Elevance Health — Jul 17, 2025 release

As of June 30, 2025, cash and investments at the parent company totaled approximately $2.2 billion. During the second quarter of 2025, the Company repurchased 0.9 million shares of its common stock for $379 million, at a weighted average price of $410.05, and paid a quarterly dividend of $1.71 per share, representing a distribution of cash totaling $385 million. As of June 30, 2025, the Company had approximately $8.0 billion of Board approved share repurchase authorization remaining. 2 Health Benefits is comprised of Individual, Employer Group risk-based, Employer Group fee-based, BlueCard ® , Medicare, Medicaid, and Federal Employee Program businesses. Health Benefits Reportable Segment Highlights (Unaudited) (In billions) Three Months Ended June 30, 2025 June 30, 2024 Operating Revenue 1 $41.6 $37.2 Operating Gain 1,2 $1.6 $2.1 Adjusted Operating Gain 1,3 $1.6 $2.2 Operating Margin 1 3.8  % 5.8  % Adjusted Operating Margin 1 3.8  % 5.8  % 1. See “Basis of Presentation” on page 5 herein. 2. Operating Gain for the three months ended June 30, 2024, includes items that are excluded from adjusted shareholders' net income. See "GAAP Reconciliation" on pages 13 and 14 herein. 3. Adjusted Operating Gain for the three months ended June 30, 2024, excludes $15 million of 2024 business dispositions and related items adjusted out of adjusted shareholders' net income for the Health Benefits segment. Health Benefits segment operating revenue was $41.6 billion in the second quarter of 2025, an