Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263746
Chunk: 29

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 29
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 not a business day, the next business day) will initially be
a rate per annum equal to the “regular dividend rate” (as defined in this STRF Stock Annex) plus 100 basis points; provided, however, that until such regular dividend, together with compounded dividends thereon, is paid in
full, such compounded dividend rate will increase by 100 basis points per annum for each subsequent regular dividend period, up to a maximum rate of 18% per annum. Each reference in this STRF Stock Annex to “accumulated” or
“unpaid” regular dividends will include any compounded dividends that accumulate thereon pursuant to the provision described in this paragraph. Each payment of declared regular dividends on the STRF Stock will be applied to the earliest
regular dividend period for which regular dividends have not yet been paid.

Accumulated regular dividends will be computed on the basis of a 360-day year comprised of twelve 30-day months.

If we fail to declare a regular
dividend on or prior to a given regular record date, such failure shall constitute the issuance of a notice of deferral. Upon issuance of such notice, we shall use our commercially reasonable efforts over the following
60-day period to sell class A common stock and/or other securities to raise proceeds in an amount sufficient to cover any deferred dividends that would have been due with respect to the applicable regular
dividend payment date, plus compounded dividends thereon, on the next “deferred regular dividend payment date” (as defined below under the caption “—Definitions”). Payment of any declared regular dividend on such
deferred regular dividend payment date will be made, if at all, to the preferred stockholders of record as of the close of business on the “deferred regular record date” (as defined below under the caption
“—Definitions”) immediately preceding such deferred regular dividend payment date. If we fail to pay in full such regular dividend, plus compounded dividends thereon, in cash by the applicable deferred regular dividend payment
date, such failure shall constitute a failure to declare and pay regular dividends for purposes of determining whether a “regular dividend non-payment event” (as defined below under the caption
“—Definitions”) has occurred with respect to the right to appoint directors as described below under the caption “Voting Rights—Right to Designate

SA-17

up to Two Preferred Stock Directors Upon Regular Dividend Non-PaymentEvents.” However, if we pay such regular dividend, plus compounded dividends thereon, on such deferred regular dividend payment date in