2020 Janus Henderson Estimated Per Share Distribution

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2020 Janus Henderson Estimated Per Share Distribution Amounts The Janus Henderson final year-end distribution estimates to be paid in December 2020 are shown below. Please note that these estimates were prepared using income and capital gain amounts through November 2, 2020. The distribution amounts may change, perhaps significantly, for the following reasons: 1. The funds are required to distribute capital gains recognized through October 31, 2020. The dividend estimates include income through November 2nd plus estimated income for November 3rd through December 31st. Actual income from November 3rd through December 31st may differ from the income estimated. 2. The total number of shares which will receive the distribution will change, perhaps significantly. The regular monthly dividend for the Janus Henderson fixed income funds, the Janus Henderson Value Plus Income Fund, the Janus Henderson Global Income Managed Volatility Fund, and the Janus Henderson Developed World Bond Fund is payable on December 31, 2020. The funds intend to distribute the maximum amount of dividends qualifying for the 15% rate allowable under the law. Estimates of the qualifying percentage are not yet available. Please note that Funds that have invested in real estate investment trusts (REITs) during the current tax year may potentially recharacterize some of their income distributions as return of capital. If applicable, the recharacterization may occur in February following the current tax year.

Janus Henderson Investors 151 Detroit Street, Denver, CO 80206 T (303) 336 4000 janushenderson.com Janus Henderson Distributors

Janus Investment Fund (A Shares) Preliminary Distribution Estimates As of 11/02/20

CUSIP

Ticker

47103D462 47103D272 47103E379 47103C506 47103C878 47103Y862 47103X864 47103X757 47103D389 47103C829 47103X641 47103C761 47103A674 47103E486 47103X534 47103C159 471023481 47103A617 47103C324 47103C548 47103Y615 471023358 471023440 47103C654 47103C597 47103A781 47103X310 47103D629 47103A310 47103C266 47103D546 47103C480 471023317 471023267 47103C217 47103E239 47103C373 47103A732 47103E627 47103E429

JUCAX JAGAX JAQAX JDBAX JCNAX HFAAX HDAVX HEMAX JOLAX JDMAX HFEAX JDFAX JDCAX JGBAX HFQAX JGDAX JFNAX JERAX JDWAX JORAX JEASX JATAX JPPAX JDNAX JHYAX JMIAX HFOAX JIFAX JAPAX JDPAX JMUAX JDIAX JRAAX JSHAX JDSAX JVSAX JGMAX JRSAX JPVAX JVTAX

Fund (3)

(2)

(3) (2)

(3)

(3) (2) (3)

(2)

(2) (3)

(3)

(3)

(3)

(1) (2) (3) *

Absolute Return Income Opportunities Fund Adaptive Global Allocation Fund Asia Equity Fund Balanced Fund Contrarian Fund Developed World Bond Fund Dividend & Income Builder Fund Emerging Markets Fund Emerging Markets Managed Volatility Fund Enterprise Fund * European Focus Fund Flexible Bond Fund Forty Fund Global Bond Fund Global Equity Income Fund Global Income Managed Volatility Fund Global Life Sciences Fund Global Real Estate Fund Global Research Fund Global Select Fund Global Sustainable Equity Fund Global Technology and Innovation Fund Global Value Fund Growth and Income Fund High-Yield Fund International Managed Volatility Fund International Opportunities Fund International Value Fund Large Cap Value Fund Mid Cap Value Fund Multi-Sector Income Fund Overseas Fund Research Fund Short-Term Bond Fund Small Cap Value Fund * Small-Mid Cap Value Fund Triton Fund * US Managed Volatility Fund Value Plus Income Fund Venture Fund *

Record Date

Payable Date

Investment Income

12/30/2020 12/29/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/30/2020 12/16/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/16/2020 12/30/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/18/2020 12/30/2020 12/16/2020 12/16/2020 12/30/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020

12/31/2020 12/30/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/31/2020 12/17/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/17/2020 12/31/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/21/2020 12/31/2020 12/17/2020 12/17/2020 12/31/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020

$0.00 $0.24 $0.00 $0.00 $0.10 $0.34 $0.00 $0.10 $0.24 $0.00 $0.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.67 $0.00 $0.15 $0.11 $0.08 $0.00 $0.23 $0.00 $0.01 $0.00 $0.17 $0.17 $0.19 $0.09 $0.00 $0.24 $0.00 $0.00 $0.19 $0.05 $0.00 $0.12 $0.00 $0.00

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Amounts do not include the normal quarterly distribution payable on the date noted above. Amounts do not include the normal monthly distribution payable on December 31, 2020. Closed to certain new investors.

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.00% 2.33% 0.00% 0.00% 0.43% 3.36% 0.00% 0.98% 2.23% 0.00% 0.33% 0.00% 0.00% 0.00% 0.00% 0.00% 1.02% 0.00% 0.17% 0.70% 0.72% 0.00% 1.86% 0.00% 0.12% 0.00% 0.70% 1.98% 1.50% 0.63% 0.00% 0.73% 0.00% 0.00% 1.04% 0.47% 0.00% 0.99% 0.00% 0.00%

$0.00 $0.15 $0.00 $0.02 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.13 $0.00 $0.00 $0.04 $0.00 $0.00 $0.15 $0.02 $0.00 $0.01 $0.03 $0.00 $0.00 $0.00 $0.00 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.44 $0.00 $0.16

