring or suspending such
individual from participation in or association with any investment-related business or restricting such individual&#8217;s
activities with respect to any investment-related business, nor shall an individual nominated or seated as a Trustee be the
subject of any investigation or proceeding that could reasonably be expected to result in an individual nominated or seated
as a Trustee failing to satisfy the requirements of this paragraph, nor shall any individual nominated or seated as a Trustee
be or have engaged in any conduct that has resulted in, or could have reasonably been expected or would reasonably be
expected to result in, the SEC censuring, placing limitations on the activities, functions, or operations of, suspending, or
revoking the registration of any investment adviser under Section 203(e) or (f) of the Investment Advisers Act of 1940, as
amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(F) An individual nominated or
seated as a Trustee shall not have been charged (unless such charges were dismissed or the individual was otherwise exonerated)
with a criminal offense involving moral turpitude, dishonesty or breach of trust, or have been convicted or have pled guilty or
nolo contendere with respect to a felony under the laws of the United States or any state thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(G) An individual nominated or
seated as a Trustee shall not be and shall not have been the subject of any of the ineligibility provisions contained in Section
9(b) of the 1940 Act that would permit, or could reasonably have been expected or would reasonably be expected to permit, the SEC
by order to prohibit, conditionally or unconditionally, either permanently or for a period of time, such individual from serving
or acting as an employee, officer, trustee, director, member of an advisory board, investment adviser or depositor of, or principal
underwriter for, a registered investment company or affiliated person (as defined in Section 2(a)(3) of the 1940 Act) of such investment
adviser, depositor, or principal underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Liability
of Chairman and Lead Independent Trustee. </B> A Trustee serving as Chairman or Lead Independent Trustee shall not be subject to
any greater liability, nor subject to any higher standard or duty, than that to which he or she would be subject if not serving
as such.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Election
of Trustees</B>. Pursuant to Section 2 of Article 7 of the Declaration of the Trust, the affirmative vote of a majority of the
Shares outstanding and entitled to vote shall elect a Trustee; provided, that if the Declaration of Trust or applicable law requires
that a Trustee be elected by individual Series or Classes, then the affirmative vote of a majority of the Shares outstanding and
entitled to vote of that Series or Class shall elect a Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
5</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">C<FONT STYLE="text-transform: none">ommittees</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">5.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B>Executive
and Other Committees.</B> The Trustees by vote of a majority of all the Trustees may elect from their own number an Executive
Committee to consist of not less than two members to hold office at the pleasure of the Trustees, which shall have the power
to conduct the current and ordinary business of the Trust while the Trustees are not in session, including the purchase and
sale of securities and the designation of securities to be delivered upon redemption of Shares of the Trust or a Series
thereof, and such other powers of the Trustees as the Trustees may delegate to them, from time to time, except those powers
which by law, the Declaration of Trust or these By-Laws they are prohibited from delegating. The Trustees may also elect from
their own number other committees from time to time; the number composing such committees, the powers conferred upon the same
(subject to the same limitations as with respect to the Executive Committee) and the term of membership on such committees to
be determined by the Trustees. The Trustees may designate a Chairman of any such committee. In the absence of such
designation the committee may elect its own Chairman. In the absence or disqualification of a member of any committee, the
member or members thereof present at any meeting and not disqualified from voting, whether or not he, she or they constitute
a quorum, may unanimously appoint another Trustee to act at the meeting in place of any such absent or disqualified member of
such committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">5.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Quorum and Manner of Acting.</B> A majority of the members of any committee of the Trustees shall constitute a quorum
for the transaction of business, and any action of such a committee may be taken at a meeting by a majority of the members present
(a quorum being present) or evidenced by one or more writings signed by a majority of the members of such Committee. Members of
a committee may participate in a meeting of such committee by means of a conference telephone or other communications equipment
by means of which all persons participating in the meeting can hear each other at the same time and participation by such means
shall constitute presence in person at a meeting. Each committee designated by the Trustees may make, alter and repeal rules for
the conduct of its business. In the absence of such rules each committee shall conduct its business in the same manner as the Trustees
conduct their business pursuant to Article 4 of these By-Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">5.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Liability of Committee Chairman.</B> A Trustee serving as a Chairman of any committee of the Trustees shall not be subject
to any greater liability, nor subject to any higher standard or duty, than that to which he or she would be subject if not serving
as Chairman of the committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
6</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">Officers</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>General Provisions.</B> The officers of the Trust shall be a President, a Treasurer and a Secretary, who shall be elected
by the Trustees. The Trustees may elect such other officers or agents as the business of the Trust may require, including one or
more Vice Presidents, one or more Assistant Secretaries, and one or more Assistant Treasurers. The Trustees may delegate to any
officer or committee the power to appoint any subordinate officers or agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Election. </B> The President, the Vice Presidents (if any), the Treasurer and the Secretary shall be elected annually
by the Trustees. Other officers, if any, may be elected by the Trustees at such meeting or at any other time. Vacancies in any
office may be filled at any time by the Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Tenure.</B> Subject to Section 6.4, each officer shall hold office and each agent shall retain authority at the pleasure
of the Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Removal.</B> The Trustees, at any regular or special meeting of the Trustees, may remove any officer with or without
cause, by a vote of a majority of the Trustees then in office. Any officer or agent appointed by an officer or committee may be
removed with or without cause by such appointing officer or committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>President.</B> Unless the Trustees otherwise provide, the President shall be the chief executive officer of the Trust
and, subject to the direction of the Trustees, shall have general charge of the business affairs and property of the Trust and
general supervision over its officers, employees and agents. Except as the Trustees may otherwise order, the President shall have
the power to grant, issue, execute or sign such powers of attorney, proxies, agreements, certifications or other documents as he
or she may deem advisable or necessary in the furtherance of the interests of the Trust or any Series or Class thereof. The President
also shall have the power to employ attorneys, accountants and other advisers and agents for the Trust. The President shall exercise
such other powers and perform such other duties as the Trustees may from time to time assign to the President.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <B>Vice Presidents.</B> The Vice Presidents shall, in the absence or disability of the President, and in the order designated
by the Trustees, perform the duties and exercise the powers of the President and, in addition, shall at all time perform such other
duties and exercise such other powers as may be prescribed by the Trustees or the President, to whose supervision they shall be
subject. Any Vice President of the Trust may be designated the chief financial officer of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Chief Financial Officer.</B> The Chief Financial Officer of the Trust shall have general charge of the finances of the
Trust. The Chief Financial Officer shall make annual reports regarding the business and financial condition of the Trust as soon
as possible after the close of the Trust&#8217;s fiscal year and shall furnish such other reports concerning the business and financial
condition of the Trust as the Trustees may from time to time require. The Chief Financial Officer shall perform all acts incidental
to the office of Chief Financial Officer, subject to the supervision of the Trustees, and shall perform such additional duties
as the Trustees or the Chairman may from time to time designate. The Chief Financial Officer shall be responsible to and shall
report to the Trustees. In the absence of the Chief Financial Officer, the Treasurer may perform all duties of the Chief Financial
Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Treasurer. </B> The Treasurer shall, subject to the provisions of the Declaration of Trust and to any arrangement made
by the Trustees with any custodian, investment adviser, or transfer, accounting or Shareholder servicing or similar agent, be the
chief accounting officer and be in charge of the valuable papers, books of account and accounting records of the Trust and shall
have such other duties and powers as may be designated from time to time by the Trustees or by the President. The Treasurer may
be designated the chief financial officer of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Secretary.</B> The Secretary shall, if and to the extent requested by the Trustees and/or shareholders, attend all meetings
of the Trustees, any committee of the Trustees and the Shareholders and record all the proceedings of such meetings in a book to
be kept for that purpose. In accordance with Section 3.4 hereof, he or she shall give, or cause to be given, notice of all meetings
of the Trustees and meetings of the Shareholders, and shall perform such other duties as may be prescribed by the Trustees or President,
to whose supervision he or she shall be subject. The Secretary shall keep in safe custody the seal of the Trust and, when authorized
by the Trustee, affix the same to any instrument requiring it, which seal when so affixed may be attested by his or her signature
or by the signature of the Treasurer or an Assistant Secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Assistant Treasurers.</B> In the absence or disability of the Treasurer, any Assistant Treasurer designated by the Trustees
shall perform all the duties, and may exercise any of the powers, of the Treasurer. Each Assistant Treasurer shall perform such
other duties as from time to time may be assigned to such Assistant Treasurer by the Trustees. Each Assistant Treasurer performing
the duties and exercising the powers of the Treasurer, if any, shall give a bond for the faithful discharge of his or her duties,
if required so to do by the Trustees, in such sum and with such surety or sureties as the Trustees shall require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Assistant Secretaries.</B> In the absence or disability of the Secretary, any Assistant Secretary designated by the Trustees
shall perform all the duties, and may exercise any of the powers, of the Secretary. Each Assistant Secretary shall perform such
other duties as from time to time may be assigned to such officer by the Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.12<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Compensation of Officers and Trustees and Members of the Advisory Board.</B> Subject to any applicable provisions of
the Declaration of Trust, the compensation of the officers and Trustees and members of any advisory board shall be fixed from time
to time by the Trustees or, in the case of officers, by any committee or officer upon whom such power may be conferred by the Trustees.
No officer shall be prevented from receiving such compensation as such officer by reason of the fact that the officer is also a
Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">6.13<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <B>Power to Vote Securities. </B>Unless otherwise ordered by the Trustees, the Chief Financial Officer and/or the Treasurer
shall have full power and authority on behalf of the Trust to give proxies for, and/or to attend and to act and to vote at, any
meeting of stockholders of any corporation in which the Trust may hold stock, and at any such meeting the Treasurer or his or her
proxy shall possess and may exercise any and all rights and powers incident to the ownership of such stock which, as the owner
thereof, the Trust might have possessed and exercised if present. The Trustees, by resolution from time to time, or, in the absence
thereof, the Treasurer, may confer like powers upon any other person or persons as attorneys and proxies of the Trust<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
7</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">Fiscal Year</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The fiscal year of the Trust shall end on such date as the Trustees
shall from time to time determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
8</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">Seal</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustees may, but shall not be required to, adopt a seal
which shall be in such form and shall have such inscription thereon as the Trustees may from time to time prescribe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
9</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none">Sufficiency and Waivers of Notice</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Whenever any notice whatever is required to be given by law,
the Declaration of Trust or these By-Laws, a waiver thereof in writing, signed by the person or persons entitled to said notice,
whether before or after the time stated therein, shall be deemed equivalent thereto. A notice shall be deemed to have been sent
by mail, telegraph or cable when it has been delivered to a representative of any company holding itself out as capable of sending
notice by such means with instructions that it be so sent, or at the time of confirmation if sent by wireless, facsimile or other
electronic means, and notice by a document publicly filed with the SEC shall be deemed given at the time the Trust files such document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
10</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">C<FONT STYLE="text-transform: none">ertificates</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If so determined by resolution of the Board of Trustees, each
Shareholder of the Trust shall be entitled upon request to have a certificate or certificates, in such form as shall be approved
by the Board of Trustees, representing the number of Shares of the Trust owned by the Shareholder, provided, however, that certificates
for fractional shares will not be delivered in any case. Certificates representing Shares shall be signed by or in the name of
the Trust by any two authorized officers of the Trust (it being understood that each of the President or a Vice President, the
Chairman, the Secretary or an Assistant Secretary, or the Treasurer or an Assistant Treasurer, shall be an authorized officer for
such purpose). Any or all of the signatures may be a facsimile. In case any officer, transfer agent or registrar who has signed
or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent or registrar
before such certificate shall be issued, it may be issued by the Trust with the same effect as if such officer, transfer agent
or registrar were still in the office at the date of issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
11</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">A<FONT STYLE="font-size: 10pt; text-transform: none">mendment</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">These By-Laws, or any of them, may be altered, amended or repealed,
or new By-Laws may be adopted by the Trustees, provided, however, that no By-law may be amended, adopted or repealed by the Trustees
if such amendment, adoption or repeal requires, pursuant to law, the Declaration of Trust or these By-Laws, a vote of the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE 12</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Forum for Adjudication of Disputes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless the Trust consents in writing to the selection of an
alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Trust, (ii)
any action asserting a claim of breach of a fiduciary duty owed by any Trustee, officer or other employee of the Trust to the Trust
or the Trust&#8217;s Shareholders, (iii) any action asserting a claim arising pursuant to any provision of the Delaware Statutory
Trust Act or the Declaration of Trust or these By-Laws, (iv) any action to interpret, apply, enforce or determine the validity
of the Declaration of Trust or these By-Laws or (v) any action asserting a claim governed by the internal affairs doctrine shall
be the Court of Chancery of the State of Delaware, or, if the Court of Chancery of the State of Delaware does not have jurisdiction,
the Superior Court of the State of Delaware (each, a &#8220;Covered Action&#8221;). Any person purchasing or otherwise acquiring
or holding any interest in shares of beneficial interest of the Trust shall be (i) deemed to have notice of and consented to the
provisions of this Article 12, and (ii) deemed to have waived any argument relating to the inconvenience of the forums referenced
above in connection with any action or proceeding described in this Article 12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any Covered Action is filed in a court
other than the Court of Chancery of the State of Delaware or the Superior Court of the State of Delaware (a &#8220;Foreign Action&#8221;)
in the name of any Shareholder, such Shareholder shall be deemed to have consented to (i) the personal jurisdiction of the Court
of Chancery of the State of Delaware and the Superior Court of the State of Delaware in connection with any action brought in any
such courts to enforce the first paragraph of this Article 12 (an &#8220;Enforcement Action&#8221;) and (ii) having service of
process made upon such Shareholder in any such Enforcement Action by service upon such Shareholder&#8217;s counsel in the Foreign
Action as agent for such Shareholder. Furthermore, except to the extent prohibited by any provision of the Delaware Statutory Trust
Act or the Declaration of Trust, if any Shareholder shall initiate or assert a Foreign Action without the written consent of the
Trust, then each such Shareholder shall be obligated jointly and severally to reimburse the Trust and any officer or Trustee of
the Trust made a party to such proceeding for all fees, costs and expenses of every kind and description (including, but not limited
to, all reasonable attorneys&#8217; fees and other litigation expenses) that the parties may incur in connection with any successful
motion to dismiss, stay or transfer such Foreign Action based upon non-compliance with this Article 12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any provision or provisions of this Article
12 shall be held to be invalid, illegal or unenforceable as applied to any person or circumstance for any reason whatsoever, then,
to the fullest extent permitted by law, the validity, legality and enforceability of such provision(s) in any other circumstance
and of the remaining provisions of this Article 12 (including, without limitation, each portion of any sentence of this Article
12 containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or
unenforceable) and the application of such provision to other persons and circumstances shall not in any way be affected or impaired
thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">END OF BY-LAWS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 15; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.N
<SEQUENCE>4
<FILENAME>tm215399d1_ex99-n.htm
<DESCRIPTION>EXHIBIT N
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.n</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the incorporation by reference in this Post-Effective
Amendment to Registration Statement No.&nbsp;333-229042 on Form&nbsp;N-2 of our report dated December&nbsp;18, 2020, relating to
the financial statements and financial highlights of Calamos Convertible Opportunities and Income Fund appearing in the Annual
Report on Form&nbsp;N-CSR of Calamos Convertible Opportunities and Income Fund for the year ended October&nbsp;31, 2020, and to
the references to us under the headings &ldquo;Financial Highlights&rdquo; and &ldquo;Experts&rdquo; in the Prospectus and &ldquo;Independent
Registered Public Accounting Firm&rdquo; and &ldquo;Financial Statements&rdquo; in the Statement of Additional Information, which
are part of such Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ DELOITTE&nbsp;&amp; TOUCHE LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chicago,&nbsp;Illinois<BR>
February&nbsp;19, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.R1
<SEQUENCE>5
<FILENAME>tm215399d1_ex99-r1.htm
<DESCRIPTION>EXHIBIT R1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.r.1</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; color: Red"><IMG SRC="tm215399d1_ex99-r1img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Table of Contents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%"></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><U>Page</U></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%"><B>UNDERSTANDING AND APPLYING THE CODE</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>3</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">1. Understanding the Terms</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">3</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">2. Purpose of the Code of Ethics and Insider Trading Policy</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">8</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">3. Scope</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">8</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">4. Reporting Violations of the Code</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">9</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%"><B>CONSEQUENCES OF FAILURE TO COMPLY WITH THE CODE</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>9</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90%"><B>RESTRICTIONS ON THE USE AND DISCLOSURE OF CONFIDENTIAL INFORMATION BY CALAMOS PERSONNEL</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>9</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">1. Insider Trading and Tipping</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">9</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">2. General Prohibitions</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">10</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">3. Material Nonpublic Information about Other Companies</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">10</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">4. Information about Calamos Sponsored Exchange Traded Funds (&ldquo;ETFs&rdquo;) </TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">11</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">5. Public Disclosure of Information about Calamos, its Closed-End Funds and Calamos Sponsored ETF</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">11</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">6. Permitted Disclosures to Governmental Agencies and Entities and Self-Regulatory Organizations</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">12</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%"><B>REPORTING REQUIREMENTS</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>12 </B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">1. Initial Disclosure of Accounts and Covered Securities</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">13</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">2. Confirmations and Statements for all Brokerage and Investment Accounts</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">13</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%"><FONT STYLE="font-size: 10pt">3. Quarterly</FONT> Transactions <FONT STYLE="font-size: 10pt">Reports (Quarterly Account Statements)</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">4. Annual Holdings Reports</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">14</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%"><FONT STYLE="vertical-align: baseline">5. Certification of Compliance</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><FONT STYLE="vertical-align: baseline">14</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif">6. Report to Fund Board</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">15</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>THE PURCHASE AND SALE OF SECURITIES BY CALAMOS PERSONNEL</B></FONT></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>15</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">1. Pre-Clearance of Covered Securities Transactions</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">15</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">2. Holding Period Requirement</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">16</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 90%">3. Trading Restrictions</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">17</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif">4. </FONT>Trading Calamos Closed-End and Calamos Sponsored ETFs</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">18</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">5. Private Securities Transactions</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">19</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif">6. Additional </FONT>Exceptions and Exemptions to Trading Policies, Procedures
and Restrictions</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">19</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt; text-align: left; text-indent: -31.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 90%"><B>TRADING POLICIES AND PROCEDURES FOR OUTSIDE TRUSTEES, UNAFFILIATED TRUSTEES, OUTSIDE DIRECTORS AND THEIR RELATED PERSONS</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>21</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">1. No Transactions with Clients</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">21</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">2. No Conflicting Transactions</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">21</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">3. Section 16 Reporting and Prohibitions</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">22</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><B>OTHER REGULATORY REQUIREMENTS</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>22</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B></B></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">1. Outside Employment or Outside Business Activity</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">23</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif">2. Service </FONT>as a Director or Officer</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">23</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">3. Gifts and Entertainment</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">23</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">4. Political Contributions </TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">24</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%">5. Identifying and Reporting Conflicts of Interest and Other Ethical Concerns</TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%">25</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><B>RECORD RETENTION</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>26</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><B>APPENDIX A: IN-SCOPE ENTITIES</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>27</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 90%"><B>APPENDIX B: SECTION 16 INDIVIDUALS </B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>28</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 90%"><B>APPENDIX C: FIRMS WITH ELECTRONIC FEEDS TO FIRM&rsquo;S COMPLIANCE MONITORING
    SYSTEM</B></TD>
    <TD STYLE="text-align: center; padding-left: 10pt; width: 10%"><B>29</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>UNDERSTANDING AND APPLYING THE CODE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Understanding the Terms</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized terms used in this Code have
special meanings defined below. It is important for you to read and become familiar with each definition used in the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Access Person&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Access Persons means any director, officer,
employee of Calamos or an investment company managed by Calamos with the exception of Outside Trustees, Unaffiliated Trustees
or Outside Directors <FONT STYLE="text-underline-style: double">or as otherwise provided under this Code</FONT>. Access Persons
includes consultants and agents to Calamos who have access to Material Nonpublic Information. <B>All</B> employees of Calamos
and investment companies managed by Calamos are also Access Persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Automatic Investment Plan&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Automatic Investment Plan means a program
in which regular periodic purchases (or withdrawals) are made automatically in (or from) investment accounts in accordance with
a predetermined schedule and allocation. An Automatic Investment Plan includes a dividend reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Beneficial Ownership Interest&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beneficial Ownership Interest shall be
interpreted in the same manner as it would be under Rule 16a-1(a)(2) under the Securities Exchange Act of 1934 in determining whether
a person is a beneficial owner of a security for the purposes of Section 16 of the Securities Exchange Act of 1934 and Section
30(h) of the Investment Company Act of 1940 (&ldquo;the 1940 Act&rdquo;) and the rules and regulations thereunder. As a general
matter, you have Beneficial Ownership Interest in a Covered Security, defined below, if you have or share a direct or indirect
Pecuniary Interest (as defined below) in the security, including through any contract, arrangement, understanding, relationship
or otherwise. Although this list is not exhaustive, you generally would be the beneficial owner of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&#9;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities held in your own name;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities held with another in joint
tenancy, as tenants in common, or in other joint ownership arrangements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities held by a bank or broker as
a nominee or custodian on your behalf or pledged as collateral for a loan; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities owned by a corporation which
is directly or indirectly Controlled by, or under common Control with, you.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(See also the definitions of Immediate
Family and Related Persons)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Broad-based Security&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><BR>
A Broad-based Security generally refers to any security index that would not be classified as a narrow-based security index under
the definitions or exclusions set forth in the Commodity Exchange Act and the Securities Exchange Act of 1934 or that meets certain
criteria specified jointly by the U.S. Commodities Futures Trading Commission and the U.S. Securities and Exchange Commission.
Examples include but are not limited to; the S&amp;P 500, NASDAQ-100<FONT STYLE="color: #3b5a6f">, </FONT>Wilshire 5000, Russell
3000, AMEX Major Market and the Value Line Composite indices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Control&rdquo; </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Control means the power to exercise a controlling
influence, which is intended to include situations where there is less than absolute and complete domination and includes not only
the active exercise of power, but also the latent existence of power (e.g., the ability to exercise power). Anyone who beneficially
owns, either directly or through one or more controlled entities, more than 25% of the voting securities of an entity is presumed
to control that entity. In interpreting &ldquo;Control,&rdquo; the CCO will interpret the term consistent with Section 2(a)(9)
of the 1940 Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Corporate Account&rdquo; </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Corporate Account means any account maintained
by any Calamos entity for the investment in Covered Securities, including Calamos-sponsored registered investment companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Covered Security&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Covered Security means any stock, bond,
future, investment contract, shares of closed-end funds, shares of open-end mutual funds for which Calamos is the adviser or subadviser,
exchange traded funds, or any other instrument that is considered a &ldquo;security&rdquo; under the 1940 Act. The term &ldquo;Covered
Security&rdquo; is very broad and includes items you might not ordinarily think of as &ldquo;securities,&rdquo; such as: options
on securities, indexes, and currencies; limited partnership interests; interests in a foreign unit trust or foreign mutual fund;
municipal securities; interests in a private investment fund, hedge fund, or investment club; or any right to acquire any security
such as a warrant or convertible. In addition, purchase and sale transactions of Covered Securities in any 401(k) plan (excluding
the Calamos 401k plan and excluding percentage allocation changes or payroll deduction percentages) are considered transactions
in Covered Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The term Covered Security does not include
direct obligations of the U.S. government (U.S. treasury bills, notes and bonds), money market instruments (including bank certificates
of deposit, bankers&rsquo; acceptances, commercial paper and repurchase agreements), shares of open-end mutual funds not advised
or subadvised by Calamos or units in 529 College Savings Plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Fund&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fund means an investment company, or series
of investment companies, managed by Calamos.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Immediate Family&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Immediate Family means family members sharing
the same household, which could include any child, stepchild, grandchild, parent, stepparent, grandparent, spouse or equivalent
domestic partner, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, and includes
adoptive relationships. (See also the definition of Beneficial Ownership Interest and Related Persons).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Investment Person&rdquo; </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investment Person means each person who
makes, or participates in making, investment decisions or recommendations for Calamos clients, or who, in connection with his or
her regular functions or duties with Calamos, makes, participates in, or obtains information regarding the purchase or sale of
securities by a client. Investment Person includes each Calamos portfolio manager, each research analyst, each support staff member
working directly with portfolio managers and analysts, and each trader. This definition also includes outside consultants, contractors
or agents hired by Calamos to perform investment related activities; as well as IT or systems&rsquo; consultants who have access
to trading or investment systems.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Material Information&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Information should be regarded as material
if it could be important to decisions to buy, sell or hold a company&rsquo;s securities. Any information that could reasonably
be expected to affect the price of company securities should be considered material. Material information can be positive or negative,
and can relate to historical facts, projections, or future events. Material information can pertain to a company as a whole, or
to divisions or subsidiaries of a company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the course of their employment,
Calamos personnel might learn material information about many companies. Information dealing with the following subjects is likely
to be found material in particular situations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Financial Related Subjects:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial results</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Changes in earnings forecasts</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unusual significant gains, losses or charges</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant write-downs in assets</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant changes in revenues</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant liquidity issues</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Changes in dividends</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stock splits</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stock repurchases</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Changes in debt ratings</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant
new equity or debt offerings</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Corporate Developments:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proposals, plans or agreements, even if
preliminary in nature, involving </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 45pt">significant mergers,
acquisitions, divestitures, recapitalizations, or strategic alliances</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Major changes in directors or executive
officers</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Product Related Subjects:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Important new product offerings</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant developments related to a
company&rsquo;s product offerings</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant developments related to a
company&rsquo;s distribution relationships</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant developments related to intellectual
property</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Other Subjects:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.5pt"></TD><TD STYLE="width: 22.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Developments regarding significant litigation</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.5pt"></TD><TD STYLE="width: 22.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Developments regarding government agency
actions</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 13.5pt"></TD><TD STYLE="width: 22.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Execution or termination of significant
contracts</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This list is only illustrative, and certainly
is not all-encompassing. Many other types of information may be considered material. <I>When in doubt about whether particular
information about another company is material, exercise caution and consult with the CCO or the General Counsel. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Material Nonpublic Information&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Material Nonpublic Information is information
that is not known to the general public, that, if known to the public, could reasonably be expected to affect the price of a company&rsquo;s
securities, or be considered important in deciding whether to buy, sell or hold a security. It is often referred to as &ldquo;inside
information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An Access Person who receives Material
Nonpublic Information may not act on it nor share it. The information must be kept confidential. The Access Person should inform
the Global Head Trader (or his designess in his absence) of the security so it may be added to the Restricted List until such time
as the information is publicly released.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Nonpublic Information&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Information about a company is considered
nonpublic if it is not available to the general public. In order for information to be considered available to the general public,
it must have been widely disseminated in a manner designed to reach investors. This is generally done by the company issuing a
national press release or making a publicly-available filing with the SEC. The circulation of rumors, even if accurate and reported
in the media, does not constitute effective public dissemination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Outside Directors&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Outside Directors means those directors
of Calamos Asset Management, Inc. (&ldquo;CAM&rdquo;) who are not officers or employees of CAM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Outside Trustees&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Outside Trustees means those trustees of
a fund who are not &ldquo;interested persons&rdquo; of the Fund, as that term is defined in Section 2(a)(19) of the 1940 Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Pecuniary Interest&rdquo; </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pecuniary Interest in a security means
the opportunity, directly or indirectly, to profit or share in any profit or fees derived from a transaction in the security.
