This report documents PEPFAR’s progress and unveils the program’s strategy for working with partners to achieve an AIDS-free generation. The program is now in phase 3 (2013-present) and is focused on transparency and accountability for impact, as well as accelerating core interventions for epidemic control. PEPFAR is investing resources strategically and geographically to reach populations at greatest risk with evidence-based programs. This report also provides insight into PEPFAR’s five Action Agendas—the foundation on which an AIDS-free generation will be achieved.