Company: ELV
Filing Date: 2025-09-08
Form Type: 424B3
Source: 0001193125-25-197796
Chunk: 26

Company: Elevance Health, Inc.
Filing Date: 2025-09-08
Form: 424B3
Chunk 26
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 applicable Treasury Regulations. Our position is not, however, binding on the IRS, and if the IRS were to challenge this position, you might be required to use the accrual method, even if you were otherwise a cash method taxpayer, to accrue income on the notes in excess of the stated interest on the notes, and to treat as ordinary income rather than capital gain any income that you realize on the taxable disposition of a note. The remainder of this discussion assumes that the notes will not be considered contingent payment debt instruments. Tax Consequences to U.S. Holders As used herein, the term “ U.S. Holder” means a beneficial owner of a note that is, for U.S. federal income tax purposes:

| • |     | an individual citizen or resident of the United States; |

| • |     | a corporation, or other entity treated as a corporation for U.S. federal income tax purposes, created or 
 organized in or under the laws of the United States, any State thereof or the District of Columbia;      |

| • |     | an estate the income of which is subject to U.S. federal income taxation regardless of its source; or |

Payments of interest It is anticipated, and the following discussion assumes, that the notes will be issued in this offering with no more than a de minimisamount of original issue discount. Interest payable on a note will be taxable to a U.S. Holder as ordinary interest income at the time it accrues or is received in accordance with the U.S. Holder’s method of accounting for U.S. federal income tax purposes. Sale, exchange or other disposition of the notes Upon the sale, exchange or other taxable disposition of a note, a U.S. Holder will recognize taxable gain or loss equal to the difference between the amount realized on the sale, exchange or other taxable disposition and the U.S. Holder’s tax basis in the note (generally the price paid by the U.S. Holder to purchase the note). For these purposes, the amount realized does not include an amount equal to the accrued but unpaid interest on the note, which will be treated as interest as described under “ Payments of interest” above. Gain or loss realized on the sale, exchange or other taxable disposition of a note will generally be capital gain or loss and will be long-term capital gain or loss if at the time of the sale, exchange or other taxable disposition the note has been held by the U.S. Holder for more than one year. Long-term capital gains recognized by non-corporateU