An indirect Pecuniary Interest includes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Covered Securities held by a member of
an Access Person&rsquo;s &ldquo;Immediate Family&rdquo;. For example, you would be presumed to have an indirect Pecuniary Interest
in Covered Securities held by your minor child who lives with you but not in Covered Securities held by your adult child who does
not live with you. You may request that a member of your Immediate Family be excluded from the Code&rsquo;s reach by contacting
the CCO and demonstrating why it would be appropriate. For example, it may be appropriate to exclude your adult uncle who lives
with you from the Code&rsquo;s reach.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B></B></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">A general partner&rsquo;s proportionate
interest in the portfolio Covered Securities held by a general or limited partnership.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">A person&rsquo;s right to dividends that
are separated or separable from the Covered Securities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">A beneficiary&rsquo;s pecuniary interest
in Covered Securities holdings of a trust and any pecuniary interest of any Immediate Family member of such beneficiary (such Pecuniary
Interest being to the extent of the person&rsquo;s pro rata interest in the trust).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Remainder interests do not create a pecuniary interest unless the person with such interest has
the power, directly or indirectly, to exercise or share investment Control over the trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">A settlor or grantor of a trust (i.e.,
you establish the trust) if you reserve the right to revoke the trust without the consent of another person, unless you do not
exercise or share investment Control over the Covered Securities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A shareholder will not be deemed to have
a Pecuniary Interest in the portfolio Covered Securities held by a corporation or similar entity in which the person owns Covered
Securities if the shareholder is not a controlling shareholder of the entity and does not have or share investment Control over
the entity&rsquo;s portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Related Person&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Related Person includes your spouse or
equivalent domestic partner, minor children, relative living in your home, and certain trusts under which you or a related party
is a beneficiary or held under other arrangements, including a sharing of financial interest. <B>Calamos personnel are responsible
for ensuring that their Related Persons comply with the personal trading and reporting provisions of the Code.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(See also definitions for Beneficial Ownership
Interest and Immediate Family.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Supervised Person&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Supervised Person means any partner, officer,
director (or other person occupying a similar status or performing similar functions) or employee of Calamos. It may also include
other persons who provide investment advice on behalf of Calamos and are subject to Calamos&rsquo; supervision and control. For
purposes of this Code, all Supervised Persons are considered Access Persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Tipping&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tipping is the disclosure of Material Nonpublic
Information to another person in breach of a fiduciary or other obligation for the purpose of enabling the recipient (the tipee)
to engage in insider trading or other improper activity. Tipping can result in liability for both the tipper and tipee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Unaffiliated Trustees&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unaffiliated Trustees means those Trustees
of a Fund who are not affiliated persons of Calamos but are not Outside Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Purpose of the Code of Ethics and Insider Trading Policy</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial services industry is highly
regulated and is subject to many laws and regulations designed to protect investors. Rule 17j-1 of the 1940 Act, as amended and
Rule 204A-1 of the Investment Advisers Act of 1940, as amended (the &ldquo;Advisers Act&rdquo;) require that funds and advisers
adopt a Code of Ethics that set forth standards of conduct and require compliance with federal securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Rule 17j-1 makes it unlawful for investment
company personnel and other &ldquo;Access Persons&rdquo; to engage in fraudulent, deceptive or manipulative practices in connection
with their personal transactions in securities when those securities are held or to be acquired by an investment company. The Rule
also requires every investment company, the investment company&rsquo;s investment adviser, and, in certain cases, the investment
company&rsquo;s principal underwriter to adopt a Code of Ethics containing provisions &ldquo;reasonably necessary to prevent&rdquo;
such prohibited practices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Calamos and its subsidiaries and affiliated companies are primarily
involved in the investment management, registered investment companies, consisting of open-end mutual funds and closed-end funds
(the &ldquo;Funds&rdquo;), and financial services industries. Therefore, the Firm is adopting this Code of Ethics and Insider Trading
Policy (the &ldquo;Code&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Code outlines the fiduciary principles
governing an investment adviser&rsquo;s fiduciary obligations to clients and personal trading by Access Persons of funds and investment
advisers. These principles reflect:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The duty of Access Persons to place the
interests of shareholders and clients ahead of their own interests;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The requirement that Access Persons comply
with applicable Federal Securities Laws and to report any violations of the Code promptly to the Chief Compliance Officer (&ldquo;CCO&rdquo;)
of Calamos;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The requirement that all Access Persons
of a fund or investment adviser engage in personal securities transactions in accordance with the Code and in such a manner as
to avoid any actual or potential conflict of interest or any abuse of an individual&rsquo;s position of trust and responsibility;
and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The fundamental standard that Access Persons
should not take inappropriate advantage of their positions.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Code supplements the Code of Business
Conduct and Ethics and the Calamos Employee Handbook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Scope</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Code applies to all directors, officers,
employees and other Access Persons of Calamos. The Code also applies to any outsiders, including agents and consultants that have
access through Calamos to Material Nonpublic Information. Supervised Persons are considered Access Persons under this Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Questions regarding the Code or its application
to specific transactions should be directed to the CCO or General Counsel of Calamos.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Reporting Violations of the Code</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Access Persons must promptly report any
known or suspected violations of the Code to the CCO or General Counsel of Calamos.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A Supervised Person&rsquo;s reporting obligations
do not prevent him or her from (i) initiating communications directly with, cooperating with, providing relevant information to
or otherwise assisting in an investigation by any governmental or regulatory body regarding a possible violation of any applicable
law, rule, or regulation; (ii) responding to any inquiry from any such governmental or regulatory body; or (iii) testifying, participating
in, or otherwise assisting in an action or proceeding relating to a possible violation of any such law, rule, or regulation. A
Supervised Person is not required to notify Calamos of any such communications, cooperation, assistance, responses to inquiries,
testimony, or participation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CONSEQUENCES OF FAILURE TO COMPLY WITH
THE CODE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Compliance with the provisions of the Code
is a condition of employment of Calamos. Taking into consideration all relevant circumstances, the CCO and management of Calamos
will determine what action is appropriate for any breach of the provisions of the Code. Possible actions include disgorgement of
profits, monetary fines, letters of sanction, suspension of trading privileges, and suspension or termination of employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board of Trustees of any investment
company for which Calamos Advisors LLC (&ldquo;CAL&rdquo;) is the investment adviser will determine what action is appropriate
for any breach of the provisions of the Code by an Outside Trustee or Unaffiliated Trustee, which may include removal from the
Board. The Board of Directors of CAM will determine what action is appropriate for any breach of the provisions of the Code by
an Outside Director, which may include removal from the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>It is the responsibility of each
Access Person to make sure that a transaction in any Covered Security by any Related Person complies with the provisions of the
Code.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>RESTRICTIONS ON THE USE AND DISCLOSURE OF CONFIDENTIAL INFORMATION
BY CALAMOS PERSONNEL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Insider Trading and Tipping </U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Calamos Access Persons may not act on Material
Nonpublic Information. Calamos Access Persons may not share Material Nonpublic Information, except in accordance with the provisions
of the Code section entitled &ldquo;Permitted Disclosures to Governmental Agencies and Entities and Self-Regulatory Organizations.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Legal penalties for trading on or tipping
Material Nonpublic Information are severe. They include criminal fines, civil fines of several times the profits gained or losses
avoided, imprisonment and private party damages. The penalties also may apply to anyone who directly or indirectly controlled the
person who committed the violation, including the employer and its management and supervisory personnel. Significant penalties
have been imposed even when the disclosing person did not profit from the trading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to these possible outside sanctions,
Calamos Access Persons who violate prohibitions on insider trading or tipping will face additional action from Calamos itself,
up to and including termination of employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>General Prohibitions</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Material Nonpublic Information is an important
type of confidential information, but it is only one type of confidential information. Our clients and suppliers entrust Calamos
with important information relating to their personal and business matters. The nature of these relationships requires Calamos&rsquo;
strict confidentiality and trust. In safeguarding the information received, Calamos earns the respect and further trust of our
clients and suppliers. All employees, agents and consultants will be required to sign a Confidentiality Agreement at the time they
are hired and this agreement carries an obligation to maintain strict confidentiality of confidential information, even after an
Access Person&rsquo;s employment is terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any violation of confidentiality seriously
injures Calamos' reputation and effectiveness. Therefore, except as permitted under the Code section entitled &ldquo;Permitted
Disclosures to Governmental Agencies and Entities and Self-Regulatory Organizations,&rdquo; personnel are not to discuss confidential
Calamos business with anyone who does not work for Calamos, and should never discuss business transactions with another Calamos
employee who does not have a direct association with the transaction. Even casual remarks can be misinterpreted and repeated; therefore,
employees should develop the personal discipline necessary to maintain confidentiality. If an employee becomes aware of anyone
breaking this trust, they should report the incident immediately to the CCO or General Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If someone outside Calamos or the employee&rsquo;s
department asks questions regarding confidential matters, you are not required to answer, and you should not answer except as permitted
under the Code section entitled &ldquo;Permitted Disclosures to Governmental Agencies and Entities and Self-Regulatory Organizations.&rdquo;
Instead, you should refer the request to the department supervisor or a member of senior management which includes the Chairman,
CEO, President, General Counsel, Head of Human Resources, Chief Financial Officer and the CCO of Calamos (collectively, &ldquo;Senior
Management&rdquo;). Inquiries to Calamos from Regulators should be immediately referred to the CCO or General Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No one is permitted to remove or make copies
of any Calamos records, reports or documents without prior approval from management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Material Nonpublic Information about Other Companies</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Calamos personnel may become aware of confidential
information concerning another company. This information may be Material Nonpublic Information and, as noted above, trading of
securities, including futures or options of the company, based on this information is a violation of federal securities law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Even after public disclosure of material
information regarding a company, an insider with prior knowledge of the information must wait a period of one full trading day
after the publication for the information to be absorbed before that person can treat the information as public.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of the Code, a full trading
day means from the opening of trading on NASDAQ to the closing of trading on NASDAQ on that day. Accordingly, and by way of example,
if an announcement is made before the commencement of trading on a Tuesday, an employee in possession of such information may trade
in the company securities starting on Wednesday of that week (subject to any applicable blackout period and assuming the employee
is not aware of other Material Nonpublic Information at that time), because one full trading day would have elapsed by then (all
of Tuesday). If the announcement is made on Tuesday after trading has begun on NASDAQ, an employee in possession of the information
may not trade in the company securities until Thursday of that week. If the announcement is made on Friday after trading begins,
an employee may not trade in the company securities until Tuesday of the following week. NASDAQ holidays do not count as trading
days and will impact this schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Information about Calamos Sponsored Exchange Traded Funds (&ldquo;ETFs&rdquo;)</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Calamos has erected a &ldquo;firewall&rdquo;
between CAM and CAL on the one hand, and Calamos Financial Services LLC (&ldquo;CFS&rdquo;), an affiliated limited purpose broker-dealer,
on the other, with respect to access to information regarding the portfolio composition of Calamos Sponsored ETFs, or changes thereto,
for which CAM or CAL is the investment adviser. No partner, officer, director, or other employee or agents and consultants of CAM
or CAL may communicate with or provide information about the portfolio composition of Calamos Sponsored ETFs, or changes thereto,
with any partner, officer, director, or other employee of CFS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Code addresses the use of Material
Nonpublic Information by any director, officer, or partner of CAM or CAL, or any supervised person of CAM or CAL regarding the
portfolio composition of Calamos Sponsored ETFs, or changes thereto. Such director, officer, partner, or Supervised Person who
has Material Nonpublic Information regarding the portfolio composition of any Calamos Sponsored ETF, or changes thereto, is prohibited
from purchasing, selling, or recommending the purchase or sale of that ETF, and from purchasing, selling, or recommending the purchase
or sale of any securities that are a part of the Calamos Sponsored ETF&rsquo;s portfolio. In addition, such director, officer,
partner, or Supervised Person may not disclose (&ldquo;tip&rdquo;) Material Nonpublic Information about the portfolio composition
of a Calamos Sponsored ETF, or any changes thereto, to any persons, including any Related Persons, not authorized by Calamos to
have such information, except as permitted under the Code section entitled &ldquo;Permitted Disclosures to Governmental Agencies
and Entities and Self-Regulatory Organizations.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Public Disclosure of Information about Calamos, its Closed-End Funds and Calamos Sponsored
ETF</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event any director, officer, employee,
agent, or consultant of Calamos receives any inquiry from outside the company, such as from the media, a stock analyst or investors,
for information that may be Nonpublic Information (particularly financial results or projections), the inquiry must be referred
to the Director of Marketing other than where the communications are within the scope of the Code section entitled &ldquo;Permitted
Disclosures to Governmental Agencies and Entities and Self-Regulatory Organizations.&rdquo; Since Calamos&rsquo; closed-end funds
and Calamos Sponsored ETFs are also publicly traded, the same restrictions apply to disclosure of information about those products.
The Head of Marketing is responsible for coordinating and overseeing the release of such information to the media, investing public,
analysts and others in compliance with applicable laws and regulations, including Regulation FD<SUP>1</SUP>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In communicating with the general public,
Calamos will observe the following practices:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Communications to the general public regarding
Calamos should be made only by the Chairman, the Chief Executive Officer, the Chief Financial Officer, or the Head of Marketing.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Calamos will not issue projections of,
or comment on, future investment performance of itself or any of its products</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>1</SUP> Reg FD &ndash; Regulation
Fair Disclosure, promulgated by the SEC, mandates that all publicly traded companies must disclose material information to all
investors at the same time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">All disclosure of material information
made by Calamos about the closed-end funds or any Calamos Sponsored ETF will be broadly disseminated to the public. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ordinary communications of material information
by and about Calamos generally will be through press release, through regular channels. The Firm will not issue materials regarding
itself &ldquo;for broker-dealer use only&rdquo; or with similar restrictions; instead, any such materials will be distributed as
press releases. If conference telephone calls to discuss material information are scheduled by Calamos with analysts, Calamos will
provide adequate notice of the calls, and permit investors to listen in by telephone or internet web casting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any Calamos Access Person inadvertently
discloses Material Nonpublic Information to analysts or other market professionals about the closed-end funds, open-end funds,
or any Calamos Sponsored ETF, Calamos is obligated to provide that information to the general public no later than 24 hours after
the statement is made, or the commencement of the next day&rsquo;s trading on NASDAQ. The Head of Marketing and the Legal Department
must be notified immediately of any such inadvertent disclosure that comes to the attention of any Calamos personnel. The same
obligation applies if the disclosure is intentional.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>6.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Permitted Disclosures to Governmental Agencies and Entities and Self-Regulatory Organizations</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Code does not prohibit or restrict
any person from reporting possible violations of federal, state, or local law or regulation to, or discussing any such possible
violations with, any governmental agency or entity or self-regulatory organization, including by initiating communications directly
with, responding to any inquiry from, or providing testimony before any federal, state, or local regulatory authority or agency
or self-regulatory organization, including without limitation the Securities and Exchange Commission (&ldquo;SEC&rdquo;), the Equal
Employment Opportunity Commission, Financial Industry Regulatory Authority (&ldquo;FINRA&rdquo;), and the Occupational Safety and
Health Administration, or making any other disclosures that are protected by the whistleblower provisions of any federal, state,
or local law or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>REPORTING REQUIREMENTS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of its obligations under the securities
laws, Calamos is required to obtain and maintain information about the trading activity of its Access Persons. Access Persons and
their Related Persons are required to have personal trading accounts at brokers, dealers or banks with which Calamos has an electronic
connection established so that information about account transactions is systematically sent to Calamos (eliminates paper statements).
The Compliance Department maintains a current list of available firms, which is attached hereto as Appendix C. Access Persons and
their Related Persons must transfer existing accounts to one of the available firms within one calendar quarter of the date of
employment unless otherwise approved in writing by the CCO or General Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Initial Disclosure of Accounts and Covered Securities</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When an Access Person <I>begins employment</I>
with Calamos, the Access Person must, within 10 days, provide a holdings report regarding all investment or brokerage accounts
with Covered Securities in which he or she has a Beneficial Ownership Interest. The information required should be input into the
Firm&rsquo;s compliance monitoring system. This report must contain the following information which must be current as of a date
no more than 45 days prior to the date the person becomes an Access Person:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The issuer name and type of security,
and as applicable, the exchange ticker symbol or CUSIP number, number of shares and principal amount of each Covered Security in
which the Access Person had any direct or indirect Beneficial Ownership Interest;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The name of any broker, dealer or bank
with whom the Access Person maintained an account in which any Covered Securities were held for the Access Person&rsquo;s direct
or indirect benefit; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The date that the Access Person submits
the report. (This will be the date the report is submitted into the Firm&rsquo;s compliance monitoring system.)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, a current Access Person must
notify the Compliance Department via the &ldquo;Brokerage Account Pre-Approval&rdquo; form within the Firm&rsquo;s compliance monitoring
system and wait for approval from Compliance <I>BEFORE </I>opening a new investment or brokerage account in which the Access Person
will have a Beneficial Ownership Interest. The Compliance Department will issue an approval for account opening letter to the brokerage
firm and request that the account be added to the electronic feed. Once the account is open the Access Person must disclose the
details of the account by completing a&ldquo;Brokerage Account Disclosure&rdquo; form in the Firm&rsquo;s compliance monitoring
system within 10 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Confirmations and Statements for all Brokerage and Investment Accounts</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Until
the electronic feed is set up, each Access Person is required to direct brokers, dealers or banks to supply to the Compliance Department,
on a timely basis, duplicate copies of all confirmations of personal securities transactions and copies of periodic statements
for all </FONT>Covered Securities accounts in which he or she has a Beneficial Ownership Interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>You
are responsible for ensuring initially that the Compliance Department receives these confirmations and statements and for following
up subsequently if Compliance notifies you that they are not being received. The Compliance Department will direct you to close
an account if </B></FONT><B>it is not on an electronic feed.<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>2</SUP></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD><B><U>Quarterly Transaction Reports (Quarterly Account Statements)</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
Access Person shall report </FONT>all personal transactions in Covered Securities in which he or she has a Beneficial Ownership
Interest during a quarter to the CCO no later than 30 days after the end of the calendar quarter. Quarterly transaction reports
shall include the following information for each individual transaction:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the date of the transaction, issuer name, and as applicable the exchange ticker symbol or CUSIP
number, interest rate and maturity date, and number of shares and principal amount of each Covered Security involved;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the nature of the transaction (i.e., purchase, sale, exchange, gift, or other type of acquisition
or disposition);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the price of the Covered Security at which the transaction was effected;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the name of the broker, dealer or bank with or through which the transaction was effected;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><SUP>2</SUP> An exception may be made if the account is managed by a financial advisor and is held on a discretionary
basis.</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the account number; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the date that the Access Person submits the report.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, each quarter an Access Person must review the list</FONT> of accounts and certify its accuracy. If a new account was
opened in the previous quarter, the Access Person must ensure the applicable information including the date the account was established
and the name of the broker, dealer or bank with whom the account has been established has been entered into the Firm&rsquo;s compliance
monitoring system and is included on the list for which they are certifying.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In addition, quarterly
transaction reports are not required to include transactions in Covered Securities made pursuant to an Automatic Investment Plan
and reported in broker trade confirmations or account statements received by the Compliance Department.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note that although all
Access Persons must complete the quarterly affirmation, specific information (quarterly transaction report) relating to trading
activity need not be submitted under this section if it would duplicate information contained in electronic feeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Annual Holdings Reports</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">On an annual basis, Access
Persons are required to provide an annual holdings report to the CCO that contains certain information which must be current as
of a date no more than 45 days before the report is submitted. Annual holdings reports shall be delivered to the Compliance Department
between January 2 and January 30 of each year. This report must contain the following information:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the issuer name and type of security, and as applicable the exchange ticker symbol or CUSIP number,
number of shares and principal amount of each Covered Security in which the Access Person had any direct or indirect Beneficial
Ownership Interest; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the name of any broker, dealer or bank with which the Access Person maintained an account in which
any securities were held for the Access Person&rsquo;s direct or indirect benefit; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the date that the Access Person submits the report.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">This report will be distributed
to Access Persons annually via the Firm&rsquo;s compliance monitoring system in which they are responsible for reviewing and affirming
to the accuracy of the information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note that although all
Access Persons must complete the annual affirmation, the annual holding report need not be submitted if it would duplicate information
contained in the electronic feeds to the Firm&rsquo;s compliance monitoring system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
CCO&rsquo;s accounts and reports are approved and </FONT>reviewed by General Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; vertical-align: baseline"><B>5.</B></FONT></TD><TD><FONT STYLE="vertical-align: baseline"><U>Certification of Compliance</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="vertical-align: baseline">The
CCO shall annually distribute a copy of the Code and any amendment, and require certification by all Access Persons as described
below. The CCO shall be responsible for ensuring that all personnel comply with the certification requirement. Each Access Person
is required to certify annually that: (i) he or she has read and understands the Code; (ii) recognizes that he or she is subject
to the Code; (iii) he or she has complied with the requirements of the Code; and (iv) he or she has disclosed or reported all personal
securities transactions required to be disclosed or reported under the Code. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="vertical-align: baseline">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="vertical-align: baseline"></FONT></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="vertical-align: baseline">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any Access Person who has not engaged in
any personal securities transaction during the preceding year for which a report was required to be filed pursuant to the Code
shall include a certification to that effect in his or her annual certification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; vertical-align: baseline"><B>6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="vertical-align: baseline"><U>Report to Fund Board</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="vertical-align: baseline">The
CCO of the Calamos Funds shall provide an annual written report to the Board of Trustees of the Fund that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><FONT STYLE="vertical-align: baseline">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; vertical-align: baseline">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; vertical-align: baseline">summarizes existing
procedures concerning personal investing and any changes in those procedures during the past year;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; vertical-align: baseline">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; vertical-align: baseline">describes issues
that arose during the previous year under the Code or related procedures concerning personal investing, including but not limited
to information about material violations of the Code and sanctions imposed in response to the material violations;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; vertical-align: baseline">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; vertical-align: baseline">certifies to
the board that the Fund has adopted procedures reasonably necessary to prevent its Access Persons from violating the Code; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; vertical-align: baseline">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; vertical-align: baseline">identifies any
recommended changes in existing restrictions or procedures based upon experience under the Code, evolving industry practices, or
developments in applicable laws or regulations.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="vertical-align: baseline">In
addition, the Fund CCO shall report to the Board of the Fund on a quarterly basis any material violations of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THE PURCHASE AND SALE OF SECURITIES
BY CALAMOS PERSONNEL </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Persons involved in the
financial services industry are subject to restrictions on the way in which they can buy and sell securities for their own accounts.
These restrictions are imposed by the SEC and other regulators on the assumption that industry employees have a greater opportunity
for access to Material Nonpublic Information than do employees in other types of businesses and have a fiduciary obligation with
respect to trading vis-&agrave;-vis client accounts. All personal trading must be done in a manner consistent with the provisions
of this Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Pre-Clearance of Covered Securities Transactions</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">EACH transaction in a
Covered Security must be pre-cleared by the employee and approved by the Compliance Department via the Compliance monitoring system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Access
Persons and Related Persons must obtain approval from the Compliance Department before acquiring a Beneficial Ownership Interest
in any Covered Securities, unless the transaction is subject to one of the exclusions below</FONT>. If the transaction is not approved,
the Access Person or Related Person shall not participate in the transaction in any manner, whether directly or indirectly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">A pre-clearance request
is submitted via the Firm&rsquo;s compliance monitoring system and reviewed by the Compliance Department, which will either approve
or deny the request. If approved, the transaction may <I><U>not</U></I> be placed for a share amount greater than that which was
pre-cleared. Generally any approved trade must be executed prior to the NASDAQ close of the next business day following the approved
pre-clearance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">When an Access Person
<I>begins employment</I> with Calamos, the Access Person will be given a 10 business day grace period to sell their security positions
in which the Firm is continuously trading. These trade exceptions must be pre-cleared via the Firm&rsquo;s compliance monitoring
system and approved by the CCO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Exceptions to the
Pre-Clearance Requirement:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The provisions of this
Code are intended to limit the personal investment activities of Access Persons only to the extent necessary to accomplish the
purposes of the Code. Therefore, the pre-clearance provisions of the Code <I>shall not apply to</I>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Purchases</I> of shares of open-end mutual funds advised or subadvised by Calamos (sales must
be precleared)<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP> 3</SUP></FONT>;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Purchases or sales effected in any account over which Access Persons or Related Persons have no
direct or indirect influence or control, including discretionary accounts and managed account programs. See &ldquo;Exceptions and
Exemptions to Trading Policies, Procedures and Restrictions&rdquo; below for further discussion of the policies, procedures and
restrictions relating to discretionary and managed accounts;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Purchases or sales that are non-volitional on the part of either the Access Person or Related Person(including
transactions pursuant to preexisting Rule 10b5-1 plans, discussed below) such as assignment of options or an exercise of an option
at expiration;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Automatic dividend reinvestment plan purchases;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Reoccurring automatic investment plan purchases (<I><U>excluding</U> the initial purchase</I> of
the covered security);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Purchases affected upon the exercise of rights issued by an issuer <I>pro rata</I> to all holders
of a class of securities to the extent such rights were acquired from such issuer, and sales of such rights so acquired.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Holding Period Requirement </U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Code requires each Access Person to
<I>avoid excessive, short-term and speculative trading </I>in their Covered Account(s) that may cause undue financial risk or reduce
their effectiveness in carrying out responsibilities at Calamos. It is important to note that market fluctuation in leveraged securities
may require you to liquidate within a relatively short window of time. Access Persons are further prohibited from conducting transactions
for the purpose of market timing in any Covered Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>3</SUP> Sales of shares of Calamos
Funds or subadvised funds are subject to the pre-clearance requirement and cannot be made prior to the required 60 calendar day
holding period. This excludes changes within your 401(k).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To avoid instances of excessive, short-term
and speculative trading, <B>a minimum holding period of 60 calendar days</B> is required from the time of purchase. For purpose
of counting the 60 calendar days, the beginning of the holding period for all transactions starts with the most recent transaction
or LIFO (&ldquo;last-in-first-out&rdquo;).This prohibition includes short sales and applies without regard to tax lot considerations
and without regard to profitability. The 60 day holding period may be waived by Compliance if the security is trading at a significant
loss (20% or greater) from where the Access Person purchased the security. The 60 calendar day holding period also applies to Calamos
advised or subadvised open-end mutual funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If a long call option is exercised after
being held for 60 days, the holding period for the equity shares resulting from the exercised option will be satisfied.<SUP>4</SUP>
Please note these transactions must be precleared and meet the other requirements of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Trading Restrictions</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The trading limitations
described below are designed to prevent violations of the federal securities laws, as well as to avoid even the appearance of impropriety
in trading by Calamos Access Persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>No Transactions with Clients</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
<B>Access Person</B></FONT> shall knowingly sell to or purchase from a client any security or other property except securities
issued by that client.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>No Conflicting Transactions</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">No Access Person, nor
any Related Person shall purchase or sell, directly or indirectly, any Covered Security in which such persons has, or by reason
of such transaction acquires, any direct or indirect Beneficial Ownership Interest (other than shares of an open-end fund advised
or subadvised by Calamos) that the person knows or has reason to believe is being purchased or sold or considered for purchase
or sale by a client, until the client&rsquo;s transactions have been completed or consideration of such transactions has been abandoned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">A security is being &ldquo;actively
considered&rdquo;: (a) when a recommendation to purchase or sell has been made for the client and is pending; or (b) with respect
to the person making the recommendation, when that person is seriously considering making the recommendation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
personal securities transaction of the same <I>(or equivalent<B><SUP>5</SUP></B>)</I> securities (excluding a Broad-based
Security<SUP>6</SUP></FONT>) shall not be executed until the <B><I>sixth business day</I></B> following the completion of
any transaction for a client.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>4</SUP> The Firm&rsquo;s compliance monitoring system
does not recognize the new shares resulting from the exercised option as an equivalent security. The system restarts the holding
period when the shares are created.Therefore, if the Access Person wishes to sell the shares, the Access Person must contact the
Compliance Department for approval of the &ldquo;sell&rdquo; request (All other trading rules apply).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>5</SUP> For the purposes of identifying an equivalent
security, for individual entities, the Compliance Department will review client transactions at the issuer level. Therefore, a
request for an equity purchase will be denied if a conflicting convertible security in the same name has been placed for a client
within <B>five</B> business days. Barring any further activity or conflicts, the associate could trade on the sixth business day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><SUP>6</SUP> Trades in Broad-based Securities require pre-clearance
approval subject to the 60 day holding period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The purchase and redemption
of shares of any Calamos advised or subadvised open-end fund by an Investment Person, Access Person, Outside Trustee or Outside
Director shall not be viewed as a conflicting transaction for the purpose of this section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Restricted List</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">When Calamos
has access to Material Nonpublic Information on a security, the security will be placed on the Restricted List. NO personal trading
is allowed in the security until it is removed from the Restricted List.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Event Specific Trading Restrictions</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">Calamos reserves
the right to impose other trading restrictions from time to time on specified securities and on groups of its directors, officers,
employees, consultants, Related Persons or the entire firm when, in the judgment of the General Counsel, restrictions are warranted.
