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The documentS–1Anthropic, PBC26 OCT 2026 · 421 PP.
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Printed filing page II-5 · Extracted page text

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Item 16.

Exhibits and Financial Statement Schedules. 

Exhibits 

See the Exhibit Index immediately preceding the signature page hereto for a list of exhibits filed as part of this 
registration statement on Form S-1, which Exhibit Index is incorporated herein by reference. 

Financial Statement Schedules 

All  financial  statement  schedules  are  omitted  because  the  information  called  for  is  not  required  or  is  shown 
either in the consolidated financial statements or in the notes thereto. 

Item 17.

Undertakings. 

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, 
and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has 
been  advised  that  in  the  opinion  of  the  Securities  and  Exchange  Commission  such  indemnification  is  against 
public  policy  as  expressed  in  the  Securities  Act  and  is,  therefore,  unenforceable.  In  the  event  that  a  claim  for 
indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid 
by  a  director,  officer,  or  controlling  person  of  the  registrant  in  the  successful  defense  of  any  action,  suit,  or 
proceeding) is asserted by such director, officer, or controlling person in connection with the securities being 
registered,  the  registrant  will,  unless  in  the  opinion  of  its  counsel  the  matter  has  been  settled  by  controlling 
precedent,  submit  to  a  court  of  appropriate  jurisdiction  the  question  whether  such  indemnification  by  it  is 
against public policy as expressed in the Securities Act and will be governed by the final adjudication of such 
issue. 

The undersigned registrant hereby undertakes that: 

(1) For  purposes  of  determining  any  liability  under  the  Securities  Act,  the  information  omitted  from  the 
form  of  prospectus  filed  as  part  of  this  registration  statement  in  reliance  upon  Rule  430A  and 
contained  in  a  form  of  prospectus  filed  by  the  registrant  pursuant  to  Rule  424(b)(1)  or  (4)  or  497(h) 
under the Securities Act shall be deemed to be part of this registration statement as of the time it was 
declared effective. 

(2) For the purpose of determining any liability under the Securities Act, each post-effective amendment 
that contains a form of prospectus shall be deemed to be a new registration statement relating to the 
securities  offered  therein,  and  the  offering  of  such  securities  at  that  time  shall  be  deemed  to  be  the 
initial bona fide offering thereof. 

II-5

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  1. Founders’ letterp. 3SEC
  2. Defined termsp. 12SEC
  3. Prospectus summaryp. 16SEC
  4. Risk factorsp. 38SEC
  5. Management’s discussion & analysisp. 144SEC
  6. Businessp. 190SEC
  7. Governancep. 254SEC
  8. Executive compensationp. 275SEC
  9. Related-person transactionsp. 293SEC
  10. Principal & selling stockholdersp. 299SEC
  11. Capital-stock rightsp. 303SEC
  12. Shares eligible for future salep. 318SEC
  13. Underwritingp. 327SEC
  14. Auditor change & expertsp. 345SEC
  15. Financial statements & notesp. 347SEC
  16. Part II & exhibit indexp. 413SEC

How this was made

Read in full.
Kept in context.

A snapshot of the filing dated , rather than a live record of later events.

3primary reviewers
421pages reviewed
43image instances checked

The review

Three primary reviewers read non-overlapping ranges of the complete main filing. All 43 embedded image instances were transcribed and visually reviewed, including the founders’ letter, charts, and customer case studies. Financial tables were also checked visually for dates, units, and column alignment.

A separate reviewer checked the draft’s calculations, accounting interpretations, and customer qualifications. An additional check covered the later merged findings. The result is 62 findings and 21 customer examples.

The boundary

Companion contracts and other exhibits named in the filing’s index are separate documents and were not independently reviewed. Customer outcomes, technical benchmarks, forecasts, and scientific priority claims remain attributed company or customer disclosures.

The numbers

Dollar figures are U.S. dollars. H1 means the six months ended June 30; Q2 means the three months ended June 30. The 2026 interim financial statements are unaudited. Our calculations show their inputs and are labeled separately from reported values.

Blank fields stay undisclosed. Figures with different periods, conditions, or potentially overlapping scopes are kept separate. An earlier tender price is not an IPO price.

What the evidence labels mean
Reported in filing
A company disclosure, with the period and accounting basis retained.
Company estimate / company claim
An estimate or assertion attributed to the company, with its uncertainty preserved.
Our calculation
A derived figure using cited inputs. It is not a separately reported company metric.
Customer example
A selected case study, with its measurement limits. It is not representative ROI.
Proposed / conditional
A status qualifier for an arrangement that is not yet effective or depends on stated conditions.

About updates. This edition is tied to the October 26, 2026 filing. Any later revision should identify its new source date and preserve the basis of earlier claims.

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A closer look at the filing

Anthropic · Form S-1PDF 1

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Filed October 26, 2026. PDF is approximately 46 MB and opens only when requested. Section links may precede the exact cited paragraph.