Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 10

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 10
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 our current intention of adjusting the regular dividend rate                                                                                     
 in such a manner as we believe (in our sole and absolute judgment) would be designed to cause the STRC Stock to trade at prices, or otherwise have a value, near its stated amount of $100 per share; |

| • |     | the tax rules applicable to “fast-pay stock” could result in 
 adverse consequences to holders of the STRC Stock;           |

| • |     | an issuance of STRC Stock could have an adverse tax profile, which could subject holders of any other shares of 
 STRC Stock to adverse consequences;                                                                             |

Risks Related to Our Outstanding and Potential Future Indebtedness

| • |     | our level and terms of indebtedness could adversely affect our ability to raise additional capital to further                         
 execute on our bitcoin strategy, fund our enterprise analytics software operations, and take advantage of new business opportunities; |

S-5

| • |     | we may be unable to service our indebtedness, which could cause us to default on our debt obligations and could 
 force us into bankruptcy or liquidation;                                                                        |

| • |     | we may not have the ability to raise the funds necessary to settle conversions of our outstanding convertible                                                                                                                                             
 notes in cash or to repurchase the convertible notes for cash upon a fundamental change, or to repurchase convertible notes if noteholders exercise their repurchase rights, and any future debt may contain limitations on our ability to engage in cash 
 settled conversions or repurchases of convertible notes;                                                                                                                                                                                                  |

| • |     | despite our current level of indebtedness, we may incur substantially more indebtedness and enter into other 
 transactions in the future which could further exacerbate the risks related to our indebtedness; and         |

Other Risks

| • |     | the risks related to the STRC Stock and this offering and the other risks detailed in this prospectus supplement                                          
 and in the “Risk Factors” and “Risk Factor Updates” sections in the accompanying prospectus or in documents incorporated by reference herein and therein. |

We caution you that the foregoing list of important factors may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this prospectus supplement may not in fact occur. The forward-looking statements made in this prospectus supplement relate only to events as of the date on which the statements were made. Except as may be required by law, we undertake no obligation