Elevance Health — Oct 17, 2024 release

As of September 30, 2024, the Company had approximately $3.1 billion of Board approved share repurchase authorization remaining. On October 15, 2024, our Audit Committee, pursuant to authorization granted by the Board of Directors, authorized an $8.0 billion increase to the common stock repurchase program. The Company intends to utilize this authorization over a multi-year period, subject to market and industry conditions. 2 Health Benefits is comprised of Individual, Employer Group risk-based, Employer Group fee-based, BlueCard ® , Medicare, Medicaid, and Federal Health Products & Services businesses. Health Benefits Reportable Segment Highlights (Unaudited) (In billions) Three Months Ended September 30, 2024 September 30, 2023 June 30, 2024 Operating Revenue 1 $38.3 $36.7 $37.2 Operating Gain 1 $1.6 $1.8 $2.1 Operating Margin 1 4.2  % 5.0  % 5.8  % 1. See “Basis of Presentation” on page 5 herein. Health Benefits segment operating revenue was $38.3 billion in the third quarter of 2024, an increase of $1.5 billion compared to the prior year quarter, driven primarily by higher premium yields, partially offset by membership attrition in our Medicaid business. Operating gain totaled $1.6 billion, impacted primarily by the unfavorable mix shift in Medicaid membership related to eligibility redeterminations, partially offset by premium rate increases, focused medical management, and the proactive actions we are taking to enhance operating