0.00% 1.46% 0.00% 0.05% 0.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.17% 1.25% 0.00% 0.00% 0.06% 0.00% 0.00% 0.95% 0.18% 0.00% 0.08% 0.05% 0.00% 0.00% 0.00% 0.00% 0.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.26% 3.64% 0.00% 0.19%

$0.00 $0.00 $0.00 $0.45 $0.21 $0.00 $0.00 $0.00 $0.00 $12.59 $0.00 $0.00 $3.76 $0.09 $0.00 $0.00 $4.82 $0.00 $3.26 $0.60 $0.00 $4.85 $0.86 $1.81 $0.00 $0.19 $0.00 $0.00 $0.47 $0.00 $0.00 $0.00 $1.81 $0.00 $0.00 $0.00 $1.49 $0.90 $0.00 $5.41

0.00% 0.00% 0.00% 1.18% 0.90% 0.00% 0.00% 0.00% 0.00% 9.03% 0.00% 0.00% 8.17% 0.87% 0.00% 0.00% 7.34% 0.00% 3.72% 3.82% 0.00% 9.73% 6.95% 3.10% 0.00% 2.20% 0.00% 0.00% 3.71% 0.00% 0.00% 0.00% 3.13% 0.00% 0.00% 0.00% 4.78% 7.44% 0.00% 6.39%

Janus Investment Fund (C Shares) Preliminary Distribution Estimates As of 11/02/20

CUSIP

Ticker

47103D454 47103D264 47103E361 47103C605 47103C860 47103Y854 47103X856 47103X740 47103D371 47103C811 47103X633 47103C753 47103A666 47103E478 47103X526 47103C142 471023473 47103A591 47103C316 47103C530 47103Y599 471023341 471023432 47103C647 47103C589 47103A773 47103X294 47103D611 47103A294 47103C258 47103D538 47103C472 471023291 471023259 47103C191 47103E221 47103C365 47103A724 47103E619 47103E411

JUCCX JAVCX JAQCX JABCX JCNCX HFACX HDCVX HEMCX JOLCX JGRCX HFECX JFICX JACCX JGBCX HFQCX JGDCX JFNCX JERCX JWWCX JORCX JECTX JAGCX JPPCX JGICX JDHCX JMICX HFOCX JIFCX JAPCX JMVCX JMUCX JIGCX JRACX JSHCX JCSCX JVSCX JGMCX JRSCX JPVCX JVTCX

Fund (3)

(2)

(3) (2)

(3)

(3) (2) (3)

(2)

(2) (3)

(3)

(3)

(3)

(1) (2) (3) *

Absolute Return Income Opportunities Fund Adaptive Global Allocation Fund Asia Equity Fund Balanced Fund Contrarian Fund Developed World Bond Fund Dividend & Income Builder Fund Emerging Markets Fund Emerging Markets Managed Volatility Fund Enterprise Fund * European Focus Fund Flexible Bond Fund Forty Fund Global Bond Fund Global Equity Income Fund Global Income Managed Volatility Fund Global Life Sciences Fund Global Real Estate Fund Global Research Fund Global Select Fund Global Sustainable Equity Fund Global Technology and Innovation Fund Global Value Fund Growth and Income Fund High-Yield Fund International Managed Volatility Fund International Opportunities Fund International Value Fund Large Cap Value Fund Mid Cap Value Fund Multi-Sector Income Fund Overseas Fund Research Fund Short-Term Bond Fund Small Cap Value Fund * Small-Mid Cap Value Fund Triton Fund * US Managed Volatility Fund Value Plus Income Fund Venture Fund *

Record Date

Payable Date

Investment Income

12/30/2020 12/29/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/30/2020 12/16/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/16/2020 12/30/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/18/2020 12/30/2020 12/16/2020 12/16/2020 12/30/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020

12/31/2020 12/30/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/31/2020 12/17/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/17/2020 12/31/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/21/2020 12/31/2020 12/17/2020 12/17/2020 12/31/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020

$0.00 $0.16 $0.00 $0.00 $0.00 $0.34 $0.00 $0.01 $0.20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.23 $0.00 $0.00 $0.00 $0.07 $0.00 $0.06 $0.00 $0.01 $0.00 $0.00 $0.17 $0.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.12 $0.00 $0.00 $0.03 $0.00 $0.00

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Amounts do not include the normal quarterly distribution payable on the date noted above. Amounts do not include the normal monthly distribution payable on December 31, 2020. Closed to certain new investors.

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.00% 1.55% 0.00% 0.00% 0.00% 3.38% 0.00% 0.10% 1.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.39% 0.00% 0.00% 0.00% 0.63% 0.00% 0.50% 0.00% 0.12% 0.00% 0.00% 1.98% 0.89% 0.00% 0.00% 0.00% 0.00% 0.00% 0.71% 0.00% 0.00% 0.26% 0.00% 0.00%

$0.00 $0.15 $0.00 $0.02 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.13 $0.00 $0.00 $0.04 $0.00 $0.00 $0.15 $0.02 $0.00 $0.01 $0.03 $0.00 $0.00 $0.00 $0.00 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.44 $0.00 $0.16

0.00% 1.46% 0.00% 0.05% 0.47% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.22% 1.25% 0.00% 0.00% 0.07% 0.00% 0.00% 1.00% 0.18% 0.00% 0.08% 0.05% 0.00% 0.00% 0.00% 0.00% 0.81% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.28% 3.76% 0.00% 0.21%