Calamos will notify those affected by such trading restriction, when it begins and when it ends. Those affected should not disclose
to others the fact of such trading suspension.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>No Initial Public Offerings</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
<B>Access Person or Related Person, and as provided by FINRA Rule 5130, no director, officer, or registered representative of CFS,</B></FONT>
shall acquire a Beneficial Ownership Interest in any security in an Initial Public Offering (&ldquo;IPO&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Margin Accounts </B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although margining and pledging securities
as collateral is not prohibited, <B><I>it is strongly discouraged. </I></B>In any margin or loan account, the securities used as
collateral may be sold without your consent to meet a margin call or to satisfy a loan. If such a sale occurs when a security is
on the restricted list, during a black out period or when you have access to Material Nonpublic Information, it may raise questions
of whether unlawful insider trading and/or violations to the provisions of Section 16 of the Securities and Exchange Act of 1934,
as amended (the &ldquo;Exchange Act&rdquo;) have occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you are unable to meet a margin call,
you must contact the CCO in advance of the call date to discuss plausible exit strategies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Trading Calamos Closed-End and Calamos-Sponsored ETFs </U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Closed-end Funds and Calamos-sponsored
ETFs are Covered Securities and therefore require employees to obtain pre-clearance within the Firm&rsquo;s Compliance Monitoring
System to purchase or sell shares of these funds. </B>In addition, those persons identified as Section 16 individuals (Appendix
B) must consult and obtain approval from an attorney in the Legal Department, prior to engaging in such transactions and must notify
the Legal Department on the day such transaction was effected so the appropriate filing can be made with the SEC. This excludes
dividend or capital gain reinvestments pursuant to a dividend or capital gain reinvestment plans. Such notification is required
to meet reporting obligations under Section 16 of the Exchange Act and the rules thereunder. <I>See the Policy and Procedures for
Filings under the Exchange Act Sections 13 and 16 for more information.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Private Securities Transactions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">No Access Person shall
acquire a Beneficial Ownership Interest in any security in a private securities transaction without the <I>express written prior
approval</I> of the Chairman, CEO, or President of Calamos (FINRA Rule 3280). Access persons must notify the Compliance Department
via the Firm&rsquo;s compliance monitoring system and await receipt of the written approval before engaging in any private securities
transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Private securities transactions
are any securities transactions outside the regular course or scope of your employment with Calamos including, but not limited
to, transactions in unregistered offerings of securities, and purchases or sales of limited partnership interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In deciding whether that
approval should be granted, consideration will be given to whether the investment opportunity should be reserved for clients and
whether the opportunity has been offered because of the person&rsquo;s relationship with Calamos or its clients.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">An Investment Person
who holds a private security must disclose that investment to a Co-Chief Investment Officer and the CCO if he or she later participates
in consideration of an investment in that issuer for a client&rsquo;s account. Any investment decision for the client relating
to that security must be made by <I>other</I> Investment Persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; vertical-align: baseline"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="vertical-align: baseline"><B><U>Additional
                                         Exceptions and Exemptions to Trading Policies, Procedures and Restrictions </U></B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Discretionary and Managed Account Exemptions</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Security
transactions in an account in which an Access Person or a Related Person has a Beneficial Ownership Interest shall not be subject
to the prohibitions of the Code </FONT><I>if</I> the Access Person or a Related Person <B>has no direct or indirect influence or
control over the account</B> (i.e., the account is managed on a discretionary basis) and the Access Person or Related Person does
not have knowledge of the transaction until after it has been executed and provided the Access Person has previously identified
the account to the Compliance Department via the Firm&rsquo;s compliance monitoring system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Discretionary Accounts
must be requested within the Compliance monitoring system and approved by Compliance. In order for an account to be deemed discretionary,
supporting documentation must be provided, from the financial adviser of the discretionary or managed account as well as a copy
of the most recent account statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><B><I>De Minimis</I> Exceptions </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Purchases
or sales in an amount less than $10,000<SUP>7</SUP> in a Covered Security<SUP>8</SUP></FONT> of an issuer (other than shares
of mutual funds) that has a market capitalization of at least $100 billion are exempt from the prohibitions with respect to whether
Calamos is trading the same or equivalent security for the accounts of its clients, however pre-clearance is still required. Further,
trades falling within this <I>de minimis</I> exception still must be reported pursuant to the requirements of this Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>7</SUP> May not exceed an aggregate of $10,000 within
30 calendar days. In calculating the value of options for purposes of the <I>de minimis</I> exception, the calculation is based
on the market value of the shares underlying the option contract (notional value), and not the value of the option contract itself.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><SUP>8</SUP> This excludes trades in Broad-based Securities
which require pre-clearance approval subject to the 60 day holding period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Hardships or other Exceptions</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Under unusual circumstances,
such as a personal financial emergency, or when it is determined that no conflict of interest or other breach of duty is involved,
application for an exemption from certain restrictions on trading (but not pre-clearance or reporting requirements) under this
Code may be made to the CCO, which application may be denied or granted in the CCO&rsquo;s discretion. To request consideration
of an exemption, submit a written request containing details on your circumstances and the reason(s) for the exception requested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The CCO may approve such
exceptions from the Code applicable to an individual, based on the unique circumstances of such individual and based on a determination
that the exceptions can be granted (i) consistent with the individual&rsquo;s fiduciary obligations to clients and (ii) pursuant
to procedures that are reasonably designed to avoid a conflict of interest for the individual.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-underline-style: double">In
addition, the CCO may exempt from Access Person status any individual or class of individual employee that is not required under
Rule 204A-1 or Rule 17j-1 to be covered by the Code in circumstances that are deemed likely to not raise any conflicts with Calamos
clients.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in; color: blue">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Any such exceptions shall
be subject to such additional procedures, reviews and reporting as determined appropriate by the CCO in connection with granting
such exception.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Corporate Accounts Hedging Transactions </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CAM, Calamos Investments LLC (&ldquo;CILLC&rdquo;),
Calamos Family Partners, Inc. (&ldquo;CFP&rdquo;) and its owners (&ldquo;Calamos Family&rdquo;) may invest in and hedge<SUP>9</SUP>
investments made by them in products managed by Calamos to support the continued growth of our investment products and strategies,
including investments to seed new products. Notwithstanding any provision to the contrary in this Code, investments, and the corresponding
hedging transactions, made by CAM, CILLC, CFP and the Calamos Family in Calamos products (excluding Closed-End Funds and Calamos
Sponsored ETFs) are not subject to the substantive restrictions in this Code, such as the short term trading ban. However, the
hedging transactions are subject to pre-clearance by the Corporate Investment Committee. The Adviser&rsquo;s CCO and Funds&rsquo;
CCO are copied in the approval process. In addition, the trading execution order must be (1) Calamos clients, (2) CAM, (3) CILLC,
(4) CFP and/or the Calamos Family.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
General Counsel </FONT>may approve additional strategies or instruments based on unusual market circumstances and on the determination
that the transactions would not impact the broader market or conflict with any client activity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><SUP>9</SUP> For purposes
of the Code, hedging transactions, or a series of hedging transactions, are defined as instruments used to reduce the overall
risk and volatility of investments made in Calamos products only. The instruments used to complete the hedging transactions must
be Broad-based Securities which can be long and/or short instruments that may include, but not limited to, indices, ETFs, and
futures as well as options on these instruments. Hedging transactions may also include index collars which are commonly employed
in order to add downside protection while making a trade-off and limiting upside profit potential by writing calls to help finance
the cost of the puts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>TRADING POLICIES AND PROCEDURES FOR OUTSIDE TRUSTEES, UNAFFILIATED
TRUSTEES, OUTSIDE DIRECTORS AND THEIR RELATED PERSONS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although an Outside Trustee, or an Unaffiliated
Trustee, or Outside Director are generally exempt from certain reporting requirements, they are required to file quarterly transaction
reports under certain circumstances. They shall report in writing to the CCO of the Calamos Funds, within 30 days after the end
of a calendar quarter, any transaction by him or her or a Related Person in a Covered Security if, at the time of the transaction
he or she knew, or in the ordinary course of fulfilling his or her duties as a Trustee or Director should have known, that on the
day of the transaction or within 15 days before or after that day a purchase or sale of that Covered Security was made by or considered
for a Fund. Such reporting, if required, shall contain the same information required for Access Persons (as described above in
the Section entitled: &ldquo;Reporting Requirements&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An Outside Trustee or Unaffiliated Trustee or Related Persons
shall also report in writing to the Fund CCO and the Calamos Legal Department , for the filing of Form 3 and Form 4, <B><U>within
one business day</U></B>, any personal securities transaction by him or her or a Related Person of any of him or her in shares
of Calamos Closed-End Funds. Such reporting is required to meet obligations under Section 16 of the Exchange Act and the rules
thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>No Transactions with Clients</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">No </FONT>Outside
Trustee <FONT STYLE="font-size: 10pt">or Related Persons shall knowingly sell to or purchase from a client any security or other
property except securities issued by that client. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>No Conflicting Transactions</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No Outside Director, Outside Trustee, Unaffiliated
Trustee nor any Related Person of any of them<B>, </B>shall purchase or sell, directly or indirectly, any Covered Security in which
such persons has, or by reason of such transaction acquires, any direct or indirect Beneficial Ownership Interest (other than shares
of an open-end fund advised or subadvised by Calamos) that the person knows or has reason to believe is being purchased or sold
or considered for purchase or sale by a client, until the client&rsquo;s transactions have been completed or consideration of such
transactions has been abandoned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A security is being &ldquo;actively considered&rdquo;
(a) when a recommendation to purchase or sell has been made for the client and is pending or (b) with respect to the person making
the recommendation, when that person is seriously considering making the recommendation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Absent
extraordinary circumstances, a personal securities transaction of the same <I>(or equivalent<SUP>10</SUP>)</I> securities (excluding
a Broad-based Security) shall not be executed until the <B><I><U>sixth </U></I></B></FONT><B><I><U>business day</U></I></B> following
the completion of any transaction for a client.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The purchase and sale of shares of any
open-end fund advised or subadvised by Calamos by an Investment Person, Outside Trustee, Outside Director or Related Persons shall
not be viewed as a conflicting transaction for the purpose of this section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>10</SUP> For the purposes of identifying an equivalent
security, for individual entities, the Compliance Department will review client transactions at the issuer level. Therefore, a
request for an equity purchase will be denied if a conflicting convertible security in the same name has been placed for a client
within <B>five</B> business days. Barring any further activity or conflicts, the associate could trade on the sixth business day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">A purchase or sale of
securities in an account in which an Outside Trustee or a Related Person has a Beneficial Ownership Interest shall not be subject
to the prohibitions of the Code if the Outside Trustee or a Related Person of the Outside Trustee <B>has no direct or indirect
influence or control over the account</B> (i.e., the account is managed on a discretionary basis by someone other than the Outside
Trustee or the Related Person, and the Outside Trustee or Related Person does not have knowledge of the transaction until after
it has been executed).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Section 16 Reporting and Prohibitions </U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the requirements of Section 16 of
the Exchange Act and the rules thereunder, certain parties are required to report any transactions in the Calamos Advised Closed-End
Funds or Calamos Sponsored ETFs, other than acquisitions resulting from the reinvestment of dividends or interest pursuant to a
dividend or interest reinvestment plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These persons include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Funds principal financial officer or principal
accounting officer</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any trustee of the Funds, including Outside
Trustees </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any directors of CAM, including Outside
Directors </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any vice-president of Calamos in charge
of a principal business unit, division or function (such as sales, administration or finance)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any other officer or person of Calamos
who performs a policy-making function</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Individuals subject to this requirement
are listed in Appendix B, which may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Directors, officers and principal shareholders
of the Funds are subject to the &ldquo;short swing&rdquo; trading provisions of Section 16. Subject to certain exceptions, an officer,
director or principal shareholder who engages in any combination of purchase and sale, or sale and purchase, of the Funds within
any period of less than six months must turn over to the Funds any profit realized or loss avoided by such a combination of transactions.
<B><I>This is an absolute penalty imposed by law, and it is imposed regardless of any intention on the part of the director, officer
or owner. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transactions of Immediate Family members
of the persons listed above are generally subject to the reporting requirements, on the theory that such persons will financially
benefit from these transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These persons must also file an Initial
Statement of Beneficial Ownership of Securities (known as &ldquo;Form 3&rdquo;) to report share ownership, or when becoming a reporting
party, and Statement of Changes of Beneficial Ownership of Securities (know as &ldquo;Form 4&rdquo;) for subsequent reports of
transactions. Although the Legal Department is prepared to assist these persons in preparing such filings, the responsibility for
such filings, including notifying the Legal Department of the transaction and obtaining prior approval, as stated above, is that
of the individual.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>OTHER REGULATORY REQUIREMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain other restrictions are imposed
upon Calamos personnel, other than Outside Trustees, Unaffiliated Trustees and Outside Directors, as a result of being in a highly
regulated industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Outside Employment or Outside Business Activity </U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">What employees do outside the office on
their own time is their business as long as it does not reflect negatively on or otherwise conflict with the company and its activities.
However, for full-time employees of Calamos, it is expected that their position with the company is their primary employment. Any
outside activity must not interfere with an employee&rsquo;s ability to properly perform his or her job responsibilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Personnel contemplating a second job or
other outside activity must notify their supervisor immediately. The supervisor will thoroughly discuss this opportunity with the
employee to ensure it will not interfere with job performance at Calamos, nor pose a conflict of interest. All outside business
activities must be preapproved by your supervisor and reported to the CCO via the Firm&rsquo;s compliance monitoring system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Service as a Director or Officer</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No Access Person may serve as a member
of the board of directors or trustees, or as an officer, of any publicly-held company without the prior written approval of the
Chairman, CEO, President or the CCO, based on a determination that the board service would not be inconsistent with the interests
of Calamos clients. If an Investment Person is serving as a board member, that Investment Person shall not participate in making
investment decisions relating to the securities of the company on whose board he or she sits. Because of the potential for real
or apparent conflicts of interests, such service is strongly discouraged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Gifts and Entertainment</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Conflicts of interest may arise when employees are presented
with gifts or entertainment from persons doing business with Calamos or hoping to do business with same. The Advisers Act as well
as the 1940 Act require that Firms address these potential conflicts by adopting policies and procedures pertaining to Gifts and
Entertainment. If a conflict does arise, the burden of proof falls on Calamos to prove they acted in the best interest of the client(s).
So if ever there is a doubt regarding if a conflict exists, an employee should assume a conflict does exist, and therefore, he
or she should not give or accept a gift or entertainment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Regulations require Calamos to monitor gifts and entertainment.
See also the separate policy on Gifts and Entertainment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Gifts</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Employees may not give or receive a gift with a value greater
than $100 or &pound;100 per year, per giver or recipient. If multiple gifts are given or received, their combined value may not
exceed $100 or &pound;100 per year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cash or cash equivalents are not allowed to be given or accepted.
This includes a gift card that may be converted into cash. Any gift accepted must only be accepted by an employee who is certain
that there is no conflict of interest, or appearance of same, raised by the acceptance of such gift. No gifts in poor taste may
be given or accepted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pre-approval is required when giving gifts. An employee should
enter the gift via the Firm&rsquo;s compliance monitoring system providing the recipient name, title, and company, as well as a
description of the gift and its actual or estimated value. The employee must await approval from the Compliance Department <I>before
</I>giving the gift.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gifts <I>received</I> must be reported upon occurrence to the
Compliance Department via the Firm&rsquo;s compliance monitoring system. The reporting should include the name of the giver, with
title and company name as well as a description of the gift and its&rsquo; actual or estimated value. The CCO reserves the right
to require the employee to return any gift if it determines such return is appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Entertainment</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Entertainment provided or accepted must be appropriate and reasonable.
The employee must consider any conflicts or potential conflicts prior to providing or participating in entertainment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Employees may obtain Calamos owned tickets to, for example,
a sporting event. When the tickets are used by an employee with a client or vendor, it is considered entertainment. If the employee
gives the tickets to a client (or vendor, etc.) and does not attend the event himself, the tickets are considered a gift and the
$100 or &pound;100 limit applies. The same is true if a Calamos employee accepts tickets from a client or vendor and attends the
event without that client or vendor, this is a gift and it should be pre-approved by the Compliance Department.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An employee should not provide or accept
entertainment to or from the same client (or vendor, etc.) on a frequent basis. Invitations for excessive or extravagant entertainment
must be declined. If such entertainment is accepted inadvertently, it must be reported to the Compliance Department via the Firm&rsquo;s
compliance monitoring system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Special Provisions for Public Pension
Systems and Taft-Hartley Funds </B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify"><B>Public Pension Funds</B>. Calamos and its Associates may not provide gifts or entertainment
to persons of public pension funds without <I>prior written pre-clearance approval</I>. Please refer to &ldquo;Political Contributions
and Lobbyist Policies and Procedures&rdquo; regarding lobbying activities. All such expenditures, regardless of amount, must be
reported on the Firm&rsquo;s travel and expense recordkeeping system.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify"><B>Taft-Hartley Funds.</B> Calamos and its Associates may not provide over $250 of entertainment
benefit to any one labor organization, union official, employee of a labor organization or labor relations consultant during any
calendar year without the <I>prior written pre-clearance approval</I> the of the Compliance Department. All such expenditures,
regardless of amount, must be reported on the Firm&rsquo;s travel and expense recordkeeping system.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Please also refer to &ldquo;Political Contributions
and Lobbyist Policies and Procedures.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Political Contributions</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Rule 206(4)-5 under the Advisers Act, also
known as the &ldquo;Pay-to-Play&rdquo; rule (&ldquo;the Rule&rdquo;), <I>prohibits</I> an Investment Adviser from receiving compensation
for investment advisory services rendered to a government client for <I>two years after</I> the Adviser or certain of its executives
or advisory personnel make a contribution to certain elected officials or candidates. There are specific requirements and limitations
under the Rule. Because of the impact political contributions may have on Calamos advisory business, all Access Persons must get
approval <I>prior</I> to making a political contribution. These requests should be pre-cleared via the Firm&rsquo;s compliance
monitoring system. If approved, the contribution must be made within 14 calendar days of approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For further details, please refer to &ldquo;Political
Contributions and Lobbyist Policies and Procedures.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Identifying and Reporting Conflicts of Interest and Other Ethical Concerns </U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Calamos believes that
the interests of Calamos and its clients can and should be aligned, despite the potential for conflicts of interest in the investment
adviser/client relationship. In addition to being in the best interests of our clients to avoid conflicts of interest, it is in
the best interest of Calamos itself to avoid actual and even, if possible, potential conflicts of interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In a company of our size
and complexity, it can become difficult to identify conflicts of interest and other potential problems. But identification is the
first and most necessary step in resolving those issues. Calamos believes that those dealing with the details of running its business
operations are in just as good a position &ndash; often a better one &ndash; as Calamos management to identify potential problems.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">All Calamos employees
have an interest in identifying and solving potential problems. Each employee should feel free to raise questions and analyze what
he or she is doing. In the end, Calamos is paying all of us to think and use our best judgment, and that includes raising questions
and joining the discussion that shapes our business policies and practices. If any employee is concerned about an apparent conflict
of interest, or any other legal or ethical question involving our businesses, the employee should raise their concerns with the
CCO or General Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An employee may report concerns directly to his or her manager
or to Senior Management&rdquo;. Calamos encourages open-door, in-person reporting of concerns but also recognizes that some employees
may feel uncomfortable raising issues, especially if they question the propriety of something that is occurring. Thus, as an alternative
to direct reporting, employees may report concerns via EthicsPoint, which is an independent third-party service provider contracted
to facilitate anonymous reporting of concerns. EthicsPoint is described more completely on the Calamos intranet site and also is
accessible through <U>https://secure.ethicspoint.com/domain/media/en/gui/6143/index.html</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify">Calamos will not tolerate retaliation
in any form against employees who in good faith report actual or suspected concerns under this policy or against individuals who
assist in the investigation of reported illegal or unethical conduct. Any act of retaliation should be reported immediately.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify">This policy should be read in
conjunction with the &ldquo;Calamos Internal Whistleblower Policy&rdquo;, accessible on the Calamos intranet site.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify"></P>

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify">This policy is intended to encourage
employees to raise any concerns regarding illegal or unethical conduct. However, consistent with SEC Rule 21F-17, nothing in this
policy or any other policy or agreement, limits an individual from initiating communications directly with, responding to any inquiry
from, volunteering information to, or providing testimony before, the SEC, the Department of Justice, FINRA., any other self-regulatory
organization or any other governmental, law enforcement, or regulatory authority, in connection with any reporting of, investigation
into, or proceeding regarding suspected violations of law, and no individual is required to advise or seek permission before engaging
in any such activity. In connection with such activity, individuals should identify any information that is confidential and ask
the government agency for confidential treatment of such information. Despite the foregoing, individuals are not permitted to reveal
to any third party, including any governmental, law enforcement, or regulatory authority, information that is protected from disclosure
by any applicable confidentiality provisions or privilege, including but not limited to the attorney-client privilege, attorney
work product doctrine and/or other applicable legal privileges. Calamos does not waive any applicable privileges or the right to
continue to protect its privileged attorney-client information, attorney work product, and other confidential or privileged information.
Additionally, an individual&rsquo;s ability to disclose information may be limited or prohibited by applicable law and Calamos
does not consent to disclosures that would violate applicable law. Applicable laws include, without limitation, laws and regulations
restricting disclosure of confidential supervisory information or disclosures subject to the Bank Secrecy Act (31 U.S.C. &sect;&sect;
5311-5330), including information that would reveal the existence or contemplated filing of a suspicious activity report. Confidential
supervisory information includes any information or materials relating to the examination and supervision of Calamos by applicable
regulatory agencies, materials responding to or referencing non-public information relating to examinations or supervision by regulatory
agencies and correspondence to or from applicable regulators.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>RECORD RETENTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The Compliance Department
shall maintain the records listed below for a period of five years in a readily accessible place:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a copy of each Code that has been adopted or been in effect at any time during the past five years;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a record of any violation of the Code and any action taken as a result of such violation for five
years from the end of the fiscal year in which the violation occurred;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a record of all written acknowledgements of receipt of the Code and amendments for each person
who is currently, or within the past five years was, a Supervised Person;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a record of each holdings and transaction report made pursuant to the Code, including any brokerage
confirmation and account statements made in lieu of these reports;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a record of any decision and supporting reasons for approving the acquisition of securities in
limited offerings for at least five years after the end of the fiscal year in which approval was granted; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a copy of each SEC Form 3, Form 4, and Annual Statement of Beneficial Ownership of Securities.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Appendix A &ndash; In-Scope Entities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This policy pertains to the entities listed in the following
tables (collectively referred herein as &ldquo;Calamos&rdquo; or &ldquo;the Firm&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Companies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Company name</B></FONT></TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Asset Management, Inc. </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holding company</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Investments LLC </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated company managed by CAM</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Advisors LLC </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Investment Advisor</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Wealth Management LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Investment Advisor</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Financial Services LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Distributor</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Table 1 - List of In-Scope Companies</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Funds for U.S. Investors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Closed-End Fund Name</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Convertible Opportunities and Income Fund</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Convertible and High Income Fund</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Strategic Total Return Fund</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Global Total Return Fund</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Global Dynamic Income Fund</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Dynamic Convertible and Income Fund</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calamos Long/Short Equity &amp; Dynamic Income Trust</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Table 2 - List of In-Scope U.S. Funds</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Revision Date</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adopted: June 30, 2005</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: March 17, 2009</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: December 04, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: June 23, 2014</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: September 25, 2014</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: July 1, 2016 effective August 1, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: November 1, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: January 24, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: December 12, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: October 12, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: July 9, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: September 25, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revised: June 30, 2020</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Table 3 &ndash; List of Revision Dates
for Policy</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 28; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>APPENDIX
B</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><U>SECTION
16 INDIVIDUALS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">(Dated
6/30/20)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">John
P. Calamos, Sr., Chairman, Trustee and President, Calamos Funds</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">John
S. Koudounis, Vice President, Calamos Funds</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">J.
Christopher Jackson, Vice President and Secretary, Calamos Funds</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Robert
Behan, Vice President, Calamos Funds</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Thomas
E. Herman, Vice President, Chief Financial Officer, Calamos Funds</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Mark
J. Mickey, Chief Compliance Officer, Calamos Funds</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Stephen
Atkins, Treasurer, Calamos Funds</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">John
E. Neal, Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">William
R. Rybak, Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Virginia
G. Breen, Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Lloyd
A. Wennlund, Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Karen
L. Stuckey, Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Christopher
M. Toub, Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 29; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B><U>APPENDIX
C</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>FIRMS
WITH ELECTRONIC FEEDS TO </U></FONT><U><FONT STYLE="font-size: 10pt">FIRM&rsquo;S COMPLIANCE MONITORING SYSTEM</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">(Dated
3/26/2020)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Ameriprise</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Charles
Schwab</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Chase
Investment Services</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Edward
Jones</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">E*Trade</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Fidelity</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Interactive
Brokers</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">JP
Morgan</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Merrill
Lynch</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Morgan
Stanley Smith Barney</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">RBC
Wealth Mangement</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">TD
Ameritrade</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">T.
Rowe Price</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">UBS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">U
S Bank</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Vanguard</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Wells
Fargo</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 30; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence -->-</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>j2153993_da001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j2153993_da001.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    9   _^X #D%D
M;V)E &3      ?_; (0  0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0(" @(" @(" @(" P,# P,# P,# P$! 0$! 0$" 0$"
M @(! @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P,#_\  $0@ 4P%< P$1  (1 0,1 ?_$ :(    & @,!
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M#UYB<-G<I2TYI5W-OK(^3.=A;PF@))BJMV[VR=?D)%^BO4%18 #W[KW5*O\
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M'C<1AZ.:OR-;55%1)%!##34M.SLSLJ@#D^_=>Z^>]_)YVYG_ .=K_/V^0?\
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MK_D\>4;8O8G5_8NY-XX_\5550IG.M\+(!ZHX)&/Z3+ZO=>ZOG_D:[NW%O?\
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M5I)+"S1TTT^@C4RI8>Z]U;][]U[I,[U_O)_<W=O]S='][_[LY[^ZGE^T\?\
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0^GT^GX_P]^Z]UW[]U[K_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>tm215399d1_coverimg001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm215399d1_coverimg001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !' 9@# 2(  A$! Q$!_\0
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M2DD_2IZ "BBD9@JEF(  R2>U "T5QND^)'N/$\PD+"SNCY<!/3*]/S_K794
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' %%%% '_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>tm215399d1_ex99-r1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm215399d1_ex99-r1img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  (! 0(! 0(" @(" @(" P4# P,#
M P8$! ,%!P8'!P<&!P<("0L)" @*" <'"@T*"@L,# P,!PD.#PT,#@L,# S_
MVP!# 0(" @,# P8# P8," <(# P,# P,# P,# P,# P,# P,# P,# P,# P,
M# P,# P,# P,# P,# P,# P,# P,# S_P  1" 06 Y<# 2(  A$! Q$!_\0
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M/7\P?VC+L?T!#]L;X1D_\E1^'?\ X4EG_P#'*7_AL/X2?]%1^'?_ (4=G_\
M'*_ >?3KFZC,MWI]IK$(&XW-@X60#U.P?^AIFL[^P++5'/V&_$+C_EA?#RFS
MZ!QE3^.WZ4?V>OY@_M&78_H)_P"&P_A)_P!%1^'?_A1V?_QRC_AL/X2?]%1^
M'?\ X4EG_P#'*_GKU+0+O1BGVFWDC5_N/C*2?[K#@_@:KA,^E/\ L]?S!_:,
MNQ_0Y_PV)\)#_P U1^'?_A26?_QRE_X;"^$O_14?AW_X4=G_ /'*_GC6+%+L
MI?V>OY@_M&78_H;_ .&POA+_ -%1^'?_ (4=G_\ '*/^&POA+_T5'X=_^%'9
M_P#QROYY0G'2E"9I_P!GK^8/[1EV/Z&?^&P?A+_T4_X>?^%'9_\ QRC_ (;!
M^$W_ $4_X>?^%'9__'*_GF\LYZT[R_K2_L]?S"_M&78_H7_X;!^$W_13_AY_
MX4=G_P#'*/\ AL+X2C_FJ'P\_P#"CL__ (Y7\](AI1'QVH_L]?S#_M&78_H5
M_P"&POA*?^:H?#S_ ,*.S_\ CE _; ^$Q_YJ?\//_"CL_P#XY7\]8BIPBR:/
M[/7\P?VC+L?T)?\ #8/PF_Z*?\//_"CL_P#XY1_PV#\)O^BG_#S_ ,*.S_\
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M\/?_  HK/_XY7\_WD^U'D^U']GKN']I2['] /_#7GPG_ .BG?#W_ ,**S_\
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MH?#S_P *.S_^.5_/.R8'>C93_L]?S!_:,NQ_0Q_PV%\)?^BH_#O_ ,*.S_\
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M4?V>OY@_M&78_HJ_X;'^$7_14_AS_P"%)9__ !RC_AL?X1?]%3^'/_A26?\
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M@@''K7UI_P $^/\ @G)IGQ)\*?\ "R/B:PM/",2-<6-C--]F6[C3.Z>=^-D
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M'0VG:3O'$EW(G[V0?[D3;?K-_LFHJ3Y(\S*IP<Y<J/@(KN%1DLI[CZ5]#_\
M!3#]F%OV7?VIM7LK2V\GPYXASJ^D%5Q&D<C'?".P\N0,N.H78?XA7SZQ%.,E
M)71,X<LN5D0E8=Z07CJ>QI]-=,BKYF9\B')=^8P'EEB>@7DT"Y1O;ZU]&_\
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M?\" )QQFOTEO-7\(_P#!&+]BK29DT2'5/&VOF.*X7S LNI7YBWR%Y!DBWAY
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MU-)+0PC&#@VWJ?)S+BF,N#4W6FLN*W,2$\4UQS4CK33R* (R,BH^AJ2FN,4
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M% ';64]R\02SUZUNDZ?9[[Y0,X[2@I^M%[9>3"9-1\.[$SS<V+E%]?\ ;C_
M <55LIVU&U\ZZ\.I(F!NDM24Q[[D+1_I3]/GTZVNM]EJ>J:/,,8WIO /'\:$
M-Z_P4 6-.O8XD\K3M>FME<C-O?1$1-]<;U/X@58DTJ6YB,MWH<-[$,%KG2I
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M3@*>&Z_PL?I61=VLNGW+13Q2P2J<%)%*L/P-("0-Q2$BH2Y(IX.#S0!,N *
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M0O\ 1U)%=6TQM;\/*3#=/]UY1_9]T1G^"5<PR#W8<Y%3)(;2\VM_H]S*H()
ML9Y0>G/,$PY]B?QI6 X('%+NKL]2\.6.HSB*:+R;HC@(HL[@\#K"Q\N3_MFP
M)XK%OO =Y#.T=F1>NG)@VF.Y7KUB;YCT_AW#WI 8V\XIR.:BE+6TICD5D=3A
ME88*GW%*): )U? I0^:@63-.WT 3;J,XJ#<:4R$^M %A9<<9IP;%5T;-/WT
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M7E>5ELC3\%>-M1^&_C/2O$&DW#6NJ:-=Q7MK,O\ RSDC8,I^F1R.XXK]+?\
M@I/X5L_VWOV!?"?QE\.VBM?Z#;C4+E%7,D=J^$NHL]Q%*H8D_P ,;GOS^7S5
M^@?_  14_:ETRWTOQ3\(?&%Y9IH>I0R:AIOVZ55APR[+JV)8XPZE6"^TG]ZI
MKIJTUT'0DM:;V9^?._(I!$URZQQJSR2,%15&2Q/  'K7H'[5OP9B_9__ &@?
