Elevance Health — Apr 22, 2026 release

matter • FY 2026 adjusted diluted EPS 2 guidance raised to at least $26.75, supported by underlying business strength, actions to reduce medical costs, and increased visibility • Reaffirm FY 2026 operating cash flow of at least $5.5 billion, inclusive of potential cash payments for the CMS matter • Returned $1.5 billion of capital to shareholders in 1Q 2026 Indianapolis, IN - April 22, 2026 - Elevance Health, Inc. (NYSE: ELV) reported first quarter 2026 results ahead of expectations. "Our first quarter results exceeded expectations, reflecting underlying business strength and improving claims experience. We are raising our full-year adjusted EPS guidance, supported by greater visibility into the balance of the year. Our actions are driving more consistent performance and position Elevance Health for continued improvement over time.” Gail K. Boudreaux President and Chief Executive Officer 1. Earnings per diluted share ("EPS"). 2. Refer to GAAP reconciliation tables on pages 13 and 14 herein for reconciliation of GAAP to adjusted measures. 1 Elevance Health Consolidated Enterprise Highlights (Unaudited) (In billions) Three Months Ended March 31, 2026 March 31, 2025 Operating Revenue 1 $49.5 $48.8 Operating Gain 1,2 $2.1 $3.2 Adjusted Operating Gain 1,3 $3.2 $3.3 Operating Margin 1 4.2  % 6.5  % Adjusted Operating Margin 1,3 6.5  % 6.7  % 1. See “Basis of Presentation” on page 5 herein. 2. Operating Gain for the three m