The Lord Abbett Fund

A Time-Tested Solution As of 06/30/2021

This presentation has been prepared exclusively for use by analysts, institutional investors and their consultants, registered investment advisors, broker-dealers, and sponsors of plans with a minimum of 100 participants. It is not intended for, and should not be used with, small plan sponsors, plan participants, or the public in written or oral form or for any other purpose. A Time-Tested Solution for Today’s Market

The Bond Investor Debenture Challenges Fund

5 decades of delivering income Finding income in a low yield environment through a flexible, multi-sector approach

Enhancing returns from fixed income, A track record of generating higher returns than with less risk than pure high yield strategies core bonds, with less volatility than high yield

Diversifying interest rate risk Historically positive returns during of core bond allocations periods of rising rates

Over the long-term, the Bond Debenture Fund has delivered 78% of the return of the S&P 500 Index with only 50% of the volatility*

*Trailing 20 years as of 06/30/2021. Source: Morningstar, based on Class F Shares. Past performance is not a reliable indicator or guarantee of future results. Sharp market fluctuations can materially change the character of a ’s track record. It is possible that during any given time frame within the periods shown above the Fund may have had negative performance. 2 Where to Find Income in a Low Yield World? $13 trillion in global debt yields less than zero

YIELDS ON VARIOUS MATURITIES OF DEVELOPED-NATION GOVT. BONDS (AS OF 06/30/2021) Country 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 15 Year 20 Year 30 Year

Switzerland -0.81 -0.78 -0.74 -0.65 -0.58 -0.50 -0.46 -0.37 -0.31 -0.25 -0.05 0.02 0.03

Germany -0.64 -0.67 -0.68 -0.65 -0.59 -0.48 -0.40 -0.37 -0.30 -0.21 0.05 0.03 0.29

Netherlands -0.71 -0.67 -0.59 -0.52 -0.46 -0.44 -0.35 -0.18 -0.10 0.19 0.19 0.36

Finland -0.64 -0.66 -0.66 -0.56 -0.50 -0.36 -0.33 -0.28 -0.18 -0.08 0.27 0.39 0.56

Austria -0.67 -0.64 -0.59 -0.53 -0.42 -0.39 -0.30 -0.19 -0.09 -0.01 0.25 0.45 0.62

Denmark -0.51 -0.56 -0.55 -0.43 -0.26 -0.11 0.07 0.26 0.49

Belgium -0.64 -0.67 -0.63 -0.55 -0.46 -0.32 -0.27 -0.15 -0.05 0.10 0.26 0.61 0.88

France -0.64 -0.64 -0.60 -0.61 -0.53 -0.31 -0.18 -0.07 0.03 0.13 0.42 0.61 0.91

Ireland -0.63 -0.60 -0.55 -0.48 -0.40 -0.28 -0.18 -0.07 0.16 0.36 0.64 0.86

Japan -0.12 -0.12 -0.13 -0.13 -0.10 -0.09 -0.07 -0.05 0.00 0.05 0.25 0.44 0.68

Spain -0.55 -0.51 -0.41 -0.38 -0.25 -0.06 0.03 0.15 0.28 0.41 0.95 1.11 1.40

Sweden -0.21 -0.25 -0.17 -0.02 0.12 0.23 0.32 0.68

Italy -0.50 -0.37 -0.20 -0.07 0.09 0.32 0.40 0.56 0.70 0.82 1.29 1.54 1.84

United Kingdom 0.03 0.06 0.18 0.33 0.45 0.53 0.66 0.72 1.07 1.21 1.23

United States 0.07 0.25 0.46 0.89 1.24 1.47 2.02 2.09

Source: Bloomberg Index Services Limited and U.S. Treasury Department. Past performance is not a reliable indicator or guarantee of future results. For illustrative purposes only and does not represent any specific portfolio managed by Lord Abbett or any particular investment. 3 Core Bonds: Duration Has Extended as Yields Have Declined Historically low yields result in little margin of safety in core bonds

BLOOMBERG BARCLAYS U.S. AGGREGATE INDEX: DURATION AND YIELD (AS OF 06/30/2021)

