Letter from George A. Schaefer, Jr., Lead Director

Dear Fellow Anthem Shareholders,

Thank you for your investment in Anthem and for trusting us to oversee your interests. Your Board's mission is to represent the interests of all shareholders, not in the short term, but with a long-term perspective. We believe your interests are best served when the Company achieves sustainable results in a responsible manner. The Board is actively engaged in overseeing Anthem's business strategies and performance to meet this objective. I am pleased to share specific actions that the Board has taken in the past year.

Chief Executive Officer Succession & Independent Chair

One of your Board's most important responsibilities is to ensure an orderly and stable CEO succession process. To that end, in November 2017, we unanimously elected Gail K. Boudreaux to succeed Joseph R. Swedish as CEO and President, with Joe continuing to serve as Executive Chair of the Board until May 2018. The Board would like to recognize Joe for his significant contributions to the Company's success over the past five years.

We have determined that upon Joe's retirement, the Board will be led once again by an independent Chair. In February 2018, we announced that Elizabeth E. Tallett, who is currently Chair of the Governance Committee, will assume the independent Chair of the Board position.

Board Skills, Diversity & Refreshment

Board succession planning is also essential to the Company's success. As Lead Director, I have the privilege to work with a highly qualified and diverse group of Board colleagues who bring thought leadership, perspective and accountability to their roles in overseeing the talented executive team at Anthem. Refreshing your Board with new perspectives and ideas is critical to ensuring that it remains strategic and forward-looking.

Over the past year, three new Directors have joined the Board and one Director has retired. In addition to Gail, who was appointed to the Board following her election as President and CEO, we are pleased to welcome new Board members Antonio Neri and Bahija Jallal, who both have extensive executive and financial experience, as well as Antonio's information technology expertise and Bahija's healthcare industry experience. Our Board is highly diverse in terms of background, expertise, nationality, ethnicity and gender, including four women directors and four directors from diverse ethnicities. The average director tenure is approximately six years.

Corporate Responsibility

Anthem believes that corporate responsibility is embedded in our purpose and helps define us as an organization that is committed to creating a healthcare experience that is simpler, more accessible and more affordable for the consumers we serve. We are focused on living out this purpose through the work of our associates, through the philanthropic efforts of the Anthem Foundation, through our diversity and inclusion initiatives, and by implementing environmentally responsible business practices. In recognition of the importance of corporate responsibility, the Board's Governance Committee is charged with monitoring the Company's corporate social responsibility and environmental sustainability initiatives, to ensure they are effective and timely.

On behalf of the Board, thank you for investing in Anthem.