$0.00 $0.00 $0.00 $0.45 $0.21 $0.00 $0.00 $0.00 $0.00 $12.59 $0.00 $0.00 $3.76 $0.09 $0.00 $0.00 $4.82 $0.00 $3.26 $0.60 $0.00 $4.85 $0.86 $1.81 $0.00 $0.19 $0.00 $0.00 $0.47 $0.00 $0.00 $0.00 $1.81 $0.00 $0.00 $0.00 $1.49 $0.90 $0.00 $5.41

0.00% 0.00% 0.00% 1.19% 0.98% 0.00% 0.00% 0.00% 0.00% 9.90% 0.00% 0.00% 10.30% 0.87% 0.00% 0.00% 8.13% 0.00% 3.82% 3.98% 0.00% 10.94% 7.14% 3.14% 0.00% 2.26% 0.00% 0.00% 3.80% 0.00% 0.00% 0.00% 3.41% 0.00% 0.00% 0.00% 5.27% 7.69% 0.00% 7.04%

Janus Investment Fund (D Shares) Preliminary Distribution Estimates As of 11/02/20

CUSIP

Ticker

47103D447 47103D215 47103E353 47103E205 47103E304 47103Y847 47103X849 47103X732 47103D363 47103E403 47103X625 47103E502 47103D199 47103E460 47103X518 47103C134 47103E700 47103E882 47103E668 47103E783 47103Y581 47103E866 47103E809 47103E858 47103E841 47103E833 47103D280 47103X286 47103D595 47103E635 47103E650 47103E791 47103D520 47103E775 47103E759 47103E742 47103E643 47103E213 47103E692 47103D314 47103E593 47103E676

JUCDX JAGDX JAQDX JANBX JACNX HFADX HDDVX HEMDX JOLDX JANEX HFEDX JANFX JFRDX JGBDX HFQDX JGDDX JNGLX JNGSX JANWX JANRX JEDTX JNGTX JNGOX JGVXX JNGIX JNHYX JIIDX HFODX JIFDX JNPLX JNMCX JNMXX JMUDX JNOSX JNRFX JNSTX JNPSX JSVDX JANIX JRSDX JPVDX JANVX

Fund (3)

(2)

(3) (2)

(3)

(3) (2) (3)

(2)

(3) (2) (3)

(3) (3)

(3)

(3)

(1) (2) (3) *

Absolute Return Income Opportunities Fund Adaptive Global Allocation Fund Asia Equity Fund Balanced Fund Contrarian Fund Developed World Bond Fund Dividend & Income Builder Fund Emerging Markets Fund Emerging Markets Managed Volatility Fund Enterprise Fund * European Focus Fund Flexible Bond Fund Forty Fund Global Bond Fund Global Equity Income Fund Global Income Managed Volatility Fund Global Life Sciences Fund Global Real Estate Fund Global Research Fund Global Select Fund Global Sustainable Equity Fund Global Technology and Innovation Fund Global Value Fund Government Money Market Fund Growth and Income Fund High-Yield Fund International Managed Volatility Fund International Opportunities Fund International Value Fund Large Cap Value Fund Mid Cap Value Fund Money Market Fund Multi-Sector Income Fund Overseas Fund Research Fund Short-Term Bond Fund Small Cap Value Fund * Small-Mid Cap Value Fund Triton Fund * US Managed Volatility Fund Value Plus Income Fund Venture Fund *

Record Date

Payable Date

Investment Income

12/30/2020 12/29/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/30/2020 12/16/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/30/2020 12/16/2020 12/30/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/18/2020 12/30/2020 12/30/2020 12/16/2020 12/16/2020 12/30/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020

12/31/2020 12/30/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/31/2020 12/17/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/31/2020 12/17/2020 12/31/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/21/2020 12/31/2020 12/31/2020 12/17/2020 12/17/2020 12/31/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020

$0.00 $0.18 $0.01 $0.00 $0.15 $0.34 $0.00 $0.12 $0.17 $0.45 $0.17 $0.00 $0.00 $0.00 $0.00 $0.00 $0.77 $0.00 $0.38 $0.14 $0.00 $0.05 $0.26 $0.00 $0.00 $0.01 $0.00 $0.25 $0.18 $0.22 $0.14 $0.00 $0.00 $0.34 $0.07 $0.00 $0.21 $0.07 $0.00 $0.15 $0.00 $0.00

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Amounts do not include the normal quarterly distribution payable on the date noted above. Amounts do not include the normal monthly distribution payable on December 31, 2020. Closed to certain new investors.

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.00% 1.74% 0.08% 0.00% 0.64% 3.36% 0.00% 1.17% 1.60% 0.31% 0.51% 0.00% 0.00% 0.00% 0.00% 0.00% 1.15% 0.00% 0.44% 0.90% 0.00% 0.10% 2.08% 0.00% 0.00% 0.12% 0.00% 1.03% 2.09% 1.76% 1.01% 0.00% 0.00% 1.04% 0.12% 0.00% 1.16% 0.66% 0.00% 1.26% 0.00% 0.00%

$0.00 $0.15 $0.00 $0.02 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.13 $0.00 $0.00 $0.04 $0.00 $0.00 $0.15 $0.02 $0.00 $0.01 $0.00 $0.03 $0.00 $0.00 $0.00 $0.00 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.44 $0.00 $0.16

0.00% 1.45% 0.00% 0.05% 0.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.18% 1.25% 0.00% 0.00% 0.06% 0.00% 0.00% 0.96% 0.18% 0.00% 0.08% 0.00% 0.05% 0.00% 0.00% 0.00% 0.00% 0.80% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.25% 3.68% 0.00% 0.18%

