Elevance Health — Oct 17, 2024 release

REPORTS THIRD QUARTER 2024 RESULTS • 3Q 2024 operating revenue of $44.7 billion • 3Q 2024 adjusted operating gain 1 of $2.4 billion • 3Q 2024 diluted EPS 2 of $4.36; adjusted diluted EPS 1 of $8.37 • 4Q 2024 dividend of $1.63 per share declared to shareholders Indianapolis, IN - October 17, 2024 - Elevance Health, Inc. (NYSE: ELV) reported third quarter 2024 results. “We remain confident in the long-term earnings potential of our diverse businesses as we navigate a dynamic operating environment and unprecedented challenges in the Medicaid business. We expect Medicaid rates will align with the needs of our members in time, and are taking proactive actions to enhance operational efficiencies that will ensure we emerge from this period even stronger.” Gail K. Boudreaux President and Chief Executive Officer Given third quarter results and the timing mismatch between Medicaid rates and acuity, Elevance Health now expects 2024 GAAP net income per diluted share to be approximately $26.50 and adjusted net income per diluted share to be approximately $33.00. 1. Refer to GAAP reconciliation tables on pages 13 and 14 herein for reconciliation of GAAP to adjusted measures. 2. Earnings per diluted share ("EPS"). 1 Elevance Health Consolidated Enterprise Highlights (Unaudited) (In billions) Three Months Ended September 30, 2024 September 30, 2023 June 30, 2024 Operating Revenue 1 $44.7 $42.5 $43.2 Operating Gain 1,2 $1.4 $1.8