Elevance Health — Jul 15, 2026 release

Accelerating targeted investments in capabilities that lower healthcare costs, simplify the member and provider experience, and strengthen Carelon's integrated solutions • FY 2026 operating cash flow guidance raised to at least $6.0 billion Indianapolis, IN - July 15, 2026 - Elevance Health, Inc. (NYSE: ELV) reported second quarter 2026 results ahead of expectations. "Our second quarter results exceeded our outlook, supported by disciplined execution and improved operating performance across our diversified portfolio. We are raising our 2026 adjusted EPS guidance to at least $27.00 and accelerating targeted investments in the capabilities that matter most: medical cost management, member experience, provider connectivity, operating efficiency, and Carelon’s value-based solutions. These actions will strengthen how we operate, improve consistency over time, and reinforce our confidence in returning to at least 12% adjusted EPS growth in 2027 off our 2026 earnings baseline.” Gail K. Boudreaux President and Chief Executive Officer 1. Earnings per diluted share ("EPS"). 2. Refer to GAAP reconciliation tables on pages 13 and 14 herein for reconciliation of GAAP to adjusted measures. 1 Elevance Health Consolidated Enterprise Highlights (Unaudited) (In billions) Three Months Ended June 30, 2026 June 30, 2025 Operating Revenue 1 $49.8 $49.4 Operating Gain 1,2 $1.8 $2.4 Adjusted Operating Gain 1,3 $1.8 $2.5 Operating Margin 1