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

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 11
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 the Delaware General Corporation Law. |

| Subject to the exceptions and limitations described in this STRC Stock Annex, the affirmative vote or consent of preferred stockholders, and holders of each class or series of voting parity stock, if any, with similar                    
 voting or consent rights with respect to such event, representing at least a majority of the combined outstanding voting power of the STRC Stock and such voting parity stock will be required for certain transactions or events, including 
 (i) certain amendments to our certificate of incorporation or the certificate of designations establishing the terms of the STRC Stock; (ii) certain consolidations, combinations and mergers involving us; and (iii) certain binding or     
 statutory share exchanges or reclassifications involving the STRC Stock.                                                                                                                                                                     |

| See “Description of STRC Stock—Voting Rights.” |

SA-5

| Ranking | The STRC Stock ranks as follows: |

| • |     | senior to (i) “dividend junior stock” (as defined in this STRC Stock Annex, and which includes our                                                                                                                                  
 class A common stock, our class B common stock, our 8.00% Series A Perpetual Strike Preferred Stock (“STRK Stock”) and our 10.00% Series A Perpetual Stride Stock, (“STRD Stock”)) with respect to the payment of dividends; and    
 (ii) “liquidation junior stock” (as defined in this STRC Stock Annex, and which includes our class A common stock, our class B common stock, our STRK Stock and our STRD Stock) with respect to the distribution of assets upon our 
 liquidation, dissolution or winding up;                                                                                                                                                                                             |

| • |     | equally with (i) “dividend parity stock” (as defined in this STRC Stock Annex) with respect to the                                                                                          
 payment of dividends; and (ii) “liquidation parity stock” (as defined in this STRC Stock Annex) with respect to the distribution of assets upon our liquidation, dissolution or winding up; |

| • |     | junior to (i) “dividend senior stock” (as defined in this STRC Stock Annex, and which includes our                                                                                                                                     
 10.00% Series A Perpetual Strife Preferred Stock, (“STRF Stock”) with respect to the payment of dividends; (ii) “liquidation senior stock” (as defined in this STRC Stock Annex, and which includes our STRF Stock) with respect       
 to the distribution of