$0.00 $0.00 $0.00 $0.45 $0.21 $0.00 $0.00 $0.00 $0.00 $12.59 $0.00 $0.00 $3.76 $0.09 $0.00 $0.00 $4.82 $0.00 $3.26 $0.60 $0.00 $4.85 $0.86 $0.00 $1.81 $0.00 $0.19 $0.00 $0.00 $0.47 $0.00 $0.00 $0.00 $0.00 $1.81 $0.00 $0.00 $0.00 $1.49 $0.90 $0.00 $5.41

0.00% 0.00% 0.00% 1.18% 0.90% 0.00% 0.00% 0.00% 0.00% 8.75% 0.00% 0.00% 8.45% 0.87% 0.00% 0.00% 7.20% 0.00% 3.75% 3.84% 0.00% 9.46% 6.89% 0.00% 3.09% 0.00% 2.24% 0.00% 0.00% 3.75% 0.00% 0.00% 0.00% 0.00% 3.10% 0.00% 0.00% 0.00% 4.63% 7.53% 0.00% 6.18%

Janus Investment Fund (I Shares) Preliminary Distribution Estimates As of 11/02/20

CUSIP

Ticker

47103D439 47103D249 47103E346 47103C704 47103C852 47103Y839 47103X831 47103X724 47103D355 47103C795 47103X617 47103C746 47103A658 47103E452 47103X492 47103C126 471023465 47103A583 47103C290 47103C522 47103Y573 471023333 471023424 47103C639 47103C571 47103A765 47103X278 47103D587 47103A286 47103C241 47103D512 47103C464 471023283 471023242 47103C183 47103E197 47103C357 47103A716 47103E585 47103E395

JUCIX JVGIX JAQIX JBALX JCONX HFAIX HDIVX HEMIX JOLIX JMGRX HFEIX JFLEX JCAPX JGBIX HFQIX JGDIX JFNIX JERIX JWWFX JORFX JEUIX JATIX JPPIX JGINX JHYFX JMIIX HFOIX JIFIX JAPIX JMVAX JMUIX JIGFX JRAIX JSHIX JSCOX JVSIX JSMGX JRSIX JPVIX JVTIX

Fund (3)

(2)

(3) (2)

(3)

(3) (2) (3)

(2)

(2) (3)

(3)

(3)

(3)

(1) (2) (3) *

Absolute Return Income Opportunities Fund Adaptive Global Allocation Fund Asia Equity Fund Balanced Fund Contrarian Fund Developed World Bond Fund Dividend & Income Builder Fund Emerging Markets Fund Emerging Markets Managed Volatility Fund Enterprise Fund * European Focus Fund Flexible Bond Fund Forty Fund Global Bond Fund Global Equity Income Fund Global Income Managed Volatility Fund Global Life Sciences Fund Global Real Estate Fund Global Research Fund Global Select Fund Global Sustainable Equity Fund Global Technology and Innovation Fund Global Value Fund Growth and Income Fund High-Yield Fund International Managed Volatility Fund International Opportunities Fund International Value Fund Large Cap Value Fund Mid Cap Value Fund Multi-Sector Income Fund Overseas Fund Research Fund Short-Term Bond Fund Small Cap Value Fund * Small-Mid Cap Value Fund Triton Fund * US Managed Volatility Fund Value Plus Income Fund Venture Fund *

Record Date

Payable Date

Investment Income

12/30/2020 12/29/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/30/2020 12/16/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/16/2020 12/30/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/18/2020 12/30/2020 12/16/2020 12/16/2020 12/30/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020

12/31/2020 12/30/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/31/2020 12/17/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/17/2020 12/31/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/21/2020 12/31/2020 12/17/2020 12/17/2020 12/31/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020

$0.00 $0.21 $0.03 $0.00 $0.16 $0.34 $0.00 $0.13 $0.17 $0.51 $0.19 $0.00 $0.00 $0.00 $0.00 $0.00 $0.80 $0.00 $0.44 $0.15 $0.04 $0.08 $0.27 $0.00 $0.01 $0.00 $0.27 $0.18 $0.22 $0.14 $0.00 $0.36 $0.09 $0.00 $0.22 $0.07 $0.00 $0.14 $0.00 $0.00

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Amounts do not include the normal quarterly distribution payable on the date noted above. Amounts do not include the normal monthly distribution payable on December 31, 2020. Closed to certain new investors.

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.00% 2.02% 0.24% 0.00% 0.68% 3.37% 0.00% 1.27% 1.60% 0.35% 0.57% 0.00% 0.00% 0.00% 0.00% 0.00% 1.19% 0.00% 0.50% 0.96% 0.36% 0.15% 2.20% 0.00% 0.12% 0.00% 1.11% 2.09% 1.74% 1.00% 0.00% 1.10% 0.15% 0.00% 1.21% 0.65% 0.00% 1.16% 0.00% 0.00%

$0.00 $0.15 $0.00 $0.02 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.13 $0.00 $0.00 $0.04 $0.00 $0.00 $0.15 $0.02 $0.00 $0.01 $0.03 $0.00 $0.00 $0.00 $0.00 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.44 $0.00 $0.16

0.00% 1.45% 0.00% 0.05% 0.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.17% 1.25% 0.00% 0.00% 0.06% 0.00% 0.00% 0.96% 0.18% 0.00% 0.08% 0.05% 0.00% 0.00% 0.00% 0.00% 0.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.25% 3.64% 0.00% 0.18%

