Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 39

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 39
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|                                  |     | Advance, mobilize, and retain key talent that is fit for purpose with our evolving business needs |     | Rebuild processes end-to-end and deploy digital and AI to fundamentally transform our business and simplify how we serve consumers and care providers |     | Expand beyond our Blue markets and integrate new businesses into our health plans and Carelon to improve quality and lower cost for customers |     | Be an active partner, going beyond the contract to create a real impact on health - together |
|                                  |     |                                                                                                   |     | Culture Connected to Strategy                                                                                                                         |     |                                                                                                                                               |     |                                                                                              |

| Values |

| 42 |

#### Executive Compensation

#### 2024 Performance Highlights
Elevance Health navigated a challenging and dynamic operating environment in 2024, taking strategic actions to deliver operational efficiencies and appropriately manage cost of care issues facing the industry. We invested to position Elevance Health for strong growth over the long term, including diligently executing on our growth strategy across our health benefits business, making significant progress in scaling for growth in Carelon, our health services division, and expanding our CarelonRx pharmacy customer base while diversifying its value proposition. In 2024, we completed the acquisitions of a home healthcare company and an ambulatory and home infusion services company, and also partnered to create a national care delivery platform focused on expanding access to comprehensive primary care, all of which continued to expand our healthcare services and capabilities.

| Members                    |     | 45.7 Million                                        |
| Cash Dividends Paid        |     | $6.52 per share                                     
 (up 10.1% from 2023)                                |
| Income before Income Taxes |     | $7.9 Billion                                        |
| Operating Gain*            |     | $7.9 Billion                                        |
| Returned to Shareholders   |     | $4.4 Billionthrough share repurchases and dividends |

* Please refer to the GAAP reconciliation table in Annex A for the reconciliation of these measures to GAAP.

#### 2025 Proxy Statement43

#### Executive Compensation

#### Compensation Governance Practices
The Committee maintains what it believes are leading practices for executive compensation, each of which reinforces the Company’s compensation philosophy and objectives. Below is a summary of these practices:

| What We Do |     |                                                                                                                                                                                                                             |
|            |     | Rigorous establishment and oversight of incentive measures, goals and pay/performance relationship                                                                                                                          |
|            |     | Align executive compensation with shareholder returns through a