Duration Yield to Worst 7.0 Duration: 6.58 years

6.0

5.0

4.0

3.0

2.0

Yield: 1.51% 1.0

0.0 Jun-01 Jun-03 Jun-05 Jun-07 Jun-09 Jun-11 Jun-13 Jun-15 Jun-17 Jun-19 Jun-21

Source: Bloomberg Index Services Limited. The historical data are for illustrative purposes only, do not represent the performance of any specific portfolio managed by Lord Abbett or any particular investment, and are not intended to predict or depict future results. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. 4 Investors Are Heavily Weighted in Intermediate-Term Bonds 40% of fixed income fund assets and flows have gone to intermediate-term bonds

Total Assets ($M) Net Flows – Trailing 5-Years ($M) Morningstar Taxable Fixed Income Categories Morningstar Taxable Fixed Income Categories Total: $5.50 Trillion Total: $1.90 Trillion

$1,261 $528

$2.0T $791B $3,307 $1,111

$930 $263

Intermediate - Core Bond Intermediate - Core Bond Intermediate - Core Plus Intermediate - Core Plus All Other Categories All Other Categories

Source: Strategic Insight. Data represents assets and flows from all open-end mutual funds and ETFs in Morningstar Taxable Fixed Income categories, as of 06/30/2021. The historical data are for illustrative purposes only, do not represent the performance of any specific portfolio managed by Lord Abbett or any particular investment, and are not intended to predict or depict future results. 5 Multi-Sector Credit: Multiple Sources of Income Credit offers sources of additional yield over core bonds FIXED INCOME INDEX YIELDS (AS OF 06/30/2021) 10.0%

9.0%

8.0% 7.17% 7.0%

6.0% 5.35%

5.0% 4.80% Yield To Worst 4.0% 3.87%

3.0% 2.26% 2.0% 1.50% 0.94% 1.0%

0.0% U.S. Treasury¹ U.S. Aggregate² U.S. Corporates³ U.S. HY Corporates⁴ U.S. Leveraged Loans⁵ EM Corporate High EM Sovereign High Yield⁶ Yield⁷

¹Bloomberg Barclays U.S. Government Index. ²Bloomberg Barclays U.S. Aggregate Index. ³Bloomberg Barclays U.S. Investment Grade Corporate Index. 4 ICE BofA U.S. High Yield Index 5 Credit Suisse Leveraged Loan Index. 6JP Morgan CEMBI Non-Investment Grade Index. 7 JP Morgan EMBI Non- Investment Grade Index. Past performance is not a reliable indicator or guarantee of future results. For illustrative purposes only and does not represent any specific portfolio managed by Lord Abbett or any particular investment. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. 6 Multi-Sector Credit: Opportunities for Higher Total Returns Credit has consistently generated excess returns over core bonds

CREDIT SECTOR RETURNS RELATIVE TO THE BARCLAYS U.S. AGGREGATE INDEX1

Investment Grade High Yield Emerging Market Corporate Bonds2 Corporate Bonds3 Sovereign Bonds4 outperformed in outperformed in outperformed in

83% 81% 97%

of rolling five-year periods of rolling five-year periods of rolling five-year periods (01/01/1980 – 06/30/2021) (01/01/1986 – 06/30/2021) (01/01/1994 – 06/30/2021) Median Excess Return: Median Excess Return: Median Excess Return: 94 bps 236 bps 335 bps

For longer holding periods, credit-sensitive sectors have consistently generated higher returns than core bonds

Source: Bloomberg Index Services Limited, ICE Data Indices, LLC and Morningstar, Inc. For illustrative purposes only and does not represent any specific portfolio managed by Lord Abbett or any particular investment. Past performance is not a reliable indicator or guarantee of future results. The value of an investment in fixed-income securities will change as interest rates fluctuate and in response to market movements. As interest rates fall, the prices of debt securities tend to rise. As rates rise, prices tend to fall. 1Bloomberg Barclays U.S. Aggregate Bond Index. 2Bloomberg Barclays Index. 3ICE BofA U.S. High Yield Index. 4JPM EMBI GD Index. Rolling five year returns as of 06/30/2021. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. 7 Credit Sectors Diversify Core Bond Allocations Many credit sectors do not follow treasuries…