$0.00 $0.00 $0.00 $0.45 $0.21 $0.00 $0.00 $0.00 $0.00 $12.59 $0.00 $0.00 $3.76 $0.09 $0.00 $0.00 $4.82 $0.00 $3.26 $0.60 $0.00 $4.85 $0.86 $1.81 $0.00 $0.19 $0.00 $0.00 $0.47 $0.00 $0.00 $0.00 $1.81 $0.00 $0.00 $0.00 $1.49 $0.90 $0.00 $5.41

0.00% 0.00% 0.00% 1.17% 0.90% 0.00% 0.00% 0.00% 0.00% 8.70% 0.00% 0.00% 7.82% 0.87% 0.00% 0.00% 7.19% 0.00% 3.69% 3.82% 0.00% 9.37% 7.02% 3.09% 0.00% 2.22% 0.00% 0.00% 3.73% 0.00% 0.00% 0.00% 3.11% 0.00% 0.00% 0.00% 4.59% 7.44% 0.00% 6.14%

Janus Investment Fund (L Shares) * Preliminary Distribution Estimates As of 11/02/20

CUSIP 471023580 471023564

Ticker

Fund

JMIVX JSIVX

Mid Cap Value Fund Small Cap Value Fund (1) *

Record Date

Payable Date

12/18/2020 12/21/2020 12/18/2020 12/21/2020

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Closed to certain new investors.

Investment Income $0.14 $0.23

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.97% 1.23%

$0.00 $0.00

0.00% 0.00%

$0.00 $0.00

0.00% 0.00%

Janus Investment Fund (N Shares) Preliminary Distribution Estimates As of 11/02/20

CUSIP

Ticker

47103D421 47103D231 47103Y649 47103D108 47103D207 47103Y821 47103X823 47103X716 47103D348 47103D405 47103X591 47103D504 47103D603 47103D801 47103X484 47103E163 47103Y631 47103Y623 47103D777 47103D876 47103Y565 47103D181 47103D769 47103D868 47103D850 47103E155 47103X260 47103D579 47103D751 47103D744 47103D496 47103D835 47103D827 47103D819 47103D728 47103D736 47103D793 47103E122 47103D710 47103D785

JUCNX JAGNX JAQNX JABNX JCNNX HFARX HDRVX HEMRX JOLNX JDMNX HFERX JDFNX JFRNX JGLNX HFQRX JGGNX JFNNX JERNX JDWNX JSLNX JETNX JATNX JPPNX JDNNX JHYNX JMRNX HFOSX JIFNX JPLNX JDPNX JMTNX JDINX JRANX JSHNX JDSNX JVSNX JGMNX JRSNX JPVNX JVTNX

Fund (3)

(2)

(3) (2)

(3)

(3) (2) (3)

(2)

(2) (3)

(3)

(3)

(3)

(1) (2) (3) *

Absolute Return Income Opportunities Fund Adaptive Global Allocation Fund Asia Equity Fund Balanced Fund Contrarian Fund Developed World Bond Fund Dividend & Income Builder Fund Emerging Markets Fund Emerging Markets Managed Volatility Fund Enterprise Fund * European Focus Fund Flexible Bond Fund Forty Fund Global Bond Fund Global Equity Income Fund Global Income Managed Volatility Fund Global Life Sciences Fund Global Real Estate Fund Global Research Fund Global Select Fund Global Sustainable Equity Fund Global Technology and Innovation Fund Global Value Fund Growth and Income Fund High-Yield Fund International Managed Volatility Fund International Opportunities Fund International Value Fund Large Cap Value Fund Mid Cap Value Fund Multi-Sector Income Fund Overseas Fund Research Fund Short-Term Bond Fund Small Cap Value Fund * Small-Mid Cap Value Fund Triton Fund * US Managed Volatility Fund Value Plus Income Fund Venture Fund *

Record Date

Payable Date

Investment Income

12/30/2020 12/29/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/30/2020 12/16/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/16/2020 12/30/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/18/2020 12/30/2020 12/16/2020 12/16/2020 12/30/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020

12/31/2020 12/30/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/31/2020 12/17/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/17/2020 12/31/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/21/2020 12/31/2020 12/17/2020 12/17/2020 12/31/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020

$0.00 $0.20 $0.02 $0.00 $0.18 $0.34 $0.00 $0.13 $0.22 $0.65 $0.21 $0.00 $0.00 $0.00 $0.00 $0.00 $0.85 $0.00 $0.50 $0.16 $0.01 $0.10 $0.27 $0.00 $0.01 $0.00 $0.29 $0.19 $0.24 $0.16 $0.00 $0.38 $0.13 $0.00 $0.23 $0.08 $0.00 $0.17 $0.00 $0.00

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Amounts do not include the normal quarterly distribution payable on the date noted above. Amounts do not include the normal monthly distribution payable on December 31, 2020. Closed to certain new investors.

