Calamos Nasdaq^® Equity & Income ETF

CANQ: Nasdaq

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Nasdaq^® Equity & Income ETF for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund invests in a combination of fixed-income securities and Nasdaq-100-oriented options with the intent to participate in the performance of Nasdaq-100 securities while potentially offering better downside protection.

Asset allocation and top 10 holdings exclude, if any, cash and equivalents.

www.calamos.com

Calamos Nasdaq^® Equity & Income ETF

CANQ: Nasdaq

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CANQTSRS  26

Calamos Antetokounmpo Global Sustainable Equities ETF

SROI: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Antetokounmpo Global Sustainable Equities ETF for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The multi-cap equity Fund employs an integrated, fundamental, and proprietary sustainable process to evaluate and select what we deem to be high-quality growth companies around the globe that have strong financial metrics and address nonfinancial risks related to governance, ecological impact, and human development.

Sector weightings and top 10 holdings exclude, if any, cash or cash equivalents. 

www.calamos.com

Calamos Antetokounmpo Global Sustainable Equities ETF

SROI: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | SROITSRS  26

Calamos Autocallable Income ETF

CAIE: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Autocallable Income ETF for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

Calamos Autocallable Income ETF seeks to generate high monthly income while reducing downside risk through exposure to a series of autocallable notes, each with similar terms and whose coupon payments and principal at maturity are tied to the MerQube US Large Cap Vol Advantage Autocallable Index—a benchmark optimized specifically for this autocallable strategy.

www.calamos.com

Calamos Autocallable Income ETF

CAIE: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CAIETSRS  26

Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - April

CBTA: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - April for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 52% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 80% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - April

CBTA: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBTATSRS  26

Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - July

CBTY: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - July for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 41% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 80% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - July

CBTY: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBTYTSRS  26

Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - October

CBTO: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - October for the period of October 7, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 42% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 80% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - October

CBTO: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBTOTSRS  26

Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - January

CBTJ: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - January for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 38% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund's strategy is its downside protection overlay. The Fund offers 80% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin 80 Series Structured Alt Protection ETF^® - January

CBTJ: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBTJTSRS  26

Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - April

CBXA: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - April for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 29% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 90% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - April

CBXA: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBXATSRS  26

Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - July

CBXY: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - July for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 25% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 90% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - July

CBXY: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBXYTSRS  26

Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - October

CBXO: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - October for the period of October 7, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 23% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 90% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - October

CBXO: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBXOTSRS  26

Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - January

CBXJ: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - January for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 22% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 90% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin 90 Series Structured Alt Protection ETF^® - January

CBXJ: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBXJTSRS  26

Calamos Bitcoin Structured Alt Protection ETF^® - January

CBOJ: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin Structured Alt Protection ETF^® - January for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 8% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 100% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin Structured Alt Protection ETF^® - January

CBOJ: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBOJTSRS  26

Calamos Bitcoin Structured Alt Protection ETF^® - April

CBOA: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin Structured Alt Protection ETF^® - April for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 11% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 100% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin Structured Alt Protection ETF^® - April

CBOA: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBOATSRS  26

Calamos Bitcoin Structured Alt Protection ETF^® - July

CBOY: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin Structured Alt Protection ETF^® - July for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 10% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 100% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin Structured Alt Protection ETF^® - July

CBOY: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBOYTSRS  26

Calamos Bitcoin Structured Alt Protection ETF^® - October

CBOO: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Bitcoin Structured Alt Protection ETF^® - October for the period of October 7, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund uses an options strategy on the Cboe Mini Bitcoin US ETF Index to access Bitcoin price performance up to an initial cap of around 8% based on the positive price return of the CME CF Bitcoin Reference Rate. A crucial benefit of the Fund’s strategy is its downside protection overlay. The Fund offers 100% protection of principal against losses accrued over a one-year outcome period (before fees and expenses).