M$GA:SO8-2TNRN3)IUW#,LRSVK_/$2RD@L%(#?[2M3OV0O!]CX^_:B\ Z5JMQ
M;6NEW.MVS7DEPX2,0HX=P200,JI SQDBM^;W>9'/;WN4^]/^"KC#]G__ ()S
M?##X;6S+;S7+V5G<Q @&:.TMBTI(PI),YB8G;U/."17YG>&_%NH^!O%&FZUI
M5PUIJ6D74=Y:S)UCEC8,K?@0*^VO^"[7QHL?'WQW\(Z!I>H6FHV.@Z,UTTEK
M<+-&)KB4AE)5B,A84., X;N",?"DQR*RP\?<UZFV)?[S3H?JA^V7\%1_P52_
M9*^&OQ-\#6L3>+8Y8;.[MU/^KCFE6&YB<]<03_."?^6?F-CYA7)?\%:OB7I?
M[)_[*_@C]GKPC+L^TVD4NJ,ORLUI$V07Q_%/<!I#C_GFW9JXC_@BC^VG8?!+
MQ#XG\#>*M12Q\.ZE:S:Y93S-A+:XMXB\Z_\  X4+?6$ 9+5\E_M5_M W_P"U
M#\?O$OC:^\R/^V+LFT@=L_9+5/D@B],K&%!(ZMN/>L84I<_*]D:5*L>3F6[.
M%TS5[CP_JEK?6LGE7=C,EQ!)M#>6Z,&4X((."!U&*_2;_@O;H<'Q;_98^$?Q
M/L5?[,9PJ<'Y8;^V2=22<'@P*.1GYCTK\S7?+?2OTMU/QOHO[17_  0AETJZ
MUK3U\1>%=/\ DM9;F-;C-A<[E 3@G-NN 1Z]2<UM6NI1F8X?WH2@^Q^5Y;"U
M^@7_  0%_:GL_AW\8=>^&6M3PPV/CE%N=->9\+]MB4@Q<\9EC)QZF)0.N*_/
MEGR*?8ZI<Z-J%O>6=Q-:7EK*LT$\+E)(74AE96'(((!!'3%;SI\T7$QI3Y)*
M2/HW_@J!^PEJ_P"Q;\>M0,-G,_@3Q%=276@7X!,:*WSM:N><219(Y^^H##J0
MOS(3S7ZJ_LE_\%;_ (;?M/\ PBB^&/[25G8&ZD1;8ZO?6^_3]3P"JR2E1NMI
MP#_K!A<Y8,F<5J^+/^#?SX5?&93K?PQ^*=[IVD7;AT"K!KMH@(+;8Y$DC;&&
M0C<[''4G<,81KN'NU4=$J"F^>DS\D7?!K]%_^"$'["][XK^)8^-/BFQ:T\+>
M&DD_L(W2[5O[O!5IUS_RSA7=\W0N1@YC8#V#PS_P1R_9U_8PB@\1?&3X@1ZZ
MD1#10ZO<QZ593NN2<0*[2R]CL#M]TY!&:\4_X*4?\%G+;XI^#;CX8_!B&?1/
M![1_9;[64C^RR7\&,&WMX@ 8H2.&)PS#Y<*N=\RJNK[E-#A25)\]3[CY_P#^
M"L'[5MI^UU^V3KNN:/<BZ\-:)$FB:/,/NS00EBTJ\?=>5Y6'?:R_2OFAWR*=
M+\JBH&.:ZX148J*..4G.3DQ,#<37K7["GBSQ-X3_ &P_AG/X2FN4UIO$EE!!
M'$Y43K),L<D;X(^1XV96R0-I;) YK["_9$_X(=^$?VQ/V5/"/C32_B9J6@Z_
MJMLSZI:M9PZE#;2+/*F BO$Z914(#,3U/(( ^D_A#^Q!^SE_P2$OO^$]\:^-
M8]1\5V,#S6-QJTT:W$:E60_8[./YV=LLN[YSR<%>:YYXF%G%;G3##3NI=#PW
M_@XPUBP\+?&_X;W,:K-J=YHES%=IMV,L*3@PG=CG+//QGC';//Y^:7X^T_4,
M*9# _I*,?KTKL?\ @HG^V9>_MT?M,ZGXS>![#1X(ETW1;-\;[:RC9BF_'&]F
M=W;K@O@' %>$ ?2MJ"<8),QKR4ZCDCUT3+,H92&!Z$'K17E=AJUUI;YMYWB]
M@>#^'2MW3OBA+;86\A$HSC?&=I'X=/Y5M<YSM1WIC#(JAI'BVQUDXAG7>W1'
M^5OR/7\*OD\50##TJ,\BI#TJ.@#]A/\ @WQ_Y,R\3?\ 8Z77_I#844?\&^/_
M "9EXF_['2Z_](;"BO"Q/\5GT.%_A1. _P"#IK_E'WX/_P"RA67_ *;=3K\#
MJ_?'_@Z;_P"4??@__LH5E_Z;=3K\3OV5?V=M8_:R_:(\)_#S0\K?>)]02U,V
MS<+2+[TL[#^['&'<COMQ7[%P76C2R?VDW9)R;/QWC2E*KG/LX;M11^PG_!LC
M^Q(/ 'P7UGXU:S;#^UO&[-IFB;AS!IT+XDD'H99U((_NVZ$?>-?JJIV#G%<U
M\&?A3H_P.^%N@>#O#UK]BT/PUI\.FV4/=(HD"+D]V.,ENI))/6N)_;B_:AL/
MV/OV9_$_CF\V2W&F6_EZ=:LV/MEY)\D,?TW'+8Z*K'M7Y/FF.GCL9/$2^T]/
M3H?JV58&&!P<*"^RM?7J?E5_P79_:JLOCU^TNG@.SUDP:'\-]]M/&L+.MQJ+
MX,[Y&!^[&V(#LRR<X:OALZ/I>/\ D,'_ ,!'_P :L:]X[B\6^(K_ %74]/\
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MIRYTWQ5J&FXY\NXAD1#WY\LN#R!U%+5 ;OA7XA2Z'$(-/\52/9KPEGJL+HH
MSC&WS$Z #G Y[5V^F:K_ ,))'O\ [)TS46923]AF7S%'S<XB8CL>J_A7G*QZ
MAJ,OEM:>&?$ )V@Q-$DS<@?\LVCE.<#D@]:S]0M;#3W'V[1-;T.;LT<A*CKT
M210>Z_QT6N5<]@T_4;33)CY%YK6@SYR58>8G4]2-K8Z?PGO5S?/J#;=F@ZYN
M'52()CGI_P \W)Y[@]*\^\.?%*>VB2W7Q/'?6RYVPZK;L& &[CD21]/4CKUX
MKL;.:/Q#%YO]BVE\I!+2:5<991SR0A=1T/\ "*FPTRZC1Z'-]W7/#DI[@F2-
M_3^X<=>[5/E]3//]@ZX#QP?LLY&2/]@DX_WNHJAIVL0V+F*WUC4M*[&&YB,D
M7H=VT\]3_!5LV\NIG+:?HNL?[=C(()B>I^1=IZ#O'WI#)8IET)?+,^MZ 7QF
M.>/S[>3D]1A3C_@+=Z>+,ZO'N&GZ7JAXQ)IL_P!GG!]?+Q_[3]*JQZDNB2>2
ME[K.BL#\UO>1>="<9^\./_0#S4PL3JB@FPTC5._F:;-]GGZ?\\^/_1?7-!:9
M8?5/-(ADU%@5^46NN6N[:HZ!9 "1W'\%3VROID32Q6^I:;&Q(:?2YQ>6I!'\
M2;NG'=OPXJD=5%A_H[:A?66P8%IJ]GY\2X[#AB/P05+!8%'^T0:>RN,L+G0K
MS>5QSDQY8C&?]GK3&2Q>7JDJR0IIE_.%W"6QE-C=J?\ <("D]?NJ>HYJQJ-X
MES*T=W)%-,/E-OK5LT%P/I.G7KG+$#VJD]Y%J;>5+=Z9J+*=ICU.$V=R.>\J
MD9.?[S_A5EGFT>WV2?VKIMJQ)V742ZC8M]#C ]. 3TI 6KEC!8K]I^U0VW15
MOXA?V8_W9D^9?^ C\:?:3[;)Q$D\5IMR1;[=3LA]8F^>/Z]1Z54TU"G[ZPA;
M>QYFT2[)+<Y^:W?YL>WRBEA>"]U'(-A<7()Y!_LF]0G\HBV?KTI7%<T=.F$T
M!2U8/;8W.NFO]IA/NUI-\W?G'OBG:=<!@\-F0\3$EX; [U)/7?9S<^O*''2J
M=\X614O]NYLA5U>U:&4$?W;F+EOJW%3W?[NW#7JR&WP CWZ?;K<#T2ZB^=>O
MX<9HO?8+EO3Y?-5[6+:T6\[K> ;U0]]UG-\V[D\QM]*F@(O8/L@47,<)Y@C4
MSB$],"WEVS1].L;8JG(S7%B/,,L]D,$O)C4[5!_UT7$T/?WJ6,G4[3DO>6R@
M9VG^T8HR/?BXA'^>:5AERYBBUZ I,D=\L2_,6#W7E#\EN8NO0AQ[5@7_ ,.;
M>ZM7GL[DVZJ<?O&\^WSZ><@RI]I$7KUK9BF_M6)'^:]MXR,2$M?)%CON7;<P
M\'OGK4D5Y]I7[7YGGLG6Y20SF,>\\6)X_P#MHC=:0M3A-2\/7V@0![FW98F.
M%F4AXG^CC*G\#5,3;SQ7IL5WLA:X#C9)P\T;KB;K]Z6(&-CUXFB'3DU1U;P?
MIFI8=X4L_,!*31%(%DZXQ\Q@?_@+H?:@9P*R8XH\S-;VJ_"^_M),6S+=-U\A
ME\FYQZB-L;OJA8>]<_<0R64YCE1XI!P5=<$?@: )%8XZTN<U"LF!3A+S0!)1
M49FQWI/-^M $N:0MBHC(32;C0!-OIIEJ(FC=0 _S?K2;Z9O%(9<4 /)S2$U&
M9:0R4[ 2%L4ADP*B+9I,T6 D,M-+YII.*0OBC0!Q8TE-WTA;-%P'%L4A?BFT
M;J0"EB:2DWTTO3L _-(7J,O2%Z=@'EJ8Y#4F<TE/0!"N6S4;84U+G%0,<N?K
M230>8K-FFXS11FALEO01FQ43L2>M/D;!J%W^:F-(4]*CQ2YS24 PJ*7^M2DX
MJ&1LG\:8HC>M 7%!/%,+9J5<.9CBV*AG^[[TK-3)#D4TK"N,%!;%&<5&QP*8
M-W%+Y-1L<FDSF@G% @(XIC-D4K/4;-2 :34<K4K')I"<4P()1EJ:SX'K2W+Y
MD'TJ/-! 'DU0UR'=;9&<J<_A5XOBJ]WB5,'N,4[W$8+GFF.V1229$I![<4G2
MK CE;FH6.:?.<DU%UI;[CV C+4TC;3J;(:9&[(7.2:CISM\QIM!0C#BHR*>Y
MJ)VI$:B,>#4=*6S29Q3 *BD.?SI[/Q4;-D4"(9.36IH_CG4-&&T2^?$/X)>?
MUZUE2GYJ96@'H&C_ !,LM0PL^;20_P!_E/\ OK_$5NPW"3QAD965NA!R#7C\
M@W&K&F:U=Z(^ZVG>/_9ZJ?P/%3<#]W_^#?'_ ),R\3?]CI=?^D-A161_P;>>
M()/$G[#?BB:5$1T\<W<9V]&Q8:><_K17B8G^*SZ'"_PHG+_\'37_ "C[\'_]
ME"LO_3;J=>2_\&O?[%T4&@>*?CEJ]J3=7<C>'/#WFI@)"NUKN=2>NY]D0(P1
MY4PYW<?0O_!Q1\&]:_:%_9=^%7@CP]#Y^L^*/BGINGVP(.U"^GZD"[>BJ,LQ
M[*I-?8G[,_P&T;]F'X%>%_ /A^/9I'A;3XK&%MH#3%1\\K8XWR.6=O\ :<U]
M-+-/8Y##!P?O3D[^B?ZL^765^VSZ6+FO=A&-O7_@'<?ZM/\ "OR#_P""_P!^
MTQK?C;XVZ-\,] VR:-X4MEO]2^1'$U_,#M4A@1^ZAVX([SN#T%?IY^U1^T!I
M7[+_ ,!O$OCC6)(DM=!LVEC21B!<3G"PQ< GYY"J\ XR3CBOYO?'>OM\3?&^
ML^)=?\2V]]K.O7LM_>216TS>9+*Q=S\RK@9/ ],5X&"I7ESO9'OX^K:'(NI,
MC>+IX-JR&WBA!.!)#;*!^:BFBY\28_Y"L/\ X-8/_BZQAH^D.Z[M994R,D6;
M$@?3-*]EH"NP&IZL^#@,NF1X/YS@UZESQS;@U#Q-:DE=4M#N&"'U&U<?DSFE
MEM/$]JP!M;5B1D%(;9_U -8:VFA%?^0EK'_@LC_^/U+;:7X?N"5.KZE!@9W2
M:8N#[?+,34W+5C8BB\3716/^R;2X?G:/[/MW8]_[N33SI_B"6$>=X2\PJ3AO
M[(:,\X_N!16%_8VDX_Y#7_DF_P#C4\.EZ=&$D@\16D<BG_EK;W",OH051J!E
MJ6_:,"2X\*6>V,#S&"7,>0.N<2 #ZXJ$:MHDZD2:/<IDY4P7^TCV^9&'Z5:M
M[BY@826WBVUW@XREQ<Q,O_?2+^E6SJ/B&2  >);6\B8[L2ZHAVGITE((_*@#
M,C'A^Y)PNL6V1_>CGVM^29Y^E30V6DJP\C6[NW<J1NELRF#S@$H[<=/\*O@^
M)6N&#0:-?N4VG$=G,SC;V(RQ./3FF/!JZB,W'A*&XP2,K92IGH2/W9 _2@5B
M>UOM3@ 6V\76\JX!6.2YF0<=!B10O'N:D\K79_\ EVT#5$ZXC6TE;# ?W/G'
M7\ZRGNK"';]K\/36^Q]K>5<R19]CO#<]?\.*B4>'IU&Y=9M>H)#1W'T/1/R_
M6@2-.]MIK'G4_!CVP!!+Q+<6^=H^;[Q9?3H*HK-X>NB,#6;%L==T=S@Y_P"V
M?&/UJ;35L]/ .G>)[NQ)&[][;RP8;ISY3/V[\UH_;]:G&!K^BZL#L'^E3(Q;
MC(_X^%!XZ>M!0RSU:2Q7%AXO>->OE7*S1@_-W #H>QJPJZG<=;7PSK2+Q^[\
MC>P!](RDF.:A-AJEY'NF\+Z=?J=WSVL9X/&?]0X'Z50O(])AEVWNC:MICY/W
M)^%X! V.F3S_ +7>@"UJVGVE@N-2\,:KI38&7AE=$';.V56)&1_?J;3]2MK5
M<:;XGU+3U/'EW,+K&OU,;-G_ +Y'2H-)U2UT]/\ B7>*-6TP\_)+ \:#OC=$
M[9&?]G\*OK>:A<@#[7X7UP8QB00HY&,]76.3N>_:@"18[Z_4_N_"NO Y/!CA
ME;AL\ Q2$]?R%07UC;:'<"6[T3Q!X=F0G;/;RED'T#J"?^_G/ZTV\T9D@+WG
MA"[A09!EL9I G '=A(OH>/6F:5K5CILN-.U[Q!HI#<I)%NCZC@E'!/N-G.*
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MY_X">N:_6W%&*7UN8_JD#\F['_@DI\9X8E2"&*P P?)GU:"]M\\<E3M'7/\
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M\@C0?_!O%7[)TF/:CZW,/J<#\;6_X(Q?'0_\PG0?_!Q%36_X(P?'7MI&@_\
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M>*)"V02<N>IQG;]*'X;:O![DC[HH]C!E>WJ=SVV/]LG6"^UK;2^.I6VDX_\
M(M*_[9FK*.+33CZ?Z,__ ,=KQ&,_+CG'\SZFD-VOX>OK4^RCNA^WJ=SVP_MK
M:H#_ ,>%D0/^G=NO_?VFG]MC58QSIMC_ -^V_P#CE>(33 KZ56WF=@Q)\OM_
MM_\ UJGDBM+"^L5.Y[J/VXM39^-(LBF.I+C<?;YCQ4;?MR:PK?\ (%TXC_KH
M_P#C7A[2_-^' ':JMQ(T[;1E4'WG_H*:I1#V]3N>[M^W/K4A^31M+ 7J3(YS
M[=14<G[<GB _=TG1Q_O"0_\ LU>'H^Q,#Y5QP*@N+PB;8N6=APOH/4^@I>SB
M+ZS/:Y[==_MU^)86"II6BM(_W5VR_F?GZ4DG[=?B9&51IFA,V/FQ'+@?^/UX
MF/W1('^L;[S$=*(XEMXL;<Y)/7K1R0[#=>KW/;/^&Z/% /.EZ%Z?<E_^.5$?
MV\_$WF?\@O0]G<[)>?I\]>(W,Y8'J$[^_P#]:H0/, )Z<8'^-'LX]B/K-3N>
MY+^WGXH9L_V5H>WH/DE_^.4-^WOXFC4L^EZ"J@9)*RX'_C]>&23B(;F/"\DD
MXP*JM']JF66;*Q)RD1'WCZM_04_9Q#ZQ5[GO$7[?GBF7+_V1H218^7*2Y/N?
MGX%2V_[>?BJ4Y.DZ$%[#9+D^_P!^O"D)+;FZ#H,=?K3OM);\3Q1[*/8?UBIW
M/=)/V]O$Z#_D%:'GV27_ .+JG+_P4$\5R7"K%I&@[ ?G8QR_D/WE>%2NVIN4
MC8K /OOG[_\ LJ?YG\O4+=/L3RH,!@N,C^ 5/)':POK%3N>Y3?\ !0?Q8)@B
M:1X?/J3'-\H_[^5*?^"@?B@?\PG03_P"7C_R)7@,"?9D('!]^I/^-0WUT+:(
MDMTX]2Q]!3]G$/K%7N>_3?\ !0[Q-"I9M*\/A ,YV2__ !RH8_\ @HEXL\K<
M^B^'TR<@,DV<>_[SK7S]&KSL))5YZ+'G.W_Z],E)N>,[8\X./XO_ *U+ECV#
MZQ5[GT'%_P %$_%DQR-'\/;/79-S_P"1*5O^"B?BP'_D$>'O?]W-_P#'*^?7
M($>,#VJO-<"&/<3A1^M#A$/K%7N?H)^RS\:=0^.OP^O-6U*VL[6>WU%[-4M@
MP0JL<3Y.XDYRY_(45Q/_  3?E>7X':H77;_Q/)L#OC[/;]?>BN:6C/5HMN";
M/H&BBBI- HHHH ***^-/VQO^"V?PT_9<^*;?#O0-'\2_%;XDJ6C?0?"]OYYM
MI0I;RI9.</QRL:R,HSN KHPN%K8FI[*A%REY=N_IYF&(Q-+#T_:UY*,>[_+U
M\C[+HK\V-/\ ^#@C7_AKJ%O<?&K]ESXN?";PQ<RI NLSPW%Q&C,P!++/:6HP
M,@_(S-Z*3@'] _A%\7O#?QY^'&D^+O"&KVFN^'=<@%Q97MLQ*2KT/!P58$$%
M6 *D$$ BNG&93B\+%3KPM%Z7335^UTVK^1RX/-L)BI<E&?O6O9IIV[V:3MYG
M24445YQZ(444A.!0W978"T5\W?\ !.#_ (*#_P##P3PSX[U'_A$?^$2_X0GQ
M)+X?\O\ M7[?]M\M5;SL^3%LSG[N&^M?2-;XG#5</4]E65I:?BKK;R9E0KPK
M0YZ;NKM?--I_BF%%%%8&H4444 %%%!.* "BOSG\>_P#!?34]<^-/B'PM\%_V
M=OB'\:=.\*WIT_4M8TMYXXHY0Y0E4AM+@^62K;6D9-VW.,<U^BEI,T]K&[QF
M)W0,R$Y*$CD?A7=BLNQ&&IPJUXV4]M5?H]5>ZW6Z1Q8?,</7JSHT97<-]';M
MO:SVZ-DE%?.?_!3W]OW_ (=P_LZ6WC[_ (1+_A,_M.LP:3]@_M3^SMOFQROY
MGF>3+T\O&W;SNZ\5\N0?\%QOC_<PI)'^P;\89(Y%#*RS:D0P/((/]D]*VP>3
M8O%4O;48IQO:[E%:I)]6NZ,L=F^%PE14J\FI-<UE&3TNU?W4^J9^E]%?G/X'
M_P""T/QZ\5>-=(TR\_8;^+ND6FHWL-K/?32:CY=DCNJM*V=*4;5!+'+ 8'4=
M:^P_VR/VR/!7["WP5N?'7CNXO8M*CG2SMX;.V,]Q>W+ABD*#A06"-R[*HQRP
MJ<3E&+H3A3J1UF[))QDV]-/=;[KU*PF:X;$J<J4G:"NVU**2UU]Y+31W[=3U
M6BOGW_@H9^W</V#_ -DJ3XIKX6/BM4N;.W&F'4OL!(N& W>;Y4N-N>FSGU%>
MU_#_ ,5?\)UX"T36_(^R_P!LV$%]Y._?Y/FQJ^W=@9QNQG SCH*Y'AJJI>W:
M]WF<;^:2;7?9KR.A8JDZJHI^\X\W_;K;5_O3\S7HHKQ+X)?M1^+_ (H_M2_$
MCP%K'PF\2>$_#?@H1_V5XMO&F^P^)]Q&?(#6Z)\N>=DLG3M4TJ,ZG-R?95WT
MT5EUWW6BU-*M:--1<^K26[U=WT]'J]#VVBBBLC0**** "BBB@ HHHH ****
M"BBB@ HHI"<"ANRNP%HKY2_X)I?\%.?^'B/B'XG6'_"$?\(?_P *XU*'3_,_
MMC^T/[1\QKA=^/(B\O'D=,M][KQS]6UTXO"5L-4]C75I63Z/1I-;>31SX;%4
ML1!U*+NDVOG%M/?LTPHHHKF.@**** "BBB@ HHHH 0]*\N^)/_(W7 _V$_\
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M<*67T]J_.+5/@]K]A'NFTK4[4%L,K0N.?;(ZUGGP-?B,@VLT6.?G!!/YTT]
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M3VQZM_P60^%E_P#&'_@FA\6M(TQ'EO8M(&I1QH,F06LL=RZ@>Z1-61_P0_\
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M]S\T_P#@V@UVW\3_  4^-.IVC,UIJ'Q GNH69=I*/!&RDCMP175_'G_@K?\
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MO"&N?#;5_'49\<:S?7*+>Z2S",3B &\C9ML1W#$4O)_BZ5^X-?F9_P &R?\
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M_;S\7_'K_@HI\>/A'K&G>&[;PW\+Q =*N;.WF2^N-Y4'SW:5D;KQL1*^?_\
M@FZ?L7_!=[]K2VA"Q026J3-&B@*S^=;G=]<NQ_X$:T_^";G_ "FY_; _W;/_
M -"2LZF"PSJSJ0A:,L.JB6_+)NGM][MZFT<;B(TE2E-MPQ/LF]+RBE/>VFME
M?T.Y_;=_X*Y>(_AY^TE_PHWX"?#H_%CXKQVYFOQ),4T_124# 2[2N[ 9"^Z2
M)5W*-^YL#@?!7_!8+XY?LP?&+POX8_:X^#NB_#_1_&EW]ET_Q+H-V'LK-OE
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M#03NKT;L\[S(Y.6IK?+2NWSTTY-2V[D>H(<FD8T$X-,=S]*.MP%5V6I5.14
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M9%<+GTYS^E;+.0.>6[ =JBDF.W';T-3SMZ%*GU."U'PGX7NW8%/LA. ?GDB
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MU91@]!(W\@/ZUQ?%5L="MR'.2PRJW^N8\?Q ''\JS-;6Z>6T$4T&[SMXW0G
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M'/@O3O$>F:3::I+I+PZW;PPW!ECCC=F"Q2RKMQ*N#NSD'CU[[X]_\D+\9_\
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M <<T\AS"%)UI4W9*[VNEW<;\R7JC>.>X"554545V[=;-]E*W*WY7/2/VE?\
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MO\K7^1]I?ML>%++QQ^Q[\4=*U&"*XM+SPKJ2NDB!AD6TA4X/<$ CW K\X_\
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MXL[_ .*7_!*K2/$.MV5OI/\ 9[:=,W^DM,ABFM5R-SKM!5N.QQS[5XK\1O\
M@E_+H7BC5XM/T7Q%=6U@B(;NT17AN4*9R(PP9B!G( _G7TAX8_X*F^!M9C(U
M*VO=*VN$E<X8$]-PS@X_H:]6\&_M?_#7QX533_$^G[\9,<K;& /KG@=*3CIH
M7'&W=I'Y3>)_V*;[PY9^<EW=Z,LI81OJ,%Q9+GT_>KY9/T-9%W^REXUTSPU;
MW#+< 2J9()# KI=1X'S@KU7GAA7[16M]I/CRS/DW&GZE8MP0DB3+)[=QBHO%
M'POT'QS;62:KH^G7L.ES)/:)-;JPA=,%2H[ 8''0@8Z5D^:VC.B-2F]D?A/K
M?A+7_#MYY=SHU\=H +Q)PWT!YK$L]4+ZRD,MO>0E204>!N.O)XK]QO%O[)O@
MGQ9=M//I1MY'3:QM9W@4\=2@.PGZBO*-3_X)H>#]:\3/>3WMQ)8[,Q1FUA65
M)000PD55RN W&.2>N!BG[62*2I/J?DW;:K;7UP[0RJ'4-\@^5A^'K5WP_P"-
MO$=K*Z6&NZI;[.55;ERH_ G%?H%XY_X).+?W>IRVBZ9<1(^;7#-').A!++\P
M(5ONC[V#ST%?./C'_@GAJWP[MYKTZ7XMT2(L2SO:-<Q+V!W0E\#GJ1BA5[(/
M81GMJ>00_&KQG8ZE*DOB"YGD,*Y8JA"[#N4CCJ">M;>E_M0^,[-7-]J\VI6G
M!E@FCC'FK_=#;<KGVJ]!^R;XCFT^\U.UF34;;:8?M+ I"L@P=AR!AL$''7':
MN0U_X)^+=-TN]6?3%C= %79(6W<C@8'?FCVB;U(^KZ62/1--_;<TN\;9>Z)>
M*P.&:&1)47\\&EO/VI_"6NS%?LNHC$4@#>3C]X<!1E6Y[\U\WZKI>N:3^YN-
M(N8"!EMHSC\.M,\+WR-=YV2Q[&R2Z%5!7DY)KJ=;0YOJB1]Y^$_VD/ DVE6T
M'_"2QV+1QK&4NF:'9@ ?QC;V]:JVNI+K!FO+3489XKB5W5P%<,I8D'(]L5\0
M?;EUB=41UDCSDD?Q'/\ +K5&36KRSO9OL=S<6@9C\T,S1G]#65!\LKA4P[M9
M'W@MM=2OT@8=>I7_ !J/X83W,OBRT::RD58K::X#AU;YG=<=_1FKY9\*_&+Q
M3X;\-O/'K5U,L:,0L[>:O /7=FM&Q_:[\8Z#80/9MIB7!@6!I6MMVY5SSC=@
M'.>V*=2LI1LC.&'G>Y]G^,O%"67A>]D/F(1 0-T9&2>!SC'4UQ5GK-L8UQ*G
M '?FOGG2_P!M?Q/<:;-%KL=C?6O#R-%%Y4O# @#G;U'I74Z!^V'X3U>-A<6^
MIVS8QB2V$B_FN?Y4\+[JN*M&6ET>JI>JKR.>BC<2/UJU\*XOM'B"Q+<>3:/*
MZ^KN5&?R+5YCJOQN\'R^&[ITU"%#Y97!C=&Y&/[H]:ZSX'>,?#FH:_>/:^((
M-K00I IOEW-]YF*A\\<J/J*TQ%2\"(1?,KG[8_\ !%)MW[+&O^WBNX'_ ))V
M=%5_^"'^#^R=KY64SJ?%EP0Y(.?]#LO3BBN..Q[,/A1]D4444R@HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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MTKS:[C:)>/W@=QE6/N:?HNMWOAS4&;1[Z33Y=H+P_?B;@_>4Y!K*4/Y2^?\
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M*YB4H20R2J-C <8YX-/GZ,:@KW3/GJRT#7/#UQ%J?A[6[FWN^HGM9FM97 /
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M#\9E4L_$6G[FZ),_E'\-V!^M=7:Z_;:ZI^P75O< #F6)Q($_+OCM7YJ>//\
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M8ZH<SO\ $2]F4[0/D.FZ8!T]U-%:K89^E=%%%, HHHH **** "BBB@ HHHH
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M$MV3+!5/L.Y^K>C^*]-\1P^98WMG>IUW02K( ??!J34;R&SAWR,,= !_&3T
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M7Q"O5,4ZE60?V;IG&" 0,Y[45]9_\$]];N]>^"^I2WMS/=2IK,L8>9R[ ""
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M-+U'X?ZG'JOA;4KG1[\?*/+D94=2?NG!^[['(]JUHU#_ &K*C[X3GO\ ,?\
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M4MB91:*&LZ?!>Z2UM>0K- [JH;'*\@9]0?<>U7/!WQ-UKX,0I"P?7O##,?\
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M-_9PABUQ:CS%'3[R_>'Y'ZU'\._V_P#5O D\>D_$31YM13A8M0M@L5XH/<D
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "O(OBNV/&MQ_N)_P"@BO7:\B^*_P#R.]S_ +B?^@BM\/\
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M*Y=CYENO%<>C2B'6-.U#1I#_ ,_(;R6^D@./SJ>2UTWQ!"X-NEU"P^^'$@_
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M"@HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M/3_/6O0HU8SNT<=2#CN1:%-G5KW/($,>TY_O23'^06LW5)=]P_\ OL?U-/\
M"MW+!]K>XVM\R*)$&!M$:GD=N6/YU1$ZS@.#N#9(/J"<UO%+FN9ST1GWMD+O
M7+/8TD4CW$2ED/4+YDIW#H?N"KWB"^^Q7UD)Q\I#MYB@E01@<^G6J^GX?Q!"