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.00% 1.93% 0.16% 0.00% 0.77% 3.37% 0.00% 1.26% 2.08% 0.45% 0.64% 0.00% 0.00% 0.00% 0.00% 0.00% 1.27% 0.00% 0.58% 1.02% 0.09% 0.20% 2.22% 0.00% 0.12% 0.00% 1.19% 2.20% 1.91% 1.15% 0.00% 1.17% 0.22% 0.00% 1.27% 0.75% 0.00% 1.41% 0.00% 0.00%

$0.00 $0.15 $0.00 $0.02 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.13 $0.00 $0.00 $0.04 $0.00 $0.00 $0.15 $0.02 $0.00 $0.01 $0.03 $0.00 $0.00 $0.00 $0.00 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.44 $0.00 $0.16

0.00% 1.45% 0.00% 0.05% 0.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.17% 1.25% 0.00% 0.00% 0.06% 0.00% 0.00% 0.96% 0.18% 0.00% 0.08% 0.05% 0.00% 0.00% 0.00% 0.00% 0.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.24% 3.65% 0.00% 0.18%

$0.00 $0.00 $0.00 $0.45 $0.21 $0.00 $0.00 $0.00 $0.00 $12.59 $0.00 $0.00 $3.76 $0.09 $0.00 $0.00 $4.82 $0.00 $3.26 $0.60 $0.00 $4.85 $0.86 $1.81 $0.00 $0.19 $0.00 $0.00 $0.47 $0.00 $0.00 $0.00 $1.81 $0.00 $0.00 $0.00 $1.49 $0.90 $0.00 $5.41

0.00% 0.00% 0.00% 1.18% 0.90% 0.00% 0.00% 0.00% 0.00% 8.66% 0.00% 0.00% 7.78% 0.87% 0.00% 0.00% 7.21% 0.00% 3.76% 3.83% 0.00% 9.47% 7.07% 3.09% 0.00% 2.23% 0.00% 0.00% 3.74% 0.00% 0.00% 0.00% 3.11% 0.00% 0.00% 0.00% 4.56% 7.46% 0.00% 6.09%

Janus Investment Fund (R Shares) Preliminary Distribution Estimates As of 11/02/20

CUSIP

Ticker

47103D298 47103C803 47103C845 47103C787 47103C738 47103A641 47103C282 47103C514 47103C621 47103C563 47103X245 47103C233 47103C456 47103D173 47103C175 47103C340

JUCRX JDBRX JCNRX JDMRX JDFRX JDCRX JDWRX JORRX JDNRX JHYRX HFORX JDPRX JDIRX JRARX JDSRX JGMRX

Fund (3) (2)

(3)

(2) (3)

(1) (2) (3) *

Absolute Return Income Opportunities Fund Balanced Fund Contrarian Fund Enterprise Fund * Flexible Bond Fund Forty Fund Global Research Fund Global Select Fund Growth and Income Fund High-Yield Fund International Opportunities Fund Mid Cap Value Fund Overseas Fund Research Fund Small Cap Value Fund * Triton Fund *

Record Date

Payable Date

Investment Income

12/30/2020 12/16/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/16/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/18/2020 12/16/2020

12/31/2020 12/17/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/17/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/21/2020 12/17/2020

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.01 $0.04 $0.05 $0.13 $0.00 $0.17 $0.00

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Amounts do not include the normal quarterly distribution payable on the date noted above. Amounts do not include the normal monthly distribution payable on December 31, 2020. Closed to certain new investors.

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.12% 0.17% 0.36% 0.40% 0.00% 0.97% 0.00%

$0.00 $0.02 $0.10 $0.00 $0.00 $0.08 $0.00 $0.15 $0.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08

0.00% 0.05% 0.45% 0.00% 0.00% 0.20% 0.00% 0.97% 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.27%

$0.00 $0.45 $0.21 $12.59 $0.00 $3.76 $3.26 $0.60 $1.81 $0.00 $0.00 $0.00 $0.00 $1.81 $0.00 $1.49

0.00% 1.19% 0.94% 9.40% 0.00% 9.32% 3.76% 3.89% 3.12% 0.00% 0.00% 0.00% 0.00% 3.15% 0.00% 4.97%

Janus Investment Fund (S Shares) Preliminary Distribution Estimates As of 11/02/20

CUSIP 47103D413 47103D256 47103E338 47103C886 47103C837 47103Y789 47103X781 47103X674 47103D330 47103C779 47103X567 47103C720 47103A633 47103E445 47103X450 47103C118 471023457 47103A575 47103C274 47103C498 47103Y557 471023325 471023416 47103C613 47103C555 47103A757 47103X237 47103D561 47103A278 47103C225 47103D488 47103C449 471023275 471023234 47103C167 47103E189 47103C332 47103A690 47103E577 47103E387

Ticker JUCSX JAGSX JAQSX JABRX JCNIX HFASX HDQVX HEMSX JOLSX JGRTX HFESX JADFX JARTX JGBSX HFQSX JGDSX JFNSX JERSX JWGRX JORIX JESSX JATSX JPPSX JADGX JDHYX JMISX HFOQX JIFSX JAPSX JMVIX JMUSX JIGRX JRASX JSHSX JISCX JSVSX JGMIX JRSSX JPVSX JVTSX

Fund (3)

(2)

(3) (2)

(3)

(3) (2) (3)

(2)

(2) (3)

(3)

(3)

(3)

(1) (2) (3) *

Absolute Return Income Opportunities Fund Adaptive Global Allocation Fund Asia Equity Fund Balanced Fund Contrarian Fund Developed World Bond Fund Dividend & Income Builder Fund Emerging Markets Fund Emerging Markets Managed Volatility Fund Enterprise Fund * European Focus Fund Flexible Bond Fund Forty Fund Global Bond Fund Global Equity Income Fund Global Income Managed Volatility Fund Global Life Sciences Fund Global Real Estate Fund Global Research Fund Global Select Fund Global Sustainable Equity Fund Global Technology and Innovation Fund Global Value Fund Growth and Income Fund High-Yield Fund International Managed Volatility Fund International Opportunities Fund International Value Fund Large Cap Value Fund Mid Cap Value Fund Multi-Sector Income Fund Overseas Fund Research Fund Short-Term Bond Fund Small Cap Value Fund * Small-Mid Cap Value Fund Triton Fund * US Managed Volatility Fund Value Plus Income Fund Venture Fund *

