Company: ELV
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-199226
Chunk: 25

Company: Elevance Health, Inc.
Filing Date: 2025-09-09
Form: 424B3
Chunk 25
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 financial institutions; |

| • |     | insurance companies; |

| • |     | dealers in securities; |

| • |     | traders in securities that elect a       
 mark-to-market method of tax accounting; |

| • |     | persons holding notes as part of a hedge, “straddle,” integrated transaction or similar transaction; |

| • |     | U.S. Holders (as defined below) whose functional currency is not the U.S. dollar; |

| • |     | partnerships or other entities classified as partnerships for U.S. federal income tax purposes; |

| • |     | tax-exempt entities; |

| • |     | persons subject to the alternative minimum tax; or |

| • |     | accrual method taxpayers required to recognize income no later than when such income is taken into account for 
 financial accounting purposes.                                                                                 |

If an entity that is classified as a partnership for U.S. federal income tax purposes holds notes, the U.S. federal income tax treatment of a partner will generally depend upon the status of the partner and the activities of the partnership. Partnerships holding notes and partners in such partnerships should consult their tax advisors as to the particular U.S. federal income tax consequences to them of holding and disposing of the notes. This summary is based on the Internal Revenue Code of 1986, as amended, or the Code, administrative pronouncements, judicial decisions and final, temporary and proposed Treasury Regulations, changes to any of which subsequent to the date of this prospectus supplement may affect the tax consequences described herein. This summary is not binding on the courts or the Internal Revenue Service, or the IRS, and there can be no assurance that the IRS will not challenge one or more of the tax consequences described herein, and we have not obtained, nor do we intend to obtain, a ruling from the IRS with respect to the U.S. federal income tax consequences of purchasing, owning or disposing of the notes. Persons considering the purchase of notes are urged to consult their tax advisors with regard to the application of the U.S. federal income tax laws to their particular situations as well as any tax consequences arising under the laws of any state, local or foreign taxing jurisdiction. This discussion does not address the effect of any federal taxes other than income taxes (e.g., federal estate or gift taxes or the Medicare tax on certain investment income) or any state, local or foreign taxes. Repurchase Upon a Change of Control We intend to take the position that the possibility of the payment of additional amounts above the principal