CORRELATION WITH BLOOMBERG BARCLAYS U.S. GOVERNMENT INDEX (07/01/2010 – 06/30/2021) 1.00 0.89

0.80

0.63 0.60

0.40 0.34

0.20 Correlation

0.00 -0.01

-0.20 -0.19 -0.22 -0.29 -0.40 -0.39 -0.37

-0.60 Bloomberg U.S. TIPS² U.S. Corporate 'Baa'-Rated Bond Debenture U.S. High Yield⁵ S&P 500⁶ Convertible Bonds⁷ Leveraged Loans⁸ Barclays Agg¹ 'Baa'-Rated³ Corporate⁴ Fund

1Bloomberg Barclays U.S. Aggregate Bond Index. 2Bloomberg Barclays U.S. Treasury U.S. TIPS Index. 3Bloomberg Barclays U.S. Corporate Baa-Rated Index. 4 ICE BofA Corporate BBB 1-3 year index. 5Bloomberg Barclays U.S. Corporate High Yield Index. 6S&P 500 Index. 7ICE BofA All Convertibles All Qualities Index. 8Credit Suisse Leveraged Loan Index. Source: Morningstar. Past performance is not a reliable indicator or guarantee of future results. Correlation is a statistic that measures the degree of association between two variables. For illustrative purposes only and does not represent any specific portfolio managed by Lord Abbett or any particular investment. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. 8 Strong Performance During Periods of Rising Yields RETURNS* DURING TEN RECENT PERIODS OF GREATER THAN 100 BPS RISE IN THE 10-YEAR U.S. TREASURY YIELD

Bloomberg 10-Year U.S. Barclays Short-Term Floating Rate High Yield Debenture Period Treasury1 Aggregate2 Corporates3 Loans4 Bonds5 Bonds6 S&P 5007 Fund8 09/30/1993 – -8.9% -3.0% 2.1% 11.3% 1.2% -2.7% 1.8% -0.6% 11/30/1994

01/31/1996 – -6.0% -1.8% 1.7% 4.8% 3.1% 5.4% 3.9% 3.2% 08/31/1996

09/30/1998 – -7.7% -0.6% 4.2% 4.9% 3.7% 41.4% 28.3% 6.1% 01/31/2000

06/30/2005 – -5.8% -0.8% 2.3% 6.7% 4.7% 9.4% 8.6% 4.1% 06/30/2006

12/31/2008 – -9.9% 5.9% 21.3% 44.9% 57.5% 49.1% 26.5% 35.4% 12/31/2009

08/31/2010 – -6.1% -0.8% 2.3% 7.4% 10.3% 19.2% 27.8% 11.1% 03/31/2011

07/31/2012 – -6.2% -1.1% 3.2% 7.0% 9.5% 22.9% 25.7% 9.3% 12/31/2013

06/30/2016 – -7.5% -2.5% 0.6% 5.4% 7.5% 8.3% 8.1% 6.0% 12/31/2016

8/31/2017 – -5.3% -2.1% 0.9% 5.1% 1.9% 5.8% 10.3% 0.9% 10/31/2018

7/31/2020 – -9.9% -3.6% 1.7% 8.0% 7.4% 30.8% 22.8% 7.7% 03/31/2021

1FTSE 10 Year Treasury Bond Index. 2Bloomberg Barclays U.S. Aggregate Bond Index. 3ICE BofA U.S. Corporate BBB-Rated 1-3 Year Index. 4 CS Leveraged Loan Index. 5ICE BofA U.S. High Yield Constrained Index. 6ICE BofA Convertibles Index. 7S&P 500 Index. 8Returns based on ‘F’ class at NAV. The Bond Debenture Fund’s performance at excludes sales charges. If sales charges, including any applicable contingent deferred sales charge (CDSC) had been included, performance would have been lower. The Class F share class expense ratio is 0.69%. Performance data quoted reflect past performance and are no guarantee of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. You can obtain performance data current to the most recent month end by calling Lord Abbett at (888) 522-2388 or referring to our website at lordabbett.com. Sharp market fluctuations can materially change the character of a mutual fund’s track record. It is possible that during any given time frame within the periods shown above the Fund may have had negative performance. Performance during other time periods may have been different or negative. Other indexes may not have performed in the same manner under similar conditions. Source: Morningstar. For illustrative purposes only. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. *Returns for periods of greater than one year have been annualized. 9 The Potential Benefits of Flexibility Returns across different bond sectors can vary significantly

