Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 60

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 60
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 adversely affect the rights, preferences or voting powers of the perpetual strike preferred stock (or cause any of the rights, preferences or voting powers of any such preference securities to be materially less favorable as described above) and will not require any vote or consent pursuant to either of the preceding clauses (1) or (2):

| • |     | any increase in the number of the authorized but unissued shares of our undesignated preferred stock; |

S-42

| • |     | any increase in the number of authorized or issued shares of perpetual strike preferred stock; |

| • |     | the creation and issuance, or increase in the authorized or issued number, of any class or series of stock 
 (including, for the avoidance of doubt, dividend senior stock or liquidation senior stock); and            |

| • |     | the application of the provisions described below under the caption “—Conversion Rights—Effect of                                                                               
 Class A Common Stock Change Event,” including the execution and delivery of any supplemental instruments described under such caption solely to give effect to such provisions. |

If any event described in paragraphs (1) or (2) above would materially adversely affect the rights, preferences or voting powers of one or more, but not all, classes or series of voting parity stock (which term, solely for these purposes, includes the perpetual strike preferred stock), then those classes or series whose rights, preferences or voting powers would not be materially adversely affected will be deemed not to have voting or consent rights with respect to such event. Furthermore, an amendment, modification or repeal described in paragraph (1) above that materially adversely affects the special rights, preferences or voting powers of the perpetual strike preferred stock cannot be effected without the affirmative vote or consent of preferred stockholders, voting separately as a class, of at least a majority of the perpetual strike preferred stock then outstanding. Certain Amendments Permitted Without Consent Notwithstanding anything to the contrary described in paragraph (1) above under the caption “—Voting and Consent Rights with Respect to Specified Matters,” we may amend, modify or repeal any of the terms of the perpetual strike preferred stock without the vote or consent of any preferred stockholder to:

| • |     | cure any ambiguity or correct any omission, defect or inconsistency in the certificate of designations or the                                                                                                                               
 certificates representing the perpetual strike preferred stock, including the filing of a certificate of correction, or a corrected instrument, pursuant to Section 103(f) of the Delaware General Corporation Law in connection therewith; |

| • |     |