Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263759
Chunk: 22

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 22
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 actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time.

We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital, and may
also use the net proceeds for the payment of cash dividends declared from time to time on shares of any dividend senior stock then outstanding.

Bitcoin
is a highly volatile asset that has traded below $70,000 per bitcoin and above $120,000 per bitcoin in our principal market in the 12 months preceding the date of this STRD Stock Annex. Bitcoin does not pay interest or other returns and so our
ability to generate cash from our bitcoin holdings depends on sales. Future fluctuations in bitcoin trading prices may result in our converting bitcoin purchased with the net proceeds from this offering into cash with a value substantially below the
net proceeds from this offering, and there can be no assurance as to whether or when we will realize any cash proceeds from our contemplated acquisition of bitcoin.

We have not determined the amount of net proceeds to be used specifically for any of these purposes. As a result, our management will have broad discretion in
the application of the net proceeds from this offering and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used in a manner of which you approve.

SA-13

DESCRIPTION OF STRD STOCK

The following is a summary of certain provisions of the STRD Stock. It is only a summary and is not complete. The terms of our STRD Stock are set forth in a
certificate of designations (the “certificate of designations”) and our second restated certificate of incorporation (as amended and supplemented to date, the “certificate of incorporation”). We qualify this summary by
referring you to the certificate of designations and our certificate of incorporation, because they, and not this summary, define your rights as a holder of the STRD Stock. We will provide you, upon written request, with a copy of the certificate of
designations, which includes the form of the certificates that will represent the STRD Stock, and our certificate of incorporation, as provided under the caption “Where You Can Find Additional Information; Incorporation by Reference” in
the accompanying base prospectus supplement.

Certain terms used in this summary are defined below under the caption “—Definitions.”
Certain other terms used in this summary are defined in the certificate of designations.

References to “we,” “us” and
“our” in this section