Elevance Health

During the third quarter of 2025, the Company repurchased 2.9 million shares of its common stock for $875 million, at a weighted average price of $303.48, and paid a quarterly dividend of $1.71 per share, representing a distribution of cash totaling $381 million.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

As of September 30, 2025, the Company had approximately $7.2 billion of Board approved share repurchase authorization remaining.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

4 Quarterly Dividend On October 15, 2025, the Audit Committee of the Company s Board of Directors declared a fourth quarter 2025 dividend to shareholders of $1.71 per share.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

The fourth quarter dividend is payable on December 19, 2025, to shareholders of record at the close of business on December 5, 2025.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

It does not include net investment income, net gains/losses on financial instruments, interest expense, amortization of other intangible assets, gains/losses on extinguishment of debt or income taxes, as these items are managed in a corporate shared service environment and are not the responsibility of operating segment management.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

It does not include net investment income, net gains/losses on financial instruments, interest expense, amortization of other intangible assets and gains/losses on extinguishment of debt or income taxes, as these items are managed in a corporate shared service environment and are not the responsibility of operating segment management.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

In a dynamic healthcare environment, we re focused on advancing affordability and elevating the member experience through our growing value-based care partnerships and AI-enabled digital solutions that simplify access and improve outcomes.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

We also conduct business through arrangements with other BCBS licensees as well as other strategic partners.

SEC original ↗Elevance Health — 10-Q Quarterly report10-QOct 21, 2026

Operating Model Transformation In the first quarter of 2026, based on a strategic review of our operations, assets and investments, management implemented the 2026 - 2027 Operating Model Transformation Program (the Transformation Program ) to streamline decision-making, simplify organizational structures, and enhance the use of advanced technologies, including artificial intelligence, across the enterprise.

SEC original ↗Elevance Health — 10-Q Quarterly report10-QOct 21, 2026

The Transformation Program includes initiatives to reduce organizational layers, realign roles and responsibilities, and design workflows to support more efficient, technology-enabled operations.

SEC original ↗Elevance Health — 10-Q Quarterly report10-QOct 21, 2026

Cash Flow & Balance Sheet Operating cash flow was $4.2 billion year-to-date, or 0.8 times GAAP net income, a decrease of $0.9 billion year over year reflecting in part the Provider Settlement Agreement payment for the multi-district BCBSA litigation.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Operating Gain for the three and nine months ended September 30, 2024, included $42 and $158 million, respectively, of transaction and integration related costs, $669 and $680 million, respectively, of litigation and settlement expenses, and $268 and $268 million, respectively, of business optimization charges, all of which reside in the Corporate & Other reportable segment.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Operating Gain for the three and nine months ended September 30, 2025, included $49 and $182 million, respectively, of transaction and integration related costs, $4 and $19 million, respectively, of litigation and settlement expenses, and ($4) and ($4), respectively, of business optimization charges, all of which reside in the Corporate & Other reportable segment.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements.

SEC original ↗Elevance Health — Earnings release (8-K exhibit)EX-99Oct 21, 2025

LEGAL PROCEEDINGS 53 ITEM 1A.

SEC original ↗Elevance Health — 10-Q Quarterly report10-QOct 21, 2026

Entities must evaluate whether there is significant development uncertainty, such as unresolved novel functionality or substantially revised performance requirements, before meeting this capitalization threshold.

SEC original ↗Elevance Health — 10-Q Quarterly report10-QOct 21, 2026