Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 7

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 7
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 • |     | the nature of our software makes it particularly susceptible to undetected errors, bugs, or security                                                                                   
 vulnerabilities, which could cause problems with how the software performs and, in turn, reduce demand for our software, reduce our revenue, and lead to litigation claims against us; |

Risks Related to Our Operations

| • |     | business disruptions could materially adversely affect our operating results or result in a material weakness in 
 our internal controls that could adversely affect the market price of the STRD Stock;                            |

| • |     | we face a variety of risks in doing business with U.S. and foreign federal, state, and local governments and                                                                               
 government agencies, including risks related to the procurement process, budget constraints and cycles, termination of contracts, and compliance with government contracting requirements; |

| • |     | if we are unable to recruit or retain skilled personnel, or if we lose the services of Michael J. Saylor, our 
 business, operating results, and financial condition could be materially adversely affected;                  |

S-4

| • |     | changes in laws or regulations relating to privacy or the collection, processing, disclosure, storage,                                                                                                                                            
 localization, or transmission of personal data, or any actual or perceived failure by us or our third-party service providers to comply with such laws and regulations, contractual obligations, or applicable privacy policies, could materially 
 adversely affect our business;                                                                                                                                                                                                                    |

| • |     | if we or our third-party services providers experience a disruption due to a cybersecurity attack or security                                                                                                                            
 breach and unauthorized parties obtain access to our customers’, prospects’, vendors’, or channel partners’ data, our data, our networks or other systems, or the cloud environments we manage, our offerings may be perceived as not    
 being secure, our reputation may be harmed, demand for our offerings may be reduced, our operations may be disrupted, we may incur significant legal and financial liabilities, and our business could be materially adversely affected; |

| • |     | our having entered into an indemnification agreement with Michael J. Saylor, our Chairman of the Board of                                                                                                                            
 Directors and Executive Chairman, that supplements our conventional director and officer liability insurance provided by third-party insurance carriers could negatively affect our business and the market price of the STRD Stock; |

Risks Related to Our STRD Stock

| • |     | although the STRD Stock is senior to our class A common stock and class B common stock, it is junior to our 8.00%