U.S. FIXED-INCOME SECTOR RETURNS (AS OF 06/30/2021) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD 15.12 13.56 15.81 8.05 7.46 1.51 17.13 9.32 1.77 14.54 10.99 3.62 High Yield TIPS High Yield LBDFX Corporates MBS High Yield LBDFX ABS Corporates TIPS High Yield 13.24 9.81 13.50 7.44 6.08 1.25 12.46 7.50 1.34 14.32 9.89 3.48 LBDFX Treasury LBDFX High Yield MBS ABS LBDFX High Yield Agency High Yield Corporates Lev. Loans 9.98 8.15 9.82 6.15 5.97 1.01 9.88 6.42 1.14 13.64 8.00 3.08 Lev. Loans Corporates Corporates Lev. Loans Aggregate Agency Lev. Loans Corporates Lev. Loans LBDFX Treasury LBDFX 9.00 7.84 9.43 -0.27 5.05 0.84 6.11 4.25 0.99 8.72 7.57 1.73 Corporates Aggregate Lev. Loans ABS Treasury Treasury Corporates Lev. Loans MBS Aggregate LBDFX TIPS 6.54 6.23 6.98 -1.38 4.53 0.55 4.68 3.54 0.86 8.43 7.51 0.18 Aggregate MBS TIPS Agency LBDFX Aggregate TIPS Aggregate Treasury TIPS Aggregate ABS 6.31 5.14 4.21 -1.41 3.64 -0.38 2.65 3.01 0.01 8.17 7.11 -0.77 TIPS ABS Aggregate MBS TIPS Lev. Loans Aggregate TIPS Aggregate Lev. Loans High Yield MBS 5.87 4.98 3.66 -1.53 3.58 -0.68 2.03 2.47 -1.26 6.86 5.48 -0.80 Treasury High Yield ABS Corporates Agency Corporates ABS MBS TIPS Treasury Agency Agency 5.85 4.82 2.59 -2.02 2.45 -1.44 1.67 2.31 -2.08 6.35 4.52 -1.27 ABS Agency MBS Aggregate High Yield TIPS MBS Treasury High Yield MBS ABS Corporates 5.37 4.12 2.16 -2.75 2.06 -1.53 1.39 2.06 -2.51 5.89 3.87 -1.60 MBS LBDFX Agency Treasury Lev. Loans LBDFX Agency Agency Corporates Agency MBS Aggregate 4.36 1.82 1.99 -8.61 1.88 -4.47 1.04 1.55 -3.83 4.53 2.78 -2.58 Agency Lev. Loans Treasury TIPS ABS High Yield Treasury ABS LBDFX ABS Lev. Loans Treasury

10.76 11.74 13.82 16.66 5.58 5.98 16.09 7.77 5.60 10.01 8.21 6.18

Source: Bloomberg Index Services Limited and Credit Suisse. Sector returns shown are Bloomberg Barclays indexes as follows: U.S. Aggregate Bond Index, U.S. MBS Fixed Rate Index, U.S. Corporate Investment Grade Index, Index, U.S. Corporate High Yield Index, U.S. Treasury Index, U.S. TIPS Index, ABS Index, and U.S. Agency Index. Credit Suisse Leveraged Loan Index used for leveraged loans. Past performance is not a reliable indicator or guarantee of future results. Current performance may be higher or lower than the performance data quoted. This historical table is an illustration of the most commonly used indexes representative of various sectors of the and does not depict or predict the performance of any specific portfolio managed by Lord Abbett or any particular investment. Please note not all sectors are represented nor is this an asset allocation recommendation. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. 10 The Lord Abbett Bond Debenture Fund

A PIONEER IN MULTI-SECTOR A FLEXIBLE APPROACH TIME-TESTED RESULTS Five decades of multi-sector bond Diversified across sectors, with the A 50-year track record illustrates investing, emphasizing rigorous ability to adjust allocations to take performance in many market credit research advantage of opportunities environments

STRONG LONG-TERM PERFORMANCE VS. MAJOR FIXED-INCOME CATEGORY AVERAGES

Bond Debenture Fund High Yield Category Multi-Sector Category Intermediate Core-Plus Category 9.0%

