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Table of Contents

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Claude’s Intelligence, Capability, and Safety. We plan to continue advancing Claude’s core intelligence 
and safety in tandem, expand the frontier of what AI systems can reliably do, and pioneer new ways AI 
can be applied across professional domains.

Claude’s Accessibility. We plan to continue making Claude’s intelligence accessible across every surface 
where work happens, including through our own platform and applications, through AWS, GCP, and 
Azure, and through embedding in enterprise applications.

Claude’s  Adoption.  We  intend  to  grow  our  direct  go-to-market  and  Applied  AI  teams,  deepen  cloud 
distribution  partnerships,  invest  in  brand  and  marketing,  and  expand  our  international  presence  to 
drive adoption of Claude as the trusted AI partner for organizations worldwide.

Enter New Markets. We intend to extend frontier AI to accelerate novel discoveries, reaching domains 
from healthcare and life sciences to robotics and physical work, where we believe compounding model 
capabilities can unlock transformative opportunities.

Strategic  Transactions  and  Partnerships.  We  intend  to  selectively  pursue  acquisitions,  investments, 
and strategic partnerships, including ecosystem partnerships with SIs, consultants, and data platforms, 
that accelerate our mission, expand our reach, and strengthen our competitive position.

Our Commitment to Public Benefit

We  founded  Anthropic  on  the  belief  that  the  most  transformative  technology  in  human  history  demands  an 
extraordinary  level  of  responsibility,  and  that  responsibility  extends  far  beyond  building  safe  systems.  We 
intend to direct a meaningful portion of our resources toward ensuring that frontier AI is safe and its benefits 
are broadly distributed, which we refer to as our public benefit initiatives. 

As part of these initiatives, we contributed 846,840,960 shares of our Class N common stock, representing 5% 
of  our  fully  diluted  shares  as  of June  30,  2026  (assuming  full  conversion  of  the  Amazon  Notes,  as  defined 
below),  to  Anthropic  Public  Benefit  Fund,  LLC  (the  “Anthropic  Public  Benefit  Fund”),  our  wholly  owned 
subsidiary  dedicated  to  the  Company  Purpose  (as  defined  below)  (such  issuance,  the  “Initial  Public  Benefit 
Issuance”). Our board of directors has also approved a framework under which it may, in its discretion, issue 
shares of our Class N common stock to the Anthropic Public Benefit Fund (or other designee) representing up 
to an additional 2% of our then-outstanding shares (plus any shares subject to options, restricted stock units, 
and other convertible securities and any shares held by the Anthropic Public Benefit Fund) each time our share 
price appreciates 50% above the prior share price milestone, beginning with our initial public offering price (the 
“Public Benefit Issuances”). In addition, our co-founders have each pledged to dedicate 80% of their personal 
equity  in  Anthropic  to  philanthropic  causes.  For  additional  information  regarding  these  pledges,  including 
related risks, see the section titled “Risk Factors—Risks Related to Ownership of our Class A Common Stock.” 
Separate  from  the  co-founders’  pledges,  we  also  maintain  a  donation  matching  program  through  which 
employees  can  pledge  a  meaningful  portion  of  their  equity  awards  toward  charitable  giving,  which  we  match 
with shares of our Class N common stock.

Our Governance Structure and Its Goals

Our novel capital and corporate governance structure has been carefully designed and differs significantly from 
that  of  other  public  companies.  We  strive  to  help  bring  humanity  safely  into  an  era  where  transformative  AI 
exerts tremendous and potentially decisive influence over a broad range of human undertakings. Operating as a 
public benefit corporation (“PBC”) gives our board of directors the necessary latitude to balance the pecuniary 
interests  of  our  stockholders,  the  best  interests  of  those  materially  affected  by  our  conduct,  and  the  specific 
public benefit purpose that we promote. Our specific public benefit purpose is the responsible development and 
maintenance  of  advanced  AI  for  the  long-term  benefit  of  humanity  (the  “Company  Purpose”).  In  addition,  a 
financially  disinterested  trust,  which  we  refer  to  as  the  Long-Term  Benefit  Trust  (the  “LTBT”)  and  which 
generally has the power to elect and remove a majority of the authorized members of our board of directors, is 
designed to supply both the incentives and insights for striking this balance appropriately. We also believe that 
our seven co-founders are distinctly equipped to be stewards of our mission.

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