M.ZS,V?I#C_VI4OB64SW*YS\D1X^I'^%2U[Y2V*GB'3[36--<2I%<1!2PW#/.
M,@@]CQU%<AX9T37_  AKYU/PUK%YI]]ILH^SO'.T-Q&=JL0DJD'!)^ZW![UL
MZG ]O92_9G\MIALV]48GCD=NO45)X3N7^RW+W2K&SW,F"#E&"DIU_P" CKZT
M2V!)-:GK_P (_P#@I5/'*ND_$G1S?SQ,%?5=.A2VU%/4RP\13=OF78>O+&OH
MOPKXGTGXL>'GO_!NM67B&U50T[6X(N;('_GM;N!(C?5=ON:_/[5])M]<NITN
M((Y@)G(SU7DC@CD<#J#7.1'Q%\.M4M]5\,WU\FJ6L@6TD@N6M[N)CQA95(R/
M4'\ZPEAHM7CHRX5IP\T?3W[2'CN'PO\ $KY=YM?!FAS:Q.#R9IYBP3.>K;;>
M0?\ ;6N=U7]A77-+\&Z??:??1W^J/9QR7]E.HB?SR"\FQ\[?OLW#8Z]:\F^+
MGQPGG_:!2#Q<NM2VVI^(K.76]1BM4E-W:VD:H=@RJ'>\$V1Q]]L#@U^@?@CQ
M+H7Q=\-G6?"&N6/B734'[[[+E+FS/3$]L^)8CP?O+@]C7/4J2BTUT-:44Y-2
MZ['YZ>(_"^H>&=6DL]1L[FQNE_Y8W"&-B/49Z_49'O7D_B(QVO[7=A<%1Y>I
MVD*9;^)FM<D_]]'MZ5^I_C/P5HWC726M=8T^TO;7!.)U_P!7[JW53[@@U^='
M[:OPN@^&O[6G@JPT1)!:S1V:6BSR9;+7)09=N<888)[5C7Q/-:ZZG52P]N:W
M8V_%,LEKH-SY;[E9?+VO_M$+UZ]_>N;M=1$<H$Q,)!_B^Z?8-TKK_BKX6U;P
M+&++6-/N;"9Y5 69<+( <Y5APPX[&N6*!XWW#=M0]:]&C9Q]UG!):ZGWW_P0
M]^+X_MWQ+X%NY<I>*+RV0GCYAM<#_@07_OJL+_@IA\(5\/\ BE[Y( D]I*0)
M,<^4Y&1G_>V\5\V?L(_%/_A2?[4_@_54D>&WN+U+"X0-\I69M@X[88H?PK])
M/^"F/PW3Q1X4CU"-04OK;!<#CYEX/Y\_A165II]S3"?#.EVU/RM\1W'DZ)<N
M2<B)L8'<C KCK),W*KW7I[5U/CG-MHLP8X?S5C/UW#(_0US.F$23%O3J?2BG
MH)K0+>V-S=3/MX#'&>/R/2N=\4M]FM=;=%;*0F-0>"6$98 8[Y?]:WM-R4:1
M3(F3G@;@/KWK U#-^RH<,;S4XER!U G4'_QU*)2%$]$TS2U@TJ&W*!TAC6,*
MW;'']*YSXEV;6UO9"WE8;YRVQOF4@*?QZD5U88A<[JY3XBW6=6M(P<;(6?\
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ K
MR#XMG_BMKC_=3_T$5Z_7C_Q9/_%=7(_V4_\ 0171AOC./&_PSF\ T%L4U_OX
MIC#][QFN^VIY7-9$H.#2!BW2E( %(./:@74<#@TY#D4SK2K)N;'-)HT4A_4T
MG04!LF@'-26(AI^<BHG!1?K2 D&BS)OW'/@5')&-G!S2D[6I&;>>M:&4M6-Q
M\N?3BF_4_A3F'R';W--'O021L2IW#J.F#7)>*?"*0W$NI0Q[D&7FMU& /<=]
MOJ!77MR?QI"AW#&1SFLJE-27F:TI\K/*IIFU&022D[<@<=3Z*!_0=*X3XM?"
MHZ1=R:GID(\_E[ZRB_B.!\P_Z: #D=_K7KGC#P[)H$[7UHK>5G! _P"78G.2
M/8^O;\C6';0>>@D=6(<[8HQUE;/;\:XN9QD=.A\Y:9>QM#OCRT,DCOW^7H#^
M%)&-[SG QYV.?IFO2_BU\(_[,NI-4TA%>3EKVSA'RN3@LR=MP[COVYZ^5V-U
M&("T;;HI)V8X_@Z9X_IVKKA6C-&-2GROR*M_#Y5[<<!H?)V[<<J&.#^'%=C\
M._C>_P .FLM*U59;WPR[;8YX@9+C13UW*.LD/<Q]5ZI_=/*,_F75RP^;[HXY
M[GFJ-Y&\6J6NWF,$LR_\!;D?C3FE+XC/S1]!_$'P+I_C?0X2\L4L4J>99:A:
MD2"0'H4;HP/<>OH>:\$\8> ;[P9?06=_'\_S/'*ARDG/53^/2M+X;_%>Z^$\
MJNL+:IX<N)#+=Z:C /&S=9K8GA).Y4_*^,'!PP]GO?[&^)O@^WN[>2+5M$U$
M;K>=5*E&7JI!^:.5>X."/H:XKRHOR.E6J+7<^8KR]D/B&&*8%@(RZR@84D<$
M8['#57N[C*N0<$@G\Z[+XF?#"\\"ZT9_FN=-E5ECN /N$XPCCL>#ST.?PKS^
MY1['3\G<\2Q<GJR?XBO0HS3U1RU$XLCAB671;C.59I\*1U!7:F?_ !VH+O56
MCLMMQM5=RHKCA6R1U]*DLYEG\/J5^[)<R,".A'F,1S]!5?5K&?4=+:TMK>:\
MNY@WEV\,9EDE8*2 J@$L>.PJME=D'%7/@N;P];Z?J?AIEL[[Y)3"K&--^-^^
M-EYC<'/(X/?'6O?_ ( _MT6OC&2+0?B"_P#9^L0D1?VX8=F[^[]LB48]O/3@
MX!8=6KE/$7P2UCP)9:?-XBET3P5IC*0DWB74X=++;5 ^2*4^<_T5":\]^)WB
M/X):+91W&O>--=UFY@8^2_AK2Q8!".,+>:@8593_ +,4@..]<=:K2:M49M"E
M4Y[P/NR[L7M(XF8QR17,8EMYH7$D5Q&?NO&ZY5E/8BJ4DWF3""-3+<./EC5=
MS8]2.N*^#['_ (*U:;\&_ \WAWX=>&H6T_SC*KZU<W7B)U?GYE3_ $2WA)Y+
M!-RDGOW\?^)7_!5SXJ>-A+$OB'4[*&3@Q6U\FF1*O4#RM/2%B,_WY'//6O)E
MB::>CN>G"A4>KC8_0'XT_LGZ9<1SZ\\UEX-O;EA)-?:G=Q6-O< # #>>R  #
MT]SU)-?/4V@>#-&,SZM\3_"]S\S-_P 4W97NOAATV^;#$+<'ZS<=Z^1O#EC\
M5OC5J O='TC7-4EG(;[98:2=SGL3=R R'ZES]:[K3/\ @F;\9OB3*LVKVEI;
MY/WM9U8W+*,?W58FB..J+^&C66#3_B21Z=XS^-'P&\+J?M&H>,-8N8T*D-J&
MGZ1'(&!&"L9N[C\T!K"OO^"A'A;F'PE\,M#NT#8$MQ::GX@9ATY$LEK%G_@!
M'M69JW_!([QKX2T#[>==L+KR&0RP:-:XEA0G!8,50G R??%8,_[(GAVSA7^T
M+_7]7F$HC9+V[.%.>?E4 C@'O0JN)J2LG84L/AZ:YI:E_6/^"@WQ&MD*Z:UO
MX6BW_P"JM4T+0Y$]O+CMWNA^#9]Z\R\=?M@>/_&S-#J'B=M0W<B/4=7U75E(
M]52XG\G\E%>I:;\"?#.A31R6FA:?(5)/EW"F8-CG^+//YUD?M17MMX6\!:#!
MI]G%IBFQU34YXH(Q%O \BUCSMZC+/BM)X*O:\YF<<5A_LP/(6TWX@>(3'<6C
MZDD=RI=)--\,Q6H;^'(F6'/7C._\:L)^RYXX\36,UQJFI:EB/_EG>^)XU>4D
M]HE8MQ[XKZ+TG3G\/?"C2-.=B[V]G:V[,Q.2550?Y$U59P5^\/4^@K6CE:DO
M>DR*F96^&*/FV3]CJZCV27$.AO+(<*L]W<3L< D\JI'0'O6E'^R^-&\#3:Z)
MM"BMX8TE,4%@\DF'=4!P^W'WUZU[WINB:AXL\2V]AI=G<ZCJ4J2-!:VT9DDE
M;Y1PH^O7H.]=E\?O@?-\'?V:-4O-9O=)@U6"T@B&GK([K J2QM+YMPBF&-P$
M(5"YRQ'3&*,1@:5.)=#'59S43Y2\$_"7_A+]"2^M]66 ;FCVK81K@@D'.#Z<
M_C6M>_ G58952WGU+4HB 2+-#YH[\*#R/IS[5I_L?_MN:;\!/A?KB:IH?@F[
MNH+G?I\TNFMJ.JW 8N3Y*2;X-Q9AB1PBQA,[96(4ZGPS_P""CWQM\-#SAX\M
M/[;U4&1+"728YDAYX18XW1%/3[L35R0J86UFM3>?UI/F+WP8_9TT2Z\1C_A.
MK'XL0Z/.H$5WH\ 5[4YP6>.:$[Q_LAD/7KTK]5?^"1W[,W@SX#^/KW7/ GBB
M^\5:-XEL/L%Y]IF436<JD21^; 422)L"0$,N/F!!-? WA+_@H[^UAX>6*XUG
M6_"VEVKQ[XVUW1;;3(IAW"_:)('8?[H)]J^I?V&/^"RS>(?B[H7ACQE_PA^M
MZWJES%;/J7AFPDCM;(N6 $LTI&7SM&V-67YC\_&*<94%-2AHS/GK-?O=MSUC
M_@I#^Q_HGQ+U^UMO$4%R^DW%^LN;:3RV5]I"G//7<<BODWQK_P $E?AW?V+C
M2+C6+"^4DI)<7'VB)SS@,F%XZ="#]:_2/_@HE;27_@%9;65XFCA$R31J&9&&
M2KJ"""0<$<'IT-?*7Q<_9S^,^H>%?^$B^#?C;PI\1M,,8<+=+F\)'7 A:*+.
M<C:4&,<U5>G&7O-;'4JD[J$.OG8_/WXO_L4:C\!(9+FZT.=X1(JQZO83RO#&
MI8!B=I!CR#CYQ^->;^&_@KX<UFZOGFM'/EE5#K<."25W$DYYZBOHO7O%G[8_
MB'Q%-ID?A_5M/PKJZC3]/@C../O3!N/QYY]ZY.#]DO\ :FOKIS#IUO923,TC
MI!J-C:22,1R3Y" =NOM64*M.W+R_@*I3JI^\[?,\T?\ 9_\ "LN=D$Z[.>+A
ML_SKF(?@/#>11R6UMJ+,X^ZLDO(]B.E7OVK;3XS_ +,CZ9'XU\9/I-_>LDT.
MGV_BN2YN[N-A\N(89-VPY!#@;3V8UYROQ"^*7BRP$T,OB>>!NGFZC>#S1C^Z
M\P./P[5K"I2EHHF;A66KD>W_  Y_84\=?%5P/#OA3QS(L?#32/);VGX3R%(O
M_'J]MB_X) _$67X>K<:Q?>#/"D<;$/J.H^*IC*.?NNT32Q>^!STSBO@^Z\5^
M/=+C\J>3Q)!(A",!]H^7WRLQ^M1/\5O&%HB+)XF\00A,A1+=WL84]> 9,"LJ
MOLG\4!T_;IZ21]YZ+_P3X\+Z'8?8+[XY_L^O-T,MQXAOVN0V,8+1W$8_3L*A
MG_X)%ZSXYU*23PE\</@MK,9XCMAJYDV#LH>592?Q)KX1N/C7XHN5"#Q$;Q3Q
MB>[>7..V)-U1)\8/$]D5^PMHNGWP;=%>1Z+8)<0ML9 Z7#1*ZL%D;!#\-M8?
M,JD<W)1W2-.;%+JON/MKQC_P1=_:"\/6#W4/A/P/XPMUR0^EM:W!<#Z*AKP#
MQ_\ LW>,OA/=R0^)/AI>Z(\9(8K)<VF!['>5_(50\%_M4_'_ ,)>%H!X?\??
M$M+?3V9HKFWU:ZOX$).X[H_.DB S_LCZU[Q\(/\ @OG\8?!<$6F?$>Q\+?%'
M1<!)X-9T_P"S7;#D'$@&,X]1^-5&E3O?4IXBHOBC?T_R9^F/_!M) 8/V$O%8
M-M>VN?'=X=ES=&Y;_D'Z=T8@''M]?6BO6?\ @C5^T3\//VGOV7=:\3?#?PA+
MX(TT^)[BVU+3FV[?MPM;1W="O!4QO",_[)HKTZ:2BDC/G4O>1]:T4458!111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 (:\<^+;D>/+GV2,_^.BO9"<5XS\76_P"*]NO^N<?_ *"*
MZ<+\1QX[^&<\N)'SGFG-%\O/7V-0JV!07/%>A8\<EZ+COZ4 ;OIUHA.\TYAD
M_P!*0!G(I$&_ZTW=VZ4_S!@ ?I0, VT\_2G$<<5&XWO22,4P/>I:*YM!VXX'
M--+\G]*9&V\\4I<;?>J9-V)(P'-0K< ^M+,WR]L>F:K$;SQTH&E<N)+D<4^,
MYX[FJD<FW\ZD28$XH$2'YJ!P:!TI6ZU2U$*ZB:-E8!E<%2#W!ZUQ'BSPT_AV
M5KBUW&VD.U6)R8,_P_\ UZ[8?*N?>FW,*7UE+#*,Q2J5=<]1]>Q]ZYJU%2U1
MO3J6]T\TB19$$K<(#A$'5SGM7E_QF^#KVD\VM:/"/.YDO=/@&%P>KH/[_&2/
MZU[#KWAY_"EWOB+- WRV\A_Y9C'*GT;W].E4"N(/,8D1 XSTW'KBO/J:3NCH
MAJN5GRAIUVLLEQ+"=T3S $#JI')_7.:=-)MU$8^;9 7SGKC_ /77J'QG^#C:
M;-)KFCPKYDK>?>V"<M+Q@R*.S8QQWQQ7DD)_M#7&6R2:]DN8&$5M;QF2:0\'
M"(N6+=?E SQTKLI5E->9SSA*.A1UIVM=&8P@=-Q4_P 6.?SK:\"^.-4^&VO_
M &O2"DR3(L=_I\Q_<:BHSC=UV2#^&0#*]\KE:S_B'/HOPR=;/QCXDTGPS?LF
M5T@"34M<E!! QIUL'G4>\WE*.["O*O''[;N@>$KZ1O#?A6.:ZQM%YXLN?M+J
M?;3+&0(/I<79/^QU%9UL52@K29<,-.>B1]O>"]7TGXPZ#<7/AU9]8@$AMKVP
MDBW7.FRXW&&X09'3D-]UAR#7SQ\9[[X;_#77;BWO/B)H=LR@^9I6F))KNIVK
M_P!SRK7<J=#CSI(\=SBOC3XF?M9^-_CE>?V)<:CXD\21R9\K0K2+R+''3Y=,
ML$2)N3@&42'U8UL_"G]A[XN?'B>:R2#3/"MG9Q+/+9ZC>1VDT$18KO\ L$&Z
M=.0<F1$ZC)&<UY*QLDW[)-GI?5KQM6:1Z+XF_;:\"> +?R="\(W6HRQL2MQX
MLU+9\^>2-/T]CP<GA[L>X[5YIXU_X*0_$?7;4V&DZS-X6L+@^7]CT&*/08I#
MR ,6N+F3KT>=L]Q7N-K_ ,$C?#OA/P]#<WFMZSXPU2) UQ90HNE6DOJBA&>9
MO0?O4)]NE&BZ=;?"-XX_!MG:>"YVVP2S:1";6]*>8A:-KKFZQP009?6M(0Q.
M(?O2LB9/#T>ESY5L?A9\1?&M_<7QT7Q';27P#37EQ$-*%R.VZXN-LLAZ=7-;
M5A^QI);3_:-8UK2;24D!EL+>34KKDA</+/Y:9YYVEQZ&OHK4+\WFIS>:9'F<
M*6:5BSR<MDDGD]LDUDZN!)=1KQ@SQY'MYBG^2G\JZX913M>;N<TLTFG:$;'G
MFG?LP^#-,NK9;NVU+79<EF74+YA$VWT2((0.G&X_6M/_ (1ZY^#VL6VM>&;#
M3K=+*9)HXK73X%N+9U8;61BN9.>JN2?<]*Z_7X!-<PX)4QJQ!Z,.1WJC=ZQY
M=L%NF1<R+MD PIYSSZ'BNVEA:4%I$YJN)JSWD?1O[/O[<?A7XZV=KIGB"XL/
M#7BEV$,=V&$6E:FXS\K#/^BS'^Z?W9(ZJ2%KUK5+6;2-3DLIHC#=Q@,R,OW%
M/0^A![8Z]N.:_/SQ-X#AG\/)?6>RUU*.!"6'W+G@?+(HZ_7J/6O8_P!D'X^_
M$;2HK3POJ?@KQ!XS\-QS+#%'86CR7>F[\X>UN#^[:$8Y25@BC^*/ SA4H)*\
M/N'3K2CI/5=^I]/VRBW5MI?).YW;JQQU/X<5P/Q=_9IT/XLV1G5?[,U82><M
MS$  QQCYQWX[_P Z]AG^&-Y#>'RY;7R"%9&FF2$J" <,I)PPZ'DC(.">M7+#
MX1ZO?']P^F3>OEWL9Q^M<GLY.S1VJI%:71^>?Q ^&'B#X2:HJ:Q:E8B3Y5U%
M\T,BCN3VXQ_7%>*_M+:9=_$3XKV7A[3+2ZO+M=,T;35@M(6FE7[5<R74AVJ"
M<;0"3CI7Z!?M>6OQK\,:%J%EX6^!EYXLL4#(;Z\NX+F)\9!:.T@E\QAZ$RJ>
M?NU^:'Q!\0_'[XQ?$.7PA_PC/BC3M3U-6SHD.EG2HKB."/!W01K'',$0##2F
M1@ HSZJIC'%<DEJ5#!<WO1T1[;\1]:T/P>JPZ_XI\/Z*4DWRV[3-=WJ  C8;
M>W61U;YA_K @]Z\@\8?M?^$M"F\K1-*U;76C !EU&9;-#Z_Z/ 978'U,T9]J
M\_U;]F7_ (5]*(_B+XPT71+B ,9-%T]QK>J XSM:"!TMH#STN)XS_LG%???[
M$'_!,?PAXL\ Q:M/X3NTBO(PUKJVJWL=U.N<,K1V+V0LF7!^\QG [,2,U-.M
MB*NE/1!*EAZ+2J:L^+/!G[4WQF\06&J)\/[>_P!%LIU(O[W2[9;*WB0\A9;Z
M0DQ*.P>5>_>L2ZLM$\0W;W_Q,^(.KZM<QQ%TCTG;K5QO/.Q;J6;R O(R5D..
M1@D8K]7O&/\ P28\ >.-,BBU_4?%FM7,&#!<7NK,ZVG^S#;J%MX5/<11(..,
M5\A_%W_@FUX-_9U^*=I9ZM=1W^GW_F7":MK4,TL-NB*20D2F0/ABB@;%[DGI
ME2PM67Q.YI&O12YHJQ\DQ>,?!@O#%X4^'][X@D4X675[^?4,^YAMO)B4^SM(
M*MR_$#XK/;O;:)877A:SD&UK;1+6'18W'HPMEBWCWD=C7MFFV5MID@MX6@$,
M PAB3RT8#N%P",CG!'>L^XF7RB^5/&[ZUO#*X_:9'U]WT1\YV/PN\4ZKJ*^?
MI5_--?NS.?/@C\XCDLQW,>.>2U>K? [X/^*?!_Q5\,ZHNCI:)IVH07#2OJ23
M&/9(K9 !)/3H/:O3/#/P^O?##Z?JFN_9/#6DI8MLO-<N8].CF=C&!Y?G%6EX
M#\1ASDXQ5O1_C;\/+#QMI5I;ZUJ.LW=Y>PVZ?V?8FWL][NJ@O)<^7)C_ '83
MG'!KFGAZ-.:U*]O.I!QMN?LS\0M8A^,'[)WA?Q#:MYT=[IB2(X;.X;!MY^A%
M?BIXF\3_ !9_9H_:?UW4OAQ?ZOIKQ7NY(M'90LZD[E$MNB[9#C@LP8GUS7ZI
M_P#!*;Q[_P +L_X)5>'%D?SY]$C;37)_@\EFA'Z(/SK\L?\ @KAX_P!>^"/Q
M8,,'B/4=+T34X68V$-W,JW$JM@_N5(23(V<MDC/85M7;C)\I.$Y:^'CS*^G7
MR/TT_8X_X*-V'C'P:+7]I/3=!\"^)XXU^S7=]+%:3ZBA7.YK;>9HS@YW,H7[
MW3H<O]OWX-?$S5? \FN_"SQ)H&H>"KJ W,<]C927ET".A41SQQ3\<A9?W?'(
M/%?SPW'[15W#>3M9V:O,(V ,C[?F/<+M(!X[$?6O=?V /^"XGQ5_8:\81>63
MJ7@VZ/\ IF@W0DDM9U)PS)OW%#[KQUX-<U&3E=5#KES4(JRYEVZ_(^COAS^T
M]X _98U"XU*_\+7?BOXF,T@U/Q-XDNQ!JEW,3\S$;KMT.,+@,O K@/BW^W9I
M7Q#U_P#M2V^'_A73[AF/F-$EZZW!/.6*20(Q]]N:^V?B'^S_ / 3_@O=\$I?
M&/PGU@>#_B=9PF:^TR*3RYTDQRLB CSHR>C=1SR.17X[_M _L@_$+]FKXWKX
M&\66CZ5J]S=K;V=Q=W8AM+O<X17$K%4V<\DD;><U#A*#LM#2FJ-6G[6C*ZZ]
MUZH]8\2_'PZSK(GO?#_A<K(28Q<V,%PD6?[HN9) ._;TKH$^-7CJ\T/[=:6\
M(L8 92]KIFE[%C'&%$,&0>G Y]J]M_92_P""*$&J:=_:7CGXC6VNV\T!1+3P
MS*&BAE./F-RQ(?'(V^7CGKQ6S\4?^"(UCI,4K^&/'-R))\I#:ZC9!GE/4()(
MF4]N3LP,$GI6+JS4O>)7LY*\3YUT'QY\2_']B]SI-_J]I&DA5F%])IX;'5-J
MHGT)QQ6K'_PN5;9$E\5Z@QV@-_Q4EV=O!&.HKJ]8_8C^/G[*FA236%I:>)=$
MA/FRP63KJ0C/&XB.15G49Z[#C^=<AIG[4,=I+]G\1^'+O3;A>&:S8X]SY4WS
M?E)^%:1G3D[$RC46JU,<^.?BC8W1E_X2K6U>)V021Z]=_+@XZYSVIFJ^./B1
M/&T\NJW.JE^2;B]6^S]?-5N?K6_X8UO2O$B1+INL6-Y*?F\B0FVN"3R<))C=
MU_@+5Z+\-OV2?'7QKU8KX>\.7XBB(6?4K@"RL;<XSAYY2L><?P@ECV!KT?J]
M-QO<XEB)J5I(_5+_ (-D=>U#Q#^P?XOEU*"TM[F/Q_>1[;>S@M01_9VFG++"
MB*6R3\Q&[@<X HKOO^"#GPSM_A3^R%XCTR'Q;X9\8R?\)C=R7-UH,S3VEK,+
M.R1K?S"J[W78"Q P"V.H-%)))61V1=U<^V:***8PHHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "O
M&?B]_P CY<_[D?\ Z"*]FKQOXM'_ (KRZ_ZYI_Z"*Z,-\9QX[^&<O1WHZ4=Z
M])L\<<)=GYTK3%FJ)Z7/%2 X-Q2&0BF2-Y:Y-0K,<_I0,MJ<OGGCGK0TF\5$
MDVY:50#0(<.**82>WZTGG8%.X#;CE?I4)XI\S;JB9MQH-8#@^*4 R#--I0/7
MI04_(LQ+A.M.5=HJ&)LQTY)<=\XI&)(XW+Q2CA:?:63W+C8"Q]JQ?B7XZT3X
M.>%)-=\6:SI7AC183L-[JERMM$S'HBYY=CSA4#,?2H4DG[QM&E-_"7[^R74;
M66&4 QR#:PS^1_#BN"\56'_""V=SJ%]/;0:3I\;22:E?3QVUA9)TWS32$1IC
MT8\GVXKYK^/G_!6P6T4EK\-M 00[3CQ)XL@DMX''/SVNFJ1<2CJ<W#1+P/D(
M)KXF\;?&[QC^V'\1([(/XJ^,?BBS</;6BVRW-II?7#16D06RM%Z_.XW>I->1
MC,524KPU9Z-'"SM[VQ]L?%#_ (*4> O"5O/_ ,(M;:A\1[O<0U_#-_96@A_>
M^F0R3=?^7:!P<</7R!\7_P!O'Q+KK7BOKEKX;LM6?:VE^$XFT&UNRQP!+<!F
MO[LG@$&55)_@&<5ZE\._^"4?C3QAJ5OJ'Q=\2'PI R+*=+TADOM06(]$-TP,
M$;=0%A24?[8YKZ0^#O[*WP\_9_G:[\'^&;73;_&W^U;EC>:M(.,[KJ3,@S@9
M5"JYZ+7GVQ%75>Z=?[F&C]YGYW>$?@!\1?&]B8XM&M?!NCWC[C_::_V9'+N(
M^;[,@:[E/S9W2( >[5ZQX#_8?\(Z'<(^MZCJOC"8?>C93I6G X&?W,,C3. <
MX+3C(QE!TKZA^,7P1E1CX@T:$(OG>;>V:<&?N98U_O9 W>O/>O,[2Z$2RW$/
MSQ,7=QWZGI[\"N_"X&B]9:LX,1BZNRT7D96AV\/@_P *W.G:!;VF@Z?+-&&L
M].A6T@GQMQYJQX\PC)P7R0:J:CK-UI$EMJ6DWESI6L:8_G6EU;MMDMY IY7L
MRMT*D%6!(((.*L6UTL^CQN#GS)Y#D=#@D?\ LM8^M6WVN6)=S*ZR+L=3R,NH
M(]Q@GBO8ITHQC:*/,E)R>I]/_"/XV67Q<>+3+E;?2_&21EY+*,%;?5@.LUKG
MHW!+0$[E_AW"LKXQ? ZU^(K?:[/;9ZQ;G=O'"W)'1)/3_>'(([U\[ZB1/?X+
M2Q7%N$DCDB<QO"X)*R1N.58=01R#7NWP/_:=MO'VHP>%O%TT5EXJDQ'8:K@1
M6NO=!LEQ\L5SRO/"R%N,,<5PU:#IKG@=%.NF^2IMW/!O$GAVYTO5;FWOK>>T
MN[<CY7'S+QU!Z$>XX-<_<SL-9M8I>ID7#@?*_P DA_ YQ7V9\5/A19>.[)K7
M4(7MM0M,K%.$Q+;MGH0>J^JG]#S7S'K?PAU[3/B(FD2Z?-/<2;GADB0M%.@
M 8-T'+'@\BMJ&(YU;J36HN#NMCE-4.[5.<C$2D_BQ_PK/\2Z<ECX3NM7U">V
MTW0[*-Y;J_O'V6\*E&4$GJW)Z*"2>*^I/@Y^PY_:5X+_ ,1/)MW#$3_*F!VQ
MR6Y]<#FOGS_@IQ^V?\*;/P/XB^ OAA7U/4II$A\2ZK;Z?%<VN@K"X=H5,Q6-
M[HE-@&2L>XL22NPZ5*RA&Y5*BY/0^*_CC_P4&O/'/B"P\&_!JVU":68K =2N
M+ 2WEZ^=J+:6S!MHZ$-("QXPJXKN-)\7_%OX5?#]=*^*/[0/BGPL(L"3PQH=
MR=0U_ (.R=A(D5J>2")9%<==C=*\6N_VE[3X6:7=Z'\*M#'AA+F(V]S?6+O+
MJ^I@K@K<:@0)65L',< AA;/*-U/E_P ,4\=?'CQ9;:5X0T"YU?68"T[QPQ1O
M:VL7'[V0L/)B13DF25@!GJ,5X;Q4YOW3U?JD$DIK0]S\7?$'Q;\7[AWT!/$Q
M\+Z7$((&GN_.N)@6):XO=0$<;7$A8L<J"J+A5VJM>]?L)?L'6'QIGU&^\2_%
MO7/#FH:1";^;3M*EEL[<6BJ"93J4DC(F,\JZ)D<JQYQYKX*^+,7[,'A1+?Q/
MXPA^)'B5L-_9VER8T:P Y\F2^*^9=8SREJJ1\,!<GI7C_P 6?VQ_%'QGL'T[
M[?%!X>LI&N8]$TF!;/2;5OO&06Z80R9_Y:2;Y23RQK-UDHV3;8.@ZKMRI+T/
ML+XX?M\Z=^Q/K8MO@W\7?B9XWUA7: VE[K1O-"LN@#^=*FZ9NN%3,9Z[SC!]
