Calamos Laddered Bitcoin Structured Alt Protection ETF (Cboe BZX: CBOL) is an actively managed exchange-traded fund of funds of Calamos ETF Trust that provides U.S. investors with laddered, risk-managed exposure to the price performance of spot bitcoin, as measured by the CME CF Bitcoin Reference Rate – New York Variant (BRRNY), subject to defined upside caps and protection parameters. The Fund invests approximately equally in four Calamos Bitcoin Structured Alt Protection ETFs with staggered quarterly outcome periods, providing a continuously refreshed portfolio designed to capture positive bitcoin price returns up to each underlying fund’s applicable cap while seeking 100% downside protection at the end of each underlying one-year outcome period, before fees and expenses. Its underlying holdings consist of Calamos Bitcoin Structured Alt Protection ETFs initiated in separate quarterly series, including the CBOY, CBOA, CBOJ and CBOO series; the strategy uses structured outcome exposures rather than directly holding bitcoin. CBOL targets investors seeking bitcoin-linked return potential with predefined outcome-based risk management, including capped appreciation and protection that applies only under the stated terms and at the conclusion of the applicable outcome periods. The Fund was launched on October 14, 2025, and is sponsored within the Calamos ETF Trust, with Calamos Investments LLC serving as investment adviser. Calamos Investments is headquartered in Naperville, Illinois, United States, and operates as a diversified global investment manager offering alternative, multi-asset, convertible, fixed-income and equity strategies through ETFs, mutual funds, closed-end funds, separately managed accounts, private funds and UCITS funds. CBOL represents part of Calamos’ October 2025 expansion into bitcoin structured-protection ETFs, launched alongside the 90%-protection CBXL and 80%-protection CBTL laddered strategies; CBOL was positioned as the 100%-protected version of the firm’s laddered bitcoin ETF suite. As of September 4, 2026, the portfolio’s active underlying outcome periods extended through October 2026, January 2027, April 2027 and July 2027, reflecting the Fund’s ongoing quarterly laddering process and continued operation of the strategy.