Company: ELV
Filing Date: 2025-04-14
Form Type: PX14A6G
Source: 0001214659-25-005850
Chunk: 1

Company: Elevance Health, Inc.
Filing Date: 2025-04-14
Form: PX14A6G
Chunk 1
---
 is experiencing discrimination and how it should be addressed. More than ever,
companies need to be able to illustrate that they host a workplace free of discrimination that allows the best talent to thrive.

DISCUSSION

Investors are seeking data to understand if Elevance’s workplace
is one where all employees can contribute to the Company’s success based on merit. Well managed diversity, equity, and inclusion
programs do not place people into roles they don’t deserve; they are focused on ensuring that the bias and discrimination that exist
in America does not harm the company’s ability to hire, advance, and retain the best possible employees.

_____________________________

https://www.pewresearch.org/race-and-ethnicity/2024/06/15/racial-discrimination-shapes-how-black-americans-view-their-progress-and-u-s-institutions-2/;
https://academic.oup.com/qje/article-abstract/137/4/1963/6605934; https://academic.oup.com/qje/article-abstract/133/1/191/4060073; https://www.pnas.org/doi/full/10.1073/pnas.1706255114;
https://www.shrm.org/topics-tools/news/inclusion-diversity/gender-bias-2024-survey

| 2025                                                                                                                        
 Proxy Memo                                                                                                                  
 Elevance Health In| Shareholder Proposal Requesting a Report on Effectiveness of Efforts to Create a Meritocratic Workplace |

Effective human capital management does not advantage one group over another, nor does it disadvantage one group over another.

The U.S. Supreme Court’s June 2023, decision striking down affirmative
action in university admissions, alongside the January 2025 Executive Order 14173 shifted the political and legal landscape
in which companies operate, placing significantly more scrutiny on workplace programs that may advantage specific groups. The Equal Employment
Opportunity Commission (EEOC) issued clarifying guidance in March, 2025, reaffirming that Title VII of the Civil Rights Act of 1964 continues
to prohibit “discrimination based on protected characteristics such as race and sex.” The EEOC emphasized that disparate treatment
of workers, such as exclusion from training, mentorship, or networking events on the basis of a protected characteristic was not allowed.
This includes employee affinity groups, and trainings, as well as any employment decision based on the bias of customers.

Companies’ obligations to workplaces free of discrimination and
harassment have not changed. Companies have