Company: ELV
Filing Date: 2025-09-08
Form Type: 424B3
Source: 0001193125-25-197796
Chunk: 57

Company: Elevance Health, Inc.
Filing Date: 2025-09-08
Form: 424B3
Chunk 57
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, it must be approved by the holders of not less than a majority in principal amount of the debt securities of each series affected by the change. In each case, the required approval must be given by 
 written consent. Most changes fall into this category.                                                                                                                                                                                              |

The same vote would be required for us to obtain a waiver of a past default. However, we cannot obtain a waiver of a payment default or any other aspect of the applicable indenture or the debt securities listed in the first category described previously under “ Changes Requiring Your Approval” unless we obtain your individual consent to the waiver. Further Details Concerning Voting. Debt securities will not be considered outstanding, and therefore not eligible to vote, if we have deposited or set aside in trust for you money for their payment or redemption. Debt securities will also not be eligible to vote if they have been fully defeased as described later under “ Defeasance—Full Defeasance.” We will generally be entitled to set any day as a record date for the purpose of determining the holders of outstanding debt securities that are entitled to vote or take other action under the applicable indenture. In certain limited circumstances, the trustee will be entitled to set a record date for action by holders. If we or the trustee set a record date for a vote or other action to be taken by holders of debt securities, that vote or action may be taken only by persons who are holders of outstanding debt securities on the record date and must be taken within 180 12

days following the record date or another period that we may specify (or as the trustee may specify, if it set the record date). We may shorten or lengthen (but not beyond 180 days) this period from time to time. Conversion and Exchange Rights The debt securities of any series may be convertible into or exchangeable for other securities of Elevance Health or another issuer or property or cash on the terms and subject to the conditions set forth in the applicable prospectus supplement. In particular, the prospectus supplement will specify:

| • |     | the type of securities into which the debt security may be converted or exchanged; |

| • |     | the conversion price or exchange ratio, and its method of calculation; |

| • |     | whether conversion or exchange is mandatory or at your election; and |

| • |     | how the conversion price or exchange ratio may be adjusted if our debt securities are redeemed. |

Defeasance The indentures include provisions allowing defeasance of the debt securities, which means