Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263719
Chunk: 18

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 18
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 rate per annum to a sufficiently low rate that permits us to pay all accumulated regular dividends and avoid invoking the protective measures of these provisions. In deciding to invest in the STRC Stock, you should be prepared to bear the risk that we will exercise our right to reduce the regular dividend rate on the STRC Stock to the maximum extent we are permitted to do so. We may not have sufficient funds to pay dividends in cash on the STRC Stock, or we may choose not to pay dividends on the STRC Stock. In addition, regulatory and contractual restrictions may prevent us from declaring or paying dividends. We expect to fund any dividends paid in cash on the STRC Stock primarily through additional capital raising activities, including, but not limited to, at-the-marketofferings of our class A common stock and our junior preferred securities. However, our ability to declare and pay cash dividends on the STRC Stock will depend on many factors, including the following:

| • |     | our financial condition, including the amount of cash we have on hand; |

| • |     | the amount of cash, if any, generated by our operations and financing activities (including our ability to raise 
 additional capital from the equity capital markets on favorable terms or at all);                                |

| • |     | our anticipated financing needs, including the amounts needed to service our indebtedness or other obligations                                                                                                                                           
 (including any dividend payments we must make under our STRK Stock, STRF Stock or STRD Stock), which may be impacted by our ability to sell equity which is reliant on maintaining effective registration statements, certain market conditions, such as 
 sufficient liquid trading volume for our stock, the market price of our securities, the value of our bitcoin holdings, investor sentiment and the general public perception of bitcoin, our strategy and our value proposition;                          |

| • |     | the degree to which we decide to reinvest any cash generated by our operations or financing activities to fund 
 our future operations;                                                                                         |

| • |     | the ability of our subsidiaries to distribute funds to us; |

| • |     | regulatory restrictions on our ability to pay dividends, including under the Delaware General Corporation Law; |

| • |     | our ability to sell equity securities under existing or new at-the-market offering programs; and |

| • |     | contractual restrictions on our ability to pay dividends. |

In addition, our board of directors may choose not to pay accumulated dividends on the STRC Stock for any reason. Accordingly, we may pay less than the full amount of