M0^#7_!?74_&'@Z2'XW?#GPIXMT*91:RW%G/''J%Q&_RR8MV^9DQG))13[U^3
MEOXSO6U%7FMKB%9T+12"+]Y,N<$H[ KC.02H_#M7U]_P13\"?"+X\?&SQD_Q
MN&D7'AS08;:6PN=>\51:5;Q3F23$1M]ZM=;PHSR$4*0P)913HUJDI\LMB:^%
MIT:?-'W7W6A^A5Y_P2+_ &>?VV/AIX?^(?P\T_Q-X&M-;DAOTTV[@ECMKJW#
M99#"74K'(.C(1E2"IP<GZ^\ ?!RQ^%7A.UT/0=.LM*TZT7Y8+2(K'N/WFY)/
M)[DD^];7@#]H;X??$C3C)X7\9^%]9M;5S;&33[Z*:*-AQLW*< CCBNQ,?GQ[
MDPP(ZCO7KTU"&D-F<,ZDZB3J.[2W.#F\+7!SNE?:3V&/Y5Q7Q+_9E\,_% ^=
MJUA&^HQA?)OUXN+<J=RE6]CS@Y'J#7M<FF++&<@@]SGFJ[Z"AC)/([Y%:-HE
M'X??M@_$#3/@E\9]>M]&^*'B/Q7I[7$L\\>D72V%E:7,MQ*SPFX!8-M0KGRX
MVRY893'/F]I^T[\5=9\,RV_A:36M-TMR6FOO/D6:?T+7=P6F/MY'EI_LU^BW
M_!9K]G#3/#WP,M/&O@GX26_BCQ;I.I#SFT:TAAN8K5HY&DE?"$N R1@8!8%O
M3-?B7\4_^"@'Q _M.73WM(O#2H<26,MKNN<@@_O#*,@\=E'TKR_9/GO.1ZMN
M:"E3B>V2? 'Q;XZUB]N;G7K!]2)1IYYFEEDE+;CAI6#.^,#G*]:U/AW^SOJ'
M@KXT>#H[C5/#*ZGJFMV=C:V\$\KW]XTTR1XBC<%G;#'OQZBOFSQ5_P %$O$U
MIHBIHM]#;7$T44EU.=/1)))M@5E7<64*,#! R>O%8G[%GQ'UJP_:X\!>.=5U
M:47>G^+-.O3>SR$LTGVF,Y)'S'C\A4^QI\UQQG44+2/WO_X-P/%MQ=?L^_%'
MP-?"6*ZT+6KAO)D&'CS@D%>Q#A\^X-?*?_!PO\&K>XL=+UV<S6L.G7C+)<10
M^88UD 7GT&X+^8KM/^#<3XQRQ?MM?$/0+F<$>)[::](S]^1)W'3W$V?PKU+_
M (+U^ I=8_9]\8P0/,DUO )RL.=TBI*KA<#K\T8JJTN9*2[&6"M&<X+92?W/
M7]3\&G\*6#D"UUZSD93N7[1$Z$@\=<$53/AC4+!91#)!<Q2GYC!<X+=3@\],
MGIBHKDK'%]HFM)DE;*[2@P0!CA>N0>^>XKJ?AG^SUXM^-J3OX=\&>)KRUB<D
MZG!;R"R7.,!Y#B-/7);%<:;W/3:74F^ 7QP\;_LE^/\ 3_%?@Z?4M$UG3W,D
M=Q;,4#'@X8<AAU!4C!'6OVB^ O[4/P;_ ."^?P2_X5S\4=-TSP_\7(K;=;LD
MBQB_D"\RVSGE9>Y0_P#CPK\H/ W[)E_X>N(U\7?$/PKX;M%8++'83OK]YC/.
M([0/!N _ADGCZ<D=:Z[3M6^%_P $_'%EK/AVX\<^*-8TB5;FR>Z^S:!NE7E&
M86LMP^ P!^6XC;W%7[>WNSV."I1DI^VPSM/\'ZGUC^RI\!?$O_!(G]J76?!G
MQ)\4:M:?"W6DEGTJZMM,2X@O;XE5C-P20\05 =WE;B<#"D<U^A.@^%XM6\,6
MOB?3-2TSQ3I.HHJV^L:1<"ZL7'4QHPY0YZA@&..1P /#/V-?V_O!'_!5_P"&
MW_"M/BSI6C:/\3(<S::+F)9;+5U0[D$9EW;I$XRK;L@ Y8YKXX_;N\"?%#]E
M+XE2>'-2U[4-*\+7<V;62WDEL;*0X R\%K&(]P '.SD5591Y4Q4;UI2G!)=U
MU3\O(_1[QS\2/#?P\@\SQ!K^B:%G[IU"^BMB_P!-[ G\*^4/VHOB9^SG\5;2
MX34=>AEU&9"K7NC:;-=G.#UVQF)CZ$L#_M<5\C^/_AEX>\&? ^S\77OQ0\/Z
MGXHUN01Z;X=\*6L4UU<'G=]IGWYAV#:7,D>/G4(9#O\ +^D/V7O^"0/]I^#-
M,\9_$S4_[;T_6(Q-8VVBZJ+BQ93_ ,]+J!BCN#D%(S\IZLU<G,Y7LC5+EM[V
MY\V_$3PE\#4\!1V^@7/Q#77EO ;S5+C3[86GE@E1'%9&X##)*Y=I>WW1TJEI
MGCZ'POX*NO#%KX]^)PTN^C>W>RAFL;='67Y'5$::?RRX8J=F,@D'J:_0^U_X
M)N?!73DX\"Z?=-C!:YN)YR?^^G->?_M=_LX_"GX#?L_Z]XMT[PIH>B:IH$"R
MZ9+;0;&DNGD6.,8YW89M_/&$/--2DO0I*$FKZL^YO^#;;7K+4/V'O%NE:5 ;
M;1_"WCR\T>QC)!(CCL-/=B2  2TDDC$X'+&BN._X-1I!+_P3L\8-MQ(WQ%OF
MD8MDNQT[3#GVXP/PHKU*7P(F6C/TXHHHK004444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M57E1HI,-^\3W[5><X6JDTFQOFZU+&RM-;+L+KT[>U?F#_P %_/\ @F]\;/\
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M&WP)J"?9"L6J(R_;KH6L"C8@9I)#]Q5SDGVK]5OV(/VK]-_;:_9F_:9TW3;
MH;'PE<21W5Q*LMS=QHERUOYK*J^8RK#CS-JDC!(!KLP^JDE_6QP5[JM24OYE
MK^!^0D7P)\2_M&?#/^S?#,.O^(+K3?$HC31;2V-TT,<T+MYBA%+#)B.XGY1@
M$UWOPX_8TL_ALAF\;>*M)TB>, #2M!V:UJ46#\RLZ.MK"2.#ON-Z_P!PD8K
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MJ>4VCUVFDV9/K7K6/+9&9<L*>DI+9!J"88? -2KPM#V LF7(P!4IX7/M4-J
MU3*OF@*,9/')  ZGD]A@$_0'TJ-$KL9$VZ:4)&I=V. H&2QKXE_;^_X*JV_P
MFDU;P1\*=0LKKQ/9*8]<\4#$MGX?)ROD6W!$UT3D9P0A& &(8+Y;_P %,/\
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MZ<S2EDBB4*6D.U IV@ ;FZT5W4G>"(/T(HHHK0 HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****  G%
M>"_'&7;\1KL'_GG'_P"@"O>6/\J\!^.4VWXEWH_Z9Q_^@"NK!_Q#DQGP'+H,
M*2V>.WK35EIHFVKZYI@E#UZIYNC'219?(_\ U5&RE#S4@F /)ILEQDJHY).
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M6J1N.<LL*Q[@?K&1GVKY=_:$U(GQM-Y=CY4FJ3)J,<\;G]\LR+)D@YY^?MV
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MR5"6UMS&A[?[1]ZV;91J-P?^>2-@?[1JK%;F)EM^!N^=]O?V^E;&F6JV\.%
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M"C_$J]E7:^\.&TG2><X'T_"BNNDDH)(PLUHS]5Z***T **** "BBB@ HHHH
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M6&\MDG17'W6 8$ CL:X[XQ_ '3?''AFX33Q_8^M0VC0V%Y:C:UH?X<+]SCD
MD97)P17I$MT ORCFJKN O+#)[YK)J^H/S/G?X)_M4ZGI>CZ5:^,Y 6%D]W?W
MWV.6 :6HD9$-V"NV$,%8[LA<JW  S7N&EWB^);]KV#5$GM3&JK#$59$)&[=N
M'.2K+WQC!'6O+_C18?#3X"VGB'Q?XUU\Z1I_B*Q;2[\7U^\L%VC%CM2(EF9@
M&8!4!P"0%ZUXC\7/VNK;X2:+IFF^%['39[/3-#CD@^RW,TES>V[*(X8 EJNV
MUF(3_63#8F#V!PI5$HW:,$G%VOH?9^HZU:>&M+EN[J:"VMX1OEEFD")&.Y+$
MX%<+\-OVB_"'QZU*\7P?XGT7Q/#I$GE7SZ5?0W:VDN#M27825)P2IZ':WI7Y
M;_\ !4CQ3XT\0ZOX>T,^-KB715LY+Z\TN368KB;2'C0;9+R2)?+:5V,N%W[.
M0BH""S?.NO\ [9OBCP1X#T>P\&MXAT2_M+>WN;_5Y]0D+:B\7R[(XHRL3VRF
M/"K,LIX894ELJ\I;![97Y6?M;^TE^VK\//V5M"N[GQ3X@TV/4+6$S1Z7'=1F
M]N/0+&6!Y/ )P.:\,C_X+,>#]%@U#4==\+^*-,T'[%:ZCINHK932QSQ3L$ G
M/E[8&#%2 22R2(XX8"OQ'U;Q;J'COQ%=:UJ]]++J&IW;W%]=7)+&61V+.6QD
MY.#^'3IBM;XM_M*^)OCQ!9VL]ZMGX<TI5ATO1+/=#8:<B +A8RQ.X\EG8EB2
M>>PNUB+R<M=C]'OVC_\ @NKX4\?>&];\*VND:IJ>B:];BUDN=/G6QD$;K^\2
M.652X)R5+F)2 "1S@U\2Z]^TM%'XJGU/1+&W\)+<1)'%9:%/);16D2(B"(,'
MW/G:"Q8DL22>N*\$67>QA2#/(7!^\#TR#Z5A>-KV7PY?VR2W"HCX=E1LXY(P
M?R/X8HI>X^;J15H>T7+-NQ]L?#__ (*!^ ?@=\!O&6L^&M0UW0?C!J$:6UOK
M$5FMW&+5;A)9U4ME(F95(8L"3L7%?#?QY_:/\;?%/6-8\8>(=:U2]G\2RO=W
M!74H5,BOP$V1J-JA=JXXX K'\3?%G0M.\(W]NEO+-)/YECB-?W<3[>01QDCG
MIQGJ>U<UX.T/0/&,,*C3)5L[%M]P[R8\M!T7IC?)\V /?C@5YN-G[2>IUX.B
MJ,?</5?A'\"-(C\-77C'QW$J^$K8!8+.&^E6Y\27"M@VD3L2%CC&#-, ?+5@
MJCS)$QP?[2?[3%U\1]:#74EOING:?;"TL;/3X/*LM)M4)V6UO%G$<:\G&222
M6<O(S,=7XD?$W4/C3XNBCNKG['I\-N8;9+9!'!:6\0PL,"_=55)/XECDL2Q\
MBU5-.?PEK=V]G/J":?%N@N//VQVOW@B%",-ERN>O>L%R\UD="YTKRW_(R_!U
MWIWCN#4[U]*M-EG*D2R[G)N"Q"C^>?PKL;/P=*MS;6UA]N+X$F(;OA IP&VR
MY&!S69\']!\[1[2.X9$DNM]_-M4+O<_*@P!CDL?88KTZRL-.\/6[Z@^':W41
M-\S%Y^2=HYZ9)X &<CK6%>I:5HG3"+MJ<;K/@'7$56NM.LKV)%!5+G2H91CG
MDM& ?QJ[X5\0:M=^(8(_LL>GW-L%-K=6DA53(O0,<Y5N!@_3-=?K4%_9Z=(X
M\U7FC,\:))Y[3CJJJ1TRP*D<$5P?Q0\=ZGX=\/2ZH-&EM&1"K_:N6@<G:H3]
M.HSDU="O/FL36I1DM3T'X@?#[2_VQ-!U:6^U)?#?Q&TNV^T'8I2#Q>D;+NAD
MC'"W:KE@V,/MP1NKP"W^-@^''BN:VCTR:"RAQ! LH:*5%7@G'8D\D'V':NZ^
M%6M:AXGT2T75[C_B?-_I$-P<1[E/*QN1_%P<-CH,&N^U/P+!^T)9Q6S-96WC
MC3X6M((]0@66UUF/G,)5O]5<C)VLI&__ 'L&NZ<8R\SFIMPT9D^$?B)I_C+3
MS+:7BR^8@W0LP!Q@#D 9SU_^O7IWPG\$Z_\ &?4['2?#]D]Y]GCWWLTX%K;:
M7;Y)>XNKA@%BA0$EG<], 9. ?-/A-_P3\ALHK/QC\0M0U7X>>$9)'-M8VQ\W
M6/$YC."NG1/@I%N5E:XFQ$AZ&1AL/2_'_P#;6LO#_A9?"FC6-OX;\,VTZR0>
M'[&9YXIY!]VYOYVP]Y.!_%)\J_P)&.*\V>"C?1FZQ,I>[%?,]=\3?%+P9^RJ
MMS-X0EM?$_BB,A!XXU*#?$'QACI-G("/E.0+J8,YY,:IG-?)?[2GQ1\27FLV
M</\ :*WFN^)XEU"<K=-=WV)#E6NI#EA*PPVTG.&!)YJCX_\ BU:VFGQ7=E?2
M:_XCU4L+=WC(2)#D!U7^$ ]NIQZ=6_#7X?3V5T]]J4\M[K%Z5^U74LA=TX'R
M!NN<8Y[ 8K6E3Y??EMV':RY8ZON?I%\3-(?7O^"0?[*4]Q+]IDTC6[_19I"<
M@%A)D?\ D']*^4_V3%N/$?PLT[15CO;N>VUFYM[6TBRYED+1, JC^(EP..3@
M"OK94?6/^"'GAU\Q^=X1^(;B'8>$$D%PHQWZRBOBK]DW5$?P_KD$UG-?01ZR
MY>&"V2YN'\U8]OEHTD8)WQ+_ !CIWR0=\7><7;KJ8X&/+1@NUU^+._\ B)HN
M@^,C';ZC;S7%P;=Y%>W&'MB.J]#N([KTKYC^*/P[>ZM&L[^">:Q#L+*YVD%0
M.=T1/3_:C_D>:^R_#MSXA\,:7=6E_;7_ (5UV_B:VO(?E%Q:QG@1$[ Z,1NW
M+G:00"#C->>>,?"=KX>U-!JZW.H:->RL79GPEN[*REF3 &[H<KC'8]:\K#5I
M0=STJD4]#YU^"VM76C7$WA'5V%R@MFDTZ<<K?6_5D4_WE&2.ZE6':O>_A_<Z
M9X@\.:S_ &I/ -9TFV$BF> S1:Q$=JQR2;<%2JYW/R,JI8')KR[XR?!:3X?Z
MO'J%@SW>FB7=9W:D!@_7*D'Y''Y''X5O^%?$%GK5I::OI5S$]]:R&&X@ECVK
M%*RY,3KT\N9<X'8A@#TKU935:-S@=-TI>16\46%MX7TV^NM2?PSI=GI<2S;Y
M6/F:FLDVQ?(4Y,Q 8MM& $C)/I7@6I^(+WQ]?2QV#2V&ELH621^'N"  <>@X
MX [=:[;XD_">Y\3>.AJ$LSW&G7\I^PP. BV>#AH6   9#U[D8/>O=/A'^S6N
MC?#&6\UG2-,\,O=[#I_B+6[YXHY8]P9Q;6:@S3D@;0T:-C)R1V7.J:TU93L]
M&?*5AING:"ICMHV:?.U2P^:0]/P&:]D^'7P9U#XHW4.D:?H][>7OV,O;C3K-
MIY3*?[P49*Y//MBO2+CPU\*OAY<?:+;1)/%NK&3='>:V[V>GJV?X+*%_.EZC
M!EG3..8N<5;\+>,?%?Q[\8Q^%=&OITFU&,QK8J_]GVCI&A/DK!"H+8"\(5.<
M?4U,ZZ:NQ*$NFQ^W?_!KA\(M9^"O_!/KQ7I&NI#;W[^/[VX-HE[%=-9 Z=IJ
M^6^QF\MLJ3Y;88!AD#(HK=_X-K?ATOPU_8*U^V36;+6EOO&=S>[[6V^SI:EM
M/TY3"5W-DJ5/S9Y!' Z45ZN&FI4HR1A45I-,_0BBO'?VV_VLO^&./A3I_B?^
MP/\ A(_MVK1Z7]F^W?8]F^&:7?O\N3./)QC'\6<\<]!^RO\ '?\ X:8^ VA>
M-_[*_L7^VOM'^A?:?M/D^5<2P_ZS8F[/E[ONC&['.,UU^RER>TMH<ZKP=3V2
M?O;GH5%%%9FH4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 -;K^%?./[0TFWXIWGO'$/\ QP5](5\W?M$M
MM^*-[QSY<7/_   5UX+^*<.8?P_F>(?M)?'_ $G]F?X*^(?&VM_-8Z!;&580
M0'NYB=L4"Y_B=RJ^V<]J_)K]ACX':U^W]^U=>^(?%LDEV=5N!KWB>?.%6W#
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M7"F-53"G,G4@[=J;<\ 5\9>"_P!G/X@?L\?M#^,$\+_8_@Y\%O#EA*)-:O\
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%(6YH "V*^/?^"A
M7Q:L_@+I7C#QA?%?(T'3/M85C@2N(P(T^K/M7\:^P&YYK\7O^#G']HC^SO$N
MB?"ZPN-LNN-#JFJA3\RP( L2$>A;>W_ %K?#2Y9.7D<>,@YP45W/D7_@E[\#
M+[]K_P#:^/BKQ+NU"&RO&\3ZS+*,K<3-(6@B/^](2V.FT$=J_95XBHSP,5\Q
M_P#!)S]GG_A1/[*>G7EU$L>M>+&75+K*_,L1 $*9Z\)SCU<U]1;0_)]*]+#P
MY87ZL\K$24IVCLAJ-N;@<58A^=<BHXG##CTZ5-#E$X["NBYE'?4D9>#Q]*BD
M3&<5*'W?>_2HI?E;]:.A<DK:$32;' /\JCD8LQQD5-(,T%2.GXT(R*^_CYNQ
MI\8W$G;CM2F/)X_R:>@*CH6--@))"K(=P7;SDX[8[U^?O[?OPO\ AU_PO6S\
M*^!K"/3OB%(3J/B>:U<0Z+H%@%#/+?H%8>>0R,1'L95*ABTDL:'WW]O;]M6?
M]EGPII^F^&[9M1^('BI'_L>)464:7 I(.HR(QP5#;A$'PK-'(YRD39Y3]A;]
ME2"P\,6?B76-][]OG&KS7-RSS3^);XR-*NH3O(-[0QLQ^SHP&YM]RXWO&(O&
MQK=:JJ$%?N^QZF$Y:5/VLVT^B[GS)J'QF^,W[#&I:)XA\4^'FU3PT\JS6@U9
M3)!EE*IME_UEM-L9MJ2@[=Q&,YKVO]GG_@J;:?%+]I^7Q!JFHZ/H'@JVT&+3
MM-T:\N<7TNKS31^9(S$B(HL;9+#<51$QM+LIM_\ !<K]IW_A0O[&[Z/;B3^T
M/B/>?\(_!Y2!W6$(TEPP!(^\%6+(Y E)'(%?GG^RC\'KCX:>*(O&>H7]_P#:
M_!.DC6=1>"6*R2QFN%'D0[VCDWR&&2'Y&0\W*JVT)(R^=7K+!S]C3>YUQH_6
M:?MIK5'Z=?M7_P#!<KPC\#I=8\,?#?3)O%GC:SF>RDN[L&/2M/DSA&W+EKAF
M)W!$*C:&8NN,'\=_'>O>)/VC/CUX@\1>+M<N=>'V^2;4]1>8-!>7>2HVG.WR
M]L8.%X$:*BX!2OO[P'HO[-/[;YECL]=M/ /CV>)XVN;:V6T E8!3)-9,QB=N
M6&^)E)W'Y!DBN!\:_P#!&/Q)\&/$WA:+Q/H3>+/A-HBW&K:IK_AN]\QKU84^
MT%'A($B2SM&(% W*JM'SE"QPQ#Q%DI:I]5L;8:6'6L5:79[GD^CK+\$/AY=:
MY'87(^(/Q*AETK0!Y+K=V&A-)Y3SA6)/VB^DS""H^9!,1Q.K5]^?!3PCH'_!
M*#]AV_\ $WB>U^V>)M0\JYU.WAEVRZMJDP*VVFQ.><+RN[^ZLTOK7CW_  3?
M^ 6H_M._M+:Y\8?%UA%!9>&[[[-IEAY?EP6]]$NR.!%(&R*Q@VQJ,?*Y7O":
M[%+%?^"G7[6B:A*B7OP@\ %X=+W2?)J+^84GN]@[W3QF*/</EM89&PK3(3V8
M*G[."DOBGMZ')B9^TFT_ACJ_7L>'?"+_ (*@?%W]A7QY>ZZFE:9XM^)WQRN+
M;Q%J6G75E+,EMIJ--%9P6PC=9 TF]A$"62.&.([6:4X_>W0OCMX>U#PCI5_?
MZE8Z.=2AC?R+V[BBE@D=0?*8%L;P<C /4&OP4U;QUX;_ &A?^"[EB=4N;:P\
M/^"F71["65E@6ZN;'YEB4DX/^FDJ !\VT#G->G?\%>-7N/!/Q:T3Q3J&I:K'
M::?I(MO#>BMJ!-CJ&K&20MJ;V^2H%C&5*NZDM-/#@;87K>I&,*3G)[&5*<E6
MY8+=;'Z1?M5_$V7XA?#G2/$%SX&A\8_#-9CJ3K)J[:;(?+_U%S-NVI]G.68*
MV01Y;'&-I\N^ G[+=O\ M,ZK<^*=8\4?#O4=$UZ5I[W0/"]Y]KM85\P,L7F0
MR*I8 $,P[ENN:_%#]J?_ (*#?%O]L^#3-$\>_$._U3PMH^P?9YUCL[%Y$QB6
M:.)%$CC!.6#$$X7'-?-4?Q@U/2_%D^M:%K.J6<TT+6J^3*T)N%[*<#*Y/./7
MN*\U5^:?,E8]*>'T7,]3^OG4_%G@G]F7X7";6M<TOPSX;TI")+S5]06*--Q)
M):65ADDD]3DUX1\&_P#@M%^S7\9_B7/X1T#XB:?%J<4@AM)+V"2QM-2..!;R
MRJJR>@ QGMD<U_,'K/B*]^(UI$\E_>SZIIZ*\'VN9F:=  2.3]X<'W&#VKF]
M1\8^3*9X[=?MUQ&42"W4@)CCD9^7&,="??BE4K26Q2HW6Y_2#IO_  4'\'?'
M;_@I1HVDZO!J\.A>%[J2Q\)3 I]BN-69);>:XF&-P9TD:*$YQACD O7O?[9_
M[(NF_MBV^AQ^+?$5WH7AKPR\U_-%:A8VGRJC<\CDJ@5!*"=I)#]1@@_A-_P3
M>_X*1>(/@OJ7A^UOOAII'Q4\<PSE- O)[M[;4;*4H^R+<0T;)&F\[G4; ,EO
MEJ3PU_P4%^.'@G4_%*:MX\\1^(D\=233>(]*N[II[-EFX>* '+P! VW]R5'(
M7&%-2\<DTEHT<T</*7/S:I_D?H-^T]^U+X[_ &^[3XB?#KX9QZ-#X \,2V;"
MXNY([>5[*%R7NWD=LBW+1,Q**2$5<C+$'X^^"GQ\E^"?BJUU[PAI]GJOB&P1
MX]/O+RU>4V=S+E1+%"2N7PYVAN-Q4E#TKS;PW^U!IT]O/>Z#>^(?#>I3PW%F
M8X\HMW:LH69//RH>(JV"&4'C&,XKR@?M)VGA3QK#::IH,GV*_#?9IK:Z99U8
M$\/&YV?-^'&.:ZH8Z%^4Y98&;5V>K_ME?L_^*/V6/B7IL'C.Z23Q#KVF1:[=
MPK=?:)K%YY9?DG;&/.RC,VTD9;J>M>6V>K2^)M8N1*\E[/ ?E=V_UH)&>_/7
M]?:O0/BEK>J_M._LVWGQ7.HM>KHVL:?X5VZNY:Y@C-NQC.?]6HC"!-K,Q)SG
M)QN\1^)'B2#X7Z+"]R)+"Z,9MR/-S)* <APH QDCKWR,<"LIXIQ?(SMI4>:/
M,B?4+^\TO5I5/RV,K$,I&6B;_'BM:PUZ;5K46\L1D15VQR$].O2O&/'?[7]]
MXETR"PT30+9;Y(O):]E4R2-UP0GW01P,G/X5G^!-=\0>*=1L+*'5/$4.J10N
MD\=G=.BW#;P%W,#C'+9/& O45HZB2N5[%MW1]#_"6]\-Z-\3)K7Q;%=IH[6[
M0R2Z<T;SVLC &.1H7!W  Y()4MQ@UU/BKX!Z?\ OAIJGC>2\TGQ?H&G,G]@6
MEBSM'XGOI=Q,EZX51;1P@$R1,5=ODBCP':5>4^ GP$\$>'CJ/C?Q[J.H-X(\
M*3JVI7=K,4N_$=\1NCTNT=B3E^2\ISY<*M(W+1JV)\.OVDKCPCXGU#_A%))5
M@NB1<Z)?(9[2]A))$6U\^: #@;L/W!SFN-Q51J2-%=.SV/GWQW\1=;^-CP7M
M_-=WVOW%S-/>3B/Y7W; BHHX"*H"A0 JJJ@# %0Z1\ ]:U&2+[0+N#S#E_-0
M(57U^8C/Y_C7UUK?PJTS]J#PIYOP?NT\,^+K1&>]\$3RB);P#[SV$F 'Z$F-
MOG&>_6O#=0T6^\':Z-/O?[2T_6=/(M]0@N 4?S ,LKJ1QS_*E*4K[&L'%K0Y
M1_@!I4LBFY&I^7G'[N^@\QQZX/\ D5@Z/\.M4T6/4K.T!@BOW&+@.DDL2H25
M'RD9)^7/T.*[C6?'D^C6FJ"W19;N:TD!(VJ(5QP><#V&.>>E;WP>\(IJ5O%&
ML2N]A!"J(ZY\QF.YLC!S_#UK-SG%:FJ46>97'B'XC>$AYAUBZOO*58T%[&TF
M8P, *74@   8W=^*=X7_ &F=8\,:E)=ZMHWVV21 C&&7RD51R,  @?ACI7O&
MJ?#6^L-?CM[F.WM!N".X(RSL R@!<<%2",^O.*T_A;^R#)\?O&M_;F72],\,
M^'H1=Z[XBU&/=:Z-!NQN?8 \DKG*10)EY9,*H W,)C4C)>]$':.MSS/X!_#G
MQ+^WI\6F&BV,>D^'_"UI]OU;4M2N!'INBIT:ZNIMN%4?PJ 78C:H9CBO;_BO
M\;_#GP9^&T_PX^%PO%TJ^(&M:O<)Y6I>,)U.XR7"_P#+&T5O]5: E5&'E+RG
MY,[XX?M Z'X4\#6_PN^%VFR^'_A_IUT+HV[[3?:]=#(_M#49$R))N?DC!*0K
M\J G=(WRSXLL?%NGZY+JUM<_:AC&V+)"CT*<,/RIZ-\L=$1[-OWZGW'K?@UH
MK+61?7?[V]1L22RN&3).<!>N/4'.XCDX.*Z>Q\7Z;X?MYKC462WL'.[SID:3
MR8U8Y"MNXX[X.3@8QFO ?"OQT26<6VJ6QLI\[?.#_N\\<D'IT JU<ZLWQ(U0
MVJ2/_P (_93@NRL<WLO95]1G_&LZF&=[R.B-?2QI6D]W\8O$MOJ^HVXATVV+
M)IEC@@/EB3*PZ=\D@ <  5ZO';?VA JY:6X50KLW'VH<?DX[>O K&\-V8TNU
MPT<>]L(%3[JJ.BCV_P#UULZ;IUQ-;L\B#R%.T-OZ'Z=?TK)U;.R)]FYZG5V-
M_%XYM[>TO&VZQG;;W^-QU*/H8I!D#SUQ\I)&_H3N%3>'O"N@WO@#6+GQ#%*M
MX()HM$6$('^VH\);S\/YB1^4SJO!!8^BFN>0I=2LLL3OY@#3(O'F8QAE/]_Z
M=<>N*TIY)TM[N]\_[7?" O93BV61]07!WH<CB8*#@@9;GHPK*K3YUS0+IRY'
MRR/I'_@F1X=DT_X%_M0Z4\2PRZGX',SC[LNZ(O@LO_ ^#T/Z5\NZ[X'UOQQ\
M0[?1?#3!-=U"2]L;20RI%L<^1*&+OA5P Q+$\8SVKZ3_ ."2?AOQ]X@T?XS>
M,=;TN32/"7B;X=:K::)]ND6.ZU-XE$C3)$Q\QXUV[3(!L#$+DFOFGX@7#P^-
M;QH4$KQSR7$:'H^ZU'&/? KOE&247+L<F'DFJL8_S?HCJ_"?PS^'G[) FU2^
M.E?$[QM\TDNI7SO+H5G.>2\:L U\RG(W-B(MV<#GA?BE\=?$?QH\8-J6L:O>
M22RQ^6+RY \U8AD+%!& $AC&,!%4*,<"O)=+^+EWXS\87::Q'.=5MWS:P!OE
M !^[M/'3N/05VJ%M1_>3O!%<,<LH4_*">F>G X_.L*JE>\C:'*MMR6PM+?25
M69/--S<Y!WL6>4[2.<\]:NV(A\F7"K]HV_*HA&Y<>AZ8_GFJMYITEY?6\D$K
M[X\EPJ_PXY _QI^I6YN26@>1IHU"K%(,-TSG)].*R]"];EK7].==&:."VFN=
M4,@=)DD4-%+U!'?CC\*Z70Y[[QAH,4T-M!:>(;&:26!< I)/MS/;,.A29#O4
M?[3@=*Y"&^VVCY>*WN-Y#'=EG'&>>V,?CQBMC2[:;2K4Z] ]U_9D:QQZA<+G
M]P%):*7). Z'D#J5W"G3D_A822:YD;>C6::ZD>KV1EM5F8^7&HS]F((#QL.[
M#D?3!'7)ZJTLX;DO!>W=I\D6VUCLX]DLI4$M(P))+9/\JP)M17PGJ3:G%#9S
M66O$I/&Q AL=2"?NI@<$+'," 3@C# ]J\1\:>+O'?C?Q \-\5\.'3PT+06,1
M$\8YW L,MT'."!67U9N3>R-%5T/Z2O\ @VK\]/V&O%J7'+Q^.[I0Q=69Q_9N
MF\MCH?; Z45Y_P#\&C?AZ/PW_P $W?&L4<DLWG?$F^F:21MQ<G2]*&<]^@]:
M*^BPR2I12."JVYML^A_^"V__ ":IX?\ ^QLMO_2.\KT+_@E?_P F&^!/^XA_
MZ<;JO/?^"V__ ":IX?\ ^QLMO_2.\KT+_@E?_P F&^!/^XA_Z<;JO7E_N:_Q
M?YGC0_Y&$O\ #^J/H.BBBO//5"BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "O/?CGXTU/P<FFG3KG[,;@R"3]V
MK[L;<?>!]37H5>5_M+?ZK2/K-_[)6M%)S29C7;5-M'%7/QO\40*2=5 4#))M
MX< ?]\U^$'QP\=ZG_P %+O\ @JE<7,]T;VTU'68M*M6"*@%C"0@8!0!_JT9C
M[FOU9_X*"_&%?@1^Q_XXU_S/*N5T][*V(.&\V;]TI'N Q;_@-?GM_P $%?@?
