Company: MSTR
Filing Date: 2025-01-27
Form Type: S-3ASR
Source: 0001193125-25-012707
Chunk: 23

Company: Strategy Inc
Filing Date: 2025-01-27
Form: S-3ASR
Chunk 23
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 senior debt securities);                |

| • |     | changes the provisions relating to the waiver of past defaults or impairs the right of holders to receive payment                                     
 or to institute suit for the enforcement of any payment or conversion of any senior debt securities of such series on or after the due date therefor; |

| • |     | modifies any of the provisions of these restrictions on amendments and modifications, except to increase any                                                                                             
 required percentage or to provide that certain other provisions cannot be modified or waived without the consent of the holder of each senior debt security of such series affected by the modification; |

| • |     | adversely affects the right to convert or exchange senior debt securities into class A common stock, other 
 securities or property in accordance with the terms of the senior debt securities; or                      |

| • |     | reduces the above-stated percentage of outstanding senior debt securities of such series whose holders must                       
 consent to a supplemental indenture or modifies or amends or waives certain provisions of or defaults under the senior indenture. |

It shall not be necessary for the holders to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if the holders’ consent approves the substance thereof. After an amendment, supplement or waiver of the senior indenture in accordance with the provisions described in this section becomes effective, the trustee must give to the holders affected thereby certain notice briefly describing the amendment, supplement or waiver. Any failure by the trustee to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplemental indenture or waiver. Notice of Redemption.Notice of any redemption of senior debt securities will be mailed at least 10 days but not more than 60 days before the redemption date to each holder of senior debt securities of a series to be redeemed. Any notice may, at our discretion, be subject to the satisfaction or waiver of one or more conditions precedent. In that case, such notice shall state the nature of such condition precedent. If we elect to redeem a portion but not all of such senior debt securities, the trustee will select the senior debt securities to be redeemed in a manner that complies with applicable legal and stock exchange requirements, if any. Interest on such debt securities or portions of senior debt securities will cease to accrue on and after the date fixed for redemption, unless we default in the payment of such redemption price and accrued interest with respect to any such senior debt security or portion thereof. If any date of redemption