ELV · Elevance Health, Inc.

Elevance Health, Inc. (NYSE: ELV) today announced management changes designed to simplify decision-making and strengthen execution across Carelon and Health Benefits. As part of these changes, Mark Kaye, Executive Vice President and Chief Financial Officer, will expand his responsibilities to include oversight of Carelon, the Company’s healthcare services operations including pharmacy services, behavioral health, value-based care, and care delivery capabilities. Carelon plays a critical role in advancing the Company’s strategy to lower the cost of care. Carelon’s operating priorities and client commitments remain unchanged. Felicia Norwood, Executive Vice President and Chief Health Benefits Officer, will assume responsibility for the Company’s consolidated Health Benefits organization, bringing together the Company’s major Health Benefits businesses and core operating functions under a single accountable structure. This consolidation enhances coordination across Commercial and

4Q 2025 operating revenue of $49.3 billion; FY 2025 of $197.6 billion 4Q 2025 diluted EPS1 of $2.47; adjusted diluted EPS2 of $3.33 FY 2025 diluted EPS1 of $25.21; adjusted diluted EPS2 of $30.29 Projected FY 2026 GAAP diluted EPS1 to be at least $22.30 Projected FY 2026 adjusted diluted EPS2 to be at least $25.50 Returned $4.1 billion of capital to shareholders in 2025 Reaffirming long-term earnings algorithm; recalibrating segment margin targets Elevance Health, Inc. (NYSE: ELV) reported fourth quarter and full year 2025 results. "Elevance Health delivered fourth quarter results in line with our outlook, reflecting disciplined execution in a dynamic environment. As we enter 2026, our focus is on advancing affordability and making healthcare easier to access and navigate for the members we serve. Through pricing discipline and targeted investments, we are strengthening the earnings power of our diversified platform and remain confident in our ability to return to at least 12%