Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 4

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 4
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 |                             |     | For Further Details |
| 1         |     | Election of Three Directors                                                                           |     |                           |     | “FOR” each director nominee |     | Page12              |
| 2         |     | Advisory Vote to Approve the Compensation of Our Named Executive Officers (“Say-on-Pay”)              |     |                           |     | “FOR”                       |     | Page40              |
| 3         |     | Ratification of Ernst & Young LLP as Auditors for 2025                                                |     |                           |     | “FOR”                       |     | Page70              |
| 4         |     | Shareholder ProposalRequesting Report on the Effectiveness of Diversity, Equity and Inclusion Efforts |     |                           |     | “AGAINST”                   |     | Page73              |

Shareholders will also act on other business properly presented at the Annual Meeting.

The Annual Meeting will be held in a virtual format only, via live audio webcast. If you held shares of Elevance Health common stock as of March 17, 2025 (the "Record Date"), you may vote, submit questions and view the list of our shareholders of record during the Annual Meeting. Please see additional information on the Annual Meeting beginning on page 78.

Your vote is important. Even if you plan to participate in the Annual Meeting, we encourage you to vote your shares prior to the meeting by one of the methods shown below.

By Order of the Board of Directors,

#### Kathleen S. Kiefer
Chief Governance Officer & Corporate Secretary

| You can vote in any of the following ways: |     |                                                                                        |     |                                             |     |                                                                         |     |                                                                                           |     |                                                     |
|                                            |     | Smartphone                                                                             
 Scan the QR code located on your proxy card, E-Proxy Notice or voting instruction form |     | Online                                      
 Visit the websitelisted on your proxy card, 
 E-Proxy Notice or voting instruction form   |     | Telephone                                                               
 Call the telephone number on your proxy card or voting instruction form |     | Mail                                                                                      
 Sign, date and return your proxy card or voting instruction form in the envelope provided |     | Online During the Annual Meeting                    
 Log in to the live webcast with your control number |

#### 2025 Proxy Statement3
Table of Contents

| Joint Message from Our Independent Chair and CEO                       |     |                                                                                        |     |  1 |
| Notice of Annual Meetingof Shareholders                                |     |