M_P )1\6_$'C>]C\S^QK?;$VW@33GKGUV@_G7;6A%M0BCS83EK*3O8_5#3M,A
MTNP@MH(UC@MXQ%$BC 55X  ^F*G\KYN![FI&3<F?7]:/*).<\UW' ,6#)/7G
ML*G1,+3 O^<59@17C';':@N$;D?E'/'\JC>/)YSGI5QAA*8T.3S2YC1QNK%)
M(CG'7^E2F/ 'I[59-MM%12+V_#ZTU8CD*^W97!?M'_M&:%^RU\+KSQ3K<(O2
MK?9M+TSS?+?6;PJ66!2,L$4?/*X!V(#_ !,H/6>,/&.E_#WPIJFNZW?Q:5HN
MBVSWM]>SJ62VA7&6  RS$E551R[,JCDU\ >%X?$W_!1_]J&#Q%J,,^D:%I<)
M70K1CO\ [!TSS"1.P^Z;F9UR"20\RE_FCME4\.,KN*]G3UD_P.G#45?GGLOQ
M-[]EWX Z[^UY\1?$'Q$^) -]_;EV6U-Y 8Q=J!A=.AC!/E0*NU91N)")'!GF
MXS]L^+/$^G^!O"5YJ6H75OI^GZ? TL\\T@CCMHE4LSG/95!.!Z<5)X0\':;X
M \,V6C:3:I8Z9IT*PV\*'/EJ/4GDD\DD\DDD\FOS\_X+Q_M<Q^ OAY;?#2QD
M;^T]:MS>WVU\$0!BL,7L991U["+_ &J48QPE%OK^;$Y2Q%9+^DCP7_@J3^U+
MX?\ VV_VL?"FF>#9X]>\%_#*P'DSB.1$U'5KPK^Z(<*0@5(0Q(! 6;T%<7^T
MY/'\+O!-MX#TXA];N-FN^*M0$162XNY%80I*.O[B.5V*G&)KB6,C"K63^P]\
M-[3X-^ K[Q?KL,5Q!X2MS>2),C%=3U65/W,!(^\%#(&4\LC76.5X\_\ &WCG
M5_$]AK.F-]@U+7OB=,L5S+<#S+WR_M,4^Y&)Q'YDR*S/R3&@Z#D_#8FK*K4<
MT?5X>DHQ4.B.6.AV'PF\>7WB".WO[FTFN!9::(@LD@B:%6DF88(618FP3@E7
MD./FB./MSP?_ ,%/O'O[!OCS2M*MM0%]:3VT-QJNBW\C"VTLS*)1"&<DI)'&
MP\Q00JOO7:"N*\ ^#NDZ;!+<^+=5@TN^\+_#Z5)K6"=0U]JE\(]UC;S@.0D<
M\L[W<B$9D6*X0DA5QYM:>(/#/C/XWZ1-\2-4NFT[7+FYO]:D)+&Y@VR.Y)5'
M?=+,FT.HR!\_/0]F$Q-1.US#&8:G*6VWWG[+Z/\ M?\ P3_;;^%^I^$]8\07
MWP1\2^.]+,LLUO/$MO>Q76=\L;\QYD_>(SJ4?+/_ !<UZ)X6^"^G_L-_ FX=
MK);GP_IL$NI3ZKH=J;JVN]B#"(D89TVQK'%%&V2%1%WL02?Q)^&W[.WQ5\/?
ML\-XP\&:)JUQX>U![O[5=1VWVR2.WA BZE"%6)9V7<,-O,V!^[./L?\ 8)_X
M*FZWX5\1/8^"+V31_#WA;PY)?ZQ8>,?$<=\-7D@" I9%85D,L@WL5VLH. $7
MC/LT*LN9SV=K+T/*K4DHJ/Q1O=][GRO^S!I-U\0/^"@6B^*]2TG^S;!?%*Z[
M>12EP-+M$GDOYY)L\_N4C;.<<H.I.#<_;;_:.OOVJOCGK'C.]L=3_P"$:CF7
M2[&WB=,V-F!(8( Q!7S9"KR/@'&9"!M;%?K)+XV_9E_;G^&FLZ/ FF_"+X@>
M/=,CCGE^S);R2JYCF0_*561'*QMD$%QCDBOS&_;]_P""<'QB_8S\*3_VM:W&
ML>";*66?3-9T8>;I8,H&Z1L9,<C>7&I\P X15!(Z>15J5FN67PWZ'LPIT>;G
MCO:UF?%GB>>#3K2"$AH[03%9K@R,V2I5CMPC<X)YP<'KW-<SH^J6LFK2:?>7
M448,9DF<ES'"%"@;0$<AR0,%E(Y' Y-2:T]R=1@FN&L[BP=V,D2R!F C!.W;
M]Y5(RN<#.?PK1^&W@O5?$7B8IH%G=RW&O/#ISV]MG;=%V150_P"\V %^Z<@5
MTP5DE'<YJCUYI'8_LO\ [)'CK]I3Q'=Z+\/;)9]4TZWFU7-Q<@0Q0Q*/G,F.
MNXA N,LQ4<#=CDO&^G7.G7MEKD>ER:;?ZDJBZM I5 6) DB)P&0E6QM) 964
M]*_=K_@G+_P3PT_]@[P/=:C?:M#>>*-8@,NNWGEA(+>%%W);QLQRL,0WLS\%
MV^8X554?$G[4GB[X>_M8?M/ZM\:4T K\,?AQ;6^GQSW1E5O&^IHA-K:I&3B*
MWXW-&@#+;QRNV))T4=%?"JG2YJFYQT,:ZDWRKW>YY/\ #CP\?V-?@''<7=PL
M'Q*\>Z;N<XWS^&M$F ?:1_RSN+P-&2,[Q T2' N&"^'R#5?CCXFM/"FE6U[J
M>I>(+V"*TM+=6+S.=XCBSP2"QR<\9!<]<U] >!?'-A%\7[#QQ\<_#NL:CX#^
M)']H:<VO[-L-C<N&B-TB8VNMNSN-H  8NR@[% ^M=1_:I^ 7_!)_PQ8^!-"T
MV3QUX]L=$?6--\0+86K"[N+U2\:27*L&C1T5#A P$07DDC/)A\O4_P!Y4E9%
MU\4X?NX*[/AOXK_L/^.O@!\;? ?@CQUH#Z9I_C&]M+>]O;6\CN%>U:>".<0N
MK-L*%\DD#DYY'6;_ (*Q_LM^"/@%^TIIO@CX<7M[-#H6@0)JTFH7BW$L=Z&>
M1 "%4*?+,);  ^88&<US7[1G[8'C/]ISQ))K?C+7EF\0VT2QPK:'[/;V4:*T
MHBBAP H#_P ><GC)8UX)\7?C5K/QK\97M]+>ZAKGB/5V4WFI7+EII< (NYCS
MP.!VY'H*.>%G"G'KN:PIU.=3G+IL>U_ S]M/6/AQ^S)XZ^&]EX7L_$UK\2[B
MVN8I)YMG]B7]NP:615P02RA6ZC&,YP"#Q]A\"KKXC^*;/_A-M5313=1)*USJ
M&8;2VB9=X<Y_>.I3YEV*S2'&U6R,\EX5^'FM_"WQ?IL<+6NJ^1=Q7M_#<J3;
M>9&^=I*MNV,#M/(9@6 '>OTR^$_P#\+?M2>(KK]H+X_^-?#GAOPM,%;3]$M+
M]8Y9((1Y$<*;3NCC7RR@6(&9R"/W?0Z*FZNB>PI5(T&]-&?GO#^S5!\3/C)!
MI&EK]J_MF_\ LFD6%K";=KL9PK"-N8DVC<S2<JH9FP,UZYXT\+>$_AKI_P#P
MB7A?[#96-@@DU_7T7?)?,,*X0GGR5)PJ_><L ?O[%]\_:I^&'PX_9%\7WWAG
MX.P>*=5^(GQ!B6VOKC53YVHZ5;7+ II=M#L0PE]P$BL-YRD1.//4?/O[3G[-
M_C;X$^-M5\&ZY801'3-)2_U&2&0RAVE-N%(<CYA&]RJ<<;B[<YKGJTI/W7JD
M;4:J;YD[76QP7[37Q@;QKX=L])T:W:S\'^&+MM,LK<2X5"23)([<%YI9"6DE
M.,D* %145?&-.\2:NVR6PEEGG212QC3 BV<HH;J0.O)KZ5\:?LW67BO_ ()U
M^$_B#I$6OO;6GBF]TOQ48;<R"%$MTEB<  E09))@78X)=<GY17SS\/O%/]B3
MW=S;P0_8"BVZ*6W$C=\N1@<G.<^U:0H.E&Q#J^T=SJ? _BR74]-T>[NKJYM=
M;(>2+4HV._>C?+YF/F)Z8<'<,=Z^BY?C5H7[2?ARU\-?%JWBTWQ;;IY>F>/+
M:'-Q*@&%2^"?+<1^DP!=><]Z^3[*1$T?1?-+*LC2ID+G:2PQGI7J7@?PW<0:
M3J,5]:7%YIT$0F*)G-L"1B16_@)]CSGI34TU:0G3UT*7Q8_89\>> =-O+N71
MKW5/#&F2P7-UXAM?WFFF"5U6-O.^Z=SLH49SST]/9OV,_P!FOQ5\6[/5+ZPD
MTS2/#-FAU"_UB^F:*"S0$Q(K; 6=VP<(HR<US'PV^,\WACPI=>%]3D3Q#X'U
M0+]JL+B0H(\G()QS#(&&Y7&5)'(/;[>_9-\1>$_&G@K3OAAX7T;PMX*^'>JW
M5M?>+?$JW#G68(+1#*?/,TI"[MI*[ ZN[?(JEB#->FY1]W<JG4LU"1Y+XK_9
M*T?Q3XZAT'0-1U^TT?1+=M6\9>)O$FF_8[;2[=_+$;):K^\)=MPAM\":5W"+
MP"5\7_:O_:LL'\+0>!? %I/I/@71I&EM+.1U:ZU&X(V/J%\Z<2W+C"C!V1IB
M.(! S2?2?_!7']J/P?'H<O@[X.VMS_P@OAU5GNS;1L_VZY(\G[7=28WNQW>4
MGF' 7Y45=S@_G%H45QKE^LDVZ2XW"ZFXSN?^!/P_PKFBE&-E\SMJ45&5W_7_
M  2UIUI=7=KM6!S=GYI)G!^=NI!/Z<8K0_LQ;@+*^VWO0I,A^;<N<]/3&.V?
M>I[>ZU2STVZN/+;R(CME ?:R.Q..,\XVGMQCFN:^)?BB[L=)L@MM*M[>.8K1
M"O);N2>X'L.III7V)N8&JZ19^-?$L^D3:>UW-#"99;N#:CVX'/S_ ,+<?0U1
MFMM6\ Z7;360BU#1[0%08DPZY.2S#KN[<UV/A;P__P (AH;Q!O-FN")+^=SE
MKE\\KGKM'\ZM7VFF+Q KVI:WDN<!HCRN",C<,8(_#O6G/TZ$M=35^&OQ*L/%
M_APW+-(WE#9Y(7YT<L/F)S]377-);VJ+-)).8"#\D!^^V"%)SQ@'&:\9UWX=
MRFX.H:+_ *#J7+M; GR;O&-VP],^HZUU_P (]<\0_'Z]L_!GA+P]?ZKXWNV,
M0LDPD5JJ<O<32-A8XD RSL0% )) YKGJ8?F?-#8M5(Q^,V/$WQ _X1_[-IUI
M;7.JZGJ,JQ6-E;*TMU=2%L*D:KSSG ZG.,5W.LV.H_ >2ST3XCRV-KX@OV+Z
MEIMH=W]BLW,:O(K8^T*,>8J_=RO.X$5T.C:]X9_8:TJ>W\'7]KXP^*.H1&VU
M7QZ,M%9!QAK71EQF-,94W7$DG/EA$PQ\LM]#E\0:F-1U;:TAD+Q6Y(Q$,YRW
MJ>.>WUIWA!<J,_>J/F>B/L[_ ()Y^*M7\8?M:ZK#K>I7&JW.M^ M5TJ.[GF:
M8W,"69$*JQ)P%5!\HP.XQDBOEKQ#$K^/$>3<$NM,A=MHY!-NRY'^>U?17_!+
M3Q$)?VS/"%JT5K&EY%=VC11-Q$SVLJ$IVP_=>QY'6O#O&FC_ -GSZ->OR'MA
M;-D=2HE'^%;2E[B9A0CRSG%=U^7_  #YR^+/P^.I1KJ%CD:G8CS(Y NW[9&.
M_P#O#O5_X?\ C27QMX;Q%':VD\,F)G922\O8D?AGVKN_&>BS:PD=S%(P:)=R
MJN 2V!P,]CD9&>17C?C$7/PUUDZ[ID?E6E[^ZO+=UR(9.X(^O(I0?M%R,ZIJ
MWO(])359A PN99TN1A6D \L2\]F]/SI-2\;VNE3B2_GDB67AIV<80C@ D=L5
MYQI7BC7?%ZXTRW8)]YKJX8K$K9^\!_3]*M:7X)T]M1W:E<S:]J$>/DY\F,G^
MZH]/R]J3II?$+FN:>I?$^X\1ZT\7AZQFUA4D!^U7*M'"0.,X!'%)'X.O/$K^
M?XAO9]2C=A_H%G)Y-HC ?*"!UQSVSUYKIDTWSM-F6UMPT<9"QPJ?+QGMM KV
M3P)^S]#X&TU=6\?W2>&-/OK=9;31FMO.UJ^7)^:.WX\M3VDEVJ>V:F]O@T&^
MS.,^$VKVSV4_A[5HU;3KJW**H;>PM\G'OOB8Y]=A/IQWWPXL-!N]3O+?QAKB
M:+>Z$H$EQ#I\M_>:XC%5A\F- $,FT$,TCHH(!)8M7+?$KXXII.F2:+X$TZ'P
M]'< VAAC(N;^[# AFN+@CY<K_P LX\+]<5A6D5WXN\%V<\SJ=2ABQ'+$Y'G*
M#MV%N""?NGT.P]ZF6JNR?A/Z$?\ @VXUO0=<_8@\7-X=LM0L["W\>7<#?;I8
MFGG<:=IQ,C+&-L>05&S+8Q]XYP"L;_@UZL+2Q_X)\>)6L8?(M[CQU=S!1&JC
M)T[30<8))P1@EB6R#GH**]G#?PHG+/XCUK_@MO\ \FJ>'_\ L;+;_P!([RO0
MO^"5_P#R8;X$_P"XA_Z<;JO/?^"V_P#R:IX?_P"QLMO_ $CO*]"_X)7_ /)A
MO@3_ +B'_IQNJ]>7^YK_ !?YGD0_Y&$O\/ZH^@Z***\\]4**** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *\M_:2
M&4T?_>F_]DKU*O+OVD6(ATD^C2_R2ML/_$1AB?X;/R6_X.$?BN^G_"3P=X*@
M?8^N:B]]. V.(@$3/L?-D/\ P 5ZS_P1Q^%"_#K]CNQNW@\FZ\0W4MTX(P0J
MGRU'YJU?%O\ P6=\8/\ %O\ X* V/AB#]];^%]/M;.1 >CR8E/\ Z4H/_P!5
M?JQ\#? D?PS^#7A?0(EV_P!E:;!;MZE@@W$_CFNZ'O5F^QY=FJ?J=*Z[$_SS
M0$S]>]/"_-TIZ)DGI^==OF8V5R +EZD@7YLC/''-(4VM[5-"@3M^5&R",;,D
M)R. /QJ.0Y]/>I,9/_UJ;MPQK/J:@O Q^55=3G2RL99IGCBBB0RR22R!(XE4
M;F=V/"J%!))X !)Z5:#;3^M?%G_!37]I<^(]47X+^'KYH#J$27?C*^C&]K*R
M(#QV*JI#M)*-DDB#ED:", ^<P&.(KJG#FZCA'FERL\G_ &JOVK;W]OKX@Z3X
M'\":9K+^!K/4 2&?8_BF\5W$,I/_ "SMQ$/,16YCWRR,I,2$?<_[/OP.LO@C
MX"ATV#RIK^X*SZA=I%Y8N9@H7Y5_AB10J1I_"B*.3DGS/]BC]CE?@G!)KVJV
M-G9:U>VZQ6EK&-SZ; ZHSB5LD/<L0$D<$K^Z&W&YL_1:+L7G'%887#N+]K4^
M)_EV"I-R]R/PKH<W\1O&^G?"WP)J_B+6+C[-I6AV<M]=R 9*11H6; [G X'<
MXK\ OVA_C/JO[7W[55WKM]9(\9NO[1^RJ<F0MMCL[0G/\(\M3P.69L<U^K7_
M  6L^/L'P?\ V/\ 5M,^5[KQ*5MMI/\ JK<.AFE.?1<(/]J9*_,3]ACP?:Z;
M?S^+]7MX)+'P[:OXGU&.<?NKA^8[.V?(QM=V(;N%=6'3->9G5=Z01Z>64DDZ
MC.^_:'/_  C.D>%?A'87$,=Q"$U'6[HQ[9)M1F4L QR3B)9#A<C;+++G&:\
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M<QS9Y8D^Q@L$ZDDY;'E8K%>RB^7?]3[C^&'PPTOX0?#?1O#&BP^3IFA6<=E
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M 08YF8<%.1B3KUW#^*NNMET+<U-'/ALSJM6G+YGW%_PN_5@,_9]._P"_;_\
MQ5,/QUU8'_CWT[_OA_\ XNO+KWXH:+INO66FS:G:I<W\/GVX:0!9E)P,'H<Y
MX]>U;I97Z=3^M<+P\5NCN6*J/:1V9^.NK@?\>^F_]^W_ /BZ:/CQJY;'V?3?
M^_;_ /Q=<@(]QYXQ2/'AJ/94^P_K-7N=FOQTU=F_X]]._P"_;_\ Q=!^.6L#
M_EVT[K_SS?\ ^+KC!\HY'>A6SQG&:7L8=@^LU>YV7_"]-7Q_Q[Z=_P!^W_\
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MI<Y?=J2WVZ%WXD^(/"NK>.8] ;6&@TC1K1K%;NT0233"$ 1A 7"@RR1QDY.
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M@=2524E5W;U]3T?6=,T_XA>#+JRD,-[I>M6;P.5(=)H98]IP>A!5OR-? ?\
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M!O"87>H7E(B&^@OC27_8;\':MXC\4^(F\5?M&?$,&YU74_M =M$B;ED1QPF
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M')&QX%2JZDW-C;>*ZT[?/G&_K_L+V'^/O4NEZK!K=[;6ERT$,^HR!$:5@N$
MZ#)ZD9_.JUU?SPW:6S!2&R9 ?[@_Q.!GTSUK=TK5+&U\/W>+BW74]0PJ0!U,
MEM%R/,*]1G!P>.2/2E4VL@I)7YF&O6\.J7[SZ=Y7V-,16XBP R \OQ@?,<MG
MT(]*R=.OWRSRJ&$N%&3@A1TZ^O7\:KW*W.FCRX68++P=HXV?Q?3CCVSWJS=Z
MQ!J<:6SC9)*=I8<;5ZL?RX_&KA'E5D1*7-+F((+"'5I'GC(4OC Z%4&<=?\
M@1SSU[4:'I-UJ=_#;FWFN([V5/,5=N1%D $9(&/FR>> QJ75]$8!5MCO$V5
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M*G>[B7[0^=I5?N.QP..O4]NPK#MM4N?#6Q;-_-MK@J)8V.4EC4AB''<9 '_
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M]6_:D^'VI?&JYL/CEX3M_AY\3O#;0QOXW\* 3V4X<I-";J,+AXRRQOB>,X9
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M&HBCB4*B*N%4#@ >U2+E3^E2E1L[ GL*ADDVKU'^37K)Z6.%=CS3]L#XH_\
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M]JW_  3X\,:1%X^T/0/B1-H3:+IL$A%W>)<Q%H(6-NN6)(1",KC)SR*_._\
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M-S_UYO\ ^AQU[#7CXI6J'T&#_AA1117,=04444 %%%% !1110 4444 %%%%
M!1110 4444 %>=_'H;DTWZR?^R5Z)7GGQY^YIOUD_P#9*UH_&C#$_P -GX2_
M\%BO!\GPR_;TU/5K<>4=>T[3O$$3 8^> FU;GZ[2?I7ZU_"/QM%\1_A=X?U^
M!MT6MZ;;WRG.>)(U;^M?!'_!?[X8M-I7P\\:11_+#<7>@7+#_IO'YMOGV$D3
M_B:]T_X([?%M?BA^Q%H-NTPFN_"]Q/H\_/("MYD7_D*6,?A713TJM=SS)^]1
M3[:'U%)_KJ3)*T3M@GBF2'Y>*[48I(^7/^"N_P"T WP1_8WUFQLY-FL^.I!X
M=M,'#"&52;QAW_X]UDB!'1[B,^E<=_P18^!I\(_ 6\\;WL*B\\7.MKIYV;2N
MG6K.JMC (\ZY>ZG]Q,AKYK_X*\>/M0_:@_;M\-?"GP_,[KHDMMH$.T97[?=O
M%)<R\'E45[93_=:SE]Z_4KX<> ]/^&/@31O#NDPBWTS0K&'3[6,?P11($4?D
MHKDI>_4<SIJ:0C'YFS+"&'2L+Q5\.M!\;)'_ &KHVFZBT)W1/<6R2-$P[JQ&
M5/N#70!<>],V@=172<TCQ#7OV)]+M;Y[WPCXF\7^!;QF+D:9J32VTC$DY>*;
M>".3P"*YOQ]/\;O@AX(UG4;KQ!X,\8Z)IEA//-=7%C)I^H0(D1)=4CWQR,,<
M+P6/%?2$OW:\/_X*#^*9/"G[+FO2Q,$EGEMH%8C(4>>C,2,C("JQ_"DX^[=$
MQC<_&+XN_&%/VJ_VA=.OY-&.BZ?H-K!X8:$L'(VW;M.YX!_U38.?[M?37_!(
M?X>Z)\8/VI?$_C'Q+>:6DGAFYBFTVWN+I%FN+UO-!9%)RRKA&R.C!,=Z^;]0
M6U@^)&IO O\ H>EQW]UC.[Y0&ME)]>;I#GVK[?\ ^"6_P4^%\/[#-CJ?Q TG
M2]3U/Q9K-[>VX>W,NI/&KBU41&+]\H)@)X(&6)S7SN'O.OSOH>SBGR4%"/4^
M>?\ @HMXD@U/]L/XX:Y#E#&-.\,1R*W23R5+.#["-U^C>]?H7_P2C^&7_"L?
MV%/ T;Q".ZU^WDUV<%<$_:G:6//TA,0^BU^47QZG;Q]J.HP:&KW7_"2>(;ZX
MLXK4_:&NT$B65M'&03YF)(2%()W>:#DYS7VSX*T[]M?XE>&=(T+PYI7AGX6>
M%M*LX;.UN-?D0WZPQ(J@/''YAS@8P47IVKJRZ3]K.=C'&M<D(IG0?M3D>._^
M"O7PET:;:;31[.&[)8\(\3SW@/YP(.W0UZG_ ,%2_CG!\(/V//$YLKE3J&M(
MNEP!3R?-R& (_P!@,/J:^,?A?^RGXR^/'_!1'7_ _P 2OB7J6J:MI^C/>7>M
M^')38RQ10OY"VT?RXC&9FW#!W;\G.37+_P#!2O\ 9N\*_LL>+?#_ ,/_  1-
MXBU75-66/5-2GU?46OKBZF!=+1!D +^\)R O/F#VJO:UO9RTTDR(QINI%OHO
M^">R_P#!*?\ :)^#W[(_[-M]>>,?B#X5T[Q%XJU66:6S%_'<7EM;VP^SPK+%
M$7>+<8Y)1O"_Z\5YQIW_  4;\&_#S]MOXB_$&[T/5?'GASQ0MSIFDQZ9;I,+
ME%%HJ,1*5'EE$<#KG=TP:^_?@K_P3L^$'PG\'Z);-\.?!=[J^GV<$-SJ-WI$
M-S<7$JHJO(7D4G+,"3]:^;O^",^EV>I?%_XVZO!;6\4'V^UBMDCC5(X4>2Y<
MA !A1\HX&. *Z/85?<A-[&'M(VE-+<^>I/VUO$>A?$9?$OP!^"'QR^'&HS2A
MKB+3+>2YTF^YYWV7DM%Z_<91Z#/-?5W@7_@HY+K>B1ZW\;OA!XZ^&FH.5AE\
M;:)H]SIJ.PXS=6\R;) .>)!(OH17VTJ94_7M535K&WN[.2"XBAE@D0I(CJ&5
MU/4,#P1BNAX37FO9F=W&/*MCX3_X*%> _'?[<_[--E'\&/$'A/XIZ;:Z@;Z_
M@TV86.H2VX5?+0VKL=SJ?,+$/A\KM5<'/BO[-^K_ +;_ ,)OA3I_A'P/\./A
M_!H^C-(-UY<VWVWS))&D=KA6O RREG;(*J1C&.*\H^+7B?/_  4-FA^&ES_P
MA-MJGB.#2+9M&;[+'"Y=8Y)55?E^\Z'&,')XK[6^*_QI^-?[+^L-_P +%\'?