7.60% 7.03% 6.77% 6.90% 6.41% 6.54% 6.07% 6.12% 6.05% 6.0% 5.77% 5.29% 4.86% 4.56% 4.19% 3.69% 3.81%

3.0%

0.0% 5 year 10 year 20 year 30 year

Data as of 06/30/2021. Source: Morningstar and Lord Abbett. Bond Debenture Fund performance is based on total return of Class F Shares at NAV, including the reinvestment of all distributions. Past performance is not a reliable indicator or guarantee of future results. Sharp market fluctuations can materially change the character of a mutual fund’s track record. It is possible that during any given time frame within the periods shown above the Fund may have had negative performance. Morningstar category averages reflect all share classes within the category and are based on total return and do not reflect the effect of sales charges. The Bond Debenture Fund is in the Morningstar Multi- Sector category. The other categories are shown for informational purposes only. 11 History, Experience and Resources

Long History Deep, Experienced Team . Five decades of multi-sector investing . Managed by a 67-person team . Longest track record in the Multi-Sector Bond . Demonstrated expertise across multiple fixed Category* (1971) income strategies . Collaborative team structure leverages collective firm-side insights

Significant Scale and Presence $168B IN GLOBAL FIXED INCOME AUM

Corporate Credit Structured Products Emerging Markets $102.3B $43.8B $6.9B

IG Corporate: $49.2B Commercial MBS: $12.7B EM Corporate: $5.2B HY Corporate: $37.1B ABS: $27.6B EM Sovereign: $1.7B Bank Loans: $16.0B Residential MBS: $3.5B

Fixed income assets under management data is as of 06/30/2021 unless noted and includes approximately $656.7 million for which Lord Abbett provides investment models to managed account sponsors. *Morningstar Multi-Sector Bond category. Team data as of 06/30/2021 unless otherwise noted. 12 Demonstrated Capabilities Across Multiple Strategies A multi-sector strategy that draws on the insights of a deep team of sector experts

Calendar Year Rankings (F Share Class) Morningstar Category 2012 2013 2014 2015 2016 2017 2018 2019 2020

Short Duration Income Short-Term Bond 8 5 21 17 10 11 31 25 76 Fund

Total Return Fund Intermediate Core Plus 35 38 19 68 24 40 66 72 69

Income Fund Corporate Bond 3 17 33 82 12 20 52 64 77

Bond Debenture Fund Multi-Sector Bond 23 5 2 19 4 7 88 3 27

Floating Rate Fund Bank Loan 27 26 24 21 36 26 44 58 90

High Yield Fund High Yield 21 11 9 27 16 11 93 17 62

EM Corporate Debt Fund Emerging Market Bond - - 3 5 71 77 31 43 38

EM Emerging Market Bond ------8 48

Data as of 12/31/2020. Source: Morningstar. Past performance is not a reliable indicator or guarantee of future results. Sharp market fluctuations can materially change the character of a mutual fund’s track record. It is possible that during any given time frame within the periods shown above the Funds may have had negative performance. Short Duration Income Fund ranked 33/413, 22/458, 108/524, 94/559, 50/522, 45/513, 125/530, 121/569, and 443/574; Total Return Fund ranked 406/1165, 412/1079, 199/1038, 710/1042, and 102/336; Income Fund ranked 36/1165, 25/145, 56/169, 146/177, and 427/602; Bond Debenture Fund ranked 66/283, 14/308, 13/731, 142/769 and 172/206; Floating Rate Fund ranked 55/203, 57/219, 58/245, 54/253, and 214/245; High Yield Fund ranked 125/598, 68/662, 67/731, 209/769, and 424/676; for the time periods 2012, 2013, 3014, 2015, 2016, 2017, 2018, 2019, and 2020, respectively. Emerging Markets Corporate Debt Fund ranked, 10/382, 20/402, 198,279, 228/295, 75/295, 124/269, and 124/274; for the time periods 2014, 2015, 2016, 2017, 2018, 2019, and 2020, respectively. Emerging Markets Bond Fund ranked 20/286 and 150/274 for 2019 and 2020. Morningstar category rankings reflect all share classes within the category and are based on total return and do not reflect the effect of sales charges. 13 Bond Debenture: A Multi-Sector Approach

Flexibility Diversification CURRENT PORTFOLIO ALLOCATION (AS OF 06/30/2021)

