Grab Holdings Limited (GRAB)

[Penny Roger$]

Advent Claymore Convertible Securities and Income Fund II (the “Fund”) is a diversified, closed-end management investment company. The Fund’s investment objective is to provide total return, through a combination of capital appreciation and current income. There can be no assurance that the Fund will achieve its investment objective.

Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in a diversified portfolio of convertible securities and non-convertible income-producing securities, each of U.S. and non-U.S. issuers. Within this general investment policy, the Fund will follow, under normal market conditions, the following investment parameters:
the Fund will invest at least 50% of its Managed Assets in convertible securities;
the Fund may invest up to 40% of its Managed Assets in non-convertible income-producing securities; and

The portion of the Fund’s Managed Assets invested in convertible securities, non-convertible income-producing securities and foreign 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. The Fund may invest in securities of any credit quality, including securities that are of below investment grade quality without restrictions on maintaining a minimum weighted average portfolio rating of investment grade with respect to the portion of the Fund’s managed assets invested in convertible securities. Securities of below investment grade quality are regarded as having speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal and are commonly referred to as “junk bonds” or “high yield securities.” In furtherance of the Fund’s investment objective, the Fund intends to engage in an option strategy of writing (selling) covered call options on up to 25% of the securities held in the Fund’s portfolio, to seek to generate current gains from option premiums as a means to enhance distributions payable to the holders of common shares.

For periodic shareholder reports and recent fund-specific filings, please visit the U.S. Securities and Exchange Commission (“SEC”) website via the following: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001391461
FREQUENTLY ASKED QUESTIONS
What are the changes to certain non-fundamental investment policies?

On December 6, 2011 it was announced that the Fund’s Board of Trustees approved changes to certain non-fundamental investment policies. In addition, effective February 28, 2012, AGC changed its name to Advent Claymore Convertible Securities and Income Fund II. After these changes, AGC will continue to pursue its investment objective to provide total return, through a combination of capital appreciation and current income. In addition, AGC will continue to seek to achieve its investment objective by investing, under normal market conditions, at least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income-producing securities, each of U.S. and non-U.S. issuers. However, it is no longer a non-fundamental investment policy of AGC that (i) it must invest at least 50% of its managed assets in foreign securities and (ii) it will invest in the securities of issuers located in at least three different countries, including the United States. AGC’s investment in foreign securities may vary over time in the discretion of the Fund’s investment manager.

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