M\+?\(6<:K#XRT. V.MVB;1D2^4[2 *<CYBRM@$CG:/)PDY^VE4=VCMQ5HTHT
MW96. M_$O_!0[5#\VC_#+3A[M:G_ -JM5NUMO^"@4SYEE^%Z#J=S6X'_ (Z#
M7L7P*_X*#^"?C&]M'X>\46>K23LJ+I>KO'IVK*_]U7^6WG;V/D'_ 'B:]U\/
M_$73/$=]]A662UU,)YC6-W$UO=!>F[RV +)GHZY4]F->U%PJ;2_S/)<FMT?F
M'^V+?_M#>//B=\*? GC^'P1;^+Y]0%WH<VDSF2.>5I517F#AE0(8ST4@C.0>
ME>V)\-?VV[AV:7QYX30D9.V6S&/_ "G&K?[8$J'_ (*N? [S^1';Q>6I/!+R
M7:Y'T)!_"OIW]H;XG6WP7^#GB'Q/=/&(M)LI)U#'"R.%^1,_[3%5_P"!"I4(
MQ4IMO0T]Z4HTUV7ZGYA_M3W?C_\ :D_:#\(?"J75XO$OB[2X#I4U\^R*V:_9
M7ENY"4B0!(4WQ[@G(A0X):OH?0/V<OVT?#FB6FGV'Q0\)6=E90);6T"FV\N"
M-%"JJC^S>@  KE_^"-'PJG\<_$KQC\4=65IKFU+:9:SR+R]U<;9KEAQU6/R$
MR/[S?A^BH8$<UG@<-[GM)O66IMBJ[<_9QMRQT/AC4?"?[9_PET'4O$.K>/\
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MN.5RIQC\J9,NU^X[U/"=R^]+-#N7GKQ2OK8+D"2#?SW'\J"Q)X/&?2AEVBF
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M% !1110 4444 %%%% !1110 4444 %>=_'G[NF_63_V2O1*\[^/'*:;]9?\
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M,BA1D[@NT[E.,9S\V!DDUS'Q5^)WB#P'<Z;XGLI6O=,U4;_/!\NXBYY7>O)
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M'X)7/QO\+_LG>(/BAX3^+&NVOA;PWJ":;#IUY,]S)J"-)$@:(.)$0_OE&/J
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M&<D9[8KP.RMM1MK2UDGAEC"2LAD*G#'IC\17;AI<T;]3&M'738[;X1_$/5_
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MV\77WB/XA2ZAJ]E;>&I4\-:=:V5R8+2]&U[J?[1&!^^Q]J@"[CP8AZ"O3_\
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M /QNT!_W1Z5W_P#P6G^(9\-_LG0Z1$["7Q%JD</RG)V1J7)P.3\VS\Q74_\
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M4X//)]<\*.:@U>UN+9"EN6+R?)&5ZQ]><9R .3P<?[-7+'Q:FG6+I*A"PKM
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MW-+<:WK&K-)J3%=AG+2&20E>@R,_2O)SZ"J.$HO8]?)9.$976AVWPZM)=-\
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M , >N._<<GD5:M9;7Q!=3.=HQ^ZB!(R.[8(_ <'^&JM_8'3;-B%$L,2Y" 9
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M'DS:+>H/?-O(*[Z6E+E>Z.*]ZG-W9^=7_!#:[5_C5XZBV<+H,9#=V OYL_\
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M?,I)0-@<?./I7[2?LR?#6V^$?[/7@[PY 9'&E:/;0M([[FE?RE+L3SU.>/3
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M\5^(/&7FZ#X7\+&W^T'Q%?R)M59(\C_1HRZ&5L]U4?,PKX0_98OO$7_!(_\
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M.=RB:VP?UK[(KPL9_$/ILN_@_,****Y3O"BBB@ HHHH **** "BBB@ HHHH
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MN/@Q^W#JGB+PA>):V/BFUL/$%H]J1Y,\<\( <!>/FEB=P1SDY!!YKV;]C_\
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M)%?# JR$8ZD!37$>#M$T?6O"VN6=Y87,VJ21PIITTEUY=O!''*OF$IC$C')
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ME$\/-W"\.;6Q\7?\%,?CEI?[4'Q<U#Q=HMG=6%EJUK:0Z>EPJ),R(RIN.TD
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M!&#7BRE)(]NSYKIGH$/PE^*GQ%U_6K[Q/X0\36FH:#X8,L4-QI<D*"*T#2L
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M/KTKU4S/K'P[M)IU\@^5AT*X$;1N"0,=./2NX/@3X40SOY?B7Q<F]@Y*:/$
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MA!"RX:TD2)K=B..X\J-\=0B^N*<J4JL'%Z&/M8TJJDM3V+_@BS^T#9_M2_\
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M(H [GBKUG"MO$HP  ,#CI5(7?VB^"B*3$0#Y*X&3D=_Q_.K4MWY=NSM@!1G
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M7AO1=+T+2[<8CM;"V2WB3M]U0!GW-=*_(J!^"15Q26Q&[N]?4ARACQBOF_\
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M1][C)P=M4/%GB'3[348=1MK'$JJ%+R0K-'"<\LH(Y//<'':IEL?#G@_1((_
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M8SQ3I24=9!*^Q^]/_!I;XC?Q-_P3D\:32)Y;Q_$B^B*@?*,:9I9X]N:*U/\
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M5MR@L>.1R/NGK4Z0BYO8A$[HTI.9(FVDJ%)/(Z@G YXI%^A:FNXA<*"/*VC
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MQ'PU.4^::].QXFPL?(S7S+_P5G^#,OQ;_8W\07-C!YNK^#GB\1V( Y)MB6E
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MI8DM=4TG'F+'U<+DXXZE,L1Z@N.X%? O[47PDN_&WPZAU32(K>4Z#FXN]-"
M3-&3\S1$8+*!C<HY&"<8Z?L=^T'\)%TN^N1DK:7$GVF"08S;N.>/H>?H37P3
M^T;\,+C0Y[Z^TK37\^.&6X^S1']QJ84@GR#V8Q%F*'G,;@9Q6E:/-&Z.*E)T
MY69\$VD.C:+)'<9FDT'5T66SGCE"O;%?]9$<@X8#<O(]^]?IY_P2V\0?#W]I
M#]E8_L^^,_#K/'+<7U_IMTNU[:="[R*T,FXM'/&"2,C!51R>17YD?%OX'O\
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ME1@XQ_SS([U4*'-L1/$*-K]6E]YP?QGTW4OAEXTL-.?7[75+'4=,L=4@OK2
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M;SPMI]P[VT]S9:->M<&TE823V18 ;X9/XX64@X/52,_=K"M370=&LS:_8?\
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M (\">+=<U#PQ:"0:K<V)NK[PU!(?E"G/[\JH8KD.5 S]U:]K^"7_  4G\3_
MG6YOA'^U+X<F:%T-HNKW-L)DNH2-N9QRD\9'.]<GUW'-?H7\,=:T'7_ NEW/
MAB[L[_0?LZ1V4UK/YT1C50  V3T  YY]:].#YWO\CSVZL=FK=['X._%KX4_&
M;XO_  <L/BKXY@UWQ'X6NHSHT.OW<\-S,H2>1%,FT";R_/+!&D! W  @$"OI
MK_@F#_P4LN?@K\!-.\&^)?AYK%QX(\(7$]GJ/BO3YEN5L))Y9KG-S;X#*A#,
M 026V<!F.*_5C6O@WH?QDT:3PKK>G6^HZ%K+QV]Y:,I5)8C(I8<<CUR.X!K\
M1?V1OB5!^R)^U0EKXOM+>[\$^,E'ACQA8WB"2VVLP\N=T88.R3!.>B/(.M>=
M4E&AB4NDCN5.I7PSD]7$_0KX[?\ !,7X/?M;Z-%XHT%(_#&I:M +NTUSPZRI
M%>*X#*[Q#]W(",'(PQ_O5X;+X"_:Q_8$A)T.['Q;\%6F<011FXGBC'K Q\U>
M.T+$>U?=_P 'O@;H/P2TJ?3_  P)M/\ #\S*]KI*R!K+3<9W"!<916/)7<5S
MR ,FNID@SVZFO6]E&]XZ'DQE-+7[CXE^"_\ P6U^'_B6]73/'>FZEX'UA#LF
M,L+S0HW0[A@2+]-A^M<#_P %?/A]X4_:3^"FD_%+P;JND^(?^$>_XEVK/83I
M,SZ?.V%9@IW+Y4S#[P&!*Y[5]H_'']D;X=?M&6#P>-/".CZVQ4JMQ+!LN8L_
MW9DQ(OX-7R!\7O\ @A)I9M[YOAGX^UOPRMW$T;Z9JB_;K.1&SF/>"L@0]/FW
MGZUSUZ=25-Q>IM0K0A44VK'C7PD^-O\ PT)_P2O\1^$]4D,WBKX0_N6+'YY+
M%%,MK-] L1C^L0/>O2OVP/\ @FOX8_:0_8[\.?$+P5X6AL?B?I^A6&K0MH\:
MP'6,0Q-+%(@PCOMW%6QNW #)S7PS\5M$\9_L'_&3Q1H.H+;"\ETV;PYKJKND
MM;^TN8ODG3[I/#!E8CY2",<$5]?_ +)__!;+P]\-?A-X8\-^,?"6KVUMIUE'
M9VVHV\P/VR./*;PD@4'&,':QY!KBPE15'*-9:Z?K_P  Z<31E&49T7H?'.N?
MM2^./ /AW6;CQ!8K*?'Y2_M;@EK9[-X?]$F^55!B>18V0[2I&&SWHM]9N]!^
M%FB_#/P[J5GX^D^(EG#]ITIH3))8SRDR0_9I"=V?G!;*J1(A!!'-'QG^,46H
M_M/^/O&6BVT7B7P_XTENY1IMPH@^RI<9WB(H7:&8 M\X!!+'@$YK9_X)\_!Z
MSTS]HN6T\1:;IS7#Z5_:>A2W.K!&AF<QJKJ8WVMY9R2AV'YV)Q@$>=*$%)I'
MIMS5.[W/M31/V01\3_V'=,^'FN:K;VWQ!@TM;NQMHF#PP/;#$,49)(*@!0[*
MV<NY-?$7['-QK=O\5_$7PRL=9D\)7OC^!H;"62%%$.IPL#]GE8C>@?8R?*1\
MX4$$9!^X_@U\2_"/@K7[[Q2+[5M3U+P+H<FF7-O?>9;_ &-8I70/)%M(>5PL
MA\P=%R/F+5\3?MSW-MK7QHM_&WAZ^T:TU;Q 5U^)-%G:6'3KV-SD+*0-Q=H]
M^<+EMYV@$5S5H._,BL*VX<DCE?B7X.O-.^/_ (XT[4[>:"[U&QMK^XC<;?,N
M /LEXP)^]^^WL2.#C(P*^5[RUN+'6)(TM9ID239''&=K(!P>G7D=Q7V/XSOX
M/B-X]^'7Q M-EIHGCT7'AR]C\WS&TR_=,3Q'))">=(LL>>B./3-?,7Q<TK_A
M'_B#>^<PM/M$AEP%^:-VY9?3@Y'X54'T1KT3.;$=QJ'BBVT_3[6>:]O9DM8(
MF!\V:1R%"A1R26('UK[[_9^\:?$[_@E!X=UBXU?P%'IEMJ4*1:E<:SHT^V:,
M XMDG_U94DMP&.3SCCC?_P""#W[/WPV^+_Q7?Q!K'A_Q;XB\4^')6O[2ZFL8
MU\/Z0RE3&3(&W27+$Y56 "[2<?Q#VO\ X.3]9U.R^%'PRTN+4%BT>]U*]FN[
M0/@W$L44?E.?4*'D'_ J]BE@K4U.^K/(^N>VQ#I12Y5^:/SD^$W[1]]X ^*6
MA?%3PK96MGJGA74S=I8,"\*0EF!@.>=NQBF<Y P>M?I/^U%_P4I^'W[6_P &
M/ 6BPW$^A:;KGB_2)/$B:A'M6WT^)OM$K C[\>^-%+?3(K4^*G_!.;PI\4?^
M"7W@34OA]H>G#Q+HGAZUUQ);2!1/KPDM4:[BD8#=([\LN<X9%'&:^4/^"6GP
ME^'/QN^*6K?"KQU<:YIFJZC&;WPMJ-A?>09E4%I;8QR*\9;:-X^7/RR#THIR
MJX>JJ<=MQ5/98F@Z\HN^VA^O?@/]K?X8_$F"/^Q/'7A:_P!_"QQZC'O'_ <Y
MKYP_X*X_"B>^\'>&?C!X3DCEU_X>W<<DLMLP9GMRXVGY3SMD./I*Q[5YA\8?
M^".G@CP.)YXOC%H6AC.Y5\1VEMNQWRZRQ_F$_"OF'XC>!H?@>)[;2_C'X3\1
MVA81RVOA_5KV1)4)&0Z+%Y1&.HWFMZV(G&/OHSH8:F_AO\T?LA^SG\9[#]HG
MX(Z!XOTYD:#6;5))%R&$<N,.GX,#^E?CK_P5J_8M_P"&8/VDKZ_TJV%IX6\9
M1R:EICJN(HI-V9[7'3Y&;<OHK@=JK?!S]MSQ-\ ;271?!GC'7+2TDO&N(+"T
MA@:&1GP2"LR.XY!QM3H?:O9_VA;_ /:"_;-^#6FZ5\1M!TGP1X*GF62VUSQ<
M8M!=YP"%>%IMDTN<G*00,67ZBN3'8BG5H7EI8Z\#A9TJED[WZ'Y[R:!%HEV\
MZ_Z+Y:;XKII/)"L>AR,@_3WKG?AYH8U[QAK,'G/(9K*54E7D;V(P<^^#5KQ_
M;/X+^.O]@WFHV>NPZ3<FUMY+-RUI>;>(G3S I$;<'+ ''45-X \/WGA_5I+:
M"V:77;:266[V3 0K;@!MJ$<9!R0>_%>!I:Z/<DFM#;^(6LW.O^&?#LLR@7 T
MB5IE'&',S*?U%3_!VUDO/BCKTL#*/+C"[MNX;=ZY'4=AUJ7QA81S&':7\N'3
M+5COX;$DH8Y]_FJ+X"[_ .U_$5UMW"1HPH]MS?X5E5=HL*>Z1ZOYPA1]PWE1
MRP_K61JWAVTU.)V? >1MR;22>/ITJ[%<>8QPA#,N0'[_ (T_RT0_+@,%W%=V
M>OO7G:]#I<3'TW0TTJW"1QA< 9QR3]:H:MX;CU35T:5W4I&0T8;AZWU!8Y(#
M\YPO2H;Z3<X(0@(<@MCGKQ3N0<YK,:QZ:]NX7[)(IC55D^8\8P!V&.:\\UN9
M_ .D2S(S6UA;,L4$,;Y))/WB?[Q/->G2:1%K&K_/+*BQH?E5\ 9ZUF^*_AU;
M:KI\49C+(EPLFUV]!Z5M3J6W6A+3Z&5X3^(:WWAZ)M45[:1XR^YAU7/&?0XY
MKHH]5A;2XY;=XY(W&0RMD$?A7(_&+PI)<^&?M-G(]H]CF9UQG>!T%</X+^*I
MLHTMI L7FN3Y6PX;G&%/8G\JM4>=<T0O9ZG]&O\ P:N7JZA^P#XXE2[^UJWQ
M'OOFWAO+_P")9I?R\=,>GO14?_!JA+ILW_!//QD^F>7Y3_$6]:0(N,2?V;I>
M0??&**^APJM1BCAJ_&S] /CIM_X1*W+P?: MVK8PORXCDYY( _\ KUY9I27U
MTIE\JV@\]@4W,TA6,<*-ORX..>O<UZI\<H3=>$[>$<":[57/HNQRWY@$?C7G
MJZM:QOM\U&92-PC^<C\%R:].C\)XF+2]KJ5=1TF>Z2*WEO)B)SEUB B^52">
MF6Y^4?>Z$UI6NB6[L"Z++@Y!D8N1^+9K-T_5VU&9[M+2XD\T[8F?]VH13@<'
MYN26;[O0BK%_/?SQ"W5[>U:Z;RP4#2,BGDL"< '&>QYQ5V.>ZMH7-$'VIY;@
M ;)FQ'_US7(7\^3_ ,"J[K%VEO8K$72(7)V,S-@!?XCD^W'U(JO!I;;>;FXV
MC&%!" 8_W<<?C4>FZ; ^K27/E)NA!@CD*Y8]W^;KUP.O\--:#3TLC1CU.$+M
M1GEP<?NT+#CWQC]:=HMU<:CJ%Q<+:X0$0PF20#('WC@;OXLCM]T5#JE^-,TN
M23,:$ !6<X4,>!D^F2*Y77?VA_#WA!/L5@[ZI/;1!MT?RPKU^9I3QR02=N[W
MJ7%O1%<ZCK)GHE_+>6VG.WVF*!VPB>6F2'8X7[V>Y]*P-?\ &OAWX?V8AU'4
MFEFA4 6^\R2M@8Y1?7W %>#>/?VE=9\50N\4KQV<&7V63&)%&#]Z8_,YP<?)
MZ]*\\TNYE^PA)9I+RZE/F31:<=D9D8Y;=,<'J3_$"0/NGI6\<+_,<]3'Q3M
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MWMU=2F235=(FD86]UO\ F!+JC98$.2!U#U^AOQ8_X+7?"KX>13?V;_:_B6X
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MRT=(KF+^Q[$W#-(NP2M,^W(&<\+$.H!^?I@\^5WTXM3J=VA\P1R*T?8.%B#
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MYVFGU)X'V=JLV\K'CGCGFJL0VM]?2I"VS!%0=,)=&7O,YS3;A$GMGBE59(I
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M+#4D#$#>H*LKKDX8$$9/4'%?>/\ P2]_X*^^$9/VD_&5S\1++2O ]M\33;W
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MW_#G@OP:\6?M6_\ !1#P)_:/A+5IK'P9<326C7<VK1Z59EE(#@PVW[YR"?\
MEH&/H>:]8^''_!"'4M>F^T_$?XJ7LOG-OGL?#=FMN').2&N9M[.??RQ7RG^Q
M)^U=KO\ P2[_ &G;S2_$\5[%X#\27*V_B'3@V[^S9CPE["O<8(/'WTXZJM?M
MMX:\36/BW0++5-,NH+[3M0@2XMKJ!PT5Q&XRKJ>X(-=V!I4:D.;=];F.,K8B
M,^7F:CTMH>$?!S_@E;\"/@?/'/IW@+3-6U&+#"^UPMJ=P6_O?OBRJ<C/RJ/:
MOH33M'M]-LDAMX(8(8AA(XD"J@]@.E*)=_2D0D/D&O4225D>=&,;\S6I\N_\
M%3/^"?T/[9'PD^W:);0KXY\.1,VGEOE&J0=7LY"?[W5&_A?'8FOB3_@C_P#\
M%$I_V0/B&?@S\1[FXL_!VIWS1:/=WN8V\/WN\J]M-N^Y&SY!!X1^>C''[#0R
M>8=K?F:_.W_@LS_P2S3XU:7??$[P+9*WB"&/S-?TR"/G5(U&/M,('6=% ##_
M ):*/[P&>*M2Y9^TC\ST:4XRC[.7R\C]'$G#1C#9SSGMCZU\T?\ !1'X&_\
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MAR1^9KY[G@62<9)63/R^:=C?02#^M=V'^$XJNDF7=/T)+YKF1':#YQ'A?ND
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M-IQ5@]FZN0Y9>TD+[F ZD>8O\5?LUHWB*VUS3+6^L;J.ZL[V)+B":-@R31N
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M['&G?&;]E:X\.>&K72?#EU=75M%%)9V44(1OM$3K]U0<DIMX(^_7XJ_L0_\
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M)UE1I/WA;+.A7&%4C=WX-?EU\6?"NGM'9:RLE["FGP&"98HED>2#' PQ'S9
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M1>30)@L3UR><8R^=V.]=5CS?:?B=58:I-;Z2;EDAT\7#&>2:^.W:7(PNW(/
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M:=^(?_!&;]JR_P#"'C/3;H^#=4O -0TQ'+0R*>%O+1CP3CD=-X&U@&''/_\
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MVW^6/QK4AV0L3C\_TJ?0T46W9]#)NO#UG9-;1B(S3WDRH\\\C2S,B#>V68Y
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MUO/$5[ A>&XNGQ;AS@IM)&T#.WF%&.<>^+QT?2M!MUN-0E6Y\G&)[^5=D9&
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M,O-.(_\ Z]!;=\V?PJLK!N^?K3M_.,]*DJ^I9#8!YYZT^)R#UQ44+A^]2%L
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M)->X>$/!&D> M&73=$TG3]&TY&9UMK"W2WA5F8LQ"( H+,23QR37Y=_LD?\
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MJ>X\F'6=,GP4;JJ3VQ)?:<<C$B=<L>E?*7Q_\57'CCX[:KJEZVZ\O9!<W6Q
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MOL/]@?\ X+(>"?V0OA=:^%+7X>6$$6[S;W4(;QH[O4IC]Z64E7+,<8 P%4
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M^.3$\S#'4@@_S:DT>#S=&8=<RF;CN H(_I6VEB='L6;([]6G]&>-0/KF0_\
MCK?I7CGQZL9'\4V5PJ0R>;;C<#E7'S$Y##IPP'X5[)H3&6]*1+O>*W:[FQ_
M@_=*3GU) KS?]I&R_LR&SF)"LLDT )[X52!^=*^HI+0\=L"/LZ-*"))7:11.
M=K L=WRR#ZC%7+6]DBU?<YW1K'M"W&%)W-DX<<'[J]?6K10+;^6P'RC8 >1P
M/_K5%I7A:2]U"2*VD*F:<0+&WSIDA1C:>GS$]#56ZBNEN?5'PF\_3/"%DBVY
M\Q=(294//FRON=E_#:<G_:%=.S:O.SBV2 '^RRL+D<&YYSG)SM&T?G4O@S3D
MM].TO"A?D,0'8+C_ .S%;^FV&8H. <.T8_$__95R-G4H=!-,M;IS=^8<Q-!$
M(3QD8^\3]<UV?PETII_&.EPR?,S:HI)!)X+!B,>@7 _"L'3K?;;*O&&B=>?8
M$?T%=]\ ;1+_ .)UAM(9H%-TZYZ9B91G]*A['13AJCZ2#EEW'O\ I3@0XP2*
MB5]L?UZT,IZ^M<G*ST3T;]EV,)\1;W'_ $#W'_D2*O>Z\&_9=/\ Q7UW_P!@
M]_\ T9%7O->/COXI[>7JU$****XSM"BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@!K=17DG[3XS!HO^]/U_P" 5ZXW;ZUY#^U*<0:)]9O_ &G6^&_BHY<;
M_!9Y0%X["D0X/KFH!(1S_DU(&)85[)X*NG<L"3#?TIV<Y-19XZTUY<=#UH-.
M=BE\M[^II-_[S@U%(V#VXZ>],>?8:#/6Y960YQFDD;<N,<U6%SS4T$GF?TH+
MY[*PKCCT]*KW$ <''K5MTS4?E@CKTH(U,B:T*MT^M120[E_K6O);?)Q4+6(8
M=:T4K&3I]CF_$&@P:YIEQ9W<$-U:74;130S('25&!!5AT(()!'O7YF_MT_L7
MI\!UDMI(I+KX8:O,1I]X5\R3PM<OP()">3;L2 C'IG:>Q/ZESV14G K#\8>#
M=.\;>'KS2=7LK>_TW4(F@N+:= \<R,,$$'C%88G#PKQY9;] I59T9\T3X _X
M)[_MRZC\._$EE\(?BA>C/RP>&M=FEREPIXCMI'/7(P(W/7&P\X)^E_VU?VMM
M*_9 ^$<FIN]O<^*]61X] TZ495V&0]U*O_/"(X '_+1\*. Q'Q%^VW^Q1<?L
M[3_8;U;C4OAWJ,I&AZR_SS^'YV.5M+ACUC).$<]<8)#8)YO]DGQOI7B?]M73
M;KX]ZY<:O-;0V]OX<O+_  ;&2YB CMTG)PJJJHOEC 4R<M\W7SOK%96PM3?O
MW1ZD:=&:>)BKV^SY^9]/_P#!/3]CG4[#59?B[\2%FO\ QWXD=[NTCOOGFT])
M?O32 _\ +>0'_@"G:,$D5]=^1M^E6U0!?E(/OG.?0YI3;DCM7MT8JG#EB>-*
M4I2YI;E9(<L./TJ_;IA!FG)#M7H,TI0A^/Q]JINY)/$VT=JECDV-]?>H%BR3
MS4@.%^G0T@)XY_FZ?6I89 !Z53'.:>&VOQZ\U#B6I/8THY M31RY&>,5F^:P
M/^>*MVS_ +L?J:AF\9)[%AOW@[4Y!L S4 E_>_AUJ96W?ATJ2B13Q][%2"0!
M1CM4 .6P:<6VX],T#NUL6(W.[/%.NK:.]B>.1(Y$D4JRN RL#P0155)AN[&I
M=^3[4K7+4[Z,^+OVHO\ @F-]EO\ 4/$7PPLM+N8+X%M3\&ZB,:=J/<M;M_RQ
MD]!P,G@K7YO_ !O_ &<=/\.>(M0D\(/JW@SQ3:JS7GAO6_\ 1YH"!DA'/RS1
MG'&>N."W6OWT!X_7Z5YQ^T+^RQX%_:@\._V?XQT*VU'RP?LUVG[F\LSZQS+A
MUY[9QZ@UR8C!4ZNKW+IUIT7>#NNQ^!?PF^*?AWQ%IV/''A2Z@@W%&U'2)##(
MG4$^604=>O\ #U':O6?"'@GQ#\&+]?''[/\ X_DUF-$+SZ?;$VFHVZ_Q*]ON
M82)[QEQZHN*^R_B3_P $EO&?POBG/P^U;0?'&ADECH?B:UC6XQR=JS!=K'G[
MV$;_ &J^6?B=^SII/PWUTW/BGP)\0/A#J\;<W^F$W6GL1W4$D%>/^>AKSW@Z
MM/6)UQS.E)^_IZGM7[/7_!=77XHH=+\>:);:I=KF*4F,6EQ(.A_V&/; 7/M6
MUH/[5O@U?BF?$'PYU&WT'6[*$S6=AJT@MEN(6?=/I4Q)PT+$!HI,9B?;V!S\
MLZC\%-#^*;ECX[\*ZW/(,&:[+Z==/[N'!B)QZ.IXZUXWXVT'Q%\+_B0_AF\M
M+7Q1I"A9+:83>8L2D<!+A"<$$8QN([UF\566DCI=/#U5='[/_$K]G3X2?\%,
M_A;8ZO?6(L]9DMP$NX"D>J:7(.#%*!D2!3_"V5(Y4\YKX;_:#_9X^.G[ .AF
M[L-5N_$OP\\,:M#';S)=_P"C0W+C[3$6MBY:-L1\MM*_*!OZ"O"/ WP_^+.D
MZ5)JG@8^,-+N(U$L-E,'F24Y'RI*F1T).2>U>F:G\>?VD/$7P:?PKXTTR75-
M%\2"*[N[2XOD2[A:'S(T#R%MT3;2?E)Y#+D&E7JPJ>\HVD:86FZ6D9Z/H?7?
M['__  6Z\&?%M[;1?B#"/!_B!B$^U!2;*<X RP/S1_\ CR^XK[@T77;'Q-I4
M-[IUU;7]E<)OBN()1)%(/56!(-?B;\:?#.A_'S0OMVH^"- \ ^(8T'_$QTK4
M;?RIG&.9+828WG'+1A22>0:X/]DW]K;XF_LA>)5?_A-4TK0UD/G6TMU'>QW&
M#WMR_< <\$"NVACNDSFJ8&,H\T='V/K/_@O[X=T_QO\ $SX<Z#;_ &RXUG4X
M) UN;N5H&9YHX+7;#NV!][2_, &/K7Z)^!/A?HWPS^#&C>$IQ'>:+H6EPZ43
MJ.V830QQB,"3=P<J.]?BK^T[_P %)-&^-_Q^TKX@)HUU?^(M 2S%@JN5LK>2
MUD:6.00X8Y\QBV"YY ZXK5L?BI^T]^WWJ;Q6-P^GZ8S;7N=1U*+3[>+/]WSG
M#'K_  *Q]:TC6I\[MU,*V#ORRJ.RBK'KW_!4S]D+X!>'?#>H>(?A_P")]/\
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MI>:C:RQZB.=OG#[,-S+GAQA\<%B.***/:S;O<?U:E>_*>LK^S9H2#BZU4?\
M;6/_ .(ILG[,^@3??N=4<>ADCQ_Z!111[6?</JM';E1T_@#X?6'PVT>6RT[S
>/)FG-PV_;DL553]T =%':BBBL[WW-HQ45RQV/__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
