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The documentS–1Anthropic, PBC26 OCT 2026 · 421 PP.
01The original SEC filingThe authoritative source, in your browser.SEC · HTML 02Download the saved filingThe complete 421-page document, optimized for downloading.PDF · 46 MB 03Download the full researchFindings, customer examples, calculations, and source references.Markdown

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Printed filing page II-6 · Extracted page text

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Exhibit Index

Exhibit
Number
1.1*

Form of Underwriting Agreement.

Description

3.1

3.2

3.3

3.4

3.5

4.1

4.2#^

4.3#^

4.4#^

4.5#^

4.6#

4.7#

5.1*

10.1+

10.2+

10.3+

10.4+

10.5+

10.6+

10.7+

10.8#^

10.9#^

10.10^

Amended and Restated Certificate of Incorporation of the registrant, as amended and as currently in effect.

Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the registrant, as 
currently in effect.

Form of Amended and Restated Certificate of Incorporation of the registrant, to be in effect upon completion of 
this offering.

Amended and Restated Bylaws of the registrant, as amended, as currently in effect.

Form of Amended and Restated Bylaws of the registrant, to be in effect upon completion of this offering.

Form of common stock certificate of the registrant.

Amended and Restated Investors’ Rights Agreement among the registrant and certain holders of its capital 
stock, dated as of May 28, 2026.

2026 Stock Purchase and Convertible Note Facility Agreement between the registrant and Amazon Web 
Services, Inc., dated as of April 20, 2026.

Note Purchase Agreement between the registrant and Broadcom Inc., dated as of March 31, 2026.

Note Purchase Agreement between the registrant and Google LLC, dated as of March 31, 2026.

Registration Rights Agreement between the registrant and Broadcom Inc., dated as of June 8, 2026.

Registration Rights Agreement between the registrant and Google LLC, dated as of May 4, 2026.

Opinion of Wilson Sonsini Goodrich & Rosati, P.C.

Form of Indemnification Agreement between the registrant and each of its directors and executive officers.

Anthropic, PBC 2026 Equity Incentive Plan.

Anthropic, PBC 2026 Employee Stock Purchase Plan.

Anthropic, PBC 2021 Amended and Restated Stock Plan and related form agreements. 

Form of Executive Severance Agreement.

Outside Director Compensation Policy.

Donation Matching Plan. 

Sublease Agreement between the registrant and Salesforce, Inc., dated as of September 22, 2023.

Office Lease between the registrant and 300 Howard Owner, LLC, dated as of January 29, 2026.

Amended and Restated Credit Agreement between the registrant, the several lenders from time to time party 
thereto, and Morgan Stanley Senior Funding, Inc., dated as of September 4, 2026.

10.11#^ Master Equipment Lease Agreement between AI Infrastructure OpCo II, LLC, a wholly owned subsidiary of the 

registrant, and Broadcom Inc., dated as of March 31, 2026.

10.12

10.13

Irrevocable Proxy Agreement between the registrant, Daffy Charitable Fund, and the registrant’s Chief Executive 
Officer, dated as of October 6, 2025.

Irrevocable Proxy Agreement between the registrant, Dechomai Asset Trust, and the registrant’s Chief Executive 
Officer, dated as of December 20, 2024.

10.14

Form of Stockholders’ Agreement of Anthropic, PBC.

16.1

21.1

23.1

23.2

Letter Regarding Change in Accountants.

List of subsidiaries of the registrant.

Consent of Grant Thornton LLP, Independent Registered Public Accounting Firm.

Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm.

23.3*

Consent of Wilson Sonsini Goodrich & Rosati, P.C. (included in Exhibit 5.1).

II-6

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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.