Record Date

Payable Date

Investment Income

12/30/2020 12/29/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/30/2020 12/16/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/16/2020 12/30/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/18/2020 12/30/2020 12/16/2020 12/16/2020 12/30/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020

12/31/2020 12/30/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/31/2020 12/17/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/17/2020 12/31/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/21/2020 12/31/2020 12/17/2020 12/17/2020 12/31/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020

$0.00 $0.18 $0.00 $0.00 $0.00 $0.34 $0.00 $0.09 $0.19 $0.00 $0.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.55 $0.00 $0.00 $0.08 $0.09 $0.00 $0.00 $0.00 $0.01 $0.00 $0.33 $0.19 $0.23 $0.08 $0.00 $0.23 $0.00 $0.00 $0.18 $0.03 $0.00 $0.11 $0.00 $0.00

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Amounts do not include the normal quarterly distribution payable on the date noted above. Amounts do not include the normal monthly distribution payable on December 31, 2020. Closed to certain new investors.

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.00% 1.74% 0.00% 0.00% 0.00% 3.36% 0.00% 0.87% 1.79% 0.00% 0.35% 0.00% 0.00% 0.00% 0.00% 0.00% 0.85% 0.00% 0.00% 0.51% 0.81% 0.00% 0.00% 0.00% 0.12% 0.00% 1.36% 2.21% 1.81% 0.56% 0.00% 0.71% 0.00% 0.00% 1.01% 0.29% 0.00% 0.91% 0.00% 0.00%

$0.00 $0.15 $0.00 $0.02 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.13 $0.00 $0.00 $0.04 $0.00 $0.00 $0.15 $0.02 $0.00 $0.01 $0.03 $0.00 $0.00 $0.00 $0.00 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.44 $0.00 $0.16

0.00% 1.45% 0.00% 0.05% 0.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.18% 1.25% 0.00% 0.00% 0.06% 0.00% 0.00% 0.95% 0.18% 0.00% 0.08% 0.05% 0.00% 0.00% 0.00% 0.00% 0.78% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.26% 3.64% 0.00% 0.19%

$0.00 $0.00 $0.00 $0.45 $0.21 $0.00 $0.00 $0.00 $0.00 $12.59 $0.00 $0.00 $3.76 $0.09 $0.00 $0.00 $4.82 $0.00 $3.26 $0.60 $0.00 $4.85 $0.86 $1.81 $0.00 $0.19 $0.00 $0.00 $0.47 $0.00 $0.00 $0.00 $1.81 $0.00 $0.00 $0.00 $1.49 $0.90 $0.00 $5.41

0.00% 0.00% 0.00% 1.18% 0.90% 0.00% 0.00% 0.00% 0.00% 9.08% 0.00% 0.00% 8.56% 0.87% 0.00% 0.00% 7.49% 0.00% 3.72% 3.81% 0.00% 9.95% 7.22% 3.10% 0.00% 2.21% 0.00% 0.00% 3.69% 0.00% 0.00% 0.00% 3.19% 0.00% 0.00% 0.00% 4.83% 7.45% 0.00% 6.48%

Janus Investment Fund (T Shares) Preliminary Distribution Estimates As of 11/02/20

CUSIP

Ticker

47103D397 47103D223 47103E320 471023879 471023655 47103Y771 47103X773 47103X666 47103D322 471023804 47103X559 471023606 47103A625 47103E437 47103X443 47103E247 471023671 47103A567 471023309 471023648 47103Y540 471023663 471023622 471023820 471023200 471023762 47103A740 47103X229 47103D553 47103A260 471023598 471023838 47103D470 471023846 471023853 471023887 471023572 47103E171 471023549 47103A682 47103E569 471023507

JUCTX JVGTX JAQTX JABAX JSVAX HFATX HDTVX HEMTX JOLTX JAENX HFETX JAFIX JACTX JHBTX HFQTX JDGTX JAGLX JERTX JAWWX JORNX JETTX JAGTX JGVAX JAGXX JAGIX JAHYX JRMTX HFOTX JIFTX JPLTX JMCVX JAMXX JMUTX JAOSX JAMRX JASBX JSCVX JSVTX JATTX JRSTX JPVTX JAVTX

Fund (3)

(2)

(3) (2)

(3)

(3) (2) (3)

(2)

(3) (2) (3)

(3) (3)

(3)

(3)

(1) (2) (3) *

Absolute Return Income Opportunities Fund Adaptive Global Allocation Fund Asia Equity Fund Balanced Fund Contrarian Fund Developed World Bond Fund Dividend & Income Builder Fund Emerging Markets Fund Emerging Markets Managed Volatility Fund Enterprise Fund * European Focus Fund Flexible Bond Fund Forty Fund Global Bond Fund Global Equity Income Fund Global Income Managed Volatility Fund Global Life Sciences Fund Global Real Estate Fund Global Research Fund Global Select Fund Global Sustainable Equity Fund Global Technology and Innovation Fund Global Value Fund Government Money Market Fund Growth and Income Fund High-Yield Fund International Managed Volatility Fund International Opportunities Fund International Value Fund Large Cap Value Fund Mid Cap Value Fund Money Market Fund Multi-Sector Income Fund Overseas Fund Research Fund Short-Term Bond Fund Small Cap Value Fund * Small-Mid Cap Value Fund Triton Fund * US Managed Volatility Fund Value Plus Income Fund Venture Fund *