www.calamos.com

Calamos Bitcoin Structured Alt Protection ETF^® - October

CBOO: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBOOTSRS  26

Calamos Russell 2000^® Structured Alt Protection ETF^® - January

CPRY: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Russell 2000^® Structured Alt Protection ETF^® - January for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund invests in a combination of FLEX^® Options on the iShares^® Russell 2000^® ETF (IWM) to create a predetermined risk-reward profile that seeks to deliver the upside of the reference asset to a cap, with 100% protection over the one-year outcome period. The FLEX Options package at the start of the period consists of three positions: a long call option (to establish the long position), a long at-the-money put option (to establish the protection), and a short out-of-the-money call option (to establish the upside cap and fund the protection level). All three options share the same underlying ETF (IWM), expiration date, and style (European). At the end of the outcome period, the Fund will reinitiate the positions for another one-year period.

www.calamos.com

Calamos Russell 2000^® Structured Alt Protection ETF^® - January

CPRY: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CPRYTSRS  26

Calamos Russell 2000^® Structured Alt Protection ETF^® - October

CPRO: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Russell 2000^® Structured Alt Protection ETF^® - October for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund invests in a combination of FLEX^® Options on the iShares^® Russell 2000^® ETF (IWM) to create a predetermined risk-reward profile that seeks to deliver the upside of the reference asset to a cap, with 100% protection over the one-year outcome period. The FLEX Options package at the start of the period consists of three positions: a long call option (to establish the long position), a long at-the-money put option (to establish the protection), and a short out-of-the-money call option (to establish the upside cap and fund the protection level). All three options share the same underlying ETF (IWM), expiration date, and style (European). At the end of the outcome period, the Fund will reinitiate the positions for another one-year period.

www.calamos.com

Calamos Russell 2000^® Structured Alt Protection ETF^® - October

CPRO: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CPROTSRS  26

Calamos CEF Income & Arbitrage ETF

CCEF: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos CEF Income & Arbitrage ETF for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund seeks to deliver high current income and long-term capital appreciation by investing in income-producing closed-end funds trading at attractive discounts, which commonly offer attractive yields.

Fund categories and top 10 holdings exclude, if any, cash or cash equivalents.

www.calamos.com

Calamos CEF Income & Arbitrage ETF

CCEF: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CCEFTSRS  26

Calamos Convertible Equity Alternative ETF

CVRT: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Convertible Equity Alternative ETF for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund seeks to deliver total returns through capital appreciation and current income by investing primarily in a portfolio of US convertible securities exhibiting a high level of equity sensitivity.

Sector weightings and top 10 holdings exclude, if any, cash or cash equivalents.

www.calamos.com

Calamos Convertible Equity Alternative ETF

CVRT: NYSE Arca, Inc.

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CVRTTSRS  26

Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF^®

CBTL: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF^® for the period of October 14, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund provides systematic exposure to 80% downside protection ETFs by allocating equally across all four Calamos Bitcoin 80 Series Structured Alt Protection ETFs. For continuous laddered and differentiated exposure, each ETF initiates its rolling one-year outcome period in a different quarter and seeks to match spot bitcoin's price return up to a predetermined cap while protecting against 80% of losses over the period (before fees and expenses).

www.calamos.com

Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF^®

CBTL: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBTLTSRS  26

Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF^®

CBXL: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF^® for the period of October 14, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.

WHAT DID THE FUND INVEST IN?

The Fund provides systematic exposure to 90% downside protection ETFs by allocating equally across all four Calamos Bitcoin 90 Series Structured Alt Protection ETFs. For continuous laddered and differentiated exposure, each ETF initiates its rolling one-year outcome period in a different quarter and seeks to match spot bitcoin's price return up to a predetermined cap while protecting against 90% of losses over the period (before fees and expenses).

www.calamos.com

Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF^®

CBXL: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, please visit www.calamos.com/resources. You can also request information by contacting us at 866-363-9219.

©2026 Calamos Investments LLC. All Rights Reserved. Calamos^® and Calamos Investments^® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC | 2020 Calamos Court | Naperville, IL 60563 | 866-363-9219 | www.calamos.com | CBXLTSRS  26

Calamos Laddered Bitcoin Structured Alt Protection ETF^®

CBOL: Cboe BZX Exchange, Inc

Semi-Annual Shareholder Report  - January 31, 2026

This semi-annual shareholder report contains important information about the Calamos Laddered Bitcoin Structured Alt Protection ETF^® for the period of October 14, 2025 to January 31, 2026. You can find additional information about the Fund at www.calamos.com/resources. You can also request this information by contacting us at 866-363-9219.