Company: ELV
Filing Date: 2025-09-08
Form Type: 424B3
Source: 0001193125-25-197796
Chunk: 61

Company: Elevance Health, Inc.
Filing Date: 2025-09-08
Form: 424B3
Chunk 61
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 of, premium, if any, or interest on the subordinated debt securities. No payments on account of principal, or any premium or interest, in respect of the subordinated debt securities may be made if:

| • |     | there has occurred and is continuing a default in any payment with respect to Senior Debt; or |

| • |     | there has occurred and is continuing an Event of Default with respect to any Senior Debt resulting in the 
 acceleration of, or permitting the holder or holders thereof to accelerate, the maturity thereof.         |

“Senior Debt” means the principal of, and any premium and interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to us, whether or not such claim for post-petition interest is allowed in such proceeding) on our Debt, whether incurred on, before or after the date of the subordinated note indenture, unless the instrument creating or evidencing the Debt or under which the Debt is outstanding provides that obligations created by it are not superior in right of payment to the subordinated debt securities. “Debt” means, with respect to any person, whether recourse is to all or a portion of the assets of that person and whether or not contingent:

| • |     | every obligation of that person for money borrowed; |

| • |     | every obligation of that person evidenced by bonds, debentures, notes or other similar instruments, including 
 obligations incurred in connection with the acquisition of property, assets or businesses;                    |

| • |     | every reimbursement obligation of that person with respect to letters of credit, bankers’ acceptances or 
 similar facilities issued for the account of that person;                                                |

| • |     | every obligation of that person incurred in connection with the acquisition of property or services, but 
 excluding trade accounts payable or accrued liabilities arising in the ordinary course of business;      |

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| • |     | every capital lease obligation of that person; and |

| • |     | every obligation of the type referred to above of another person and all dividends of another person the payment                                         
 of which, in either case, such person has guaranteed or for which such person is responsible or liable, directly or indirectly, as obligor or otherwise. |

The indentures will place no limitation on the amount of additional Senior Debt that we may incur. Events of Default Each indenture defines an Event of Default with respect to any series of debt securities. Unless otherwise provided in the applicable prospectus supplement, Events of