Transparent conductors are essential in many optoelectronic devices, such as displays, smart windows, light-emitting diodes and solar cells. Here we demonstrate a transparent conductor with optical loss of ∼1.6%, that is, even lower than that of single-layer graphene (2.3%), and transmission higher than 98% over the visible wavelength range. This was possible by an optimized antireflection design consisting in applying Al-doped ZnO and TiO2 layers with precise thicknesses to a highly conductive Ag ultrathin film. The proposed multilayer structure also possesses a low electrical resistance (5.75 Ω sq−1), a figure of merit four times larger than that of indium tin oxide, the most widely used transparent conductor today, and, contrary to it, is mechanically flexible and room temperature deposited. To assess the application potentials, transparent shielding of radiofrequency and microwave interference signals with ∼30 dB attenuation up to 18 GHz was achieved.