U.S. Non-U.S. U.S. High Yield Corporate 30.2% Non-U.S. High Yield U.S. Investment High Yield Investment Grade Corporate Grade Corporate U.S. Investment Grade Corporate 22.4% Corporate Corporate Equity 10.1% Bank Loans 7.7% Non-U.S. Investment Grade Corporate 7.3% Convertible Equity Securities Non-U.S. High Yield Corporate 5.7% Bond Debenture Fund Securities CMBS 4.7% CLO 4.3% Municipals 2.9% Commercial Asset-Backed Sovereign 2.8% Bank Loans Mortgage-Backed Sovereign Securities ABS 2.3% Securities MBS 0.2% Convertibles 0.1%

A Balanced Approach to Credit Attractive Yield to Versus Duration

Yield Duration 6.6 5.6 52% Investment Grade Investment 3.4 Grade Below Investment Grade 1.5

Bond Debenture Bloomerg Barclays U.S. Aggregate Index

Sources: Bloomberg Index Services Limited and Lord Abbett. Portfolio Characteristics as of 06/30/2021. The Fund’s portfolio is actively managed and subject to change. Allocations are reported as of the date a transaction is initiated; however, certain transactions may not settle until several days later. Past performance is not a reliable indicator or guarantee of future results. 14 Delivering a Positive Investor Experience Time-tested results

Strong Long-Term Performance STRONG PERFORMANCE VERSUS MULTI-SECTOR PEERS

As of 06/30/2021 1 YR 3 YR 5 YR 10 YR 15 YR

Bond Debenture Fund Class F 14.27% 7.02% 7.03% 6.41% 6.91%

Category Average* 9.23% 5.23% 4.63% 4.32% 5.49%

Excess return 5.04% 1.79% 2.40% 2.09% 1.42%

Percentile Ranking 6 (14/347) 11 (35/289) 2 (8/256) 2 (6/134) 3 (4/126)

Low Expenses

Bond Debenture Fund (Class F) 0.68%

Morningstar MultiSector Bond 0.97% Category Average

Data as of 06/30/2021. Source: Morningstar and Lord Abbett. *Morningstar Multisector Bond Category. Morningstar category averages and rankings reflect all share classes within the category and are based on total return and do not reflect the effect of sales charges. Past performance is not a reliable indicator or guarantee of future results. Performance data quoted reflect past performance and are no guarantee of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. You can obtain performance data current to the most recent month end by calling Lord Abbett at (888) 522-2388 or referring to our website at lordabbett.com. Fund performance is based on total return at NAV, including the reinvestment of all distributions. Sharp market fluctuations can materially change the character of a mutual fund’s track record. It is possible that during any given time frame within the periods shown above the Fund may have had negative performance. Morningstar category averages and rankings reflect all share classes within the category and are based on total return and do not reflect the effect of sales charges. 15 Delivering a Positive Investor Experience 78% of the return of the S&P 500, with 50% of the volatility

ATTRACTIVE LONG-TERM RISK/REWARD (07/01/2001 - 06/30/2021)

10.00%

9.00% S&P 500 Index 8.00% ICE BofA US High Yield Index

7.00% Lord Abbett Bond Debenture Fund (Class F) 6.00%

5.00%

Average Annual Return Average Barclays U.S. Aggregate Index 4.00%

3.00%

2.00%

1.00%

0.00% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% Standard Deviation

Data as of 06/30/2021. Source: Bloomberg Index Services Limited, S&P Dow Jones Indices and Lord Abbett. Bond Debenture Fund performance is based on total return of Class F Shares at NAV, including the reinvestment of all distributions. Past performance is not a reliable indicator or guarantee of future results. Sharp market fluctuations can materially change the character of a mutual fund’s track record. It is possible that during any given time frame within the periods shown above the Fund may have had negative performance. Indexes are unmanaged, do not reflect the deduction of fees and expenses, and are not available for direct investment. 16 A Long History of Growing Wealth for Investors Time-tested results

$6,000,000 $5,464,988 A hypothetical investment of $100,000 in the Bond Debenture Fund $5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000 $100,000

$0 1971 1972 1974 1976 1977 1979 1980 1982 1983 1985 1987 1988 1990 1991 1993 1995 1996 1998 1999 2001 2002 2004 2006 2007 2009 2010 2012 2014 2015 2017 2018 2020

