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Report Of Independent Registered Public 
Accounting Firm

To the Stockholders and the Board of Directors of Anthropic, PBC 

Opinion on the Financial Statements

We  have  audited  the  accompanying  consolidated  balance  sheet  of  Anthropic,  PBC  (the  Company)  as  of 
December  31,  2025,  the  related  consolidated  statement  of  operations,  comprehensive  loss,  redeemable 
convertible  preferred  stock  and  stockholders’  deficit  and  cash  flows  for  the year  then  ended,  and  the  related 
notes  (collectively  referred  to  as  the  “consolidated  financial  statements”).  In  our  opinion,  the  consolidated 
financial statements present fairly, in all material respects, the financial position of the Company at December 
31, 2025, and the results of its operations and its cash flows for the year then ended, in conformity with U.S. 
generally accepted accounting principles.

Basis for Opinion

These  financial  statements  are  the  responsibility  of  the  Company’s  management.  Our  responsibility  is  to 
express an opinion on the Company’s financial statements based on our audit. We are a public accounting firm 
registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to 
be  independent  with  respect  to  the  Company  in  accordance  with  the  U.S.  federal  securities  laws  and  the 
applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan 
and  perform  the  audit  to  obtain  reasonable  assurance  about  whether  the  financial  statements  are  free  of 
material  misstatement,  whether  due  to  error  or  fraud.  The  Company  is  not  required  to  have,  nor  were  we 
engaged  to  perform,  an  audit  of  its  internal  control  over  financial  reporting.  As  part  of  our  audit,  we  are 
required  to  obtain  an  understanding  of  internal  control  over  financial  reporting  but  not  for  the  purpose  of 
expressing  an  opinion  on  the  effectiveness  of  the  Company’s  internal  control  over  financial  reporting. 
Accordingly, we express no such opinion. 

Our  audit  included  performing  procedures  to  assess  the  risks  of  material  misstatement  of  the  financial 
statements,  whether  due  to  error  or  fraud,  and  performing  procedures  that  respond  to  those  risks.  Such 
procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial 
statements. Our audit also included evaluating the accounting principles used and significant estimates made 
by management, as well as evaluating the overall presentation of the financial statements. We believe that our 
audit provides a reasonable basis for our opinion.

Critical Audit Matters 

The  critical  audit  matters  communicated  below  are  matters  arising  from  the  current  period  audit  of  the 
financial statements that were communicated or required to be communicated to the audit committee and that: 
(1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially 
challenging, subjective or complex judgments. The communication of critical audit matters does not alter in any 
way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating 
the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or 
disclosures to which they relate.

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