Calamos Antetokounmpo Asset Management LLC

Item 5: Fees and Compensation

MUTUAL FUNDS (INCLUDING ETFs)

The investment advisory fees that we receive as an investment adviser to the U.S. Funds are
described in the registration statement and/or financial filings of the U.S. Funds, which are
available at Literature, Forms & Resources | Calamos Investments.

These, and other fees, are described in the registration statements, shareholder reports and
prospectus, which are also available online at the SEC’s website on EDGAR at
SEC.gov/EDGAR/Search-and-Access – for the Calamos Antetokounmpo Sustainable Equities
Trust (SEC file number: 811-23822) and for the Calamos Antetokounmpo Global Sustainable
Equities ETF (SEC file number: 811-22887).

Certain CGAM supervised persons, and related sales personnel, are also associated with Calamos
Financial Services LLC (“CFS”), an affiliated limited purpose broker-dealer, and in that capacity
engage in marketing or selling activities with respect to shares in the U.S. Funds. Supervised
persons and related sales personnel are compensated for successful marketing or selling activities
with respect to shares in the U.S. Funds. These compensation arrangements create potential
conflicts of interest that give CGAM and its supervised persons and related sales personnel an
incentive to recommend particular funds to potential investors based on the compensation received
rather than on a mutual fund investor’s need. The U.S. Funds’ website provides information
describing wholesaler compensation at the following link: Calamos.com.

Additionally, the U.S. Funds’ prospectuses provide additional details to help prospective investors
understand potential conflicts of interest associated with the compensation of the intermediaries
that sell fund shares.

CGAM does not receive revenue sharing payments from funds or other advisers.

Calamos Antetokounmpo Asset Management LLC
Form ADV Part 2A – Disclosure Brochure       PAGE 6                                  March 27, 2026

See also OTHER FEES OR EXPENSES provided below.

UNDERTAKING FOR COLLECTIVE INVESTMENTS

UCITS are not U.S. registered investment companies nor are they regulated by U.S. law and are
not available to U.S. residents. CGAM has entered into a discretionary investment management
agreement with CAL to provide advisory services to the UCITS funds. The investment
management fees that CGAM receives are described in the prospectus of the UCITS fund, which
is available online at Literature, Forms & Resources | Calamos Investments.

See also OTHER FEES OR EXPENSES below.

OTHER FEES OR EXPENSES

Open-end mutual funds, including ETFs, and UCITS are subject to various fees and expenses,
including administrative, custody and other fees that are borne by investors. These fees are
disclosed in the funds’ prospectus and financial filings. In addition, investors will also pay costs
such as brokerage commissions and equivalents, markups and markdowns, transaction fees,
custodial fees, transfer taxes, wire transfer fees, and other fees and taxes charged to brokerage
accounts and securities transactions, which are in addition to the advisory fee collected by CGAM.

In the case of the Calamos Antetokounmpo Global Sustainable Equites ETF, CGAM has agreed
to a unitary fee out of which CGAM pays substantially all expenses of the fund, including the cost
of transfer agency, custody, fund administration, legal, audit and other service and license fees,
except for distribution and service fees payable pursuant to a Rule 12b-1 plan, if any, acquired
fund fees and expenses, brokerage commissions and other expenses connected with the execution
of portfolio transactions, taxes, interest, and extraordinary expenses.

Any taxes incurred are in addition to the advisory fee collected by CGAM, and the purchases and
sales of the securities, including those resulting from reallocation or rebalancing of a client
account, may be taxable events.

COMPENSATION

Compensation for investment professionals employed by CAL, sub-adviser to the Clients, includes
a base salary and an annual discretionary cash bonus (driven by investment or portfolio, company
and individual performance). Senior level investment professionals are also eligible for
discretionary Long Term Incentive (“LTI”) awards based on individual and collective
performance; however, these awards are not guaranteed from year to year. The LTI program is a
Mutual Fund Incentive Award with awarded amounts deemed to be invested in one or more funds
managed, or selected, by such professional, and the value of the company, which vest and are paid
in installments over a three year period following the grant of such LTI award.

The compensation structure for CAL portfolio managers generally does not differentiate between
accounts managed by the portfolio managers, and is determined as described above, with the
exception of the compensation for the portfolio managers of the CAL Sustainable portfolio
management and analytical team (the “CAL Sustainable Investing team”), which serves as
portfolio management for the U.S. Funds and the UCITS. In addition to the compensation

Calamos Antetokounmpo Asset Management LLC
Form ADV Part 2A – Disclosure Brochure        PAGE 7                                  March 27, 2026

described above, the portfolio managers of the CAL Sustainable Team are eligible to receive a
percentage of the “Net Contribution Margin” which is defined as management fees received by
CAL with respect to the assets managed by the portfolio managers minus expenses.

To mitigate the conflict of preferentially allocating investment opportunities, CAL has in place
policies and procedures designed to allocate investment and trading opportunities among similarly
situated clients on a fair and equitable basis over time.

SUB-ADVISORY FEES

In accordance with the agreement(s) in place with CAL, as sub-adviser, CGAM pays a portion of
the advisory fees received to CAL, for its sub-advisory services, and CGAM retains the remainder
...

Item 7: Types of Clients

CGAM provides investment management services to:
   •   registered investment companies - open-end funds, including ETFs; and
   •   UCITS

Calamos Antetokounmpo Asset Management LLC
Form ADV Part 2A – Disclosure Brochure        PAGE 8                                  March 27, 2026