1971 1974 1980 1990 2000 2008 2010 2020 Bond Recession Fed Funds Rate Drexel Bankruptcy Dot Com Global Median Multi- COVID-19 Debenture Reaches 20% Bubble Crash Financial Sector Bond Crisis Fund Crisis Fund Inception Inception Date Date

Based on hypothetical Class A share investment of $100,000 on 04/01/1971, at net asset value and includes the reinvestment of all distributions. Data as of 12/31/2020. Source: Lord Abbett. Past performance is not a reliable indicator or guarantee of future results. Sharp market fluctuations can materially change the character of a mutual fund’s track record. It is possible that during any given time frame within the periods shown above the Fund may have had negative performance. 17 Appendix

18 Bond Debenture: Performance Through the Years Time-tested results

BOND DEBENTURE FUND CALENDAR YEAR RETURNS CLASS A SHARE RETURNS AT NET ASSET VALUE (AS OF 12/31/2020)

1971* 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 7.7% 6.3% -9.8% -5.1% 29.6% 30.9% 7.0% 2.8% 7.0% 8.9% 5.3% 27.5% 16.9% 5.0% 21.0% 10.6% 1.9%

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 13.8% 5.1% -7.6% 38.3% 16.0% 16.0% -3.9% 17.5% 11.2% 12.7% 4.8% 3.9% -0.9% 4.9% -1.1% 20.3% 8.6%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1.6% 9.9% 5.3% -20.3% 35.4% 12.9% 3.9% 13.2% 7.8% 4.5% -1.7% 12.4% 9.2% -3.8% 13.4% 7.6%

*Return for the period of 04/01/1971 – 12/31/1971, the inception date of the Fund. Past performance is not a reliable indicator or guarantee of future results. Based on total return at net asset value, including the reinvestment of and capital gains, if any, but does not reflect deduction of any front-end sales charges (which are waived for certain defined contribution plans and certain mutual fund advisory programs). The maximum front-end sales charge applicable to Class A Shares is 5.75%. If those charges were deducted, the returns would be lower. All results are based on changes in net asset value and assume reinvestment of all distributions. Class A Shares purchased subject to a front- end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A Shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one-year anniversary of the purchase falls. The CDSC is not reflected in the Average Annual Total Returns. If the CDSC was included, performance would be lower. Please see the Prospectus for more information on redemptions that may be subject to a CDSC. Instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. You can obtain performance data current to the most recent month-end by calling Lord Abbett at 888-522-2388 or referring to lordabbett.com. 19 Adjustments to Credit Exposure Over Time Flexibility to adapt to the market environment

CREDIT QUALITY BREAKDOWN (12/31/2016 – 06/30/2021)

100%

90%

80%

70% AAA

60% AA A 50% BBB BB 40% B CCC 30% Not Rated

20%

10%

0% Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21

Source: Lord Abbett. For illustrative purposes only. The Fund’s portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings, may change significantly over time. Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer’s ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the creditworthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change. 20 Adjustments to Sector Allocations Over Time Access to a wide opportunity set

Major Sector Allocations Range As of January 2016 – June 2021 High Low (High - Low) Average 06/30/2021

Investment Grade Corporate 43.3 23.5 19.8 30.8 29.6

High Yield Corporate 50.8 26.8 24.0 39.0 35.9

Equity 16.1 5.5 10.6 11.5 10.1

Bank Loans 8.2 1.7 6.5 4.7 7.7

Sovereign 8.5 2.1 6.4 4.4 2.8

ABS 5.4 0.5 4.9 2.4 2.3

CMBS 5.2 0.0 5.2 2.5 4.7

Municipals 4.5 0.0 4.5 2.8 2.9

MBS 12.6 0.0 12.6 2.8 0.2

U.S. Government Related 6.9 0.0 6.9 1.2 0.0

Source: Lord Abbett. For illustrative purposes only. The Fund’s portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings, may change significantly over time. Major sectors are included for display purposes. 21 Fallen Angels Have Historically Provided Alpha Opportunity Price upside remains as many will likely look to achieve investment grade ratings again in coming years

CUMULATIVE RETURN DIFFERENCE BETWEEN FALLEN ANGEL INDEX AND BB HIGH YIELD 40% Difference (2002 cycle) 35% Difference (2008 cycle)

