Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 74

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 74
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 our identified median employee for purposes of calculating the CEO pay ratio.

Using the identified median employee, we calculated that employee’s annual total compensation consistent with the disclosure requirements for the Summary Compensation Table.

The SEC’s rules for identifying the median compensated employee and calculating the pay ratio based on that employee’s annual total compensation allow companies to adopt a variety of methodologies, to apply certain exclusions and to make reasonable estimates and assumptions that reflect their employee populations and compensation practices. As a result, the pay ratio reported by other companies may not be comparable to the pay ratio reported above, as other companies have different employee populations and compensation practices and may utilize different methodologies, exclusions, estimates and assumptions in calculating their own pay ratios.

#### 2025 Proxy Statement67

#### Executive Compensation

#### Pay versus Performance

#### Pay versus Performance Table
| Year                        
 Total Shareholder Return(2) |     | Summary Compensation Table Total for Principal Executive Officer (“PEO”)(1) 
 Peer Group Total Shareholder Return(2)(3)                                   |     |   |            |     | Compensation Actually Paid to PEO(1) |     |   |            |     | Average Summary Compensation Table Total for Non-PEO NEOs(1) |     |   |           |     | Average Compensation Actually Paid to Non-PEO NEOs(1) |     |   |            |     | Value of Initial Fixed $100 Investment Based On: |     |     |     |     | Net Income(4)(millions) |     |   |       |     | Adjusted Net Income(5) 
 (millions)             |     |   |       |
|:----------------------------|:----|:----------------------------------------------------------------------------|:----|:--|-----------:|:----|:-------------------------------------|:----|:--|-----------:|:----|:-------------------------------------------------------------|:----|:--|----------:|:----|:------------------------------------------------------|:----|:--|-----------:|:----|:-------------------------------------------------|:----|----:|:----|----:|:------------------------|:----|:--|------:|:----|:-----------------------|:----|:--|------:|
| 2024                        |     |                                                                             |     | $ | 20,471,976 |     |                                      |     | $ | -3,957,314 |     |                                                              |     | $ | 6,325,173 |     |                                                       |     | $ |   -