Record Date

Payable Date

Investment Income

12/30/2020 12/29/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/30/2020 12/16/2020 12/30/2020 12/16/2020 12/18/2020 12/16/2020 12/18/2020 12/16/2020 12/16/2020 12/16/2020 12/16/2020 12/18/2020 12/30/2020 12/16/2020 12/30/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/18/2020 12/30/2020 12/30/2020 12/16/2020 12/16/2020 12/30/2020 12/18/2020 12/18/2020 12/16/2020 12/18/2020 12/18/2020 12/16/2020

12/31/2020 12/30/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/31/2020 12/17/2020 12/31/2020 12/17/2020 12/21/2020 12/17/2020 12/21/2020 12/17/2020 12/17/2020 12/17/2020 12/17/2020 12/21/2020 12/31/2020 12/17/2020 12/31/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/21/2020 12/31/2020 12/31/2020 12/17/2020 12/17/2020 12/31/2020 12/21/2020 12/21/2020 12/17/2020 12/21/2020 12/21/2020 12/17/2020

$0.00 $0.17 $0.00 $0.00 $0.13 $0.34 $0.00 $0.11 $0.20 $0.31 $0.16 $0.00 $0.00 $0.00 $0.00 $0.00 $0.70 $0.00 $0.32 $0.13 $0.03 $0.02 $0.25 $0.00 $0.00 $0.01 $0.00 $0.13 $0.17 $0.21 $0.12 $0.00 $0.00 $0.31 $0.03 $0.00 $0.20 $0.04 $0.00 $0.14 $0.00 $0.00

Ordinary income includes net investment income, short-term gains, currency gains and losses, and certain tax adjustments. Amounts do not include the normal quarterly distribution payable on the date noted above. Amounts do not include the normal monthly distribution payable on December 31, 2020. Closed to certain new investors.

Ordinary Income (1) As a % of Short-Term As a % of Long-Term As a % of NAV Capital Gain NAV Capital Gain NAV 0.00% 1.65% 0.00% 0.00% 0.56% 3.36% 0.00% 1.07% 1.89% 0.22% 0.48% 0.00% 0.00% 0.00% 0.00% 0.00% 1.05% 0.00% 0.37% 0.83% 0.27% 0.04% 2.00% 0.00% 0.00% 0.12% 0.00% 0.53% 1.98% 1.68% 0.86% 0.00% 0.00% 0.95% 0.05% 0.00% 1.10% 0.38% 0.00% 1.17% 0.00% 0.00%

$0.00 $0.15 $0.00 $0.02 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.13 $0.00 $0.00 $0.04 $0.00 $0.00 $0.15 $0.02 $0.00 $0.01 $0.00 $0.03 $0.00 $0.00 $0.00 $0.00 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.44 $0.00 $0.16

0.00% 1.45% 0.00% 0.05% 0.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.18% 1.25% 0.00% 0.00% 0.06% 0.00% 0.00% 0.96% 0.18% 0.00% 0.08% 0.00% 0.05% 0.00% 0.00% 0.00% 0.00% 0.80% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.25% 3.69% 0.00% 0.19%

$0.00 $0.00 $0.00 $0.45 $0.21 $0.00 $0.00 $0.00 $0.00 $12.59 $0.00 $0.00 $3.76 $0.09 $0.00 $0.00 $4.82 $0.00 $3.26 $0.60 $0.00 $4.85 $0.86 $0.00 $1.81 $0.00 $0.19 $0.00 $0.00 $0.47 $0.00 $0.00 $0.00 $0.00 $1.81 $0.00 $0.00 $0.00 $1.49 $0.90 $0.00 $5.41

0.00% 0.00% 0.00% 1.18% 0.90% 0.00% 0.00% 0.00% 0.00% 8.82% 0.00% 0.00% 8.34% 0.87% 0.00% 0.00% 7.24% 0.00% 3.76% 3.83% 0.00% 9.54% 6.90% 0.00% 3.09% 0.00% 2.23% 0.00% 0.00% 3.76% 0.00% 0.00% 0.00% 0.00% 3.10% 0.00% 0.00% 0.00% 4.68% 7.54% 0.00% 6.28%

Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, please call Janus Henderson at 800.668.0434 (or 800.525.3713 if you hold shares directly with Janus Henderson). You can also visit janushenderson.com/info (or janushenderson.com/reports if you hold shares directly with Janus Henderson). Read it carefully before you invest or send money. Performance may be affected by risks that include those associated with non-diversification, portfolio turnover, short sales, potential conflicts of interest, foreign and emerging markets, initial public offerings (IPOs), high-yield and high-risk securities, undervalued, overlooked and smaller capitalization companies, real estate related securities including Real Estate Investment Trusts (REITs), derivatives, and commodity-linked investments. Each product has different risks. Please see the prospectus for more information about risks, holdings and other details. Intech Investment Management LLC and Perkins Investment Management LLC are subsidiaries of Janus Henderson Group plc and serve as the subadviser on certain products. Janus Henderson, Perkins and Intech are trademarks of Janus Henderson Group plc or one of its subsidiaries. ©Janus Henderson Group plc. C-1120-33323 12-30-20

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