Difference (2016 cycle) 30% Difference (2020 cycle)

25%

20%

15%

10%

5%

0%

-5% 0 25 50 75 100 125 150 175 200 225 250 Trading Days Post Cycle Spread Wides

Source: ICE BofA US Fallen Angel High Yield Index and the ICE BofA BB US High Yield Constrained Index. T=0 is defined as spread wide for each respective cycle: October 11, 2002; December 19, 2008, February 11, 2016 and March 23, 2020. Past performance is not a reliable indicator or guarantee of future results. Due to market volatility, the asset classes depicted in this chart may not perform in a similar manner in the future. For illustrated purposes only and does not represent any specific portfolio managed by Lord Abbett or any particular investment. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. 22 Important Information Morningstar Information The Morningstar Intermediate-Term Bond Average represents funds that focus on corporate, government, foreign, or other issues with an average duration of greater than or equal to 3.5 years but less than or equal to six years, or an average effective maturity of more than four years but less than 10 years. The Morningstar Multisector Bond Average represents funds that seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities. The Morningstar High-Yield Bond Average represents funds with at least 65% of assets in bonds rated below BBB. ©2021 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fund rankings within the Morningstar Multi Sector Bond Category, which may change monthly, are based on total returns calculated by the ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any. Morningstar total return percentile rankings for the specified periods are relative to all funds that have the same investment categories. The highest (or most favorable) percentile rank is 1, and the lowest (or least favorable) percentile rank is 100. Index Information Indexes are unmanaged, do not reflect the deduction of fees or expenses, and an investor cannot invest directly in an index.

Bloomberg Barclays Index Information ICE BofA Index Information: Source: ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofA INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofA INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES. Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). BARCLAYS® is a trademark and service mark of Barclays Bank Plc (collectively with its affiliates, “Barclays”), used under license. Bloomberg or Bloomberg’s licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Neither Bloomberg nor Barclays approves or endorses this material or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith. The Bloomberg Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. The ICE BofA US High Yield Index tracks the performance of US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. The FTSE 10 Year Treasury Bond Index is a broad measure of the performance of the medium-term U.S. Treasury securities.

23 Important Information The S&P 500® Index is widely regarded as the standard for measuring large cap U.S. market performance and includes a representative sample of leading companies in leading industries. Performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in any fund will fluctuate as the prices of the individual securities in which they invest fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Different investments carry different risk. A Note about Risk Bond Debenture Fund: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of your investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Longer-term debt securities are usually more sensitive to interest-rate changes; the longer the maturity of a security, the greater the effect a change in interest rates is likely to have on its price. The Fund may make substantial investments in high-yield debt securities and may invest in senior loans which may be primarily below-investment-grade. High-yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in timely payment of interest and expenses. The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy. Convertible securities are subject to the risks affecting both equity and fixed-income securities, including market, credit, liquidity, and interest rate risk. These factors can affect Fund performance.

24 Important Information Glossary Standard deviation is a measure of volatility. Applied to an asset’s return, it provides a measure of the range of those returns. A higher standard deviation means a greater range of returns. Duration is a measure of the sensitivity of the price of a fixed-income asset to a change in interest rates and is expressed in years. Effective Duration is the change in the value of a fixed-income security that will result from a 1% change in market interest rates. Treasury yield is the return on investment on the U.S. government’s debt obligations such as bonds, notes and bills. The information provided is not directed at any investor or category of investors and is provided solely as general information about Lord Abbett’s products and services and to otherwise provide general investment education. None of the information provided should be regarded as a suggestion to engage in or refrain from any investment-related course of action as neither Lord Abbett nor its affiliates are undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity. If you are an individual retirement investor, contact your financial professional (registered representatives of broker-dealers and associated persons of registered investment advisers) or other fiduciary about whether any given investment idea, strategy, product or service may be appropriate for your circumstances. Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in the fund’s summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional, Lord Abbett Distributor LLC at (888) 522-2388 or visit us at lordabbett.com. Read the prospectus carefully before you invest. Mutual funds are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by banks, and are subject to investment risks including possible loss of principal amount invested. Lord Abbett Distributor LLC is the principal underwriter of the Lord Abbett Mutual Funds.

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